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Cable Update (GBPUSD)

  • #322,701
  • Aug 24, 2012 3:12pm Aug 24, 2012 3:12pm
Quoting bguguen
okay this is for my fellas here...
im fucking tipsy....

1. had a boat trip today and that whole 8 hours made me really tipsy even im on land...
2. i went clubbing with friends straight after the boat ride...

but yea im still sober as the judge...

to be honest with you guys, ive warned a lot of people that the whole risk on hype was someone premature....
i probably shouldn't sound like i know much but.....
the weird thing was Equities were flat or going down all week long and yet risk pairs were flying up, just because rumors of QE3 is coming...

Hey my friend glad you were able to let loose!

One word of caution in your post - and I have been thinking of this for a while....you say that if there is QE3 you are going to go bloddy long and invest big in equities. Think of it this way - what you are saying is what happened during first QE and QE2 - and although markets went up and commodities went up during those QE's things really did not get much better. We are at all time highs and 52 week highs for many equities......ALL TIME HIGHS and things are still in the crapper globally. On the flip side I wonder if the BIG BOYS will say....well the first 2 QE's were not able to pull us out this mess.....how will QE3 be any different.......and what if the bankers just take all that money from QE3 put it in their pockets.......then sell the equity market from these all time highs.......build there balance sheet......as the markets tank........and then the following quarters the banks start posting INCREDIBLE earnings......then people may think that things are getting better as the market went down but the banks are doing better..........just my humble thoughts. I am not very educated.....but I do have a Degree from a University - not that means anything..........anyway.....I will stop my ramble.

Good weekend to you.....drink some water and take an advil.......or keep pounding the booze all night long!

Faller.
I don't trust any move - when you have profit...take it.
  • #322,702
  • Aug 24, 2012 3:13pm Aug 24, 2012 3:13pm
Quoting redbeben
1.5772?
before market closes ? monday gap ? ever ?
  • #322,703
  • Aug 24, 2012 3:21pm Aug 24, 2012 3:21pm
Quoting Faller
Hey my friend glad you were able to let loose!

One word of caution in your post - and I have been thinking of this for a while....you say that if there is QE3 you are going to go bloddy long and invest big in equities. Think of it this way - what you are saying is what happened during first QE and QE2 - and although markets went up and commodities went up during those QE's things really did not get much better. We are at all time highs and 52 week highs for many equities......ALL TIME HIGHS and things are still in the crapper globally. On...

good explanation from both of you


but I really have no idea what equities are I'm dumb as a pile of mud

my only concern is this.if USA said and will QE3 this will rocket GU

if GU is strong it will QE from BOE or rate cut...soo....what's the big idea of all this cat and mouse chase? the fastest one with QE wins the game or what ?

I quit trying to understand.

anyway,apart from this as weekend is coming I eat some boiled eggs after heavy drinks.studies show they help....never did me any good so far but I keep trying.
  • #322,704
  • Aug 24, 2012 4:21pm Aug 24, 2012 4:21pm
Quoting Faller
Hey my friend glad you were able to let loose!

One word of caution in your post - and I have been thinking of this for a while....you say that if there is QE3 you are going to go bloddy long and invest big in equities. Think of it this way - what you are saying is what happened during first QE and QE2 - and although markets went up and commodities went up during those QE's things really did not get much better. We are at all time highs and 52 week highs for many equities......ALL TIME HIGHS and things are still in the crapper globally. On the...
If the QE3 really happens soon, the best option is go bullish with JPY and stay away from EUR and USD. Also I Had a gorgeous week trading USDSEK and EURSEK, but i guess the best choice is look to the asiatic currencies as AUD, NZD or JPY
  • #322,705
  • Aug 24, 2012 4:50pm Aug 24, 2012 4:50pm
Peoples must differentiate between trend line in daily, weekly and so on...
this is what i called the target i noticed before.

Every one in this game (i like call it like this) try to be right all the time this is our nature as human, when we are wrong we try to find our pretext and it will happen all the time.
when we gain money will be confident and happy,if not we will try again and again.

if it is all the time wins ,this is not a business .

Concerning Pound Trader.I did say before this time..

Every one can be a good trader, no one can be pound trader.

this is like heavy drug no body can get out from.


Have nice week all.

Back to work here.
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #322,706
  • Aug 24, 2012 7:07pm Aug 24, 2012 7:07pm
Some great posts here, especially bguguen being drunk,

I think the QE thing is the primary driver of the markets right now and Redbeben touched on something very important that seems to be being overlooked. The QE in the UK which is FAR more likley than the US and even talk in the UK of a rate cut.

This was being bounded around until cable moved higher and suddenly King is doing what he can to play it down.

As outlined by Faller the actual results of QE are now way more complex to imagine and i too fear the winners will be the banks (of course).

Everywhere is fooked right now and struggling to find any solution that makes sense.

I personally dont think we will see QE3 in the USA, not unless numbers in the next few weeks are bad. September or not for QE, nothing in September, nothing until after the election? Next year Q1 and Q2 likely to see improving jobs market and housing improving. Slow but steady growth but this will be viewed as enough when most other parts of the world is stagnant. What more can they ask for right now.
Money never sleeps...
  • #322,707
  • Aug 24, 2012 8:00pm Aug 24, 2012 8:00pm
Quoting redbeben
good explanation from both of you


but I really have no idea what equities are I'm dumb as a pile of mud

my only concern is this.if USA said and will QE3 this will rocket GU

if GU is strong it will QE from BOE or rate cut...soo....what's the big idea of all this cat and mouse chase? the fastest one with QE wins the game or what ?

I quit trying to understand.

anyway,apart from this as weekend is coming I eat some boiled eggs after heavy drinks.studies show they help....never did me any good so far but I keep trying.

It is a currency war.....each country is taking it's turn at having a devalued currency.....slowly slowly currencies are coming to be at par with the USD - once all currencies are at par....hmmmmm then what? One world currency? Now this is a stretch........but this is definitely a currency war. No country wants a strong currency.

Also there is more and more talk of bringing back the Gold Standard - all very interesting.


Good weekend to all....

Faller.
I don't trust any move - when you have profit...take it.
  • #322,708
  • Aug 24, 2012 10:38pm Aug 24, 2012 10:38pm
Here is my cable chart simple,
Attached Image (click to enlarge)
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #322,709
  • Aug 24, 2012 10:46pm Aug 24, 2012 10:46pm
Quoting XTrade
Here is my cable chart simple,
It looks like my chart, but I hope it won't go as low as 5768 or 5736.
That 5800 looks like a good place where to bounce
  • #322,710
  • Aug 24, 2012 10:54pm Aug 24, 2012 10:54pm
It's called the race to debase, and they all take turns.

Quoting Faller
It is a currency war.....each country is taking it's turn at having a devalued currency.....slowly slowly currencies are coming to be at par with the USD - once all currencies are at par....hmmmmm then what? One world currency? Now this is a stretch........but this is definitely a currency war. No country wants a strong currency.

Also there is more and more talk of bringing back the Gold Standard - all very interesting.


Good weekend to all....

Faller.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #322,711
  • Aug 24, 2012 11:24pm Aug 24, 2012 11:24pm
will 1.5800 still be a strong support ?
Attached Image (click to enlarge)
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A chart helps those who can read it.
  • #322,712
  • Aug 24, 2012 11:34pm Aug 24, 2012 11:34pm
Quoting geniusztc
will 1.5800 still be a strong support ?
One can always hope
Furthermore yesterday 24, GU went down stronger than EU so the bears need some rest.
  • #322,713
  • Aug 25, 2012 12:56am Aug 25, 2012 12:56am
Quoting bguguen
okay this is for my fellas here...
im fucking tipsy....

1. had a boat trip today and that whole 8 hours made me really tipsy even im on land...
2. i went clubbing with friends straight after the boat ride...

but yea im still sober as the judge...

to be honest with you guys, ive warned a lot of people that the whole risk on hype was someone premature....
i probably shouldn't sound like i know much but.....
the weird thing was Equities were flat or going down all week long and yet risk pairs were flying up, just because rumors of QE3...
Who you callin' "Prick" man overboard?
Come with me if you want to live....
  • #322,714
  • Aug 25, 2012 1:03am Aug 25, 2012 1:03am
Quoting Ill-b-back
TT, are you a 100 percent mechanical trader?
Good day to you,

Sorry - missed your post. Went out to a friend's house last night and did not check the forum again.

Yes - you could say that. But I do not get pinpoint entries. Rather areas of possible directional opportunity. Then look at historical opens, closes, highs, lows etc.

Regards
  • #322,715
  • Aug 25, 2012 1:21am Aug 25, 2012 1:21am
Quoting TauTrader
Good day to you,

Sorry - missed your post. Went out to a friend's house last night and did not check the forum again.

Yes - you could say that. But I do not get pinpoint entries. Rather areas of possible directional opportunity. Then look at historical opens, closes, highs, lows etc.

Regards
Right, ok thanks TT.
I know PT is and I get curious about others as well from the nature of their posts.
I am aiming to be mechanical on daily charts and just seeing if I am in good company.
Come with me if you want to live....
  • #322,716
  • Aug 25, 2012 2:10am Aug 25, 2012 2:10am
Quoting Ill-b-back
Right, ok thanks TT.
I know PT is and I get curious about others as well from the nature of their posts.
I am aiming to be mechanical on daily charts and just seeing if I am in good company.
Sir -I can only improve....Then I do suggest that you also look into Renko charts. Run one alongside your normal chart and compare for a while. I am liking these more and more. They do cut out a lot of "noise".

Here is a basic example if one would apply the same indicator on a normal 4hr chart, vs a 20 pip Renko.

See the difference?
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Click to Enlarge Name: renko.jpg Size: 76 KB
  • #322,717
  • Aug 25, 2012 2:26am Aug 25, 2012 2:26am
Quoting Faller
It is a currency war.....each country is taking it's turn at having a devalued currency.....slowly slowly currencies are coming to be at par with the USD - once all currencies are at par....hmmmmm then what? One world currency? Now this is a stretch........but this is definitely a currency war. No country wants a strong currency.

Also there is more and more talk of bringing back the Gold Standard - all very interesting.


Good weekend to all....

Faller.
The gold standard bit is very interesting. Moving away from this in the first place makes you realise that money is worth jack shit or it isn't real in the first place.

And in terms of devaluing currency, all we think of in the UK is how much do we get when we exchange to go on holidays so most Brits are proud of having a strong pound. Totally at odds with what politicians want.
  • #322,718
  • Aug 25, 2012 3:50am Aug 25, 2012 3:50am
Quoting inpatient
if PT was closed out at 1.59 then that would be sad news.

Especially since the shorts he was looking for will likely come good now.

ironic

not really..me made a lot of money and i guess, if trading stops him from starting news things..then aye..who am i to gudge?

i wish my buddy good luck..he know what it takes to be a winner so not worried about him..

a few years back he blew 50k on cable, one trade..might give some an idea of jut how big his account was..he should have just give meh the money!!

cheers to him
Attached Image
  • #322,719
  • Aug 25, 2012 3:51am Aug 25, 2012 3:51am
Dude, you just SHORTED a clean breakout,
Why, WHY do you think besides a simple retracement buying DOLLARS is a good idea. Look at USD/CHF lately. My favorite barometer for the bucks price .
????

Take a look at GOLD.

Quoting Davit
PA most likely will retrace to 5780 level before any move up.Fridays usually are either sell off if coming from buy week or opposite.
It has been all bull all week and there is noticeable exhaustion.
I have 5 shorts all TP at 5800
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #322,720
  • Aug 25, 2012 3:56am Aug 25, 2012 3:56am
DID you see Gold's PA for the week!! We took a MAJOR resistance at 1635 then blasted all the way from before that 1610 area to 1676.

6000 pips or about 66 USD!

Each country DOES take turns.


Quoting Faller
It is a currency war.....each country is taking it's turn at having a devalued currency.....slowly slowly currencies are coming to be at par with the USD - once all currencies are at par....hmmmmm then what? One world currency? Now this is a stretch........but this is definitely a currency war. No country wants a strong currency.

Also there is more and more talk of bringing back the Gold Standard - all very interesting.


Good weekend to all....

Faller.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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