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Cable Update (GBPUSD)

  • #135,921
  • Jun 8, 2009 5:45am Jun 8, 2009 5:45am
Quoting Endrju
i couldn't figure out why 5909 was a strong support, can you explain?
I se resistance to up in that area but more like 1.5950 that's why I hesitate to go short here but dumb lck will probably se the tihing just take off to the downside. See see support at 1.5906, perhaps in the short term
and could trade the break out to the downside. Ideally would like to short at 1.5940 with a backstop at 15 pips
  • #135,922
  • Jun 8, 2009 5:48am Jun 8, 2009 5:48am
Quoting wormboy
Price action / candle formation my friend
I see pa is still up on all timeframes so I'm going to resist the temptation to short early. Hope I'm doing the right thing.
  • #135,923
  • Jun 8, 2009 5:50am Jun 8, 2009 5:50am
remmber me

Buy Limit Order

1.5547

15370

Target

1.6580

1.6400

Bye..
  • #135,924
  • Jun 8, 2009 5:50am Jun 8, 2009 5:50am
Quoting 4cfx
I see pa ...
Good call. I don't see any weakness yet for me to pile up my shorts.
Thank You
  • #135,925
  • Jun 8, 2009 5:51am Jun 8, 2009 5:51am
Quoting 4cfx
It's today's first support. Maybe it's not the strongest but it's supporting right now and earlier on it was resisting.
sorry, but i can't see any reason to think of 5909 as support, we can assume that 5900 can be a support as a round figure, but 5909 can't find. In what time you saw it as a support?
  • #135,926
  • Jun 8, 2009 5:54am Jun 8, 2009 5:54am
Quoting Endrju
sorry, but i can't see any reason to think of 5909 as support, we can assume that 5900 can be a support as a round figure, but 5909 can't find. In what time you saw it as a support?
I use eric's support & resistance levels. I found them very good and work with me.
  • #135,927
  • Jun 8, 2009 5:56am Jun 8, 2009 5:56am
Quoting gody6000
remmber me

Buy Limit Order

1.5547

15370

Target

1.6580

1.6400

Bye..
The daily chart would suggest this is to early a move, Looks like it still has to make its correction to the 1.56 area. Should confirm if the S&P breaks 923.85, dollar index also on move currently undergoing correction
  • #135,928
  • Jun 8, 2009 5:57am Jun 8, 2009 5:57am
I see support at 1.58 so, I have gone long at 1.5935 for 1.6065 with a tight stop at 1.5870
_______________ Say Good-bye to Buy-and-Hold
  • #135,929
  • Jun 8, 2009 5:59am Jun 8, 2009 5:59am
Quoting wormboy
Good call. I don't see any weakness yet for me to pile up my shorts.
Thanks for your confirmation, mate. It helps me as I'm trying to improve on my entry and exit points. Much appreciated.
  • #135,930
  • Jun 8, 2009 5:59am Jun 8, 2009 5:59am
i shorted at 5930, sl 5955, looking at dow futures value and that it's gonna open in 5 min, i take this as a good moment to risk. of course i could be wrong as on many other trades
shorting at eur/usd too, with tighter sl
  • #135,931
  • Jun 8, 2009 6:00am Jun 8, 2009 6:00am
Quoting currencyexch
The daily chart would suggest this is to early a move, Looks like it still has to make its correction to the 1.56 area. Should confirm if the S&P breaks 923.85, dollar index also on move currently undergoing correction
Sorry I reread your post, I was thinking 1.5955 but your entry is more in line with my thinking, didn't have my coffee yet!
  • #135,932
  • Jun 8, 2009 6:10am Jun 8, 2009 6:10am
Quoting 4cfx
Thanks for ...
You're most welcomed my friend
Thank You
  • #135,933
  • Jun 8, 2009 6:17am Jun 8, 2009 6:17am
Quoting Bull_Bear
Yeah dude..... 1.5940 is my target, than lookin' to turn south @ 1.5950..... will observe price action if downward price unfolds (around 1.5850/70), may long again to 1.6060, but play by ear.... try not to get too far ahead of myself.
Hi BB, see you've met your target. Excellent. My short now needs to be triggered.
  • #135,934
  • Jun 8, 2009 6:22am Jun 8, 2009 6:22am
Quoting 4cfx
Hi BB, see you've met your target. Excellent. My short now needs to be triggered.
Thats right my friend.... green pips always nice. Got my sell limit @ 1.5950 and waiting in que.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #135,935
  • Jun 8, 2009 6:35am Jun 8, 2009 6:35am
Quoting Bull_Bear
Thats right my friend.... green pips always nice. Got my sell limit @ 1.5950 and waiting in que.
1.5949 is the pivot. If it passes that point to 5950, do you think it may shoot up to 1.6002, which will be a better point to short?
  • #135,936
  • Jun 8, 2009 6:39am Jun 8, 2009 6:39am
Quoting 4cfx
1.5949 is the pivot. If it passes that point to 5950, do you think it may shoot up to 1.6002, which will be a better point to short?
If it passes the 5950 mark then it will surely go to 1.6000 - 1.6030. Otherwise it will go down to 1.5850 (ish).
You've got to be IN IT to WIN IT!
  • #135,937
  • Jun 8, 2009 6:41am Jun 8, 2009 6:41am
Quoting 4cfx
1.5949 is the pivot. If it passes that point to 5950, do you think it may shoot up to 1.6002, which will be a better point to short?
I'm becoming somewhat suspect now about the potentail strenght here although having just said that maybe the current candle is the downturn we've been waiting for
  • #135,938
  • Jun 8, 2009 6:42am Jun 8, 2009 6:42am
Quoting 4cfx
1.5949 is the pivot. If it passes that point to 5950, do you think it may shoot up to 1.6002, which will be a better point to short?
I don't see price action being so volatile tonight, 1.5950 is still my entry point. My SL is 1.6020. TP, will leave it open for now.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #135,939
  • Jun 8, 2009 6:49am Jun 8, 2009 6:49am
Quoting Bull_Bear
I don't see ...
I think you missed your entry and I missed my chance to add up this time around lol. It''ll come back I suppose
Thank You
  • #135,940
  • Jun 8, 2009 6:52am Jun 8, 2009 6:52am
Quoting wormboy
I think you missed your entry and I missed my chance to add up this time around lol. It''ll come back I suppose
It will come I'm sure. Just more waiting but that is easy today.
You've got to be IN IT to WIN IT!
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