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Cable Update (GBPUSD)

  • #132,521
  • May 15, 2009 8:43am May 15, 2009 8:43am
Shame H&S hasn't played out. Previous short got stopped at breakeven. Now shorted again at 1.5280. wave c down is still due imo.
  • #132,522
  • May 15, 2009 8:49am May 15, 2009 8:49am
it is difficult to trade with big interests with sole intention to take out retail minute traders like us............I am off see how this pans out.........
BANDA333
  • #132,523
  • May 15, 2009 9:04am May 15, 2009 9:04am
Quoting 4xHero
Its funny we want this h&s to work but if u remember last week there was one too, and that was very short lived...wait that was 2 weeks ago, man time flys.
i guess what i thought turned out to be true...
  • #132,524
  • Edited 9:30am May 15, 2009 9:05am | Edited 9:30am
Quoting free4440273
time to short from here??
Even though my t/p calculations are 5310, im having a hard time believing that...4hr chart trend line was hit with this spike up...looks like it isnt gonna breaks it...i think it will hit that 53 level after 10PST(just my guess if it goes there)
...5190 would be a great place to go long from...
  • #132,525
  • May 15, 2009 9:31am May 15, 2009 9:31am
Quoting 4cfx
Shame H&S hasn't played out. Previous short got stopped at breakeven. Now shorted again at 1.5280. wave c down is still due imo.
It is ashame yes.... but look on the bright side, nothing gain nothing lost. I to slap her down again @ 1.5270.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #132,526
  • May 15, 2009 9:32am May 15, 2009 9:32am
Quoting 4cfx
Shame H&S hasn't played out. Previous short got stopped at breakeven. Now shorted again at 1.5280. wave c down is still due imo.
Yeah true, but judging from the recent US data we should have anticipated that the US news was ganna be better than expected. Got out with +40 pips though @ 52.05 from last nights short.
Hope USD doesnt get much weaker on risk improvement bcus the oil is gonna go flying (price already x2 since the bottom @ usd 30 a couple of months ago).
  • #132,527
  • May 15, 2009 9:47am May 15, 2009 9:47am
wow blast up...anybody short?
im just thinking to join the trade again....
but...i think time to rest in peace for this week
- Always pray on your trading - God know the best for everyone
  • #132,528
  • May 15, 2009 9:51am May 15, 2009 9:51am
Quoting kingindian
wow blast up...anybody short?
im just thinking to join the trade again....
but...i think time to rest in peace for this week
im planning to go short but at 5300 level

ub
  • #132,529
  • May 15, 2009 10:02am May 15, 2009 10:02am
Quoting ubaidahsan
im planning to go short but at 5300 level

ub
Im planning to go long at 5190/5200 closing at 5310, shorting from there for another 20-30 pips(lets hope it works out)
  • #132,530
  • May 15, 2009 10:04am May 15, 2009 10:04am
Now thats a head and shoulder...i would short but gonna stay out
FUTURE OF MX
  • #132,531
  • May 15, 2009 10:33am May 15, 2009 10:33am
Quoting batwood
Now thats a head and shoulder...i would short but gonna stay out
I'm still set on seeing it play out.
  • #132,532
  • May 15, 2009 10:35am May 15, 2009 10:35am
Hi Jack

Do you have any update on the cable? My wave count is still showing a down wave. What's your view?

Thanks.
  • #132,533
  • May 15, 2009 10:36am May 15, 2009 10:36am
maybe need to take into consideration all these charts for the next trade? thinking of USD/CHF long
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBP.JPG Size: 88 KB
Click to Enlarge Name: EUgbp.JPG Size: 89 KB
Click to Enlarge Name: CHF.JPG Size: 82 KB
BANDA333
  • #132,534
  • May 15, 2009 10:40am May 15, 2009 10:40am
Quoting GlobalMacro
Nice bounce off support.
Exiting long position from 1.5150 @ 1.5250 => +100 pips booked.
Attached Image
Hear the music before the song is over ...
  • #132,535
  • May 15, 2009 10:43am May 15, 2009 10:43am
nice play global macro!
- Always pray on your trading - God know the best for everyone
  • #132,536
  • May 15, 2009 10:44am May 15, 2009 10:44am
Yes there are head and shoulders on several pairs now - USD CHF, EUR USD, USD CAD and GBP USD.

The patterns have been damaged by Friday position closures.
Gone to a better place
  • #132,537
  • May 15, 2009 10:46am May 15, 2009 10:46am
Quoting kingindian
nice play global macro!
Thanks, buddy!
Hear the music before the song is over ...
  • #132,538
  • May 15, 2009 10:57am May 15, 2009 10:57am
USD gaining strength accross the board - check USD/CHF
  • #132,539
  • May 15, 2009 11:01am May 15, 2009 11:01am
I took a small long USD/CHF from 1.1050
BANDA333
  • #132,540
  • May 15, 2009 11:01am May 15, 2009 11:01am
Quoting EricB
USD gaining strength accross the board - check USD/CHF
SNB intervention? I can't see anything driving that spike. Is anyone aware of anything else?
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