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Cable Update (GBPUSD)

  • #144,901
  • Jul 9, 2009 2:30pm Jul 9, 2009 2:30pm
Quoting Lejumeau
never heard such a thing it is probably rumors

It does sound to mad to be true, 5abi's was on about it on this or the Eurusd, but why not big thread about it ??

Dunno!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #144,902
  • Jul 9, 2009 2:34pm Jul 9, 2009 2:34pm
Stocks are weakening. We're finally playing 'by the book' again
  • #144,903
  • Jul 9, 2009 2:36pm Jul 9, 2009 2:36pm
Quoting learntowin
Me too,

Unlucky, I missed the last train
and I will buy all my power if She gets back there again.

We can see USD is ruined and gonna be worthless now

So let go long anything except for USD

That 's my thought
  • #144,904
  • Jul 9, 2009 2:41pm Jul 9, 2009 2:41pm
Quoting learntowin
We can see USD is ruined and gonna be worthless now

So let go long anything except for USD

That 's my thought
I totally agree mate. Listen to peter schiff and gerald celente on youtube and see what they say.
You've got to be IN IT to WIN IT!
  • #144,905
  • Jul 9, 2009 2:44pm Jul 9, 2009 2:44pm
TKS Ifty

So anyone go long with me this time ?

Long for the total Down of USD from now on
  • #144,906
  • Jul 9, 2009 2:55pm Jul 9, 2009 2:55pm
Here is what I think even if the last 2 week look quite chopy still 1.6380 seem to be the support area.

Now support when is broke become resistance, that is wy the price stop a that level today. since this previous support was holding quite many time it should become a pretty good resistance from now on.

So this is the first reason to have a good entry for short at this level.
Second a move a 400pip in a day for sure market get exhaust it need too retrace.
third reason the price on it up move failed short just about 40pip to hit the weekly pivot. many time when price failed short to hit a pivot point it will go back to his previous pivot to find support or resistance.

so from this point of view I'm still keeping my short at 1.6300 until it brake the 6380 resistance. if not it could be a wonderful wawe down back to 5800 Why not gu is capable of everything

Stil I can be wrong but that is my plan.
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  • #144,907
  • Jul 9, 2009 3:02pm Jul 9, 2009 3:02pm
views don't mean anything in this game!

Fact of the matter is price is in uptrend!

Yes it has moved a great amount, so theoretically we should look for a retracement.

However there is a greater than 50% chance (probability) we will see price go up further, from what retracement level I don't know!
  • #144,908
  • Jul 9, 2009 3:03pm Jul 9, 2009 3:03pm
Quoting Lejumeau
Here is what I think even if the last 2 week look quite chopy still 1.6380 seem to be the support area.

Now support when is broke become resistance, that is wy the price stop a that level today. since this previous support was holding quite many time it should become a pretty good resistance from now on.

So this is the first reason to have a good entry for short at this level.
Second a move a 400pip in a day for sure market get exhaust it need too retrace.
third reason the price on it up move failed short just about 40pip to hit the weekly...

TKS Bro

But as i thought, USD is ruined and gonna be worthless now

Strong Pivot @ 1.6345 seems hold firmedly

Long From here seems OK

Let try it
  • #144,909
  • Jul 9, 2009 3:06pm Jul 9, 2009 3:06pm
Quoting alex1976
views don't mean anything in this game!

Fact of the matter is price is in uptrend!

Yes it has moved a great amount, so theoretically we should look for a retracement.

However there is a greater than 50% chance (probability) we will see price go up further, from what retracement level I don't know!
the fact too is the trend was still on a down trend just last evening and see what happen it reverse on dime.
  • #144,910
  • Jul 9, 2009 3:06pm Jul 9, 2009 3:06pm
Quoting Lejumeau
Here is what I think even if the last 2 week look quite chopy still 1.6380 seem to be the support area.

Now support when is broke become resistance, that is wy the price stop a that level today. since this previous support was holding quite many time it should become a pretty good resistance from now on.

So this is the first reason to have a good entry for short at this level.
Second a move a 400pip in a day for sure market get exhaust it need too retrace.
third reason the price on it up move failed short just about 40pip to hit the weekly...
completely agree with you, also those arrows that you have where people were buying alot of them going to panick now because their longs went underwater when price went to 1.6 and they will most likely start liquidating their positions at current levels as they feel reliefed that they got this opportunity. also 400 pips is unusual in the current market so unless we are going to have much increased volatility like we did last summer ( very probable) it will have to retrace before going further. My projection though is that this was shakeout of weak shorts and it will continue to 1.58 and probably below.
  • #144,911
  • Jul 9, 2009 3:09pm Jul 9, 2009 3:09pm
Quoting lexazver
completely agree with you, also those arrows that you have where people were buying alot of them going to panick now because their longs went underwater when price went to 1.6 and they will most likely start liquidating their positions at current levels as they feel reliefed that they got this opportunity. also 400 pips is unusual in the current market so unless we are going to have much increased volatility like we did last summer ( very probable) it will have to retrace before going further. My projection though is that this was shakeout of weak...

that being siad we could still spike above 1.64 just to shake out stops.

if we go below 6320 shorts are in play.
  • #144,912
  • Jul 9, 2009 3:10pm Jul 9, 2009 3:10pm
o yes I forgot this one this is the 50%fib retracement that was not able to close on top so another reason for me.
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  • #144,913
  • Jul 9, 2009 3:16pm Jul 9, 2009 3:16pm
Quoting Lejumeau
the fact too is the trend was still on a down trend just last evening and see what happen it reverse on dime.

Price took out the 61.8 fib level yesterday at 8.00pm, of that last days down move, so the trend switched to up before the uk market even opened.


Yes, upto yesterday the trend was still down, but now its up!

Don't hold onto yesterdays dreams, move with the cheese!
  • #144,914
  • Jul 9, 2009 3:22pm Jul 9, 2009 3:22pm
Quoting alex1976
Price took out the 61.8 fib level yesterday at 8.00pm, of that last days down move, so the trend switched to up before the uk market even opened.


Yes, upto yesterday the trend was still down, but now its up!

Don't hold onto yesterdays dreams, move with the cheese!
Agree with you,

unless we see a retrace I wouldn't go long otherwise this would be buying the top. so I,m just going on the fact that there is many good reason that this will retrace for a certain amount. maybe not but some odd are there for that happening.
  • #144,915
  • Jul 9, 2009 3:24pm Jul 9, 2009 3:24pm
Just see

USD is ruined and worrthless, that 's all for the reason to get long now
  • #144,916
  • Jul 9, 2009 3:27pm Jul 9, 2009 3:27pm
Quoting Lejumeau
Agree with you,

unless we see a retrace I wouldn't go long otherwise this would be buying the top. so I,m just going on the fact that there is many good reason that this will retrace for a certain amount. maybe not but some odd are there for that happening.

Yes, a good retracement would be best before going into a long position!

Anywhere between 200 and 290 close to uk open would be good.
  • #144,917
  • Jul 9, 2009 3:29pm Jul 9, 2009 3:29pm
However if it tanks lower than say 150, 160, then look for a reversal back to short!
  • #144,918
  • Jul 9, 2009 3:35pm Jul 9, 2009 3:35pm
Quoting alex1976
Price took out the 61.8 fib level yesterday at 8.00pm, of that last days down move, so the trend switched to up before the uk market even opened.


Yes, upto yesterday the trend was still down, but now its up!

Don't hold onto yesterdays dreams, move with the cheese!
Looks like the market has changed its shirt...I mean sentiment ,again...!?
  • #144,919
  • Jul 9, 2009 3:36pm Jul 9, 2009 3:36pm
Quoting Turveyd
Really definately Mine not the thread starter ???

Really Really, I gave up on that system awhile ago, although it worked it didn't suite how I trade so I've got a new 1 that wipes that 1 easy

Try it with these SMA's M1 20SMA Smoothed and 100 SMA Smoothed, those Smoothed SMA's out perform my previous SMA's hugely.
Well i have the teamplates from you so i`m calling it yours....

I`m not changing what already works.

I just added some of my own rules... and look at pivots and resistance suport so i don`t buy when it`s about to reach a pivot without waiting for a small retrace and so on...

But the system works great.... just make sure you are not the weak link by letting losses run longer or not setting sl to be after a few pips... even if it retraces and you hit be or +1 pips, there are plenty of times it won`t retrace and you will get 20-80 pips... If it retraces before you have the chance to set SL@BE just get out of it after 7-8 pips loss... not worth waiting any more...

Green pips!
  • #144,920
  • Jul 9, 2009 3:36pm Jul 9, 2009 3:36pm
Quoting alex1976
views don't mean anything in this game!

Fact of the matter is price is in uptrend!

Yes it has moved a great amount, so theoretically we should look for a retracement.

However there is a greater than 50% chance (probability) we will see price go up further, from what retracement level I don't know!
good thinking...we just dont know....hence the use of good mm incase we get it wrong
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