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Cable Update (GBPUSD)

  • #136,981
  • Edited 11:09pm Jun 12, 2009 2:21pm | Edited 11:09pm
Told ya London boys were out to screw some over before headed to the pub

Okay, so the 6600 line remains intact for the week. And with only about 200 pips below to what I firmly believe is the top based on my own charts, I will remain bearish till proven wrong.
However it does look like we're going to bottleneck going into next week based on the narrowing utl & ltl, which means that consolidation is the likeliest scenario.
But once a breakout happens, it'll be very violent.
So Tony, looks like you have a case here:
http://www.forexfactory.com/showpost...stcount=136901
Superb foresight my friend

Good luck everyone & enjoy the weekend.
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Thank You
  • #136,982
  • Jun 12, 2009 2:46pm Jun 12, 2009 2:46pm
Quoting forexlion
why are girls always so dumb, hey you guys should trade with 4 hour trends and not 5 min market noise.

 

  1. if your plan is to make money in forex then 4 hour chart
  2. if your plan is to waste time then 5 minute is best for you.

And not to forget me and wormboy go back a long way....

Ditto buddy.
Lion has a very screwy way of putting things into perspective BUT he seldom gets it wrong.
His earlier chart more than 24 hours ago: http://www.forexfactory.com/attachme...1&d=1244710607

Good to have you amongst us my friend. Enjoy the weekend
Thank You
  • #136,983
  • Jun 13, 2009 4:06am Jun 13, 2009 4:06am
hello does anybody know the links where to check the online currency rates?
yesterday i was late and couldnt close my longs. I usually never keep trades open for weekends. i'm especially worried because of G8 meetings. now just hope there will be not so big gap on monday opening
i forgot the one i used before ((
  • #136,984
  • Jun 13, 2009 4:16am Jun 13, 2009 4:16am
Quoting kuzey
hello does anybody know the links where to check the online currency rates?
yesterday i was late and couldnt close my longs. I usually never keep trades open for weekends. i'm especially worried because of G8 meetings. now just hope there will be not so big gap on monday opening
i forgot the one i used before ((
Where are you long from mate ?

Oanda.com
Let Price determine your future!
  • #136,985
  • Jun 13, 2009 4:36am Jun 13, 2009 4:36am
Quoting Geppyg
Where are you long from mate ?

Oanda.com
i long from high but when the trend went against me i unlock it (open the same amount but sell trade) then when it retraced i closed my sell and leave longs open in order to gain back)
i was longing the whoole week and gained good profit and now i worry that this one mistake can cost me all weeks profit )
so for now im in - zone

by the way thanks for the link!
is the oanda links are reliable, i mean really up to date?
  • #136,986
  • Jun 13, 2009 4:42am Jun 13, 2009 4:42am
Quoting wormboy
Ditto buddy.
Lion has a very screwy way of putting things into perspective BUT he seldom gets it wrong.
His earlier chart more than 24 hours ago: http://www.forexfactory.com/attachme...1&d=1244710607

Good to have you amongst us my friend. Enjoy the weekend
hey! no one messes with my indian lion friend,now i do get personal,with that..what gud AZIM..
HOLLA
Imanuel Parsifal
  • #136,987
  • Jun 13, 2009 4:53am Jun 13, 2009 4:53am
Quoting kuzey
i long from high but when the trend went against me i unlock it (open the same amount but sell trade) then when it retraced i closed my sell and leave longs open in order to gain back)
i was longing the whoole week and gained good profit and now i worry that this one mistake can cost me all weeks profit )
so for now im in - zone

by the way thanks for the link!
is the oanda links are reliable, i mean really up to date?
In all fairness....I would personally wait till the market opens....
I currently have shorts:

open from 6500 to 6300 and am waiting for visit down to 6100 next week at some point....

Where are you long from bruv.?

GeppyG
Let Price determine your future!
  • #136,988
  • Jun 13, 2009 5:25am Jun 13, 2009 5:25am
Quoting Geppyg
In all fairness....I would personally wait till the market opens....
I currently have shorts:

open from 6500 to 6300 and am waiting for visit down to 6100 next week at some point....

Where are you long from bruv.?

GeppyG
long at at 1.6509 )
  • #136,989
  • Jun 13, 2009 5:28am Jun 13, 2009 5:28am
Quoting sycho
hey! no one messes with my indian lion friend,now i do get personal,with that..what gud AZIM..
HOLLA
Lol, I think I complimented lion bro. You high again?
Get off the chair & get your ass to a club man. It's saturday for cryin out loud!
Okay, am outta here. paaaaaaartyyyyy

later bro
Thank You
  • #136,990
  • Jun 13, 2009 5:40am Jun 13, 2009 5:40am
Quoting wormboy
Lol, I think I complimented lion bro. You high again?
Get off the chair & get your ass to a club man. It's saturday for cryin out loud!
Okay, am outta here. paaaaaaartyyyyy

later bro
lol bro..spent friday night from one cub to bar..planning an all nighter 2day,you know,women,buzz and some nice pumpuming in the lobby..hahha...catch you 2mmrow bro.no pips left behind
HOLLA
Imanuel Parsifal
  • #136,991
  • Jun 13, 2009 9:32am Jun 13, 2009 9:32am
I'm expecting the cabble to be bullish this week to complete wave 5 of Elliot wave.
Great Bodies are Engineered not Born
  • #136,992
  • Edited 10:51am Jun 13, 2009 10:32am | Edited 10:51am
Quoting kuzey
long at at 1.6509 )
You can always re-hedge... plus we might retest highs once again-- one sharp Bank Stop of 150-200 pips would get you at BE or even + pips.

I closed my long from 1.6010 at 1.6505. This was really a hedge trade from my 1.58ish sells. I was leaning towards a 1.6470ish reversal that just went up and up... Guess I was off a bit... (my shorts are still open)

I shorted again at 1.6505-- but I'm regretting leave a trade open over the weekend too... (plus I closed a great hedge) I promised myself I would try to stop trying to learn swing trading, and just be happy with intraday20-50 pip scalps...

On the 4 HR I see background professional selling, but that doesn't mean we won't see some crazy (LOW VOLUME) spike to 1.67 on either news or some bank stop BS to make all the longs jump back in and take out the weak shorts--only to TANK...

Inserted Video


Might sound crazy-- but U/J still in wedge (but it was moving up on Friday-- RSX still bullish Divergence)-- cad/usd - broke trend up, G/J who knows(forexlion)? U/J needs to hit 99-100 still before G/U real goes up or down...

Just my 2 pips...
  • #136,993
  • Jun 13, 2009 10:42am Jun 13, 2009 10:42am
Quoting RichLadyFX
I'm expecting the cabble to be bullish this week to complete wave 5 of Elliot wave.

Just curious-- How high? Or even range? I'm not good with EW's.
  • #136,994
  • Jun 14, 2009 8:15am Jun 14, 2009 8:15am
Quoting LuckyRoost
Just curious-- How high? Or even range? I'm not good with EW's.
Higher than previous top of wave 3 of around 1.6660 with some retracement of course.
Great Bodies are Engineered not Born
  • #136,995
  • Jun 14, 2009 12:27pm Jun 14, 2009 12:27pm
Quoting RichLadyFX
Higher than previous top of wave 3 of around 1.6660 with some retracement of course.
I think I see it now ???
1.6660 then 1.6116???

MM my pic chopped off the yellow line going down to the 61.8 level...

Found this on wiki-- as we came close the 38.2

Wave 4: Wave four is typically clearly corrective. Prices may meander sideways for an extended period, and wave four typically retraces less than 38.2% of wave three. Volume is well below than that of wave three. This is a good place to buy a pull back if you understand the potential ahead for wave 5. Still, the most distinguishing feature of fourth waves is that they often prove very difficult to count.
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  • #136,996
  • Jun 14, 2009 1:03pm Jun 14, 2009 1:03pm
Quoting LuckyRoost
I think I see it now ???
1.6660 then 1.6116???

MM my pic chopped off the yellow line going down to the 61.8 level...

Found this on wiki-- as we came close the 38.2

Wave 4: Wave four is typically clearly corrective. Prices may meander sideways for an extended period, and wave four typically retraces less than 38.2% of wave three. Volume is well below than that of wave three. This is a good place to buy a pull back if you understand the potential ahead for wave 5. Still, the most distinguishing feature of fourth waves is that...
Half of U.K. Voters Say Brown Is Harming Britain, Poll Shows

http://www.bloomberg.com/apps/news?p...d=arFfMWyiyZwY

UPDATE:IMF Strauss-Kahnollar Not Weak, Market Value Correctly
http://www.fxstreet.com/news/forex-n...e-0c57bbe91cf1

i hope this week market will go down till 5300-5800...

Ub
  • #136,997
  • Jun 14, 2009 1:27pm Jun 14, 2009 1:27pm
Just a FYI for you guys.
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  • #136,998
  • Jun 14, 2009 2:01pm Jun 14, 2009 2:01pm
Will retrace some more before targetting 1.8000 area..
Great Bodies are Engineered not Born
  • #136,999
  • Jun 14, 2009 2:09pm Jun 14, 2009 2:09pm
1.8000 is a no-go...not enough backfill yet...and may fail below 1.6200...JMHO...Holding SHORT....
  • #137,000
  • Jun 14, 2009 2:25pm Jun 14, 2009 2:25pm
Also keeping a close eye on the possible double top on 4h charts...something to think about...
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