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Cable Update (GBPUSD)

  • #117,021
  • Feb 2, 2009 7:45am Feb 2, 2009 7:45am
Abuawad are you there?

i lost that trade by just 10pips to hit my TP.. and it revised to cut me out at -50 pips

i entered @ 1.4210, my tp @ 1.4260...and sl @ 1.4160..i lost it due...will fight another day
  • #117,022
  • Feb 2, 2009 7:47am Feb 2, 2009 7:47am
looks like consolidation before further drop to me ... cant see longs here .. but thats just me
  • #117,023
  • Feb 2, 2009 7:49am Feb 2, 2009 7:49am
i have entered another short @ 1.4092...
beliving in Macd cross over and 20-50 ema cross over..
  • #117,024
  • Feb 2, 2009 7:51am Feb 2, 2009 7:51am
Quoting ntoller
thats a huge move against the trend (2000 pips) and would probably signal the end of this relentless bearish sentiment, the end of risk aversion and some sort of stabilisation in between the current position and where you think it may head. over the last 6 months there hasnt been a move up of more than 1200 pips. If you look at the daily chart and hear the news which is still coming out bad I just dont see how you can predict this. Not so say you arent right, I have no idea of how you trade or whatever. Just would like to know that this is more...
I am not a chartist but looking at it I believe the 1,35 low will keep pound away from further dowmoves.

Consider that there are no more basic reasons to buy dollars against pounds, now the market knows how bad things are and it should react positively to more bad news.

Bank of England will likely cut this week, and I believe this will give GBP more strenght.

I will look for another and more interesting chart showing the trend of the british currency against a basket of currencies for further thoughts
Attached Image (click to enlarge)
Click to Enlarge Name: gu daily.gif Size: 32 KB
  • #117,025
  • Feb 2, 2009 7:54am Feb 2, 2009 7:54am
Quoting pipmyride
looks like consolidation before further drop to me ... cant see longs here .. but thats just me

don't think it will drop more

last two hours downmove was more due to "lack of price"

I see it up over 1,43 tomorrow, but market is waiting for the US ISM to take any further direction
  • #117,026
  • Feb 2, 2009 7:58am Feb 2, 2009 7:58am
Quoting alfamichi
i have entered another short @ 1.4092...
beliving in Macd cross over and 20-50 ema cross over..
oopsss bought......
  • #117,027
  • Feb 2, 2009 8:02am Feb 2, 2009 8:02am
Quoting fammira
don't think it will drop more

last two hours downmove was more due to "lack of price"

I see it up over 1,43 tomorrow, but market is waiting for the US ISM to take any further direction
appreciate your fundies view ... not taking any trades right now anyway,

thx
  • #117,028
  • Feb 2, 2009 8:03am Feb 2, 2009 8:03am
http://i537.photobucket.com/albums/f...d_bucket/6.jpg

Could this be the case for the 400pips down?
On the daily, the UPTREND was only the retracement to 61.8% fibo..
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  • #117,029
  • Feb 2, 2009 8:05am Feb 2, 2009 8:05am
Quoting alfamichi
i have entered another short @ 1.4092...
beliving in Macd cross over and 20-50 ema cross over..
Were you not concerned that you are selling after a near 450 pip daily drop? Did you not think there may be a better point to enter, with more favourable r/r ratio?

Your trade may well turn out okay, but you should not be using a MACD crossover as a sole indicator to enter position.
  • #117,030
  • Feb 2, 2009 8:13am Feb 2, 2009 8:13am
Quoting gammase1
Were you not concerned that you are selling after a near 450 pip daily drop? Did you not think there may be a better point to enter, with more favourable r/r ratio?

Your trade may well turn out okay, but you should not be using a MACD crossover as a sole indicator to enter position.
ABSOLUTELY ...thats a sure way to lose an account
  • #117,031
  • Feb 2, 2009 8:15am Feb 2, 2009 8:15am
Quoting popisdead
http://i537.photobucket.com/albums/f...d_bucket/6.jpg

Could this be the case for the 400pips down?
On the daily, the UPTREND was only the retracement to 61.8% fibo..

8 Year cycle is so obvious ..

http://i537.photobucket.com/albums/f...d_bucket/7.jpg
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  • #117,032
  • Feb 2, 2009 8:16am Feb 2, 2009 8:16am
Quoting fammira
don't think it will drop more

last two hours downmove was more due to "lack of price"

I see it up over 1,43 tomorrow, but market is waiting for the US ISM to take any further direction
what I see is possible H&S that can bring it to 1,43
Attached Image (click to enlarge)
Click to Enlarge Name: hs.gif Size: 18 KB
  • #117,033
  • Feb 2, 2009 8:18am Feb 2, 2009 8:18am
popisdead, Nice!
However the fib completion at 61.6% fib was violated so i dont think it is the reason. But well spotted on that cycle!
  • #117,034
  • Feb 2, 2009 8:21am Feb 2, 2009 8:21am
Quoting fry2010
popisdead, Nice!
However the fib completion at 61.6% fib was violated so i dont think it is the reason. But well spotted on that cycle!
thanks fry..

i kept LONG ang LONG for few weeks already..

today..have to give it back to the market..



pop
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  • #117,035
  • Feb 2, 2009 8:29am Feb 2, 2009 8:29am
News in half hour everyone, just so you know.

This manufacturing news, in the past has it moved the market much? i know it depends on figures, should i take my position off for abit?

Is it a big mover or a little mover?
  • #117,036
  • Feb 2, 2009 8:30am Feb 2, 2009 8:30am
Quoting popisdead
thanks fry..

i kept LONG ang LONG for few weeks already..

today..have to give it back to the market..



pop

Good morning Pop

well...i am glad I stepped out last night. Looks like g/u took a nice dive...
reading the charts and ema periods..we may have a strong case for retracement. If we stay above 4100...

Will wait for report...have a coffee..relax..and then catch a more sure thing..
not into speculation
  • #117,037
  • Feb 2, 2009 8:34am Feb 2, 2009 8:34am
Quoting bobcat
News in half hour everyone, just so you know.

This manufacturing news, in the past has it moved the market much? i know it depends on figures, should i take my position off for abit?

Is it a big mover or a little mover?
bobcat..just remember..its not going to move the currency as you may expect.
US is the number 1 global economy and if it hurts..it affects the others in similar fashion at times since this has had a rippling effect.

So..do not assume direction because of report.

let the direction plus charts tell you direction...not reports..
  • #117,038
  • Feb 2, 2009 8:36am Feb 2, 2009 8:36am
Quoting m_eavey
regarding your post quoted below, I have sent you an PM.

Michelle
I am also interested in infos about a good broker

cheers
  • #117,039
  • Feb 2, 2009 8:48am Feb 2, 2009 8:48am
Quoting gammase1
Were you not concerned that you are selling after a near 450 pip daily drop? Did you not think there may be a better point to enter, with more favourable r/r ratio?

Your trade may well turn out okay, but you should not be using a MACD crossover as a sole indicator to enter position.
99.99% are correct....only .01 depend on big momentum can make it down againt....better think 4 short....i already long
  • #117,040
  • Feb 2, 2009 8:56am Feb 2, 2009 8:56am
Quoting JammerJams
Good morning Pop

well...i am glad I stepped out last night. Looks like g/u took a nice dive...
reading the charts and ema periods..we may have a strong case for retracement. If we stay above 4100...

Will wait for report...have a coffee..relax..and then catch a more sure thing..
not into speculation
good evening JJ..

thanks for your advise..
let see what will the news bring to the table..

pop
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