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Cable Update (GBPUSD)

  • #116,121
  • Jan 29, 2009 6:23am Jan 29, 2009 6:23am
Quoting blurrcow
Just shorted at 4303... Let us see!
How close is yor SL?
  • #116,122
  • Jan 29, 2009 6:24am Jan 29, 2009 6:24am
Quoting pepper
Hi there,whats the "best trade signal"?
Using slow stoc's on 5,5,5 pks. Look at your DAILY Chart and when you see a point differential between current market price and moving avgerage price greater than 20 pts. its a momentum move. That will cause a major break to directional side to break channel trend or 10 sma pivot 90% of time.
  • #116,123
  • Jan 29, 2009 6:24am Jan 29, 2009 6:24am
Quoting 137
how far could this drop?
i think the question should be how far can this go up!..its looking like we tested the support on monthly to it sprung up....

4hr chart also produced a higher low..looks like i might get stopped out here
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  • #116,124
  • Jan 29, 2009 6:25am Jan 29, 2009 6:25am
Quoting manize
Join short team !!!!!!!!!
Hola! I'm out now...

Happy green pips brotha!

my hand is Safe now
  • #116,125
  • Jan 29, 2009 6:26am Jan 29, 2009 6:26am
Quoting Professor4x
Sorry what is thread hijacker? Unsubtantiated??? Do you want my qualifications to post on a thread?
Trade without stoploss I understand that.
GELORE
  • #116,126
  • Jan 29, 2009 6:26am Jan 29, 2009 6:26am
Quoting fx local
LONDON, Jan 29 (Reuters) - Sterling rose sharply to a session high versus the euro, taking the euro/sterling pair under 92 pence on Thursday, with traders citing a a large selling order from a UK bank.
By 1022 GMT, the euro had fallen 0.6 percent on the day to 91.90 pence, having earlier hit a session low of 91.81 -- it's lowest in nine days . Euro/sterling selling also helped the pound erase early losses against the dollar to last stand at $1.4197 .
Dealers in London cited a large euro/sterling sell order but said the move was exacerbated by...
Any idea which UK bank this is ?? If this is an unwinding of a BIG long EUR position - ie from the levels of .96xx upwards, I would imagine a BIG BIG BIG loss on their books...

Might be worth a punt (short) on the stock if we knew which bank...
  • #116,127
  • Jan 29, 2009 6:28am Jan 29, 2009 6:28am
Quoting Professor4x
Sorry what is thread hijacker? Unsubtantiated??? Do you want my qualifications to post on a thread?
Yeah, it would be nice to see what makes someone say stuff like "90% probability trade", "easy peasy", as well as what gives you the idea that you have the altitude to school us, lowly retail FX worms.
  • #116,128
  • Jan 29, 2009 6:29am Jan 29, 2009 6:29am
Quoting nAVIN2007
i think the question should be how far can this go up!..
haha yeah you might be right! sometimes it seems like there's no such thing as 'overbought' or 'oversold'...
change the future, not the past
  • #116,129
  • Jan 29, 2009 6:31am Jan 29, 2009 6:31am
Quoting Professor4x
Using slow stoc's on 5,5,5 pks. Look at your DAILY Chart and when you see a point differential between current market price and moving avgerage price greater than 20 pts. its a momentum move. That will cause a major break to directional side to break channel trend or 10 sma pivot 90% of time.
Still Abra Cadabra for me explain in details thnx prof
  • #116,130
  • Jan 29, 2009 6:31am Jan 29, 2009 6:31am
Quoting nAVIN2007
i think the question should be how far can this go up!..its looking like we tested the support on monthly to it sprung up....

4hr chart also produced a higher low..looks like i might get stopped out here
Agreed its not looking good for shorts, im keeping my short for now I will close and look to re enter long at 4240 and 4160
  • #116,131
  • Jan 29, 2009 6:31am Jan 29, 2009 6:31am
i have a pending sell limit at 1.4374...
it's the R1, and the high of yesterday...
i think minimum we can get 20 pips from that...
but remember that i'm only a newbie...
Money management is good for your health...
  • #116,132
  • Jan 29, 2009 6:31am Jan 29, 2009 6:31am
Quoting 137
how far could this drop?
We know that this is ONE UK Bank that is unwinding... I hope there are MORE UK banks doing the same, becos that could mean potential losses... if that is true, and it hits their bottom line... it will be interesting come reporting time..

I don't see how much higher this could go... but I will make sure I can hold on to this position....

I just love this shorting opportunity - giving me a 2nd bite of the cherry on the same day !!
  • #116,133
  • Jan 29, 2009 6:32am Jan 29, 2009 6:32am
Quoting PipLand
Agreed its not looking good for shorts, im keeping my short for now I will close and look to re enter long at 4240 and 4160
Thats if the trendline holds ofcourse its getting assualted at the moment

If we break the trend line I will look for longs past 4380
  • #116,134
  • Jan 29, 2009 6:32am Jan 29, 2009 6:32am
Quoting biax
Hola! I'm out now...

Happy green pips brotha!

my hand is Safe now
Just closed my short +25 pips. Do scalp, back to my basic strategy using M1 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #116,135
  • Jan 29, 2009 6:32am Jan 29, 2009 6:32am
Quoting Subdude
Yeah, it would be nice to see what makes someone say stuff like "90% probability trade", "easy peasy", as well as what gives you the idea that you have the altitude to school us, lowly retail FX worms.

LOL Sounds like he's loosing time here... whit us...
  • #116,136
  • Jan 29, 2009 6:35am Jan 29, 2009 6:35am
Quoting nAVIN2007
i think the question should be how far can this go up!..its looking like we tested the support on monthly to it sprung up....

4hr chart also produced a higher low..looks like i might get stopped out here
Hey Nav, how could you ignore that mother of a 4H bullish engulfing candle off a round number, 1.4100?
  • #116,137
  • Jan 29, 2009 6:36am Jan 29, 2009 6:36am
Quoting blurrcow
Any idea which UK bank this is ?? If this is an unwinding of a BIG long EUR position - ie from the levels of .96xx upwards, I would imagine a BIG BIG BIG loss on their books...

Might be worth a punt (short) on the stock if we knew which bank...
Better reasons to short individual banks. "I would imagine" - not a good trading strategy, friend.

Even if you knew which bank, there is no way of knowing for certain whether it's an unwinding of long position, or a fresh short position, for a client or for their own account. Also, given we have no idea of the size, you cannot possibly quantify on a potential loss, if any.

This sort of information posted by FXLocal is useful for getting understanding of short-term directional pressures in the market.
  • #116,138
  • Jan 29, 2009 6:37am Jan 29, 2009 6:37am
I'm holding out until after the news before deciding on a direction. It looks uncertain to be short or long after today's price movements.
"The trend is your friend, until the end."
  • #116,139
  • Jan 29, 2009 6:38am Jan 29, 2009 6:38am
Quoting manize
Just closed my short +25 pips. Do scalp, back to my basic strategy using M1 !
Sure! I love M1 charting, it's very Realtime Market...
  • #116,140
  • Jan 29, 2009 6:39am Jan 29, 2009 6:39am
long GU, do you follow me ?
Give me patience
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