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Cable Update (GBPUSD)

  • #312,841
  • May 13, 2012 5:38pm May 13, 2012 5:38pm
Quoting Faller
Cable is in an interesting spot right now......
What's your take on things?
Come with me if you want to live....
  • #312,842
  • May 13, 2012 5:44pm May 13, 2012 5:44pm
Quoting Snarkalarker
Same here I think it will be an interesting number and it has nothing to do with 1.60 being one of those nice round numbers.

On the daily chart I have a trend line that will come into contact if it gets there.

My Weekly Support 1 is 1.6017.
Yeah, will have to see if she holds.
Come with me if you want to live....
  • #312,843
  • May 13, 2012 5:47pm May 13, 2012 5:47pm
Quoting Ill-b-back
What's your take on things?

Based on charting - and the fact that the British Pound is weighted 12% against the USDX - the dollar index. I keep watching the dollar index rise....and rise and rise.......and we all have watched Cable rise as well.

So there is something going on here -

How can two things that are weighted against each move in the same direction?

This does not seem possible - is this where the manipulation comes into play that people were talking about a few weeks ago? I don't know.....but I do know that two items that are weighted against each other must move in opposite directions at some point.

I feel an elastic band here - and sooner then later is will snap and something will give.....

It's yours to discover....

Faller.
I don't trust any move - when you have profit...take it.
  • #312,844
  • May 13, 2012 5:54pm May 13, 2012 5:54pm
Quoting Faller
Based on charting - and the fact that the British Pound is weighted 12% against the USDX - the dollar index. I keep watching the dollar index rise....and rise and rise.......and we all have watched Cable rise as well.

So there is something going on here -

How can two things that are weighted against each move in the same direction?

This does not seem possible - is this where the manipulation comes into play that people were talking about a few weeks ago? I don't know.....but I do know that two items that are weighted against each other...
Yeah it is strange, I don't have a USD index chart but pulled one up from FX pros but only seem to go as high as daily. Do you know where I can view a weekly and monthly one on the web? I did a search but
nothing came up.
Come with me if you want to live....
  • #312,845
  • May 13, 2012 5:59pm May 13, 2012 5:59pm
Quoting Faller
- and the fact that the British Pound is weighted 12% against the USDX - the dollar index.

How can two things that are weighted against each move in the same direction?
Because one is weighted at only 12% of the other.

What are the 88% doing?

Maybe it will be at my own peril I ignore the USDX. Just watch the EUR instead? But if I am just going to watch that should I instead just watch the S&P instead?

Or maybe just good old fashion S/R is best?

By the time I figure it out the whole paradigm will have changed by then.
  • #312,846
  • May 13, 2012 6:00pm May 13, 2012 6:00pm
Quoting Ill-b-back
Yeah it is strange, I don't have a USD index chart but pulled one up from FX pros but only seem to go as high as daily. Do you know where I can view a weekly and monthly one on the web? I did a search but
nothing came up.
sorry bro....don't know of any web based sites for that.....
I don't trust any move - when you have profit...take it.
  • #312,847
  • May 13, 2012 6:03pm May 13, 2012 6:03pm
You can find wkly /monthly usd index chart at netdania.com
  • #312,848
  • May 13, 2012 6:09pm May 13, 2012 6:09pm
Quoting Faller
sorry bro....don't know of any web based sites for that.....
No worries thx Faller.
Come with me if you want to live....
  • #312,849
  • May 13, 2012 6:10pm May 13, 2012 6:10pm
Quoting dami32
You can find wkly /monthly usd index chart at netdania.com
Ok thank you
Come with me if you want to live....
  • #312,850
  • May 13, 2012 6:11pm May 13, 2012 6:11pm
Quoting Ill-b-back
What's your take on things?

My take on things also started back on May 10th....if you go back through my posts you will see what I was hinting at and telling people.....that was last Thursday.....and since then we have slow dropped 100 pips......nice gradual drop.........

Not sure what it means....but that is what I saw.....
I don't trust any move - when you have profit...take it.
  • #312,851
  • May 13, 2012 6:14pm May 13, 2012 6:14pm
Quoting dami32
You can find wkly /monthly usd index chart at netdania.com

Very nice site....thanks for sharing.

Faller.
I don't trust any move - when you have profit...take it.
  • #312,852
  • May 13, 2012 6:15pm May 13, 2012 6:15pm
some nice candle patterns indicating north direction including fib line. i'm still short as it seems obvious that the long is the play. with that said i'm 98% wrong on sundays.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd0513.png Size: 47 KB
  • #312,853
  • May 13, 2012 6:50pm May 13, 2012 6:50pm
80.60 on DX (futures) - if it breaks......watch out.
I don't trust any move - when you have profit...take it.
  • #312,854
  • May 13, 2012 6:51pm May 13, 2012 6:51pm
Quoting Faller
80.60 on DX (futures) - if it breaks......watch out.

I am scared.....

who is long?
I don't trust any move - when you have profit...take it.
  • #312,855
  • May 13, 2012 6:57pm May 13, 2012 6:57pm
Stupid cable. About to cost me 10 pip again. Why is it so soft nowadays? It's softer than the euro.
Make your losses in demo. Earn your profits live.
  • #312,856
  • May 13, 2012 7:15pm May 13, 2012 7:15pm
Quoting Forexia
Stupid cable. About to cost me 10 pip again. Why is it so soft nowadays? It's softer than the euro.
sorry, I have to laugh at this irony. Cable takes 10 pips from you and you say IT is stupid. No disrespect intended, I just thought that was funny.
Come with me if you want to live....
  • #312,857
  • May 13, 2012 7:20pm May 13, 2012 7:20pm
Quoting Ill-b-back
sorry, I have to laugh at this irony. Cable takes 10 pips from you and you say IT is stupid. No disrespect intended, I just thought that was funny.

I am still scared...
I don't trust any move - when you have profit...take it.
  • #312,858
  • May 13, 2012 7:30pm May 13, 2012 7:30pm
i want to take profit but the more you guys say you are long the longer i may hold. of course, one spike north and i walk away with stu gotz (nothin).
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd0513a.png Size: 63 KB
  • #312,859
  • May 13, 2012 7:31pm May 13, 2012 7:31pm
Quoting sdcasper
i want to take profit but the more you guys say you are long the longer i may hold. of course, one spike north and i walk away with stu gotz (nothin).

plan your trade.....trade your plan.....don't bother with anyone in here....
I don't trust any move - when you have profit...take it.
  • #312,860
  • May 13, 2012 8:31pm May 13, 2012 8:31pm
Quoting Faller
I am still scared...
No need to be scared bro,
Come with me if you want to live....
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