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Cable Update (GBPUSD)

  • #133,441
  • May 21, 2009 2:07am May 21, 2009 2:07am
Quoting free4440273
Gotta agree with GB (nice chart also): next medium-term level could be 1.70 (and then perhaps 2.10??). Anyhow, that does not stop us day-trading
Hey Free, what's up?
Yeah I know we're stuck in day trading, condemned to fry our brains scalping...wish I were someone like Soros-man or somethin' went long left my workstation and went on to the beach, had a lot of fun, came back in september and took my profit.....yes at these heights lack of oxygen can cause day-dreaming (hallucination..lol)....
Hear the music before the song is over ...
  • #133,442
  • May 21, 2009 2:08am May 21, 2009 2:08am
Quoting jack.canadia
When you wrote this, price was on its way to 5705 and when it got there, it eventually rallied well beyond there.

So anyone that did take that signal, immediately lost and was never in profit. No bullshit signals around here without analysis. It's people like you that lead to some newbies here losing money.
Right on! Glad someone is a realist here.... You will make good Doctor!
  • #133,443
  • May 21, 2009 2:12am May 21, 2009 2:12am
Quoting GlobalMacro
Hey Free, what's up?
Yeah I know we're stuck in day trading, condemned to fry our brains scalping...wish I were someone like Soros-man or somethin' went long left my workstation and went on to the beach, had a lot of fun, came back in september and took my profit.....yes at these heights lack of oxygen can cause day-dreaming (hallucination..lol)....
LOL
  • #133,444
  • May 21, 2009 2:13am May 21, 2009 2:13am
Quoting jack.canadia
Gap meaning, for instance, on Oct 27 the market opened at 1.5750 but closed the week before at 5913. It 'gapped' down over the weekend. I say old since this occured last year.

Even though this gap has been 'filled' it still nonetheless will serve as an area of support/resistance. So between those two price levels is a high probability for price to find its 'ultimate' resistance before heading down. But at I said confirmation on a higher timeframe would be needed to confirm any turns.
Many thanks.

Here's my wave analysis based on daily. It seems to me that wave C will probably end around 1.60 before turning. This also coincides with the wavecount on the USD index (projected to go to about 80). And based on someone else's delta analysis in another forum, a new intermediate term high will be set by around 27 May.

Please feel free to comment (this extends to everyone).

Attached Image (click to enlarge)
Click to Enlarge Name: Cable Daily 21052009.jpg Size: 103 KB
  • #133,445
  • May 21, 2009 2:13am May 21, 2009 2:13am
Quoting jack.canadia
I am looking at taking a USA/CAD long and a AUD/USD short, along with GBP/USD short and EUR/USD short.

Whichever one looks better.
Hi Jack.. R u shortng G/U now??
All time frame show uptreand..
Especially 1hr frame.. there still have power to push up..
http://www.forexfactory.com/images/icons/icon6.gif
  • #133,446
  • May 21, 2009 2:16am May 21, 2009 2:16am
If u guys that short...atleast tell the less experienced traders that u are trading from a resistance level for some 20-30 pips and not long term(i hope, unless u are god and know where the peak is) we are here to make money and have conversations while doing that. Dont try to outsmart the market, unless u are planning to visit UK and get a better exchange rate(u can buy both ways in 4x), follow the trend and u will be just fine.
  • #133,447
  • May 21, 2009 2:18am May 21, 2009 2:18am
Quoting 4cfx
Many thanks.

Here's my wave analysis based on daily. It seems to me that wave C will probably end around 1.60 before turning. This also coincides with the wavecount on the USD index (projected to go to about 80). And based on someone else's delta analysis in another forum, a new intermediate term high will be set by around 27 May.

Please feel free to comment (this extends to everyone).

Attachment
Today i was looking through some historic data and noticed that the month of May is always one of the most bullish months...i was very surprised...just like september is a bear month.
  • #133,448
  • May 21, 2009 2:20am May 21, 2009 2:20am
Retail sales at 9.30, be careful guys.
  • #133,449
  • May 21, 2009 2:29am May 21, 2009 2:29am
Quoting 4xHero
Today i was looking through some historic data and noticed that the month of May is always one of the most bullish months...i was very surprised...just like september is a bear month.
What's happened to the old saying sell in May go away?
  • #133,450
  • May 21, 2009 2:32am May 21, 2009 2:32am
Quoting free4440273
Retail sales at 9.30, be careful guys.

Agreed, if nothing lines up in 15-30mins I will wait until 5mins after to look again. Each to their own but they are my rules.

Looking at the overnight highs and lows seems we are 'trapped' so anything right now is a 'punt' in my book
  • #133,451
  • May 21, 2009 2:38am May 21, 2009 2:38am
Quoting Marj
Agreed, if nothing lines up in 15-30mins I will wait until 5mins after to look again. Each to their own but they are my rules.

Looking at the overnight highs and lows seems we are 'trapped' so anything right now is a 'punt' in my book
Absolutely (Gotta feel sorry for those guys who were short with that near 300 pip move upside yesterday)
  • #133,452
  • May 21, 2009 2:40am May 21, 2009 2:40am
Quoting free4440273
Absolutely (Gotta feel sorry for those guys who were short with that near 300 pip move upside yesterday)

Check my posts being saying buy all week
  • #133,453
  • May 21, 2009 2:49am May 21, 2009 2:49am
Quoting Marj
Check my posts being saying buy all week
Hi Marj, so u still long today..??http://www.forexfactory.com/images/icons/icon6.gif
  • #133,454
  • May 21, 2009 2:54am May 21, 2009 2:54am
How r u people today? doing anything significant today guys?
  • #133,455
  • May 21, 2009 3:00am May 21, 2009 3:00am
Quoting yauming
Hi Marj, so u still long today..??http://www.forexfactory.com/images/icons/icon6.gif

Still carrying a long from yesterday, 15521 as posted only carrying 25% of it. Lets see what the news brings nothing lining up yet for me.

As the quote goes 'trend is friend' better to miss the first 'bus' but not catch the last if you know what I mean
  • #133,456
  • May 21, 2009 3:08am May 21, 2009 3:08am
Quoting Marj
Check my posts being saying buy all week
Congratulations.
Probability Professor
  • #133,457
  • May 21, 2009 3:10am May 21, 2009 3:10am
Here's an hourly Heikin-Ashi view. 1.5727 is support for now but momentum waning. Best wait until after Retail Sales.
Attached Image
Hear the music before the song is over ...
  • #133,458
  • May 21, 2009 3:11am May 21, 2009 3:11am
GbpUsd need a correction before resuming up trend.
I expect it go to 1.5645/1.5550. Expecting only...

If it break 1.5812, may be the correction cancel and go up.
Cant say anything actually...
ABCD..
  • #133,459
  • May 21, 2009 3:11am May 21, 2009 3:11am
Quoting Marj
Still carrying a long from yesterday, 15521 as posted only carrying 25% of it. Lets see what the news brings nothing lining up yet for me.

As the quote goes 'trend is friend' better to miss the first 'bus' but not catch the last if you know what I mean
I can see from 1hr frame, the distance between 5800 and ema62 is big now..
I predict it will drop to 5600 tonight.. High possiblity..
What is ur comment??http://www.forexfactory.com/images/icons/icon6.gif
  • #133,460
  • May 21, 2009 3:14am May 21, 2009 3:14am
But when exactly this GBP"S Going to come down Is it going to climb like king kong all through.I have been short on gbpchf, i was positive +100 without stop loss, out to check on something for just 1:30 min, on coming back zooom -250 pips negative.oooppsss what do i do
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