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Cable Update (GBPUSD)

  • #125,521
  • Mar 9, 2009 6:00am Mar 9, 2009 6:00am
Quoting ezodisy
There are times when it seems you're not making any progress with charting but that's not the case really. Don't give up on it, you definitely had the right sell point, a 20pip miss is just one of those things.
I hear you. I'm not giving up by any means. I've had my head so buried in trying to learn that sometimes I think all that info is actually clouding a "simpler path"...lol

uut.. Yes I was expecting the gap up and expecting a bull fake, thought it would reach the 4200 or higher before dropping in reaction to the news in Britain over the weekend.
Ghost Rider - WWTBMD?
  • #125,522
  • Mar 9, 2009 6:09am Mar 9, 2009 6:09am
i sold on the early asian session at 1.4165 and 1.4141 close both at 1.4000. damn.!! but, anyway, good green pips. i'm expecting for a retracement to around 1.3980. but the Great Britain weekend was so heavy ...

i'm long at 1.3913. sl 1.3970 target 1.4025 but with Trailing of 45 pips. let's see what happened. for now is movin into the red zone...
  • #125,523
  • Mar 9, 2009 6:09am Mar 9, 2009 6:09am
Quoting forex888
i have no idea about the retracement point. Anyone know where is the support level will hold?
Yeah,
I sure the heck would'nt catch the retrace falling K-nife,
at this point. I unfortunately had a tto (take profit) stop at about 130 pips,
and caught the ride down from 1.4016 when 'woke up, to around 1.3886.
-Boo Hiss !

255 is the Daily ATR i see w/Mb Trading... which i was shooting for.
@1.3861. -So any K-Nife grabbers there fine! i still wouldn't.
Enjoy,
I better not touch her!
Have some great fun trading guys,


Jeff !
I will work to Objectively Identify my Edges
  • #125,524
  • Mar 9, 2009 6:13am Mar 9, 2009 6:13am
[quote=cesarg;2589254]i sold on the early asian session at 1.4165 and 1.4141 close both at 1.4000. damn.!! but, anyway, good green pips. i'm expecting for a retracement to around 1.3980. but the Great Britain weekend was so heavy ...

Caesar...
You got stopped out w/Take Profit too ehh...
What a horrible way to start a week ehh? !

I had about 130 plus some other scalping fishing...
So be happy bud, you beat me by about 20 to 30 pips!!! !

Have a great one,

Jeff !
I will work to Objectively Identify my Edges
  • #125,525
  • Mar 9, 2009 6:53am Mar 9, 2009 6:53am
time to buy a bit at support level 1.3830
ROBOT FOREX
  • #125,526
  • Mar 9, 2009 6:58am Mar 9, 2009 6:58am
Quoting Forbes55
time to buy a bit at support level 1.3830
You think that low? Hmmmm...I'm set to buy at 3860...Hmmmm....Maybe I'm too high? Hasn't taken yet but it's close.
Ghost Rider - WWTBMD?
  • #125,527
  • Mar 9, 2009 7:09am Mar 9, 2009 7:09am
Well Forbes55,

looks like you were right. Just hit 3828 and my 3860 is in the red...LOL

Oh well, I think it will still pay off.
Ghost Rider - WWTBMD?
  • #125,528
  • Mar 9, 2009 7:11am Mar 9, 2009 7:11am
Quoting Forbes55
time to buy a bit at support level 1.3830
Good morning, folks
Could you please post your chart with that support at 3830?
  • #125,529
  • Mar 9, 2009 7:20am Mar 9, 2009 7:20am
Quoting albchr
You think that low? Hmmmm...I'm set to buy at 3860...Hmmmm....Maybe I'm too high? Hasn't taken yet but it's close.
bros..it is time we follow the trend..there is no known support. not till 1.3502..
so thinking of going long we have to be careful. i would have shorted it @ 1.4067..but missed it..just hanging at the bus stop for now

just my idea
  • #125,530
  • Mar 9, 2009 7:27am Mar 9, 2009 7:27am
Quoting alfamichi
bros..it is time we follow the trend..there is no known support. not till 1.3502..

just my idea
and if the support level 1.3830 is not the support, then what's it??? resistance???
http://forexmillion.com/forex-forecast/gbp-usd
ROBOT FOREX
  • #125,531
  • Mar 9, 2009 7:27am Mar 9, 2009 7:27am
Wow, just woke up too and missed this humongous move???? What happened to cause this move? Can someone shed some light? I was up until 2AM EST last night and not much move. I thought...another boring Monday with NO ANNOUNCEMENT so I said will wait till US session and see. Oh boy, wish I had the energy to stay like normal. Darn. Could have done for the week with that move!!!!!

Quoting Komissar
Good morning, folks
Could you please post your chart with that support at 3830?
  • #125,532
  • Mar 9, 2009 7:28am Mar 9, 2009 7:28am
what do you think is it too late to jump on a short bus
  • #125,533
  • Mar 9, 2009 7:28am Mar 9, 2009 7:28am
Quoting alfamichi
bros..it is time we follow the trend..there is no known support. not till 1.3502..
so thinking of going long we have to be careful. i would have shorted it @ 1.4067..but missed it..just hanging at the bus stop for now

just my idea
You may be right here. I have my next support at 3500 also but thought I could trade a small bounce from 3860 where it paused. I'll give it a little time but might have to cut the loss.
Ghost Rider - WWTBMD?
  • #125,534
  • Mar 9, 2009 7:36am Mar 9, 2009 7:36am
Quoting SeaPip
Wow, just woke up too and missed this humongous move???? What happened to cause this move? Can someone shed some light? I was up until 2AM EST last night and not much move. I thought...another boring Monday with NO ANNOUNCEMENT so I said will wait till US session and see. Oh boy, wish I had the energy to stay like normal. Darn. Could have done for the week with that move!!!!!
Huge pressure on UK banking stocks, which is dragging sterling down, given the close correlation between the two...

Barclays, HSBC, Lloyds and RBS all down roughly 10% on the day.

Government announced increased stake in Lloyds on Friday night, in exchange for providing insurance of troubled assets.
  • #125,535
  • Mar 9, 2009 7:39am Mar 9, 2009 7:39am
Quoting Forbes55
and if the support level 1.3830 is not the support, then what's it??? resistance???
http://forexmillion.com/forex-forecast/gbp-usd
it is like you are trading Gold or Oil and not forex
  • #125,536
  • Mar 9, 2009 7:42am Mar 9, 2009 7:42am
As has been discussed before on this forum there is little to no support from 3950 - 3500. There may be a little support around 1.3730 but i certainly wouldnt be using it as a base for longs
  • #125,537
  • Mar 9, 2009 7:46am Mar 9, 2009 7:46am
It's absolutely relentless, not even retracing above the 15m 5sma for a breather
  • #125,538
  • Mar 9, 2009 7:49am Mar 9, 2009 7:49am
Quoting ezodisy
It's absolutely relentless, not even retracing above the 15m 5sma for a breather
do you really think so?
retrace will be soon
ROBOT FOREX
  • #125,539
  • Mar 9, 2009 7:49am Mar 9, 2009 7:49am
Quoting PipLand
As has been discussed before on this forum there is little to no support from 3950 - 3500. There may be a little support around 1.3730 but i certainly wouldnt be using it as a base for longs
So, another 300 pips of free fall?
  • #125,540
  • Mar 9, 2009 7:50am Mar 9, 2009 7:50am
Quoting Forbes55
do you really think so?
retrace will be soon
not think so, it's there on the charts. I do hope it retraces so we can all sell it further
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