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Cable Update (GBPUSD)

  • #6,341
  • Feb 19, 2007 12:37pm Feb 19, 2007 12:37pm
Quoting Jon Reed
What is the point of having two threads both dedicated to the analysis of the GBP/USD cable? Why don't we just keep all discussion to one thread or the other?
Bossy people over there. If you cannot say "shit" when your account is being ripped off what's the point of joining a forum?
  • #6,342
  • Feb 19, 2007 12:40pm Feb 19, 2007 12:40pm
Can I any body pls tell me whether gbp/usd is likely going north side or downside?
With patience and discipline,you move beyond the sky
  • #6,343
  • Feb 19, 2007 12:44pm Feb 19, 2007 12:44pm
To biodunola07

man read my the post I made...

My 15 l lots paid off I got out at the top well close exit was 1.9526 told you it would retrace.

In my opinion it is probably going to get stuck in the range we had earlier before the big news associated bearish move. Lets call that 1.9500 to 560 and we will probably see a break out next London session.

I am tipping it will be up but at the moment that is a guess based on little evidence. I will research when I wake up, pip tally for the day is 400 and more pips which is enough for 4 weeks.


Quoting Groovenator
Honestly guys the way Gold is looking and the way everything is looking i think we are in for an up trend.

The big move down was just an over reaction to a news release it was not technical the whole market was long on the Pound before that point. I am really confident we will see an upside reversal and it will continue in the direction it was headed.

I was long 15 lots and as soon as I read that report I took out 15 lots and threw in 5 on a short and accumulated over 200 pips.

Right now I am really considering entering my 15 lots again in a long position.

By the way inflation is not exactly low it is just lower... Anyway more analysis is needed I will look into the devloping situation.
  • #6,344
  • Feb 19, 2007 12:47pm Feb 19, 2007 12:47pm
Quoting biodunola07
Can I any body pls tell me whether gbp/usd is likely going north side or downside?
Imo it's only retracing its recent rally, after that it'll continue the uptrend. Disclaimer: Just my opinion.
Tra-X
  • #6,345
  • Feb 19, 2007 12:53pm Feb 19, 2007 12:53pm
Well yeh that's what i think fundamentally it was set to shoot up but we had that report released the screwed everything so now it is still going up.

Disclaimer: I still need to do research but first I need to sleep.
  • #6,346
  • Edited 2:01pm Feb 19, 2007 1:51pm | Edited 2:01pm
4hour chart...curently pivoting exactly @ 38.2 january low/high ...
its just money
  • #6,347
  • Feb 19, 2007 2:52pm Feb 19, 2007 2:52pm
Quoting cesarnc
Bossy people over there. If you cannot say "shit" when your account is being ripped off what's the point of joining a forum?
Actually I would describe it like this -

That thread is "mild" and this thread is "wild"!!!

If your saying "S..." because your account is being ripped off, you should be saying "S..." because you ripped yourself off by making a "B.. S..." trade. LOL
  • #6,348
  • Feb 19, 2007 2:57pm Feb 19, 2007 2:57pm
Quoting N2FX
Actually I would describe it like this -

That thread is "mild" and this thread is "wild"!!!

If your saying "S..." because your account is being ripped off, you should be saying "S..." because you ripped yourself off by making a "B.. S..." trade. LOL
  • #6,349
  • Feb 19, 2007 3:12pm Feb 19, 2007 3:12pm
got out of remainder of position at 9512 - will wait for more definative signal.
Man who scratches ass should not bite fingernails
  • #6,350
  • Feb 19, 2007 7:39pm Feb 19, 2007 7:39pm
The .9500 level is key right now in the short term view. Apart from the psychological aspect, the pivot for today is right on it, as well as the 50% retracement from the today's move up. Unless that level is breached, there is no sense in shorting it right now. What do you think?
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  • #6,351
  • Feb 19, 2007 7:42pm Feb 19, 2007 7:42pm
that is true, but if you were to put a long order in, there is resistance right above that level right? I think theres a good chance its going to be stuck in that channel until the london open tomorrow morning. good luck in your trading.
I dream, therefore I become.
  • #6,352
  • Feb 19, 2007 8:04pm Feb 19, 2007 8:04pm
Quoting mike w
that is true, but if you were to put a long order in, there is resistance right above that level right? I think theres a good chance its going to be stuck in that channel until the london open tomorrow morning. good luck in your trading.
You're certainly right, it needs to break out of the channel first. Good luck to u too
  • #6,353
  • Feb 19, 2007 8:08pm Feb 19, 2007 8:08pm
It just hit the top of your channel. I personally have to see a break above 1.9565 before going LONG. I would like to see a break below 1.9490 before SHORTING.Currently we have yet another gap between 1.9517 and 1.9524 (MT4 chart). Good luck to all!
Show me the PIPS!
  • #6,354
  • Feb 19, 2007 8:17pm Feb 19, 2007 8:17pm
Quoting tathlynq
It just hit the top of your channel. I personally have to see a break above 1.9565 before going LONG. I would like to see a break below 1.9490 before SHORTING.Currently we have yet another gap between 1.9517 and 1.9524 (MT4 chart). Good luck to all!
Yes, I see what you are saying.. the level 9560-9580 seems to be key right now
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  • #6,355
  • Feb 19, 2007 8:19pm Feb 19, 2007 8:19pm
Just entered a small short at 1.9540

TP only for 1.9510

The day is still young.
  • #6,356
  • Edited 8:59pm Feb 19, 2007 8:21pm | Edited 8:59pm
....and I thought I was the only one tempted to pull the trigger SHORT! *LOL* Gotta stick to my guns though and wait! Good luck! 1.9546 resistance .
Show me the PIPS!
  • #6,357
  • Feb 19, 2007 8:33pm Feb 19, 2007 8:33pm
Quoting henrycarol
Just entered a small short at 1.9540

TP only for 1.9510

The day is still young.
Care to share some of your analysis behind that short? Id appreciate that. thanks
  • #6,358
  • Feb 19, 2007 9:40pm Feb 19, 2007 9:40pm
I am long since 9517 cant see anything suggesting a short.
  • #6,359
  • Edited 10:17pm Feb 19, 2007 9:46pm | Edited 10:17pm
I do believe some are just trying to scalp some short term SHORT plays which could possibly unfold. There is some minor resistance at 1.9546. It is very possible to see a test of the pivot or even a lower support area before continuing LONG. There still has to be a break above 1.9565 for the BULLS to run!

**UPDATE** GBP/USD on it's 3rd attempt to break the 1.9546 level on the 1 HR chart.
Show me the PIPS!
  • #6,360
  • Feb 19, 2007 10:57pm Feb 19, 2007 10:57pm
Quoting tathlynq
**UPDATE** GBP/USD on it's 3rd attempt to break the 1.9546 level on the 1 HR chart.
Yep. It's at the 200 ma.
Is your SL my TP?
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