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Cable Update (GBPUSD)

  • #109,661
  • Jan 7, 2009 7:44am Jan 7, 2009 7:44am
Quoting PipLand
yeah im convinced they do this, the move always seems to start before the news these days
also can be they sweapt away those who went short selling the big high. no offence to anyone.
  • #109,662
  • Jan 7, 2009 7:45am Jan 7, 2009 7:45am
Quoting fx local
me, i just covered good size of my long!!!
Good for you
  • #109,663
  • Jan 7, 2009 7:45am Jan 7, 2009 7:45am
This pair is being driven up by insanity, end of story.
  • #109,664
  • Jan 7, 2009 7:45am Jan 7, 2009 7:45am
hm...Big question... the main trend is still down for this pair, right?
  • #109,665
  • Jan 7, 2009 7:48am Jan 7, 2009 7:48am
Quoting Abuawad
Who is laughing now

Me still cause it hit righ off the resistance i was talking about at 5118.

So im still in the trade and still laughing.

thanks for the laugh.
  • #109,666
  • Jan 7, 2009 7:51am Jan 7, 2009 7:51am
Quoting vorschlag
also can be they sweapt away those who went short selling the big high. no offence to anyone.
yeah and it looks like commercial buying as well, nice smooth and consistant
  • #109,667
  • Jan 7, 2009 7:52am Jan 7, 2009 7:52am
Let's see what happens in 24 hours... what are your predictions?
  • #109,668
  • Jan 7, 2009 7:53am Jan 7, 2009 7:53am
im closed out now didnt like the last 15min candle or price action now
  • #109,669
  • Jan 7, 2009 7:57am Jan 7, 2009 7:57am
The pound is riding dollar weakness. I still believe that the weakness of the British economy will reverse this two day rally by the pound, but currently I'm proven wrong
  • #109,670
  • Jan 7, 2009 7:59am Jan 7, 2009 7:59am
Quoting vorschlag
from my unprofessional view its another trap for shorts. sell and be the counterparty.
i took a small short at 5089 well see your prob right
  • #109,671
  • Jan 7, 2009 7:59am Jan 7, 2009 7:59am
Quoting Subdude
This pair is being driven up by insanity, end of story.
youre right 100%.But its insanity thats Spewing pips.
  • #109,672
  • Jan 7, 2009 8:01am Jan 7, 2009 8:01am
Quoting vorschlag
from my unprofessional view its another trap for shorts. sell and be the counterparty.

yes, i agree:

the daily range is 324 for today and we are on the high side of that since early today

the weekly range is 700 and we are 5% from the high

even if you think the market is going up higher, there will be a retracement - so dont be going long now...let it drop 100 - 200 pips first

i just went short a few minutes ago @ 5092
  • #109,673
  • Jan 7, 2009 8:02am Jan 7, 2009 8:02am
Quoting PipLand
i took a small short at 5089 well see your prob right
me too. thought not a bad setup appeared after my previous post.
  • #109,674
  • Jan 7, 2009 8:02am Jan 7, 2009 8:02am
short Now!

or You Will Lose Your Money
  • #109,675
  • Jan 7, 2009 8:03am Jan 7, 2009 8:03am
Quoting steelhead
Me still cause it hit righ off the resistance i was talking about at 5118.

So im still in the trade and still laughing.

thanks for the laugh.
You da man.I closed my long at 510.was going to wait for 150ish but setup seemed too good.
  • #109,676
  • Jan 7, 2009 8:04am Jan 7, 2009 8:04am
right, it appears to be on the way back down, at least for now.

I honestly cannot see this upward movement lasting- though I could of course be wrong.

I think it's a trap before the last final push down, and then the real recovery will begin. Hopefully they will cut rates like crazy tomorrow and it will send it off back down again.
  • #109,677
  • Jan 7, 2009 8:07am Jan 7, 2009 8:07am
This PA is eerily similar to yesterday when it began to consolidate.
  • #109,678
  • Jan 7, 2009 8:11am Jan 7, 2009 8:11am
Quoting spintrader
right, it appears to be on the way back down, at least for now.

I honestly cannot see this upward movement lasting- though I could of course be wrong.

I think it's a trap before the last final push down, and then the real recovery will begin. Hopefully they will cut rates like crazy tomorrow and it will send it off back down again.
exactly what i was thinking
  • #109,679
  • Jan 7, 2009 8:14am Jan 7, 2009 8:14am
Quoting trader2160
You da man.I closed my long at 510.was going to wait for 150ish but setup seemed too good.


Im still laughing. I like laughing it is good for your health
  • #109,680
  • Jan 7, 2009 8:14am Jan 7, 2009 8:14am
so still holding long anyone?
i stop half of my trade
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