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Cable Update (GBPUSD)

  • #60,101
  • Apr 1, 2008 6:51am Apr 1, 2008 6:51am
Quoting Turveyd
Why is EU doing so badly, hmmmmmmm confused.

1st day of the month big boy positioning no doubt!!
Germany had weak retail sales. I'm not sure why GBP is so strong today but I presume it bounced off it's existing 9740 support line. I was personally looking for a quick check to 9700. Anyway, it's truly broke it's bearish channel. I'm hoping for a significant bounce after 3pm and hopefully that will lead to a bullish channel to the 2.0 + area by friday.

After friday it should be safe enough for me to "short back in" ( as long as it's above 2.0).
  • #60,102
  • Apr 1, 2008 6:52am Apr 1, 2008 6:52am
Nav good call, nice bounce there.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,103
  • Apr 1, 2008 6:55am Apr 1, 2008 6:55am
Quoting abuzant
I just dont believe this down wave is over.. and at the same time cant explain this crazy climb..

TaDa guys, seems i am going to get stoppedOut today 'again' :<
This is the interesting part of GBP if you are on the right side.
Move your stop loss to above 2.0005 1f you are on sell and you have
money to support that.

the biggest hurdle that will not make it to get to 2.0005 in the next
24 hrs is at at 1.9945, if it breaks there, it is likely going to touch
2.0005
  • #60,104
  • Apr 1, 2008 7:08am Apr 1, 2008 7:08am
There should also be a nice GBP sell-off tomorrow before the housing and credit data gets released. The markets should be expecting a "below estimate" opposed to "above estimate" which will be beneficial to the USD.
  • #60,105
  • Apr 1, 2008 7:41am Apr 1, 2008 7:41am
Failing to come up with a plan here

The ones i've seen, I worry about there losing potential too much.


30mins off then find 1.

anyone got a plan I can pinch
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,106
  • Apr 1, 2008 7:47am Apr 1, 2008 7:47am
Quoting Turveyd
Failing to come up with a plan here

The ones i've seen, I worry about there losing potential too much.


30mins off then find 1.

anyone got a plan I can pinch
Here is a nice plan - long on EUR/GBP at 0.7888. This pair has corrected and hit the new support - the top of the previous consolidation.
"Luxury is one of the basic needs", (c), Don Corleone
  • #60,107
  • Apr 1, 2008 7:54am Apr 1, 2008 7:54am
Strong recovery up off 9735/40 area support, cable now finding resistance at he daily pivot/former 1hr swing area 9875-80, some regular bearish divergence noted there to 5min chart.
Attached Images
ex member
  • #60,108
  • Apr 1, 2008 7:54am Apr 1, 2008 7:54am
Quoting Turveyd
Failing to come up with a plan here

The ones i've seen, I worry about there losing potential too much.


30mins off then find 1.

anyone got a plan I can pinch
Read here it is the most viable option now.
Quoting nAVIN2007
looks like i might be buying on this dip ...the market really is getting confusing these days..
The day is bullish and started well at the lower end of the last cycle, today is also the start of a new monthly cycle. The question is where is this
dip.........what time frame
  • #60,109
  • Apr 1, 2008 7:55am Apr 1, 2008 7:55am
the previous swings at 9735-40 were there to the Daily chart, 1hr chart is shown below.
Attached Image
ex member
  • #60,110
  • Apr 1, 2008 8:07am Apr 1, 2008 8:07am
Okay enough of a pull back shame I missed ( no make that WUSSED ) shorting the top, looking for strength to get a long on, no strength no long though.

9795 need to hold to, if it doesn't odds are retesting lows of the day!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,111
  • Apr 1, 2008 8:11am Apr 1, 2008 8:11am
Quoting Turveyd
Okay enough of a pull back shame I missed ( no make that WUSSED ) shorting the top, looking for strength to get a long on, no strength no long though.

9795 need to hold to, if it doesn't odds are retesting lows of the day!!
im out unless this mother starts to trend.....
  • #60,112
  • Apr 1, 2008 8:13am Apr 1, 2008 8:13am
Broken 4hr ascending support trend line tested from underside, at that daily pivot, former 1hr swings area 9875-80, now acting as resistance.
Attached Image (click to enlarge)
Click to Enlarge Name: 4.gif Size: 17 KB
ex member
  • #60,113
  • Apr 1, 2008 8:18am Apr 1, 2008 8:18am
Long 9802 !!! SL 9789!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,114
  • Apr 1, 2008 8:23am Apr 1, 2008 8:23am
Quoting Turveyd
Long 9802 !!! SL 9789!!
bro thats a very tight set loss

plus we have A VERY IMPORTANT US NUMBER COMING OUT IN 30 MINUTES.

if it comes out positive we will c new lows for cable.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #60,115
  • Apr 1, 2008 8:30am Apr 1, 2008 8:30am
Stop is moved to Break even, this is how I role

Remember I'm a M1 sniper trader!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,116
  • Apr 1, 2008 8:31am Apr 1, 2008 8:31am
I see Abuawad took another "beating" from some posters again in here last night.

Surprising to see it from someone who posts opinions on this site like an expert and expects to be taken seriously.

Real lack of class.

Pros and experts don't need to do that nor do they usually engage in it.

Unbelievable!
"I know how hard it is for you to put food on your family." George W. Bush
  • #60,117
  • Apr 1, 2008 8:34am Apr 1, 2008 8:34am
Out +16, 90min Downtrend is going to continue expect sell wave soon.


Marcow, ever considered he's just a nice guy trying to help and getting pissed at the hassle he gets.


No good deed goes unpunished as they say.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,118
  • Apr 1, 2008 8:35am Apr 1, 2008 8:35am
T - 25mins
Attached Image (click to enlarge)
Click to Enlarge Name: 6.gif Size: 5 KB
ex member
  • #60,119
  • Apr 1, 2008 8:38am Apr 1, 2008 8:38am
if it comes out positive we will c new lows for cable.

Remember the new is bad biased currently, so betting on good news is a suckers bet currently, better odds betting on bad news.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,120
  • Apr 1, 2008 8:41am Apr 1, 2008 8:41am
Going out over news time intentionally, too fast for my small brain to handle.

Got to wait for it to calm down as news doesn't lead to good setups for me
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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