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Cable Update (GBPUSD)

  • #139,381
  • Jun 23, 2009 10:08am Jun 23, 2009 10:08am
Today's chart 5 min

well i had a tough time avoiding trades
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  • #139,382
  • Jun 23, 2009 10:16am Jun 23, 2009 10:16am
Hi guys, this is just my analysis of what just happened. Just my humble opinion.
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  • #139,383
  • Jun 23, 2009 10:17am Jun 23, 2009 10:17am
dollar looking super weak... i'm out of scalp re-short from 1.6310 +2p. may be done for day unless great long scalp appears...

or if we drop again soon... not rulin that one out
  • #139,384
  • Jun 23, 2009 10:18am Jun 23, 2009 10:18am
Quoting forexlion
Today's chart 5 min

well i had a tough time avoiding trades
don't bother with what happened on what is happening

just catch them pips and run ( this is 1 min )
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  • #139,385
  • Jun 23, 2009 10:20am Jun 23, 2009 10:20am
Quoting Ferick
Will have to get past 1.62, which is tough but given the sentiment I think It might give way. That looks like the path of least resistance. I just don't see it going up above 1.65 where my SL is located. I can afford to take more risk on this trade and I am betting on the South Train.
Well, looks like 1.62 held, which puts cable in the dreaded range. Looking to drop my short now if 1.62 is not challenged again today.
  • #139,386
  • Jun 23, 2009 10:21am Jun 23, 2009 10:21am
Quoting Ipips
That's actually a good place to short. That's the area where those traders who were expecting a bounce off the 5 min trendline would want to get out of their positions at B/E...
  • #139,387
  • Jun 23, 2009 10:23am Jun 23, 2009 10:23am
Quoting Faryad
Hey jack canadia
howz yew my friend
good good.. havnt been tradin/around here much
thought id get in for a scalp

how you doing
  • #139,388
  • Jun 23, 2009 10:24am Jun 23, 2009 10:24am
Do you want to put buy order Man?

Pham
  • #139,389
  • Jun 23, 2009 10:27am Jun 23, 2009 10:27am
Quoting jack.canadia
good good.. havnt been tradin/around here much
thought id get in for a scalp

how you doing
FINE THANKS
  • #139,390
  • Jun 23, 2009 10:29am Jun 23, 2009 10:29am
Resistance broken... Got stopped out.
  • #139,391
  • Jun 23, 2009 10:35am Jun 23, 2009 10:35am
Quoting Ifty
Hi Bro. Me still in trade and it seems to be gaining momentum. The Parabolic sar is showing strength on the 1min chart. Lets see how it goes. I have already moved my SL to +15 and will keep increasing to protect profit.
Yipeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee. Out at TP 1.6350. Wow that felt great.

Thats +77 pips.
You've got to be IN IT to WIN IT!
  • #139,392
  • Jun 23, 2009 10:39am Jun 23, 2009 10:39am
Quoting Ipips
Resistance broken... Got stopped out.
Which resistance that has been broken? I guess resistance is @ 1.6375 area, which is not reached yet
  • #139,393
  • Jun 23, 2009 10:42am Jun 23, 2009 10:42am
Quoting Ipips
Resistance broken... Got stopped out.
6400 level is not broken ipips.
Thank You
  • #139,394
  • Jun 23, 2009 10:43am Jun 23, 2009 10:43am
Quoting pino2
Which resistance that has been broken? I guess resistance is @ 1.6375 area, which is not reached yet
Oh i was in for a short scalp earlier. Resistance was 1.6320. Yes, you're right. Longer term resistance is around there..
  • #139,395
  • Jun 23, 2009 10:45am Jun 23, 2009 10:45am
Quoting wormboy
6400 level is not broken ipips.
That's right wormboy. Today's close will be key.. Very interesting to see how this plays out.

What's your view on this longer term?
  • #139,396
  • Jun 23, 2009 10:47am Jun 23, 2009 10:47am
Hi All,

Nice trades on the GU today. Anyone anticipating a sell of in the 1.6350 area?





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+108pips this week
Hero Traders Live to see their Accounts Die!
  • #139,397
  • Jun 23, 2009 10:51am Jun 23, 2009 10:51am
Up down up down up down up down, the trend continues.
Great Bodies are Engineered not Born
  • #139,398
  • Jun 23, 2009 10:52am Jun 23, 2009 10:52am
Quoting Ferick
Well, looks like 1.62 held, which puts cable in the dreaded range. Looking to drop my short now if 1.62 is not challenged again today.

Dropped my short for +210 pips. Will only short it above 1.65.
  • #139,399
  • Jun 23, 2009 10:53am Jun 23, 2009 10:53am
Quoting simoneg
Hi All,

Nice trades on the GU today. Anyone anticipating a sell of in the 1.6350 area?





------
+108pips this week
yes - what worries me is that the euro/gbp is so perpendicular

If euro and gbp had risen together against USD I would be more confident

I have shorted Euro/gbp and doing a bit against USD
  • #139,400
  • Jun 23, 2009 10:54am Jun 23, 2009 10:54am
Quoting Ipips
That's right wormboy. Today's close will be key.. Very interesting to see how this plays out.

What's your view on this longer term?
Ok.
i think we'll consolidate a bit more & I think 6400 level is key. close above it & I don't think 6600 level will be able to hold buyers. Close below 6400 & we'll probably breakout lower back to my 5300
Either way, I'm staying out for now, my tl's are getting narrower - not a good idea if I pull a trade now.
Earlier chart : http://www.forexfactory.com/showpost...stcount=139319

Good luck
Thank You
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