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Cable Update (GBPUSD)

  • #157,701
  • Aug 13, 2009 8:59am Aug 13, 2009 8:59am
Quoting grashid
cool.. just show your bank statement acc to keep every body pmouth shut as what i did here in my std acc....mm..nt really much but ~10% from Mal profit atm not that really big amount
Good! DO you use GU?
  • #157,702
  • Aug 13, 2009 8:59am Aug 13, 2009 8:59am
thanx man, do you think it'll break it eventually or should I close my shorts?
  • #157,703
  • Aug 13, 2009 8:59am Aug 13, 2009 8:59am
Quoting malcolmb14
you are going to be stopped out .....

1.6600 was major resistance on charts ...that was sell zone.

I think es closes under 1000 today could be bearish

the news today out of us bearish and on dollar index the move down yesterday was on low volume . I still expect 1.6000 by end august and 1.5000 and lower into novemeber
Malc NY closes below 1.6550, we may well see 1.6400 again buddy.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #157,704
  • Aug 13, 2009 9:00am Aug 13, 2009 9:00am
Quote
I still expect 1.6000 by end august and 1.5000 and lower into novemeber

Thanks for reminding us Mal!
Holding GU Short swing trade
  • #157,705
  • Aug 13, 2009 9:01am Aug 13, 2009 9:01am
Quoting wormboy
hi skerdi, 6685 level could provide some resistant from what I have, 6600 support.

eerrmm we're on .65ish now buddy
  • #157,706
  • Aug 13, 2009 9:02am Aug 13, 2009 9:02am
Quoting RichLadyFX
Somebody told me:

Bad news to ECONOMY = Good news to CURRENCY.

And vice versa.

Not logical right?

well it works like this

bad retail and unemployment numbers means companies suffering ... so money is moved out of the stock market and it goes down

that money has to go somewhere as the money folks love their money to be working for them 100 % of the time , so often it is moved into bonds. Now that feds are stopping the bond buying program in October the long term yields may go and usd gets strogner ...

make sense now ?

gj 18 ip off target ,. If 157.60 gives way then we will see yesterday lows at 156 , there is one high volume pivot 157 and then 156
Blogging daily now at www.volume.zone
  • #157,707
  • Aug 13, 2009 9:04am Aug 13, 2009 9:04am
Quoting skerdi-meta
eerrmm we're on .65ish now buddy
yup. I need price to close below 6600 cleanly before shorting tho.
Thank You
  • #157,708
  • Aug 13, 2009 9:04am Aug 13, 2009 9:04am
Quoting Bull_Bear
Malc NY closes below 1.6550, we may well see 1.6400 again buddy.


seems ES bouncing off 1000 ....

might get a little bounce here gu
Blogging daily now at www.volume.zone
  • #157,709
  • Aug 13, 2009 9:06am Aug 13, 2009 9:06am
very clear top 1.6600

Attached Image (click to enlarge)
Click to Enlarge Name: chart245.png Size: 157 KB
Blogging daily now at www.volume.zone
  • #157,710
  • Aug 13, 2009 9:07am Aug 13, 2009 9:07am
Quoting malcolmb14

gj 18 ip off target ,. If 157.60 gives way then we will see yesterday lows at 156 , there is one high volume pivot 157 and then 156
mal, great call on the 157.
Thank You
  • #157,711
  • Aug 13, 2009 9:08am Aug 13, 2009 9:08am
Quoting skerdi-meta
thanx man, do you think it'll break it eventually or should I close my shorts?
if Gu hold below 1.66 a test @ 1.654 and close below it...bear continue tomorow i believe..same chart this am and only different candelistic position....Good luck
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  • #157,712
  • Aug 13, 2009 9:08am Aug 13, 2009 9:08am
Quoting malcolmb14
seems ES bouncing off 1000 ....

might get a little bounce here gu
I expected that level to bounce, Its my level to determine short continuation to 1.6400 and beyond.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #157,713
  • Aug 13, 2009 9:09am Aug 13, 2009 9:09am
Quoting grashid
if Gu hold below 1.66 a test @ 1.654 and close below it...bear continue tomorow....Good luck
Grass Man we have exactly the same thinking
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #157,714
  • Aug 13, 2009 9:12am Aug 13, 2009 9:12am
How about this guys:

The higher of the two uptrend lines already acted as resistance at $1.6563 Wednesday and is likely to do so again Thursday or Friday. Further up, resistance is found around Friday's $1.6650 low and at $1.6716, the halfway point of last week's drop. Any advance above this level seems, at this stage at least, not very probable, and if so would probably be capped by the 61.8% Fibonacci retracement of the recent decline at $1.6793.
Daily oscillators such as the Relative Strength Index and the Slow Stochastics continue to decline and reinforce the bearish outlook on sterling.
Medium-term downside targets are seen at Thursday's $1.6475 low, the April-to-August uptrend line, currently at $1.6393, and at Wednesday's $1.6390 low point.
I am back. Actually, I never left...
  • #157,715
  • Aug 13, 2009 9:18am Aug 13, 2009 9:18am
Quoting taragula
How about this guys:

The higher of the two uptrend lines already acted as resistance at $1.6563 Wednesday and is likely to do so again Thursday or Friday. Further up, resistance is found around Friday's $1.6650 low and at $1.6716, the halfway point of last week's drop. Any advance above this level seems, at this stage at least, not very probable, and if so would probably be capped by the 61.8% Fibonacci retracement of the recent decline at $1.6793.
Daily oscillators such as the Relative Strength Index and the Slow Stochastics continue to decline...
AND:
A fall through this level and the four month uptrend line would be bearish indeed with the July 17 $1.6263 low then being in focus. The mid-June $1.6188 low would then also be targeted in such a scenario.
I am back. Actually, I never left...
  • #157,716
  • Aug 13, 2009 9:19am Aug 13, 2009 9:19am
Quoting PavelRus
Good! DO you use GU?
if i saw i can make her with more than 50pips.....
  • #157,717
  • Aug 13, 2009 9:19am Aug 13, 2009 9:19am
Quoting malcolmb14
well it works like this

bad retail and unemployment numbers means companies suffering ... so money is moved out of the stock market and it goes down

that money has to go somewhere as the money folks love their money to be working for them 100 % of the time , so often it is moved into bonds. Now that feds are stopping the bond buying program in October the long term yields may go and usd gets strogner ...

make sense now ?

gj 18 ip off target ,. If 157.60 gives way then we will see yesterday lows at 156 , there is one high volume pivot 157 and...
Thanks Malcomb. I'll read n read n reaad again to fully comprehend this.
Great Bodies are Engineered not Born
  • #157,718
  • Aug 13, 2009 9:19am Aug 13, 2009 9:19am
Quoting malcolmb14
well it works like this

bad retail and unemployment numbers means companies suffering ... so money is moved out of the stock market and it goes down

that money has to go somewhere as the money folks love their money to be working for them 100 % of the time , so often it is moved into bonds. Now that feds are stopping the bond buying program in October the long term yields may go and usd gets strogner ...

make sense now ?

gj 18 ip off target ,. If 157.60 gives way then we will see yesterday lows at 156 , there is one high volume pivot 157 and...
This is the logicall explanation I was looking for!! Thanks for the light on this issue!!!! Lol!!!
  • #157,719
  • Aug 13, 2009 9:19am Aug 13, 2009 9:19am
Quoting liquidmoment
Here's what I see , Possible breakout of lower channel in process.

Long @ 1.66069

Take Profit 1 @ 1.67117

Take profit 2 @ 1.68091

S/L 1.65597

May all your pips be
Stopped out - 47, It's the defeats that make victory all the more sweeter.

The PA was telling me that something didn't smell right. I should have put my SL to BE when the market moved 20 pips in my favour.

I'll need to remember that,If it smells like turd and looks like turd, then is usually turns out to be turd in the end .
  • #157,720
  • Aug 13, 2009 9:22am Aug 13, 2009 9:22am
Quoting malcolmb14
you are going to be stopped out .....

1.6600 was major resistance on charts ...that was sell zone.

I think es closes under 1000 today could be bearish

the news today out of us bearish and on dollar index the move down yesterday was on low volume . I still expect 1.6000 by end august and 1.5000 and lower into novemeber
I had a target 1.68. Bad news bring bear. I'd already move from the morning SL to catch 10 pips per contract. Now i'm out and waiting confirmation for bear or stabilization of the market after head and shoulders.
If you resist at heart attack, you will be rich from trading.
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