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Cable Update (GBPUSD)

  • #147,001
  • Jul 16, 2009 10:56am Jul 16, 2009 10:56am
the price is up for now 1.6453..it seems the price is very unpredictable for now..i think its because of the news right now
  • #147,002
  • Jul 16, 2009 10:57am Jul 16, 2009 10:57am
Looks like a head fake before the bear bites again. If not, its gotta close above today's high to convince me.
There's always money in the banana stand.
  • #147,003
  • Jul 16, 2009 11:00am Jul 16, 2009 11:00am
Quoting LizardGizzard
Looks like a head fake before the bear bites again. If not, its gotta close above today's high to convince me.
yeah..i think you are right..lets just follow the trend then..
  • #147,004
  • Jul 16, 2009 11:04am Jul 16, 2009 11:04am
Hi Wormboy,

Third H4 candle has been closed already. Maybe you can suggest us something? Shell we still wait, or ...

Thank you,
London Trader


[quote=wormboy;2879284]
Discomfort and profit often stand side by side
  • #147,005
  • Jul 16, 2009 11:08am Jul 16, 2009 11:08am
im calling off now..its sleeping time for me now..

gud luk guys
  • #147,006
  • Jul 16, 2009 11:14am Jul 16, 2009 11:14am
Quoting i1tolearn
sure grashid has tons of money in his accounts
so -300pips mean nothing to him.
to me, 300pips...mmm will wipe out my account
..how u know my entry ya..
anyway -300pipsX10sen=just USD30 bro....
  • #147,007
  • Jul 16, 2009 11:23am Jul 16, 2009 11:23am
i have taken short @ 6452, would like to see some bounce to 6420 level, how do you think guys, will gbp brake highs during asian session, i'm kind of confused about last 40 min move!?
  • #147,008
  • Jul 16, 2009 11:30am Jul 16, 2009 11:30am
Quoting nederlandkid
the 1hr bearish divergence is very strong, with the uptrend line being broken. this divergence can also be seen on the 4hr. I expect price to continue to fall, finding support around 1.62 (which is the support of the trading range from a few weeks back and is also the 61.8 retracement. If it breaks that, than who know maybe we can get below 1.6.

If you are not already short i would be looking to get in at 1.645, with a sl being a close above 1.65. Very good risk to reward.

good luck with everyones trading today

As I said that wasnt divergence!!
  • #147,009
  • Jul 16, 2009 11:33am Jul 16, 2009 11:33am
Quoting alex1976
why is everyone so adamant about this thing dropping?

the trend is still up!

so why go against it?

As I said 13 hours ago, the trend is your best friend, dont forget it!!
  • #147,010
  • Jul 16, 2009 11:38am Jul 16, 2009 11:38am
Quoting alex1976
As I said 13 hours ago, the trend is your best friend, dont forget it!!
that was the best way to put it..
  • #147,011
  • Jul 16, 2009 11:41am Jul 16, 2009 11:41am
Yeah, apparently was not a headfake.
There's always money in the banana stand.
  • #147,012
  • Jul 16, 2009 11:41am Jul 16, 2009 11:41am
Quoting nAVIN2007
that was the best way to put it..

Thanks Navin, Im glad were on the same page!!
  • #147,013
  • Jul 16, 2009 11:42am Jul 16, 2009 11:42am
Quoting alex1976
Thanks Navin, Im glad were on the same page!!
always bro always
  • #147,014
  • Jul 16, 2009 12:23pm Jul 16, 2009 12:23pm
Quoting i1tolearn
Gu as what I see.
If price break 1.6390, my TP will be 1.6360, 1.6300
DITTO!!!
Hero Traders Live to see their Accounts Die!
  • #147,015
  • Jul 16, 2009 12:45pm Jul 16, 2009 12:45pm
we have a SHS forming in 5 min tf and 4h is nice for short.
  • #147,016
  • Jul 16, 2009 12:48pm Jul 16, 2009 12:48pm
Quoting alex1976
As I said 13 hours ago, the trend is your best friend, dont forget it!!

I find this really funny. And I fail to see why your....so demanding!!!!!!! with all the explanation points...LOL as if you're yelling at us.

Yep, you said this 13 hours ago. But price has been bouncing in here for 30 hours now.

The trend is your friend UNTIL IT ENDS!!!!! LOL

Personally, I look for the end of trends to trade. I want the reversals. Can you point to (within the last 30 hours) anything that either says the "trend" will continue OR die?? I think not.

When you really think about it, there really are no trends. Just price fluctuations within a range. The size of the "Range" may vary but still, it's a range. And every "Range" is made up of smaller "Trends" in BOTH directions due to reversals. It's in finding these reversals we make money.

I made an absolute KILLING playing the "Range" between 6200 & 6600 over the past weeks (June 11 to July 6) taking trades in both directions you'd call trends. The last of which was a DOWN "trend" that ended at the 6000ish level July 8 and then turned up. Then down, then up again. So, where exactly is that UP stopping? I have no idea but with 6450 having been such strong resistance/support through that whole time, who's to say it's not right here and will reverse?

Just a thought.
Ghost Rider - WWTBMD?
  • #147,017
  • Jul 16, 2009 1:09pm Jul 16, 2009 1:09pm
Dow Jones Industrial Average
8,711.82+95.61 / +1.11%
Jul 16 4:04pm ET †
Open:8,612.66High (day):8,739.55Low (day):8,584.40YTD%Change:-0.74%Volume:216,509,410.00Prev. Close:8,616.2152-Week Range (Low - High):6,469.95 - 11,867.11
  • #147,018
  • Jul 16, 2009 1:20pm Jul 16, 2009 1:20pm
Quoting albchr
who's to say it's not right here and will reverse?

Just a thought.

completely agrees...
  • #147,019
  • Jul 16, 2009 1:34pm Jul 16, 2009 1:34pm
Looks like G/U is due for a reversal
  • #147,020
  • Jul 16, 2009 1:47pm Jul 16, 2009 1:47pm
Gone Short at 1.6442 with T/P 1.6400 and S/L 1.6490

Happy Trading
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