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Cable Update (GBPUSD)

  • #131,301
  • May 6, 2009 6:18am May 6, 2009 6:18am
any body got any idea what the heck this last move was about?? anticipating news??
  • #131,302
  • May 6, 2009 6:26am May 6, 2009 6:26am
It could be something to do with the damning comments from the UK parliament querying Darling's growth forecast. Quite right too.

If it stays below 1.5050, we have a good chance of a run down.
  • #131,303
  • May 6, 2009 6:27am May 6, 2009 6:27am
Failed to break 1.5095 and retrace to 1.5040.
News coming soon. If price break 1.502, first target 1.5, then 1.492.
  • #131,304
  • May 6, 2009 6:27am May 6, 2009 6:27am
Quoting 4cfx
It could be something to do with the damning comments from the UK parliament querying Darling's growth forecast. Quite right too.
cheers! well done, Darling!! at least you can count on the government for something!
  • #131,305
  • May 6, 2009 6:31am May 6, 2009 6:31am
any one in favour of short
  • #131,306
  • May 6, 2009 6:32am May 6, 2009 6:32am
I'm just surprised that the market believed his forecast in the first place!
  • #131,307
  • May 6, 2009 6:34am May 6, 2009 6:34am
Quoting mattpajek
any one in favour of short
There is a huge amount of resistance around 1.5050 / 1.5100 - however we've seen some strong upward momentum in the past few days, I'm waiting for a 4H candle close above 1.5100 area or below 1.4988 before she gets my attention.

current price action is in a 230 pip range.
  • #131,308
  • May 6, 2009 6:36am May 6, 2009 6:36am
Short trade triggered at 1.502. TP 1.492, SL 1.506
  • #131,309
  • May 6, 2009 6:39am May 6, 2009 6:39am
ah, the psychological power of a nice round number!!
  • #131,310
  • May 6, 2009 6:41am May 6, 2009 6:41am
Quoting sengph
Short trade triggered at 1.502. TP 1.492, SL 1.506
very tight, what lot size you trading if i may ask?
  • #131,311
  • May 6, 2009 6:42am May 6, 2009 6:42am
Quoting sengph
Short trade triggered at 1.502. TP 1.492, SL 1.506
Mate, dont sell into support & around such an important whole number 1.50!!
  • #131,312
  • May 6, 2009 6:46am May 6, 2009 6:46am
becareful, its just effect news... we have strong resistance for daily and we have -75 pips to open, Cable need clearing daily av. and 3 day MA in flat.



Attached Image (click to enlarge)
Click to Enlarge Name: 3dayma.gif Size: 73 KB


good luck!

and happy green pips all.
  • #131,313
  • May 6, 2009 6:49am May 6, 2009 6:49am
Quoting biax
becareful, its just effect news... we have strong resistance for daily and we have -75 pips to open, Cable need clearing daily av. and 3 day MA in flat.



Attachment

good luck!

and happy green pips all.
OH MY GOD!! that chart has just scared the living daylight out of me! I'm going for a walk!!! How do you ever figure out what is going on??
  • #131,314
  • May 6, 2009 6:52am May 6, 2009 6:52am
Quoting welshguy2000
OH MY GOD!! that chart has just scared the living daylight out of me! I'm going for a walk!!! How do you ever figure out what is going on??
LOL!! how the heck do you make head or tail (sorry, head and shoulders!) out of that - its either seriously impressive, or seriously confusing!
  • #131,315
  • May 6, 2009 6:54am May 6, 2009 6:54am
Quoting 4cfx

Shorted at 1.51 and hoping to take profit 1.4980.
Moved stop now to 1.5050. Anyone else agree with this?
  • #131,316
  • May 6, 2009 6:55am May 6, 2009 6:55am
Interesting to note, the trend line on the 4h chart that was broken yesterday...the candle today spiked through it but closed lower.
  • #131,317
  • May 6, 2009 6:55am May 6, 2009 6:55am
Quoting welshguy2000
OH MY GOD!! that chart has just scared the living daylight out of me! I'm going for a walk!!! How do you ever figure out what is going on??
let's market decide, my indicator just referrer, my focus still in price action
  • #131,318
  • May 6, 2009 6:58am May 6, 2009 6:58am
It was a shooting star candlestick yesterday on the daily.
  • #131,319
  • May 6, 2009 7:06am May 6, 2009 7:06am
Have a nice day all!

Attached Image (click to enlarge)
Click to Enlarge Name: buy3.gif Size: 57 KB
  • #131,320
  • May 6, 2009 7:07am May 6, 2009 7:07am
Trendline on the 4H has been broken, wait for confirmation of the 1.5000 level break to be extra safe for short continuation.

Stop sell order 1.4995..... 1st TP 1.4900.... 2nd TP 1.4850
Veni, Vidi, Vici (We came, we saw, we conquered)
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