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Cable Update (GBPUSD)

  • #62,381
  • Edited 11:49pm Apr 22, 2008 11:16pm | Edited 11:49pm
Quoting manize
On H1 chart, cable open/close between 1.9946 - 1.9967 within 11 hrs, very small range. It is unusual habit. May anyone explain what indication it is ?
H1 new candle open/close below 1.9946, maybe perfom downtrend now at least for 30 min next, but looks like still unsure where strong trend will be. I close short at 1.9939 from 1.9944. Wisely waiting for till H4 new candle opened.
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #62,382
  • Apr 22, 2008 11:45pm Apr 22, 2008 11:45pm
^^ but it's bouncing a little bit upwards..
  • #62,383
  • Edited Apr 23, 2008 12:12am Apr 22, 2008 11:57pm | Edited Apr 23, 2008 12:12am
Quoting plumiash
^^ but it's bouncing a little bit upwards..
Yeah .... therefore after analyze 15 min, I close my short quickly just for 5 pips before moved up. Let wait H4 new candle open. But now more wide moving, we can see on M30 bottom limit shown at 1.9940. If H4 new candle opens below 1.9940 we will see strong downtrend, otherwise should be more patient to open a trade.
Attached Image
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #62,384
  • Apr 23, 2008 12:04am Apr 23, 2008 12:04am
Quoting manize
Yeah .... therefore after analyze 15 min, I close my short quickly just for 5 pips before moved up. Let wait H4 new candle open. But now more wide moving, we can see on M30 bottom limit shown at 1.9940. If H4 new candle open below 1.9940 we will see strong downtrend, otherwise should be more patient to open a trade.
h4 opened above 1.9940..

currently, i keep my long position from yesterday @1.9750.. still curious at 2.0050 resistant level.. if gbp couldn't passthrough, i'd prefer to close my long position, walla walla..
  • #62,385
  • Apr 23, 2008 12:14am Apr 23, 2008 12:14am
Quoting plumiash
h4 opened above 1.9940..

currently, i keep my long position from yesterday @1.9750.. still curious at 2.0050 resistant level.. if gbp couldn't passthrough, i'd prefer to close my long position, walla walla..
Good luck for you. you may wait a moment still possible to move up more to get more profits. I just only shared what stragey I use.
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #62,386
  • Apr 23, 2008 12:18am Apr 23, 2008 12:18am
Quoting manize
Good luck for you. I just only shared what stragey I use.
thank you..
it's nice to have another strategy shared here.. thats why we need a forum like here isn't it?

no matter what strategy we'll use, as long as we could get profit.. it's achievement for both of us..
  • #62,387
  • Apr 23, 2008 12:42am Apr 23, 2008 12:42am
Quoting plumiash
thank you..
it's nice to have another strategy shared here.. thats why we need a forum like here isn't it?

no matter what strategy we'll use, as long as we could get profit.. it's achievement for both of us..
OK ... be carefull with your hold long ...
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #62,388
  • Apr 23, 2008 12:54am Apr 23, 2008 12:54am
Quoting manize
OK ... be carefull with your hold long ...


surely i will..
  • #62,389
  • Apr 23, 2008 1:13am Apr 23, 2008 1:13am
Quoting hard1head1
My chart says, short unless we get a breach of 2.0035. I wouldnt rule out another short
I also smell a dirty bear hard1head1
  • #62,390
  • Apr 23, 2008 1:23am Apr 23, 2008 1:23am
Close enough. This is where I got in

Jim


Quoting TraderJR
Can't see it - are you referring to GBP/USD? You've commented on other pairs in this forum but it's really for GU only - otherwise things get more confusing than usual
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 45 KB
  • #62,391
  • Apr 23, 2008 1:29am Apr 23, 2008 1:29am
Not to keen on these news releases, but I think we are seeing the early movements. Can anyone help me, does a cut mean bad for GBP? As the price hits the DPP
  • #62,392
  • Apr 23, 2008 1:31am Apr 23, 2008 1:31am
Price took out the Daily Pivot Point like Grant took Pittsburg!! Lots of momentum here, guys.
  • #62,393
  • Apr 23, 2008 2:07am Apr 23, 2008 2:07am
Quoting hard1head1
Price took out the Daily Pivot Point like Grant took Pittsburg!! Lots of momentum here, guys.

Do see it hitting the S1 or getting a little close? think it's still gonna fall?
PIPS AND PIPS ONLY... + OF COURSE
  • #62,394
  • Apr 23, 2008 2:13am Apr 23, 2008 2:13am
The 50 ema crossed the 200 ema on the 3 and 5 minute charts. This baby is heading down. Use the 3 minute chart with slow stochs using 15,9,3 to scalp on the retraces.
  • #62,395
  • Apr 23, 2008 2:15am Apr 23, 2008 2:15am
Quoting kaka08
Do see it hitting the S1 or getting a little close? think it's still gonna fall?
It's M2/M4 day.
  • #62,396
  • Apr 23, 2008 3:05am Apr 23, 2008 3:05am
Quoting hard1head1
Not to keen on these news releases, but I think we are seeing the early movements. Can anyone help me, does a cut mean bad for GBP? As the price hits the DPP
in the short term yes a rate cut means that cable is going down.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #62,397
  • Apr 23, 2008 3:10am Apr 23, 2008 3:10am
Quoting hard1head1
Not to keen on these news releases, but I think we are seeing the early movements. Can anyone help me, does a cut mean bad for GBP? As the price hits the DPP

we going up buddy but i dont know what the news release means ..a cut of 9 means what for £? .....i think increase consumer spending and should have positve effect on cable but im not sure at all....

salah i have this wrong it seems..how come down buddy ?
  • #62,398
  • Apr 23, 2008 3:10am Apr 23, 2008 3:10am
Quoting salah k.
in the short term yes a rate cut means that cable is going down.
its old news, ithink any doveish news will be quickly flushed out
Trading is 80% Emotional, 20% Technical
  • #62,399
  • Apr 23, 2008 3:17am Apr 23, 2008 3:17am
Quoting nAVIN2007
we going up buddy but i dont know what the news release means ..a cut of 9 means what for £? .....i think increase consumer spending and should have positve effect on cable but im not sure at all....

salah i have this wrong it seems..how come down buddy ?
when ur decreasing rates on a currency people usually dont put their money in that currency in the short term because the rates given by banks are low.

but on the long term decreasing rates sparks the economy and might help with credit crunch and hence with housing problem.

or so they say.

didnt u notice wat happened wen time US decreased rates by 50bps last november.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #62,400
  • Apr 23, 2008 3:18am Apr 23, 2008 3:18am
I am thinking we probably would be heading up as well - to 2.0000 first before exhaustion, and then have to re-look again.

I'm no guru but we gotta take the whole picture in consideration, not just the GBP cuts. USD has been overall bearish against the majors this week, and the GBP cut is expected, so it might already be priced in.

Price has also rebounded strongly on last 50% fib level.
Trade the reaction, not the news!
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