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Cable Update (GBPUSD)

  • #133,581
  • May 21, 2009 4:36am May 21, 2009 4:36am
Quoting wormboy
Hehe, I was just joking brother.
i know la bro
You gotta understand Men and Woman is wired differently.
  • #133,582
  • May 21, 2009 4:38am May 21, 2009 4:38am
Quoting hanif328
Hmmmmmmmmmmmmmmmmmmmmmmm yummy!!!

GBP/USD
GBP/CHF
GBP/JPY
EUR/GBP

damn!!! =D combined,.....about 1000pips+ with 100,000 units!!

holyshit!!

Champagne anyone?? LOL
You would be buying more than champagne with the profit. You need to think bigger.

Obama is on the phone. He is going to write a law to where you are now responsible for paying the US debt. Good luck on that. You just paid the first One Billion dollars towards the debt.

Put on your boots guys because the BS is getting deep in here. LOL.
  • #133,583
  • May 21, 2009 4:40am May 21, 2009 4:40am
good day Buyer!!
  • #133,584
  • May 21, 2009 4:46am May 21, 2009 4:46am
I think this reversal is going to fizzle out here. The First fib level is at 1.5624. The EMA on the 5 minute is at 1.5646. The central pivot for the session is at 1.5663. The 5 minute stochastic is in overbought territory (this doesn't mean much though).

Could be wrong. It could go further but I am now going to wait and see. Might be closing profits here though. I'll give it at least 5 more minutes.
  • #133,585
  • May 21, 2009 4:50am May 21, 2009 4:50am
I already take 50 pips from harami

Attached Image (click to enlarge)
Click to Enlarge Name: forex.gif Size: 13 KB


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Support resistance

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  • #133,586
  • May 21, 2009 4:51am May 21, 2009 4:51am
I just realized that there was a major rejection of the 62 EMA on the 1 hour chart (very important and accurate indicator). I am going to watch this very closely.

We have been over the 62 EMA on the 1H for the last 20 days. If price closes below the 62 EMA than we could see a bigger move down for a little while. Not sure on that though because price could close below for a couple of days and then shoot back over it.
  • #133,587
  • May 21, 2009 4:54am May 21, 2009 4:54am
i got 3800 bucks today done for this month thanx ,i just opened before it falls closed for 260 pips profit thanx guys
  • #133,588
  • May 21, 2009 4:54am May 21, 2009 4:54am
Price just hit the Central pivot at 1.5663 and bounced back and hesitated. If price closes above this at 2:55 PST then it could very well continue up further on the reversal. I love watching this stuff.
  • #133,589
  • May 21, 2009 4:55am May 21, 2009 4:55am
Quoting Forexpreneur
Here are the fibonacci levels for this move if any are interested.

Retracement

38.2% = 1.5624
50% = 1.5658
61.8% = 1.5693
what move are you talking about, bullish or bearish
  • #133,590
  • May 21, 2009 4:57am May 21, 2009 4:57am
Price broke the Central pivot point AND the 50% retracement. Looking very good to go on up to the 61.8% retracement at 1.5693. This is a better retracement than I thought. I am glad I stayed in. I was about ready to take profits.
  • #133,591
  • May 21, 2009 4:58am May 21, 2009 4:58am
i sold at 5660 let's see where it goes now
  • #133,592
  • May 21, 2009 5:00am May 21, 2009 5:00am
+120 pips,done for today happy trading


  • #133,593
  • May 21, 2009 5:00am May 21, 2009 5:00am
hi bro I too sold at 15658 will target 62 ema on 4 hr chart at 15293. What is ur opinion bro?

Balaji

Quoting Clouds
i sold at 5660 let's see where it goes now
  • #133,594
  • May 21, 2009 5:02am May 21, 2009 5:02am
Man. It has been awhile since I have seen moves like this. 75 PIPS in 5 minutes. That is sick. I just closed at 1.5650 for a 100 PIP profit on this retracement. I am done for the day. However I am going to watch for a little while. This is interesting stuff today.
  • #133,595
  • May 21, 2009 5:04am May 21, 2009 5:04am
Quoting balajis
hi bro I too sold at 15658 will target 62 ema on 4 hr chart at 15293. What is ur opinion bro?

Balaji
i think it's ok, but depends where it close today, it seems all over the board today, but i think the movement is going to be down.
  • #133,596
  • May 21, 2009 5:06am May 21, 2009 5:06am
Quoting Clouds
i think it's ok, but depends where it close today, it seems all over the board today, but i think the movement is going to be down.
Sold at 5650, SL at 5690. OK?
  • #133,597
  • May 21, 2009 5:10am May 21, 2009 5:10am
Quoting Marj
Agreed, or leaked as mentioned earlier. Plus after a big move a down like that triggers sell orders and the more triggered the further the drop. Its all part and parcel of trading we see it every now and again. But rarely so big and fast....

To all the newbies see how much you could loose in an hour with no stop loss.......
Exactly and a very good point. I preach stop losses. I just posted last night about stop losses because anything can happen. Your electricity can go out. Your computer can break. Your broker's system can go dead. A severe event like 9/11 can come out of the blue. Someone like King can say something in an obscure speach and cause the markets to move drastically. Who knows. With a stop loss you don't have to know and still be safe.

Nice for you to bring it up. Cheers.
  • #133,598
  • May 21, 2009 5:11am May 21, 2009 5:11am
Lot of guys sticking to Technical s which was created by this crazy move up. If you look at U.K econ numbers going long on GBP would be a disaster. Yes I lost big time on shorts .........I was nearly getting the margin call..........but I kept my shorts ...........it helped a bit.............but hoping to recover a bit from this short squeeze orchestrated those who wanted get SL.
BANDA333
  • #133,599
  • May 21, 2009 5:13am May 21, 2009 5:13am
Quoting hatisenang
Waiting for stochastic u-turn & scalp the retrace until touch the heiken-ashi.. huhuhu..

See... its (GBPJPY) really touched the ashi ...

http://img39.imageshack.us/img39/1043/cable.gif
  • #133,600
  • May 21, 2009 5:14am May 21, 2009 5:14am
Quoting pircj
Sold at 5650, SL at 5690. OK?
i would consider such a stop loss too tight for todats volatility.might take it out and retrace in the US session.my opinion please.
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