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Cable Update (GBPUSD)

  • #87,441
  • Sep 11, 2008 5:22pm Sep 11, 2008 5:22pm
Quoting Obaidah
Britain is entering a recession, so do you think a major reversal is possible before the end of this year?
I guess one can wishfully dream . We are overdue for a bounce sometime very soon, i think there is slight chance it could be on Friday with U.S Retail Sales due out later. We are also trading on DPP at the moment.
"The trend is your friend, until the end."
  • #87,442
  • Sep 11, 2008 6:04pm Sep 11, 2008 6:04pm
I would not get to excited about this move up.

Lehman Brothers investment bank was taken over and bailed out today.

I am thinking at 3pm eastern they squared up their longs, which caused that funny candal, and then closed all their shorts which ran it up above 7600.

moves like that just don't happen during late afternoon

any comments

  • #87,443
  • Sep 11, 2008 7:21pm Sep 11, 2008 7:21pm
Quoting torcuswelby
I would very much like to know why u think short tomorrow am

I think candle postions are leading nicely into a setup. Even though th outlook on upcomming news is not good for the US it didnt stop the cable from giving a nice drop this morning around 10EST to take some profit from a short. My trade will be determined by the closing candle leading into the GBP and EUR opens tomorrow morning. Anyone else seeing this or am I missing something? GL to all
Lets do this...
  • #87,444
  • Sep 11, 2008 7:22pm Sep 11, 2008 7:22pm
when I say take a short I mean possibly do it after the reports come out... late morning if you will haha. But it would have to be perfect. I'm not going in if it doesnt look perfect... we all know what can happen when the weekend is over... clueless
Lets do this...
  • #87,445
  • Sep 11, 2008 8:01pm Sep 11, 2008 8:01pm
took a short on EUR/USD @ 3995
Lets do this...
  • #87,446
  • Sep 11, 2008 8:13pm Sep 11, 2008 8:13pm
cable has head and shoulders on m1, at least its the only signe available right now, a soft ride might begin now, im short
I recommend you read something else as this sentence is now concluded.
  • #87,447
  • Sep 11, 2008 8:16pm Sep 11, 2008 8:16pm
Quoting Obaidah
cable has head and shoulders on m1, at least its the only signe available right now, a soft ride might begin now, im short
whats your TP buddy?
Lets do this...
  • #87,448
  • Sep 11, 2008 8:18pm Sep 11, 2008 8:18pm
Quoting Obaidah
cable has head and shoulders on m1, at least its the only signe available right now, a soft ride might begin now, im short
trading using m1????
  • #87,449
  • Sep 11, 2008 8:22pm Sep 11, 2008 8:22pm
Quoting jcminvest
whats your TP buddy?
not able to decide yet
I recommend you read something else as this sentence is now concluded.
  • #87,450
  • Sep 11, 2008 8:26pm Sep 11, 2008 8:26pm
Ritz no trades for today?
I recommend you read something else as this sentence is now concluded.
  • #87,451
  • Sep 11, 2008 8:34pm Sep 11, 2008 8:34pm
anyone speculating what cable has in store tomorrow? think it will go back down to test support?
Lets do this...
  • #87,452
  • Sep 11, 2008 8:45pm Sep 11, 2008 8:45pm
Good Evening to all.

Jcminvest:

Yes, I am one that believes that cable will be testing support later tonight if not tomorrow.

I am currently holding a short position @ 1.7579 TP - 1.75 | SL - 1.7630
Losing is inevitable, the trick is not to make a habit of it !
  • #87,453
  • Sep 11, 2008 8:58pm Sep 11, 2008 8:58pm
I expect the channel resistance to hold and we're headed back down.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.JPG Size: 84 KB
Just digging in the trenches like everyone else!
  • #87,454
  • Sep 11, 2008 9:03pm Sep 11, 2008 9:03pm
Quoting eohater
I expect the channel resistance to hold and we're headed back down.
im looking for a second test of 1.7600 to form a double top then enter short with tight S/L but im not sure it gonna test it because its losing strength, what you think?
I recommend you read something else as this sentence is now concluded.
  • #87,455
  • Sep 11, 2008 9:07pm Sep 11, 2008 9:07pm
double top on 15m
I recommend you read something else as this sentence is now concluded.
  • #87,456
  • Sep 11, 2008 9:13pm Sep 11, 2008 9:13pm
good morning
  • #87,457
  • Sep 11, 2008 9:14pm Sep 11, 2008 9:14pm
Quoting pip me
good morning
good morning
I recommend you read something else as this sentence is now concluded.
  • #87,458
  • Sep 11, 2008 9:21pm Sep 11, 2008 9:21pm
Quoting Obaidah
im looking for a second test of 1.7600 to form a double top then enter short with tight S/L but im not sure it gonna test it because its losing strength, what you think?
I think it will test it and possible higher to 1.761x area. If we break 1.763x we're headed for 1.768x and possible right past that to 1.77
Just digging in the trenches like everyone else!
  • #87,459
  • Sep 11, 2008 9:24pm Sep 11, 2008 9:24pm
Quoting Obaidah
Ritz no trades for today?
im long 7571
tp 7610
  • #87,460
  • Sep 11, 2008 9:27pm Sep 11, 2008 9:27pm
Quoting Ritz
im long 7571
tp 7610
Short @ 1.7585
TP 1.7550
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