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Cable Update (GBPUSD)

  • #101,281
  • Nov 26, 2008 6:15am Nov 26, 2008 6:15am
well im starting to think that we will range for few days now...
When life gives you lemons, make lemonade
  • #101,282
  • Nov 26, 2008 6:18am Nov 26, 2008 6:18am
Quoting sonicdeejay
ya...sickening...
930 Am we have news....Scary


Sonic
What time base bro ?
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #101,283
  • Nov 26, 2008 6:20am Nov 26, 2008 6:20am
With the futures pointing downward and a few potential bad news items on the calendar for the US morning and the the fact that the Indices have had 3 days of gains I am inclined to believe that we may be in for a tough day for the fragile stocks if the news is bad. This is a nice level for a long and very nice for a short if it gets thru the resistance level so my trigger finger will hover on the short or stay out until the news.
.
Quoting PowerTrader
I think you nailed it. The markets are down a little everywhere and the Dow Futures are already down 50 points. The way the Forex markets have been following the Stock markets may be what we are seeing at this time. Just a thought.
Ride the Bulls bearback!
  • #101,284
  • Nov 26, 2008 6:24am Nov 26, 2008 6:24am
Quoting micho
sideways sucks
I quite enjoy a sidewinder!
Keep It Simple Stupid
  • #101,285
  • Nov 26, 2008 6:38am Nov 26, 2008 6:38am
5300 now.I have new targets 5240,5200
  • #101,286
  • Nov 26, 2008 6:40am Nov 26, 2008 6:40am
5185 in the end
  • #101,287
  • Nov 26, 2008 6:42am Nov 26, 2008 6:42am
Quoting "expert"
5300 now.I have new targets 5240,5200
5200, sitting on that bus stop and waiting...
  • #101,288
  • Nov 26, 2008 6:45am Nov 26, 2008 6:45am
Was looking for profit taking in the U.S. stock market yesterday before close. Looks like it will happen today.

last candle closed below the TL on the 1h...Tried a long earlier on the bounce off 5300 but stopped out at +5.

If there is a rally up after the news then I am thinking to sell it.

It might be a Magic Bus!
  • #101,289
  • Nov 26, 2008 6:51am Nov 26, 2008 6:51am
Quoting Vourvoul
5200, sitting on that bus stop and waiting...

same
  • #101,290
  • Nov 26, 2008 6:52am Nov 26, 2008 6:52am
Well if its a range of 300pips that's fine.

Quoting micho
well im starting to think that we will range for few days now...
Ride the Bulls bearback!
  • #101,291
  • Nov 26, 2008 6:53am Nov 26, 2008 6:53am
Quoting nAVIN2007
same
explain please?
are you sitting waitnig for a small rise up to short or you waiting for it to get to 5200 to long?
Keep It Simple Stupid
  • #101,292
  • Nov 26, 2008 6:54am Nov 26, 2008 6:54am
I took a quick short here at 1.5289 as you can see on my chart, but it will be a scalp for now because of news. Sorry I did not call it first but I am sure many of you were already short and I did not have time.
Attached Image (click to enlarge)
Click to Enlarge Name: cabletoday15min2.gif Size: 21 KB
Zone Breakout Method
  • #101,293
  • Nov 26, 2008 6:58am Nov 26, 2008 6:58am
A simple chart talks a thousand words. Simple trading rocks
Attached Image (click to enlarge)
Click to Enlarge Name: gbo_usd_h1_tls_261108.jpg Size: 106 KB
  • #101,294
  • Nov 26, 2008 7:00am Nov 26, 2008 7:00am
I went in at the same level as I was away. There is often a surge spike just before the news and I hoping that that in this case it will be a southerly one in which case I will withdraw on the news if we are still clear of this level.

Quoting PowerTrader
I took a quick short here at 1.5289 as you can see on my chart, but it will be a scalp for now because of news. Sorry I did not call it first but I am sure many of you were already short and I did not have time.
Ride the Bulls bearback!
  • #101,295
  • Nov 26, 2008 7:02am Nov 26, 2008 7:02am
Looks like you have trapped her in your web. It can only go somewhere from there...

Quoting belekas
A simple chart talks a thousand words. Simple trading rocks
Ride the Bulls bearback!
  • #101,296
  • Nov 26, 2008 7:05am Nov 26, 2008 7:05am
Quoting alcando
I went in at the same level as I was away. There is often a surge spike just before the news and I hoping that that in this case it will be a southerly one in which case I will withdraw on the news if we are still clear of this level.
I closed that position at 1.5265.
Zone Breakout Method
  • #101,297
  • Nov 26, 2008 7:06am Nov 26, 2008 7:06am
Quoting alcando
Looks like you have trapped her in your web. It can only go somewhere from there...
I let price show me the path and guide me thru the jungle of repeating patterns owa and owa again
  • #101,298
  • Nov 26, 2008 7:06am Nov 26, 2008 7:06am
Quoting Alastair
explain please?
are you sitting waitnig for a small rise up to short or you waiting for it to get to 5200 to long?
im actually thinking of buying this...waiting for it to reach the 61.8 area to see what happens there....
  • #101,299
  • Nov 26, 2008 7:10am Nov 26, 2008 7:10am
Quoting nAVIN2007
im actually thinking of buying this...waiting for it to reach the 61.8 area to see what happens there....

I think that could be a very good call. It will be very interesting to see if bad news hurts the dollar or helps this time. Providing the news is bad. But I agree the 61.8 would be a great area to turn if it is going to do so.
Zone Breakout Method
  • #101,300
  • Nov 26, 2008 7:12am Nov 26, 2008 7:12am
Quoting nAVIN2007
im actually thinking of buying this...waiting for it to reach the 61.8 area to see what happens there....
is that around 1.5200?
Keep It Simple Stupid
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