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Cable Update (GBPUSD)

  • #65,541
  • May 13, 2008 4:46am May 13, 2008 4:46am
I am Flat here, the only way I would go short here is with a break of the 9440 level and a test to hold. A nice retracement is likely this morning. If you are out, I would stay out for now, but that is just my opinion. May go only to 9440 and reverse.
  • #65,542
  • May 13, 2008 4:48am May 13, 2008 4:48am
A triple bottom awaits on the daily around 1.9350-1.9375... but I doubt it will go that low today.
  • #65,543
  • May 13, 2008 4:49am May 13, 2008 4:49am
Anyone getting ready to buy?
  • #65,544
  • May 13, 2008 4:51am May 13, 2008 4:51am
Yep, that was a sweet piece of trade. I already had my short in from yesterday at 1.9567 that I left open. I trade news through a service and got a great entry on the news release. I figured anything positive on Cable would be a spike, so i left the short open. I'm targeting 9425 on the short.

Regards,
C

Quoting hard1head1
Anyone catch that release straight up to M3 Mid-Pivot than back with the trend where it left off.
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  • #65,545
  • May 13, 2008 4:57am May 13, 2008 4:57am
I can' t figure out as to why G/U is going south. The news are all positive. It should be going up. "FOREX" still can't figure it out.
  • #65,546
  • May 13, 2008 4:59am May 13, 2008 4:59am
Going long.... 1.9466....
  • #65,547
  • May 13, 2008 5:01am May 13, 2008 5:01am
Quoting DJ4x
Going long.... 1.9466....
I'm also going in long at 1.9465
"The trend is your friend, until the end."
  • #65,548
  • May 13, 2008 5:07am May 13, 2008 5:07am
GU showing signs of slowing down. Could just be a stall, but I dont think so. I will wait and see what the lower lights start showing. Two small spinners have appeared on the 5 Min TF, almost 2 little hammers, a sign that the pair may be turning.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 40 KB
  • #65,549
  • May 13, 2008 5:11am May 13, 2008 5:11am
Long is against the trend. I have seen news releases in the past that are favorable to one pair, drive the price against the trend only to be turned down by a small bit of resistance or support, then travel 100 pips in the other direction.

Quoting DJ4x
Going long.... 1.9466....
  • #65,550
  • May 13, 2008 5:13am May 13, 2008 5:13am
yesterday good news brings cable up and today better news brings cable down ....
  • #65,551
  • May 13, 2008 5:17am May 13, 2008 5:17am
The longer you wait and the closer it gets to 9440, the smaller your stop has to be. I will chance that it will move down a bit more. I will start with a couple, then if it pulls back down I will add some more. Smart trading!!
  • #65,552
  • May 13, 2008 5:25am May 13, 2008 5:25am
Quoting hard1head1
Long is against the trend.
For me this is confusing unless you are referring to short term trend.
GBP has reached the lowest level of bearish trend since the beginning of the year.

Anything can happen, and at this moment UK news is in favour of going back up to retest the year's highest high, unless it breaks current level

It can go either way.
  • #65,553
  • May 13, 2008 5:26am May 13, 2008 5:26am
Quoting hard1head1
The longer you wait and the closer it gets to 9440, the smaller your stop has to be. I will chance that it will move down a bit more. I will start with a couple, then if it pulls back down I will add some more. Smart trading!!
It should start picking up in about three hours. What do you say.
  • #65,554
  • May 13, 2008 5:30am May 13, 2008 5:30am
Hope this helps

Quoting fxbroker
For me this is confusing unless you are referring to short term trend.
GBP has reached the lowest level of bearish trend since the beginning of the year.

Anything can happen, and at this moment UK news is in favour of going back up to retest the year's highest high, unless it breaks current level

It can go either way.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu.gif Size: 45 KB
Click to Enlarge Name: gu1.gif Size: 47 KB
  • #65,555
  • May 13, 2008 5:31am May 13, 2008 5:31am
Here is the Daily
Attached Image (click to enlarge)
Click to Enlarge Name: gu2.gif Size: 46 KB
  • #65,556
  • May 13, 2008 5:37am May 13, 2008 5:37am
Needs to get by some hurdles like the 89 and the DPP and then test it and hold. Entry now is risky, but I like to go with it because of the tight stoploss. My stop was a mere 15 when I got in and this trade may net over 100, not bad R & R. Already up 6 as this is written.


Quoting maverick
It should start picking up in about three hours. What do you say.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 45 KB
  • #65,557
  • May 13, 2008 5:40am May 13, 2008 5:40am
Has anyone seen the dude that came in and asked if anyone was placing money on the guesses that were coming out in this room. Why don't he help out instead of criticizing. I thought that was rude.
  • #65,558
  • May 13, 2008 5:42am May 13, 2008 5:42am
We are at the first obstacle the 11 & 21 EMA's. Pair could bounce down off of these
  • #65,559
  • May 13, 2008 5:46am May 13, 2008 5:46am
Quoting hard1head1
We are at the first obstacle the 11 & 21 EMA's. Pair could bounce down off of these
im confused to be honest bro .....people always say its in the chart and news influence the movements..how after the news is movement down accelerated especially when b4 it was static..

is it best to disregard news and just go with the charts...chart were saying down, news up?

which to follow, or just be very carefull in news?
  • #65,560
  • May 13, 2008 5:49am May 13, 2008 5:49am
Quoting nAVIN2007
im confused to be honest bro .....people always say its in the chart and news influence the movements..how after the news is movement down accelerated especially when b4 it was static..

is it best to disregard news and just go with the charts...chart were saying down, news up?

which to follow, or just be very carefull in news?
I hear you bro, i'm as confused as everyone else here. I've just closed my long position taking a small profit and going against the trend. Where do we go from here?
"The trend is your friend, until the end."
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