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Cable Update (GBPUSD)

  • #337,401
  • Mar 20, 2013 7:12pm Mar 20, 2013 7:12pm
Quoting Maso
The cable is a very poor pair. The UK budget is pushing the pair toward downtrend. The $ is so strong. The Euro is risky. ....

Then, I just make short positions when I see the cable at a mountain .
Cable is already at mountain,

down from here,
Money never sleeps...
  • #337,402
  • Mar 20, 2013 7:13pm Mar 20, 2013 7:13pm
Quoting airafx
Welcome to the jungle
Hope 1.53 this week

keep hoping, its not going to happen. To get there it would have needed the news today to push it at least into the 1.52 area.

Next week is a resumption of down trend, even sooner if certain weekly options are pulled early which is likely
Money never sleeps...
  • #337,403
  • Mar 20, 2013 7:25pm Mar 20, 2013 7:25pm
Quoting inpatient
Here is where i am.

Overnight (i am Pacific time USA) during Asian trade we will see some ranging but unlikley to get lower than 1.5070 or higher than 1.512.

Tomorrow before the UK retail sales numbers we will see activity pushing us outside that range and likely to the downside.

If retail sales are bad (below .5 which is likely) we will touch 1.50.

If US news tomorrow is good (which is likely) we will see a slide to the end of the week down to the lower 1.49's

Next week we will test the lows in the 1.48's and more than likely see a new...

Not that i am trading this short, i am simply looking for an entry to go long from as low as possible.
Money never sleeps...
  • #337,404
  • Mar 20, 2013 10:08pm Mar 20, 2013 10:08pm
Downtrend was completed. My suggestion to buy when it reverse. Still holding 250pips +ve
  • #337,405
  • Mar 21, 2013 12:24am Mar 21, 2013 12:24am
i think there is yet a third possibility aside from jumping a 1000 pips in either direction. imo it can use 3 or 4 horizontal channels on D1 and W1 to move east for a while. at the moment the usd momentum is slowing down a bit and congesting from what i see from the usd index and many think the gbp is undervalued but at the same time there are no fundamentals to support a good move to the north. so to cut it short, ranging may be the name of the game.

note.. this is another possibility! no fancy predictions...
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #337,406
  • Edited 1:36am Mar 21, 2013 12:49am | Edited 1:36am
Quoting Jack_Island
Downtrend was completed. My suggestion to buy when it reverse. Still holding 250pips +ve

I dont think we can say the downtrend is over
  • #337,407
  • Mar 21, 2013 12:52am Mar 21, 2013 12:52am
from a S/R point of view, a target to the up side may be between 5250 to 5350. to the south, 5040 to 5000 then 4915 to 4850. i tend to look at it from a "one step at a time " point of view..

again no predictions or leaks here just obvious levels..
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #337,408
  • Mar 21, 2013 1:08am Mar 21, 2013 1:08am
Quoting baherhosni
from a S/R point of view, a target to the up side may be between 5250 to 5350. to the south, 5040 to 5000 then 4915 to 4850. i tend to look at it from a "one step at a time " point of view..

again no predictions or leaks here just obvious levels..
i agree with you.
  • #337,409
  • Mar 21, 2013 3:45am Mar 21, 2013 3:45am
After a good day yesterday +107 pips and a good start to today + 27 pips, very keen not to give any back. My bias is to the short side in anticipation of poor retail sales news and looking to the low 1.50s however I shall not be entering a short until we get up around 1.517 and start building them from there. If retail sales news good, then will reevaluate as could go as high as 1.5250 today, but news would have to be exceptionally positive from the UK supported by weak US news.
  • #337,410
  • Mar 21, 2013 3:49am Mar 21, 2013 3:49am
Quoting Thfc
After a good day yesterday +107 pips and a good start to today + 27 pips, very keen not to give any back. My bias is to the short side in anticipation of poor retail sales news and looking to the low 1.50s however I shall not be entering a short until we get up around 1.517 and start building them from there. If retail sales news good, then will reevaluate as could go as high as 1.5250 today, but news would have to be exceptionally positive from the UK supported by weak US news.

I wonder wheather retail sales will be better than expected as jan is usually a long month after christmas before getting paid for most people.

February and march things start getting back to normal
  • #337,411
  • Mar 21, 2013 4:10am Mar 21, 2013 4:10am
Quoting brinks
I wonder wheather retail sales will be better than expected as jan is usually a long month after christmas before getting paid for most people.

February and march things start getting back to normal
We had a few big name high street stores go into administration over the past few months. Retail is one of those ones that always surprises me when the figures come out.
  • #337,412
  • Mar 21, 2013 4:12am Mar 21, 2013 4:12am
Quoting blobsaudio
We had a few big name high street stores go into administration over the past few months. Retail is one of those ones that always surprises me when the figures come out.
yes its not one that you can try and guess
  • #337,413
  • Mar 21, 2013 4:31am Mar 21, 2013 4:31am
Why am I struggling to believe the 2.1% figure .

Retail chains going into administration, wage increases below inflation for a number of years and retail sales are somehow up by 2.1%?
  • #337,414
  • Mar 21, 2013 4:33am Mar 21, 2013 4:33am
Closed my long scalps, probably 50 - 60 pips in total. Now looking short to 1.50x. Possibly even lower.
A 1 pip gain is better than a 1 pip loss.
  • #337,415
  • Mar 21, 2013 4:35am Mar 21, 2013 4:35am
Quoting aeternum
Closed my long scalps, probably 50 - 60 pips in total. Now looking short to 1.50x. Possibly even lower.
Be careful at this zone 1.5185, if price breaks it comfortably it should go to the 1.53 area.
  • #337,416
  • Mar 21, 2013 4:41am Mar 21, 2013 4:41am
wow retail sales,

must be a mistake
Money never sleeps...
  • #337,417
  • Mar 21, 2013 4:42am Mar 21, 2013 4:42am
Quoting inpatient
wow retail sales,

must be a mistake
Hahahaha yes they were a big miss to the upside
  • #337,418
  • Mar 21, 2013 4:43am Mar 21, 2013 4:43am
Quoting inpatient
wow retail sales,

must be a mistake
Any bets on it being revised down next month?
  • #337,419
  • Mar 21, 2013 4:47am Mar 21, 2013 4:47am
rejected when touch 1.52
  • #337,420
  • Mar 21, 2013 4:48am Mar 21, 2013 4:48am
Quoting blobsaudio
Why am I struggling to believe the 2.1% figure .

Retail chains going into administration, wage increases below inflation for a number of years and retail sales are somehow up by 2.1%?

agreed
Money never sleeps...
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