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Cable Update (GBPUSD)

  • #132,461
  • May 15, 2009 5:42am May 15, 2009 5:42am
Quoting PipLand
How come?
in my chart ... stoch in 1H was oversold... and i think (my opinion) it will pull up for a while to pivot and if it does move sl to +1 and looking price action in there

happy trade
  • #132,462
  • May 15, 2009 5:44am May 15, 2009 5:44am
Quoting PipLand
Indeed

Im thinking of a target for today and as I think its unlikely we will get a break today (although it is freaky friday so anything can happen)

Im thinking more along the lines of 5030, I think 4xhero was playing a bounce off the 50.0 fib from yesterdays move, we have bounce of the 61.8 fib but I dont think it will bounce far
I'm all for freaky friday my friend.....
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #132,463
  • May 15, 2009 5:47am May 15, 2009 5:47am
Thursday the Euro, GBP and the AUD detained on to achievements made in opposition to the Greenback and the Yen, keeping within prospect of recent highs made as hopefulness has increased that the worst of the worldwide financial quandary may be over.
  • #132,464
  • May 15, 2009 5:49am May 15, 2009 5:49am
Quoting randu
in my chart ... stoch in 1H was oversold... and i think (my opinion) it will pull up for a while to pivot and if it does move sl to +1 and looking price action in there

happy trade
my 1hr stoch isnt oversold yet.. But have a look at the 4hr rsi, stoch and CCI. I dont pay that much attention to indicators but its nice when they agree
  • #132,465
  • May 15, 2009 5:53am May 15, 2009 5:53am
Quoting carl12
Thursday the Euro, GBP and the AUD detained on to achievements made in opposition to the Greenback and the Yen, keeping within prospect of recent highs made as hopefulness has increased that the worst of the worldwide financial quandary may be over.
I think the recent optimism is way over done. Equities might not go any lower and might not even touch the bottom but I expect a big correction in this recent equity rally
  • #132,466
  • May 15, 2009 5:57am May 15, 2009 5:57am
just have some sleep...
nice to see the down..it takes some of TP
i think now it will goes up
yes in RSI H1 still not oversell but an up will happen (taking profit action?)

also at D1 still on uptrend

goodluck all.
- Always pray on your trading - God know the best for everyone
  • #132,467
  • May 15, 2009 6:00am May 15, 2009 6:00am
Quoting kingindian
just have some sleep...
nice to see the down..it takes some of TP
i think now it will goes up
yes in RSI H1 still not oversell but an up will happen (taking profit action?)

also at D1 still on uptrend

goodluck all.
Do u take any position now??
I think it's time to long..
US economy is getting worse.. I can see it from calender..
What do u think?http://www.forexfactory.com/images/icons/icon6.gif
  • #132,468
  • May 15, 2009 6:01am May 15, 2009 6:01am
Quoting yauming
Do u take any position now??
I think it's time to long..
US economy is getting worse.. I can see it from calender..
What do u think?http://www.forexfactory.com/images/icons/icon6.gif

And how will that help your long
  • #132,469
  • May 15, 2009 6:01am May 15, 2009 6:01am
Quoting PipLand
Indeed

Im thinking of a target for today and as I think its unlikely we will get a break today (although it is freaky friday so anything can happen)

Im thinking more along the lines of 5030, I think 4xhero was playing a bounce off the 50.0 fib from yesterdays move, we have bounce of the 61.8 fib but I dont think it will bounce far
yup, good bouce from both 50 and 61% thats 70 pips right there, and these 2 levels just happen to be good support levels.
  • #132,470
  • May 15, 2009 6:02am May 15, 2009 6:02am
Quoting 4xHero
yup, good bouce from both 50 and 61% thats 70 pips right there
Great scalp, nice work there
  • #132,471
  • May 15, 2009 6:05am May 15, 2009 6:05am
To me cable is like a fast car, when it hits something (support, resistance) it bounces from it farther then a bicycle (EU)...usually its atleast 20 pips-40pips
  • #132,472
  • May 15, 2009 6:08am May 15, 2009 6:08am
Quoting yauming
Do u take any position now??
I think it's time to long..
US economy is getting worse.. I can see it from calender..
What do u think?http://www.forexfactory.com/images/icons/icon6.gif
just some floating above honestly
at 5182 and 5202...if its up then it will be good
but if not its ok...already enough for today...

i believe it will going up again to 5200
the reason is just looking at the D1 uptrend

yesterday when peoples predict it will be down, then we know its up to 5200, still D1 not break.

for this friday there is no big surprise i think (till now), you can see it only move from 5244 to 5133 not as big as days ago when GB can move 300 point a day....
- Always pray on your trading - God know the best for everyone
  • #132,473
  • May 15, 2009 6:09am May 15, 2009 6:09am
Quoting 4xHero
To me cable is like a fast car, when it hits something (support, resistance) it bounces from it farther then a bicycle (EU)...usually its atleast 20 pips-40pips
nice analogy!
  • #132,474
  • May 15, 2009 6:13am May 15, 2009 6:13am
Longs playing out pretty nicely so far.
Hear the music before the song is over ...
  • #132,475
  • May 15, 2009 6:14am May 15, 2009 6:14am
Quoting kingindian
just some floating above honestly
at 5182 and 5202...if its up then it will be good
but if not its ok...already enough for today...

i believe it will going up again to 5200
the reason is just looking at the D1 uptrend

yesterday when peoples predict it will be down, then we know its up to 5200, still D1 not break.

for this friday there is no big surprise i think (till now), you can see it only move from 5244 to 5133 not as big as days ago when GB can move 300 point a day....
I would be carefull with your stops and position sizes on that kind of thinking. Your right we havent seen huge moves like in the past months recently, but that is because sentiment has been stabalising and the volatility index has been improving. However the index has started to worsen once again and therefore puts us at risk of bigger moves again.
  • #132,476
  • May 15, 2009 6:22am May 15, 2009 6:22am
Quoting kingindian
just some floating above honestly
at 5182 and 5202...if its up then it will be good
but if not its ok...already enough for today...

i believe it will going up again to 5200
the reason is just looking at the D1 uptrend

yesterday when peoples predict it will be down, then we know its up to 5200, still D1 not break.

for this friday there is no big surprise i think (till now), you can see it only move from 5244 to 5133 not as big as days ago when GB can move 300 point a day....
Today is Friday, surprise or unexpected event will be appeared always in this day.. I've experienced it before..
It is trying to break ema62 and sma62 hr frame..
If it breaks, means it will up..
Do u agree..??http://www.forexfactory.com/images/icons/icon6.gif
  • #132,477
  • May 15, 2009 6:28am May 15, 2009 6:28am
It breaks ema15 and sma15 now..
Will it up to 5300 again..??http://www.forexfactory.com/images/icons/icon5.gif
http://www.forexfactory.com/images/icons/icon6.gif
  • #132,478
  • May 15, 2009 6:29am May 15, 2009 6:29am
Quoting PipLand
my 1hr stoch isnt oversold yet.. But have a look at the 4hr rsi, stoch and CCI. I dont pay that much attention to indicators but its nice when they agree
Not oversold probably because it's been a mere correction/retracement and not an outright bear move.
Hear the music before the song is over ...
  • #132,479
  • May 15, 2009 6:34am May 15, 2009 6:34am
Quoting yauming
Today is Friday, surprise or unexpected event will be appeared always in this day.. I've experienced it before..
It is trying to break ema62 and sma62 hr frame..
If it breaks, means it will up..
Do u agree..??http://www.forexfactory.com/images/icons/icon6.gif
i dont know about ema and dont understand about it
to 5300 is still a maybe for me (to happen today), next week maybe we will at 5300 again..if there is no fundamental problem.
- Always pray on your trading - God know the best for everyone
  • #132,480
  • May 15, 2009 6:36am May 15, 2009 6:36am
Quoting PipLand
I would be carefull with your stops and position sizes on that kind of thinking. Your right we havent seen huge moves like in the past months recently, but that is because sentiment has been stabalising and the volatility index has been improving. However the index has started to worsen once again and therefore puts us at risk of bigger moves again.
Pip, He doesnt use stops so he wont have to worry about them!
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