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Cable Update (GBPUSD)

  • #165,581
  • Sep 15, 2009 4:57am Sep 15, 2009 4:57am
Quoting GlobalMacro
Alright...looking good...this retracement is what I've been waiting for...
I'm buying here @ 1.6500 .
You have BIG Balls Bro..... GBP falling across the board is a telling picture.
I see 1.6490 as on the first minor support only.

I read something about twisted balls lol.... hopefully you won't need to untangle yours lol
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #165,582
  • Sep 15, 2009 4:59am Sep 15, 2009 4:59am
Quoting Bones
em its a break,lol
I still think its bullish tho ,(joke)
My arrow is going to lonely
I guess she just gave you your answer bones.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #165,583
  • Sep 15, 2009 4:59am Sep 15, 2009 4:59am
Quoting nAVIN2007
no many just ema's this time
lol I knew it!
Thank You
  • #165,584
  • Sep 15, 2009 4:59am Sep 15, 2009 4:59am
Quoting Bones
em its a break,lol
I still think its bullish tho ,(joke)
My arrow is going to lonely
I'm buying too!!
  • #165,585
  • Sep 15, 2009 5:00am Sep 15, 2009 5:00am
i thought gbp underperformance to the usd was a reason to buy it....but its perpetual fundamental weakness is a clear sign of a short!

what would be a current 'good' level to short gbpusd and gbpjpy?
  • #165,586
  • Sep 15, 2009 5:01am Sep 15, 2009 5:01am
Quoting GlobalMacro
Alright...looking good...this retracement is what I've been waiting for...
I'm buying here @ 1.6500 .
...right there with ya GM. First long at 6504. Will add more as appropriate.
Ghost Rider - WWTBMD?
  • #165,587
  • Sep 15, 2009 5:01am Sep 15, 2009 5:01am
6565 is immediate resistance now. Close above that & we prolly will range again. Guess GM's gunning for that?
Thank You
  • #165,588
  • Sep 15, 2009 5:01am Sep 15, 2009 5:01am
Quoting Bull_Bear
You have BIG Balls Bro..... GBP falling across the board is a telling picture.
I see 1.6490 as on the first minor support only.

I read something about twisted balls lol.... hopefully you won't need to untangle yours lol

i have 1.6350 as a target for this mofo b4 thinking about long....but its in consolidation ..trend is down as well...if it breaks down that would be interesting
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  • #165,589
  • Sep 15, 2009 5:03am Sep 15, 2009 5:03am
Well some have been selling even when its rising ..
but actual trend this year has been up.
recent few months sideways.
could be setting up for drop.then the bears have won ,but only then.
break the range confirms
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #165,590
  • Sep 15, 2009 5:03am Sep 15, 2009 5:03am
Intraday tone turns bearish on back of £ selling on King's comments....Mthly Pivot is at 6493 area and below here there is both a previous swing hi and lo zone co-existant on 1hr and 4hr...the prev sw lo 6485-51, the prev sw lhi zone 6440-24 with the 50% of 6111-6740 rise in there @ 6724 area, 6419 being 76.4% of higher 6320-6740 rise.

G/L
ex member
  • #165,591
  • Sep 15, 2009 5:04am Sep 15, 2009 5:04am
Quoting albchr
...right there with ya GM. First long at 6504. Will add more as appropriate.

rememeber bro..on 4hr chart we got a big dirty BEOB..if that aint a sell signal i dont know what is..be carefull man!
  • #165,592
  • Sep 15, 2009 5:05am Sep 15, 2009 5:05am
Quoting nAVIN2007
i have 1.6350 as a target for this mofo b4 thinking about long....but its in consolidation ..trend is down as well...if it breaks down that would be interesting
Bang on Nav... This mornings post

http://www.forexfactory.com/showpost...stcount=165442
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #165,593
  • Sep 15, 2009 5:06am Sep 15, 2009 5:06am
I shorted cable at 61% fib bounce off, thew news spike was crazy but it worked out for good
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Never Trade without a defined risk, never, never, never.
  • #165,594
  • Sep 15, 2009 5:08am Sep 15, 2009 5:08am
Quoting albchr
...right there with ya GM. First long at 6504. Will add more as appropriate.
good one buddy, now all we have to do is hold tight and enjoy the ride
Hear the music before the song is over ...
  • #165,595
  • Sep 15, 2009 5:09am Sep 15, 2009 5:09am
Quoting Bones
Well some have been selling even when its rising ..
but actual trend this year has been up.
recent few months sideways.
could be setting up for drop.then the bears have won ,but only then.
break the range confirms
yes thats true but i mean the movement up i see as a retracement..i think it retrace around 50% of the overall down move, its at a place where continued up movement would suggest a trend reveral and i dont know if we are there yet

we approaching winter now....this is the time the sh*t normally hits the fan ..the question is do u believe we have done enough to witness a trend change?..
  • #165,596
  • Sep 15, 2009 5:10am Sep 15, 2009 5:10am
Quoting Bull_Bear
Bang on Nav... This mornings post

http://www.forexfactory.com/showpost...stcount=165442

  • #165,597
  • Sep 15, 2009 5:11am Sep 15, 2009 5:11am
Quoting Bull_Bear
You have BIG Balls Bro..... GBP falling across the board is a telling picture.
I see 1.6490 as on the first minor support only.

I read something about twisted balls lol.... hopefully you won't need to untangle yours lol
Not all my friend, in fact I beg to differ...
this is the best place for longs and believe it or not worst place for shorts...
Hear the music before the song is over ...
  • #165,598
  • Sep 15, 2009 5:11am Sep 15, 2009 5:11am
Good day to you all,

Helps to stick to a plan. I again post my chart with updates. These are numbered on the chart:

1) The Parallel Trendline for average closes on the 1hr chart for the week, indicated yesterday as my guide, was in play until this morning.
2) Also indicated that the 1.6668 level will be my signal that market is back to bullish.

Price, however, this morning started to follow the Parallel Trendline for the day as per the hour closes, to the upside. But since it could not break Friday's close purposefully @ 1.6649, I kept my short.

3) A touch again on my guide line 2 to 3 hrs ago, and I knew a strong possibility existed that we may still come to retest yesterdays lows.

4) Expected target to reach now 1.6492 ( ok - I see it did whilst posting)

1.6520 will now act as resistance to the upside. Above that, the 1.6531 level will be an even stronger resistance in my opinion ( the 50% line of last week)

General note - I bought yesterday at a terrible level and only managed +40 on this whole trip. The market has learned me a lesson that patience is a true virtue in this business.

I am grateful that this one worked...

To the downside, should the 1.6520 to 1.6531 level hold price down, our target will be 1.6426 ( 50% line of the month range) -if this breaks with purpose, we may see 1.6390.

A purposeful break of 1.6531 will have me target 1.6587 again.

Apologies for the long post.

Good trading to all - wish you success

Regards
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  • #165,599
  • Sep 15, 2009 5:12am Sep 15, 2009 5:12am
Quoting nAVIN2007
i have 1.6350 as a target for this mofo b4 thinking about long....but its in consolidation ..trend is down as well...if it breaks down that would be interesting
Same chart different day bro.
Currently price stopped dead at the ltl. Close below that & I think 6350 is too modest. On top of that wedge on the other chart, this one looks a lot like a diamond no? We know what happens on diamond breaks
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Thank You
  • #165,600
  • Sep 15, 2009 5:14am Sep 15, 2009 5:14am
Quoting nAVIN2007
rememeber bro..on 4hr chart we got a big dirty BEOB..if that aint a sell signal i dont know what is..be carefull man!
I hear ya Nav. My 4H closes in 2 hours. I'm still of the mind that this dog will continue to range as it has been for months....LOL

Missed my short for the range due to my nasty smoking habit...
Ghost Rider - WWTBMD?
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