Cable Update (GBPUSD) | Page 15656 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #313,101
  • May 15, 2012 2:07am May 15, 2012 2:07am
Quoting littlemole
Can u send me some information or link about loonie-sterling correlation?
Thx
study the two chart mate.. they have reverse correlation.. watch how they move together.. take your time to study..

i'm sorry i can't help you more than that, i have no links whatsoever but by studying on how they move together you will then see the connection. and if you have access to futures, you might also see how cable correlate with oil.

i can say that this is quite advance analysis, if you're new to trading, i don't recommend it to you but if you have strong TA, then perhaps this is another method you can put in your toolbox.
  • #313,102
  • May 15, 2012 2:07am May 15, 2012 2:07am
cable still bearish
  • #313,103
  • May 15, 2012 2:09am May 15, 2012 2:09am
Quoting PoundTrader
ok i close this trade, waiting for another set-up
let it break 6115 first mate, then perhap can enter on pullback.. no rush..
  • #313,104
  • May 15, 2012 2:11am May 15, 2012 2:11am
Quoting A-speculator
study the two chart mate.. they have reverse correlation.. watch how they move together.. take your time to study..

i'm sorry i can't help you more than that, i have no links whatsoever but by studying on how they move together you will then see the connection. and if you have access to futures, you might also see how cable correlate with oil.

i can say that this is quite advance analysis, if you're new to trading, i don't recommend it to you but if you have strong TA, then perhaps this is another method you can put in your toolbox.
I heard about the connection between loonie and sterling. And now it is in my toolbox

I had 6 years experience but I doesnt used correlations before. Usually I trade with fundamentals and support-resistance levels. Trading as easy as possible.
"Study the past if you would define the future." Confucius
  • #313,105
  • May 15, 2012 2:15am May 15, 2012 2:15am
Quoting littlemole
I heard about the connection between loonie and sterling. And now it is in my toolbox

I had 6 years experience but I doesnt used correlations before. Usually I trade with fundamentals and support-resistance levels. Trading as easy as possible.
if that's so.. do standard TA procedure on loonie and see how they move together, you will then see the connection..

atm i have 9990 support on loonie and cable resistance is at about 6115. so i think if loonie able to closed below 9990, perhaps we might see cable trading above the 6115.. same goes when cable at 6060, loonie trading at 1.0050..

i think you know what i mean..
  • #313,106
  • May 15, 2012 2:19am May 15, 2012 2:19am
Quoting A-speculator
if that's so.. do standard TA procedure on loonie and see how they move together, you will then see the connection..

atm i have 9990 support on loonie and cable resistance is at about 6115. so i think if loonie able to closed below 9990, perhaps we might see cable trading above the 6115.. same goes when cable at 6060, loonie trading at 1.0050..

i think you know what i mean..
I know that this forum is for cable, but I see that you have more expreince than me. Can you tell me your opinion about EURJPY? Im on short from 103.05 and now a limit is waiting at 102.90 to sell.Stops at 103.50. Targets under 102
"Study the past if you would define the future." Confucius
  • #313,107
  • May 15, 2012 2:25am May 15, 2012 2:25am
Quoting A-speculator
if that's so.. do standard TA procedure on loonie and see how they move together, you will then see the connection..

atm i have 9990 support on loonie and cable resistance is at about 6115. so i think if loonie able to closed below 9990, perhaps we might see cable trading above the 6115.. same goes when cable at 6060, loonie trading at 1.0050..

i think you know what i mean..
another thing is it's not as direct as you do standard TA on your traded pair.. since loonie is not related directly to the GBP, you have to discount the effect of the fundamental movement due to CAD.

you will also have to analyze how your traded currency doing across the board by analyzing a multiple pairs known put into a "basket" of currency of your choice. this is totally dependent on the trader's preference.

by doing this, you will have some overview on how the currency is doing across the board.
  • #313,108
  • May 15, 2012 2:26am May 15, 2012 2:26am
Good Morning Traders

I can see price is fighting with 100 area. I posted my view about the market yesterday morning and my chart today says bullish to me. The only thing that worries me atm is comment about E/D dragging GB down made by Flatfish. But I am chartist and I trade what I see

http://s17.postimage.org/myhs1kglb/cabel.gif
image upload
swing it!
  • #313,109
  • May 15, 2012 2:27am May 15, 2012 2:27am
Quoting littlemole
I know that this forum is for cable, but I see that you have more expreince than me. Can you tell me your opinion about EURJPY? Im on short from 103.05 and now a limit is waiting at 102.90 to sell.Stops at 103.50. Targets under 102
i have stop trading synthetic pairs mate.. a lot of work, right now i'm only trading majors.

i'm really sorry, i can't help you on this but maybe some other traders here can. I don't even have any JPY pair(s) in my basket.
  • #313,110
  • May 15, 2012 2:32am May 15, 2012 2:32am
Quoting A-speculator
i have stop trading synthetic pairs mate.. a lot of work, right now i'm only trading majors.

i'm really sorry, i can't help you on this but maybe some other traders here can. I don't even have any JPY pair(s) in my basket.
Thank for your help and your comments, it was very useful.
"Study the past if you would define the future." Confucius
  • #313,111
  • May 15, 2012 2:33am May 15, 2012 2:33am
Quoting littlemole
Thank for your help and your comments, it was very useful.
no problem mate, you're most welcome.
  • #313,112
  • May 15, 2012 2:35am May 15, 2012 2:35am
Quoting A-speculator
i have stop trading synthetic pairs mate.. a lot of work, right now i'm only trading majors.

i'm really sorry, i can't help you on this but maybe some other traders here can. I don't even have any JPY pair(s) in my basket.
It is strongly correlated to EUR/USD here is a nice online tool for you mate
http://www.forexticket.us/en/tools/01-01-correlation
swing it!
  • #313,113
  • May 15, 2012 2:37am May 15, 2012 2:37am
Quoting tomspin
It is strongly correlated to EUR/USD here is a nice online tool for you mate
http://www.forexticket.us/en/tools/01-01-correlation
well, when trading synthetic pairs, you have to consider 3 things. Say the EJ, you have to consider the EUR,USD,JPY and how the movement & magnitude of the movement of the EUR/USD and USD/JPY.

too troublesome for me.. a lot of work.
  • #313,114
  • May 15, 2012 2:46am May 15, 2012 2:46am
Quoting A-speculator
well, when trading synthetic pairs, you have to consider 3 things. Say the EJ, you have to consider the EUR,USD,JPY and how the movement & magnitude of the movement of the EUR/USD and USD/JPY.

too troublesome for me.. a lot of work.
Agreed I prefer majors too, these days I stick to EUR USD GBP AUD sometimes Gold, less is more.
swing it!
  • #313,115
  • May 15, 2012 2:51am May 15, 2012 2:51am
oh cable.. this is why i stop trading cable for the time being.. just look at the magnitude of movement in fiber, swissy and loonie.. and where is cable? just few pips from the open... lol. thankfully i choose to trade loonie yesterday and manage to short it from the top. cable oh cable... lol.

orait guys. see u all later.
  • #313,116
  • May 15, 2012 3:02am May 15, 2012 3:02am
Bullish candle yesterday as price rallied from 6049 to 6122. Daily Pivot @/around the current daily lo with Daily S1 @/around y/day's lo of 6149 @ 6152. Daily R1 @/arouned 6124 just above yesterday's hi...Daily R2 @/around 6159.

Current bear-term 1hr shown below with 50% of that 6049-6122 also at the current daily lo as well as an ascending 1hr trend line.
------------------------------
Uk data at 0930am bst.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 125 KB
ex member
  • #313,117
  • May 15, 2012 3:12am May 15, 2012 3:12am
Slow mo because of Trade Balance, IMO. News in 18 minutes.
  • #313,118
  • May 15, 2012 3:17am May 15, 2012 3:17am
nice price action. If i see the price under 1.6080 I will go for a little workout
When I will arrive I want to count my sweet PIPs
"Study the past if you would define the future." Confucius
  • #313,119
  • May 15, 2012 3:26am May 15, 2012 3:26am
mni talking about bids 6050/60 - stronger likely toward 6000 barrier interest. Offers 6115/25
------------------------------
Uk data due in 3mins
-----------------------------
price testing previous 1hr swing hi zone

G/L
ex member
  • #313,120
  • May 15, 2012 3:31am May 15, 2012 3:31am
UK VISIBLE TRADE BALANCE (GBP/MN) [MAR] COMES IN AT -8564 MILLION POUNDS VERSUS -8400 GBP EXPECTED AND -8590 GBP REVISED PREVIOUS.
15 May 10:30:33
667 traders viewing now, 5 are registered:
askalt1980
,
meugampong
,
Khalidking
,
Gbpusdfreakk
,
PredictableV