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Cable Update (GBPUSD)

  • #292,961
  • Nov 21, 2011 8:27am Nov 21, 2011 8:27am
Quoting lwiharjo
no harm in asking right.. just wondering if someone had a clue..

my point is, is it because something happened in uk or are they somehow weaker fundamentally..

combination i think..pound joining euro
http://www.forexfactory.com/news.php?do=news&id=326794

also gold and oil falling..makes pound fall more but im guessing completely
  • #292,962
  • Nov 21, 2011 8:33am Nov 21, 2011 8:33am
thank you for the reference.. guess kinda have to see where all of this is going..

Quoting nAVIN2007
combination i think..pound joining euro
http://www.forexfactory.com/news.php?do=news&id=326794

also gold and oil falling..makes pound fall more but im guessing completely
  • #292,963
  • Nov 21, 2011 8:51am Nov 21, 2011 8:51am
Quoting lwiharjo
can someone explain to me why cable is not reacting similar to the other currency versus usd? au and eu for example are moving up against usd.. but how come only this currency seems to be struggling against usd?
Because you are wrong.

Dollar strength is across the board. The US dollar is still behaving as a "safe haven" currency.

Here is a chart.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDcomparison.gif Size: 174 KB


This is AUD/GBP compared against USD
Gone to a better place
  • #292,964
  • Nov 21, 2011 8:56am Nov 21, 2011 8:56am
Quoting nAVIN2007
combination i think..pound joining euro
http://www.forexfactory.com/news.php?do=news&id=326794

also gold and oil falling..makes pound fall more but im guessing completely
how stupid to pull anything you find in the news and associate it to the chart.
  • #292,965
  • Nov 21, 2011 8:57am Nov 21, 2011 8:57am
Should see 57 by end of day.

Gone 200 pips already, no follow through at present.

If wants to go lower will have to attack from higher.

OMO of course.
  • #292,966
  • Nov 21, 2011 9:26am Nov 21, 2011 9:26am
Quoting lwiharjo
thank you for the reference.. guess kinda have to see where all of this is going..
http://www.fx360.com/commentary/kath...=1321888077803

she tries to explain it!!..
  • #292,967
  • Nov 21, 2011 9:26am Nov 21, 2011 9:26am
Quoting DrLobo
how stupid to pull anything you find in the news and associate it to the chart.

why is that stupid?
  • #292,968
  • Nov 21, 2011 9:39am Nov 21, 2011 9:39am
Quoting nAVIN2007
combination i think..pound joining euro
http://www.forexfactory.com/news.php?do=news&id=326794

also gold and oil falling..makes pound fall more but im guessing completely
Hi Nav - I wonder if Germany and France would push for such a financial transaction tax if they had the lion's share of the FX market like the UK does?
Somehow I don't think so ...
  • #292,969
  • Nov 21, 2011 9:44am Nov 21, 2011 9:44am
Quoting nAVIN2007
why is that stupid?
sorry never meant to be rude.

however news stories like this can never be super imposed over such a chart.

all though that said I have much more stupid way of picking bottoms.
  • #292,970
  • Nov 21, 2011 9:47am Nov 21, 2011 9:47am
Quoting chazzle
Hi Nav - I wonder if Germany and France would push for such a financial transaction tax if they had the lion's share of the FX market like the UK does?
Somehow I don't think so ...


Quoting DrLobo
sorry never meant to be rude.

however news stories like this can never be super imposed over such a chart.

all though that said I have much more stupid way of picking bottoms.
no problem and I agree
question is this support?

area is highlighted on monthly with red line
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chart4.jpg Size: 74 KB
Click to Enlarge Name: chart3.jpg Size: 64 KB
  • #292,971
  • Nov 21, 2011 9:58am Nov 21, 2011 9:58am
Can it just go up already?
  • #292,972
  • Nov 21, 2011 10:34am Nov 21, 2011 10:34am
Quoting smikester
Dollar strength is across the board. The US dollar is still behaving as a "safe haven" currency.
Not fazed by 0% interest rates, money is headed to the U.S.
  • #292,973
  • Nov 21, 2011 10:59am Nov 21, 2011 10:59am
Quoting TheloniusPip
Can it just go up already?
give it some time
  • #292,974
  • Nov 21, 2011 12:43pm Nov 21, 2011 12:43pm
As we can see from GU chart,the market has broke it Previous LOW (Friday).Bearish confirm.However,currently,beware the market might touch back it previous LOW (Friday) as it NEWLY Ressistance,SR.

As long as the market stay BELOW the TL,GU is still bearish.However it had reached it Maximum Daily Range.Keep on eye on few important key Level


Twinsummit
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 1.0.gif Size: 72 KB
Trade what you SEE, don't trade what you FEEL. Be Smart! - (Webadoi)
  • #292,975
  • Nov 21, 2011 1:08pm Nov 21, 2011 1:08pm
Quoting twinsummit
As we can see from GU chart,the market has broke it Previous LOW (Friday).Bearish confirm.However,currently,beware the market might touch back it previous LOW (Friday) as it NEWLY Ressistance,SR.

As long as the market stay BELOW the TL,GU is still bearish.However it had reached it Maximum Daily Range.Keep on eye on few important key Level


Twinsummit

GU has retraced exactly 61.8 of the upmove..i doubt it will be so straight forward..time gonna tell
  • #292,976
  • Edited 3:16pm Nov 21, 2011 2:52pm | Edited 3:16pm
Quoting RamsesII
your r/r is terrible broheim
Thank you for that information...grasshopper
entry - 1.29250 s/l 200 pips
  • #292,977
  • Nov 21, 2011 2:53pm Nov 21, 2011 2:53pm
long 5665, sl 5632, tp 5710 for a quick one. Shorting after Asia for sure
Come with me if you want to live....
  • #292,978
  • Nov 21, 2011 3:01pm Nov 21, 2011 3:01pm
Quoting Ill-b-back
long 5665, sl 5632, tp 5710 for a quick one. Shorting after Asia for sure
I have a feeling they're going to go fishing for your stop since its small and in an obvious place..many others are there also..GL

Btw - I hand it to you for placing all your numbers when you made your trade..not like several on here that post their trades a few hours later lol
entry - 1.29250 s/l 200 pips
  • #292,979
  • Nov 21, 2011 3:13pm Nov 21, 2011 3:13pm
Quoting Ill-b-back
long 5665, sl 5632, tp 5710 for a quick one. Shorting after Asia for sure
I'm also long but I'm waiting for the possibility of some stop hunting to enter before I place a trade. Too much stop hunting goes on..hey its free money and lots of it for those bast*rds. As I said..good luck
entry - 1.29250 s/l 200 pips
  • #292,980
  • Nov 21, 2011 3:18pm Nov 21, 2011 3:18pm
Quoting normfx
I have a feeling they're going to go fishing for your stop since its small and in an obvious place..many others are there also..GL

Btw - I hand it to you for placing all your numbers when you made your trade..not like several on here that post their trades a few hours later lol
Yep, I agree, I have found it a bit soft, but hey, maybe they are worried that if everyone put in the same SL people may go fishing. My SL is below the 61.8 retrace of the up move that broke my 15min trendline, so it is small, but a logical place in my book. If I had to make it larger, I wouldn't do the trade as the R/R ratio would suck particularly for a counter trend move. I made 370 pips on the cable and other pairs adding nearly 20% to my account today which I am very pleased about, so I won't hang myself if I lose 33 pips here. I feel we have quite a bit further to fall with the subcommitee failure so I will be shorting any rallys for a very profitable week
Come with me if you want to live....
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