Cable Update (GBPUSD)

[quote=BANDA;2724069]Hey buddy lets push this lady down........on your mark .....get ready? buddy I will pray for you .........

Hey Buddy,

'Just got back from Mother's Day "din-din",
w/the wife and Grandma...!
Did you just see that P.A. Price Action?! !
Up She went then KA-SLAM, back down buddy...

That was some serious Pimp Slapp Action, back to the down-side.
We'll see... Can go either way, Jack is right,
Let it do what the Market wants, 135 would be nice again
some day... but 151 would be just as fine w/me!!!
Have a Great One Banda,

Jeff !

I can gather from alot of those review of FXCM that its alot of newbies that just dont know what the hell they are doing, and lose, and then out of emotion blame the broker.

This week’s strong equity markets signaled a demand for higher risk assets and helped drive the GBP USD sharply higher. The appreciation in the Pound encouraged traders to forget about the widening U.K. deficit and contracting economy.

The Bank of England also voted to keep interest rates unchanged but managed to implement another round of quantitative easing to the tune of a little more than $75 billion.


The action by the BoE shows that the central bank still believes that the world economy remains in a “deep recession.” Pumping fresh money into the banking and financial system may be its attempt to repair the “fragile” condition that continues to linger after several rounds of quantitative easing.


All the news was not doom and gloom however as the BoE remained slightly optimistic about the economy as “surveys at home and abroad show promising signs that the pace of decline has begun to moderate."
Technically the GBP USD remains in a downtrend on the weekly chart. There is a support base being built, and the chart pattern shows there is room to the upside with 1.7330 the next upside target. The problem is there may not be enough buying interest or momentum to take the market to this retracement level for several months.


Based on the chart pattern and the fundamentals, one more test of the bottom at 1.3501 may be needed to solidify the bottom.

James A. Hyerczyk , ForexHound.com

here is my level chart

100% true on that.

Guys what do you think, will GBPUSD still have the chance to downtrend? to fall down? -_- i have an open positino for sell at 1.5029 -_-

Possibly. Possibly not! We wont know until the damned thing moves.

Please you a stop loss so you dont blame your broker if you lose

I found this in a site EricB sent me, quite funny...

I find it impossible to believe that each and every trade I make could be on the wrong side of the market. Lets be clear I AM a newbie, however, I've been trading on this website off and on for 2 years. No big money, but I find it odd that if I'm putting in a sell or buy, the currency would do the opposite and my money is gone. I've even placed buy and sell on the same currency, and the currency will remain flat. I do my research, look at economic indicators, etc. but Jesus, even statistically, the law of large numbers should say that I'd get it right at least once out of the hundreds of trades and dollars I've placed with this company.

This guy is clearly an idiot.

FXstreet.com (Buenos Aires) - Gbp seems to be the weakest currency in this Asian session, despite 1.5200 static level seems to be holding for now. Indicators in the hourly seem exhausted and suggesting a downside correction as long as early high remains intact.

Valeria Bednarik, collaborator at FXstreet.com said: “Clear break under 1.5286 could signal further losses in the pair, with 20 SMA (clearly bullish) as dynamic support close to the key congestion zone around 1.5110.”


Check this:
http://www.fxstreet.com/technical/cu...spx?id=GBP/USD

This guy is clearly an idiot.[/quote]

I've traded since august last year.... and I still find that hilarious.
dude needs to go rewatch that luke perry film

"not sure, not sure......"

Limit buy at 150 support

Good morning everyone. Here's my attempt at the cable hourly chart. I believe we are at the end of the larger corrective wave 4 from the wave 3 down.

It looks like we are retracing iv of 5 before going up to complete v of 5, whereafter, we should resume wave 5 of larger down trend.

Please feel free to comment.

Hi, Good Week

I short on friday @ 1.5220 and now ... i'm happy

if 1.5083 broke we will see 1.4945

let us see what will happen

i do agree with you and waiting it to cross 5083 i am short too from 5220

Ub

Thats sounds good

i know its still a bit early, but does anyone have a website for live Dow futures please?

You're talking about a strength point of 1.5083? Can I ask where you're getting your strength/resistance/pivot point data from? I've got the S1 at 1.5053 and S2 at 1.4870, from http://www.forexrate.co.uk/pivot_poi...rex_pivots.php

I was [email protected] and closed [email protected], I can not forgive myself only +65 I could have taken more than +100, but it does not matter EUR / USD 2x35 +70
I have finished my day +135 pips.

Morning everyone, I see my TP closed on my Sell, nice start for the week. Keep an eye on this strategy as I still havn't had a failure.

Becareful with hold short at that point...

we have big resistance for cable...

3 Day MA rejected.

http://www.cnbc.com/id/17689937/