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Cable Update (GBPUSD)

  • #256,201
  • Sep 27, 2010 8:10am Sep 27, 2010 8:10am
Quoting Articulate
Attached Thumbnailshttp://cdn.forexfactory.com/attachme...1&d=1285577723 http://cdn.forexfactory.com/attachme...1&d=1285577723

Cable broke out of the 200 pips box on Friday and headed toward the next box. Price movement is simply a matter of habits. History keeps repeating...
A word is enough for the wise!
  • #256,202
  • Sep 27, 2010 8:10am Sep 27, 2010 8:10am
Quoting Fudomyo
I've been countertrading my swing position on the pullbacks so I'm a muppet too.

don't worry though... Mr T's got our back. ...lol
That is SO an 80's magazine. Cyndi Lauper and Michael Jackson.
Enter Signature
  • #256,203
  • Sep 27, 2010 8:11am Sep 27, 2010 8:11am
she want too go up/down 150 pips lets see
A little beginner trader since 2006
  • #256,204
  • Sep 27, 2010 8:11am Sep 27, 2010 8:11am
Quoting cloggie
Why fight the trend? es and DOW still up. Gold just broke 1300 and oil is up. Where is the short? Cable and Fibre are not going to go down until those 4 stop rising.
Clog mate you are right that we are in an uptrend but a short play retrace at current levels is not a muppet act mate ...
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #256,205
  • Sep 27, 2010 8:11am Sep 27, 2010 8:11am
Quoting cloggie
Sit back for a minute and ask yourself what is driving this and what that driver needs to show you before you can take a decent short.
dunno, what's driving it?

It sure aint my Lada.
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  • #256,206
  • Sep 27, 2010 8:12am Sep 27, 2010 8:12am
Quoting cloggie
Sit back for a minute and ask yourself what is driving this and what that driver needs to show you before you can take a decent short.
I should write your text in my walls room.
A little beginner trader since 2006
  • #256,207
  • Sep 27, 2010 8:12am Sep 27, 2010 8:12am
This daily TL comes in at 5874 so we do have some resistance there.
Attached Image (click to enlarge)
Click to Enlarge Name: GU daily.gif Size: 19 KB
  • #256,208
  • Sep 27, 2010 8:15am Sep 27, 2010 8:15am
Quoting Naseri13
I should write your text in my walls room.
actually that wouldn't be such a bad idea.
Enter Signature
  • #256,209
  • Sep 27, 2010 8:19am Sep 27, 2010 8:19am
Quoting vosterfxandy
dunno, what's driving it?

It sure aint my Lada.

This month has been driven by risk. So far risk appetite has been full on in equities and most commodities. We can all agree that the euro and the dollar are having a race to the bottom and there is nothing good to say about either, the ECB is buying up debt like it is going out of fashion and the yields of the T-bills have been dropping like a lead balloon. So the only thing to differentiate and identify the money flow is risk aversion/appetite.

So far we have seen Gold reaching 1300 and all the ETF unwinding their hedges that tells me that it is not going to stop at 1300. We have had oil steadily rising helped by hurricane season in the US and dropping inventories.

Couple that with the biggest gain in equities in a month for 90 years despite the largest redemptions on record and you can easily tell where the money is going.

A good correlation on every day this month has been es and DOW FT. Watching those will give you good and easy plays on both fibre and cable. NY opens in 10 mins and are set to open up both based on futures and fair value, as long as that risk appetite is sustained you are better of buying the dips and just mirror the equities.

Cable has given us a hyperbolic rise last week that will take lots to overcome and the equity rally is sustained by the weakening dollar, again something that take lots to overcome.
  • #256,210
  • Sep 27, 2010 8:20am Sep 27, 2010 8:20am
Price is still only @ 56% of it's 20day avberage pip range...so plenty of movement possibility left. As for potential resistance factors, I treat them all as just that...potential. Currently we have that previous daily t/f swing lo zone to 5876 = potential sbr and the longer term daily/weekly t/f descending trend line coming through around that 5876...the Hi is also in that 4hr spike created at that previous 4hr swing hi zone leading up to 5909 swing hi....

G/L
ex member
  • #256,211
  • Sep 27, 2010 8:20am Sep 27, 2010 8:20am
Quoting cloggie
I said, Anybody shorting is a muppet, but if you take that personally then that is your prerogative. I just had a go at you for justifying an intraday short based on a monthly chart.
When your fingers run faster than your head that's what you get. Go back to your post and see who you referred to in this "Don't try to dig yourself out of a hole, the trend has been up for over a week and to justify taking an intraday short based on a trend that started a year ago is just childish wordplay to justify your silly trade." Then read the rest of the content and come to some reasonable judgment about who you're referring to.
My last word on this mis-yarn.
Moving on now to something better.

P
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #256,212
  • Sep 27, 2010 8:21am Sep 27, 2010 8:21am
Quoting cloggie
This month has been driven by risk. So far risk appetite has been full on in equities and most commodities. We can all agree that the euro and the dollar are having a race to the bottom and there is nothing good to say about either, the ECB is buying up debt like it is going out of fashion and the yields of the T-bills have been dropping like a lead balloon. So the only thing to differentiate and identify the money flow is risk aversion/appetite.

So far we have seen Gold reaching 1300 and all the ETF unwinding their hedges that tells me that...
Huh, wtf?? How do you know all this stuff?
Enter Signature
  • #256,213
  • Sep 27, 2010 8:21am Sep 27, 2010 8:21am
not again...as i mentioned during weekend we may seen some pull n today is monday guys.....

wtf making war...scalp short etc go ahead as long as u guys making pips...i just use M1 scalping n almost 100pips since market open....

its not a big deal...up to u guys how to control MM entry n exit...

Overall treand yes, is up..but today close will determine n confirm everything.....doh..oh my god...we have yet to c one daily close candle...lol....chill guys....n patient...

enjoys ur pips
  • #256,214
  • Sep 27, 2010 8:25am Sep 27, 2010 8:25am
Quoting vosterfxandy
Huh, wtf?? How do you know all this stuff?

Cable does not operate in a vacuum and is entirely driven by the dollar half of the pair on equity rallies, a trader needs to keep an eye on the bigger picture at all times to make a reasonable calculated judgment on direction and setups.

Until tomorrow's CA and Friday's PMI cable will only be driven by the dollar this week.
  • #256,215
  • Sep 27, 2010 8:27am Sep 27, 2010 8:27am
The previous 1hr swing hi (=previous resistance=potential rbs) zone is the first obstacle for the shortists.

G/L
Attached Image
ex member
  • #256,216
  • Sep 27, 2010 8:31am Sep 27, 2010 8:31am
NY and NAS both opened up, risk is still on. Keep an eye on the DOW to see how cable responds. 20Bn of M&A announced on the open, could sustain the rally here.

Nymex gold and Oil up on the open.

You can throw all the techie stuff you want on Cable, she will just follow the equities today as she has the whole month barring any Sterling news.
  • #256,217
  • Sep 27, 2010 8:34am Sep 27, 2010 8:34am
Quoting cloggie
Cable does not operate in a vacuum and is entirely driven by the dollar half of the pair on equity rallies, a trader needs to keep an eye on the bigger picture at all times to make a reasonable calculated judgment on direction and setups.

Until tomorrow's CA and Friday's PMI cable will only be driven by the dollar this week.
so how about todays new leadership in great britain, is that not affecting anything?
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  • #256,218
  • Sep 27, 2010 8:34am Sep 27, 2010 8:34am
Quoting vosterfxandy
Huh, wtf?? How do you know all this stuff?
Listen to bloomberg tv at bloomberg.com and you will learn it too.
  • #256,219
  • Sep 27, 2010 8:35am Sep 27, 2010 8:35am
Quoting vosterfxandy
so how about this latest leadership in great britain, is that not affecting anything?

The world markets don't care which Milliband takes over.
  • #256,220
  • Sep 27, 2010 8:35am Sep 27, 2010 8:35am
Quoting vosterfxandy
Huh, wtf?? How do you know all this stuff?
Just keep bloomberg tv playing as you are trading and you will hear all of this also.
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