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Cable Update (GBPUSD)

  • #299,261
  • Jan 26, 2012 5:57pm Jan 26, 2012 5:57pm
GBP FUTURES
GBP/USD
Date 26/01/2012
Total Open Interest 188,833
Net Marginal Change -1,207
Marginal Accumulation -25,957
Change in Total OI (%) -12.2

And another day of open interest decline in British Pound futures. This time traders dropped 1,207 at the rising prices. The total decline in OI since 13th Jan amounts to 12.2%. This is a significant level to reverse the bearish trend. We recommend buying GPB/USD on pullbacks.
  • #299,262
  • Jan 26, 2012 6:17pm Jan 26, 2012 6:17pm
Quoting gfs
GBP FUTURES
GBP/USD
Date 26/01/2012
Total Open Interest 188,833
Net Marginal Change -1,207
Marginal Accumulation -25,957
Change in Total OI (%) -12.2

And another day of open interest decline in British Pound futures. This time traders dropped 1,207 at the rising prices. The total decline in OI since 13th Jan amounts to 12.2%. This is a significant level to reverse the bearish trend. We recommend buying GPB/USD on pullbacks.

I thought it would be important to shed some light on your misguided above comments. Before you post something of this magnitude it is best that you understand the terminology of what you are passing on. Please don't mislead people in this forum. Here is a link to what open interest actually means.... http://en.wikipedia.org/wiki/Open_interest

and right below here is the main guts of what you need to know about open interest and how best to apply it to your trading strategy.


Benefits of Monitoring Open Interest

By monitoring the changes in the open interest figures at the end of each trading day, some conclusions about the day’s activity can be drawn.
Increasing open interest means that new money is flowing into the marketplace. The result will be that the present trend (up, down or sideways) will continue.
Declining open interest means that the market is liquidating and implies that the prevailing price trend is coming to an end. A knowledge of open interest can prove useful toward the end of major market moves.
A leveling off of open interest following a sustained price advance is often an early warning of the end to an uptrending or bull market.




Hope this is been beneficially to everyone.


Cheers,


Faller.
I don't trust any move - when you have profit...take it.
  • #299,263
  • Jan 26, 2012 6:27pm Jan 26, 2012 6:27pm
Quoting gfs
GBP FUTURES
GBP/USD
Date 26/01/2012
Total Open Interest 188,833
Net Marginal Change -1,207
Marginal Accumulation -25,957
Change in Total OI (%) -12.2

And another day of open interest decline in British Pound futures. This time traders dropped 1,207 at the rising prices. The total decline in OI since 13th Jan amounts to 12.2%. This is a significant level to reverse the bearish trend. We recommend buying GPB/USD on pullbacks.
And all you had to do was click on your own signature!!!! Daily Currency Futures and Open Interest report

that link takes you to a page and at the top of that page you can click on a link "What is an open interest" and on that page it tells you everything you need to know about open interest.....

Who is "we" are recommending buying cable on pullbacks? Are you a paid service????
I don't trust any move - when you have profit...take it.
  • #299,264
  • Edited 6:49pm Jan 26, 2012 6:38pm | Edited 6:49pm
Dear Faller

Benefits of Monitoring Open Interest

By monitoring the changes in the open interest figures at the end of each trading day, some conclusions about the day’s activity can be drawn.

Correct

Increasing open interest means that new money is flowing into the marketplace. The result will be that the present trend (up, down or sideways) will continue.

Correct

Declining open interest means that the market is liquidating and implies that the prevailing price trend is coming to an end.

Correct
GBP futures dropped over 12% OI since 13th Jan. This is first deline since 1.61.This indicates (to me) the end of the bearish trend (1.61 - 1.53). Price action can range during the decline, as it happened in this case.
GBP futures tend to reverse the trend at around 10% as it did over the last 18 months.

This explains the point below.

A knowledge of open interest can prove useful toward the end of major market moves.

A leveling off of open interest following a sustained price advance is often an early warning of the end to an uptrending or bull market.

GBP futures open interest leveled over the last two weeks (measured as a rate of change ie. % added). This varies from market to market. Cable tends to drop OI rapidly.
I suppose the time will prove one of us wrong.

Regards
  • #299,265
  • Jan 26, 2012 6:45pm Jan 26, 2012 6:45pm
Quoting gfs
Dear Faller




yes?
I don't trust any move - when you have profit...take it.
  • #299,266
  • Jan 26, 2012 7:18pm Jan 26, 2012 7:18pm
Quoting gfs
Dear Faller

Benefits of Monitoring Open Interest

By monitoring the changes in the open interest figures at the end of each trading day, some conclusions about the day’s activity can be drawn.

Correct

Increasing open interest means that new money is flowing into the marketplace. The result will be that the present trend (up, down or sideways) will continue.

Correct

[color=Blue]Declining open interest means that the market...
I think if you had mentioned that OI was leveling over the last 2 weeks, your message would have been clearer. Your original post indicated that OI had declined only, no more info given. Your bullish sentiment while supported technically, seemed to me, to be contradictory as a result.
Come with me if you want to live....
  • #299,267
  • Jan 26, 2012 7:24pm Jan 26, 2012 7:24pm
Quoting Ill-b-back
I think if you had mentioned that OI was leveling over the last 2 weeks, your message would have been clearer. Your original post indicated that OI had declined only, no more info given. Your bullish sentiment while supported technically, seemed to me, to be contradictory as a result.
Actually, ignore this, I don't think I know what the hell I am talking about. Sorry
Come with me if you want to live....
  • #299,268
  • Jan 26, 2012 7:35pm Jan 26, 2012 7:35pm
Quoting Ill-b-back
Actually, ignore this, I don't think I know what the hell I am talking about. Sorry
No, your comment was good.

but I think what gfs meant by declined OI was for Bearish position that had been there for sometime, means its about to turn to bullish.

good morning/day btw
  • #299,269
  • Jan 26, 2012 7:40pm Jan 26, 2012 7:40pm
long 1.5666........tp open
  • #299,270
  • Jan 26, 2012 7:44pm Jan 26, 2012 7:44pm
Quoting Ill-b-back
Actually, ignore this, I don't think I know what the hell I am talking about. Sorry
LOL you're totally funny dude!! trying to get in but not so sure!!
I trade to live
  • #299,271
  • Jan 26, 2012 7:46pm Jan 26, 2012 7:46pm
Quoting gsantri
No, your comment was good.

but I think what gfs meant by declined OI was for Bearish position that had been there for sometime, means its about to turn to bullish.

good morning/day btw
Uh, ok, I don't think I even know what open interest is (interest paid to holders of a currency??), I just trade trendlines, and more recently toying with weekly fib levels. I won't take up much of your time I promise but I might let myself learn something here. So OI is paid to holders of that particular currency?? Thx in advance.
Come with me if you want to live....
  • #299,272
  • Jan 26, 2012 7:49pm Jan 26, 2012 7:49pm
Quoting abdul_halim
test..
short at 1.5657
and will close depend on price movement
update..
Holding..
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  • #299,273
  • Jan 26, 2012 7:50pm Jan 26, 2012 7:50pm
this comment is for all GU traders, just for fun, why don't we try to engage together to moves the price? isn't it the big player/corporation moves most the GU prices? so why don't we combined in this moment to moves price in our way? interesting isn't it?
I trade to live
  • #299,274
  • Jan 26, 2012 7:54pm Jan 26, 2012 7:54pm
Quoting UbuFamily
LOL you're totally funny dude!! trying to get in but not so sure!!
Hey Ubu , I really like your Avatar dude
Come with me if you want to live....
  • #299,275
  • Jan 26, 2012 7:57pm Jan 26, 2012 7:57pm
Quoting UbuFamily
this comment is for all GU traders, just for fun, why don't we try to engage together to moves the price? isn't it the big player/corporation moves most the GU prices? so why don't we combined in this moment to moves price in our way? interesting isn't it?
Ha, ha, I really hope you're joking bro. And you think I am funny
Come with me if you want to live....
  • #299,276
  • Jan 26, 2012 8:06pm Jan 26, 2012 8:06pm
Closed my short position from earlier..... http://www.forexfactory.com/showthre...17#post5330117

Also posting my trading results for the day.......going to call it a night here.

Oh...closed position for 18 pips.....was looking for 30 to 70 pip drop.....did not want to be greedy....also want to sleep tonight.....the yen kept me up all last night.

Cheers,

Faller.
Attached Image (click to enlarge)
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I don't trust any move - when you have profit...take it.
  • #299,277
  • Jan 26, 2012 8:07pm Jan 26, 2012 8:07pm
Quoting Ill-b-back
Uh, ok, I don't think I even know what open interest is (interest paid to holders of a currency??), I just trade trendlines, and more recently toying with weekly fib levels. I won't take up much of your time I promise but I might let myself learn something here. So OI is paid to holders of that particular currency?? Thx in advance.
Or simply interest in holding a particular currency. Might read up on this
Come with me if you want to live....
  • #299,278
  • Jan 26, 2012 8:14pm Jan 26, 2012 8:14pm
Quoting Ill-b-back
Hey Ubu , I really like your Avatar dude
haha am not a clown dude...just a stress-free break here....Arghhhh hopefully next week doesn't shows conflicting trendlines as this week...everything breaks everything..& everyone's a different head now..oh gosh what a week here..
I trade to live
  • #299,279
  • Jan 26, 2012 8:16pm Jan 26, 2012 8:16pm
Quoting Ill-b-back
Ha, ha, I really hope you're joking bro. And you think I am funny

ha ha angry bird love jokes!!
I trade to live
  • #299,280
  • Jan 26, 2012 8:22pm Jan 26, 2012 8:22pm
Quoting UbuFamily
haha am not a clown dude...just a stress-free break here....Arghhhh hopefully next week doesn't shows conflicting trendlines as this week...everything breaks everything..& everyone's a different head now..oh gosh what a week here..
I know EXACTLY what you mean. Did you get weird signals last 2 Frankie/London opens??
Come with me if you want to live....
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