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Cable Update (GBPUSD)

  • #83,961
  • Aug 25, 2008 10:59am Aug 25, 2008 10:59am
Quoting eohater
Did you secure profit?
nmope i didnt secure profit it would have hit the stop loss now it shoot up...this market is crazy makes no sense to me at all ..i closed the position 60 pips down..
  • #83,962
  • Aug 25, 2008 11:13am Aug 25, 2008 11:13am
Here's what i see...

The green line is the 150sma which for the past few weeks price usually touches and then drops.

I shorted it but it blew right past the 15 minute 150sma for a 26 pip loser for me.

But it seems to have stayed in this channel so who knows..
Attached Image (click to enlarge)
Click to Enlarge Name: 150sma channel.gif Size: 38 KB
  • #83,963
  • Aug 25, 2008 11:15am Aug 25, 2008 11:15am
This trading makes no sense!!! Channel is in uptrend now? Bizarre
  • #83,964
  • Aug 25, 2008 11:18am Aug 25, 2008 11:18am
Quoting seesaw
This trading makes no sense!!! Channel is in uptrend now? Bizarre
That's what it looks like to me on the 15 minute chart. I'm not sure if I drew that channel properly someone correct me if I'm wrong.
  • #83,965
  • Aug 25, 2008 11:19am Aug 25, 2008 11:19am
Quoting scott087
Here's what i see...

The green line is the 150sma which for the past few weeks price usually touches and then drops.

I shorted it but it blew right past the 15 minute 150sma for a 26 pip loser for me.

But it seems to have stayed in this channel so who knows..
well for me i exited cause it passed the 62ema and i thinking its testing it now and now further up.....also the dollar index broke the blasted support..and after news comes in positive..it makes no sense this is gambling right now for me
Attached Image (click to enlarge)
Click to Enlarge Name: picturebmp.JPG Size: 130 KB
  • #83,966
  • Aug 25, 2008 11:26am Aug 25, 2008 11:26am
Just curious, is there any reason why you use the 62 ema?
  • #83,967
  • Aug 25, 2008 11:31am Aug 25, 2008 11:31am
Quoting scott087
Just curious, is there any reason why you use the 62 ema?
on the 1 hr chart that ema is so respected ...give it try u wont be sorry.
  • #83,968
  • Aug 25, 2008 11:44am Aug 25, 2008 11:44am
I'm happy with my +30 pips again as i entered at 1.8526 LONG.. Hope everyone made good pips on it also as it was clear that gbp/usd was going upwards for at least that amount of pips.. Happy trading everyone.
  • #83,969
  • Aug 25, 2008 11:46am Aug 25, 2008 11:46am
Quoting Forextrader4
I'm happy with my +30 pips again as i entered at 1.8526 LONG.. Hope everyone made good pips on it also as it was clear that gbp/usd was going upwards for at least that amount of pips.. Happy trading everyone.

Just qurious.

Do you think now is going for 1.840 mark?

I think it is.

Have a nice day
I am back. Actually, I never left...
  • #83,970
  • Aug 25, 2008 11:48am Aug 25, 2008 11:48am
Quoting taragula
Just qurious.

Do you think now is going for 1.840 mark?

I think it is.

Have a nice day
I don't think it will reach that level as the 1hr and 4hr chart trend is UP now..
  • #83,971
  • Aug 25, 2008 11:48am Aug 25, 2008 11:48am
Quoting nAVIN2007
nmope i didnt secure profit it would have hit the stop loss now it shoot up...this market is crazy makes no sense to me at all ..i closed the position 60 pips down..
damn bro...I'm sorry!
Just digging in the trenches like everyone else!
  • #83,972
  • Aug 25, 2008 11:52am Aug 25, 2008 11:52am
Hey Nav it wasn't all positive you got to be careful just looking at the headline figure.

Good and Bad News on Housing Front, USD Flat New York, August 25. There has been a tiny bounce in USD/CHF since the US Existing Home Sales report, as traders react to the higher headline sales rate up 3.1% to 5.00mln vs the 4.92m forecast and a revised 4.85mln previous. That was the good news. The bad news is that even with the rebound in sales, the supply of homes for sale inched up to 11.2 months (a record high) from 11.1 in June and the median price of homes being sold fell to $212,400 in July from $215,100 in June. With the number of homes being sold out of foreclosure rising, the overall sales rate is increasing while prices are falling. This is part of the rebalancing process that must occur before the housing market stabilizes and the financial markets stabilize as a result. The problem is that mortgage rates have been rising this year as the markets more properly price in the risk of making such loans, unlike the during years of ridiculously loose lending that landed the US economy where it is now. Also being priced out to some extent is the ability of Freddie and Fannie to undercut non-GSE lenders as their fate remains very much in jeopardy.
Oversold hourlies hint that USD/CHF may be able to hold the current 1.0950 lows, Even if they are broken, bids in the 1.0900-10 range will likely suffice. 1.0970 is the immediate upside hurdle, with 1.1040 the key pivot point. [email protected]



Quoting nAVIN2007
well for me i exited cause it passed the 62ema and i thinking its testing it now and now further up.....also the dollar index broke the blasted support..and after news comes in positive..it makes no sense this is gambling right now for me
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #83,973
  • Aug 25, 2008 11:55am Aug 25, 2008 11:55am
First short signal of the day lets see where it goes

entry 58
s/l 87
t/p ?
  • #83,974
  • Aug 25, 2008 11:56am Aug 25, 2008 11:56am
Quoting Forextrader4
I'm happy with my +30 pips again as i entered at 1.8526 LONG.. Hope everyone made good pips on it also as it was clear that gbp/usd was going upwards for at least that amount of pips.. Happy trading everyone.
it wasnt clear the only reason why cable went up..is because there was a false breakout on dollar index....i dont want speak to soon but this appears to be the case
  • #83,975
  • Aug 25, 2008 11:59am Aug 25, 2008 11:59am
Quoting nAVIN2007
it wasnt clear the only reason why cable went up..is because there was a false breakout on dollar index....i dont want speak to soon but this appears to be the case
Where can I get a chart showing the dollar index?
Please ask questions and share your experiences with us all!
  • #83,976
  • Aug 25, 2008 12:01pm Aug 25, 2008 12:01pm
Quoting nAVIN2007
it wasnt clear the only reason why cable went up..is because there was a false breakout on dollar index....i dont want speak to soon but this appears to be the case
What is the verdict now guys....is GU going to drop all the way back to 1.840X ??
  • #83,977
  • Aug 25, 2008 12:02pm Aug 25, 2008 12:02pm
Quoting Bones
Hey Nav it wasn't all positive you got to be careful just looking at the headline figure.

Good and Bad News on Housing Front, USD Flat New York, August 25. There has been a tiny bounce in USD/CHF since the US Existing Home Sales report, as traders react to the higher headline sales rate up 3.1% to 5.00mln vs the 4.92m forecast and a revised 4.85mln previous. That was the good news. The bad news is that even with the rebound in sales, the supply of homes for sale inched up to 11.2 months (a record high) from 11.1 in June and the median price of homes being sold fell to $212,400 in July from $215,100 in June. With the number of homes being sold out of foreclosure rising, the overall sales rate is increasing while prices are falling. This is part of the rebalancing process that must occur before the housing market stabilizes and the financial markets stabilize as a result. The problem is that mortgage rates have been rising this year as the markets more properly price in the risk of making such loans, unlike the during years of ridiculously loose lending that landed the US economy where it is now. Also being priced out to some extent is the ability of Freddie and Fannie to undercut non-GSE lenders as their fate remains very much in jeopardy.
Oversold hourlies hint that USD/CHF may be able to hold the current 1.0950 lows, Even if they are broken, bids in the 1.0900-10 range will likely suffice. 1.0970 is the immediate upside hurdle, with 1.1040 the key pivot point. [email protected]
thx man for the tip....
  • #83,978
  • Aug 25, 2008 12:02pm Aug 25, 2008 12:02pm
Quoting nAVIN2007
it wasnt clear the only reason why cable went up..is because there was a false breakout on dollar index....i dont want speak to soon but this appears to be the case
I only entered that trade long because of what i saw in 1hr and confirmed by 30min chart. I usually shoot for 30 pips so that was the case for the trade i took last night and again today....
  • #83,979
  • Aug 25, 2008 12:08pm Aug 25, 2008 12:08pm
Quoting txsr123
First short signal of the day lets see where it goes

entry 58
s/l 87
t/p ?

Well things moved very nicely so far. Moved S/l to Break even.
  • #83,980
  • Aug 25, 2008 12:08pm Aug 25, 2008 12:08pm
massive shampoos forming on both eu and gu ...
Patience + Discipline - Greed = Success
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