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Cable Update (GBPUSD)

  • #139,881
  • Jun 24, 2009 11:56am Jun 24, 2009 11:56am
Quoting wormboy
500 man 500!! You forgot?
Yeah brov.....I know....feel crap..now lol....Anways...Pips are always to be made in the market....Hopefully.....I will sell on every retracement I get once I can confirm this bearish move.....

Anways Only one 2 trades open at present :
1.1.6513 now stop at break even
2.1.6470 No Stop yet

Will add as it goes down on retracements as I said......

Not gonna over flood a zone at present because of fomc..

What malcomlb is saying makes sense as well...if there is no chance you could see a test of the highs and go higher and take all the shorts out...
Let Price determine your future!
  • #139,882
  • Jun 24, 2009 12:00pm Jun 24, 2009 12:00pm
Quoting LuckyRoost
This is what I see as well (I'm buying every 75 pips down (I like DD)-- looking to hit 1.6369 though-- kind of a favorite spot the past couple of weeks...

Like you charts have shown over and over-- lots of buyers at 1.6250-- I bet pro's go for more than 300 pips (honestly I have no clue their targets) and it didn't appear to be a huge sell off when we broke the UTL today... Right now I think the folks at Goldman Sachs are just having fun with us...

seems odd if this was really sellers why volume have been on the slim fast plan on the way down .

i took a little long scalp 6420 for a little bounce.
Blogging daily now at www.volume.zone
  • #139,883
  • Jun 24, 2009 12:02pm Jun 24, 2009 12:02pm
Hi,

Do you think that EU & GU will come down with the scenario of changing the interest rate (if up).

That is my point of view.

Pham.
  • #139,884
  • Jun 24, 2009 12:04pm Jun 24, 2009 12:04pm
new 1 hour opened we may have this channel forming ... lets see if ltl holds

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  • #139,885
  • Jun 24, 2009 12:05pm Jun 24, 2009 12:05pm
Every time I think GBP/USD is going to push to the upside it comes back, though probably not too surprising before FOMC announcement today. Still long gbp/usd at 1.6428 from 3 days ago, watching it swing back and forth from loss to profit and back again. Wait for it, wait for it.....

Feel free to also join in on the FOMC discussion for the countdown. http://www.forexfactory.com/showthread.php?t=177845
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  • #139,886
  • Jun 24, 2009 12:09pm Jun 24, 2009 12:09pm
Quoting Pham
Hi,

Do you think that EU & GU will come down with the scenario of changing the interest rate (if up).

That is my point of view.

Pham.

yes of course ...

Interest rate increase would crush the markets. This is maybe their intention. Rate hike would likely kill any recovery in housing market.
Blogging daily now at www.volume.zone
  • #139,887
  • Jun 24, 2009 12:10pm Jun 24, 2009 12:10pm
Quoting Jason Rogers
Every time I think GBP/USD is going to push to the upside it comes back, though probably not too surprising before FOMC announcement today. Still long gbp/usd at 1.6428 from 3 days ago, watching it swing back and forth from loss to profit and back again. Wait for it, wait for it.....

Feel free to also join in on the FOMC discussion for the countdown. http://www.forexfactory.com/showthread.php?t=177845
Thank you for the info. My experience tell me that should not put a Long order with GU in this case.

Pham.
  • #139,888
  • Jun 24, 2009 12:19pm Jun 24, 2009 12:19pm
Quoting malcolmb14
yes of course ...

Interest rate increase would crush the markets. This is maybe their intention. Rate hike would likely kill any recovery in housing market.
I reckon GBP will have a rate increase before the US does and both of em are a ways off

Everyone is too scared of deflation to start hiking rates
An end to printing money will come first with rate hikes much later when the show is on the road

With stock markets pulling back, its not the time for a hike - anywhere

I am long from 6453 with gbp and euro

It will swing crazy all ways for an hour or two but my account can stand that

Its where it is tomorrow that counts
  • #139,889
  • Jun 24, 2009 12:19pm Jun 24, 2009 12:19pm
look like the bull is trying to take over, it could happen
  • #139,890
  • Jun 24, 2009 12:20pm Jun 24, 2009 12:20pm
bulls moving slowly up ?
  • #139,891
  • Jun 24, 2009 12:21pm Jun 24, 2009 12:21pm
so why did i take long when price was dropping fast ?

well fast down move into support no volume after I had seen low volume test on 15 min , one candle before drops. This is called a trap down move .. designed to trap the retail investor into taking a sell under support.

price stopped dead on a 5 min and fomed doji ... 6420 , target is 6480 ish then I am out waiting for next trade

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  • #139,892
  • Jun 24, 2009 12:21pm Jun 24, 2009 12:21pm
Quoting roreki
bulls moving slowly up ?
  • #139,893
  • Jun 24, 2009 12:25pm Jun 24, 2009 12:25pm
ha ha ha
u make me laugh really
i am sitting on my desk for more than 12 hours right now that's my last trade this day

i am from egypt if u know it
Good luck 2 u and all guys here
  • #139,894
  • Jun 24, 2009 12:25pm Jun 24, 2009 12:25pm
Something fishy here...
Hero Traders Live to see their Accounts Die!
  • #139,895
  • Jun 24, 2009 12:26pm Jun 24, 2009 12:26pm
I've enjoyed all the valuable insight on this thread. Malcomb14, have you noticed that the banks/big boys will run stops (or "traps") more frequently on the GU pair vs. other pairs? Or is it common on all pairs?

Thanks
  • #139,896
  • Jun 24, 2009 12:35pm Jun 24, 2009 12:35pm
Well out with bird in hand, looks trappish!
Hero Traders Live to see their Accounts Die!
  • #139,897
  • Jun 24, 2009 12:35pm Jun 24, 2009 12:35pm
Quoting woodlybog
I've enjoyed all the valuable insight on this thread. Malcomb14, have you noticed that the banks/big boys will run stops (or "traps") more frequently on the GU pair vs. other pairs? Or is it common on all pairs?

Thanks
i am 90% a gj trader ... just gu has been so lovely leading up to fomc last 2 days been messing with it.

I am have noticed gu often stops are shaken out. very quick 40 pip doiwn moves / shake outs.
Blogging daily now at www.volume.zone
  • #139,898
  • Jun 24, 2009 12:42pm Jun 24, 2009 12:42pm
Quoting roreki
ha ha ha
u make me laugh really
i am sitting on my desk for more than 12 hours right now that's my last trade this day

i am from egypt if u know it
Good luck 2 u and all guys here
  • #139,899
  • Jun 24, 2009 12:51pm Jun 24, 2009 12:51pm
Malcomb, when going for the big move at London open, is it best using a stop of at least say 100pips?


Also do you ever take trades against the trend or do you stick with trades in direction of trend, as you always say you don't like to swim up river?
  • #139,900
  • Jun 24, 2009 12:56pm Jun 24, 2009 12:56pm
i took 35 points from my last long , i will go to rest now and see u all in Asia ,, Good luck all
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