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Cable Update (GBPUSD)

  • #128,781
  • Apr 2, 2009 7:14am Apr 2, 2009 7:14am
Quoting Tmac
chart updates................ it was there all along....stop guessing and trade
Agreed. Nice work btw Tm.
Thank You
  • #128,782
  • Apr 2, 2009 7:16am Apr 2, 2009 7:16am
Quoting randu
Short from 1.4706 too but i dont know where is the target retrace, do you have suggest ?
Still holding onto shorts, SL at BE. If the next 30 min doesnt close below the 5 ema I'm out of shorts otherwise staying in with TP at 4580. Bulls are stong today!
  • #128,783
  • Apr 2, 2009 7:18am Apr 2, 2009 7:18am
Thank You,

Jammer Jams...
1st off for keeping me awake!!!
I've been up 24hr's working on Cell Sites, and just placed a trade
around the 4am Est to the long side, 'up about a hundred & twenty
odd pips...
-(Shoulda 'Took Profit higher & Went to bed!!! )

So, yes, i have "Impure Motive's" to keep the longs in play!!!
But truthfully watching her she has whip-sawed violently,
back & forth w/North the Preferred route.

I don't know what i'm babbling now Jammer, so i'll shut up here,
and watch the 8:30 Fireworks or "Frizzle"?!
I guess it also depends on how loud & rocus the protesters get
out side the Trading House's w/the G-20! Looks like 'London traders,
don't give a "whit"!
Enjoy, Thx Jammer...

Jeff!!


Quoting JammerJams
Hello Jeff..so what you are saying is that you still see shorting as possibility if.

So far..it is not clear the direction the Pound will take...
Hearing that the worst is behind us....etc. for the UK.

I still see whipsaw effect for all day today...and lots of sideways movement
I will work to Objectively Identify my Edges
  • #128,784
  • Apr 2, 2009 7:21am Apr 2, 2009 7:21am
short. hanging man on hourly
  • #128,785
  • Apr 2, 2009 7:25am Apr 2, 2009 7:25am
Yeah,

Well, she was just taking a breath...

Watch this PsuedO (can't spell it),
Inverse H&S on the 1min Chart...

5 min's till she pop's either way...
We'll just have to see
I will work to Objectively Identify my Edges
  • #128,786
  • Apr 2, 2009 7:42am Apr 2, 2009 7:42am
well theres a right old tussle going on right now at 1.4700. which way will it break...
  • #128,787
  • Apr 2, 2009 7:49am Apr 2, 2009 7:49am
Quoting advfntrader
well theres a right old tussle going on right now at 1.4700. which way will it break...
what I see is another upward moving parallel channel forming upward...but it is still early..
  • #128,788
  • Apr 2, 2009 7:51am Apr 2, 2009 7:51am
Quoting Tmac
chart updates................ it was there all along....stop guessing and trade
Price action of GBP USD so far looks good. As projected (and debated to death, LOL), it is on the way to take out previous ITD 4 high at 4770 and also to take out previous ITD 1 / MTD 9 high at 4985.

Let's see in the next several days if cable prefers to do a triangle wave 4 and go back to 3800 or prefers a flat and goes above 4980. Delta logic indicates expanded flat as a lot more probable. Monthly Candlestick seems to also support that way.

http://www.forexfactory.com/showpost...stcount=128470...
The last line of defense for triangle wave 4 is that resistance line currently at 47188 (high of today). If it is taken out and 4770 is also taken out, then it's over.

At this point, I think there's a very good chance it's going to be broken soon, if not today, then probably tomorrow.

most of you in here look for CT trades it appears and have a major problem following the trend as it is from higher TF's...............posted over 2 weeks ago GU was headed higher but people had shoritis then and have it now, strange
Don't chase the market, Let the market come to you
  • #128,789
  • Apr 2, 2009 8:15am Apr 2, 2009 8:15am
Possible Double Top. Taken short @1.4710..... SL 1.4720..... Like to see it make its back to the 32.8% of todays move or the rising trend.
Attached Image (click to enlarge)
Click to Enlarge Name: untitled.JPG Size: 65 KB
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #128,790
  • Apr 2, 2009 8:26am Apr 2, 2009 8:26am
Quoting Bull_Bear
Possible Double Top. Taken short @1.4710..... SL 1.4720..... Like to see it make its back to the 32.8% of todays move or the rising trend.
I'm out, finding support at the 38.2%.... 1.4641 + 71 pips
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #128,791
  • Apr 2, 2009 8:45am Apr 2, 2009 8:45am
Quoting Bull_Bear
I'm out, finding support at the 38.2%.... 1.4641 + 71 pips
nice entry and exit there
  • #128,792
  • Apr 2, 2009 9:12am Apr 2, 2009 9:12am
The market has been UP, Sideways, UP, Sideways, and so on... Good for sideways traders at the moment...
  • #128,793
  • Apr 2, 2009 9:25am Apr 2, 2009 9:25am
Quoting zapper
The market has been UP, Sideways, UP, Sideways, and so on... Good for sideways traders at the moment...
The bulk of the up move today is pretty much done until NFP tom. Unless Trichet sends the EUR furthur north which can drag cable that little bit more. Overall trend is up....
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #128,794
  • Apr 2, 2009 9:59am Apr 2, 2009 9:59am
Cable continue move upward. Hope those profitable shorts already cashed in.
{Promotion Removed}
  • #128,795
  • Apr 2, 2009 10:04am Apr 2, 2009 10:04am
Quote
but people had shoritis then and have it now, strange

yes it will correct, retrace whatever you wish to call it but direction is up and has been since first chart was posted.........2 weeks ago at 1.38ish

Im done in here again, good luck
Don't chase the market, Let the market come to you
  • #128,796
  • Apr 2, 2009 10:05am Apr 2, 2009 10:05am
Quoting Bull_Bear
Possible Double Top. Taken short @1.4710..... SL 1.4720..... Like to see it make its back to the 32.8% of todays move or the rising trend.
double top on what? is this a 1 min chart?
Don't chase the market, Let the market come to you
  • #128,797
  • Apr 2, 2009 10:07am Apr 2, 2009 10:07am
I'm done for today... booking in my profit before cable starts to retrace

Until tom's madness..... NFP

Good Trading to All
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #128,798
  • Apr 2, 2009 10:17am Apr 2, 2009 10:17am
Just like before, break the triangle towards the topside, bullish continuation.
Break below will be a good opportunity to short. Being stuck in the triangle, step aside, we try not to gamble on the bottleneck.
Good luck
Attached Image (click to enlarge)
Click to Enlarge Name: gu4.JPG Size: 86 KB
Thank You
  • #128,799
  • Apr 2, 2009 10:21am Apr 2, 2009 10:21am
Quoting Bull_Bear
getting a little nervous after you took profit.....
don't know if you were talking about me there Bull_Bear, but I have not taken profit yet, currently @ 350+. I did follow WormBoy's advise though. Have a manual trailing stop @ my 1hr 10EMA Envelope, banking 235 sofar

<send from mobile, please excuse spelling>
  • #128,800
  • Apr 2, 2009 10:28am Apr 2, 2009 10:28am
Quoting Bull_Bear
I'm done for today... booking in my profit before cable starts to retrace

Until tom's madness..... NFP

Good Trading to All
cool... u take profits while i take some shorts
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