Cable Update (GBPUSD)

I got a brain of metal, but know next to nothing baout them lol. Never traded anything except currencies

Allserene,

Yep Million and Billionaires likely spend more time worrying about money than we poor people do and trying to make more cause there never quite rich enough.


They should swap with 1 of us for a year

Well yesterday cable hit the first target and move back to the unknown limit which make in total pips as the following:
Entry at 1.9650 to 1.9629 = +21 pips
Entry at 1.9620 to 1.9690 = +70 pips
Total +91 pips

This thing feels like it's getting ready to crash back to 1.94 again. If it breaks below the 1.9615 low that will be a 1-2-3 top reversal on the 4 hour charts, then I'm in short!

Well I'm not in anything at the moment. That sharp drop surprised me today, didn't expect it to go down more than 40pip (which was my TP).

See what tommorrow brings. As of right now, both AC and AO are red on the Hourly.

Not as of this moment Betard if you would notice the latest dip which managed to find support at 1.9613 [near 1.9624, 23.6% retracement of 2.0566 (high dec 12 '07) - 1.9334 (low Jan 22)] yesterday is above 1.9607 (last fri low) which confirms a higher low and projects gains towards 1.9785-1.9821 (04 Feb high/31 Jan low)!

Just an info and not a reco! Let's see how it goes......

Sitting right on my 24hour SMA here, talk about directionless.

Slightly better odds on a breakdown, support also @1.9660.

USDJPY is your best bet ( of the 3 I watch ), long near 12hours sma ( 15min chart 48SMA ) skipped off twice today already, stop under!!

beware of gu downside.

i am short this pair, but this week is likely eu going for 1.50 and above.
that could cause massive dollar selloffs as opens the door for many traders around the world adjusting positions. many banks could start dumping the greenback in mass.
just think 1.50 and above like we gone from 1.3999 for above. where many countries and institutions started to diversify.
finally bringing us to these prices.

is known there are big boys positions awaiting to be executed. if usd index breaks support.

only thing that could save us from that scenario would be usa data surprises this week. and europe bad data.
or an USD minicrash could be seen real soon..... term of weeks.

bellieve me, Trichet is really happy with euro value. his dreams of putting euro as choice in world finances. and usa is also happy with usd value as is making its products more attractive abroad.

and of course gu, if the eu 1.50 scenario is given, 2.000 could be easily reached.

(the best thing is we can wait till tomorrow morning to know how is gbp data and take decitions).
personally if gbp data is good. ill exit my shorts even when could be a long term trade. if its bad keep it. but be aware later usd data could bring gu back. be careful....

shiva. Now can you also make E/U go up at the same time? I am short G/U and Long E/U . lol

Cable extended upleg from 1.9361 (Feb 20 low), followed by a dip to 1.9613 yesterday. Current prices are consolidating closely to rising 60-hour MA now at 1.9652, where a crack beneath which could trigger deeper pullback. Until a break of 1.9736 (Feb 14 high) happens, 50-day MA now at 1.9712 and 14-day RSI negative reversal projection of 1.9440-60 (30 min gap) carry higher weighting.

a breakout is comming witch way i don't know, i got my buy stop and sell stop orders in, eather way im in for a least 200 pips down or up, good luck to all.

GBPUSD and EURUSD moved to sell side ( Just ) for my system / weird logic, so odds are down.

Lets hope for some good ranged chop ( my prefered ), or strong trend moves tommorow hey

GBP strong resistance 1.9710 Long on break over, short on weakness near, sup @1.9620
EUR similar setup 1.4860, Sup 1.4795
USDJPY STRONG resistance @108.30

* p.s. Hi all hope you don't mind if i think out loud here, trading tip reverse what I do *

I say pound is looking bearish, should go down at least 100 pips. We wont know till it happens.....

Abit late then though, the old saying " Got to be in it to win it " and also " can't win them all " so let good MM over all turn your best guesses into over all profitable trading.

Haven't got above anywhere near cracked yet, but it sounds good in theory Except with demo account then mastered!!




Nite all!!

Hey Moe M still holding my long pos @ 1.9680 but I think I need to revised my target to 1.9730 (6 pips below Feb 14 high lies @ 1.9736) and my stop loss raise to 1.9638 (1 pip below Feb 21 high lies @ 1.9639). Let's see how it goes........


PS: Just an info and not a reco!

Hmmmm you're asking for a lot Max, but lemme see whats the max I can do

If Pound is not doing good for you, try others.

Why stay with one pair?

wow, a lot of crying because GU doesn't have a clear direcction.

Diversified, don't stop because GU is not working.

Well another reason why I'm a pattern trader.

Good luck to all.

IMHO, i've switched to looking for a long entry now, will be watching 1.9647 to be precise, or near there, at around European open.
I've got a good convergence of trend line, short term short fib
extension completing at a good fib retracement and S/R of the previous days range, failure of all this will see me switching my attention to short again, but, as i stated i think it's long...

im putting my money short .. entry @1.9655.. hoping to grab 40+ pips on euro session..

Still thinking and staying short. 780 would need to be broken to change my mind. I am short from 700, 695 and 682. with a stop at 780 and a TP at 560 about a 2:1 ratio this is a good trade.