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Cable Update (GBPUSD)

  • #165,401
  • Sep 14, 2009 10:48am Sep 14, 2009 10:48am
Quoting Bones
Its mighty bearish in here for sure ,lol but thats fine everyone posts there opinion thats great I get a lot form others ideas.Not looking to challenge at all.Trading is better than ever GM how about you certainly missed your insite...recently
I had to take the week off....not doing anything atm, just getting warmed up....

the ~220 pips drop from friday's high was certainly abrupt...that's probably why the mkt's resolve is being tested right now...
Hear the music before the song is over ...
  • #165,402
  • Sep 14, 2009 10:50am Sep 14, 2009 10:50am
Good day to you,

1) For the interim, the parallel line was respected. Added to my short there to get a better average price.

2) Would be good if price can close below the weekly 50% line. This will give me a bit more confidence that we may re-test the lows later on.

Wish you all success
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  • #165,403
  • Sep 14, 2009 10:53am Sep 14, 2009 10:53am
Add long GU, 1.6591
Add Long GJ, 150.75
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #165,404
  • Sep 14, 2009 11:15am Sep 14, 2009 11:15am
Looking to add 1 more long @ 1.6571, seems to be the line in the sand on the 5M, TP, 1.6652.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #165,405
  • Sep 14, 2009 11:21am Sep 14, 2009 11:21am
Quoting Magix
Looking to add 1 more long @ 1.6571, seems to be the line in the sand on the 5M, TP, 1.6652.
where are u putting your stop loss....?
just curious
  • #165,406
  • Sep 14, 2009 11:23am Sep 14, 2009 11:23am
hi all still have the same direction north
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  • #165,407
  • Sep 14, 2009 11:45am Sep 14, 2009 11:45am
after a slightly chilly swim I'm well "untwisted" http://www.forexfactory.com/images/icons/icon11.gif and out of my last long and have even taken a short off the second failure at the 50% fibo / S1 / 6625 confluence....NY lunchtime and my sundowners time so I'm finished for the day....as I said earlier, I view the action in the dollar -aka Swissy - as the key to the next move and as has been posted a few moments ago, the dollar has the potential to bounce off the retest of its lows which will help cable's bears - also IMO the 15 min chart is bearish - VSAwise....TWT
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Trading Levels with WRBs
  • #165,408
  • Sep 14, 2009 11:49am Sep 14, 2009 11:49am
Quoting nAVIN2007
where are u putting your stop loss....?
just curious
Not using one....

Market on GU has read and played fairly well over the last couple of weeks for me, though I hadn't grabbed every pip possible, I have been more than happy with my results. I am still forecasting a lot more ceiling than depths of the basement, so will continue to play to what the charts tell me.

If I be wrong, and she swings heavily against me, will adjust accordingly.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #165,409
  • Sep 14, 2009 11:55am Sep 14, 2009 11:55am
dive dive dive
  • #165,410
  • Sep 14, 2009 11:57am Sep 14, 2009 11:57am
And...My final add for long...@ 1.6576. Matched it with one more for the Dragon, still holding for that GAP FILL!

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #165,411
  • Sep 14, 2009 11:59am Sep 14, 2009 11:59am
i had enough of gbplfx the thing is a fruitcake....im short..
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  • #165,412
  • Sep 14, 2009 12:07pm Sep 14, 2009 12:07pm
Quoting Magix
Not using one....

Market on GU has read and played fairly well over the last couple of weeks for me, though I hadn't grabbed every pip possible, I have been more than happy with my results. I am still forecasting a lot more ceiling than depths of the basement, so will continue to play to what the charts tell me.

If I be wrong, and she swings heavily against me, will adjust accordingly.

in this market cause of the ping pong that can work quite well...but u need to know when it gone to far.....goodluck bro! ..
  • #165,413
  • Sep 14, 2009 12:13pm Sep 14, 2009 12:13pm
Quoting nAVIN2007
i had enough of gbplfx the thing is a fruitcake....im short..
I agree and I'm sick of watching it go nowhere....

I'm still holding that 6594 short but don't hold much faith in it at this point. Still think this thing could snap either way.

Anyway, have a great day folks. I need to get some rest after yesterday's annual MS benefit run our Harley chapter did.

Trade safe....
Ghost Rider - WWTBMD?
  • #165,414
  • Sep 14, 2009 12:17pm Sep 14, 2009 12:17pm
lol ,I know what you mean , no close over 50% ,could still be bullish ,wicks to north at bottom bullish,petrifying harami.
H4 trend is down,break low not so good for bulls ,ie me

Quoting nAVIN2007
i had enough of gbplfx the thing is a fruitcake....im short..
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #165,415
  • Sep 14, 2009 12:19pm Sep 14, 2009 12:19pm
3 mins to lift off!

I hope....

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #165,416
  • Sep 14, 2009 12:20pm Sep 14, 2009 12:20pm
Quoting albchr
I agree and I'm sick of watching it go nowhere....

I'm still holding that 6594 short but don't hold much faith in it at this point. Still think this thing could snap either way.

Anyway, have a great day folks. I need to get some rest after yesterday's annual MS benefit run our Harley chapter did.

Trade safe....
its crazy bro...my chart says its it all.. u got a good price thou bro! ..i think its good
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  • #165,417
  • Sep 14, 2009 12:22pm Sep 14, 2009 12:22pm
Quoting Bones
lol ,I know what you mean , no close over 50% ,could still be bullish ,wicks to north at bottom bullish,petrifying harami.
H4 trend is down,break low not so good for bulls ,ie me
i tried i went long, got it ....i had enough ...
  • #165,418
  • Sep 14, 2009 12:26pm Sep 14, 2009 12:26pm
Quoting Bones
,petrifying harami.

  • #165,419
  • Sep 14, 2009 12:28pm Sep 14, 2009 12:28pm
no really thats what it is,

I see the potential for usdchf double bottom but right now im thinking lower

Quoting nAVIN2007
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #165,420
  • Sep 14, 2009 12:31pm Sep 14, 2009 12:31pm
I love watching the 4H candle. It's like watching paint dry.

Looks like it's shaping for the next leg down, perhaps to 1.6510/20 area. I get the feeling it wants to pause before tomorrows UK CPI data.

The news could swing Cable both ways before we know which way it is going.

Daily trend is down, so for now I am Bearish. However, break and close above 1.6740 may push higher.

G/L
None the wiser!
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