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Cable Update (GBPUSD)

  • #153,461
  • Jul 31, 2009 12:34am Jul 31, 2009 12:34am
Quoting albchr
Not for me. It's a dream about to come true....

I believe we can do it, so lets make the dream come true !!
  • #153,462
  • Jul 31, 2009 12:35am Jul 31, 2009 12:35am
Quoting 2be
Thanks albchr, I am aware of the EW count and ideed Delta count (which is one of my best approches to trading cable) done by some friends of mine, and they expect an upmove, if my short position is taken out I shall reconsider. I have a hard SL, so it will not injure me that much, a bit annoying, but that is trading.

Ghost Rider - WWTBMD?
  • #153,463
  • Jul 31, 2009 12:37am Jul 31, 2009 12:37am
Quoting allserene
Yes I have pruned my share account to 60% -- and 40% cash

Sold a load more today

I am waiting for 8700 on the DOW before I put more in


You're not Alan Day by any chance are you?

Alan Day, UK Hedge Fund took the same position last week, liquidated many stocks and holding in excess of 40% cash...a large percentage for a hedge fund. Waiting to Buy "bargains" when we fall in August/Sept IMHO.
  • #153,464
  • Jul 31, 2009 12:38am Jul 31, 2009 12:38am
Quoting albchr
Dollar is on the rise. Check USD/CHF
Hi all,

That could be bcos SNB are selling Franc tho..
  • #153,465
  • Jul 31, 2009 12:39am Jul 31, 2009 12:39am
Quoting rastapips
I believe we can do it, so lets make the dream come true !!
my hope there will be just luck...
- Always pray on your trading - God know the best for everyone
  • #153,466
  • Jul 31, 2009 12:41am Jul 31, 2009 12:41am
Price has broken it's 4hr descending res t/line to the upside and a current i/day hi of 6570 in a previous 1hr and 4hr swing hi=previous resistance=potential resistance zone.... the pullback from which found suport at the previous 1hr swing hi=previous resistance=potential support (RBS) zone shown in 1hr screenshot below, at which a 15min bullish hammer set-up. I/day hi currently under threat.

U.s Gdp # later may have some detrmination on future direction. market chatter consistently £ negative despite obvious current £ strength, example below:

0717 GMT [Dow Jones] The GBP's resilience will soon ebb away, according to the Forex Focus column by Nicholas Hastings. If disappointment in the UK economy doesn't do the trick then a rally in the USD will. (NEH)

Mni talking about strong offers/stops in the 6585-6600 region.


Contact us in London. +44-20-7842-9464
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ex member
  • #153,467
  • Jul 31, 2009 12:44am Jul 31, 2009 12:44am
Quoting stewrigh
Hi all,

That could be bcos SNB are selling Franc tho..
Hey Stew, Yep...could be.
Ghost Rider - WWTBMD?
  • #153,468
  • Jul 31, 2009 12:47am Jul 31, 2009 12:47am
http://www.forexfactory.com/showpost...stcount=153169

Ref: above post and right shoulder when price was at 16480.

Right shoulder about to be taken out as I write. I expect rise through here to take out stops upto and above 16742.
  • #153,469
  • Jul 31, 2009 12:48am Jul 31, 2009 12:48am
0741 GMT [Dow Jones] GBP/USD is again challenging its 78.6% Fibonacci retracement resistance at 1.6585, says Commerzbank analyst Karen Jones. "We look for this resistance to hold and while below here, our negative bias remains," Jones adds. Notes a break above 1.6585 offers scope for a run-up towards 1.6740/1.6825. GBP/USD currently trades at 1.6560, up from around 1.6493 in NY Thursday. (KJE)

Contact us in London. +44-20-7842-9464
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  • #153,470
  • Jul 31, 2009 12:54am Jul 31, 2009 12:54am
Quoting direct-trade
http://www.forexfactory.com/showpost...stcount=153169

Ref: above post and right shoulder when price was at 16480.

Right shoulder about to be taken out as I write. I expect rise through here to take out stops upto and above 16742.
I've been posting that link DT. Great post. Really think it will get "that" high?
Ghost Rider - WWTBMD?
  • #153,471
  • Jul 31, 2009 12:59am Jul 31, 2009 12:59am
Quoting albchr
I've been posting that link DT. Great post. Really think it will get "that" high?
Hey buddy, she's taken alot of casualties today, including myself. Lets see where the 4h closes and see if there's continued upward momentum. Have to work today so no beers for me yet.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #153,472
  • Jul 31, 2009 12:59am Jul 31, 2009 12:59am
Quoting albchr
I've been posting that link DT. Great post. Really think it will get "that" high?
We may drop slightly from here (16560 area) to find more buyers first, but my charts tell me we will break through. They want the stops above this area IMHO.
  • #153,473
  • Jul 31, 2009 1:02am Jul 31, 2009 1:02am
I may close this thing out, getting tired. If it closes above my pivot-that's the breaks.
  • #153,474
  • Jul 31, 2009 1:02am Jul 31, 2009 1:02am
  •  zykas
  • | Joined Oct 2008 | Status: ... measure thrice, but cut once | 196 Posts
Quite unlike London open hour very slow today and ranging again like yesterday to accommodates more entries. I think a new top might be in offing.. Its been like that past two months.
Attached Image (click to enlarge)
Click to Enlarge Name: end of july.gif Size: 77 KB
I like the Big Dogs because I trade like them
  • #153,475
  • Jul 31, 2009 1:04am Jul 31, 2009 1:04am
Quoting Bull_Bear
Hey buddy, she's taken alot of casualties today, including myself. Lets see where the 4h closes and see if there's continued upward momentum. Have to work today so no beers for me yet.
Yeah my 4H TL just got closed above. Might loose this 6520 short I have. Probably wait a bit to see if it dips for less of a loss. Last hour closed right at 6550....Hmmmmm
Ghost Rider - WWTBMD?
  • #153,476
  • Jul 31, 2009 1:05am Jul 31, 2009 1:05am
Hi

What does IMHO stand for ?
  • #153,477
  • Jul 31, 2009 1:06am Jul 31, 2009 1:06am
Quoting Jennifer1959
Hi

What does IMHO stand for ?
In my humble opinion, not to be confused with IHOP.
  • #153,478
  • Jul 31, 2009 1:07am Jul 31, 2009 1:07am
Quoting Jennifer1959
Hi

What does IMHO stand for ?
In My Honest/Humble Opinion
  • #153,479
  • Jul 31, 2009 1:07am Jul 31, 2009 1:07am
Closed my short. this looks too Strong.
  • #153,480
  • Jul 31, 2009 1:08am Jul 31, 2009 1:08am
There was some discussion yesterday about the 6520 area and that it was strong resistance bcos it had rejected price 3 times...

http://www.forexfactory.com/showpost...stcount=153059

Now I'm not a TA expert but my understand of s/r is that the more times an s/r level is tested the weaker it becomes??

Not saying price won't drop below 6520 but ......
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