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Cable Update (GBPUSD)

  • #134,321
  • May 27, 2009 3:34am May 27, 2009 3:34am
BBA Mortgage Approvals were better than last month, an increase of 1600 but worse than Expected. Actual was 27.7K and Expected was 29.1k and last month was 26.1k
  • #134,322
  • May 27, 2009 3:36am May 27, 2009 3:36am
This could just be a short pause but there are some exhaustion candles on the 5 minute which is exactly at the 25 EMA on the 15 minute. Not sure what to make of it yet because it could be a little breather or it could be true exhaustion. We'll see.
  • #134,323
  • May 27, 2009 3:39am May 27, 2009 3:39am
Quoting GlobalMacro
There're some key points that need to be differentiated in this debate:

- Steve Nison's coverage of Bu.En. is mainly a rough model on daily charts
- Bullish Engulfing is a bottom reversal pattern and not a continuation
pattern
- Thorough historical intraday backtest results indicate a statistical edge
only at the bottom (preferrably w/ a subsequent double bottom setup)
not at the top, in fact such a pattern occuring at the top might signal a
stalling in PA but definitely very hazardous indeed to be taken as a
continuation pattern.

Always...
Very interesting. I'll have to e-mail you and look at what you have found. Thank you. I am always up to learning and fine tuning things.
  • #134,324
  • May 27, 2009 3:39am May 27, 2009 3:39am
do u agree?
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Verily, in every difficulties there is relief
  • #134,325
  • May 27, 2009 4:04am May 27, 2009 4:04am
Quoting Blue bottle
Im in LONG for 1st target of 1.6010..
very lucky, managed to close my 1st target.
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  • #134,326
  • May 27, 2009 4:10am May 27, 2009 4:10am
Quoting Blue bottle
very lucky, managed to close my 1st target.

Good job. Nice call.
  • #134,327
  • May 27, 2009 4:11am May 27, 2009 4:11am
I personally think it's very likely to break through and hold above 1.60. Potential scenario in my mind is a break up towards 1.62 area, then a retracement down to potentially 1.60 to 1.58 area, then up to test 1.65.

We shall see, we shall see.
Probability Professor
  • #134,328
  • May 27, 2009 4:13am May 27, 2009 4:13am
I can see price teetering around 1.6 for a while, crossing up and below the 1.6 line.
Probability Professor
  • #134,329
  • May 27, 2009 4:14am May 27, 2009 4:14am
congratulation this is 1.6000
GOD SENT.
  • #134,330
  • May 27, 2009 4:16am May 27, 2009 4:16am
Quoting Forexpreneur
Good job. Nice call.
Thanks!!
  • #134,331
  • May 27, 2009 4:17am May 27, 2009 4:17am
gbpusd is getting in to my nerves.
Either fall like crazy or just break the darn channel
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  • #134,332
  • May 27, 2009 4:20am May 27, 2009 4:20am
Quoting Galatasaray
gbpusd is getting in to my nerves.
Either fall like crazy or just break the darn channel
I know what you mean mate.
Thank You
  • #134,333
  • May 27, 2009 4:21am May 27, 2009 4:21am
Quoting sreeprakash
Buying from 1.5982, SL is 40 pips, TP not decided.. Lets see..
In weekly chart I see potential of 1.6800 zone...
However, mine is on profit, but still not decided TP..
Waiting for confirmation to set TP.
ABCD..
  • #134,334
  • May 27, 2009 4:22am May 27, 2009 4:22am
Quoting wormboy
I know what you mean mate.
yeah right?
ı hope the USA data at least gives us a way later. Otherwise i am going to get some beer, snacks and start the joy of tonight's Champions League Final a little bit earlier.
  • #134,335
  • May 27, 2009 4:27am May 27, 2009 4:27am
Quoting Galatasaray
yeah right?
ı hope the USA data at least gives us a way later. Otherwise i am going to get some beer, snacks and start the joy of tonight's Champions League Final a little bit earlier.
Been short since Friday so yea, the waiting is killing me tbh lol.
Save me a seat tho, i'd join you later to watch barca thrash the scums. There is only one Red
Thank You
  • #134,336
  • May 27, 2009 4:30am May 27, 2009 4:30am
Quoting wormboy
Been short since Friday so yea, the waiting is killing me tbh lol.
Save me a seat tho, i'd join you later to watch barca thrash the scums. There is only one Red
praying for barca to destroy man utd.
I wish I could have gone to Rome and watch the game live.
  • #134,337
  • May 27, 2009 4:35am May 27, 2009 4:35am
Quoting wormboy
Been short since Friday so yea, the waiting is killing me tbh lol.
Save me a seat tho, i'd join you later to watch barca thrash the scums. There is only one Red
I will short if it comes to 5785 targeting 5555....
ABCD..
  • #134,338
  • May 27, 2009 4:35am May 27, 2009 4:35am
1.60 gbpusd short..tp : 1.5950
  • #134,339
  • May 27, 2009 4:41am May 27, 2009 4:41am
hi

i long since 1.5968 TP 1.6129 which is important area
  • #134,340
  • May 27, 2009 4:42am May 27, 2009 4:42am
Quoting sreeprakash
I will short if it comes to 5785 targeting 5555....
It'll come
Thank You
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