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Cable Update (GBPUSD)

  • #309,461
  • Apr 24, 2012 4:52am Apr 24, 2012 4:52am
How is everyone doing?

I'm still hedging from 5970..

I put a buy entry last friday around 16xx

It saved me... waiting the bear fundies are sure suffering last week..

Edit: atm, I'm trying to be out of the 95% list...lol
I trade to live
  • #309,462
  • Apr 24, 2012 4:52am Apr 24, 2012 4:52am
Quoting PoundTrader
time to get taking out.
Poundtrader - why are you getting out?
  • #309,463
  • Apr 24, 2012 4:53am Apr 24, 2012 4:53am
Quoting manniMe
If currently there are approx. 80% of traders short and GBP tanks. Who would loose money?
on the 80% side could be 1 billion, and on the loser side could be 10 billion, so the 80% that won would only milk a 1 billion from the 20% that lost
  • #309,464
  • Apr 24, 2012 4:54am Apr 24, 2012 4:54am
Quoting aerogrammer
Poundtrader - why are you getting out?
i was talking about my s/l. witch didn't get hit yet, so im still in that trade
  • #309,465
  • Apr 24, 2012 4:55am Apr 24, 2012 4:55am
Quoting PoundTrader
i was talking about my s/l. witch didn't get hit yet, so im still in that trade
Sorry, read that wrong. I got in at 55 at the third run up.
  • #309,466
  • Apr 24, 2012 4:58am Apr 24, 2012 4:58am
Quoting Davit
you seem to be correct.
+15.9B
But nothing.....what a stubborn currency.So fking English
Demand for cable high due to olympics ?? maybe after the olympics we can see it goin' down to 1.4 ..
  • #309,467
  • Apr 24, 2012 5:02am Apr 24, 2012 5:02am
Quoting aerogrammer
Sorry, read that wrong. I got in at 55 at the third run up.
All the best to us.
  • #309,468
  • Apr 24, 2012 5:09am Apr 24, 2012 5:09am
im chilling
Attached Image
  • #309,469
  • Apr 24, 2012 5:14am Apr 24, 2012 5:14am
stating the bleeding obvious - for what it is worth

http://www.fxtechstrategy.com/

GBPUSD: With the pair resuming its bullish offensive after a brief pause on Monday, the next barrier lies at its Oct 31’2011 high at 1.6161. This is coming on the back of a break and hold above its key resistance at 1.6059 level. A decisive break and hold above the 1.6161 level will pave the way for a move higher towards the 1.6293 level, its weekly 200 ema followed by the 1.6451 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, below the 1.6059 level will have to occur to reverse its present upside offensive. However, the bigger support resides at its trendline and the 1.5642/53 levels, its Feb 14/15’2012 lows where a breach if seen will aim at the 1.5497 level, its Jan 10’2012 high. On the whole, the pair continues to hold on to its medium term uptrend.

G/L
ex member
  • #309,470
  • Apr 24, 2012 5:22am Apr 24, 2012 5:22am
Quoting PoundTrader
im chilling

Attached Image (click to enlarge)
Click to Enlarge Name: chillin.jpg Size: 83 KB
I don't trust any move - when you have profit...take it.
  • #309,471
  • Apr 24, 2012 5:26am Apr 24, 2012 5:26am
Quoting Faller

Very nice one bro, very nice, love it.
Come with me if you want to live....
  • #309,472
  • Apr 24, 2012 5:43am Apr 24, 2012 5:43am
All eyes on 6148-65 level....
Attached Image
  • #309,473
  • Apr 24, 2012 5:46am Apr 24, 2012 5:46am
6157 the current daily hi and this Hi is only 9 pips higher than last week's 6148 hi - supply in the zone leading to 6165 proving problematic for the bulls and further upside progress ? 50% of 20 day atr covered by price so far today, 33% of 20 week atr so far this week. Probably still favours an upside break ?

6145-65 prev Wkly/Daily sw hi zone incl 6164= 76.4% 6454-5234 and Monthly R1 @/around
6167 61.8% 6746-5234
6170 Daily R2 @/around
6207 Daily R3 @/around
6240-79 prev minor Daily sw lo zone (non immed) incl 6241 = Weekly R1 @/around, and 6275= 85.4% 6454-5234
6289 76.4% 6617-5234
6316 Monthly R2 @/around
6335-40 Weekly descending trend line on present Daily candle (Tuesday)
6360 Weekly R2 @/around
6388 76.4% 6746-5234
6415 85.4% 6617-5234
6420-53 prev Daily sw hi zone
6524 85.4% 6746-5234
[ 6550-73 prev Daily sw hi zone incl 6571 Weekly R3 @/around
[ 6560-70 Weekly descending trend line on present Daily candle (Tuesday)
6580-6617 prev Weekly/Daily sw hi zone incl 6597 = Monthly R3 @/around

5min says it all today so far:

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 60 KB
ex member
  • #309,474
  • Apr 24, 2012 5:52am Apr 24, 2012 5:52am
Quoting nAVIN2007
its not the percentage..remember 80% lose 20% win

its where the most money is..right now there more money long than there is short (i think)..lol
That's exactly what happened now. Still a long way to go.
  • #309,475
  • Apr 24, 2012 5:53am Apr 24, 2012 5:53am
oh boy, im gonna .... myself
  • #309,476
  • Apr 24, 2012 6:09am Apr 24, 2012 6:09am
Quoting PoundTrader
oh boy, im gonna .... myself

WE ARE ABOVE THE WEEKLY HIGH..yur ass is toast i think bro
  • #309,477
  • Apr 24, 2012 6:11am Apr 24, 2012 6:11am
Quoting Faller

i see u staring at the bear..and saying "wtf"
  • #309,478
  • Apr 24, 2012 6:16am Apr 24, 2012 6:16am
Quoting nAVIN2007
i see u staring at the bear..and saying "wtf"

all good.....flat here.....just watching.

waiting....watching......waiting....

GL

Faller.
I don't trust any move - when you have profit...take it.
  • #309,479
  • Apr 24, 2012 6:22am Apr 24, 2012 6:22am
I see many here are aware that the market is heavily short cable. So for those that don't understand why it is important I thought I try to explain it simply. As your broker takes more bets on cable going down it will seek to hedge the potential losss by buying a forward cable rate, so if the market falls it can execise the option and offset the loss it pays out to its clients. But at the same time buying the futures results in spot price being dragged higher- hence the more people short the more the price rises until the shorts give up and the banks no longer need to keep buying.
  • #309,480
  • Apr 24, 2012 6:28am Apr 24, 2012 6:28am
Quoting Flatfish
I see many here are aware that the market is heavily short cable. So for those that don't understand why it is important I thought I try to explain it simply. As your broker takes more bets on cable going down it will seek to hedge the potential losss by buying a forward cable rate, so if the market falls it can execise the option and offset the loss it pays out to its clients. But at the same time buying the futures results in spot price being dragged higher- hence the more people short the more the price rises until the shorts give up and the...
if broker is not bucket shop it will send all orders to the banks so no need to hedge,and the likes like oanda they hedge most orders with other clients,and bucket shops dont even put out your oorders to the market and wait for your margin call
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