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Cable Update (GBPUSD)

  • #137,321
  • Jun 15, 2009 9:22pm Jun 15, 2009 9:22pm
Quoting RichLadyFX
Still holding to my long, +52 pips. Should I close that now?
I have the same position as you i'm also +52 my strategy acording to the 4hre chart is put a stop to break even and let it ride for the night.
this is what i'm doing if you want to secure some profit to what you have in plan.
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  • #137,322
  • Jun 15, 2009 9:24pm Jun 15, 2009 9:24pm
Quoting RichLadyFX
Yesterday we got news that suppose to be bad for US economy and yet dollar gained strength. What can we learn from that?
I dont know about others, but news to me is a trap
  • #137,323
  • Jun 15, 2009 9:30pm Jun 15, 2009 9:30pm
Good Morning Everybody ! ,

any intresting news to review for today ??

ghee' GBP still in the down move huh, could it go down to 6046 for today ???
  • #137,324
  • Jun 15, 2009 9:30pm Jun 15, 2009 9:30pm
Quoting RichLadyFX
Yesterday we got news that suppose to be bad for US economy and yet dollar gained strength. What can we learn from that?

Maybe some news are lagging indicators...hehe...just kidding
Never Stop Learning...
  • #137,325
  • Jun 15, 2009 9:31pm Jun 15, 2009 9:31pm
Big Vol..in Asia session...
something must be brewing...

Sonic
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  • #137,326
  • Jun 15, 2009 9:32pm Jun 15, 2009 9:32pm
you gotta love the pound! its like a rollarcoaster!

I think the path of least resistence is still down for now!
  • #137,327
  • Jun 15, 2009 9:32pm Jun 15, 2009 9:32pm
Quoting Lejumeau
I have the same position as you i'm also +52 my strategy acording to the 4hre chart is put a stop to break even and let it ride for the night.
this is what i'm doing if you want to secure some profit to what you have in plan.
Thanks. I'll let it ride, SL at +10 pips. BTW its 10.26 AM in my place.
Great Bodies are Engineered not Born
  • #137,328
  • Jun 15, 2009 9:32pm Jun 15, 2009 9:32pm
Quoting Lejumeau
AND IT didnt follow as much of all the other european pair to the downside.
That's a reason for me to short it! It only means it has more room to fall. I will venture to say by weeks end cable is below 1.58. All the upmoves looking shallow like the down moves looked when this thing was going up. If you are going to long it, you need to do way below here. Sentiment has shift towards the dollar since Friday. No point in fighting it.
  • #137,329
  • Jun 15, 2009 9:34pm Jun 15, 2009 9:34pm
Quoting Nisda_
I dont know about others, but news to me is a trap
To be on the safe side, no trade. But, there is money to be made...
Great Bodies are Engineered not Born
  • #137,330
  • Jun 15, 2009 9:46pm Jun 15, 2009 9:46pm
Quoting RichLadyFX
Yesterday we got news that suppose to be bad for US economy and yet dollar gained strength. What can we learn from that?

Sentiment has shiftes towards the dollar. Big dogs have called the top at 1.6660 and no small news item will change that. Once sentiment shifts, small news items are mostly ignored. The fact that it is consistently closing below 21 EMA ( on H) is another bearish signal. Upside is limited in my opinion.
  • #137,331
  • Jun 15, 2009 9:49pm Jun 15, 2009 9:49pm
Quoting Ferick
That's a reason for me to short it! It only means it has more room to fall. I will venture to say by weeks end cable is below 1.58. All the upmoves looking shallow like the down moves looked when this thing was going up. If you are going to long it, you need to do way below here. Sentiment has shift towards the dollar since Friday. No point in fighting it.
there is plenty of room on the upside also, I dont think i will make a decision base on that but what is telling me if the gbp didnt follow as much is that the trend is still holding and if the trend is still holding my bet is more with the trend. but it come all to the way we interprete the action on the market.
  • #137,332
  • Jun 15, 2009 9:50pm Jun 15, 2009 9:50pm
The only signs of buying on the 4hr today was at the 1.6300 level (pre nyse open-- bank stop check(100 pip rise in less than 30min)-- which gaves us that extra opp to short for even more pips...

The mkt is not oversold- (at least from rsx) but there are buyers entering on the lower TF's-- whether those are pro's or bulls for the trap set up only time will tell... My bias is still short - but scalping both ways..

Just checked the Futures... Adding to my shorts for sure...
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  • #137,333
  • Jun 15, 2009 9:55pm Jun 15, 2009 9:55pm
My Trades Today:

 

  1. First I have just now taken a long with target 1.6315
  2. Next I will short from 1.6315 to target 1.6200


Disclaimer:
Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. Because the risk factor is high in the foreign exchange market trading, only genuine “risk” funds should be used in such trading. If you do not have the extra capital that you can afford to lose, you should not trade in the foreign exchange market. No “safe” trading system has ever been devised, and no one can guarantee profits or freedom from loss.

  • #137,334
  • Jun 15, 2009 9:57pm Jun 15, 2009 9:57pm
Quoting RichLadyFX
Yesterday we got news that suppose to be bad for US economy and yet dollar gained strength. What can we learn from that?

Fear and risk aversion. The buck, and the Yen to some extent are still the only game in town if you want to play it safe. GPBJPY has had a good risk aversion bump today, 200 pips and counting.
Avoiding poverty, one pip at a time.
  • #137,335
  • Jun 15, 2009 9:59pm Jun 15, 2009 9:59pm
lol, still trying to guess ey.
Just don't get caught with your shorts down

Bias is still down. Good luck
Thank You
  • #137,336
  • Jun 15, 2009 10:03pm Jun 15, 2009 10:03pm
Quoting wormboy
lol, still trying to guess ey.
Just don't get caught with your shorts down

Bias is still down. Good luck
bees flirt with flowers for getting nectar, they do not get it free
boys flirt with flowers for getting nectar, they do not get it free

you need to take high risk to get something


Disclaimer:
Flirting involves substantial risk and there is always the potential for beating. Your flirting results may vary. Because the risk factor is high in flirting, only genuine “risk” funds should be used in such flirting. If you do not have the extra capital that you can afford to lose, you should not flirt.No “safe” flirting system has ever been devised, and no one can guarantee results or freedom from beating.
  • #137,337
  • Jun 15, 2009 10:07pm Jun 15, 2009 10:07pm
Taken from somewhere on the net (Elliot wave trader). This one was posted few days ago:

As being analysed above, this pair is performing wave 4. But now, it seems that wave 4 already completed. Look at H4, if the previous high is break, then it will go 1.81743, around 1,500 pips above. But of course, do not expect it will go straight. There must be subwave on the way to reach that point.

Now, look at H1...this pair will go down at least 1.62+++ before going up again. It will go up after that to 1.68+++ before going down to continue another subwave. You may wait before opening your Pending Order above the previous high...

Please also remember that if this happen, almost all pairs in our pair correlation will go up as well. I.e., EU, GJ, NU, AU, etc..

What do you all think?
Great Bodies are Engineered not Born
  • #137,338
  • Jun 15, 2009 10:10pm Jun 15, 2009 10:10pm
Quoting RichLadyFX
Taken from somewhere on the net (Elliot wave trader). This one was posted few days ago:

As being analysed above, this pair is performing wave 4. But now, it seems that wave 4 already completed. Look at H4, if the previous high is break, then it will go 1.81743, around 1,500 pips above. But of course, do not expect it will go straight. There must be subwave on the way to reach that point.

Now, look at H1...this pair will go down at least 1.62+++ before going up again. It will go up after that to 1.68+++ before going down to continue...
It is plausable but anything can happen.
  • #137,339
  • Jun 15, 2009 10:15pm Jun 15, 2009 10:15pm
Quoting wormboy
lol, still trying to guess ey.
Just don't get caught with your shorts down

Bias is still down. Good luck
you give me a good don't get caught with your shorts down .. good one i will remenber this one
  • #137,340
  • Jun 15, 2009 10:16pm Jun 15, 2009 10:16pm
Quoting forexlion
bees flirt with flowers ....
Don't get me wrong my friend. Your 6315 long target is very modest.
It's those who are gunning higher that baffles me.
Thank You
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