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Cable Update (GBPUSD)

  • #135,221
  • Jun 3, 2009 4:31am Jun 3, 2009 4:31am
Anyone planning to go long at 6505? Missed the down, damn. Wish I was awake.
  • #135,222
  • Jun 3, 2009 4:33am Jun 3, 2009 4:33am
Quoting 4cfx
Hi wormboy, my wavecount has room for one more leg up before the big retrace down to 1.53 area.


What wave count... Elliot-wave or what. My Bias is "SHORT"
  • #135,223
  • Jun 3, 2009 4:33am Jun 3, 2009 4:33am
Quoting Laborant
Hello everybody, I need to know one thing. Please let me know. even though GBP PMI number came out very good the GBPUSD fell down. What is the reason? Actually GBP needs to be more stronger against dollar because PMI indicator came out pretty good. Buy it went down What is the reason for that?
i'm asking the same question.the news has been consistent for a couple of months and should have rallied to about 70pips with that
  • #135,224
  • Jun 3, 2009 4:42am Jun 3, 2009 4:42am
Hi Deboooo, hows it going bro. Not heard much from you the last couple of days. Hows it gone for you today?
You've got to be IN IT to WIN IT!
  • #135,225
  • Jun 3, 2009 4:42am Jun 3, 2009 4:42am
Maybe the $ is rallying?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #135,226
  • Jun 3, 2009 4:43am Jun 3, 2009 4:43am
Quoting Laborant
Hello everybody, I need to know one thing. Please let me know. even though GBP PMI number came out very good the GBPUSD fell down. What is the reason? Actually GBP needs to be more stronger against dollar because PMI indicator came out pretty good. Buy it went down What is the reason for that?

its difficult to answer. I was also hoping the positive news would push cable higher. I suppose that cable has moved up so much recently that even though this is very good news the pair is becoming exhausted. I still think it will go up. Take a look to see what the FSTE is doing, cable usually follows FTSE quite closley esp. before usa open. at the moment foostsie is down so try to find out why.

i dont use indicators just support & resistance and a little bit of jap candle analysis. I just read alot of news and try to gauge sentiment, this usually works out well for me. I swing trade, sometimes i might only have one trade in a week (never leave anything over the weekend though), so I trade higher TF; 4hr and daily with a little 1hr to keep an eye on things.

good luck.
  • #135,227
  • Jun 3, 2009 4:44am Jun 3, 2009 4:44am
Quoting Laborant
Hello everybody, I need to know one thing. Please let me know. even though GBP PMI number came out very good the GBPUSD fell down. What is the reason? Actually GBP needs to be more stronger against dollar because PMI indicator came out pretty good. Buy it went down What is the reason for that?
I seem to be asking myself the same question....the figure came out pretty good and strong, which ought to have pushed the cable up for 50pips, perhaps someone knows something we dont know.....
  • #135,228
  • Jun 3, 2009 4:45am Jun 3, 2009 4:45am
I will share with you how I got my perfect TP level at 1.6515.

Its very easy and when it happens, price usually stalls before continuing or its a fake BO and price goes straight against you after hitting it.

on 15m timeframe, starting at first black candle, if all candles that follow are also black, TP is at ATR/2

as you can see first black candle opens at 1.6630 and previous daily ATR is 230pips, so TP is 230/2=115
  • #135,229
  • Jun 3, 2009 4:45am Jun 3, 2009 4:45am
a hammer forming on the 15min chat.anybody thinking of going long?
  • #135,230
  • Jun 3, 2009 4:48am Jun 3, 2009 4:48am
Quoting made4life
I seem to be asking myself the same question....the figure came out pretty good and strong, which ought to have pushed the cable up for 50pips, perhaps someone knows something we dont know.....
There's been reuters report that various countries, India, South Korea, Japan etc have come out stating that "there is no alternative to the greenback as the reserve currency".
  • #135,231
  • Jun 3, 2009 4:50am Jun 3, 2009 4:50am
look at

http://www.fxstreet.com/fundamental/economic-calendar/

if theres only one ''!'' I dont rely or worry about it. The deviation with the consensus has to be very high for it to move the currency
  • #135,232
  • Jun 3, 2009 4:50am Jun 3, 2009 4:50am
Quoting pockets99
its difficult to answer. I was also hoping the positive news would push cable higher. I suppose that cable has moved up so much recently that even though this is very good news the pair is becoming exhausted. I still think it will go up. Take a look to see what the FSTE is doing, cable usually follows FTSE quite closley esp. before usa open. at the moment foostsie is down so try to find out why.

i dont use indicators just support & resistance and a little bit of jap candle analysis. I just read alot of news and try to gauge sentiment, this usually...
I hate volatile market, but I need the the answer for the question. PLease anyone help me to clear this out...
  • #135,233
  • Jun 3, 2009 4:54am Jun 3, 2009 4:54am
Quoting Laborant
I hate volatile market, but I need the the answer for the question. PLease anyone help me to clear this out...
Reuters report that a number of countries have confirmed greenback reserve status. See my earlier post.
  • #135,234
  • Jun 3, 2009 4:56am Jun 3, 2009 4:56am
Quoting Laborant
I hate volatile market, but I need the the answer for the question. PLease anyone help me to clear this out...
Listen. If the market seems volatile and you are unsure then simply observe from the sidelines. You don't have to trade every minute of every day, now do you? Relax and try to be patient and WAIT for an opportunity when it suites you.
You've got to be IN IT to WIN IT!
  • #135,235
  • Jun 3, 2009 4:56am Jun 3, 2009 4:56am
I'm trying to get an entry around 1.6500
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  • #135,236
  • Jun 3, 2009 4:57am Jun 3, 2009 4:57am
Really is it important ...as to why?

Quoting Laborant
I hate volatile market, but I need the the answer for the question. PLease anyone help me to clear this out...
Attached Image (click to enlarge)
Click to Enlarge Name: 30) gbpusd d1 3nd june.gif Size: 21 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #135,237
  • Jun 3, 2009 4:57am Jun 3, 2009 4:57am
volatily is sometimes a very good thing, for quick pips, just have to know when and how to exit
  • #135,238
  • Jun 3, 2009 4:59am Jun 3, 2009 4:59am
Did anybody get my simple TP strategy? It has been very usefull to me over the years
  • #135,239
  • Jun 3, 2009 5:00am Jun 3, 2009 5:00am
Quoting islandtrader
I'm trying to get an entry around 1.6500
Short or long?
  • #135,240
  • Jun 3, 2009 5:01am Jun 3, 2009 5:01am
Quoting leosfx
Did anybody get my simple TP strategy? It has been very usefull to me over the years
Yes thanks. Will certainly bear that in mind.
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