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Cable Update (GBPUSD)

  • #137,381
  • Jun 16, 2009 1:49am Jun 16, 2009 1:49am
Quoting GlobalMacro
I'm looking at 1.6339 as my 1st price objective.
2nd price objective is 1.6470
Attached Image
Hear the music before the song is over ...
  • #137,382
  • Jun 16, 2009 1:51am Jun 16, 2009 1:51am
I feel like I have a double edge sword between my legs. I am making a quick $$ (long @ 6334) but anticipating that gbp/usd will crap on itself later today. when is the million dollar question. At least I am locked with profits right now.

Also, does anyone use GFT or CMS. If so, how in the hell do you save charts as a jpg or gif. I would like to share my charts with this forum but can not. I've been using a screen capture software but everytime my files exceeds FF limit.
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  • #137,383
  • Jun 16, 2009 1:51am Jun 16, 2009 1:51am
Quoting GlobalMacro
I'm looking at 1.6339 as my 1st price objective.
Morning GM, is your bias still bull at the moment? Prices are still supported by the lower trendline.
  • #137,384
  • Jun 16, 2009 1:53am Jun 16, 2009 1:53am
Quoting forexlion
Hi forexlion, where do you think cable will retrace to today? 50% fib at 6415? It's already at 38.2 fib at the moment.
  • #137,385
  • Jun 16, 2009 1:53am Jun 16, 2009 1:53am
Lets fly to the moon...
Great Bodies are Engineered not Born
  • #137,386
  • Jun 16, 2009 1:55am Jun 16, 2009 1:55am
Quoting jgnorton
I feel like I have a double edge sword between my legs. I am making a quick $$ (long @ 6334) but anticipating that gbp/usd will crap on itself later today. when is the million dollar question. At least I am locked with profits right now.

Also, does anyone use GFT or CMS. If so, how in the hell do you save charts as a jpg or gif. I would like to share my charts with this forum but can not. I've been using a screen capture software but everytime my files exceeds FF limit.
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  • #137,387
  • Jun 16, 2009 1:56am Jun 16, 2009 1:56am
Quoting 4cfx
Hi forexlion, where do you think cable will retrace to today? 50% fib at 6415? It's already at 38.2 fib at the moment.
Pivot : 1.63150000;
;Resistance 1 : 1.63890000;
;Resistance 2 : 1.65050000;
;Resistance 3 : 1.65790000;
;Support 1 : 1.61990000;
;Support 2 : 1.61250000;
;Support 3 : 1.60090000;
  • #137,388
  • Jun 16, 2009 1:56am Jun 16, 2009 1:56am
waiting for a sweet hammer!
  • #137,389
  • Jun 16, 2009 1:57am Jun 16, 2009 1:57am
Quoting wormboy
Afternoon mate
But in regards to the statement which is in bold - expect nothing my friend. Just trade the charts and follow the money. Expecting data release's outcome will do nothing except cloud your judgement. At least that's my humble opinion.

Btw, can't comment on the 50% fib. You'd want to refer to forexlion, he's the fibonacci retracement king.
I don't trade news but sometimes, they are helpful to move things along the "right" direction.
  • #137,390
  • Jun 16, 2009 1:58am Jun 16, 2009 1:58am
Quoting forexlion
Pivot : 1.63150000;
;Resistance 1 : 1.63890000;
;Resistance 2 : 1.65050000;
;Resistance 3 : 1.65790000;
;Support 1 : 1.61990000;
;Support 2 : 1.61250000;
;Support 3 : 1.60090000;
Thanks. Just saw your other posting. Based on US, UK or other trading hours?
  • #137,391
  • Jun 16, 2009 1:58am Jun 16, 2009 1:58am
Quoting forexlion
I dunno, but as far as hooters go, these are looking like an assymetrical pair in need of a good swedish surgeon genius
  • #137,392
  • Jun 16, 2009 1:59am Jun 16, 2009 1:59am
Quoting 4cfx
Morning GM, is your bias still bull at the moment? Prices are still supported by the lower trendline.
Morning 4cfx,my bias is still bullish for today.
BTW, Congrats on your short trade y2day, done a great job!
Hear the music before the song is over ...
  • #137,393
  • Jun 16, 2009 2:00am Jun 16, 2009 2:00am
Quoting 4cfx
Morning wormboy, nice cable overnight . I closed my short at 6250 last night, a little too early. I think it may go up for a little breather before going south again. Lots of GBP data this morning, all expected to be bad.

I'll short on retrace. However, prices have been supported by the lower trend line of the up from 1.44.

Do you think it may retrace to 6410, 50% fib?
youre right... It has obeyed that.... wonder when/if it will rebel?
  • #137,394
  • Jun 16, 2009 2:00am Jun 16, 2009 2:00am
Quoting wormboy
Nice one mate.
Tho I must admit I have no idea what the m1 or m3 is

Good luck to you.
pivots
  • #137,395
  • Jun 16, 2009 2:03am Jun 16, 2009 2:03am
Quoting smartalicus
youre right... It has obeyed that.... wonder when/if it will rebel?
Eyeing the trendline . It will be interesting when it breaks.
  • #137,396
  • Jun 16, 2009 2:03am Jun 16, 2009 2:03am
Quoting jgnorton
I feel like I have a double edge sword between my legs. I am making a quick $$ (long @ 6334) but anticipating that gbp/usd will crap on itself later today. when is the million dollar question. At least I am locked with profits right now.

Also, does anyone use GFT or CMS. If so, how in the hell do you save charts as a jpg or gif. I would like to share my charts with this forum but can not. I've been using a screen capture software but everytime my files exceeds FF limit.
Well, just ONE example, of the exorcist-girl-nature of this pair... look at this morning after the TIC purchase data in the US, and then look at the result later in the afternoon.... not many rhymes or reasons.... you have to be careful
  • #137,397
  • Jun 16, 2009 2:04am Jun 16, 2009 2:04am
Quoting smartalicus
pivots
lol. thought they were motorways
Thank You
  • #137,398
  • Jun 16, 2009 2:06am Jun 16, 2009 2:06am
Quoting wormboy
lol. thought they were motorways
motorways in between hooters.... okay stop... mind in gutter
  • #137,399
  • Jun 16, 2009 2:08am Jun 16, 2009 2:08am
Quoting GlobalMacro
Morning 4cfx,my bias is still bullish for today.
BTW, Congrats on your short trade y2day, done a great job!
Thanks. I find that if I trade when I have a good idea, then I'll do well. But if I trade when I don't have a clear idea, I always end up losing. Like right now, I'm thinking it could go either way, although up is probably more likely, so I wait. A lot of inactivities but better safe than sorry.
  • #137,400
  • Jun 16, 2009 2:32am Jun 16, 2009 2:32am
Hi everyone!
The Consumer Price Index is expected to rise by 1.9% (annually adjusted). This is lower than last month’s 2.3%. If this happens, the Pound will suffer. This is the fisr indicator for the week, and quite a strong one indeed. Published on Tuesday, at 8:30 GMT.
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