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Cable Update (GBPUSD)

  • #323,321
  • Sep 3, 2012 11:28am Sep 3, 2012 11:28am
Quoting Makavelli7
Still holding on to them freaking longs from 1.5653. D shit's gonna hit the fan immediately 1.5750 snaps! target 1.5900
Still in this fucking trade! we should see 1.5950 soon
The only way not to think about money is to have a great deal of it
  • #323,322
  • Sep 3, 2012 11:30am Sep 3, 2012 11:30am
Quoting inpatient
For me Nav it is simply the fact that we are at a near 4 month high right now and i dont see any fundamental reason to suggest that the UK economy v the US is any better position than it was over the last 4 months. Certainly not almost 600 pips.

I think the US NFP is going to be crucial but im currently short, no real changes overall

Im not however expecting much action beneath 1.58 and have my T/P set here. I agree we have been in a bullish trend now for 3 months which seems to have accelerated over the last month. I just think from a purely...

The thing that really bucked the trend was Draghi claiming to do whatever is necessary to save the Euro and telling everyone it is irreversible. He of course says that since it is his job. Irreversible or everyone will have to resign (which is happening), that pressure is not over and the trend up can be viewed as somewhat fragile in the Euro. Cable being so affected by the Euro PA has been somewhat dragged along and will no doubt continue to be.

Its for sure an interesting time, i remember only a short time ago the calls for 1.50 is coming etc etc. I agree alot of this is due to euro probs dragging down the pound but it is what it is and surely to hope for a retrace to 1.58 is likely before any further news takes effect on what is seemingly a very unsure market.
Money never sleeps...
  • #323,323
  • Sep 3, 2012 11:34am Sep 3, 2012 11:34am
Quoting Makavelli7
Still in this fucking trade! we should see 1.5950 soon

Hey bro, good to see you.

For me if i was holding that (and this is just my opinion) i would either close now @ 1.5895 or increase the TP as i feel that if this does pop 1.592 then we will see this trend continue much higher than 1.595.

just my 2 cents bro
Money never sleeps...
  • #323,324
  • Sep 3, 2012 11:40am Sep 3, 2012 11:40am
Quoting Davit
Wow this is just super!
Added another short 5894
4x short 5823
2xshort 5867

Long on USD/Cad 2x9850 this one already in profit.

This is my ceiling.Have to wait and weather the storm.

There is a serious correlation imbalance Cable should really be at 56. I am confident on these sets of trades.
would you be right or in profit ?

your head tells us there is no logic in EU and GBP being strong so you open shorts.

but the market does not use logic and goes long.

so....you like money or you like to be right and proud ?



this is why I said it is better to sideline till the end of the world (aka 12th sept)
  • #323,325
  • Sep 3, 2012 11:42am Sep 3, 2012 11:42am
Quoting redbeben
this is why I said it is better to sideline till the end of the world (aka 12th sept)

what we need is some inside info on that court ruling, im gonna make some calls
Money never sleeps...
  • #323,326
  • Sep 3, 2012 11:52am Sep 3, 2012 11:52am
Quoting inpatient
what we need is some inside info on that court ruling, im gonna make some calls
I think the court will mean sh**

market will be long priced before the move either up or down.I think the court will rule it as constitutional and approve but there are no money to cover anything anyway.

it's just kicking the can.

and I bet there is another thing on the way that will turn our heads so we will forget about all

I mean we all know and see how UK is done and EZ with Italy and Spain and Greece...but somehow one man can change the feelings and push EUR higher.

will it mean anything ? yes it will,it will trigger more austerity cuts meaning more looses to the govts as in less taxes and less exports.....so no economic growth.

why does EU grow ? beats me.it grows as big traders push it for profit only.no matter what you think or do.


so...sideline before the 12th and after or if just small lots for fun

I saw good traders,really good ones on this thread still stuck in trades.some long some short....not good I tell you,one side will get a** raped..if not both on a wipsaw effect

maybe ignorance is bliss so we should go with the rumours like the rest of the herd
  • #323,327
  • Sep 3, 2012 11:54am Sep 3, 2012 11:54am
Quoting Davit
Cable basically flying on Euro wings.Recent bogus up moves on Euro has not seen any serious retrace since 24 and pressure is building for that to happen and we will see Cable diving down as well.
The key is Euro 2600 major resistance and already looks like it failed to break.
That is my reasoning but as you know its forex anything can happen.
I am confident on retrace.Most moves retrace 50% before resuming.

first of we are in a range..so fundamental point of view nothing has changed, cable is a currency which is almost like a safe haven currency..when gold and oil, euro or aud is doing good cable just spark..

we are going a lot higher guys..is what i think

i dont watch news i just play what the charts tell me..can i be wrong, ofcourse..!!

be lucky guys
  • #323,328
  • Sep 3, 2012 11:55am Sep 3, 2012 11:55am
if I was biased now I would be short term short like now @ 1.5890

SL @ 1.5930 and TP1 1.583X
TP2 @ 1.5797-99 and TP3 @ 1.5761-65

I'll take my chance here
  • #323,329
  • Sep 3, 2012 11:56am Sep 3, 2012 11:56am
Quoting redbeben
would you be right or in profit ?

your head tells us there is no logic in EU and GBP being strong so you open shorts.

but the market does not use logic and goes long.

so....you like money or you like to be right and proud ?



this is why I said it is better to sideline till the end of the world (aka 12th sept)
I made mistakes and will continue to do so.Nobody is right or wrong.Its a question of probability.
Probability of PA going to 5800 is greater then going 59 and higher in near future.
Key here is near future like this week by Friday.
In trading, you have to be defensive and aggressive at the same time
  • #323,330
  • Sep 3, 2012 12:00pm Sep 3, 2012 12:00pm
Quoting Davit
I made mistakes and will continue to do so.Nobody is right or wrong.Its a question of probability.
Probability of PA going to 5800 is greater then going 59 and higher in near future.
Key here is near future like this week by Friday.
not pointing fingers as I am short biased for now as well.just asking a question why?

thanks for the reply


we will see.I just don't like the farts on the news very 5 min and market choppy up down in a 10-20 pips range
  • #323,331
  • Sep 3, 2012 12:34pm Sep 3, 2012 12:34pm
Quoting redbeben
not pointing fingers as I am short biased for now as well.just asking a question why?

thanks for the reply


we will see.I just don't like the farts on the news very 5 min and market choppy up down in a 10-20 pips range
Just a correction to 5800 or 5780 before resuming UP trend if it resumes at all.
In trading, you have to be defensive and aggressive at the same time
  • #323,332
  • Sep 3, 2012 12:35pm Sep 3, 2012 12:35pm
And I'm waiting for that 1.59 breakage to fly to 1.60

This is why FX is so great, everyone has their opinions,,, someone is always right and someone always wrong.

Unfortunately mine is like a marriage and I'm always wrong!

Quoting redbeben
if I was biased now I would be short term short like now @ 1.5890

SL @ 1.5930 and TP1 1.583X
TP2 @ 1.5797-99 and TP3 @ 1.5761-65

I'll take my chance here
  • #323,333
  • Sep 3, 2012 12:40pm Sep 3, 2012 12:40pm
Quoting demontaz
And I'm waiting for that 1.59 breakage to fly to 1.60

This is why FX is so great, everyone has their opinions,,, someone is always right and someone always wrong.

Unfortunately mine is like a marriage and I'm always wrong!
For Cable to reach 1.60 Euro must reach 1.27 and I don't see that happening in near future.
I think in probabilities.
In trading, you have to be defensive and aggressive at the same time
  • #323,334
  • Sep 3, 2012 1:13pm Sep 3, 2012 1:13pm
Quoting Davit
For Cable to reach 1.60 Euro must reach 1.27 and I don't see that happening in near future.
I think in probabilities.

euro will hit 1.3..by 2 months time maybe in 4 weeks time..completely supported by technicals
  • #323,335
  • Sep 3, 2012 1:18pm Sep 3, 2012 1:18pm
Quoting nAVIN2007
euro will hit 1.3..by 2 months time maybe in 4 weeks time..completely supported by technicals
totally agree with you, it will bounce and will come back to 1.32
Loosening is not an option
  • #323,336
  • Sep 3, 2012 2:16pm Sep 3, 2012 2:16pm
Has anyone even looked at the Daily? Has anyone even seen this 61.8% Fibo hit?
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 26 KB
Please do not vouch for me.
  • #323,337
  • Edited 3:13pm Sep 3, 2012 2:40pm | Edited 3:13pm
I can not go long against everything I have been taught. How can you go long here against a 61.8 % fib test and a Bearish Rising Wedge. It may go long but my money is short here. The good thing is you can get this short at a bargain with a small stop loss of about 100 pips at 1.6020. Downside potential is at least 3 bills.




Quoting spillini
Has anyone even looked at the Daily? Has anyone even seen this 61.8% Fibo hit?
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.gif Size: 28 KB
Please do not vouch for me.
  • #323,338
  • Sep 3, 2012 2:51pm Sep 3, 2012 2:51pm
Quoting inpatient
Bloomberg reporting that Bernanke promised action? Must have been reading something different to me.

Good old Bloomberg optimism, just love it.
I know, some of their reporting is really weird, often the opposite of what actually happened.

Think they do their research down the pub?
  • #323,339
  • Sep 3, 2012 3:14pm Sep 3, 2012 3:14pm
Quoting nAVIN2007
euro will hit 1.3..by 2 months time maybe in 4 weeks time..completely supported by technicals
1.2714-64 possible soon maybe by thrsday or thursday and this if we brake 1.2655

bad thing is that Draghi keeps hiding lately...dunno why.he cancelled all his meetings....scared of saying NO ?

I'll send a chart with some longs I took some months ago on EU....my top was 1.27 back then.now I have no clue as long term charts tell me sh**

GU...61.8% might be good to short or might be nailed......I'm on a short ride now and will try a 1.5744-50 now as picture is clearer.

anyway,I have to stress about tight SL and small lots for the time being or no trading at all.

everyone can toss a coin but it is not responsable trading....just a humble advice from one that saw a lot
  • #323,340
  • Sep 3, 2012 3:34pm Sep 3, 2012 3:34pm
Quoting spillini
I can not go long against everything I have been taught. How can you go long here against a 61.8 % fib test and a Bearish Rising Wedge. It may go long but my money is short here. The good thing is you can get this short at a bargain with a small stop loss of about 100 pips at 1.6020. Downside potential is at least 3 bills.

i hear you bro, still lots of disagreement in here about this still and as always it is gonna be interesting.
Money never sleeps...
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