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Cable Update (GBPUSD)

  • #131,341
  • May 6, 2009 2:01pm May 6, 2009 2:01pm
Quoting GlobalMacro
Equity markets are surging dramatically. S&P @ 915++
Whats the reason? Bank stress tests predicted to be better?
  • #131,342
  • May 6, 2009 2:05pm May 6, 2009 2:05pm
Quoting EricB
Whats the reason? Bank stress tests predicted to be better?
Yes apparently so.
  • #131,343
  • May 6, 2009 2:08pm May 6, 2009 2:08pm
Quoting 4cfx
Yes apparently so.

wonder what ecb and boe drama will be like......
  • #131,344
  • May 6, 2009 2:10pm May 6, 2009 2:10pm
TF 4H possible double top.
just giving ideas.
trade well guys.
  • #131,345
  • May 6, 2009 2:12pm May 6, 2009 2:12pm
yeah quite strange...
will be downward break coming if
normal situation back
- Always pray on your trading - God know the best for everyone
  • #131,346
  • May 6, 2009 2:19pm May 6, 2009 2:19pm
The congestion zone from yesterday thru today appears to have been resolved to the upside. 1.5180 is a level that ought to be closely watched if real momentum persists.
Hear the music before the song is over ...
  • #131,347
  • May 6, 2009 2:47pm May 6, 2009 2:47pm
according to RSI its already overbuy
- Always pray on your trading - God know the best for everyone
  • #131,348
  • May 6, 2009 3:00pm May 6, 2009 3:00pm
Quoting kingindian
according to RSI its already overbuy

macd divergence on multiple time frames.... but it still defies gravity.... i agree.... uncommonly fishy...
  • #131,349
  • May 6, 2009 3:05pm May 6, 2009 3:05pm
Quoting Myman
Ubaidahsan, How r u my bro? I have read your posts and it seems that you improve quite a lot. keep up the good work my bro
thanks alot bro you can't get nothing until you want study about it trying my level best learning alot and always try to trade well but you know this market you can't be perfect everyone works with ideas no one knows the future so try my level best and thanks GOD my ideas works and i get out from my trades in profit some time in loss also but try to get out with profit thanks for all time support and guidence keep in touch trade well bro

Ub
  • #131,350
  • May 6, 2009 3:06pm May 6, 2009 3:06pm
Quoting smartalicus
macd divergence on multiple time frames.... but it still defies gravity.... i agree.... uncommonly fishy...

Im very confused - GBP is appreciating and there isnt a reason for it as such - I can see why USD may depreciate but whats happened since FTSE closed thats so GBP positive?
  • #131,351
  • May 6, 2009 3:07pm May 6, 2009 3:07pm
Quoting smartalicus
macd divergence on multiple time frames.... but it still defies gravity.... i agree.... uncommonly fishy...
It's situations like these that require extra caution. If the market is acting "illogical" then it may be trying to tell us something!
Hear the music before the song is over ...
  • #131,352
  • May 6, 2009 3:13pm May 6, 2009 3:13pm
Quoting GlobalMacro
It's situations like these that require extra caution. If the market is acting "illogical" then it may be trying to tell us something!
This could be a bull trap. The overall long term trend is still bearishso any uptrend is still correction until 200SMA is breached.
  • #131,353
  • May 6, 2009 3:29pm May 6, 2009 3:29pm
Current momentum is to the upside. Of course it could reverse abruptly at any time but Newton's law says: a body maintains its current velocity until some external force is exerted upon it...
Attached Image
Hear the music before the song is over ...
  • #131,354
  • May 6, 2009 3:30pm May 6, 2009 3:30pm
Quoting 4cfx
This could be a bull trap. The overall long term trend is still bearishso any uptrend is still correction until 200SMA is breached.
sell again at 5137 with stop loss of 5180

wish me luck

Ub
  • #131,355
  • May 6, 2009 3:32pm May 6, 2009 3:32pm
Quoting GlobalMacro
Current momentum is to the upside. Of course it could reverse abruptly at any time but Newton's law says: a body maintains its current velocity until some external force is exerted upon it...
Momentum is up agreed - however daily chart was showing a correction to come - newtons law also govern a bouncing ball - this is einsteins theory of relativity here ! hehe
  • #131,356
  • May 6, 2009 3:33pm May 6, 2009 3:33pm
Quoting GlobalMacro
Current momentum is to the upside. Of course it could reverse abruptly at any time but Newton's law says: a body maintains its current velocity until some external force is exerted upon it...
hahah you right newton law is superb sure it will down tonight


Ub
  • #131,357
  • May 6, 2009 3:35pm May 6, 2009 3:35pm
hello jack how are you today any trade for today??what about your short??

Ub
  • #131,358
  • May 6, 2009 3:39pm May 6, 2009 3:39pm
Quoting ubaidahsan
hahah you right newton law is superb sure it will down tonight


Ub
Remember the above outline refers to the long-term picture. Intraday or short-term moves have their own distinct mechanics.However, when faced with ambiguity and apparent "illogical" market action it might be useful to fall back upon the longer-term perspective and their to work thru the cobwebs from there.
Hear the music before the song is over ...
  • #131,359
  • May 6, 2009 3:48pm May 6, 2009 3:48pm
Quoting 4cfx
This could be a bull trap. The overall long term trend is still bearishso any uptrend is still correction until 200SMA is breached.
Shorting now.

http://jackcanadia.blogspot.com/
  • #131,360
  • May 6, 2009 3:49pm May 6, 2009 3:49pm
Quoting ubaidahsan
hello jack how are you today any trade for today??what about your short??

Ub
The 5120 short from yesterday was closed +70 and change.
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