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Cable Update (GBPUSD)

  • #79,521
  • Aug 4, 2008 1:42am Aug 4, 2008 1:42am
Looks like next support areas to be 196.68 and then down to the 195.90 area on the 4hr.
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr.jpg Size: 179 KB
  • #79,522
  • Aug 4, 2008 1:43am Aug 4, 2008 1:43am
who's buying gu at this time?
  • #79,523
  • Aug 4, 2008 1:44am Aug 4, 2008 1:44am
could easily be the 0730 GMT bank flushout of stops. One of my very first ever FX strategies was to reverse the direction of 0700-0730. Seemed to work about 75%. Bad MM made me give it up. The same principle often works for equity indices, ie. if FTSE opens up, after 30-60 minutes it'll often be down.
TRADE FOR SWAP
  • #79,524
  • Aug 4, 2008 1:50am Aug 4, 2008 1:50am
Closed my short from the bounce of the descending 4hr channels UTL for 160 points right on the daylyS1. Though the original TP was at the LTL. But its all good for a start
  • #79,525
  • Aug 4, 2008 1:51am Aug 4, 2008 1:51am
Quoting mrmunir
who's buying gu at this time?
i'm looking forward to do that, just waiting for london
  • #79,526
  • Aug 4, 2008 1:53am Aug 4, 2008 1:53am
Quoting for_idea
i'm looking forward to do that, just waiting for london
Yes, the brits like to bring on their famous Big Ben reversal LOL
  • #79,527
  • Aug 4, 2008 2:18am Aug 4, 2008 2:18am
Quoting belekas
Yes, the brits like to bring on their famous Big Ben reversal LOL
it's not good to bet on reversals, but i see it pretty possible.
15 and 30 candles closed recently itches go long just imo, imo, imo
  • #79,528
  • Aug 4, 2008 2:23am Aug 4, 2008 2:23am
Quoting for_idea
it's not good to bet on reversals, but i see it pretty possible.
15 and 30 candles closed recently itches go long just imo, imo, imo
We are trading in the downtrend channel. I need some pretty heavy price action so that i would be thinking to buy. Why play a retracement against the trend when we can sell at the top of the channel and go with the flow...Also the descending LTL havent been touched...Just my 0.2
  • #79,529
  • Aug 4, 2008 2:25am Aug 4, 2008 2:25am
Looking at the EUR/USD, this will be the third time to test breaking the R1. If it breaks it, I'll be looking for reversal on the GBP/USD.
  • #79,530
  • Aug 4, 2008 2:26am Aug 4, 2008 2:26am
I fully agree with Belekas, i dont think its long time yet, still going down..
Im waiting for my sell signal to develop and im shorting in a while.
Keep It Simple Stupid
  • #79,531
  • Aug 4, 2008 2:28am Aug 4, 2008 2:28am
Quoting dancarey
Looking at the EUR/USD, this will be the third time to test breaking the R1. If it breaks it, I'll be looking for reversal on the GBP/USD.
already closed +35 touched 1.9705, jump again test for R1..
  • #79,532
  • Aug 4, 2008 2:43am Aug 4, 2008 2:43am
any1 have a idea of how high this thing will go b4 it sinks heavy, i wanna set a pending order to sell
  • #79,533
  • Aug 4, 2008 2:48am Aug 4, 2008 2:48am
Closed short for +45, nice start
  • #79,534
  • Aug 4, 2008 2:50am Aug 4, 2008 2:50am
Bought cable small, stop at 662. Hope to see it come up strong as hopefully EU will go higher with it's retracement/reversal.
On the path to Enrichment.
  • #79,535
  • Aug 4, 2008 2:52am Aug 4, 2008 2:52am
Go to 1,9650
  • #79,536
  • Aug 4, 2008 2:58am Aug 4, 2008 2:58am
Quoting Optimum
Go to 1,9650
It should if we close under the lower trend line on the 1hr. Still have my short open from yesterday pm.
  • #79,537
  • Aug 4, 2008 3:31am Aug 4, 2008 3:31am
Check out the daily trend line bro.


Quoting Alastair
I fully agree with Belekas, i dont think its long time yet, still going down..
Im waiting for my sell signal to develop and im shorting in a while.
Attached Image (click to enlarge)
Click to Enlarge Name: untitled.JPG Size: 142 KB
  • #79,538
  • Aug 4, 2008 3:37am Aug 4, 2008 3:37am
Quoting sblank
It should if we close under the lower trend line on the 1hr. Still have my short open from yesterday pm.
Quoting I.Y.I
Check out the daily trend line bro.
You guys sure have some interesting ways of drawing trendlines. I don't see a penetration of 3h-4h LTL, it stopped right at it on my chart. That daily trend line on IYI's chart I don't get at all, I was under the impression that you need to connect at least 2 points to make a line...
On the path to Enrichment.
  • #79,539
  • Aug 4, 2008 3:41am Aug 4, 2008 3:41am
I got ya....
  • #79,540
  • Aug 4, 2008 3:44am Aug 4, 2008 3:44am
my 1hr is ok....fu-barded the 4hr.
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