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Cable Update (GBPUSD)

  • #127,321
  • Mar 19, 2009 7:58am Mar 19, 2009 7:58am
Quoting PipLand
I reckon we coudl get down to about 4425.

My thoughts are that we start making a new bull flag here. Were above trendline on my chart so im not taking profit yet
i do agree but im thinking it going back to test it
  • #127,322
  • Mar 19, 2009 8:01am Mar 19, 2009 8:01am
Quoting riggster
Nav, whats a pin? Please.
check this out http://www.dailyforexjournal.com/pos...e-of-them.html
  • #127,323
  • Mar 19, 2009 8:02am Mar 19, 2009 8:02am
Quoting nAVIN2007
when the open and close are contained within the previous candles range if u got to the j16 thread u will see millions
Thanks, appreciated.
  • #127,324
  • Mar 19, 2009 8:06am Mar 19, 2009 8:06am
Quoting PipLand
check this out http://www.dailyforexjournal.com/pos...e-of-them.html
Fully explained!
  • #127,325
  • Mar 19, 2009 8:08am Mar 19, 2009 8:08am
I agree on the flag, and probably form throughout the afternoon. Price is now well above the 89 SMA so it's safe to say uptrend again. Notice how the pair crossed the 89 and came back and tested and then continued on. This speaks volumes to me and the Daily 89 is off in the distance some 1400 pips away.

Quoting PipLand
I reckon we coudl get down to about 4425.

My thoughts are that we start making a new bull flag here. Were above trendline on my chart so im not taking profit yet
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  • #127,326
  • Mar 19, 2009 8:17am Mar 19, 2009 8:17am
I have not been in this thread in a while.

Heres my thoughts on cable at the moment for anyone thats interested, i'd be inclined to take longs, but would take shorts if the setups were nice enough

If that last 1Hr bar formed as a pin that didnt touch the .45 I woulda called it a pin bar due to forex option protection and shorted it into oblivion, but looks like the bulls are firmly in charge, I'll look to get in whenever I can I guess
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  • #127,327
  • Mar 19, 2009 8:22am Mar 19, 2009 8:22am
Tp 1 : 1.4605
Tp 2 : 1.5349 !!!
  • #127,328
  • Mar 19, 2009 8:23am Mar 19, 2009 8:23am
Quoting nAVIN2007
i do agree but im thinking it going back to test it
yeah this rally has to consolidate soon, its hard to believe we just broke through 4500 and held, its been so long now!

4600 - 4660 level next i doubt very much that we will see this today though
  • #127,329
  • Mar 19, 2009 8:30am Mar 19, 2009 8:30am
I don't see any sign of reversal yet, but you are right, it is due a drop.. but when??
_______________ Say Good-bye to Buy-and-Hold
  • #127,330
  • Mar 19, 2009 8:35am Mar 19, 2009 8:35am
You should be seeing it, right, about....

NOW!




Play safe guys, I got me another day in the salt mines!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #127,331
  • Mar 19, 2009 8:38am Mar 19, 2009 8:38am
Ive entered a sell with a STOP at 1.4664 let's hope this one holds up.
_______________ Say Good-bye to Buy-and-Hold
  • #127,332
  • Mar 19, 2009 8:41am Mar 19, 2009 8:41am
Cot data just released 25mins ago

Source : DailyFX

http://www.dailyfx.com/export/sites/...09-03-19_4.gif

GBPUSD – Increasingly indecisive British Pound/US Dollar positioning has left our forex trading strategies effectively flat the GBP/USD. The ratio of long to short positions in the GBPUSD stands at 1.02 as nearly 51% of traders are long. Yesterday, the ratio was at 1.47 as 60% of open positions were long. In detail, long positions are 25.9% lower than yesterday and 16.0% stronger since last week. Short positions are 6.5% higher than yesterday and 28.4% stronger since last week. Open interest is 12.8% weaker than yesterday and 29.0% above its monthly average. The jump in short interest and a wave of profit taking on longs suggests that the GBP/USD may continue to rally through near-term trade.
  • #127,333
  • Mar 19, 2009 8:59am Mar 19, 2009 8:59am
time for patience...
Durn the torpedos, full speed ahead
  • #127,334
  • Mar 19, 2009 9:02am Mar 19, 2009 9:02am
shorted from 1.4540 ......... locked 30 pips moved stop loss down......... I think this will go back to 1.44 at least............... reason too much too fast...... price aberration......not in agreement with my linear regression.......major tenet IMHO and correlation........GBP/JPY struggle to breach 138........major resistance

will come back to 1.42
BANDA333
  • #127,335
  • Mar 19, 2009 9:07am Mar 19, 2009 9:07am
Quoting BANDA
shorted from 1.4540 ......... locked 30 pips moved stop loss down......... I think this will go back to 1.44 at least............... reason too much too fast...... price aberration......not in agreement with my linear regression.......major tenet IMHO and correlation........GBP/JPY struggle to breach 138........major resistance

will come back to 1.42
I'm with you... @ 1.4536 but my long still in the BEP area...
  • #127,336
  • Mar 19, 2009 9:16am Mar 19, 2009 9:16am
Quoting BANDA
shorted from 1.4540 ......... locked 30 pips moved stop loss down......... I think this will go back to 1.44 at least............... reason too much too fast...... price aberration......not in agreement with my linear regression.......major tenet IMHO and correlation........GBP/JPY struggle to breach 138........major resistance

will come back to 1.42
Great entry for a short Banda! was that off the hangman on the 15min?

i dont think it will go down too far but youve got some pips in the bag already now
  • #127,337
  • Mar 19, 2009 9:28am Mar 19, 2009 9:28am
Hey Pip
How are you? I decided to short 1.4540

1) It touched it touched upper limit of Regression level channel.....
2) As it didn't have strength to go up to 161.8%Fib projection ...... plotted from last swing high to low...... which lies around 1.4570
If it moves above 1.4650 I will take a lose.......

at these levels I am a chicken to go long ...........I have been long from bottom




Quoting PipLand
Great entry for a short Banda! was that off the hangman on the 15min?

i dont think it will go down too far but youve got some pips in the bag already now
BANDA333
  • #127,338
  • Mar 19, 2009 9:28am Mar 19, 2009 9:28am
I know this is slightly off topic but id imagine that Japan isnt happy about this sudden $ weakness.

Maybe they will start selling the Yen if it gets worse?

any opinions?
  • #127,339
  • Mar 19, 2009 9:31am Mar 19, 2009 9:31am
Quoting BANDA
Hey Pip
How are you? I decided to short 1.4540

1) It touched it touched upper limit of Regression level channel.....
2) As it didn't have strength to go up to 161.8%Fib projection ...... plotted from last swing high to low...... which lies around 1.4570
If it moves above 1.4650 I will take a lose.......

at these levels I am a chicken to go long ...........I have been long from bottom
Im good thanks Banda hope your doing well!

Thanks for explaining I would have thought you'd have locked it at BE now?

Anyway youve got a pin on the 1hr which is good for your short!

Whats your target?
  • #127,340
  • Mar 19, 2009 9:32am Mar 19, 2009 9:32am
I don't get why Japan hasn't begun depreciating there currency, It just keeps getting stronger. This is a disaster for there export driven economy.
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