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Cable Update (GBPUSD)

  • #170,501
  • Sep 29, 2009 7:40am Sep 29, 2009 7:40am
Quoting FxClown
I am not good at deciphering candle formations but is there not a pin bar at 2pm UK time.
That needs to invalidated for further downside in the short term. I am cautiously long.
That pin bar held nicely and looks like there were lots of buyers just above, including me ().
Rode her majesty up from yesterday's pin, down early this morning and back up to 1.5990. Oh, I wish it was this frigging easy.
Nice trading DT,BB, Wormie....
It is shaping up for 1.6140/50 and if I was to guess, tomorrow afternoon could be very interesting.
None the wiser!
  • #170,502
  • Sep 29, 2009 7:41am Sep 29, 2009 7:41am
Quoting bobbybrown
Hi all. Hope everyones doing well today
Thank you

Same to you

Regards
  • #170,503
  • Sep 29, 2009 7:44am Sep 29, 2009 7:44am
Quoting FxClown
That pin bar held nicely and looks like there were lots of buyers just above, including me ().
Rode her majesty up from yesterday's pin, down early this morning and back up to 1.5990. Oh, I wish it was this frigging easy.
Nice trading DT,BB, Wormie....
It is shaping up for 1.6140/50 and if I was to guess, tomorrow afternoon could be very interesting.
Good day to you,

Yip, some days are just perfect. Everything comes together for you. Well done!

Now build that account!

Regards
  • #170,504
  • Sep 29, 2009 7:45am Sep 29, 2009 7:45am
Quoting TauTrader
Good day to you,

I am personally fighting with a trade on EU and this has kept me busy enough.... not looking too good at the moment. Anyway - chart attached and referenced:

1)&2) Price is attempting to break through some strong resistance at the moment. These are the weekly open @ 1.5965, yesterday's high @ 1.5977 as well as a horizontal trendline @ 1.5977

the only barrier to the upside will be 1.6000 for now, once clearing - could be significant. Will not consider longing from here unless we clear 1.6000.

3) 1.5927 is Friday's close to...
where do you think it would support from pullback, Tau? 1.5920 or 1.5850?
  • #170,505
  • Sep 29, 2009 7:50am Sep 29, 2009 7:50am
Quoting TauTrader
Good day to you,

Yip, some days are just perfect. Everything comes together for you. Well done!

Now build that account!

Regards
Good afternoon my friend.
It has been unreal. I am slowly building my account to trade without to much stress.
I hope to start posting my own analysis but am playing catchup with you. Keep it up Tau.
None the wiser!
  • #170,506
  • Sep 29, 2009 7:51am Sep 29, 2009 7:51am
Quoting GlobalMacro
Price at its second attempt to break above friday's low
This level is heavily offered atm
Overall bearish momentum still intact
Pull-back offers good value for money

I am selling more here as well @ 1.5916
Quick Position Update Here:

Dollar rising
Crude falling
and It seems cable's stuck between a rock and a hard place
Will continue to stay with the still prevailing bearish tendency
until price stops trading all over the place and makes a conclusive statement.
Attached Image
Hear the music before the song is over ...
  • #170,507
  • Sep 29, 2009 7:53am Sep 29, 2009 7:53am
Up Or Down !?
Attached Image (click to enlarge)
Click to Enlarge Name: GBP.USD-7-7.gif Size: 21 KB
  • #170,508
  • Sep 29, 2009 7:56am Sep 29, 2009 7:56am
I think there will be a low volume upthrust to the 1.6050 region before we go down...As I saw others comment totally agree that the indicies are ready to drop but I would like to see a retest of the highs..
S&P is over 1063 at present and If we get a close above 1070 today I aint got a clue...Yesterdays 17 point move scared me to be honest..Lets wait and see where she goes currently still holding short in the untouchable zone.....waiting for 1.5300

Good Luck all
Let Price determine your future!
  • #170,509
  • Sep 29, 2009 8:00am Sep 29, 2009 8:00am
Now SHORt!! to where Guys?!... All Birds fly SOUTH...
  • #170,510
  • Sep 29, 2009 8:06am Sep 29, 2009 8:06am
Quoting Reznik
Now SHORt!! to where Guys?!... All Birds fly SOUTH...
not realy... if you are DOWNUNDER like me..
  • #170,511
  • Sep 29, 2009 8:08am Sep 29, 2009 8:08am
come on, show us your 16000!!!! I know you want to.
May the forex be with you |
  • #170,512
  • Sep 29, 2009 8:11am Sep 29, 2009 8:11am
Good day to you,

4hr chart - bullish engulfing after bearish engulfing?

Me finks I need to find a discounted price to buy...

Could the better candle readers comment?

Regards
  • #170,513
  • Sep 29, 2009 8:17am Sep 29, 2009 8:17am
Quoting Reznik
Now SHORt!! to where Guys?!... All Birds fly SOUTH...

Nope!! I will wait, sitting on the Fence...
  • #170,514
  • Sep 29, 2009 8:28am Sep 29, 2009 8:28am
Quoting albchr
I think it's gonna have a tough time with 5980ish myself.
Kind of tough (for me) on the candles with this crazy PA Tau but I have good resistance at the 5980 area. Not saying it won't break but it's holding thus far.

My 5979 short at BE got hit but I got back in at 80 so we'll see.
Ghost Rider - WWTBMD?
  • #170,515
  • Sep 29, 2009 8:35am Sep 29, 2009 8:35am
Quoting albchr
Kind of tough (for me) on the candles with this crazy PA Tau but I have good resistance at the 5980 area. Not saying it won't break but it's holding thus far.

My 5979 short at BE got hit but I got back in at 80 so we'll see.
could well see pop up to 1.6030 area should the resistance break up, then 1.6130 if it really up for it! but that the extreme....

if it holds then we go back into the days range...

im on the sides until cc at 3pm GMT
Trading is 80% Emotional, 20% Technical
  • #170,516
  • Sep 29, 2009 8:35am Sep 29, 2009 8:35am
Quoting albchr
Kind of tough (for me) on the candles with this crazy PA Tau but I have good resistance at the 5980 area. Not saying it won't it break but it's holding thus far.

My 5979 short at BE got hit but I got back in at 80 so we'll see.
Good day to you,

Yip, I think it is better to take small bites of green at the moment, until this area is resolved.

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: gu111.gif Size: 18 KB
  • #170,517
  • Sep 29, 2009 8:40am Sep 29, 2009 8:40am
Hi tautrader

What is that daily range indicator you use that shows hi,lo,op,cl.
I serched but i cant find somting similar.I mast say that is looking
interesting.
And what is that on top of your chart that shows pip range.

Sorry my english sucks.
But tnx for any replay.

Robert
  • #170,518
  • Sep 29, 2009 8:42am Sep 29, 2009 8:42am
Quoting fx local
could well see pop up to 1.6030 area should the resistance break up, then 1.6130 if it really up for it! but that the extreme....

if it holds then we go back into the days range...

im on the sides until cc at 3pm GMT
No doubt we have some strong buying going on here. Every time she drops to 5950ish she gets pushed right back up. I'm "thinking" we're at or close to the high for today but one never knows....lol
Ghost Rider - WWTBMD?
  • #170,519
  • Sep 29, 2009 8:44am Sep 29, 2009 8:44am
Quoting TauTrader
Good day to you,

Yip, I think it is better to take small bites of green at the moment, until this area is resolved.

Regards
Kind of the way I'm seeing ATM....
Ghost Rider - WWTBMD?
  • #170,520
  • Sep 29, 2009 8:51am Sep 29, 2009 8:51am
Quoting albchr
No doubt we have some strong buying going on here. Every time she drops to 5950ish she gets pushed right back up. I'm "thinking" we're at or close to the high for today but one never knows....lol
nice trade, resistance held well, back into days range it seems, data due in 10 mins ....
Trading is 80% Emotional, 20% Technical
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