Cable Update (GBPUSD) | Page 5734 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #114,661
  • Jan 23, 2009 3:09pm Jan 23, 2009 3:09pm
Quoting eohater
Nope, she came close, within 2 pips, She's at 3793 on my broker's price. I think I'll dump her at BE should she get there.
Closed at 3775. I'm done. DAMN that was close. Ok, next week yields a new battle.

Our daily candle is going to be interesting.
Just digging in the trenches like everyone else!
  • #114,662
  • Jan 23, 2009 3:10pm Jan 23, 2009 3:10pm
Quoting eohater
Price action. Invaluable!!
Thank you.

Btw I am out now, no good ATM, my broker increases the spread by 12.

See next monday. Happy week end !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #114,663
  • Jan 23, 2009 3:11pm Jan 23, 2009 3:11pm
server are closing at?
  • #114,664
  • Jan 23, 2009 3:15pm Jan 23, 2009 3:15pm
Hi Guys, A word to the wise here. Be carefull with your shorts and I will give you 3 good reasons why. The first chart I posted is a Monthly chart and we have finally hit that .3681 level from back in July 2001. I would not be so wary except what I am seeing on the Daily chart is even more confirmation. 3 days in a row the price tried that 1.3681 level and was severely rejected. I am at a loss frankly that anyone can be thinking of holding shorts here. I am ready to carry this trade long. Lastly we see the 4 hour finishing the week with a morning star with a close above the immediate trendline. You guys can keep your shorts if you want, but be wary.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: jmt g-u twin hammers 1.gif Size: 21 KB
Click to Enlarge Name: jmt g-u twin hammers 2.gif Size: 25 KB
Click to Enlarge Name: jmt g-u twin hammers 3.gif Size: 18 KB
  • #114,665
  • Jan 23, 2009 3:16pm Jan 23, 2009 3:16pm
Quoting manize
Thank you.

Btw I am out now, no good ATM, my broker increases the spread by 12.

See next monday. Happy week end !
Good job today! Spread of 12 is robbery! Mine is at 2 right now.
Just digging in the trenches like everyone else!
  • #114,666
  • Jan 23, 2009 3:19pm Jan 23, 2009 3:19pm
Quoting hard1head1
Hi Guys, A word to the wise here. Be carefull with your shorts and I will give you 3 good reasons why. The first chart I posted is a Monthly chart and we have finally hit that .3681 level from back in July 2001. I would not be so wary except what I am seeing on the Daily chart is even more confirmation. 3 days in a row the price tried that 1.3681 level and was severely rejected. I am at a loss frankly that anyone can be thinking of holding shorts here. I am ready to carry this trade long. Lastly we see the 4 hour finishing the week with a...

I agree, holding shorts over the weekend is not a good idea. Just look at the last 3 daily candles. She goes down and keeps getting rejected. Like hard1head1 pointed out 3681 was broken, but we're closing above it again. Remember she moves both ways so I'm not saying go long now, but becareful!
Just digging in the trenches like everyone else!
  • #114,667
  • Jan 23, 2009 3:20pm Jan 23, 2009 3:20pm
I was killed today by the GBP/USD. Sad day for me. But I will come back. It's just a battle lost, not the war. Trading forex is like a war. I think I learned another lesson.
  • #114,668
  • Jan 23, 2009 3:22pm Jan 23, 2009 3:22pm
Quoting hard1head1
Hi Guys, A word to the wise here. Be carefull with your shorts and I will give you 3 good reasons why. The first chart I posted is a Monthly chart and we have finally hit that .3681 level from back in July 2001. I would not be so wary except what I am seeing on the Daily chart is even more confirmation. 3 days in a row the price tried that 1.3681 level and was severely rejected. I am at a loss frankly that anyone can be thinking of holding shorts here. I am ready to carry this trade long. Lastly we see the 4 hour finishing the week with a...
Great post....I see a bounce and then a continuation of the trek north.

My brokers price @ 3815 already, can't wait to see after hours price....

HOLLA
  • #114,669
  • Jan 23, 2009 3:25pm Jan 23, 2009 3:25pm
Quoting acedeno
I was killed today by the GBP/USD. Sad day for me. But I will come back. It's just a battle lost, not the war. Trading forex is like a war. I think I learned another lesson.
Sorry you had a bloody day! Hopefully you didn't blow your account up. Review what you did wrong this weekend and prepare your soldiers next week for good entries with controlled MM.
Just digging in the trenches like everyone else!
  • #114,670
  • Jan 23, 2009 3:36pm Jan 23, 2009 3:36pm
Chris_35, do you still have your long position open?
Just digging in the trenches like everyone else!
  • #114,671
  • Jan 23, 2009 7:47pm Jan 23, 2009 7:47pm
hi!

how do you see the pound move yesterday?

I went short on EurGbp, up 45 pips so far and sticking with a stop loss above the recent highs (0,9475).

I woke up this morning and noticed the Euro bounced up strongly.
Though EurGbp pair was still firm, I am asking myself what is the main reason for the events of this last Friday; Euro renewed strenght, Dollar down on profit taking, again Pound extremely oversold or maybe all of the above?

Your view and suggestions appreciated!
  • #114,672
  • Jan 23, 2009 9:47pm Jan 23, 2009 9:47pm
[quote=fammira;2490900]hi!

how do you see the pound move yesterday?

I went short on EurGbp, up 45 pips so far and sticking with a top loss above the recent highs (0,9475).


its the ECB intervention. EG came up slow except EU killed most traders,taking all their SLs ..GU however not really correlated in last action.
what a bad giving hello for the weekend
  • #114,673
  • Jan 23, 2009 9:53pm Jan 23, 2009 9:53pm
[quote=dunhill1907;2490956]
Quoting fammira
hi!

how do you see the pound move yesterday?

I went short on EurGbp, up 45 pips so far and sticking with a top loss above the recent highs (0,9475).


its the ECB intervention. EG came up slow except EU killed most traders,taking all their SLs ..GU however not really correlated in last action.
what a bad giving hello for the weekend
thanks, hope EG will also follow

do you expect the Euro to come back next week?
and the pound could bounce off his lows?
  • #114,674
  • Jan 23, 2009 10:14pm Jan 23, 2009 10:14pm
[quote=fammira;2490961]
Quoting dunhill1907

thanks, hope EG will also follow

do you expect the Euro to come back next week?
and the pound could bounce off his lows?
EU hasnt reach 1.26 yet in should the downsided trending prevail
Technically EG merely depends on consolidation with then trend continuation , go bounce up more ways before start to drop.

just an underdemiciated opinion of mine
good luck
  • #114,675
  • Jan 23, 2009 10:17pm Jan 23, 2009 10:17pm
[quote=dunhill1907;2490969]
Quoting fammira

EU hasnt reach 1.26 yet in should the downsided trending prevail
Technically EG merely depends on consolidation with then trend continuation , go bounce up more ways before start to drop.

just an underdemiciated opinion of mine
good luck
thank you!
same good luck to you my friend

I will be stopped if it rises above recent highs at 0,9475

but I want to play my penny on the pound here
  • #114,676
  • Jan 23, 2009 11:00pm Jan 23, 2009 11:00pm
Quoting eohater
Brother, I hope you've got this one covered. She's not coming down just yet.
i knew it was risky, but just couldn't resist.
i took a -20 pips on it.
no big. i'm still way up for the day so i'm good.
  • #114,677
  • Jan 23, 2009 11:02pm Jan 23, 2009 11:02pm
Quoting Turtle
Great post....I see a bounce and then a continuation of the trek north.

My brokers price @ 3815 already, can't wait to see after hours price....

HOLLA
xe.com saids at this moment - 1.3645!!!!!!

Somebody got some nice pips....

HOLLA
  • #114,678
  • Jan 23, 2009 11:05pm Jan 23, 2009 11:05pm
Quoting dakrusha
i knew it was risky, but just couldn't resist.
i took a -20 pips on it.
no big. i'm still way up for the day so i'm good.
I have been taken some small losses this week also
but I'm ended up in the plus for the week....I like that!!!

Good trading bro.......

HOLLA
  • #114,679
  • Jan 23, 2009 11:12pm Jan 23, 2009 11:12pm
Quoting fammira
hi!

how do you see the pound move yesterday?

I went short on EurGbp, up 45 pips so far and sticking with a stop loss above the recent highs (0,9475).

I woke up this morning and noticed the Euro bounced up strongly.
Though EurGbp pair was still firm, I am asking myself what is the main reason for the events of this last Friday; Euro renewed strenght, Dollar down on profit taking, again Pound extremely oversold or maybe all of the above?

Your view and suggestions appreciated!

The market can stay irrational longer than we can stay solvent. No point having opinions and trying to pick bottoms. I feel sorry for those that have been trying to pick bottoms since early this week. I bet atleast a few on FF lost it all in the past week. I met my quota for the month, thanks to the large moves!
  • #114,680
  • Jan 23, 2009 11:13pm Jan 23, 2009 11:13pm
I see another drop Sunday, as Asia needs to catch up with the "Broken Britain" developments of the past 24 hours. Perhaps not as low as 1.35 again, but the recent lows must be retested. And what would stop BOE from doing quantitative easing if the Fed has already started it?

I also don't see gold staying at $900 much longer - but that's just me. Disclosure: holding a small short from 1.3780 over the weekend.
472 traders viewing now, 3 are registered:
Shijirbaatar
,
bolivarfx
,
makeme