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Cable Update (GBPUSD)

  • #63,361
  • Apr 30, 2008 3:55am Apr 30, 2008 3:55am
Quoting nAVIN2007
we in a downtrend so going up is very difficult...guessing a bottom i hate ..so far no confirmation, if i get a chance i might buy right on the line and hope for the best...

keeping SL very tight.....

bullish engulfing pattern on 30 minutes but i dont trust it ..lol

bearish engulfing previous day... daily candle
Don't chase the market, Let the market come to you
  • #63,362
  • Apr 30, 2008 3:56am Apr 30, 2008 3:56am
Really nervous price action. anybody still holding short GU?
  • #63,363
  • Apr 30, 2008 3:58am Apr 30, 2008 3:58am
Quoting Tmac
be careful with GBP right now. Not a good idea to be in a market prone to mood swings prior to FOMC and with the 2 weakest pairs right now
Problem is.. I'm already in.... holding long positions. If it breaks 1.9600 then I am going to look at scaling out.
  • #63,364
  • Apr 30, 2008 3:59am Apr 30, 2008 3:59am
I go where the price goes... and it's going up... for a while
  • #63,365
  • Apr 30, 2008 3:59am Apr 30, 2008 3:59am
im holding Long hope it can penetrate 1.9680
  • #63,366
  • Apr 30, 2008 4:02am Apr 30, 2008 4:02am
Quoting Tmac
bearish engulfing previous day... daily candle
absolutely man...i need to listen to u more ..always give me clues and only realise afterwards...u the man!!!
  • #63,367
  • Apr 30, 2008 4:03am Apr 30, 2008 4:03am
Have to go back to work. Check in with u guys later. Happy trading
  • #63,368
  • Apr 30, 2008 4:04am Apr 30, 2008 4:04am
Quoting DJ4x
Have to go back to work. Check in with u guys later. Happy trading
good luck buddy
  • #63,369
  • Apr 30, 2008 4:06am Apr 30, 2008 4:06am
Quoting nAVIN2007
absolutely man...i need to listen to u more ..always give me clues and only realise afterwards...u the man!!!
Does it mean that cable still will go down? It's been trending upwards.
Expected the unexpected
  • #63,370
  • Apr 30, 2008 4:07am Apr 30, 2008 4:07am
Quoting nAVIN2007
good luck buddy
i did'nt open yet any position,
but i'm getting blur why u all say it's going south soon?
  • #63,371
  • Apr 30, 2008 4:07am Apr 30, 2008 4:07am
Quoting DJ4x
Problem is.. I'm already in.... holding long positions. If it breaks 1.9600 then I am going to look at scaling out.

0856 GMT [Dow Jones] GBP/USD is off the day's 1.9627 low, but with no domestic events on offer that could support the rate a UK bank trader says investors should sell on rallies after the weak batch of overnight data. He would go short at market, with a stop around 1.9820, looking for sub-1.96 levels in U.S. trade Wednesday. GBP/USD now at 1.9672. (GST)
Don't chase the market, Let the market come to you
  • #63,372
  • Apr 30, 2008 4:07am Apr 30, 2008 4:07am
Quoting lorix
Was Waiting the 1.9590 to go long big time
expect it on news
ill wait more time if it didnt reach there ill go long small lots and keep adding
Will the cable bounce nicly from whare it was expected congras for all the long trades
for this morning
Senior Trader Multi-Account Manager
  • #63,373
  • Apr 30, 2008 4:07am Apr 30, 2008 4:07am
1 more resistance to go at 1.9700
  • #63,374
  • Apr 30, 2008 4:10am Apr 30, 2008 4:10am
Quoting awol
1 more resistance to go at 1.9700
yeah if it take the 1.9702 will see the 19760
Senior Trader Multi-Account Manager
  • #63,375
  • Apr 30, 2008 4:13am Apr 30, 2008 4:13am
Quoting scyang
What makes you think euro is going up? Can you give your analysis?
ok. since u asked ...here it is...
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its just money
  • #63,376
  • Apr 30, 2008 4:15am Apr 30, 2008 4:15am
Hope 2 c u at 1.9760 Lorix
  • #63,377
  • Apr 30, 2008 4:18am Apr 30, 2008 4:18am
good morning everyone, first post on this thread, anyone take the pin on the 4hr.
also carry trades might come into play to push it up.
Attached Image
  • #63,378
  • Apr 30, 2008 4:20am Apr 30, 2008 4:20am
Quoting awol
Hope 2 c u at 1.9760 Lorix
yeah hope too as will i am flat now
ill wait to get there to if it did to start go short by small lots and adding to thim later if it gos more
Senior Trader Multi-Account Manager
  • #63,379
  • Apr 30, 2008 4:26am Apr 30, 2008 4:26am
Quoting lorix
yeah hope too as will i am flat now
ill wait to get there to if it did to start go short by small lots and adding to thim later if it gos more
what the reason u go short on GBPUSD?
  • #63,380
  • Apr 30, 2008 4:27am Apr 30, 2008 4:27am
Quoting Ultraman
i did'nt open yet any position,
but i'm getting blur why u all say it's going south soon?

ok if u look at the daily chart..u can see clearly the markers to show price was rejected, now when we were high it didnt break the trendline..we are spiralling down....best to sell at the top as u never quite know where the bottom is ....

2.04 can only come when we see 1.9932 levels above 2.00 can be got by a breakout of the downtrend only...

the bottoms are getting lower and so are the highs (daily)
one way or other...decision need to be made as to where we go ...the signs point downward and because today is the final day for thee new monthly candle, u just never knows what gonna happens....so its very tricky..not sure if i answered your question but i hope this helps
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