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Cable Update (GBPUSD)

  • #265,581
  • Nov 30, 2010 6:02pm Nov 30, 2010 6:02pm
he made the wrong statement, he want to say "outsider" instead of "insider"


By the way, which insider you have been talk to? do you know how much money require to move the market and describe as insider?!

wake up my friend.
  • #265,582
  • Nov 30, 2010 7:29pm Nov 30, 2010 7:29pm
Euro Continues to Tumble



The EUR/USD fell below a significant Fibonacci level as the euro
continues to be sold amid European debt fears.



In European trading hours the euro was weaker on the back of the
European debt crisis. Contagion fears are rampant as economists and
analysts attempt to identify the next European nation that may require
financial assistance.



The release of an 85 billion euro bailout package for Ireland has not
helped to ease situation. A potential split in the government coalition
threatens to break up the ruling government and delay the passing of the
next year's budget which includes considerable belt tightening as
required by the joint EU/IMF bailout package.



Irish bonds have also sold off as new European legislation threatens
subordinate bank bond holders to take a haircut of 80%
  • #265,583
  • Nov 30, 2010 8:40pm Nov 30, 2010 8:40pm
Quoting snatch
From what I've heard from an insider, the major banks are still shorting the dollar and long on sterling, and as a hedge short on eur; so i'd be careful to be bearish on the pound as the fundamentals confirm the PA observed...

if you feel like shorting, go with the euro, otherwise come up with a fundamental reason as most cannot see it; just my opinion

thanks
Not sure about the insider bit but let's look at it this way, if the euro were to bounce -a little- over the next day or so, the GBP would likely respond more bullishly to a firming euro and I could see it up to the 150ma on the hrly chart @1.57 -still within the context of it's current downtrend
  • #265,584
  • Nov 30, 2010 9:03pm Nov 30, 2010 9:03pm
Quoting Trendstar
Not sure about the insider bit but let's look at it this way, if the euro were to bounce -a little- over the next day or so, the GBP would likely respond more bullishly to a firming euro and I could see it up to the 150ma on the hrly chart @1.57 -still within the context of it's current downtrend
check out my posting on my vsa thread on gu

it has been bought heavy last 2 days....not even completing days ranges to downside while euro tanks. I am only day trading but if I see an up day incomplete when i wake at 4am pst tomorrow I will be targeting 1.5700 like you

I do not trust this market one day to the next , so reserve the right to say ' is seamingly being bought in normal market conditions' 15 points up and down in a day on es is NOT normal , but fun to trade
Blogging daily now at www.volume.zone
  • #265,585
  • Nov 30, 2010 10:28pm Nov 30, 2010 10:28pm
Quoting malcolmb14
check out my posting on my vsa thread on gu

it has been bought heavy last 2 days....not even completing days ranges to downside while euro tanks. I am only day trading but if I see an up day incomplete when i wake at 4am pst tomorrow I will be targeting 1.5700 like you

I do not trust this market one day to the next , so reserve the right to say ' is seamingly being bought in normal market conditions' 15 points up and down in a day on es is NOT normal , but fun to trade
-I will check that out. Theses things are always fun to trade .. some days more than others!
  • #265,586
  • Dec 1, 2010 12:13am Dec 1, 2010 12:13am
My name is dalton russel. Pay strict attention to what i say, because i pick my words carefully and i never repeat myself. I've told you my name, that's the who. The where can most be readily described as a prison cell. But there is a vast difference between being stuck in a tiny cell & being in prison. The what is easy, recently I planned & set in motion events to execute the perfect bank robbery, that's also the when. As for the why, beyond the obvious financial motivation is exceedingly simple .... because I can.

Inserted Video
Thank You
  • #265,587
  • Dec 1, 2010 12:43am Dec 1, 2010 12:43am
Quoting wormboy
cleared my remaining shorts @5516. Not waiting for the monthly support @472 as the usdx is now at strong resistance.

Good luck to everyone.
chart below is the current level for December & cable is undoubtedly bearish having opened below the monthly pivot. i/d setup atm however is bullish with price being above the dp & the presence of an engulfing pattern. My position atm is flat & will only consider buying once price close above 5583 cleanly. Nearest support atm is the dp @5547.

Good luck.
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Thank You
  • #265,588
  • Dec 1, 2010 12:50am Dec 1, 2010 12:50am
hi
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  • #265,589
  • Dec 1, 2010 1:05am Dec 1, 2010 1:05am
Quoting masoud_s
hi
interesting to see that your 50% retrace is also the monthly pivot.


nice hair btw
Thank You
  • #265,590
  • Dec 1, 2010 1:14am Dec 1, 2010 1:14am
ready to up 500 pips from now
ntah correct or not
  • #265,591
  • Dec 1, 2010 1:37am Dec 1, 2010 1:37am
Did GBP change course again of is it just Frankfurt?
New voice message: Why are you calling me? If I need you, I'll call you!
  • #265,592
  • Dec 1, 2010 1:40am Dec 1, 2010 1:40am
had a scalp on this already this morning (long) looking for a retest of 15550 for another
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  • #265,593
  • Dec 1, 2010 1:42am Dec 1, 2010 1:42am
Quoting chazzle
Major Banks move this market my friend , if they were shorting the dollar and buying Sterling we would see Cable going up instead of down

No offence but "from what I've heard from an insider" doesn't really cut it for me , lol

And if you want a fundamental reason to short cable how about the fact that the UK is exposed to the tune of many 10s of billions in EUROpe

Own up - your post is a wind-up? A joke?

Everyone owns billions in europe including the USA! But unlike the USA, the UK owns its central bank and hence run in the interest of the UK. The dollar will be a thing of the past once the euro dissolves and the recession is over in the next 3-5 years; these are long term investors I was talking about, not traders trying to make few $K...

I was also trying to help, so instead please go ahead and short the sterling, you have my backing...

with best wishes
  • #265,594
  • Dec 1, 2010 1:56am Dec 1, 2010 1:56am
Quoting wormboy
interesting to see that your 50% retrace is also the monthly pivot.


nice hair btw
thnaks to helping me to better undreastand ing
  • #265,595
  • Dec 1, 2010 1:57am Dec 1, 2010 1:57am
Quoting snatch
Everyone owns billions in europe including the USA! But unlike the USA, the UK owns its central bank and hence run in the interest of the UK. The dollar will be a thing of the past once the euro dissolves and the recession is over in the next 3-5 years; these are long term investors I was talking about, not traders trying to make few $K...

I was also trying to help, so instead please go ahead and short the sterling, you have my backing...

with best wishes
I agree - anyone shorting the pound at the moment is going against the grain. The pound is bullish in the longterm !
  • #265,596
  • Dec 1, 2010 1:59am Dec 1, 2010 1:59am
Quoting snatch
Everyone owns billions in europe including the USA! But unlike the USA, the UK owns its central bank and hence run in the interest of the UK. The dollar will be a thing of the past once the euro dissolves and the recession is over in the next 3-5 years; these are long term investors I was talking about, not traders trying to make few $K...

I was also trying to help, so instead please go ahead and short the sterling, you have my backing...

with best wishes
tbh Snatch...I fall into the latter category (traders trying to make a few Łk) and most of my trades are scalps...so it doesn't matter,I don't try to form a long term bias...thanks for your view
  • #265,597
  • Edited 2:31am Dec 1, 2010 2:12am | Edited 2:31am
G/M

Cable's lo yesterday was @ 5483. The 110 pip pullback created a daily doji candle as price found supply at the prrevious swing hi on 1hr and the subsequent pullback has found fresh demand at the previous 1hr swing hi zone (previous resistance=potential rbs) where there has been a further test early this London session.

There has now been a break and 4hr candle close above it's steep descending trend line/upper equidistant channel.

The current 1hr screenshot is below...4hr fibs are drawn from 6297,6183,6093 and 5936 to the current 5484 lo.

Uk and U.s data later and right now Uk Boe Mpc member Tucker is speaking.

G/L

http://www.easy-upload.net/fichiers/z.201012191130.gif
ex member
  • #265,598
  • Dec 1, 2010 2:21am Dec 1, 2010 2:21am
more 10 pip for comfirmation!!!
  • #265,599
  • Dec 1, 2010 2:21am Dec 1, 2010 2:21am
The situation in respect of overall price action (opa) peak-valley analysis is concerned re trend is that on daily we have had 3 x LH and a L then LL so a downtrend, and on weekly a L now (not fractal yet but will be a L) below the last HL of it's uptrend.

4hr has now seen a H above the last LH of it's downtrend.

G/L
ex member
  • #265,600
  • Dec 1, 2010 2:32am Dec 1, 2010 2:32am
38.2% 5793-5483 1hr swing the current stumbling block to further upside recovery.

G/L
ex member
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