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Cable Update (GBPUSD)

  • #155,101
  • Aug 5, 2009 2:02am Aug 5, 2009 2:02am
Quoting albchr
I don't know buddy. I have a few things telling me this might go up today. I'm looking for a long around the 6987ish mark myself. 15M

Sure is wishy washy in this range though...
Yes I agree.
Closed 2/3 of my position not too long ago. Leaving only a portion of smaller risk short on the table.
I don't see long yet however.
Thank You
  • #155,102
  • Aug 5, 2009 2:02am Aug 5, 2009 2:02am
I am just sitting back riding this thing down (yes slowly, painfully in fact). But i entered a short at the second attempt at 1.7 with a very tight stop loss. When price broke 1.66, after that very long range we traded in, where did everyone think it might find resis? 1.7 is the most logical, a big phsyco level. There isnt much selling pressure coming, but the lack of buying pressure is why this is consolidating, while deciding if the pound is worth 1.7 usd. I dont think it is and the us beleive this to be very overbought. Price could push through but i dont think this week, even with good news coming out of england.

just some thoughts.

good trading everyone
  • #155,103
  • Aug 5, 2009 2:06am Aug 5, 2009 2:06am
Quoting nAVIN2007
market is overbought and is now neutralizing to make a further move up most likely..professionall traders (and i mean this with the greatest respect) will be looking for a break in the direction of the trend..that is why when it breaks down seller are very few..IMHO

What we are seeing is called MACD neutralization
Well, if I'm to trust what I'm learning here (and after pulling 345 pips out of yesterdays mess I'm beginning to), I have the 15M, 1H and 4H telling me this thing is gonna go up.

I'm hoping we'll touch 6887ish first but 6900 may be it.
Ghost Rider - WWTBMD?
  • #155,104
  • Aug 5, 2009 2:07am Aug 5, 2009 2:07am
Quoting wormboy
Yes I agree.
Closed 2/3 of my position not too long ago. Leaving only a portion of smaller risk short on the table.
I don't see long yet however.

No, ATM it's clearly unclear...
Ghost Rider - WWTBMD?
  • #155,105
  • Aug 5, 2009 2:11am Aug 5, 2009 2:11am
Quoting albchr
No, ATM it's clearly unclear...
play the breakout..but make sure PA support the decision..
Attached Image (click to enlarge)
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  • #155,106
  • Aug 5, 2009 2:11am Aug 5, 2009 2:11am
Quoting Yngwie
Hi guys,

No clear configuration to take any swing position now. Only small scalps [email protected] [email protected] [email protected] (28pips).
Close position. Thanks Malcomb. That's a wrong SL.. suppose 6960.

Quoting Yngwie

My view on GU today,

Its likely to go up 1.7 as predicted yesterday. Price like to play at 50% fib lines.. that's a good support. Maybe it may go down first around 1.6900.. better wait down first and then buy.

Happy trading!
Look like GU still in the bullish mode. Votality low now. Price should find a support around 6880/90 area. Pending [email protected] [email protected] [email protected]

p/s: Pips not including spread!!
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #155,107
  • Aug 5, 2009 2:18am Aug 5, 2009 2:18am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
What's the difference between SS and normal bollinger bands with pivots?




Quoting Nene
I have a system I use that I can not talk about in here. Below is what it looks like with the signal arrows.

Ne
  • #155,108
  • Aug 5, 2009 2:19am Aug 5, 2009 2:19am
I think if the data is good at 9:30am UK time I would expect cable to go above 1.7 mark if only for a short time. I've opened my long position based on this. Equally so if data is bad I could make a fair loss as I would expect it to go to around 1.687 mark.
  • #155,109
  • Aug 5, 2009 2:22am Aug 5, 2009 2:22am
Range Forecast
1.6880-1.7100

Buy at 1.6925 limit at 1.7000 stop at 1.6870
Resistance/Support

R:1.6954/1.7000/1.7418/1.7500
1.6880/1.6818/1.6740/1.6680


Good Luck & Trade Well !
  • #155,110
  • Aug 5, 2009 2:29am Aug 5, 2009 2:29am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Mal,

It could also be they plan to short usd massively in the near future to bring the markets UP, AND very imp, sell treasury bonds!!

When sold, they will push USD higher and higher for a good ROI for chinese :-)




Quoting malcolmb14
something going on

usd telling their embassies to get rid of usd cash and go to local currencies by September. .. this on main stream news ... I say trap.

doallr index shows there may be some buying ...

Attachment
  • #155,111
  • Aug 5, 2009 2:43am Aug 5, 2009 2:43am
Quoting Yngwie

Look like GU still in the bullish mode. Votality low now. Price should find a support around 6880/90 area. Pending [email protected] [email protected] [email protected]

p/s: Pips not including spread!!

[email protected] [email protected] [email protected]
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #155,112
  • Aug 5, 2009 2:44am Aug 5, 2009 2:44am
Quoting nAVIN2007
play the breakout..but make sure PA support the decision..

LOL, I'd love to assuming it ever does. For now I'll just wallow around in the muck digging for pips....
Ghost Rider - WWTBMD?
  • #155,113
  • Aug 5, 2009 3:04am Aug 5, 2009 3:04am
Quoting malcolmb14
stay out till london .. insurers had bad earnings uk and france

could drop markets
Mal,

Which company insurers in UK is that?
Any news for this one?
  • #155,114
  • Aug 5, 2009 3:05am Aug 5, 2009 3:05am
Quoting albchr
LOL, I'd love to assuming it ever does. For now I'll just wallow around in the muck digging for pips....
i hear yah ..definately been different august so far..gone from moving to standing still...LOL
  • #155,115
  • Aug 5, 2009 3:07am Aug 5, 2009 3:07am
LOL.. that 6932 Resistance is tough. It gets slapped back hard there for now.
Ghost Rider - WWTBMD?
  • #155,116
  • Aug 5, 2009 3:12am Aug 5, 2009 3:12am
that's 61.8 5 for today friend.... lets see in 19 min... sounds like go to north....
happy trading day....
  • #155,117
  • Aug 5, 2009 3:14am Aug 5, 2009 3:14am
come on guys, someone pls tell me BUY or SELL cos the resistance seems pretty strong!
  • #155,118
  • Aug 5, 2009 3:17am Aug 5, 2009 3:17am
Quoting kenasmic
come on guys, someone pls tell me BUY or SELL cos the resistance seems pretty strong!
Take it easy mate. Wait till the news comes out at 9:30am. Until then go and have a coffee and a cake. Rushing in is what will kill your account.
You've got to be IN IT to WIN IT!
  • #155,119
  • Aug 5, 2009 3:17am Aug 5, 2009 3:17am
Quoting albchr
LOL.. that 6932 Resistance is tough. It gets slapped back hard there for now.
Finally she breaks through. Next hiccup, 6954 (if it gets there...lol)

Of course this could just be reaction to upcoming news too.
Ghost Rider - WWTBMD?
  • #155,120
  • Aug 5, 2009 3:18am Aug 5, 2009 3:18am
buy) north! ............)
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