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Cable Update (GBPUSD)

  • #132,101
  • May 13, 2009 11:45am May 13, 2009 11:45am
Quoting forex_sake
Humble pie time !!
S/L too tight, got taken out by whip saw.

I still believe it will go down to at least 1.5100 (if not my original price of 1.5090) so willing to put my money where the price is! Short again at 1.5190.
We have done 246 pips already and daily average is 211.... just a int!
DOW hold 8300.


I can be wrong....
  • #132,102
  • May 13, 2009 11:46am May 13, 2009 11:46am
Quoting *Pipster*
You forgot to pray this time... Or maybe this time you're 100% sure!

Good luck.
Thanks.

No, I did pray the first time as well, but I think it got lost in translation

Btw, I'm not a sure thing so still not 100% this time either but all in all had a good day today (taking out the previous trade, up 180 pips so can't complain )
  • #132,103
  • May 13, 2009 12:03pm May 13, 2009 12:03pm
Beware... 60 mins down, H4 up... and, H4 might have more influence on PA.
  • #132,104
  • May 13, 2009 12:12pm May 13, 2009 12:12pm
Salut

Comment le Québec aujourd'hui ?

Quoting Inzider
We have done 246 pips already and daily average is 211.... just a int!
DOW hold 8300.


I can be wrong....
BANDA333
  • #132,105
  • May 13, 2009 12:31pm May 13, 2009 12:31pm
just went long... speculating gbp wont fall off a cliff after trending upwards so strongly without a fight
  • #132,106
  • May 13, 2009 12:31pm May 13, 2009 12:31pm
seems USD making a northward push.........IMHO test of diagonal trend line very reassuring
Attached Image (click to enlarge)
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BANDA333
  • #132,107
  • May 13, 2009 12:52pm May 13, 2009 12:52pm
Quoting BANDA
Salut

Comment le Québec aujourd'hui ?
Bon jour l'ami!

Very good friend! I catched 3/4 of that drop so i can't be mad today!
I hope everything went nice whit your position you were holding!

Wish u the best!

------------------------

Gartley in progress.... buy at 1.5157 TP 1.5270
Trade at your OWn risk, good trade all!
Attached Image (click to enlarge)
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  • #132,108
  • May 13, 2009 1:01pm May 13, 2009 1:01pm
Quoting Inzider
We have done 246 pips already and daily average is 211.... just a int!
DOW hold 8300.


I can be wrong....
I agree with you. Unless today is the day the pound decides to extend its usual range, I would lovee to see her travel back to 5230/50.
  • #132,109
  • May 13, 2009 1:16pm May 13, 2009 1:16pm
Trade in progress Sl at 1.5125 enter at 1.5157 TP a.5270

-----------------------


i bet on ranging until next news, why drop 500 pips, no reason, its only fear, profit taking since no economic news are that dramatic...

just a rest! my 2 cents...
  • #132,110
  • May 13, 2009 1:31pm May 13, 2009 1:31pm
The spread on FXCM for GBPUSD is 4.5 - 5 at the moment! Normally it ranges from 2 to 3 (sometimes a little lower)... I don't understand why it's so high right now. On Oanda it's 2.3.
Doh! I didn't mean to do that.
  • #132,111
  • May 13, 2009 1:53pm May 13, 2009 1:53pm
Quoting *Pipster*
The spread on FXCM for GBPUSD is 4.5 - 5 at the moment! Normally it ranges from 2 to 3 (sometimes a little lower)... I don't understand why it's so high right now. On Oanda it's 2.3.
The london session closes at 11:00 AM EST, after this trading volume drops significantly, and in low trading volumes, spreads tend to widen.

A sure sign that you should maybe walk away and do something else. Price is between two levels, 5100 and 5300/50. Short near the top or long near the bottom of the range, in the middle is too risky.
  • #132,112
  • May 13, 2009 1:57pm May 13, 2009 1:57pm
Quoting jack.canadia
The london session closes at 11:00 AM EST, after this trading volume drops significantly, and in low trading volumes, spreads tend to widen.

A sure sign that you should maybe walk away and do something else. Price is between two levels, 5100 and 5300/50. Short near the top or long near the bottom of the range, in the middle is too risky.
Yeah, that's what they told me... but I'm on here everyday around the same times and I'm pretty sure the spread isn't usually this high at that time... that's why I was a little surprised.

Thanks for the tips.
Doh! I didn't mean to do that.
  • #132,113
  • May 13, 2009 2:00pm May 13, 2009 2:00pm
Quoting *Pipster*
The spread on FXCM for GBPUSD is 4.5 - 5 at the moment! Normally it ranges from 2 to 3 (sometimes a little lower)... I don't understand why it's so high right now. On Oanda it's 2.3.
The thing is so unpredictable at this level that they prefer to back themself... poor thing! I use FX pro, never over 3 and sometimes less...
  • #132,114
  • Edited 3:13pm May 13, 2009 2:12pm | Edited 3:13pm
Quoting Inzider
Trade in progress Sl at 1.5125 enter at 1.5157 TP a.5270
the call gived 17 pips on first strike, i'm still in cuted 1/2 at 1.5175.
We could see a M at the bottim of this down move, next Tp is at 1.5195, then going back at 1.5111 then 1.5270 and finaly maby 1.55....

OK... we'll see for the 1.55 LOL

Good trade all!
  • #132,115
  • May 13, 2009 2:14pm May 13, 2009 2:14pm
Are the bullish views really supported? We are still in an overall downtrend. The recent up move is only a correction. I grant that the correction may not yet be completed (until we see a clear signal like closing below 1.49), but I see very few reasons to be bullish as yet.

Economic contraction has declined, but growth is going to be painfully slow.
  • #132,116
  • May 13, 2009 2:17pm May 13, 2009 2:17pm
Hey Inzi
Thank you. MY day kinda mixed........I had some loses in GBP/JPY otherwise o.k compared to yesterday. Glad to hear you did well. it was a very fast drop/ from now onwards want to short on each spike they say May is the month for shorts..............
jusqu' à plus tard

Quoting Inzider
Bon jour l'ami!

Very good friend! I catched 3/4 of that drop so i can't be mad today!
I hope everything went nice whit your position you were holding!

Wish u the best!

------------------------

Gartley in progress.... buy at 1.5157 TP 1.5270
Trade at your OWn risk, good trade all!
BANDA333
  • #132,117
  • May 13, 2009 2:17pm May 13, 2009 2:17pm
Quoting zapper
Beware... 60 mins down, H4 up... and, H4 might have more influence on PA.
On the contrary, its the lower timescale that produces the higher timescale.
For H4 to go up H1 much come down.
  • #132,118
  • May 13, 2009 3:19pm May 13, 2009 3:19pm
Hello Jack
there ?
  • #132,119
  • May 13, 2009 3:36pm May 13, 2009 3:36pm
Guys - Im still running shorts even though picture is unclear and im running losses. There are many export based economies that will find the appreciation of the dollar against their local currency problematic considering the recession and will take steps to buy greenback to appreciate it. The US banks want the dollar to appreciate and NY mellon has been one putting speculating bets and driving prices up - their MacDonalds analogy was ridiculous (Bloomberg etc)- there are several many reasons why a burger is cheaper in the UK than in US and Europe than currency reasons - what idots (what about supply and demand!?! ) The US has a bigger demand for the burger - everyone is too optimistic - I am sticking by my theory that this will be a double bottom or lazy L shaped recession - we may have gotten a little ahead of ourselves here... The most important thing was to get the stress tests over and done with as they had become mroe of a headache than a good idea - now that this is over maybe they will stop manipulating numbers and the news will reflect how economy is really going to take shape.
  • #132,120
  • May 13, 2009 3:54pm May 13, 2009 3:54pm
Quoting "expert"
Hallo to you all.Who knows me ok who dont will now.I am sorry to see that theare is no longer some people as well and happy to see so many new one.That tells me that this work will leave forever.That is nice.Now to bussines.

Now heare is some charts and just some possible thinking.For some idea might need some time to play out but..

First mountly chart.ON my platform i cant go back more 1 jan.1986 but as i see 1,4000 level was good support for up moves.1.6900 was good suport and resistance at same time.We are arround 4000 now.Notice yelow...
Hi all.Once again i see many new faces on FF.Happy to see this forex is going on up in that way.Hope others who i don't see still trade.Any way i stoped writing for some time for some my reasons and from time to time make 1 or 2 new one.

To bad i made only 1 long in that time i was writing that post.Idea is to hold that long intill weekly 62 ema or Mountly gann line.They are arround 6300-6400 area for now.In time this lines will fall lower,dont know what number will be at that time.At that time will see what will be mountly RSi number.From theare some short and then more up.You have more charts heare and reasons for that long i made.
http://www.forexfactory.com/showpost...stcount=125412
At that time everyone was writing that cable will go below 3000.Point is when i stoped reading posts i start to make money.But point of this forum is to make posts so... i made one.

Of course if i see big sign writing new down big move will close this long before mountly 62 ema.

Hope you catch that short on yen pairs today.I have some system of mine that worked on cable.Then i start to trade Euro.Then yen.I am trying to say good system works on every pair. and when no set up for trade on cable will be on some other place.And i am for sure trading now on higher TF.Much easyer and not all the time at computer as for sculping.

See ya all soon i hope with happy face
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