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Cable Update (GBPUSD)

  • #83,401
  • Aug 21, 2008 4:24am Aug 21, 2008 4:24am
Quoting peulthai
Ya-Raz,

Wat do you think? Are sight of a southward ride?
Yes we are going south slowly. At the moment gbpusd still retest the resistance. Soon we will see the strong down move.
  • #83,402
  • Aug 21, 2008 4:26am Aug 21, 2008 4:26am
I think the highest high for today has already been atained (1.8705).

It will play around but finally hit 1.85xx- 1.8612.

Am not too certain but think someone can help me out.
  • #83,403
  • Aug 21, 2008 4:36am Aug 21, 2008 4:36am
8692 the best price to short.. i mean now..
  • #83,404
  • Aug 21, 2008 4:38am Aug 21, 2008 4:38am
carefull shorties.............
I Deeply Love My Virtual Life In Virtual World , RLC
  • #83,405
  • Aug 21, 2008 4:41am Aug 21, 2008 4:41am
Quoting notme32
carefull shorties.............
Why? Did you see something?
Expected the unexpected
  • #83,406
  • Aug 21, 2008 4:50am Aug 21, 2008 4:50am
Quoting notme32
carefull shorties.............
R u still holding longs from around 1.9000.
I know that u r a long term trader
edit:

Your profile says scalping, but you held onto shorts for more than a month from highs around 2.000 area until it reached 1.9
  • #83,407
  • Aug 21, 2008 4:51am Aug 21, 2008 4:51am
yay!!!! its coming to rescue me!
Keep It Simple Stupid
  • #83,408
  • Aug 21, 2008 4:58am Aug 21, 2008 4:58am
Quoting Alastair
yay!!!! its coming to rescue me!
Infact, my arms are wide open to embrace my shortward riders... I have been short since 1.8646...

I rushed out to drop my kid at his aunts and didnt make it to reap the 50pips GBP gave... so 50pips were against me.

Cant wait to have a southward ride man!
  • #83,409
  • Aug 21, 2008 5:00am Aug 21, 2008 5:00am
heys guys hows it going,

seems cable trying hard to build a base around this area(pathetic attempt!), underlying tone is still weak though, with any rallies seen as selling opps nearer 1.900 perhaps...

shows bear market when it shrugs off good retail sales news...

it seems day trading scalping been profitable of late.

happy trading
Trading is 80% Emotional, 20% Technical
  • #83,410
  • Aug 21, 2008 5:05am Aug 21, 2008 5:05am
Quoting DJ4x
R u still holding longs from around 1.9000.
I know that u r a long term trader
edit:

Your profile says scalping, but you held onto shorts for more than a month from highs around 2.000 area until it reached 1.9
yes long term and hedge + scalping , so my goal is always +pips thats all....

hold few long around 1.9000 and just close short from around 1.8850, last few days i am scalp....... is complex now i am more prefer long (today)
I Deeply Love My Virtual Life In Virtual World , RLC
  • #83,411
  • Aug 21, 2008 5:18am Aug 21, 2008 5:18am
Quoting notme32
yes long term and hedge + scalping , so my goal is always +pips thats all....

hold few long around 1.9000 and just close short from around 1.8850, last few days i am scalp....... is complex now i am more prefer long (today)


Correct trader. thats the best way to trade... this is the best post i have ever read here... cos thats the way i trade... NICE ONE BRO KEEP THE GREEN PIPS ROLLING
  • #83,412
  • Aug 21, 2008 5:45am Aug 21, 2008 5:45am
guys what is hedge
  • #83,413
  • Aug 21, 2008 6:13am Aug 21, 2008 6:13am
please may the bears be back in town.
going to have to watch the macd very closely.
Keep It Simple Stupid
  • #83,414
  • Aug 21, 2008 7:25am Aug 21, 2008 7:25am
Quoting trading801
guys what is hedge
hedge right now for me is long and short at the same pair.
I Deeply Love My Virtual Life In Virtual World , RLC
  • #83,415
  • Aug 21, 2008 7:28am Aug 21, 2008 7:28am
Quoting myteax
Correct trader. thats the best way to trade... this is the best post i have ever read here... cos thats the way i trade... NICE ONE BRO KEEP THE GREEN PIPS ROLLING
good for you..........
I Deeply Love My Virtual Life In Virtual World , RLC
  • #83,416
  • Aug 21, 2008 8:25am Aug 21, 2008 8:25am
Am entering short again TP @ .8648.

guess am bliind right now... cant tell where it is going to go... but i am more short bias.

What do you think folks?
  • #83,417
  • Aug 21, 2008 8:31am Aug 21, 2008 8:31am
Quoting peulthai
Am entering short again TP @ .8648.

guess am bliind right now... cant tell where it is going to go... but i am more short bias.

What do you think folks?
i would wait till 30 min candle closes above resistance then will see... overall looks bullish
  • #83,418
  • Aug 21, 2008 8:35am Aug 21, 2008 8:35am
There is certainly resistance in the area 8700-12, the 8712 being the once breeched 38.2% of the 9036-8512 move, and the area 8695-8710 being hit and held 3 times intraday, producing a sell off. 8725/35 looks potential resistance also being a previous 1hr swing hi/minor swing lo area, 8722 being the 76.4% of the 8787-8512 move, so I would certainly have a stop out of the way of that 2nd area of potential resistance.

There are some sequential regular divergence patterns on 30min and 1hr oscillators to support your shorting decision, although these are not the strongest divergence patterns.

G/L.
ex member
  • #83,419
  • Aug 21, 2008 8:38am Aug 21, 2008 8:38am
It looks like a classic EW triangle to me. Watch out for the bull traps!

It just finished wave E and should be going down soon to start the big wave 5.
My bet is on the down side ...
  • #83,420
  • Aug 21, 2008 8:38am Aug 21, 2008 8:38am
Closed long at +50 pips.... Not sure where its heading right now. See tomorrow at london open.
Happy trading guys
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