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Cable Update (GBPUSD)

  • #147,921
  • Jul 20, 2009 6:20am Jul 20, 2009 6:20am
Quoting albchr
Hi Bones,

Sorry for the newbie question here but, if it does, what's that mean for GU?

Geezzz...so much to learn...LOL
It should be bullish for cable, should equities break these tough levels of resistance (closing daily candle above 4,500 for FTSE100 and 950 for S&P500 - on an intra-day basis, however, both indices have been higher in recent weeks - 956.00 is high of S&P500, for instance).

This is based on sterling being seen, to a certain extent, as a barometer of broader risk appetite, which is demonstrated through its correlation with equities. And, of course, the greenback normally peforms poorly during times when the market is "risk-on".
  • #147,922
  • Jul 20, 2009 6:22am Jul 20, 2009 6:22am
Get ready to reverse . man check euro.

update: 5m pin on 4hour trendline woot.
  • #147,923
  • Jul 20, 2009 6:24am Jul 20, 2009 6:24am
Wow, non stop up stream since Japan
Great Bodies are Engineered not Born
  • #147,924
  • Jul 20, 2009 6:25am Jul 20, 2009 6:25am
Quoting KillPhil08
Get ready to reverse . man check euro.
Nice pin on 5M (G/U)
  • #147,925
  • Jul 20, 2009 6:26am Jul 20, 2009 6:26am
Quoting gammase1
It should be bullish for cable, should equities break these tough levels of resistance (closing daily candle above 4,500 for FTSE100 and 950 for S&P500 - on an intra-day basis, however, both indices have been higher in recent weeks - 956.00 is high of S&P500, for instance).

This is based on sterling being seen, to a certain extent, as a barometer of broader risk appetite, which is demonstrated through its correlation with equities. And, of course, the greenback normally peforms poorly during times when the market is "risk-on".
Thank You!!...
Ghost Rider - WWTBMD?
  • #147,926
  • Jul 20, 2009 6:26am Jul 20, 2009 6:26am
Quoting RichLadyFX
Wow, non stop up stream since Japan
what did Jack and Jill say ................
  • #147,927
  • Jul 20, 2009 6:29am Jul 20, 2009 6:29am
Quoting RichLadyFX
Wow, non stop up stream since Japan
One of the most experienced GU traders, who also owns a shipping company told me, never handle GU on any other time frame than 4 hour, the maximum profits are always on 4 hour.

for the past many hours i am hearing short calls from guys despite the 4 hour trend.

this trend will change at NY open only
  • #147,928
  • Jul 20, 2009 6:30am Jul 20, 2009 6:30am
Quoting forexlion
what did Jack and Jill say ................
Exactly. Which one made the call? Jack or Jill?
Great Bodies are Engineered not Born
  • #147,929
  • Jul 20, 2009 6:33am Jul 20, 2009 6:33am
Quoting forexlion
One of the most experienced GU traders, who also owns a shipping company told me, never handle GU on any other time frame than 4 hour, the maximum profits are always on 4 hour.

for the past many hours i am hearing short calls from guys despite the 4 hour trend.

this trend will change at NY open only
Noted. So you are expecting a reversal in NY session?
Great Bodies are Engineered not Born
  • #147,930
  • Jul 20, 2009 6:34am Jul 20, 2009 6:34am
Quoting RichLadyFX
Exactly. Which one made the call? Jack or Jill?
15 min is getting badly exhausted, but it still has some juice
  • #147,931
  • Jul 20, 2009 6:35am Jul 20, 2009 6:35am
If this 4H closes above 6535, I don't think I'll let it get to my stop loss.
Ghost Rider - WWTBMD?
  • #147,932
  • Jul 20, 2009 6:37am Jul 20, 2009 6:37am
Hey Christopher you and me both still learners, and also fellow carpenters with sharp eyes
Paul (Gammase1) has very elegantly answered the question better than I ever could.

Regards Tony

Quoting albchr
Hi Bones,

Sorry for the newbie question here but, if it does, what's that mean for GU?

Geezzz...so much to learn...LOL
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #147,933
  • Jul 20, 2009 6:38am Jul 20, 2009 6:38am
forexlion i have send you a PM.
  • #147,934
  • Jul 20, 2009 6:42am Jul 20, 2009 6:42am
Quoting Bones
Hey Christopher you and me both still learners, and also fellow carpenters with sharp eyes
Paul (Gammase1) has very elegantly answered the question better than I ever could.

Regards Tony
Well then we learn together. Pleasure to meet you Brother WoodWorker!!

She's hammering on 6550's door now.....
Ghost Rider - WWTBMD?
  • #147,935
  • Jul 20, 2009 6:44am Jul 20, 2009 6:44am
Quoting Bones
Hey Christopher you and me both still learners, and also fellow carpenters with sharp eyes
Paul (Gammase1) has very elegantly answered the question better than I ever could.

Regards Tony
I have learnt a lot from you, Tony, and a couple of others from the Daily Candle thread. So much so, in fact, that I was inspired to purchase Steve Nison's book, which I constantly refer to and study.

Cheers, Paul
  • #147,936
  • Jul 20, 2009 6:44am Jul 20, 2009 6:44am
Quoting forexlion
I will close my current longs @ 1.6546 area and call it a day, and reconsider fresh entry at 1 AM GMT tomorrow

but if it breaks then I will hold them with SL at 1.6546 either way I gain
yipeeee ,

well i closed out all longs here

time to sleep

Jack and Jill to trade close was a loooooooooong journey indeed.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 16 KB
  • #147,937
  • Jul 20, 2009 6:45am Jul 20, 2009 6:45am
Yes mate im up for that.

Quoting albchr
Well then we learn together
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #147,938
  • Jul 20, 2009 6:50am Jul 20, 2009 6:50am
Quoting Bull_Bear
No yet buddy.....picture is pretty grime for shorts right now.... 2 triangle outs... will not short EUR till at least 1.4260 and cable @ 1.6550. EUR been dictating directional play
Pulling the Trigger a tad early.....

Short Cable @ 1.6545.... SL 1.6610..... TP 1.6250

Short EUR @ 1.4240.... SL 1.4310..... 1.4010
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #147,939
  • Jul 20, 2009 6:54am Jul 20, 2009 6:54am
Thats so cool Paul ,candles can be tricky,of course I think its Hussins dream to unravel them in the real world for us.

Quoting gammase1
I have learnt a lot from you, Tony, and a couple of others from the Daily Candle thread. So much so, in fact, that I was inspired to purchase Steve Nison's book, which I constantly refer to and study.

Cheers, Paul
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #147,940
  • Jul 20, 2009 6:57am Jul 20, 2009 6:57am
Quoting forexlion
yipeeee ,

well i closed out all longs here

time to sleep

Jack and Jill to trade close was a loooooooooong journey indeed.
Weldone Lion after a long Jack and Jill profitable trade.
I think your jack and jill is that unusual price action based indicator,that is soooo good.
Pls, i want you to confirm before i post it in the forum.
Thanks,waiting for your response before you sleep
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