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Cable Update (GBPUSD)

  • #126,041
  • Mar 11, 2009 1:21pm Mar 11, 2009 1:21pm
Quoting manize
I don't take a short yet. Just curiously, why after jump up almost +100 pips not fall down quickly as usual ?

Maybe because we are awfully damn close to yesterdays HOD and EUR/USD busted through by 40ish before simmering down....

Might be waiting for higher highs...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #126,042
  • Mar 11, 2009 1:22pm Mar 11, 2009 1:22pm
Quoting manize
I don't take a short yet. Just curiously, why after jump up almost +100 pips not fall down quickly as usual ?
My guess is there is a lot of dollar selling today, maybe commercial selling which is normally spread out throughout the day.

I expected the dollar to get some support from falling oil prices today but that didnt seem to be the case
  • #126,043
  • Mar 11, 2009 1:28pm Mar 11, 2009 1:28pm
Quoting manize
I don't take a short yet. Just curiously, why after jump up almost +100 pips not falling down quickly as usual ? Becarefull friend !

Well I coudn't say for sure, but its usually quiet around this time so I expect things to pick up in a few hours. Other than that, all I can say is Asia is coming in and they love the Benjamins. And finally, looking at all that resistance in the way, and I just think if its going to break, it will need a little bit of momentum.
  • #126,044
  • Mar 11, 2009 1:35pm Mar 11, 2009 1:35pm
Hmmm ... doubtfull to consider, ... morning atm at my place, I am out
Trade well friend !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #126,045
  • Mar 11, 2009 1:43pm Mar 11, 2009 1:43pm
Quoting TheDirtySerb
Well I coudn't say for sure, but its usually quiet around this time so I expect things to pick up in a few hours. Other than that, all I can say is Asia is coming in and they love the Benjamins. And finally, looking at all that resistance in the way, and I just think if its going to break, it will need a little bit of momentum.
Finally some dollar buying i thought the dollar bulls had packed up and gone home lol
  • #126,046
  • Mar 11, 2009 1:53pm Mar 11, 2009 1:53pm
Quoting PipLand
Finally some dollar buying i thought the dollar bulls had packed up and gone home lol
Well I'm watching to see how this daily bar closes. Its setting up to be a classic reversal pattern should the day close around these levels or specifically around 3900. That doesnt mean $ bulls wont come out for a little go around, but I am watching the daily close with great interest.
  • #126,047
  • Mar 11, 2009 1:56pm Mar 11, 2009 1:56pm
Right sod it! ive closed out for 8 pips im gonna come back in the morning and fight this thing Good!

Good luck with your trades everyone catch you all later
  • #126,048
  • Mar 11, 2009 1:57pm Mar 11, 2009 1:57pm
Have a good one.
  • #126,049
  • Mar 11, 2009 1:57pm Mar 11, 2009 1:57pm
Quoting TheDirtySerb
Well I'm watching to see how this daily bar closes. Its setting up to be a classic reversal pattern should the day close around these levels or specifically around 3900. That doesnt mean $ bulls wont come out for a little go around, but I am watching the daily close with great interest.
EU is looking far too bullish and is spooking me out, so i closed out. It shall be interesting too see if the dollar sell off continues tomorrow
  • #126,050
  • Mar 11, 2009 2:19pm Mar 11, 2009 2:19pm
Quoting PipLand
EU is looking far too bullish and is spooking me out, so i closed out. It shall be interesting too see if the dollar sell off continues tomorrow

I was beginning to doubt the play too....

Hate looking like an ass when I post....Closed 2, green on 2, holding 2 in the stink....

Exercising a little CYA never a bad idea....

As far as the daily's go...lower high and lower low...bring on the bears BABY!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #126,051
  • Mar 11, 2009 3:02pm Mar 11, 2009 3:02pm
Feedback on this pending trade please

Entry
SELL 1.3900
STOP 1.4202
Limit 1.3504
_______________ Say Good-bye to Buy-and-Hold
  • #126,052
  • Mar 11, 2009 3:13pm Mar 11, 2009 3:13pm
Quoting deltaworld
Feedback on this pending trade please

Entry
SELL 1.3900
STOP 1.4202
Limit 1.3504
I was considering the same trade but here is why im no longer considering it.

we have broken out of the bearish channel (in between redlines)


dollar index has broken below support levels as well, i'll watch and see how this plays out for now and i'll look for a position in the morning.

Be carefull and good luck
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  • #126,053
  • Mar 11, 2009 3:18pm Mar 11, 2009 3:18pm
Quoting PipLand
I was considering the same trade but here is why im no longer considering it.

we have broken out of the bearish channel (in between redlines)


dollar index has broken below support levels as well, i'll watch and see how this plays out for now and i'll look for a position in the morning.

Be carefull and good luck
can you see that attachemtn or is it blank ?? My mobile phone internet connection is poo at the moment so sorry if its blank
  • #126,054
  • Mar 11, 2009 3:46pm Mar 11, 2009 3:46pm
Quoting deltaworld
Feedback on this pending trade please

Entry
SELL 1.3900
STOP 1.4202
Limit 1.3504
You pick a good level to short. Good rr if you ask me.
But you might want to consider a channel break before shorting. Tho tbh I don't think you'll get stopped out should 3900 clears, 4150 is still going to be tough to break. Just a thought. Good luck with your trade.
Okay I'm off. Gnite.
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Thank You
  • #126,055
  • Mar 11, 2009 3:50pm Mar 11, 2009 3:50pm
Quoting PipLand
Thats was accurate ! Assuming of course that was the end of the little rally im short once again 3875
phew - thought I was on my todd


(on your) Todd - short for Todd Sloane, Rhyming Slang for 'own'. After the famous jockey. e.g. "There's you lot having a wild time and I'm left here all on me' Todd".
  • #126,056
  • Mar 11, 2009 3:58pm Mar 11, 2009 3:58pm
Quoting allserene
phew - thought I was on my todd


(on your) Todd - short for Todd Sloane, Rhyming Slang for 'own'. After the famous jockey. e.g. "There's you lot having a wild time and I'm left here all on me' Todd".
I closed out for a few pips as didnt like the PA, wish I kept it now as i could have locked it for a nice risk free crack at the whip. The reason I closed I noticed we broke out of a bearish channel and Dollar index has fallen below monthly support levels. Also Eu is riding in a strong bullish channel and broken above a monthly downtrend.

What price you in at?
  • #126,057
  • Mar 11, 2009 4:02pm Mar 11, 2009 4:02pm
Quoting PipLand
I closed out for a few pips as didnt like the PA, wish I kept it now as i could have locked it for a nice risk free crack at the whip. The reason I closed I noticed we broke out of a bearish channel and Dollar index has fallen below monthly support levels. Also Eu is riding in a strong bullish channel and broken above a monthly downtrend.

What price you in at?
1.3812 and sweating

as long as it falls back before all the long artists pile in I will be happy..

No idea where it's going - I think it's drunk

I like your reasoning though and I just can't get my head round a new direction - and I like to tell myself a fundie story too but I can't find one

Was it all a dream ? Is the UK fixed ? 1.74?....these trends seem to be dead ends with no 2 year romp in sight
  • #126,058
  • Mar 11, 2009 4:10pm Mar 11, 2009 4:10pm
Quoting allserene
1.3812 and sweating

as long as it falls back before all the long artists pile in I will be happy..

No idea where it's going - I think it's drunk
For it to touch 3812 it would have to retest the top of the bearish channel this is possible but i would be happy with break even and see what the price does from there personally, closing below 3800 and were back in the bearish channel and heading south, sorry i cant post a graph at the moment to show you what I mean but good luck
  • #126,059
  • Mar 11, 2009 4:14pm Mar 11, 2009 4:14pm
Hi all. More charts from me.Will see will it go down.

1st 4 hr CCi is in 100 area RSi in 50.Good point for short for me..Failed to break 38 fib.Cable likes to make 50 fib which is arround 4000 and it is logical for me to test that area so if more up that is more shorts from me in bigger ammount.

2nd daily Notice Resistance line on CCI and RSI.Momentum lower from previus high also and look s like it is gonna bounce from last low.

In short going short with some small size if makes more up waiting at 4000 area to add more.

will see will it come to 3770 for start
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  • #126,060
  • Mar 11, 2009 4:14pm Mar 11, 2009 4:14pm
Quoting PipLand
For it to touch 3812 it would have to retest the top of the bearish channel this is possible but i would be happy with break even and see what the price does from there personally, closing below 3800 and were back in the bearish channel and heading south, sorry i cant post a graph at the moment to show you what I mean but good luck
Also forgot to mention be v carefull past 3900 price could shoot up from there, 3990 being the next level past 3900 on my chart anyway
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