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Cable Update (GBPUSD)

  • #122,201
  • Feb 20, 2009 8:53am Feb 20, 2009 8:53am
Oh Abu..were are THOU?...Could this be your 1st missionary journey?..1.4255
  • #122,202
  • Feb 20, 2009 8:53am Feb 20, 2009 8:53am
Whats the reason of this spike ?? the opening of Newyork ?
  • #122,203
  • Feb 20, 2009 8:54am Feb 20, 2009 8:54am
Quoting jack.canadia
It was also a 61.8 fib level. I'm just saying, if we go back down there, there is a good chance it wont get respected too long. You can tell how strong a level is. Fewer touches and harder rallies from that level = very strong.
Was it you Jack that said yesterday about the 5m 50 Ma being something the pros use to bounce off?
  • #122,204
  • Feb 20, 2009 8:54am Feb 20, 2009 8:54am
Quoting Sahil
GBP may be bouncing to test the Pivot point at 1.4314. We should see another short selling opportunity soon.
Came out of trade. Took +38 Pips

Good Luck
good move Sahil

i see a mix today..no real drive down...good usa news..bad stock trading..real mix messages...
  • #122,205
  • Feb 20, 2009 8:55am Feb 20, 2009 8:55am
Quoting Barny
Was it you Jack that said yesterday about the 5m 50 Ma being something the pros use to bounce off?
I don't know exactly what the pros use. But I did say that I heard pros, banks and big firms use pivot points to trade.
  • #122,206
  • Feb 20, 2009 8:57am Feb 20, 2009 8:57am
Quoting PipLand
added a little to my short now
Looks like the movement up and down surrounding DP ! Maybe scalp time !

Nicely H1 open=close =1.4295. The previous 2 candles H1 open = close = 1.4315. It means the PA within the latest 3 hours only 20 pips differ !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #122,207
  • Feb 20, 2009 9:05am Feb 20, 2009 9:05am
[quote=manize;2553850]Looks like the movement up and down surrounding DP ! Maybe scalp time !

Yeah looks like bulls and bears having a fight here!
  • #122,208
  • Feb 20, 2009 9:05am Feb 20, 2009 9:05am
  •  Sahil
  • | Joined Jan 2009 | Status: Options Trader - Commodities & FX | 24 Posts
Quoting Benjie
Whats the reason of this spike ?? the opening of Newyork ?
Mixed Reactions from New York and also IT will retest Pivot point and R1 as Most of the Institutional traders use them to scare us guys.

We have a DRAGONFLY DOJI as H! candle. THis will be bullish for time being unless pivot points provides resistance.
  • #122,209
  • Feb 20, 2009 9:08am Feb 20, 2009 9:08am
fly fly
  • #122,210
  • Feb 20, 2009 9:15am Feb 20, 2009 9:15am
yup...usd is weak all around...other pairs gaining on usd...gbp is mixed..im out for the day..and set alarms..and get some good sleep...and then wake in 3 hours..and have nice lunch..and prepare for a great weekend...

only solid short..may be u/j drop from high of 94.28 may take a few nice pips on this position...and hold with +BE over the weekend...

have a great weekend all..
ciao
  • #122,211
  • Feb 20, 2009 9:15am Feb 20, 2009 9:15am
  •  Sahil
  • | Joined Jan 2009 | Status: Options Trader - Commodities & FX | 24 Posts
Quoting dswk
fly fly
+22 Pips and now waiting for the pivot points to show some R or S. ITs showing strong Resistance though.
  • #122,212
  • Feb 20, 2009 9:16am Feb 20, 2009 9:16am
This is like a pendulum.
  • #122,213
  • Feb 20, 2009 9:19am Feb 20, 2009 9:19am
Quoting JammerJams
yup...usd is weak all around...other pairs gaining on usd...gbp is mixed..im out for the day..and set alarms..and get some good sleep...and then wake in 3 hours..and have nice lunch..and prepare for a great weekend...

only solid short..may be u/j drop from high of 94.28 may take a few nice pips on this position...and hold with +BE over the weekend...

have a great weekend all..
ciao
Catch you later, HAve a great weekend too!
  • #122,214
  • Feb 20, 2009 9:20am Feb 20, 2009 9:20am
Oh Abu..were are THOU?...Could this be your 1st missionary journey?..1.4255
  • #122,215
  • Feb 20, 2009 9:20am Feb 20, 2009 9:20am
Got 25 pips from last move down. Staying on the sideline until a good full body candle form. Don't like these wicks on the 1HR.

Quoting dswk
fly fly
  • #122,216
  • Feb 20, 2009 9:22am Feb 20, 2009 9:22am
Think shes gearing up to attack 4220 support!
  • #122,217
  • Feb 20, 2009 9:24am Feb 20, 2009 9:24am
Quoting PipLand
Think shes gearing up to attack 4220 support!
Need to see this go below 4230 otherwise im gonna take my pips and run
  • #122,218
  • Feb 20, 2009 9:28am Feb 20, 2009 9:28am
Quoting PipLand
Need to see this go below 4230 otherwise im gonna take my pips and run
at what point would you decide to run away?
  • #122,219
  • Feb 20, 2009 9:29am Feb 20, 2009 9:29am
The bearish trend is over ... I think it will be a sideways market for a while
  • #122,220
  • Feb 20, 2009 9:32am Feb 20, 2009 9:32am
Buying the dips here for upwards scalps....Sideways market still on the bullish side imo...
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