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Cable Update (GBPUSD)

  • #158,841
  • Aug 18, 2009 11:11am Aug 18, 2009 11:11am
Time to short it has already moved 250pips up been shorting and adding more short since 1.6530
  • #158,842
  • Aug 18, 2009 11:14am Aug 18, 2009 11:14am
Quoting allserene
Bought etf 'Dog' again

its a DOW short

Dow stalled at +73 9200 level

cable short is holding still

How exciting - its breakfast bagel time here in the desert
smoking bro... here in the Mother City it is raining cats and dogs...traffic slow...going for a few exercise in gym and then sauna time...got ot read an article on greed from Auslanco's thread...

Global - seeing you around. .. wasup bro?

Gotta go - see later
  • #158,843
  • Aug 18, 2009 11:15am Aug 18, 2009 11:15am
Quoting navhin
is there any recommendation currently allserene?
I am short cable but hanging on by my fingernails and there is a high chance it won't work

Its only an attempted scalp anyway - 1.65 ish target

Same with DOW - I am ready for a move either way although I think there is a lot of weakness around . Lowes result yesterday has taken their shares off 11% + They have a good strong balance sheet and i just bought some - sales down 5% not the end of the world in 2009 and the woman on the express checkout is gorgeous and bound to increase sales

Hp result expected tonight

Overall I think the correction has to happen - I would aim at 8700 only - big buyer at that level
  • #158,844
  • Aug 18, 2009 11:16am Aug 18, 2009 11:16am
how high can result GBP / USD, where is the ceiling?
Thanks for the reply.
  • #158,845
  • Aug 18, 2009 11:19am Aug 18, 2009 11:19am
Quoting navhin
what do think of me going short now. is it save to enter short?
lol not so sure that I'm qualified to tell you what to do next but here's my take.

6600 is the line in the sand. Had been so for pretty much of this past couple of months. You just need to pull up a h4 chart to agree.
So depends on your risk tolerance, I think shorting from here with a 100 pips stop is no issue, but like I said it all comes down to what you're willing to risk, if you're not willing or can't afford wider stop just wait till it gets higher.
Personally tho, I'll wait for the usdlfx h4 bounce before I short cable again. That'll probably be tomorrow at the earliest. I'm still dollar bullish unless it closes below the ltl4a. Just waiting for the right setup for now.
Hope that helps.
Attached Image (click to enlarge)
Click to Enlarge Name: gu4.JPG Size: 92 KB
Thank You
  • #158,846
  • Aug 18, 2009 11:20am Aug 18, 2009 11:20am
thx for the info wormboy. it was helpful
  • #158,847
  • Aug 18, 2009 11:21am Aug 18, 2009 11:21am
Quoting I like steak
smoking bro... here in the Mother City it is raining cats and dogs...traffic slow...going for a few exercise in gym and then sauna time...got ot read an article on greed from Auslanco's thread...

Global - seeing you around. .. wasup bro?

Gotta go - see later
cool bro...work that bench press, ye hear...LOL..
Hear the music before the song is over ...
  • #158,848
  • Aug 18, 2009 11:24am Aug 18, 2009 11:24am
Just come back to desk after my earlier trading session.....The 1hr chart below shows the current position in respect of previous obvious near-term imbalances of supply/demand (swing highs) and demand/supply (swing lows,) unbreeched fibs and trend lines on this t/f. ...( it is the confluence of these factors as potential future support/resistance on this and the higher t/f's where the highest probability trading opportunities lie.)

Price has found resistance at the 76.4% of the 6663-6272 swing down and this area is also 38.2% fib of the major 7044-6272 fall as well as Dly R2 pivot.

Price remains in an uptrend to 1hr chart per overall price action - peak/valley analysis although still in a downtrend on 4hr, the current 6570 H still being a potential LH on that 4hr t/f.

G/L

http://i32.tinypic.com/2ld8751.gif

G/L
ex member
  • #158,849
  • Aug 18, 2009 11:26am Aug 18, 2009 11:26am
Quoting navhin
thx for the info wormboy. it was helpful
oi penangite! hola!
drop you a pm later. take care buddy

p/s : grashid from penang too
Thank You
  • #158,850
  • Aug 18, 2009 11:27am Aug 18, 2009 11:27am
Quoting pakitrader
I am student of forex but i will try my best to help u their are lots of people here like bull bear and worm boy DT who are seriour then me and I learnt from them

Add me if u have yahoo or 03333138900 (Irfan) I am from Pakistan.

tc buddy
yup these two guys are working nicely i have learned alot from my seniors at this platform and i must give fully respect to all my seniors here including you nice to have you all....
03002318724
[email protected]
  • #158,851
  • Aug 18, 2009 11:28am Aug 18, 2009 11:28am
u also tc wormboy. i'm thinking to get into sleep and c how market goes tomorrow morning.
  • #158,852
  • Aug 18, 2009 11:29am Aug 18, 2009 11:29am
Quoting elixerripple
yup these two guys are working nicely i have learned alot from my seniors at this platform and i must give fully respect to all my seniors here including you nice to have you all....
03002318724
[email protected]
farooq_586
  • #158,853
  • Aug 18, 2009 11:30am Aug 18, 2009 11:30am
Quoting direct-trade

....I am already short GBP/JPY and USD/JPY from near the highs, so dont feel I need to jump on cable just yet after my cable position was stopped out at BE (TP 1 hit though).

I will not be entering cable around this price (16330) as I think we could see bounce to 16450/80 area later.

When I dont like the Price Action I dont enter. At the moment I don't like the Price Action.
I like the price action today. As I said in the above post, was waiting until we reached mid 164 area. Went long again at 16480, bit late to post it now seeing as we are at 16550, but never mind...been hammering GBP/JPY and USD/JPY today.

Shorts closed on GBP/JPY and USD/JPY earlier, targets on Cable are:

1st 16648
2nd 16747
3rd 16834
4th 16929
5th 17046
6th...open.

Will hold until stopped out at 16382.

Happy trading
  • #158,854
  • Aug 18, 2009 11:33am Aug 18, 2009 11:33am
Quoting wormboy
lol not so sure that I'm qualified to tell you what to do next but here's my take.

6600 is the line in the sand. Had been so for pretty much of this past couple of months. You just need to pull up a h4 chart to agree.
So depends on your risk tolerance, I think shorting from here with a 100 pips stop is no issue, but like I said it all comes down to what you're willing to risk, if you're not willing or can't afford wider stop just wait till it gets higher.
Personally tho, I'll wait for the usdlfx h4 bounce before I short cable again. That'll probably...
check it out wb, DX pulling back up already now @ 79.041, low: 78.937
Hear the music before the song is over ...
  • #158,855
  • Aug 18, 2009 11:37am Aug 18, 2009 11:37am
1000 pips at previus week

This Week for now 300 ...
1300 pips for 7 days ...




Good piping guys....
"Buy on fear, sell on greed !!!
  • #158,856
  • Aug 18, 2009 11:38am Aug 18, 2009 11:38am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Mate, show us your chart analysis......

That's something I love to watch






Quoting direct-trade
I like the price action today. As I said in the above post, was waiting until we reached mid 164 area. Went long again at 16480, bit late to post it now seeing as we are at 16550, but never mind...been hammering GBP/JPY and USD/JPY today.

Shorts closed on GBP/JPY and USD/JPY earlier, targets on Cable are:

1st 16648
2nd 16747
3rd 16834
4th 16929
5th 17046
6th...open.

Will hold until stopped out at 16382.

Happy trading
  • #158,857
  • Aug 18, 2009 11:39am Aug 18, 2009 11:39am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
very good!!

Will you please also tell miserable losers like us before placing your trades so we can recover all the lost money following your path ?






Quoting Petar_Serbia
1000 pips at previus week

This Week for now 300 ...
1300 pips for 7 days ...




Good piping guys....
  • #158,858
  • Aug 18, 2009 11:43am Aug 18, 2009 11:43am
Quoting GlobalMacro
check it out wb, DX pulling back up already now @ 79.041, low: 78.937
I see it brother. the usdlfx is pulling up a bit off support. Problem is, the gbplfx is powering up at the same time. Hope that resistance holds, else this range is gonna take a while to end
Attached Image (click to enlarge)
Click to Enlarge Name: gblfx4.JPG Size: 80 KB
Thank You
  • #158,859
  • Aug 18, 2009 11:43am Aug 18, 2009 11:43am
Quoting Petar_Serbia
1000 pips at previus week

This Week for now 300 ...
1300 pips for 7 days ...




Good piping guys....
You should sell your own system - I will look out for it
  • #158,860
  • Aug 18, 2009 11:44am Aug 18, 2009 11:44am
Quoting ams
very good!!

Will you please also tell miserable losers like us before placing your trades so we can recover all the lost money following your path ?
Now you know why the "happy button" is so helpful. It filters out dirt.
Only a *click* away lol
Thank You
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