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Cable Update (GBPUSD)

  • #131,601
  • May 8, 2009 12:27pm May 8, 2009 12:27pm
tf 4h H&S formation,sell limit at 1.5173
  • #131,602
  • May 8, 2009 12:29pm May 8, 2009 12:29pm
sell at 1.5173 or 1.5161
fibo dont fail me.
  • #131,603
  • May 8, 2009 12:31pm May 8, 2009 12:31pm
Quoting EricB
Gentlemen I am perplexed again on why this thing is rising when all indication should be for it to move down. Inzider - anything on your harmonics?! The daily and 60 minute charts were pointing oppsite.
It's simply feeding off USD weakness elsewhere, particularly vs EUR. Nothing in GBP itself.

It should now tail off from 1.5139 according to my chart.

Just shorted again.
  • #131,604
  • May 8, 2009 12:33pm May 8, 2009 12:33pm
Is anyone else seeing a possible head and shoulders on the H1 @ 1.5152?
  • #131,605
  • Edited 12:45pm May 8, 2009 12:41pm | Edited 12:45pm
brothers,
u can see it clearly on 4H time frame
sell on top @ 1.5173 or 1.5166
sellin it on the tail.
TP 1.4898=daily 38.2 fibo
maybe next week shall be a great fall
  • #131,606
  • May 8, 2009 12:45pm May 8, 2009 12:45pm
Quoting rb26dett
brothers,
u can see it clearly on 4H time frame
sell on top @ 1.5173 or 1.5161
sellin it on the tail.
TP 1.4898=daily 38.2 fibo
maybe next week shall be a great fall
I hope so - even though its a speculative market - some rules should apply to positioning of currency - its understandable why the EUR is where it is - but we must be joking ourselves if GBP should sit above 1.50 when there is hardly any recovery just optimism and escape from reality. Im sure some big shorters are lining themselves to short DJ big time. 10 Years continuouse leveraging got us here - surely cant be finxed in 6 months??!
  • #131,607
  • May 8, 2009 12:45pm May 8, 2009 12:45pm
I don't know - I see a lot of momentum. I see a possible shifting of the market around 1.5173. I am keeping a tight stop because of that. However, I will ride the trend as long as I can. Once it over, I'll shift gears and ride it the other way!

J
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  • #131,608
  • May 8, 2009 1:05pm May 8, 2009 1:05pm
sell limit hit at 1.5173
  • #131,609
  • May 8, 2009 1:08pm May 8, 2009 1:08pm
Quoting Inzider
Bearish W 1htf

PRZ = 1.5169/1.5144

Wish u luck!
Sometimes i'm wrong sometimes i'm wright.
200 pips call...

anyway.. time to short for me... since 71....

Good trade all!
  • #131,610
  • May 8, 2009 1:10pm May 8, 2009 1:10pm
"hardly any recovery just optimism and escape from reality"

That's what moves the market - Emotions!

J
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  • #131,611
  • May 8, 2009 1:11pm May 8, 2009 1:11pm
Quoting rb26dett
sell limit hit at 1.5173
sell @ same code praying for it to go down my another account is stuck in sells

Ub
  • #131,612
  • May 8, 2009 1:13pm May 8, 2009 1:13pm
Quoting Inzider
Sometimes i'm wrong sometimes i'm wright.
200 pips call...

anyway.. time to short for me... since 71....

Good trade all!
can u share the reason please. Keen to learn..

thanks..
  • #131,613
  • May 8, 2009 1:14pm May 8, 2009 1:14pm
Quoting ubaidahsan
sell @ same code praying for it to go down my another account is stuck in sells

Ub
Ive just gone through all the bearish engulfing daily candles to 2004 - none have a candle remotely the shape and size this one is taking - its ridiculous!
  • #131,614
  • May 8, 2009 1:17pm May 8, 2009 1:17pm
Quoting ubaidahsan
sell @ same code praying for it to go down my another account is stuck in sells

Ub
fibos are magic numbers,u dont need to pray as it is shaping the right shoulder bros....
so dont need to worry,have a Sl in sight,take care.
  • #131,615
  • May 8, 2009 1:19pm May 8, 2009 1:19pm
Quoting EricB
Ive just gone through all the bearish engulfing daily candles to 2004 - none have a candle remotely the shape and size this one is taking - its ridiculous!
Yep
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  • #131,616
  • May 8, 2009 1:22pm May 8, 2009 1:22pm
Free fall coming?
hope it sweeps my floating at 5136, 5129 and 5112
enough to fall about 60 from now...
- Always pray on your trading - God know the best for everyone
  • #131,617
  • May 8, 2009 1:30pm May 8, 2009 1:30pm
Quoting kingindian
Free fall coming?
hope it sweeps my floating at 5136, 5129 and 5112
enough to fall about 60 from now...
i wish too atlesaet 60-70 can save my account because at NFP event time i entered short with 10lots wrongly in my one of account and that account is stuck i locked that one but now closed buy and waiting to it down..

Ub
  • #131,618
  • May 8, 2009 1:30pm May 8, 2009 1:30pm
Quoting koboiFX
can u share the reason please. Keen to learn..

thanks..
http://www.harmonictrader.com/batbearre.jpg
Attached Image (click to enlarge)
Click to Enlarge Name: 1hgu 8-05-09.jpg Size: 73 KB
  • #131,619
  • May 8, 2009 1:38pm May 8, 2009 1:38pm
Quoting ubaidahsan
i wish too atlesaet 60-70 can save my account because at NFP event time i entered short with 10lots wrongly in my one of account and that account is stuck i locked that one but now closed buy and waiting to it down..

Ub
No wishing in this game - cut loses and turn off computer. Come back next week fresh!
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  • #131,620
  • May 8, 2009 1:39pm May 8, 2009 1:39pm
Quoting Inzider
http://www.harmonictrader.com/batbearre.jpg
Thanks for sharing. This stuff seems like rocket science compared to my prefered set-up: KISS.
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