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Cable Update (GBPUSD)

  • #95,501
  • Nov 4, 2008 10:36am Nov 4, 2008 10:36am
Dow Jones is bouncing 9580 S and 9622 R
  • #95,502
  • Nov 4, 2008 10:41am Nov 4, 2008 10:41am
This baby is lagging behind EU by more than 100 pips
  • #95,503
  • Nov 4, 2008 10:43am Nov 4, 2008 10:43am
Quoting manize
Thinking long now !
Enter long around 1.6060 is a good entry i think
  • #95,504
  • Nov 4, 2008 10:44am Nov 4, 2008 10:44am
Quoting gagakrimba
Enter long around 1.6060 is a good entry i think
u might regret that....bears are fightning back
  • #95,505
  • Nov 4, 2008 10:48am Nov 4, 2008 10:48am
Quoting nAVIN2007
u might regret that....bears are fightning back
I hope not
Anyway....I have 5 entries since 1.6150
  • #95,506
  • Nov 4, 2008 10:54am Nov 4, 2008 10:54am
It will be nice if this baby can go all the way to R3.
It is above pivot now
  • #95,507
  • Nov 4, 2008 11:03am Nov 4, 2008 11:03am
I am still long.In 57minutes 4 hr candle is closing.After that retrace might be but...

don't ask me whay i think we need to test 6111 again.any way if i go short it will be tommorow maybe.Againt don't ask me why.

That was almost 300 pips ride on up so i want to take every pip on up and no need to go down yet.If all of this because of election they are not over so..

On 4h indicators are so close to break 0level so maybe it be small break .but after some retrace more up i see for now.We will se tommorow.
  • #95,508
  • Nov 4, 2008 11:11am Nov 4, 2008 11:11am
Why is it so difficult for this baby to penetrate 1.61 ?
  • #95,509
  • Nov 4, 2008 11:17am Nov 4, 2008 11:17am
Quoting gagakrimba
Why is it so difficult for this baby to penetrate 1.61 ?
dont worry it will....needs patience
hehe
  • #95,510
  • Nov 4, 2008 11:21am Nov 4, 2008 11:21am
well, well..seems like it moved. A LOT! lol.

How are you guys doin? Looks like ya'll are banking.

Anybody voted? I stood in line for 2 hrs to vote, Im tired already! LOL.

No Pips yet for me till today! YET!
  • #95,511
  • Nov 4, 2008 11:22am Nov 4, 2008 11:22am
oil overbought
gold overbought
double top on sp500
nasdaq near R
DJ ranging

Waiting for extension or correction...
  • #95,512
  • Nov 4, 2008 11:27am Nov 4, 2008 11:27am
hey people, which way is cable going to go if either McCain or Obama get in, or is it going to stay put?

I guess if McCain gets in the $ will weaken, but if Obama gets in it may not react too much. I don't know. What do some of you from the other side of the pond reckon?
please DON'T copy my trades I am still learning
  • #95,513
  • Nov 4, 2008 11:29am Nov 4, 2008 11:29am
Quoting gagakrimba
Why is it so difficult for this baby to penetrate 1.61 ?
Because we are in the middle of an aggressive down trend.
I'm not saying don't ever go long and never trade the retracements,
but be careful, and don't hang too much hope on it continuing up for long periods of time.
Especially given that there are important rates decisions this week.

The way I see it, these moments are too risky to go long, unless you are very careful and have a lot of confidence. Get in and out quick, and use a trailing stoploss.
They are however good opportunities to build up short positions.
And I emphasize short once again, because we are in a strong downtrend.

Hope that makes sense (I'm starting to sound a bit like tiger hunter I know)
  • #95,514
  • Nov 4, 2008 11:33am Nov 4, 2008 11:33am
Quoting spintrader
Because we are in the middle of an aggressive down trend.
I'm not saying don't ever go long and never trade the retracements,
but be careful, and don't hang too much hope on it continuing up for long periods of time.
Especially given that there are important rates decisions this week.

The way I see it, these moments are too risky to go long, unless you are very careful and have a lot of confidence. Get in and out quick, and use a trailing stoploss.
They are however good opportunities to build up short positions.
And I emphasize short once again, because we are in a strong downtrend.

Hope that makes sense (I'm starting to sound a bit like tiger hunter I know)
u read my mind...
looking at the wekly thou......its not looking very strong that we will see a new low..but like u say u cant bet against the trend especially as nothing really has changed..
  • #95,515
  • Nov 4, 2008 11:39am Nov 4, 2008 11:39am
today im -4
When life gives you lemons, make lemonade
  • #95,516
  • Nov 4, 2008 11:41am Nov 4, 2008 11:41am
Quoting nAVIN2007
u read my mind...
looking at the wekly thou......its not looking very strong that we will see a new low..but like u say u cant bet against the trend especially as nothing really has changed..
Glad I got through to someone buddy,
it just seems to me like people are far too eager to get on the long train at the moment.
It's like people have forgotten a couple of weeks back when it broke through 1.6 and sunk to 1.52 in the space of a few hours.
I expect it to revisit those lows at the very least.
If it reaches 1.4 or lower, then I'll be very happy (and absolutely loaded)
I've been building my short since 1.65, just like I did a couple of weeks back when it hit the 1.52 low.
  • #95,517
  • Nov 4, 2008 11:47am Nov 4, 2008 11:47am
Quoting spintrader
Glad I got through to someone buddy,
it just seems to me like people are far too eager to get on the long train at the moment.
It's like people have forgotten a couple of weeks back when it broke through 1.6 and sunk to 1.52 in the space of a few hours.
I expect it to revisit those lows at the very least.
If it reaches 1.4 or lower, then I'll be very happy (and absolutely loaded)
I've been building my short since 1.65, just like I did a couple of weeks back when it hit the 1.52 low.
this downtrend has put a end to my counter trend days....i hear yah
  • #95,518
  • Nov 4, 2008 11:49am Nov 4, 2008 11:49am
Attached Image
When life gives you lemons, make lemonade
  • #95,519
  • Nov 4, 2008 11:51am Nov 4, 2008 11:51am
Quoting micho
GELORE
  • #95,520
  • Nov 4, 2008 11:52am Nov 4, 2008 11:52am
Quoting micho
Is that a bull or a bear?!

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Dj have broke S and boucing up to it....
Oil retracing slowly
As gold....
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