Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

#79,521
Aug 3, 2008 11:42pm Aug 3, 2008 11:42pm

sblank
| Joined Oct 2006 | Status: Trader | 305 Posts

Looks like next support areas to be 196.68 and then down to the 195.90 area on the 4hr.

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#79,522
Aug 3, 2008 11:43pm Aug 3, 2008 11:43pm

mrmunir
| Joined May 2008 | Status: MC is one of my Trading Strategy | 170 Posts

who's buying gu at this time?

#79,523
Aug 3, 2008 11:44pm Aug 3, 2008 11:44pm

cgldsmth
| Joined Dec 2005 | Status: It's only money | 1,413 Posts

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 3, 2008 11:50pm Aug 3, 2008 11:50pm

belekas
Joined Sep 2007 | Status: gone fishing | 5,782 Posts

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 3, 2008 11:51pm Aug 3, 2008 11:51pm

for_idea
| Joined May 2008 | Status: Trader | 414 Posts

Quoting mrmunir

Disliked

who's buying gu at this time?

Ignored

i'm looking forward to do that, just waiting for london

#79,526
Aug 3, 2008 11:53pm Aug 3, 2008 11:53pm

belekas
Joined Sep 2007 | Status: gone fishing | 5,782 Posts

Quoting for_idea

Disliked

i'm looking forward to do that, just waiting for london

Ignored

Yes, the brits like to bring on their famous Big Ben reversal LOL

#79,527
Aug 4, 2008 12:18am Aug 4, 2008 12:18am

for_idea
| Joined May 2008 | Status: Trader | 414 Posts

Quoting belekas

Disliked

Yes, the brits like to bring on their famous Big Ben reversal LOL

Ignored

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 12:23am Aug 4, 2008 12:23am

belekas
Joined Sep 2007 | Status: gone fishing | 5,782 Posts

Quoting for_idea

Disliked

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

Ignored

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 12:25am Aug 4, 2008 12:25am

dancarey
| Joined Jul 2008 | Status: Win >= 1 pip | 148 Posts

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 12:26am Aug 4, 2008 12:26am

Alastair
| Joined Jun 2008 | Status: Learning Properly This Time! | 1,212 Posts

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 12:28am Aug 4, 2008 12:28am

fransisco
| Joined Apr 2008 | Status: Cable Citizen | 85 Posts

Quoting dancarey

Disliked

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.

Ignored

already closed +35 touched 1.9705, jump again test for R1..

#79,532
Aug 4, 2008 12:43am Aug 4, 2008 12:43am

nAVIN2007
Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts

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 12:48am Aug 4, 2008 12:48am

truthy
| Joined Jun 2008 | Status: Trading is 90 % psychological | 47 Posts

Closed short for +45, nice start

#79,534
Aug 4, 2008 12:50am Aug 4, 2008 12:50am

Jurrasic
| Joined Feb 2008 | Status: Live long and have fun :) | 1,386 Posts

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 12:52am Aug 4, 2008 12:52am

Optimum
| Joined Jun 2008 | Status: Trader | 1,017 Posts

Go to 1,9650

#79,536
Aug 4, 2008 12:58am Aug 4, 2008 12:58am

sblank
| Joined Oct 2006 | Status: Trader | 305 Posts

Quoting Optimum

Disliked

Go to 1,9650

Ignored

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 1:31am Aug 4, 2008 1:31am

I.Y.I
| Joined Jul 2007 | Status: Trader | 310 Posts

Check out the daily trend line bro.

Quoting Alastair

Disliked

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.

Ignored

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#79,538
Aug 4, 2008 1:37am Aug 4, 2008 1:37am

Jurrasic
| Joined Feb 2008 | Status: Live long and have fun :) | 1,386 Posts

Quoting sblank

Disliked

It should if we close under the lower trend line on the 1hr. Still have my short open from yesterday pm.

Ignored

Quoting I.Y.I

Disliked

Check out the daily trend line bro.

Ignored

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.