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Cable Update (GBPUSD)

  • #67,101
  • May 21, 2008 4:53pm May 21, 2008 4:53pm
Quoting koltri
are u expecting the range from the fundie, or got some techni?
im not a 100% sure but i got some tech and fundies should help the push.
If I Go Broke Trying Then I Will die happy.
  • #67,102
  • May 21, 2008 4:55pm May 21, 2008 4:55pm
Quoting Bones
Lol, you think so Moe I bet a daily close over 9730 we don’t.(2 hrs away for me)
9500 will be close enough for me unless 1.9863 get hit then il be
If I Go Broke Trying Then I Will die happy.
  • #67,103
  • May 21, 2008 4:56pm May 21, 2008 4:56pm
it is possible for retail sales to come in as expected or lower, but the USD is weak, if you are a bull on EUR/USD then you might want to cover if you think sterling/usd will go down that much, but hey these markets are very volatile lately, anything is possible 4H Chart is beautiful
  • #67,104
  • May 21, 2008 4:57pm May 21, 2008 4:57pm
good luck to all, Long And shorts im out.
If I Go Broke Trying Then I Will die happy.
  • #67,105
  • May 21, 2008 4:57pm May 21, 2008 4:57pm
Quoting Moe
9500 will be close enough for me unless 1.9863 get hit then il be

did u enter with 50 lots again cause if u did, then at least there some downward pressure....can only help
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  • #67,106
  • May 21, 2008 4:58pm May 21, 2008 4:58pm
I think you got a chance to make some pips there Nav just keep it tight.

Dont forget the Dollar is showing weakness ,I have no idea why but it dose.

Quoting nAVIN2007
im short too ...will hold this for sure no matter what....
@1.9713
will sell if we go above 1.98 too ...im getting these positions ready since we in a downtrend
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #67,107
  • May 21, 2008 4:58pm May 21, 2008 4:58pm
Ballsy move there guys going short, pull back in a Downtrend theory I guess and assuming most GBP news is bad news currently recently, I'll give you a 65% chance on not breaking 1.9770 and heading down generally.

Good luck, sitting this one out though, too ballsy for me.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #67,108
  • May 21, 2008 4:59pm May 21, 2008 4:59pm
il get back to you, Fx local
If I Go Broke Trying Then I Will die happy.
  • #67,109
  • May 21, 2008 5:01pm May 21, 2008 5:01pm
Quoting Turveyd
Ballsy move there guys going short, pull back in a Downtrend theory I guess and assuming most GBP news is bad news currently recently, I'll give you a 65% chance on not breaking 1.9770 and heading down generally.

Good luck, sitting this one out though, too ballsy for me.
if it goes down we should at least see 1.9550
If I Go Broke Trying Then I Will die happy.
  • #67,110
  • May 21, 2008 5:03pm May 21, 2008 5:03pm
Quoting Bones
I think you got a chance to make some pips there Nav just keep it tight.

Dont forget the Dollar is showing weakness ,I have no idea why but it dose.
bro all i must do is hold the position and if i can do this i have every chance i went in on 0.1 so i can hold if it goes to 1.98 i shouldnt be stressed cause i went in small ....welldone tone now yur trading is starting to reflect yur real ability ..proud of u man! .....

keep it up!
  • #67,111
  • May 21, 2008 5:04pm May 21, 2008 5:04pm
Quoting Moe
il get back to you, Fx local
thanks mate
Trading is 80% Emotional, 20% Technical
  • #67,112
  • May 21, 2008 5:06pm May 21, 2008 5:06pm
I believe it can touch the previous level of 2$ at most with in 2 weeks at most UK int rate , $ weakness ... just watch the Oil and Gold and look to the other side of UK central bank minutes.... am seeking a deposit of some moeny in uk i think i can get more moeny than my trade at least till the end of 08
Greed is Trader 1st enemy.
  • #67,113
  • May 21, 2008 5:12pm May 21, 2008 5:12pm
First of, good luck to everyone regardless of their expectation for this pair to go North or South. I just wanted to share my point of view of this pair at the current situation with simple price action. Any comment is highly appreciated.

From what I see, daily candle broke the linear trend line from 'H4' and the daily candle closed more than 15 pips above the trend line. I think price will come back down to test this trend line and finally, price movement will be determined upon the release of UK retail sales data which from my experience is pretty important for GU. If the retail sales data is good enough then I think GU has the momentum to go as high as 1.9950 in the next 2-3 weeks. If not then I guess it might go as low as 1.9315. Hope everyone will be score some green pips tomorrow.
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  • #67,114
  • May 21, 2008 5:16pm May 21, 2008 5:16pm
Well its not that ballsy could well be the perfect entry with small stop
Quoting Turveyd
Ballsy move there guys going short, pull back in a Downtrend theory I guess and assuming most GBP news is bad news currently recently, I'll give you a 65% chance on not breaking 1.9770 and heading down generally.

Good luck, sitting this one out though, too ballsy for me.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #67,115
  • May 21, 2008 5:33pm May 21, 2008 5:33pm
especially in front of UK retail sales, hard to imagine them to support cable but anything is possible i guess
Trading is 80% Emotional, 20% Technical
  • #67,116
  • May 21, 2008 6:16pm May 21, 2008 6:16pm
Quoting Bones
Well its not that ballsy could well be the perfect entry with small stop

Trends still up on all my SMA channels, just skipped off the 6hour sma, which it's done countless times since 5:30pm GMT, so the trend is up and should be respected.

Likely move it up near 1.9770 over the night before the news trap some longs then reverse hard, but nothing is certain.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #67,117
  • May 21, 2008 6:56pm May 21, 2008 6:56pm
Well im not sure of the direction right now so will close out and review tomorrow.
I do feel sure of the overall direction just not sure if it’s a step back before two steps forward.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #67,118
  • May 21, 2008 7:10pm May 21, 2008 7:10pm
Quoting Bones
Well im not sure of the direction right now so will close out and review tomorrow.
I do feel sure of the overall direction just not sure if it’s a step back before two steps forward.
direction??

Pivot: 1.965

Our preference: Long positions above 1.965 with targets @ 1.972 & 1.975 in extension.

Alternative scenario: Below 1.965 look for further downside with 1.9615 & 1.955 as targets.

Comment: the pair is bouncing off the 1.9620 strong support area and has broken above a ST declining trend line.

long from 9657

Navin chart was sent to you
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Don't chase the market, Let the market come to you
  • #67,119
  • May 21, 2008 8:24pm May 21, 2008 8:24pm
Quoting fx local
thanks mate
If I Go Broke Trying Then I Will die happy.
  • #67,120
  • May 21, 2008 9:59pm May 21, 2008 9:59pm
The reason why cable is lethargic and not going up is because I went in long. I thought I would just confess to everybody and apologize.
Expected the unexpected
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