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Cable Update (GBPUSD)

  • #377,801
  • May 15, 2014 8:49am May 15, 2014 8:49am
Quoting Standov
{quote} {image} I need the GBP to be down against the AUD - wasting my future holiday funds this night should have realised the news was priced in, that is why it was short term oversold - 50p reduced to SL 3.2p. Maybe if you tell me the *bad* news in a *good* way, it wouldn't sound so bad.
I'll try. The bad news is you were wrong and there isn't a single soul here who hasn't been...many times. The good news? You CAN make it back! ...
Ghost Rider - WWTBMD?
  • #377,802
  • May 15, 2014 8:51am May 15, 2014 8:51am
Off Topic

Any Index traders?

$SPX

Present wait for the break of 1870
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  • #377,803
  • May 15, 2014 8:56am May 15, 2014 8:56am
Quoting albchr
{quote} I'll try. The bad news is you were wrong and there isn't a single soul here who hasn't been...many times. The good news? You CAN make it back! ...
Thanks albchr.
not so much my trading, but the AUD jumped off the cliff at the same time as GBP found wings, so my holiday funds just shrunk by 100p.
I'll go kick stones now
Second star to the right, and straight on 'til morning
  • #377,804
  • May 15, 2014 8:56am May 15, 2014 8:56am
Off topic but how I wish I had UJ on my radar earlier. Testing testing... Break down?
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Ghost Rider - WWTBMD?
  • #377,805
  • May 15, 2014 8:57am May 15, 2014 8:57am
Quoting JimmyC
Off Topic Any Index traders? $SPX Present wait for the break of 1870 {image}
Wish I could.
Ghost Rider - WWTBMD?
  • #377,806
  • May 15, 2014 8:57am May 15, 2014 8:57am
Quoting Darkforce
{quote} Channel bottom still holds plus we tested 1.6742. The reaction to the US news also suggest that the selling at the beginning of the week is drying up. We are going back up. {image}

Too Much data in a same day make it confused.. where the pair will go.. no idea..lol
  • #377,807
  • May 15, 2014 8:58am May 15, 2014 8:58am
Quoting Standov
{quote} {image} I need the GBP to be down against the AUD - wasting my future holiday funds this night should have realised the news was priced in, that is why it was short term oversold - 50p reduced to SL 3.2p. Maybe if you tell me the *bad* news in a *good* way, it wouldn't sound so bad.
I'm feeling this pair will retest 8150 or at least 8050 if it's more bearish.

I'm short in at 7850 for this pair. Will see.
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  • #377,808
  • May 15, 2014 9:00am May 15, 2014 9:00am
Quoting Standov
{quote} Thanks albchr. not so much my trading, but the AUD jumped off the cliff at the same time as GBP found wings, so my holiday funds just shrunk by 100p. I'll go kick stones now
LOL... be sure to wear boots

I see your all time there. Very nice. Funny, I'm trying to make just about that much back

I have about half it back the past two weeks. Fingers crossed for some real movement and eyes sharp for me.
Ghost Rider - WWTBMD?
  • #377,809
  • May 15, 2014 9:02am May 15, 2014 9:02am
Quoting squawk
{quote} I'm feeling this pair will retest 8150 or at least 8050 if it's more bearish. I'm short in at 7850 for this pair. Will see. {image}
I think it might hold up at 6820 61.8fib retrace and recent resistance or 6800 at the 50fib
Second star to the right, and straight on 'til morning
  • #377,810
  • May 15, 2014 9:06am May 15, 2014 9:06am
Quoting albchr
{quote} LOL... be sure to wear boots I see your all time there. Very nice. Funny, I'm trying to make just about that much back I have about half it back the past two weeks. Fingers crossed for some real movement and eyes sharp for me.
been slow going, but recently been reading wyckoff book from 1934. Hard going since he talks about reading the tape and how to draw paper charts, but he has some nice ideas on candles
Second star to the right, and straight on 'til morning
  • #377,811
  • May 15, 2014 9:09am May 15, 2014 9:09am
Quoting Standov
{quote} been slow going, but recently been reading wyckoff book from 1934. Hard going since he talks about reading the tape and how to draw paper charts, but he has some nice ideas on candles
thats awesome reading! especially about ranges!
big numbers are our friends...
  • #377,812
  • May 15, 2014 9:12am May 15, 2014 9:12am
Quoting deeZG
{quote} thats awesome reading! especially about ranges!
so far I am only starting section 6 and only just getting past his speeches
Second star to the right, and straight on 'til morning
  • #377,813
  • May 15, 2014 9:18am May 15, 2014 9:18am
Quoting Standov
{quote} been slow going, but recently been reading wyckoff book from 1934. Hard going since he talks about reading the tape and how to draw paper charts, but he has some nice ideas on candles
I've never read a book on trading. ... he bows his head in shame.
Ghost Rider - WWTBMD?
  • #377,814
  • May 15, 2014 9:30am May 15, 2014 9:30am
Quoting JimmyC
Off Topic Any Index traders? $SPX Present wait for the break of 1870 {image}
The main three that I watch have been toppy for some time. I also take the view that if an index starts to drop, its valuation currency tends to rise – money out of commodities and into cash. My problem with such an approach is that the indices have all been on a march for some time now… thanks CBs for screwing up previous harmonies.

Anyway, if I was to call on any index to drop most predictably, it would be the FTSE (The current oscillation on the daily is something of a gift to those that can trade it - and maybe this is the beginning of the sell in May and walk away maxim). With this said, I hold the view that Sterling is going to be the ‘darling’ to appreciate in the coming weeks if the FTSE adheres to current predictability – with the European elections, and their subsequent fallouts I think, keeping money away from the Euro until the dust from the new jackboots settles.

As for the Dollar, it is being hit by, amongst other factors, a move away from the PetroDollar; with settlement currencies other than the Dollar - for debt payments - being used by certain BRIC members. There is also the small matter of Russia and China dumping their Dollar debts onto anyone that will take them. Granted, the Rubble is somewhat of a wreck at the moment, but it is backed by an energy market that the world desperately needs, and is controlled by a pretty smart cookie in the Kremlin.

As for Beijing, well, those boys play their cards very close to their chests...

FTSE Daily
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S&P Daily
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Dow Daily
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Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #377,815
  • May 15, 2014 9:30am May 15, 2014 9:30am
Pretty close to where the rubber meets the road for me. Decision time soon me thinks.
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Ghost Rider - WWTBMD?
  • #377,816
  • May 15, 2014 9:36am May 15, 2014 9:36am
Quoting albchr
Pretty close to where the rubber meets the road for me. Decision time soon me thinks. {image}
still too much volume for reversal
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off to bed for me
Second star to the right, and straight on 'til morning
  • #377,817
  • May 15, 2014 9:42am May 15, 2014 9:42am
Quoting Standov
{quote} so far I am only starting section 6 and only just getting past his speeches

Returned to Kant at the beginning of the year - yes, I like my philosophy, even if the logic of Wittgenstein killed the debate - and once more I am enduring the pain of trying to understand what he was trying to say in his Critique of Pure Reason.

Ain't philosophy great; as it keeps itself alive through its ability to allow the rest of us to argue over its meaning.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #377,818
  • May 15, 2014 9:50am May 15, 2014 9:50am
Quoting 45Condor
{quote} The main three that I watch have been toppy for some time. I also take the view that if an index starts to drop, its valuation currency tends to rise – money out of commodities and into cash. My problem with such an approach is that the indices have all been on a march for some time now… thanks CBs for screwing up previous harmonies. Anyway, if I was to call on any index to drop most predictably, it would be the FTSE (The current oscillation on the daily is something of a gift to those that can trade it - and maybe this is the beginning...
We agree 100%, I noticed the nonsense this morning and was playing with getting long before 1.67, I am now long cable short JSE; FTSE S&P. I note he FTSE and Cable have stopped for tea now but this is I suspect the next swing all round
  • #377,819
  • May 15, 2014 10:07am May 15, 2014 10:07am
Right after a little trading drought

Volatility restored and bad news for the bears

DX Daily...

Time to relax
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  • #377,820
  • May 15, 2014 10:14am May 15, 2014 10:14am
Quoting JimmyC
{quote} We agree 100%, I noticed the nonsense this morning and was playing with getting long before 1.67, I am now long cable short JSE; FTSE S&P. I note he FTSE and Cable have stopped for tea now but this is I suspect the next swing all round
I'm not sure what is left in Cable's tank for today, but tomorrow may be a little bit of a whipping event with Yellen giving us all a yellin', before the afternoon news from the US.

Of course, with it being a Friday, I'll be in the saddle, and so not trading the end of week frustration fest. Made my pip quota for the week, and so will relax.

I will be interested to see where PA finishes tomorrow evening... what, with no news for Cable or the Dollar until next Tuesday (for Cable), Wednesday for the Dollar.
Author of: For Pip's Sake! (Available at Amazon... :-) )
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