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Cable Update (GBPUSD)

  • #136,421
  • Jun 10, 2009 12:12am Jun 10, 2009 12:12am
Quoting HotPips
Well, my 1st post was not to warn everyone from going short or long... I just found it interesting for a 1st post, that's it...
yeah its interesting actually...
Verily, in every difficulties there is relief
  • #136,422
  • Jun 10, 2009 12:20am Jun 10, 2009 12:20am
Quoting dami32
People Please open your eyes. How can the majority still preaching short short short!!. The trend has been up for a while now and still going up. The last fall was just a retracement to buy on the dips. Please OPEN YOUR EYES AND DO NOT SHORT.
I am one of them who kept on preaching short. Said it won't close past 6600 early last week matter of fact. Had charts & analysis to back up my claims.
You say the last fall was just a retracement, I say it's the turn. Point is, this is not a wanking contest, it's a learning forum. So stop taking the piss and back your claims with some analysis or stop cluttering the thread. We have enough wankers who come here with their nonsense already.

Thank You & Good Luck.
Thank You
  • #136,423
  • Jun 10, 2009 12:23am Jun 10, 2009 12:23am
Quoting wormboy
I am one of them who kept on preaching short. Said it won't close past 6600 early last week matter of fact. Had charts & analysis to back up my claims.
You say the last fall was just a retracement, I say it's the turn. Point is, this is not a wanking contest, it's a learning forum. So stop taking the piss and back your claims with some analysis or stop cluttering the thread. We have enough wankers who come here with their nonsense already.

Thank You & Good Luck.
i agree
Verily, in every difficulties there is relief
  • #136,424
  • Jun 10, 2009 12:58am Jun 10, 2009 12:58am
Price action continued to be aggressively bullish ever since yesterday's bear channel breakout.
It'd be hazardous to trade against the trend just because it might look like it's overbought or an entry was missed. Shorts will only be warranted if such a setup is in place which is not the case yet.
Attached Image
Hear the music before the song is over ...
  • #136,425
  • Jun 10, 2009 1:01am Jun 10, 2009 1:01am
Quoting 4xEdge
Hello to everyone...

Was a very disappointing night yesterday... I missed a very good Short position...
I should have shorted at 1.6180 (resistance level) for 20-40pips...

So today my Resistance levels are 1.6430 and 1.6495. From either point i will go Short +/- 5pips and i expect take profit 20-40pips

And my Support levels... 1.6200 (+/- 5pips) from there I will go long also for 20-40pip take profit

Any other trades during this time i will post...

Currently im in a trade..

Entry: 1.6311 at 21:11
Going Long GBP/USD

I'm expecting about 10-20pips:...
Trade Closed: at 1.6355 Reason for close: hit T/P
Profits: +44pips
  • #136,426
  • Jun 10, 2009 1:01am Jun 10, 2009 1:01am
m2/m4 day, possible short near 6443, 6523!

Anyone agree?
  • #136,427
  • Edited 1:29am Jun 10, 2009 1:09am | Edited 1:29am
close 2nd 105 pip since last nite at 1.6288
Ichimoku hmm beauty isn't

Now time to short until 17.00 GMT +7 with me
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  • #136,428
  • Jun 10, 2009 1:15am Jun 10, 2009 1:15am
Quoting deryworlds
close 2nd 105 pip since last nite at 1.6288
Ichimoku hmm beauty isn't
Nice
  • #136,429
  • Jun 10, 2009 1:15am Jun 10, 2009 1:15am
Quoting dami32
People Please open your eyes. How can the majority still preaching short short short!!. The trend has been up for a while now and still going up. The last fall was just a retracement to buy on the dips. Please OPEN YOUR EYES AND DO NOT SHORT.
Hi Dami,
I agree with you
I was waiting for this uptrend for a while and it was very logical if you check weekly,daily charts on GU. For the time being im waiting for the retracement to come(till 1.6215 50% fibo retr.), then up again at least till previous high (1.666 area)
But when you comment or disagree with smb. please point why and try to prove/explain your point of view by charts. lets be respectfull to each other. Anyway in FOREX NOBODY can be 100% sure
  • #136,430
  • Jun 10, 2009 1:20am Jun 10, 2009 1:20am
To all Cable Guy's, I see we all will be going south Today. A retracement of yesterday's good run... Be prepared. My Say, The Cable is going to the region of 1.5842.

So Short @ 1.6420 is Good...
  • #136,431
  • Jun 10, 2009 1:21am Jun 10, 2009 1:21am
Quoting forex3e
scalp SHOT GU 1.6388* anyone?


Yes wait for a Good entry... We going south Today.
  • #136,432
  • Jun 10, 2009 1:25am Jun 10, 2009 1:25am
Quoting Reznik
To all Cable Guy's, I see we all will be going south Today. A retracement of yesterday's good run... Be prepared. My Say, The Cable is going to the region of 1.5842.

So Short @ 1.6420 is Good...
why 5842???
  • #136,433
  • Jun 10, 2009 1:32am Jun 10, 2009 1:32am
Quoting crisis
heello my friend..

i tried to attach the indicators to the graph but zup_info doesnt work..i choose the "allow dll" but still it doesnt work..

also can u identify what are these indicators for and also can u explain what is going in your template thank yoıu
Hi there !
When there is no price pattern then is normally to see nothing.All informations you need regarding this indi's are here : http://www.forex-tsd.com/harmonic-tr...erfly-bat.html
np
  • #136,434
  • Jun 10, 2009 1:38am Jun 10, 2009 1:38am
Guys...
I think she is going to 1.6450.... or so....
R1

From there she could go up again... cause I see weekly MA is begin upward....
Or she may go down not lower than 1.62xx....
Attached Image (click to enlarge)
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  • #136,435
  • Jun 10, 2009 1:40am Jun 10, 2009 1:40am
Quoting Fibonatzi
Hi there !
When there is no price pattern then is normally to see nothing.All informations you need regarding this indi's are here : http://www.forex-tsd.com/harmonic-tr...erfly-bat.html
np
thanks for indicator,but what's your idea?D1 chart is bearish buterfly....
  • #136,436
  • Jun 10, 2009 1:43am Jun 10, 2009 1:43am
Quoting paul czech
why 5842???

Bro, U got to hold on... Cause the signals are changing a again.

The trend is Upward,
-and symmetrical Triangle in my bar Chart...
-The Shoot Star (is still very strong) of yesterday.

And for a downward trend, the Cable must come and test 1.6242.
  • #136,437
  • Jun 10, 2009 1:49am Jun 10, 2009 1:49am
Hi everyone, I've been following this thread for sometime and thought I might throw in my two cents.

On the technical side, enough has been said, as the majority of people here are seeing sell signals flashing up like Christmas lights.

Fundamentally however, the dominant theme in the market steering the dollar is still commodity prices (or vice versa) and risk appetite. We saw a jump in commodity prices yesterday, with oil closing over 70 and metals up 3%, a powerful bounce from last week's fall, extending from NY through the Asia session. This bodes poorly for the greenback and continues to add pressure to a dollar with 0% interest for the foreseeable future. As for interest rates, the predominant measurement of a currency's strength (theoretically), traders finally came to their senses today, and dispelled fears of the Feds raising interest rate. These fears proved to be extremely premature, as the Feds will not threaten an economic recovery in the wake of 9% plus unemployment that may continue into 2010 and maybe even beyond.
Now turning to risk appetite, the most popular metric right now is the AUD/USD, and GBP can be seen as a proxy (the two are highly correlated, above 80& YTD). Meanwhile, the AUD is also a commodity currency, thus given the momentum in commodities after their fall last week, with oil continuing to make new highs, bears might caution to stay on the sidelines.
Finally, there is still so much institutional money on the sidelines that are buying up stocks at every dip. Too many missed out on bull run (or bear rally) since March, and now its time to put their money to use before investors start crying for claw backs. Where do institutions keep their money? Not under their mattress but in short term debt securities: US treasuries. Thus, this gradual shift from bear to bull (with new high surprises every week) translates into a sell off in treasuries (pressure on the dollar) and into more risky assets (particularly in higher yielding countries, i.e. Australia, New Zealand, or UK).
To sum up, all of this points to the dollar continuing to slide in the mid and long term going into 2010 (which is how I am currently positioned). For scalpers, there may still be good short opportunities, I would have loved to have been short last week too. However, for myself, prudence dictates dip buying instead of trying to capture a quick short as there is still too much money out there ready to push uncle sam down. Lastly, on a personal note, George Soros has time and again expressed his opinion that the dollar will continue to weaken, and I'm not one to trade against the greatest currency trader of all time, haha.
With an open mind, I look forward to all of your feed back!
  • #136,438
  • Jun 10, 2009 1:55am Jun 10, 2009 1:55am
Quoting Reznik
Bro, U got to hold on... Cause the signals are changing a again.

The trend is Upward,
-and symmetrical Triangle in my bar Chart...
-The Shoot Star (is still very strong) of yesterday.

And for a downward trend, the Cable must come and test 1.6242.
ok,your target for short still 6420?
  • #136,439
  • Jun 10, 2009 1:57am Jun 10, 2009 1:57am
Looking for something contrete...

In the 15mins Chart...
-MACD indicates a negative divergence.
- RSI is overbought.
-Stoch is in an Over-bought region.

Good... But wait.
  • #136,440
  • Jun 10, 2009 1:59am Jun 10, 2009 1:59am
Quoting forexlion
I am looking at 6417 to exit my longs
closed my longs at 6417 as planned.
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