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Cable Update (GBPUSD)

  • #10,861
  • Apr 20, 2007 1:20am Apr 20, 2007 1:20am
T

Here´s a chart with a wedge / ascending triangle
Attached Image (click to enlarge)
Click to Enlarge Name: 5m cable apr 20 fo.jpg Size: 62 KB
Trading Levels with WRBs
  • #10,862
  • Apr 20, 2007 1:25am Apr 20, 2007 1:25am
Quoting Islander
Darn it, the train left the station without me....too busy reading all the overnight posts!
Looks like the Euro´s breakout to new highs has put some life into the markets
Yeah.. i got left behind too when i was replying on this forum discussing bout the charts.
  • #10,863
  • Apr 20, 2007 1:25am Apr 20, 2007 1:25am
Quoting coshbrewer
Sorry don't know how to post charts but if you look back through the thread around the time of our last posts someone had put a perfect example of what I was talking about with an arrow on it pointing North

monny a mickle macks a muckle
Works for me. Caught 30 pips and it's still going.

Thanks.
  • #10,864
  • Apr 20, 2007 1:26am Apr 20, 2007 1:26am
Cosh.. the ascending triangle is confirmed.. so i agree with u.. its still gonna be bullish. Besides yesterday we also already confirmed that it was a "fake" bear.
  • #10,865
  • Apr 20, 2007 1:35am Apr 20, 2007 1:35am
Quote
Quote:
Originally Posted by Islander http://www.forexfactory.com/images/buttons/viewpost.gif
Darn it, the train left the station without me....too busy reading all the overnight posts!
Looks like the Euro´s breakout to new highs has put some life into the markets

Yeah.. i got left behind too when i was replying on this forum discussing bout the charts.

Me too!!! Ive longed now but at 2.0065 a bit late maybe but still do we have a bull til 9.30 with good retail news approaching the top.

That site http://masterforex.co.uk/Html/FXStation/FXToolz.html is ace. FX total orders is interesting. Cheers thats going into my favourtites
  • #10,866
  • Apr 20, 2007 1:36am Apr 20, 2007 1:36am
Forexmaster Is Back To Make Trade Recommendations.

Anyone Interested?

Forex Tip Of The Day: Stay Cool
Pips till you drop ........... !!
  • #10,867
  • Apr 20, 2007 1:39am Apr 20, 2007 1:39am
UK RETAIL SALES: There's a bit of talk in the UK markets on a possible super-strong March retail sales report. Talk suggests a y/y reading of 5.2% against the market for 4.7%. To get that then the m/m reading (which is the important component of UK retail sales data) would need to be 1.0% - double the market estimate for 0.5%

Interesting
  • #10,868
  • Apr 20, 2007 1:42am Apr 20, 2007 1:42am
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Quoting coshbrewer
He may be knocking but he can't come in!!
Hi,sorry not to reply sooner but it was so slow yesterday I went gardening. The double bottom was a bit premature but the trend line held and it's been creeping up it all night.
My prediction was based on Oanda calendar stating retail sales was due out 9,30am [bst] yesterday but it appears FF was right and it's today so IF it comes in as or better than expected I expect a similar rise today, Ł is not going to drop below $2 anytime soon. Watch for profit taking this afternoon - it's Friday. If it drops to trend line and it holds watch for rapid retracement - we may still be bullish next week
www.chartpatterns.com is a useful site to view - what we've seen over the last 2 days looks like a bull flag or pennant
May reach 2.0200!! but trade what you see
monny a mickle macks a muckle
I saw what I saw via that link. Based on the chart you gave, it's a Symmetrical Triangle or Ascending Triangle??
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #10,869
  • Apr 20, 2007 1:45am Apr 20, 2007 1:45am
Btw Europe market already open now or in another 15 mins? Got confused why suddenly the priced rallied already.
  • #10,870
  • Apr 20, 2007 1:49am Apr 20, 2007 1:49am
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Quoting el_duende
UK RETAIL SALES: There's a bit of talk in the UK markets on a possible super-strong March retail sales report. Talk suggests a y/y reading of 5.2% against the market for 4.7%. To get that then the m/m reading (which is the important component of UK retail sales data) would need to be 1.0% - double the market estimate for 0.5%

Interesting
That's really scary.. Where you got that information?
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #10,871
  • Apr 20, 2007 1:52am Apr 20, 2007 1:52am
If you dont want to lose any pips do not place any short positions today:

NEXT TARGET 2200
Pips till you drop ........... !!
  • #10,872
  • Apr 20, 2007 1:53am Apr 20, 2007 1:53am
Quoting dd33
Btw Europe market already open now or in another 15 mins? Got confused why suddenly the priced rallied already.
Frankfurt Open is at 2am EDT and London Open at 3 am ....usually the Frankfurters have a coffee before starting trading....not today!

http://www.forexfactory.com/images/icons/icon9.gif
Trading Levels with WRBs
  • #10,873
  • Apr 20, 2007 2:08am Apr 20, 2007 2:08am
Quoting Islander
Frankfurt Open is at 2am EDT and London Open at 3 am ....usually the Frankfurters have a coffee before starting trading....not today!

http://www.forexfactory.com/images/icons/icon9.gif
I see.. Thanx for the info. No wonder i missed Frankfurters opening. I thought they open the same time with London. Now i know its becoz of the coffee..

Makes me wanna have some coffee too..
  • #10,874
  • Apr 20, 2007 2:17am Apr 20, 2007 2:17am
Quoting forexmaster55
Forexmaster Is Back To Make Trade Recommendations. Anyone Interested?
But your comments here would be appreciated.
Do not focus on making money; focus on protecting what you have.
  • #10,875
  • Apr 20, 2007 2:19am Apr 20, 2007 2:19am
Even though I dont like going with my gut, it tells me this time that Retail sales might be giving us some fuel for a retracement to at least 9780.

Anybody in agreement?
  • #10,876
  • Apr 20, 2007 2:25am Apr 20, 2007 2:25am
Quoting Why Oh Why
But your comments here would be appreciated.
I am happy that you made a new thread regarding me that means that I made an impression in your life, but unfortunately I am not going to participate. I am here to help traders make money and not arguing with anybody.
Pips till you drop ........... !!
  • #10,877
  • Apr 20, 2007 2:26am Apr 20, 2007 2:26am
Quoting NineRs
Hai.. first of all i introduce my self..
im new to this forum but i like to share some of my point of view from GBP/USD..
This forum is great..

Anyway i like to share some of my forecast for Gbp
Today, April 20th'07

Sell at 2.0070
TP at 1.9970
SL at 2.0100

Potential Bulish Reversal : Sell 2.0150 TP 2.0030 SL 2.0180
Potential Bearish Reversal: Buy 1.9890 TP 1.9930 SL 1.9850

Im Really Sorry if im not being polite for my sugestion, is it oke for me to post some of my prediction here? if not im really sorry..
Thank you..
Thanks for all of your support.. Almost hit my SELL Price at 2.0070
  • #10,878
  • Apr 20, 2007 2:35am Apr 20, 2007 2:35am
Quoting coshbrewer
It Will drop but if it's above 200 ema on 5 minute chart at time of announcement only as far as the 200 then still continue north but not as fast
But remember inflation in UK at record levels [recent history only] wage inflation higherthan expected the money has to go somewhere there has been some reduction in credit card bills but I expect a lot has gone into shopping.

monyy a mickle macks a muckle
Nice to see another trader using the 200 ema for reference.

I had three profitable shorts yesterday as price bounced down off the falling 5 min 200 ema.

I´ve just had onother, as it over-extended to the 200 + 35 envelope - often a good level for a snap back scalp - I´m more awake with my first cup of Jamaican Blue Mountain in hand!

Now an hours wait for the data and hopefully some more opportunities.
Trading Levels with WRBs
  • #10,879
  • Apr 20, 2007 2:37am Apr 20, 2007 2:37am
Quoting forexmaster55
I am happy that you made a new thread regarding me that means that I made an impression in your life, but unfortunately I am not going to participate. I am here to help traders make money and not arguing with anybody.
He's not asking for an argument. He's talking about putting up or shutting up. You want to help traders? That can be done by having a realtime log of your trades available for people to review. That's what he's proposing in a side by side manner. Lot's of people come in here and act as if they are helping people. Although posting confusing rules that you say you don't even follow along with after the fact supposed 'positions' that can't be verified.

I could say that I longed the GU from 2.0020 and got out at 2.0060 for an easy 40 pips and everyone should follow my advice. Where's the proof? It doesn't take a rocket scientist to figure out the trend has been long for weeks now but if anyone had bought into the spike just in the past hour they are looking into the face of a retracement of that break for little to no gain. So if you truly believe what you say then a little public account log will only help you prove yourself right. Unless your afraid of being publically exposed of your actual performance.
  • #10,880
  • Apr 20, 2007 2:42am Apr 20, 2007 2:42am
Trade recomendations n hot tips are ok. But i think it will be better if u provide some analytical reason for the recomendations or tips. So we can all discuss it and learn from it.
Dont really need unreasoned hot tips. Can get lots of them from my broker, or even the taxi drivers.
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