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Cable Update (GBPUSD)

  • #62,281
  • Apr 22, 2008 4:43am Apr 22, 2008 4:43am
Quoting hard1head1
A LLLLLLLLLLLLLLLLOOOOOOOOOOOOOOOOOOOONNNNNNNNNNNNNNNNNGGGGGGGGGGGGGlegged hammer too.

long TP @ 2.0030
  • #62,282
  • Apr 22, 2008 4:54am Apr 22, 2008 4:54am
Drew my trendline on the 15, gonna add to it every time it comes and hits.

Quoting warta
long TP @ 2.0030
  • #62,283
  • Apr 22, 2008 4:55am Apr 22, 2008 4:55am
hi guys ..i guess as u guys already know we in a falling wedge and price will follow top and bottom trendlines (red) till we get towards the end where the 2 lines meet, then look for a breakout toward the top, to resume long term trend..till then i guess we in a consolidation area ..

the good news is we in a range so its gonna go and down between the 2 lines

what do u guys think ..have i got this right ? ..im trying sit out this week and gain confidence in the market ..and also need to work otherwise might get sacked ...lol
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  • #62,284
  • Apr 22, 2008 4:55am Apr 22, 2008 4:55am
Price is at the 89 Smoothed on the 15 and will take some time to pass/
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  • #62,285
  • Apr 22, 2008 4:56am Apr 22, 2008 4:56am
Quoting warta
long TP @ 2.0030
Myself I'm not really long since here, but I unhedged a position at 1.9832.
I just noticed we ran into alot of resistance here.
If you look at M1, you see we moved up in nice waves, now we dont anymore. I think we might go down to 1.9800 before heading up again.
  • #62,286
  • Apr 22, 2008 5:00am Apr 22, 2008 5:00am
Quoting nAVIN2007
hi guys ..i guess as u guys already know we in a falling wedge and price will follow top and bottom trendlines (red) till we get towards the end where the 2 lines meet, then look for a breakout toward the top, to resume long term trend..till then i guess we in a consolidation area ..

the good news is we in a range so its gonna go and down between the 2 lines

what do u guys think ..have i got this right ? ..im trying sit out this week and gain confidence in the market ..and also need to work otherwise might get sacked ...lol
I think you allow too much noise outside of that wedge. I don't trust patterns with that much noise.
  • #62,287
  • Apr 22, 2008 5:14am Apr 22, 2008 5:14am
Next res. point is the daily Pivot as we are coming up to. Expect consolodation, possibly over to the UTL. If the price crosses and retests the DPP I will add to my order on the first green candle.

Jim
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  • #62,288
  • Apr 22, 2008 5:15am Apr 22, 2008 5:15am
Quoting SimonJ
I think you allow too much noise outside of that wedge. I don't trust patterns with that much noise.
i see what u mean this is why im not in the trade but i do think think we are in a consolidation period and technically trades breaking on the upside is the direction we should break out ..as the trend b4 this consolidation was up...
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  • #62,289
  • Apr 22, 2008 5:17am Apr 22, 2008 5:17am
Looking for Cable and E/U to part ways here.
  • #62,290
  • Apr 22, 2008 5:23am Apr 22, 2008 5:23am
Okay, GBP is looking topps here, nice up channel move though.

Eur just broke into a down channel but still uptrending on the day here, but could drag GBP down.

USDJPY just broke into a up channel and cleared 24hour resistance line, take a long position there.


Going to be a interesting day
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,291
  • Apr 22, 2008 5:23am Apr 22, 2008 5:23am
We get thru this Daily PP, this could be one sweet baby. We will be in High Cotton.
  • #62,292
  • Apr 22, 2008 5:33am Apr 22, 2008 5:33am
I shoulda gotten in the up channel earlier, that is my currently trading style, trade the channel, go 1/2 in then 1/2 more on the pull back, exit when the channel fails, back tests sweet, really easy to do.

And for min losses, should net some really big worthwhile pips


My trading style is finally maturing i feel
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,293
  • Apr 22, 2008 5:34am Apr 22, 2008 5:34am
Quoting hard1head1
We get thru this Daily PP, this could be one sweet baby. We will be in High Cotton.
it will buddy ...good entery u have there .....
  • #62,294
  • Apr 22, 2008 5:34am Apr 22, 2008 5:34am
I got the price thru the 89 all the way up to the 4 hr, this is usually a great sign for me, guys. but we may come back a bit but eventually we will continue.
  • #62,295
  • Apr 22, 2008 5:38am Apr 22, 2008 5:38am
Here is my take on the next few hours, lets see what happens.
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  • #62,296
  • Apr 22, 2008 5:43am Apr 22, 2008 5:43am
News in 20mins people, speach so not a immediate effect, not much news is good news at the moment, so if gbp starts to turn against you, no hesitations on taking your profits or if needs cutting your losses.

But the Up channel is in effect, don't argue with it !!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,297
  • Apr 22, 2008 5:46am Apr 22, 2008 5:46am
Quoting Turveyd
News in 20mins people, speach so not a immediate effect, not much news is good news at the moment, so if gbp starts to turn against you, no hesitations on taking your profits or if needs cutting your losses.

But the Up channel is in effect, don't argue with it !!
exactly!!! you stole my words Turveyd, i was abt to write the same thing ina new post...but you said it and rightly so, the uptrend is in effect, and the news around is'nt supposed to disturb it much, i see the 4 hour showing a perfect move up for atleast 100 pips and i am on it...unnecessary negitivity will take you no where...the trend is up so except it and act...
I believe . . .
  • #62,298
  • Apr 22, 2008 5:51am Apr 22, 2008 5:51am
The stealth buying in usdjpy makes me nervous though that gbp will possible swing lower.


S1 1.9847 90min, then 1.9830 3hour then timber!!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,299
  • Apr 22, 2008 5:58am Apr 22, 2008 5:58am
1.9896 around this area if it crosses then up otherwise might be down again ..
  • #62,300
  • Apr 22, 2008 6:02am Apr 22, 2008 6:02am
Interesting how gpb is strong still, and yet euro is in a weak down channel here.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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