Cable Update (GBPUSD) | Page 13155 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #263,081
  • Nov 3, 2010 12:25pm Nov 3, 2010 12:25pm
Quoting javapips
well, i have a good broke-r...they guaranty about SL, it will be hit even there is slip, and no doubt about that..,cos many time price didn't touch my SL, they hit it also...


ps: actually i don't know what is FOMC... (please tell me )

If your broker guarantees SL's close your account and find a real one, that is the first flag item for a scam, there is no such thing as guaranteed SL's when spreads go to 150 pips.

FOMC is what we all have been talking about for the last 2 months, how much money is Bernie going to print, 1 trillion? 1/2 trillion? Who knows.
  • #263,082
  • Nov 3, 2010 12:25pm Nov 3, 2010 12:25pm
Quoting cloggie
You are going to hold trades over FOMC with likely 200-300 pips swings and spreads going to 150 pips? Hope your stops and margin can handle that.

Unless you are a position trader I would recommend very strongly against holding anything that you cannot afford to lose over FOMC, either that or take of all your stops except a TP, but even that one can get hit with 200 pips against you on slippage and a cr@p broker.

We have been building towards this moment for 6 weeks, don't go p!ssing it all away on a gamble.
i agree i fancy 1.57 or 1.54 b4 going up.. assuming i dont get stopped..it will be my first hit of the year..aint looking forward too it but cant say it wasnt possible

if tomorrow is a down day..it may happen
Attached Image (click to enlarge)
Click to Enlarge Name: chart2.jpg Size: 95 KB
  • #263,083
  • Nov 3, 2010 12:25pm Nov 3, 2010 12:25pm
The drop from current 6155 intraday Hi sees price find fresh demand at the 23.6% of the 5727-6155 swing up on the pullback, confluence with the breeched previous 1hr descending trendline...finding fresh supply at the 50% of the 6155-6059 fall on the recovery attampt.

Just over 1hr till Fomc annoucement and favoured possible QE2 scenarios by the talking heads seem to be as outlined by forexcrunch.com. Link here is their later discussion about QE2.

Current 1hr screenshot below...got a feeling this might alter !

G/L

http://www.forexcrunch.com/quantitative-easing-update/

http://www.easy-upload.net/fichiers/z.2010113182417.gif

http://www.easy-upload.net/fichiers/...0113182449.gif
ex member
  • #263,084
  • Nov 3, 2010 12:27pm Nov 3, 2010 12:27pm
A small short EU at 4060. Three drives pattern, BE already, never thought it will survive until now cos EG is surging.
  • #263,085
  • Nov 3, 2010 12:28pm Nov 3, 2010 12:28pm
Quoting trending
A small short EU at 4060. cos EG is surging.

40 pips, surging? you and I must have different dictionaries......

Oh and next time if you want the credibility don't go posting entries 20 minutes after the fact.....

And eyes on 4038, that will be the turt for you.
  • #263,086
  • Nov 3, 2010 12:29pm Nov 3, 2010 12:29pm
Quoting cloggie
It takes guts to trade against me but kudos for sticking to your convictions, trade your plan even if your plan is rubbish.....

The problem is that you never know if your plan is cr@p until you give it chance to run and we all trade different TF's.
Thanks mate....cheers for the advice
Enter Signature
  • #263,087
  • Nov 3, 2010 12:31pm Nov 3, 2010 12:31pm
heres a shocker for risk reward..
Attached Image (click to enlarge)
Click to Enlarge Name: chart2.jpg Size: 130 KB
  • #263,088
  • Nov 3, 2010 12:35pm Nov 3, 2010 12:35pm
Quoting cloggie
Well researched and thought out, just trade the d@rn thing, start making decisions and don't go waiting for something to happen by then it is too late.

Have a look at bbmac's posts too, he is the king of divergence here.

Cloogie - can I email you or send you a private message - I have soem stupid questions to ask and being a newbie don't want to embarass myself publicly :-)
  • #263,089
  • Nov 3, 2010 12:36pm Nov 3, 2010 12:36pm
Quoting cloggie
40 pips, surging? you and I must have different dictionaries......

Oh and next time if you want the credibility don't go posting entries 20 minutes after the fact.....

And eyes on 4038, that will be the turt for you.
Quoting trending
I'm I the only one waiting for 1.4063? http://cdn.forexfactory.com/images/s...im/waiting.gif
Been waiting since yesterday. Not exactly sure after all the ups and down. Not looking for credibility either.
  • #263,090
  • Nov 3, 2010 12:39pm Nov 3, 2010 12:39pm
Quoting Sammie
Cloogie - can I email you or send you a private message - I have soem stupid questions to ask and being a newbie don't want to embarass myself publicly :-)

Only people on my buddy list can contact me, I had to it was becoming ridiculous.

Any question you have regarding trading you can ask here, it may well be to the benefit of others and if I don't know the answers plenty of others may.
  • #263,091
  • Nov 3, 2010 12:40pm Nov 3, 2010 12:40pm
Quoting trending
Been waiting since yesterday. Not exactly sure after all the ups and down. Not looking for credibility either.

No worries, just watch that 4038. Any short here is a bit of a counter on the intermediate trend.

Loads of volatility coming to the market in about 30 minutes. Be safe. NY boys coming back from lunch too right about now.

Just imagine if he is going for the same approach as last time, we can see a 500 pip move in no time
  • #263,092
  • Nov 3, 2010 12:47pm Nov 3, 2010 12:47pm
Quoting cloggie
If your broker guarantees SL's close your account and find a real one, that is the first flag item for a scam, there is no such thing as guaranteed SL's when spreads go to 150 pips.
agree, I know my broker doesn't guarantee stops especially under these circumstances.

nav, here's my GU 4H. (don't think the divergence has completely played out yet)

catch you folks later, GY is excellent trading atm on the lower TFs. not ambidexterous enough to post and trade at the same time. ...lol

one more outlook on FOMC from London Forex Broadsheet.

The Fed Coin-Flick: Eur/Usd 1.3250 or 1.3750 or 1.4250 or 1.5000

Markets have to absorb overnight interest rate detail from the Bank of Japan, as well as the U.S. mid-term election, while eyeing the FOMC rate statement that will finally reveal the intentions of the Federal Reserve in regard to their need to jump-start a stagnant economy.

The fact that the Fed Chairman, Mr. Bernanke, floated the idea of quantitative easing such a long time ago has given the market plenty of time to price in what the consensus opinion is as an amount of freshly printed debt that is suitable to be monetized.

Cold
If the Fed don not reveal a set plan and defined dollar amount in QE aid, expect the Usd to push higher against all currencies, with the strongest moves being against commodity-based Aud and Cad, while equity and commodity markets get crushed for a sustained period of time.
Possible reaction- Eur/Usd 1.3250, S/P 1100 WTI 65.00, Dollar Index 81.00.

Warm
A release that talks of $500 billion would be below the expected estimates, and would likely see mid-term Usd strength and a near-term reversal in equity and commodity trade, with major currencies likely to be sold in orderly fashion as the Usd regains lost September ground.
Possible reaction- Eur/Usd 1.3750, S/P 1160, WTI 75.00, Dollar Index 78.00.

Just Right?
With the Fed coming in or close to $1000 billion (a trillion dollars) as expected the markets would likely receive an initial pop higher against the Usd, equities and commodities would likely move higher in the near-term, but it may not be a rally into year-end, and would likely be volatile moves that hit as each regional market opens and close.
Possible reaction- Eur/Usd 1.4250, S/P 1220, WTI 90.00, Dollar Index 75.00.

Hot
The chance of the Fed coming in with much over $1 trillion is the least likely scenario, but if a massive one-off blast of liquidity is seen the expectancy would be for sustained moves higher in equities and commodities, with the dollar index moving lower to test al-time lows between 70.00-72.00 before any real relief buying is seen.
Possible reaction- Eur/Usd 1.5000, S/P 1280, WTI 95.00, Dollar Index 71.00.
Attached Image (click to enlarge)
Click to Enlarge Name: 223456789012345678901345678901.gif Size: 29 KB
  • #263,093
  • Nov 3, 2010 12:49pm Nov 3, 2010 12:49pm
Attached Image (click to enlarge)
Click to Enlarge Name: 101103_gu_h4.jpg Size: 121 KB


Here is wishing for some nice words from Heli Ben. Hold on to your hats people, this is going to be a rollercoaster ride. Apart from this and a AUDUSD short at parity, I have no other positions open.

Good luck with your trades.
  • #263,094
  • Nov 3, 2010 12:50pm Nov 3, 2010 12:50pm
Quoting Fudomyo
my broker doesn't guarantee stops especially under these circumstances.

I love it how the noobs get suckered in by brokers with such blatants lies and scams.
  • #263,095
  • Nov 3, 2010 12:53pm Nov 3, 2010 12:53pm
Nice bounce of the 50% Fib level but a drive lower coming up to FOMC is possible.

GBP/USD M5 01/11 - 05/11
Attached Image (click to enlarge)
Click to Enlarge Name: gbp2.jpg Size: 361 KB
  • #263,096
  • Nov 3, 2010 1:01pm Nov 3, 2010 1:01pm
Quoting cloggie
Only people on my buddy list can contact me, I had to it was becoming ridiculous.

Any question you have regarding trading you can ask here, it may well be to the benefit of others and if I don't know the answers plenty of others may.

Ok, I can see how you got your levels this morning 4007,4023,4048 - all boxes of consolidation right? How do you get the upper breakout levels ie. 4068 ?
  • #263,097
  • Nov 3, 2010 1:02pm Nov 3, 2010 1:02pm
Quoting Sammie
Ok, I can see how you got your levels this morning 4007,4023,4048 - all boxes of consolidation right? How do you get the upper breakout levels ie. 4068 ?
Sammie,

EU uses 20 pip moves. Therefore, 4048 + 20 = 4068
GU uses 30 pip moves.
A pip is only worth it if you know how much you risked to earn it
  • #263,098
  • Nov 3, 2010 1:02pm Nov 3, 2010 1:02pm
everybody ready ??

http://www.easy-upload.net/fichiers/...1011319240.gif
ex member
  • #263,099
  • Nov 3, 2010 1:03pm Nov 3, 2010 1:03pm
Quoting Sammie
Ok, I can see how you got your levels this morning 4007,4023,4048 - all boxes of consolidation right? How do you get the upper breakout levels ie. 4068 ?
Add 20 to 4048
  • #263,100
  • Nov 3, 2010 1:05pm Nov 3, 2010 1:05pm
Quoting vlady1974
Sammie,

EU uses 20 pip moves. Therefore, 4048 + 20 = 4068
GU uses 30 pip moves.

Thank you :-) That was obvious, I can't beleive I didnt see it lol
469 traders viewing now, 5 are registered:
ricmaj
,
,
bot2
,
Moty
,
jessetoye