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Cable Update (GBPUSD)

  • #167,921
  • Sep 23, 2009 3:20am Sep 23, 2009 3:20am
what about taking long here ?
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  • #167,922
  • Sep 23, 2009 3:21am Sep 23, 2009 3:21am
I must be missing something here. BOVB off the trend line and the EMA 62 on the H4, and still people yelling long?

Que
Que
  • #167,923
  • Sep 23, 2009 3:22am Sep 23, 2009 3:22am
Quoting GlobalMacro
I'm carrying my longs set Tuesday morning @ 1.6214
Bullish price action continued early this session and traded to a high of 1.6414 yielding +200 pips
Cable's now trading @ 1.6355

Monday's pin bounced off the ascending TL and was confirmed by yesterday's PA forming a complete morning star on the daily.

I will continue to carry the long position.
yesterday i closed my long position in +100 pips. today if we are heading up and reaching yesterday's daily close (6352) + 30 pips = 6382 I will enter for another long.
  • #167,924
  • Sep 23, 2009 3:23am Sep 23, 2009 3:23am
Quoting Que
I do not make specific trade calls.

1. I am not going to recommend a trade that will cost someone else money.

2. TP and SL mean nothing if you do not know proper MM

3. I am not a great trader. I am OK but I am far from making a living from it.

Que
i agree with u.....
  • #167,925
  • Sep 23, 2009 3:24am Sep 23, 2009 3:24am
Quoting honeybhi
what about taking long here ?
even though you have high volume bars your next candle does not have a higher high than the candle you got the high volume on the buyers could be getting absorbed by sellers.

background is selling for now off 1.6400

above 1,6359 after news may be long...but not yet
Blogging daily now at www.volume.zone
  • #167,926
  • Sep 23, 2009 3:24am Sep 23, 2009 3:24am
Quoting honeybhi
what about taking long here ?

I suggest that you check some of the earlier posts - MPC news due out in 5 mins - expect volatility - why risk before such an important announcement??
Trading Levels with WRBs
  • #167,927
  • Sep 23, 2009 3:25am Sep 23, 2009 3:25am
Quoting honeybhi
what about taking long here ?
G/L with that ahead of Boe/mpc minutes, lol...the event risk is probably just about skewed to the downside, but it's close and as usual anything can happen?
ex member
  • #167,928
  • Sep 23, 2009 3:26am Sep 23, 2009 3:26am
updated levels,
cci12.
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  • #167,929
  • Sep 23, 2009 3:26am Sep 23, 2009 3:26am
careful all, dont make a trend analysis based trade with a new signal due out in like 3 mins. WHIPSAWS GALORE!
Trade Like a Robot make money Like a Bank
  • #167,930
  • Sep 23, 2009 3:27am Sep 23, 2009 3:27am
if anyone pays attention to the FOMC result today, what are your thoughts?
Bernanke is an expert of the Great Depression and he surely understands exiting too early would simply kill all the rescue actions being done thus far. I believe there won't be any significant hint on rake hikes.
based on this, USD will keep its prevailing weaknesses. but i am bearish biased from a technical perspective atm
  • #167,931
  • Sep 23, 2009 3:29am Sep 23, 2009 3:29am
Good M/A/E all.

Just an interesting thought to those questioning why the pound could fall further- the dollar index is continuing to weaken with the euro trading at a one year high against the greenback, and USD/CHF reaching a new low- yet the pound is still only at 1.6400.
Suggests substantial pound weakness doesn't it? All it needs is for the dollar to rebound properly and that will send it even lower, maybe into the 1.5's
  • #167,932
  • Sep 23, 2009 3:30am Sep 23, 2009 3:30am
Couldn't snag a pic fast enough, but my spread was 21 for about 4 seconds there. What a joke...

Que
Que
  • #167,933
  • Sep 23, 2009 3:31am Sep 23, 2009 3:31am
Quoting sibajnok
yesterday i closed my long position in +100 pips. today if we are heading up and reaching yesterday's daily close (6352) + 30 pips = 6382 I will enter for another long.


Dat de signal... LONG!!
  • #167,934
  • Sep 23, 2009 3:32am Sep 23, 2009 3:32am
wow
  • #167,935
  • Sep 23, 2009 3:33am Sep 23, 2009 3:33am
Quoting malcolmb14
even though you have high volume bars your next candle does not have a higher high than the candle you got the high volume on the buyers could be getting absorbed by sellers.

background is selling for now off 1.6400

above 1,6359 after news may be long...but not yet
closed for quick spike 45 pip

off to bed ... good luck out there
Blogging daily now at www.volume.zone
  • #167,936
  • Sep 23, 2009 3:33am Sep 23, 2009 3:33am
I would not count what just happened as a signal heh.

Just my opinion though.

Que

Quoting Reznik
Dat de signal... LONG!!
Que
  • #167,937
  • Sep 23, 2009 3:34am Sep 23, 2009 3:34am
well after scanning the minutes- it seems not a lot interesting or consequential was said. Still big old spike.
  • #167,938
  • Sep 23, 2009 3:34am Sep 23, 2009 3:34am
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #167,939
  • Sep 23, 2009 3:34am Sep 23, 2009 3:34am
here we are
  • #167,940
  • Sep 23, 2009 3:34am Sep 23, 2009 3:34am
Wow it spiked up ,closed my long for 60 pips
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