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Cable Update (GBPUSD)

  • #126,961
  • Mar 18, 2009 4:48am Mar 18, 2009 4:48am
Quoting sinisabrkic
You mean it is going down
no comment
  • #126,962
  • Mar 18, 2009 4:49am Mar 18, 2009 4:49am
Quoting Abuawad
1.37XX , 1.36XX , 1.35XX
sound good today,
news is the economy of the country and for sure it's impact the country currency
Sounds Good Abuwad,

I was just wondering where / if i should close my short.

Well,
Looks like the H&S really played out today & started
cranking early!
Thanks Abuwad for all your input,

Jeff
I will work to Objectively Identify my Edges
  • #126,963
  • Mar 18, 2009 4:50am Mar 18, 2009 4:50am
Quoting TerpFan2
Sounds Good Abuwad,

I was just wondering where / if i should close my short.

Well,
Looks like the H&S really played out today & started
cranking early!
Thanks Abuwad for all your input,

Jeff
You are welcome
  • #126,964
  • Mar 18, 2009 4:53am Mar 18, 2009 4:53am
Quoting Abuawad
based on what, it wasn't even a support or resistant point?
because of weekly candle open!
it was 3912 , and i thought that this week's candle shouldn't be a beaish candle!
the shape of the last week candle , says that this week shoud be bullish , to my opinion!
but it seems that i've made a mistake!
  • #126,965
  • Mar 18, 2009 4:56am Mar 18, 2009 4:56am
Quoting eychenz
because of weekly candle open!
it was 3912 , and i thought that this week's candle shouldn't be a beaish candle!
the shape of the last week candle , says that this week shoud be bullish , to my opinion!
but it seems that i've made a mistake!
i hope you will cover the -30 pips soon.
hint: if you want to use the candle open or close as SL, make sure you cound the candle shadow and adding at least 10 pips above or below it.. and see if that area is strong or not.

but even that, your entry wasn't correct at all, cable was just starting a strong move to down, and there was a bad news expected to it.
  • #126,966
  • Mar 18, 2009 4:57am Mar 18, 2009 4:57am
Strong point 1.3915 retraced back to it.
Didn't take any risk going into that "news trade"
in profit at the moment on the dollar thow GBP is strange at the moment.
Should go up !!!
  • #126,967
  • Mar 18, 2009 5:00am Mar 18, 2009 5:00am
I also see some Resistance...

At about 1.3914_ 9 (10th's), w/MB.

She went up to that and hit 1.3914_5 by a big,
Bear Paw &- got "Pimp Slapped" back down!!! !
(21 area maybe the max back up??).

-Who knows,
Lov'in every min. of it.
Great Pippin Guys,

Jeff !
I will work to Objectively Identify my Edges
  • #126,968
  • Mar 18, 2009 5:00am Mar 18, 2009 5:00am
Quoting nedrot
Strong point 1.3915 retraced back to it.
Didn't take any risk going into that "news trade"
in profit at the moment on the dollar thow GBP is strange at the moment.
Should go up !!!
Its not a news trading, its technical trading...
why it should go UP !!!
and UP TO WHERE !!!!!!!
  • #126,969
  • Mar 18, 2009 5:03am Mar 18, 2009 5:03am
Yeah,

The charts drive the news,
And the fundies, sure the heck supported it (the move).

"They." can do anything "They" want.
News, what's it matter?
Sometimes, it can trump everything. But the charts,
again were there.

Jeff
I will work to Objectively Identify my Edges
  • #126,970
  • Mar 18, 2009 5:04am Mar 18, 2009 5:04am
Quoting Abuawad
i hope you will cover the -30 pips soon.
hint: if you want to use the candle open or close as SL, make sure you cound the candle shadow and adding at least 10 pips above or below it.. and see if that area is strong or not.

but even that, your entry wasn't correct at all, cable was just starting a strong move to down, and there was a bad news expected to it.
yes , you're right
and i was wrong
thnx for your notice and description
i think i should learn more and more...
  • #126,971
  • Mar 18, 2009 5:04am Mar 18, 2009 5:04am
Quoting Abuawad
Its not a news trading, its technical trading...
why it should go UP !!!
and UP TO WHERE !!!!!!!
to 960! technically thinking
  • #126,972
  • Mar 18, 2009 5:04am Mar 18, 2009 5:04am
Quoting wormboy
Yea that was fast. Love it.
Off jogging now. Catch you guys later new york session. Good luck guys.
Man! That was a rollercoaster ride!
I hope we'll have another one or some on usa opening/news!
I'll get a ticket for sure!

Bring it on! Loving it!
Better trail, better trail....
  • #126,973
  • Mar 18, 2009 5:05am Mar 18, 2009 5:05am
is it now going up gbpusd
  • #126,974
  • Mar 18, 2009 5:09am Mar 18, 2009 5:09am
Quoting Abuawad
Its not a news trading, its technical trading...
why it should go UP !!!
and UP TO WHERE !!!!!!!
Agree, It's bad to take long right now...
  • #126,975
  • Mar 18, 2009 5:09am Mar 18, 2009 5:09am
Quoting blessedolb
is it now going up gbpusd
??

Jobless claims in the U.K. rose 138.4K to 1.39M in February, marking the biggest drop in employment since record keeping began in 1971, and raised the claimant count rate to 4.3% from a revised reading of 3.9% in the previous month. Meanwhile, a separate report showed that average earnings including bonuses slipped to 1.8% during the three-months to January from a previous reading of 3.1%, which is the lowest level since 1991, and labor conditions are likely to deteriorate further throughout the first half of the year as the economy faces a deepening recession. The data foreshadows a dour outlook for private-spending as workers face a weakening labor market, and as businesses continue to slash their work force in an effort to reduce costs, economic activity is likely to weaken further as households and firms turn increasingly pessimistic towards the economy.

The release of the Bank of England minutes showed that they voted 9-0 to cut their benchmark rate by 0.50% at their last policy meeting. The central bank was also unanimous in deciding to print £75 billion in order to buy government bonds. The MPC said the scale of the purchases needs to target CPI as it still see it at risk for undershooting their 2% target. Policy makers will take its cue from inflation as to when it will end its efforts as they review the appropriate scale of purchases on a monthly basis. The BoE also forecasted that growth in the first quarter could be a dismal as the fourth quarter of 2008 which contracted by 1.5%.

source: dailyfx
  • #126,976
  • Mar 18, 2009 5:10am Mar 18, 2009 5:10am
Pennant Formation,

On the ONE min. done, cooked, -Over with,
Already.

Down,
The Bears have it in there arms!
I will work to Objectively Identify my Edges
  • #126,977
  • Mar 18, 2009 5:11am Mar 18, 2009 5:11am
Quoting mr.m
to 960! technically thinking
Post your chart then
  • #126,978
  • Mar 18, 2009 5:15am Mar 18, 2009 5:15am
Gee...

That kinda news warrants a retest of the 1.35
for sure eh?! !
I will work to Objectively Identify my Edges
  • #126,979
  • Mar 18, 2009 5:17am Mar 18, 2009 5:17am
Quoting Abuawad
Its not a news trading, its technical trading...
why it should go UP !!!
and UP TO WHERE !!!!!!!
Abu what I mean is entering a Trade near major NEWS announcements
I don't like that because my broker doesn't let me place a stoploss or even a limit and locks it up for about 5 to10 minutes you can't get out even manualy !!!
So I enter my trades mostly when there is NO news around. lol

I'am more comforatable on EUR/USD and CHF but I see cable has big moves.
  • #126,980
  • Mar 18, 2009 5:17am Mar 18, 2009 5:17am
Quoting TerpFan2
Gee...

That kinda news warrants a retest of the 1.35
for sure eh?! !
i think 13740 is a sensible target for today but it certainly looks like its heading for a 13500 retest this week
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