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Cable Update (GBPUSD)

  • #153,861
  • Jul 31, 2009 11:05am Jul 31, 2009 11:05am
I step away for a while and come back and the chart exploded. I am very thankful I was not trading today (being friday), and somewhat sorry I wasn't long.

It looks like I ran out of pivot levels.

I don't know why or what caused this, you guys have some ideas?

I am curious to see what goes on next week.
  • #153,862
  • Jul 31, 2009 11:05am Jul 31, 2009 11:05am
Quoting allserene
I guarantee you less sex if you get married
Thank you for being one of the few sane people on this thread.
  • #153,863
  • Jul 31, 2009 11:05am Jul 31, 2009 11:05am
Same as last month only it actually climbed it's way up there June 30. I'm not gonna say but it did fall over 700 pips from there.
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Ghost Rider - WWTBMD?
  • #153,864
  • Jul 31, 2009 11:06am Jul 31, 2009 11:06am
Dont wonder How

Dont Wonder Why

Just enjoy what GOG is giving us

Lucky today
  • #153,865
  • Jul 31, 2009 11:08am Jul 31, 2009 11:08am
Quoting learntowin
Dont wonder How

Dont Wonder Why

Just enjoy what GOG is giving us

Lucky today
True. No one can explain these moves. And who cares? Trading the charts is easiest with less variables. Prediction kills. Flexibility wins. Don't try to understand, just go with it.
There's always money in the banana stand.
  • #153,866
  • Jul 31, 2009 11:09am Jul 31, 2009 11:09am
Just dont tell me It can Drop as Fast as It shooted

That 's nonsene and unbelievable on Earth
  • #153,867
  • Jul 31, 2009 11:10am Jul 31, 2009 11:10am
Quoting LizardGizzard
True. No one can explain these moves. And who cares? Trading the charts is easiest with less variables. Prediction kills. Flexibility wins. Don't try to understand, just go with it.
true.....
  • #153,868
  • Jul 31, 2009 11:10am Jul 31, 2009 11:10am
Quoting ian52
no new york boy spec on us,i think the reason is london central bank hold for rising gbp even dow hit back 8900 level in this week we also din see any big move for gbp to 6800 level,today is last day of month the buy back gbp b4 gmt 4.30pm(london close)

London just closed and they succeeded to close cable above .67 like June 30... do you think it's falling down right now?! I doubt.... what do you think Gurus?!
  • #153,869
  • Jul 31, 2009 11:14am Jul 31, 2009 11:14am
Quoting reza_oscar
London just closed and they succeeded to close cable above .67 like June 30... do you think it's falling down right now?! I doubt.... what do you think Gurus?!
ah?
London was closed 3-4 hours ago, check your watch
it's just american bull trap
ROBOT FOREX
  • #153,870
  • Jul 31, 2009 11:14am Jul 31, 2009 11:14am
Quoting learntowin
Just dont tell me It can Drop as Fast as It shooted

That 's nonsene and unbelievable on Earth

what planet r u from ???? ever hear of mark up .... what is driving this ??/ US stock markets ripping up ? NO
oil ripping up past 71 NO

i remeber one time GU moved 600 pip up in asia once. I was selling every 100 pip. Others thought i was mad as hell . The top lot made me 2000 pip the bottom one 1500
Blogging daily now at www.volume.zone
  • #153,871
  • Jul 31, 2009 11:15am Jul 31, 2009 11:15am
But guys next week, most of UK news are good numbers..
  • #153,872
  • Jul 31, 2009 11:15am Jul 31, 2009 11:15am
Quoting Bull_Bear
Well done DT and the guys who took the long road.....

A Vouching effort from me mate

Weekend for me.....

Trade Well All
Thankyou bro . Have a great weekend!
  • #153,873
  • Jul 31, 2009 11:16am Jul 31, 2009 11:16am
Quoting LizardGizzard
True. No one can explain these moves. And who cares? Trading the charts is easiest with less variables. Prediction kills. Flexibility wins. Don't try to understand, just go with it.
True and false. All moves on the charts has something or someone accountable for them. As for understanding each and everyone of them (at the time of arrival) is (close to) impossible to decipher.
  • #153,874
  • Jul 31, 2009 11:17am Jul 31, 2009 11:17am
Looks a lot like double top is going to be in place. That should open short pressure for August.. Only a close above 1.6745 would see further upside.

I'm short from here, 1.6705 SL 1.6780, target 1.6400 first
Better safe than sorry
  • #153,875
  • Jul 31, 2009 11:17am Jul 31, 2009 11:17am
Quoting forex888
But guys next week, most of UK news are good numbers..

you know that for a fact ?
Blogging daily now at www.volume.zone
  • #153,876
  • Jul 31, 2009 11:19am Jul 31, 2009 11:19am
Quoting direct-trade
http://www.forexfactory.com/showpost...stcount=153777

TP 1 and TP 2 Hit.

Didnt expect it that quickly, nice way to end the week.
....and hello TP 3

Really didnt expect to see it here at TP 3 today as well... : )
  • #153,877
  • Jul 31, 2009 11:20am Jul 31, 2009 11:20am
In order to complete my 50% weekly ~ 1.7320 as mentioned in an earlier post we should see today close above 1.6666 and Monday close above 1.67 area...Otherwise bounce back ~ 1.6580 where we should beware and wait for the next move...

So no more bear bias for me for GU...and change my mine of next 1.7 area..

Good luck to all and happy weekend .
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  • #153,878
  • Jul 31, 2009 11:21am Jul 31, 2009 11:21am
Quoting Forbes55
ah?
London was closed 3-4 hours ago, check your watch
it's just american bull trap
@Forbes > London and NY overlap by two hours. London closes at 4.30pm BST.

@Malc > Lol, I know what you mean. Everytime BoE has a number that comes out (GDP/minutes/etc) Selling cable has worked [almost] everytime (for more than 50 pips).

Guys I urge you not to sell in the middle of no where without a reason, I know fast markets make you want to get fast pips but it's all about the risk involved.
  • #153,879
  • Jul 31, 2009 11:22am Jul 31, 2009 11:22am
The 30th June and current yearly hi is in view at 6745 area.

(PS re thee why the move up disussion; I would have thought that the reason for the move up was pretty obvious and also London didn't close hours ago re poster above, although equities have bneen closed for a while now and likley forex desks too have wound down to a great extent, lol)

G/L
ex member
  • #153,880
  • Jul 31, 2009 11:23am Jul 31, 2009 11:23am
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