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Cable Update (GBPUSD)

  • #153,221
  • Jul 30, 2009 8:07pm Jul 30, 2009 8:07pm
buddy it does not seem right. I just closed my longs. Looking to enter shorts.

Quoting Yngwie
me too!
Its all in the mind.
  • #153,222
  • Jul 30, 2009 8:11pm Jul 30, 2009 8:11pm
This one is tricky to call!

There's reasons for both long and short!lol
  • #153,223
  • Jul 30, 2009 8:12pm Jul 30, 2009 8:12pm
Hmmm. Opinions/bias change when new facts come forth. This thing will now drop to 6450.



Quoting alex1976
This one is tricky to call!

There's reasons for both long and short!lol
Its all in the mind.
  • #153,224
  • Jul 30, 2009 8:16pm Jul 30, 2009 8:16pm
why do you think it will drop now?
Disclaimer: Check your 1m charts
  • #153,225
  • Jul 30, 2009 8:18pm Jul 30, 2009 8:18pm
Quoting 5abi
Hmmm. Opinions/bias change when new facts come forth. This thing will now drop to 6450.
what make your opinions change?
  • #153,226
  • Jul 30, 2009 8:19pm Jul 30, 2009 8:19pm
Quoting pipper
why do you think it will drop now?

Immediate trend is up, don't go short until it's down, never bet on the market changing direction, it's a bad bet!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #153,227
  • Jul 30, 2009 8:22pm Jul 30, 2009 8:22pm
Not having earned tonight is better than having lost. I have 2 things- minor details is I saw resistance at 6520. 2nd and major thing is that tomorrow is USD GDP number. They are saying it is going to be -1.4 % . I am havin doubts that it could be worse than that---these big traders have information that we retailers do not. Pressure has been built here at 6520 and they are laying in wait for as many longs to gather here as possible. This thing is going to most probably drop now- (remember my now translate to 8-10 hours) so dont be dissapointed prematurely.

PS--- I am going to take more risk than usual. I will sleep with an entry at 6600, just in case. But am also going to add shorts to GYen. I am leaving euro dollar alone.

Quoting Lejumeau
what make your opinions change?
Its all in the mind.
  • #153,228
  • Jul 30, 2009 8:22pm Jul 30, 2009 8:22pm
Do you have a new Darma chart for today?
  • #153,229
  • Jul 30, 2009 8:23pm Jul 30, 2009 8:23pm
even if it reaches level 6600 it will drop immediately to 6430 today
ROBOT FOREX
  • #153,230
  • Jul 30, 2009 8:24pm Jul 30, 2009 8:24pm
I'm sorry but look at my lines, all lines going up, price found support @1.6500 and skipped off my yellow line just as it should do.

It could break under, but as said it's a bad bet, wait until the price is under my lines and showing resistance before going short.

Yesterdays highs is about all you've got in your favour, once those are taken next will be your stops.
Attached Image (click to enlarge)
Click to Enlarge Name: look at my lines there going up.gif Size: 15 KB
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #153,231
  • Jul 30, 2009 8:27pm Jul 30, 2009 8:27pm
Quoting 5abi
Not having earned tonight is better than having lost. I have 2 things- minor details is I saw resistance at 6520. 2nd and major thing is that tomorrow is USD GDP number. They are saying it is going to be -1.4 % . I am havin doubts that it could be worse than that---these big traders have information that we retailers do not. Pressure has been built here at 6520 and they are laying in wait for as many longs to gather here as possible. This thing is going to most probably drop now- (remember my now translate to 8-10 hours) so dont be dissapointed...
thanks for your insigth .. I'm still short at 6500 I'm holding agains my strategy a bit because of the resistance high of today,, if price brake the high of today i will close my short and I think that is what is going to happen... the pressure fro buying seems so strong
but this is what the big guy want you to think isn't it ???
  • #153,232
  • Jul 30, 2009 8:32pm Jul 30, 2009 8:32pm
Quoting 5abi
buddy it does not seem right. I just closed my longs. Looking to enter shorts.
I believe Bull is over if in this hour 1.6504 breaks
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #153,233
  • Jul 30, 2009 8:34pm Jul 30, 2009 8:34pm
gbpjpy is not reacting like gbpusd
  • #153,234
  • Jul 30, 2009 8:35pm Jul 30, 2009 8:35pm
What was the high today? you mean 6552?

If you are in a short, then give it some more room. 6635 stop may be? I know it is wide, but it lessens manipulation.

Quoting Lejumeau
thanks for your insigth .. I'm still short at 6500 I'm holding agains my strategy a bit because of the resistance high of today,, if price brake the high of today i will close my short and I think that is what is going to happen... the pressure fro buying seems so strong
but this is what the big guy want you to think isn't it ???
Its all in the mind.
  • #153,235
  • Jul 30, 2009 8:38pm Jul 30, 2009 8:38pm
Quoting Lejumeau
gbpjpy is not reacting like gbpusd
I think yen is being sold off in the last 20 hours in preference for usd.
  • #153,236
  • Jul 30, 2009 8:38pm Jul 30, 2009 8:38pm
Quoting 5abi
What was the high today? you mean 6552?

If you are in a short, then give it some more room. 6635 stop may be? I know it is wide, but it lessens manipulation.
1.6525 the high but when i said if it break the high always mean that i will wait at least for the 1hre candle closed above and see if the next one will folow because many time in a new high you always have a chance of a pulback to get out.
  • #153,237
  • Jul 30, 2009 8:38pm Jul 30, 2009 8:38pm
sometimes it work sometimes it does not. for example, I had a short on GY Which I just closed with 37 pips. at one point half an hour back price touched 5780. That did not mean bull had begun- it is just one of those spikes to take your stops.

Quoting Yngwie
I believe Bull is over if in this hour 1.6504 breaks
Its all in the mind.
  • #153,238
  • Jul 30, 2009 8:39pm Jul 30, 2009 8:39pm
Quoting 5abi
What was the high today? you mean 6552?

If you are in a short, then give it some more room. 6635 stop may be? I know it is wide, but it lessens manipulation.
I think GU is not possible to go up to 6635. But lets see.
  • #153,239
  • Jul 30, 2009 8:40pm Jul 30, 2009 8:40pm
as I just said that works sometime, some time it does not. Always better to look also at the rate at which price is changing. I dont know if they have an indicator or something, but that is also helpful to determine momentum.



Quoting Lejumeau
1.6525 the high but when i said if it break the high always mean that i will wait at least for the 1hre candle closed above and see if the next one will folow because many time in a new high you always have a chance of a pulback to get out.
Its all in the mind.
  • #153,240
  • Jul 30, 2009 8:44pm Jul 30, 2009 8:44pm
technically it is possible, it has been wanting to break that from some days now. so it could. If I was so sure, I would bet all my account on the short ATM with a stop at 6636.

But real question is does anyone wanna buy it at this level? Do I want to be long GU at 6520 when the USD GDP is just hours away? I think that is too much exposure. SO best will be to either stay out or go short as close as possible to the 6600 resistance. if you lose then you dont lose big.

Quoting Pham
I think GU is not possible to go up to 6635. But lets see.
Its all in the mind.
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