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Cable Update (GBPUSD)

  • #163,961
  • Sep 7, 2009 11:41am Sep 7, 2009 11:41am
Quoting Eduardo
So you don't think daily s1 or the weekly pivot will stop it?
Have no idea my friend. If she not retrance at 1.6320.. she may go down again..
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #163,962
  • Sep 7, 2009 11:44am Sep 7, 2009 11:44am
Quoting nAVIN2007
this is nuts it like now someone is selling the pound...dollar is at stand still???? what the hell is happening
Hi Navin,

There are rumours doing the rounds that, in a bid to stimulate credit to the wider economy, the BOE is going to introduce negative interest rates for reserves that commercial banks hold with them. The amount of reserves held with the BOE has increased by £100bn since the start of QE in March, as banks are either hoarding cash or keeping credit at expensive levels, relative to the level of the Bank Rate.

Cheers, Paul
  • #163,963
  • Sep 7, 2009 11:51am Sep 7, 2009 11:51am
Quoting Yngwie
Have no idea my friend. If she not retrance at 1.6320.. she may go down again..
Well daily s2 is at 1.6237 so I think that's a reasonable target over night with a 50 pip trailing stop loss just in case.
  • #163,964
  • Sep 7, 2009 11:52am Sep 7, 2009 11:52am
When i pick place for short i do it nice.Still short.waiting for 4 hr oversold condition foe some buy maybe.see ya
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  • #163,965
  • Sep 7, 2009 11:56am Sep 7, 2009 11:56am
We still need to test the daily 100 SMA? We should see a strong reaction there? I ask as a question as I am a newbie...at the moment I would not expect to see a serious test until London session tomorrow...if this bearish drive lasts...

Quoting Eduardo
Well daily s2 is at 1.6237 so I think that's a reasonable target over night with a 50 pip trailing stop loss just in case.
Hope is not a trading strategy
  • #163,966
  • Sep 7, 2009 11:59am Sep 7, 2009 11:59am
Quoting Sinan
We still need to test the daily 100 SMA? We should see a strong reaction there? I ask as a question as I am a newbie...at the moment I would not expect to see a serious test until London session tomorrow...if this bearish drive lasts...
Well maybe but that would trigger my tp on the way down so I won't lose any sleep.
  • #163,967
  • Sep 7, 2009 12:10pm Sep 7, 2009 12:10pm
Quoting Eduardo
Well daily s2 is at 1.6237 so I think that's a reasonable target over night with a 50 pip trailing stop loss just in case.
Good luck my friend. Profit locked and i'm going to sleep.

Cheers!
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #163,968
  • Sep 7, 2009 12:13pm Sep 7, 2009 12:13pm
Quoting TauTrader
Good day to you all,

Some charts to consider. I am studying, so comments welcome. Short from 1.6383. Hope to reach 0.382 Fib. Will keep an eye on price to see if we may move down further.

Any critics welcome to show me things I have missed.

Highest regards
good job....!
  • #163,969
  • Sep 7, 2009 1:00pm Sep 7, 2009 1:00pm
Quoting nAVIN2007
look at the higher time frame.....support and resistance easily....trendlines are very subjective....of the higher u get precision
Not always the higher time frame can get you the right picture in a timely manner. If I didn't look at a timeframe lower than a H4 chart, I would have missed a double top on a M15 with the first top coming after an overextended move.
3 bars after the second top the channel is broken on the downside with all the indicators pointing down.
Sitting at the H4 support for the last hour unable to work the "digestion" on a retracement to a least the M15 resistance. It is digesting the downmove "on time" rather than "on retracement". Doesn't look too good . Waiting to see if it can form a base and get up to the the H4 resistance (blue line) to short it.
First time long term trend detector pointing down on H1 since Sept 2nd.
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  • #163,970
  • Edited 2:44pm Sep 7, 2009 1:47pm | Edited 2:44pm
This is like watching paint dry, as another user said!

I have recovered loss and waiting for .6300 hoping to beak current support line.

Thank you guys for posting all these charts, there is so much to learn here!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #163,971
  • Sep 7, 2009 3:21pm Sep 7, 2009 3:21pm
wow-so bord think i will try a short here
  • #163,972
  • Sep 7, 2009 3:23pm Sep 7, 2009 3:23pm
Quoting direct-trade
http://www.forexfactory.com/showpost.php?p=3022026&postcount=163334
http://www.forexfactory.com/showpost.php?p=3023466&postcount=163480
http://www.forexfactory.com/showpost.php?p=3021987&postcount=194294
[font=Calibri][size=3]Holding...
Cable TP 3 at 16440 hit, +278, holding remaining longs for remaining targets here:

http://www.forexfactory.com/showpost...stcount=161658


GBP/JPY longs held from 15119, loaded further longs at 15177 lower trendline bounce area (shown on chart).

GBP/USD longs held from 16162, loaded further longs at 16338 LTL bounce area. (shown on chart)

USD/JPY holding from 9256, expecting further upside, but waiting to see if better entry price presents itself (shown on chart)

Not too phased about today's PA seeing as no-one is actually trading with heavy volume.

Happy trading and see you all tomorrow LDN
Attached Image(s) (click to enlarge)
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  • #163,973
  • Sep 7, 2009 3:24pm Sep 7, 2009 3:24pm
Quoting XTrade
This is like watching paint dry, as another user said!

I have recovered loss and waiting for .6300 hoping to beak current support line.

Thank you guys for posting all these charts, there is so much to learn here!

Look at the first 1M chart I posted and see where the first wave stopped. I expect to see a retracement at least at the 5M support line (green) and then another upwave. I may be wrong....of course!!
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  • #163,974
  • Sep 7, 2009 3:33pm Sep 7, 2009 3:33pm
Quoting alexpio
Look at the first 1M chart I posted and see where the first wave stopped. I expect to see a retracement at least at the 5M support line (green) and then another upwave. I may be wrong....of course!!
Thanks! I was looking at your charts on the last page I believe,
I will look again, now. I had a short from Friday, bought / 2 xtra contracts for better rate last night & was able to liquidate entire position w/ gain.

Hoping for minor retracement. Then, I may reconsider position. Will be interesting to see how the Aussie open affects us here!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #163,975
  • Sep 7, 2009 4:43pm Sep 7, 2009 4:43pm
Sold @ 1.6437.... SL 1.6480... TP 1.6220

See you guys at the London session
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Veni, Vidi, Vici (We came, we saw, we conquered)
  • #163,976
  • Sep 7, 2009 5:23pm Sep 7, 2009 5:23pm
1,6402 - 1,6419 - 1,646 - 1,6504 - 1,6535

1,6348

1,6249 - 1,6205 - 1,6178 - 1,6148 - 1,6098

support resistance
  • #163,977
  • Edited Sep 8, 2009 12:07am Sep 7, 2009 11:57pm | Edited Sep 8, 2009 12:07am
i was closed my short position and now i am in a long position
can i know your idea anout my analysis
Attached Image (click to enlarge)
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  • #163,978
  • Sep 8, 2009 12:32am Sep 8, 2009 12:32am
Thank You
  • #163,979
  • Sep 8, 2009 12:40am Sep 8, 2009 12:40am
hoping the cable to reach around 1.6450 region
  • #163,980
  • Sep 8, 2009 12:43am Sep 8, 2009 12:43am
hi anybody have opinion for today GBPUSD trade?
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