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Cable Update (GBPUSD)

  • #150,161
  • Jul 23, 2009 10:37am Jul 23, 2009 10:37am
Quoting stewrigh
See my posts from this morning and yesterday - 66 is the top of range.
From todays top, whenever it comes some good shorting apportunity shall be worth takikg.
Just be patient for the upwards momentum to get tired, it surly is coming, poss above 1.66 as you have indicated. (For those trading Delta ITD 5 is arriving on time.)
Make sure losses are small and profits are bigger!
  • #150,162
  • Jul 23, 2009 10:38am Jul 23, 2009 10:38am
Quoting errich fx
Attachment

here is my support line,

________________

when to use MA

.
why is your avatar so scary?
  • #150,163
  • Jul 23, 2009 10:41am Jul 23, 2009 10:41am
Well I hope 6550 acts as support now....LOL
Ghost Rider - WWTBMD?
  • #150,164
  • Jul 23, 2009 10:41am Jul 23, 2009 10:41am
Going down, shorts, now??
Only thing going down right now is the dollar:
Attached Image


We're in "rocket ride" up mode. Be careful now, unless you are long from 1.6460 or 1.6510, of course
  • #150,165
  • Jul 23, 2009 10:46am Jul 23, 2009 10:46am
Quoting ganymedes
Going down, shorts, now??
Only thing going down right now is the dollar:
Attachment

We're in "rocket ride" up mode. Be careful now, unless you are long from 1.6460 or 1.6510, of course

LOL..how about long 6564?.......
Ghost Rider - WWTBMD?
  • #150,166
  • Jul 23, 2009 10:52am Jul 23, 2009 10:52am
Quoting albchr
LOL..how about long 6564?.......
hhaha .. I went short while my chart telling me long .. got burned 30 some pips LOL
  • #150,167
  • Jul 23, 2009 10:57am Jul 23, 2009 10:57am
Quoting mktjong
hhaha .. I went short while my chart telling me long .. got burned 30 some pips LOL

Yeah well, by the looks of it, I may get taken out on this one too...

SL 6534....we'll see..........
Ghost Rider - WWTBMD?
  • #150,168
  • Jul 23, 2009 11:01am Jul 23, 2009 11:01am
Quoting 2be
From todays top, whenever it comes some good shorting apportunity shall be worth takikg.
Just be patient for the upwards momentum to get tired, it surly is coming, poss above 1.66 as you have indicated. (For those trading Delta ITD 5 is arriving on time.)
1.66 may well be the top but the current treend is up and I'm long till the trend is down.

I learnt the hard way that calling tops and bottoms is a mugs game.
  • #150,169
  • Jul 23, 2009 11:03am Jul 23, 2009 11:03am
Methinks but not 100%. It will hit the high or 166 within the next few hours. After I will stick some shorts on and hold through asia. I will close during UK GDP.

Lets entry search.
  • #150,170
  • Jul 23, 2009 11:05am Jul 23, 2009 11:05am
Quoting stewrigh
1.66 may well be the top but the current treend is up and I'm long till the trend is down.

I learnt the hard way that calling tops and bottoms is a mugs game.
This is what confuses me Stew. Just how do you know when the "trend" is now down?

I've traded what most would call many up & down "trends" over the last 2 months. How high does price have to get and then turn before you'd call it a down trend?

I mean, would it have to get above 2.1143 and then turn down? Or when the monthly starts showing some red bars? Really curious, not trying to be a wise guy.
Ghost Rider - WWTBMD?
  • #150,171
  • Jul 23, 2009 11:07am Jul 23, 2009 11:07am
Quoting ganymedes
Going down, shorts, now??
Only thing going down right now is the dollar:
Attachment

We're in "rocket ride" up mode. Be careful now, unless you are long from 1.6460 or 1.6510, of course
THV system by cobra forex team .... ??
  • #150,172
  • Jul 23, 2009 11:09am Jul 23, 2009 11:09am
Newton's law; To every action there is an equal and opposite reaction.
Stay cool with this law or else we will be trapped.
Pride of opinion is a characteristic of losing traders
  • #150,173
  • Jul 23, 2009 11:11am Jul 23, 2009 11:11am
Quoting albchr
LOL..how about long 6564?.......
1.6555 shows up as a daily resistance level on my charts, I guess we're actually testing it as support now. So a long entry would be 'by the book' if it holds, though being quite late to join the rally. Narrow consolidation in Dow and crude for the last hour, crude just poked a couple of cents higher. Let's see what happens when we start to move again...
  • #150,174
  • Jul 23, 2009 11:14am Jul 23, 2009 11:14am
Quoting ganymedes
1.6555 shows up as a daily resistance level on my charts, I guess we're actually testing it as support now. So a long entry would be 'by the book' if it holds, though being quite late to join the rally. Narrow consolidation in Dow and crude for the last hour, crude just poked a couple of cents higher. Let's see what happens when we start to move again...
I think long should be careful as well as Cable is closed to its daily range and Geppy is already over extended. I am expecting the Geppy to pull back a bit which may affect the Cable ..
  • #150,175
  • Jul 23, 2009 11:16am Jul 23, 2009 11:16am
Quoting albchr
Yeah well, by the looks of it, I may get taken out on this one too...

SL 6534....we'll see..........
Good luck, may the rocket be with you!
  • #150,176
  • Jul 23, 2009 11:19am Jul 23, 2009 11:19am
Crude's continuing UP
  • #150,177
  • Jul 23, 2009 11:19am Jul 23, 2009 11:19am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
folks we were at 159xx something 12 days ago and we have only come up, no zig zag nothing. Few hiccups but that's part of the game. This assures that trend is up. As said this morning, dow closing in red was confusing but that's what big guys do to attract shorts and take them out later :-)

166200 then retrace ....tomorrow maybe 67300, who knows what asia has got for us. They surprised today!


ams
  • #150,178
  • Jul 23, 2009 11:22am Jul 23, 2009 11:22am
Quoting iqyusan
THV system by cobra forex team .... ??
Yes, that's a Cobra chart
  • #150,179
  • Jul 23, 2009 11:23am Jul 23, 2009 11:23am
Quoting mktjong
I think long should be careful as well as Cable is closed to its daily range and Geppy is already over extended. I am expecting the Geppy to pull back a bit which may affect the Cable ..
I would not be surprised by a spike to the round number 1.6600 with the momentum reversing just above that level. I am setting market order to go short & 1.6615 with SL 1.6665. It is a risky trade, H4 and daily momentum providing some insight. Market order just in case I am not at the comp.
Make sure losses are small and profits are bigger!
  • #150,180
  • Jul 23, 2009 11:23am Jul 23, 2009 11:23am
Quoting mktjong
I think long should be careful as well as Cable is closed to its daily range and Geppy is already over extended. I am expecting the Geppy to pull back a bit which may affect the Cable ..
Actually it's being supported by the otherside of the 4hour downtrend. If you have a look. Until it trades back into that area im not shorting.
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