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Cable Update (GBPUSD)

  • #166,361
  • Sep 16, 2009 1:32pm Sep 16, 2009 1:32pm
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
DT dow is now just 200 points ghy from 10000. When it reaches that we will see big jump in USD for whatever reason news, IR , dow retracing etc etc...

Until then I think we will be in this 200 pip range.
EU heading for 483xxx then 151. Who the hell knows what here.

Don't know why pound isn't rising yet. After all it was just a voice from king nothing concrete yet.



Quoting direct-trade
They could all be wrong and we just rise from here.

What do you see on your charts?
  • #166,362
  • Sep 16, 2009 1:34pm Sep 16, 2009 1:34pm
Quoting nAVIN2007
DT this worries me a bit....
Once we clear the area shaded in blue on the chart we should move quickly. We have been testing the bottom, buy orders piled in due to double bottom and pushed us up a little, but I think we fall heavily before Friday. This rise could be a sucker move, or I could be the sucker holding short. Time will tell.
Attached Image (click to enlarge)
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  • #166,363
  • Sep 16, 2009 1:37pm Sep 16, 2009 1:37pm
Quoting ams
DT dow is now just 200 points ghy from 10000. When it reaches that we will see big jump in USD for whatever reason news, IR , dow retracing etc etc...

Until then I think we will be in this 200 pip range.
EU heading for 483xxx then 151. Who the hell knows what here.

Don't know why pound isn't rising yet. After all it was just a voice from king nothing concrete yet.
I think Dollar bulls will return by Friday, the 10000 should provide a nice bounce and send us lower, but of course, in this market anything might happen.
  • #166,364
  • Sep 16, 2009 1:37pm Sep 16, 2009 1:37pm
Quoting ams
DT dow is now just 200 points ghy from 10000. When it reaches that we will see big jump in USD for whatever reason news, IR , dow retracing etc etc...

Until then I think we will be in this 200 pip range.
EU heading for 483xxx then 151. Who the hell knows what here.

Don't know why pound isn't rising yet. After all it was just a voice from king nothing concrete yet.
Even without Kings voice, GBPs were overbought and I already had a plan before his speech
"Hate the sin, love the sinner." - Gandhi
  • #166,365
  • Sep 16, 2009 1:39pm Sep 16, 2009 1:39pm
Who knows where this market will go, I have been long and short today as I focus on the shorter time frames, yes more stressful and will burn out one day.

Looking out at the bigger time frames, do we have a head and shoulders on the daily chart?
  • #166,366
  • Sep 16, 2009 1:41pm Sep 16, 2009 1:41pm
Yes, you can see it also on H4 chart.
"Hate the sin, love the sinner." - Gandhi
  • #166,367
  • Sep 16, 2009 1:44pm Sep 16, 2009 1:44pm
Computerised ping pong in action. See ya LDN.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd16-09-05.gif Size: 17 KB
  • #166,368
  • Sep 16, 2009 1:46pm Sep 16, 2009 1:46pm
Hope so DT , I also think the up movement was just to get more buys....now really, fundamentally, is the GBP atm stronger than Yen ?
"Hate the sin, love the sinner." - Gandhi
  • #166,369
  • Sep 16, 2009 1:51pm Sep 16, 2009 1:51pm
Quoting TheGabriel
Hope so DT , I also think the up movement was just to get more buys....now really fundamentally the GBP is stronger than Yen atm?
Not sure about the funnnymentals mate, I am waiting to see if the 1hr hammer from earlier remains in play... I will have to see if NY plays ball before close.
  • #166,370
  • Sep 16, 2009 1:56pm Sep 16, 2009 1:56pm
Today they got the highest unemployment rate since 1995 and it went up in a fast way with high volume and now is not able to close above 6500 resistance on h1...sounds pretty delicate to me.
"Hate the sin, love the sinner." - Gandhi
  • #166,371
  • Sep 16, 2009 2:01pm Sep 16, 2009 2:01pm
I come back and we are to the pip the exact same spot as when i left last night.

Booooo!
Que
  • #166,372
  • Sep 16, 2009 2:06pm Sep 16, 2009 2:06pm
Quoting Que
I come back and we are to the pip the exact same spot as when i left last night.

Booooo!
Bro I got only few hours of sleep since Monday, been waiting for the mofo to move...i should have banked the pips at the bottom and I'll do so next time, better to lock profits. I started to manage an account for someone since Monday and it's only 1000$...with 0,1 lots (minimum risk at my broker...) so I have to avoid mistakes, but I'll cut the losses when I see a new strong trend direction.

Right now is going sell again as predicted, I'll bank if after the downtrend I see a correction on H1 or bigger, when correction ends I'll re-enter position on new signal & better price.
"Hate the sin, love the sinner." - Gandhi
  • #166,373
  • Sep 16, 2009 2:08pm Sep 16, 2009 2:08pm
Quoting pakitrader
Who sold the dragon
i sold it for the first time

and I am worried
The dragon can burn you in a heartbeat.You are playing with the flamethrower of pairs GL
  • #166,374
  • Sep 16, 2009 2:19pm Sep 16, 2009 2:19pm
Quoting direct-trade
Computerised ping pong in action. See ya LDN.
i couldnt agree more catcha l8er bud
  • #166,375
  • Sep 16, 2009 2:20pm Sep 16, 2009 2:20pm
Quoting Fly2
The dragon can burn you in a heartbeat.You are playing with the flamethrower of pairs GL
everything is slow this time.......
  • #166,376
  • Sep 16, 2009 2:28pm Sep 16, 2009 2:28pm
Quoting TheGabriel
Today they got the highest unemployment rate since 1995 and it went up in a fast way with high volume and now is not able to close above 6500 resistance on h1...sounds pretty delicate to me.
What I meant was I dont use funnymentals to trade

Reading the tape earlier showed me the quick rise we had was full of sellers. Now, they could hold and add more, therefore taking us above 15050 again, or they may have sold at the top already. I took the Short at 15050 as I saw price stalling at that level.

I could be completely wrong about this, but I think we will fall slowly from here and pick up momentum as we go. The large sellers don't want to drop price too quickly as they don't want to panic the market before all of their positions are in. They may just let the double bottom buyers keep sending it back up so they can keep off loading...if the double bottom buyers run out of steam the Short players may continue causing further rises by buying 30% and selling 70% until they are ready to go.


What I do know is that I am holding my Shorts from 15220 and 16683 with 4th targets already collected from further down as shown on earlier posts/charts. Today's "Cheeky" short as I call it from 15050 was to test the waters so to speak. This is at BE, so I don't have anything to lose, but I will add more if we pass todays low during Asia/Ldn.

A spike such as we saw is normal behaviour by the players before a large fall, only time will determine if that one spike was it, or if we need another upthrust.

Patience is the key here, the fall from 16250/16350 took hours to turn, but was worth it.

Trade your charts and don't let me influence you, like I said before, I could be completely wrong bro.
  • #166,377
  • Sep 16, 2009 2:39pm Sep 16, 2009 2:39pm
I don't decide on news too, correlation is better, but sometimes news help when they confirm my technical analysis...i know it's a huge manipulation behind news too and usually they just confirm the prediction I have.

ATM I'm considering both directions and I'll get out if it breaks the 150.54, high of the last uptrend.
"Hate the sin, love the sinner." - Gandhi
  • #166,378
  • Sep 16, 2009 2:40pm Sep 16, 2009 2:40pm
Dont tell me it can spike up again to 1.6580

Short here
  • #166,379
  • Sep 16, 2009 2:58pm Sep 16, 2009 2:58pm
anyone can tell me when it will begin to drop to the deep sea

TKS
  • #166,380
  • Sep 16, 2009 3:13pm Sep 16, 2009 3:13pm
Head Fake again ?

No momentum now
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