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Cable Update (GBPUSD)

  • #135,621
  • Jun 4, 2009 10:22am Jun 4, 2009 10:22am
Quoting whytomwhy
Well, it's there. Are you in?
Calm down, dont be greedy.. still watching..need more confirmation.. if its not broke possibilities of short.
  • #135,622
  • Jun 4, 2009 10:24am Jun 4, 2009 10:24am
Quoting mloistianto
Calm down, dont be greedy.. still watching..need more confirmation.. if its not broke possibilities of short.

Not eager or greedy; was simply curious.
  • #135,623
  • Jun 4, 2009 10:26am Jun 4, 2009 10:26am
Quoting whytomwhy
Not eager or greedy; was simply curious.
http://www.forexfactory.com/images/icons/icon10.gifif the level is broken then north we go..
  • #135,624
  • Jun 4, 2009 10:35am Jun 4, 2009 10:35am
Quoting mloistianto
http://www.forexfactory.com/images/icons/icon10.gifif the level is broken then north we go..
aiming 1.6250??
  • #135,625
  • Jun 4, 2009 10:51am Jun 4, 2009 10:51am
Hi,
I think it will go nort and will recover all the loss of today.
Can someone support what am i saying with graphics?
Isn't the trend still bullish?
I'm long from 1,6190 with tight stop loss and i will wait with no loss till 1,72. Is my target for the next sessions.
If the PPI data of tomorrow come out good, then we have a trigger to prop the PA direction to north.
  • #135,626
  • Jun 4, 2009 11:20am Jun 4, 2009 11:20am
its look like going to the north . But to early to say ,
aiming :- 1st at 6250 , 2nd at 6316. , 3rd at 6370 , then if no broken , rally to the northpole.
  • #135,627
  • Jun 4, 2009 12:11pm Jun 4, 2009 12:11pm
Are we still in a downtrend as on the 4h there is a trend line support which it is bouncing off?
  • #135,628
  • Jun 4, 2009 12:50pm Jun 4, 2009 12:50pm
looks like its just consolidating in a triangle before it goes down again?

or a 123 uptrend continuation pattern on the 15 min from 12.30 pm could have price retrace to 50% fib at 6260 before resuming short?

Any opinion on this?
  • #135,629
  • Jun 4, 2009 12:56pm Jun 4, 2009 12:56pm
Quoting alex1976
looks like its just consolidating in a triangle before it goes down again?

or a 123 uptrend continuation pattern on the 15 min from 12.30 pm could have price retrace to 50% fib at 6260 before resuming short?

Any opinion on this?
please post the chart...thanks
  • #135,630
  • Jun 4, 2009 1:06pm Jun 4, 2009 1:06pm
Quoting alex1976
looks like its just consolidating in a triangle before it goes down again?

or a 123 uptrend continuation pattern on the 15 min from 12.30 pm could have price retrace to 50% fib at 6260 before resuming short?

Any opinion on this?
Here's my wavecount for cable hourly.

Attached Image (click to enlarge)
Click to Enlarge Name: Cable Hourly 04062009.jpg Size: 146 KB
  • #135,631
  • Jun 4, 2009 1:18pm Jun 4, 2009 1:18pm
What a day?! The Cable tanked and banked in some cash for all Cable mate

Tommorow bias is very unknown to me... Lets just hope.
  • #135,632
  • Jun 4, 2009 1:34pm Jun 4, 2009 1:34pm
The down spike in GBPUSD this morning must be a wicked one. I longed it last night (London session) and set the stop loss to break even when the trade was 40 pips in profit. Went to sleep afterwards. Woke up this morning to a shock. My broker (FXCM) charged me 135 pips loss per lot below my stop, claiming the reason of slippage in news announcement. I can understand 30, even 50 pips slippage. But 135 pips is unheard of. Does anybody out there get hit with this slippage? If not, I need to find a way to challenge FXCM.

This totally takes away the peace of mind I have for stop loss and for leaving a trade open during news hours. I am looking for a broker who gives 100% slippage protection. Any recommendations?

Thanks.
  • #135,633
  • Jun 4, 2009 1:35pm Jun 4, 2009 1:35pm
Here's the chart for the 15 min.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_06 Jun. 04 15.10.gif Size: 56 KB
  • #135,634
  • Jun 4, 2009 1:44pm Jun 4, 2009 1:44pm
Quoting fxbillie
The down spike in GBPUSD this morning must be a wicked one. I longed it last night (London session) and set the stop loss to break even when the trade was 40 pips in profit. Went to sleep afterwards. Woke up this morning to a shock. My broker (FXCM) charged me 135 pips loss per lot below my stop, claiming the reason of slippage in news announcement. I can understand 30, even 50 pips slippage. But 135 pips is unheard of. Does anybody out there get hit with this slippage? If not, I need to find a way to challenge FXCM.

This totally takes away the...

Bro, So sorry but I will have to recommend fxpro... A lot better.
  • #135,635
  • Jun 4, 2009 1:45pm Jun 4, 2009 1:45pm
Quoting fxbillie
The down spike in GBPUSD this morning must be a wicked one. I longed it last night (London session) and set the stop loss to break even when the trade was 40 pips in profit. Went to sleep afterwards. Woke up this morning to a shock. My broker (FXCM) charged me 135 pips loss per lot below my stop, claiming the reason of slippage in news announcement. I can understand 30, even 50 pips slippage. But 135 pips is unheard of. Does anybody out there get hit with this slippage? If not, I need to find a way to challenge FXCM.

This totally takes away the...
Wow that's terrible. I had a problem with Oanda at that same time when their system just froze when I was trying to take profit. It was then down for almost an hour. I complained and it's now being looked at.

I think you should complain vehemently.
  • #135,636
  • Jun 4, 2009 1:49pm Jun 4, 2009 1:49pm
Quoting 4cfx
Here's my wavecount for cable hourly.

Attachment

4cfx, do u think the top trendline of the triangle will hold price before the downward price resumption, assuming we get one?
  • #135,637
  • Jun 4, 2009 1:53pm Jun 4, 2009 1:53pm
Quoting alex1976
looks like its just consolidating in a triangle before it goes down again?

or a 123 uptrend continuation pattern on the 15 min from 12.30 pm could have price retrace to 50% fib at 6260 before resuming short?

Any opinion on this?


My say, from my counting of waves... Give or take tomorrows bias is a "LONG" but we are left with a down-trend to 1.6050 before an reverse...

GOODLUCK TRADING...
  • #135,638
  • Jun 4, 2009 1:58pm Jun 4, 2009 1:58pm
Quoting alex1976
4cfx, do u think the top trendline of the triangle will hold price before the downward price resumption, assuming we get one?


I can see any triangle, but a downward trend is obvious... Sit and cross your fingers...
  • #135,639
  • Jun 4, 2009 1:59pm Jun 4, 2009 1:59pm
Quoting alex1976
4cfx, do u think the top trendline of the triangle will hold price before the downward price resumption, assuming we get one?
I think the 50EMA on the 4H is much stronger. It's been capping it all afternoon. If it stays below, good chance we will head south to complete wave C. Otherwise, it could be a flat correction and up we go again.
  • #135,640
  • Jun 4, 2009 2:11pm Jun 4, 2009 2:11pm
Quoting Reznik
My say, from my counting of waves... Give or take tomorrows bias is a "LONG" but we are left with a down-trend to 1.6050 before an reverse...

GOODLUCK TRADING...
Lol today you said was all about the "LONG"

you were soooo right
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