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Cable Update (GBPUSD)

  • #173,841
  • Oct 7, 2009 9:52am Oct 7, 2009 9:52am
what happened to every1 in here so quite u all short or what?
  • #173,842
  • Oct 7, 2009 9:59am Oct 7, 2009 9:59am
Quoting nAVIN2007
what happened to every1 in here so quite u all short or what?
A quiet market, Navin, equates to less noise on forums. The market, it appears, is reluctant to take a strong direction until Q3 earnings season kicks off tonight with Alcoa.
  • #173,843
  • Oct 7, 2009 10:01am Oct 7, 2009 10:01am
Quoting gammase1
A quiet market, Navin, equates to less noise on forum. The market is reluctant to take a strong direction until Q3 earnings season kicks off tonight with Alcoa.
oh crap i need to be careful then..thanks buddy
  • #173,844
  • Oct 7, 2009 10:03am Oct 7, 2009 10:03am
dam it yes we are short
  • #173,845
  • Oct 7, 2009 10:10am Oct 7, 2009 10:10am
Quoting nAVIN2007
what happened to every1 in here so quite u all short or what?
I went short against my plan, then if popped it. I guess everyone is quiet because there is no real movement as of now. Since GBP rate decisions are coming out tomorrow, I am afraid PA will remain in this tight range 59.20-5859
The Sky is the Limit!
  • #173,846
  • Oct 7, 2009 10:16am Oct 7, 2009 10:16am
Quoting kill
dam it yes we are short

oh.. im sorry bro!!
this market is absolute b*tch!! it really is..i have been in 4 trade today, and got it!! ony this one funny enough (still i might get a blow again) seem to be working

and oddly its the one which i consider the risk

it might come back down to finish me off!!!
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  • #173,847
  • Oct 7, 2009 10:17am Oct 7, 2009 10:17am
there is a trap to the downside on the 4 hr chart. the top 1.5921 area. a sustained break below 1.59, i target 1.5810
  • #173,848
  • Oct 7, 2009 10:17am Oct 7, 2009 10:17am
Quoting ahlamo
I went short against my plan, then if popped it. I guess everyone is quiet because there is no real movement as of now. Since GBP rate decisions are coming out tomorrow, I am afraid PA will remain in this tight range 59.20-5859
Alcoa's results, should they deviate markedly from either side of investors' expected range for the net income, will have the power to move the markets.
  • #173,849
  • Oct 7, 2009 10:19am Oct 7, 2009 10:19am
Quoting ahlamo
I went short against my plan, then if popped it. I guess everyone is quiet because there is no real movement as of now. Since GBP rate decisions are coming out tomorrow, I am afraid PA will remain in this tight range 59.20-5859

u know i had 4 trade 3 floped..one stopped and then tanked typical but the others, i enter, got scared and run

u gotta stick to the plan....sound easy but its so hard. i know!
  • #173,850
  • Oct 7, 2009 10:20am Oct 7, 2009 10:20am
Good day to you all,

Updated chart with new position entered into. Chart attached with notes:

1st sell was taken @ 1.5895 - just below the 1.5900 round number as well as just below the low of the daily channel by low @ 1.5898.

Should price break above ( it has) - I am placing a further sell @ 1.5938 - just below the 50% line of last week sitting @ 1.5947 and just above the Monday close price @ 1.5933

Last sell will be placed, if need be, @ 1.5980. This is the monthly opening price.

Bounces can be expected off these levels. Will watch PA as we progress and will manage the trade accordingly.

I treat any move up as a retracement based on my daily chart.

I wish you all success!

Regards
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  • #173,851
  • Oct 7, 2009 10:26am Oct 7, 2009 10:26am
Quoting TauTrader
Good day to you all,

Updated chart with new position entered into. Chart attached with notes:

1st sell was taken @ 1.5895 - just below the 1.5900 round number as well as just below the low of the daily channel by low @ 1.5898.

Should price break above ( it has) - I am placing a further sell @ 1.5938 - just below the 50% line of last week sitting @ 1.5947 and just above the Monday close price @ 1.5933

Last sell will be placed, if need be, @ 1.5980. This is the monthly opening price.

Bounces can be expected off these levels. Will watch PA...
please be carefull...i will post chart for why this can go up..

firstly GBP strength is looking to retrace..
another thing on the monthly we are talking about a massive support/ resistance area..

and lastly weekly previous candle is doji like, thats not a fantastic scenero for more short..

i am not saying it wont come down, it probably will but its a guess, nothing here but guessing on the short

one more thing the pin highlighted is the one which is holding..its looking valid, all other stuff hasnt done its job
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  • #173,852
  • Oct 7, 2009 10:30am Oct 7, 2009 10:30am
Quoting nAVIN2007
please be carefull...i will post chart for why this can go up..

firstly GBP strength is looking to retrace..
I'm with you on this, pullback is coming on the pound

Bullish Engulfing on GBPLFX 4h TF

Attached Image (click to enlarge)
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At least for today, I don't see cable below 1.58 IMHO

Jhon
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #173,853
  • Oct 7, 2009 10:35am Oct 7, 2009 10:35am
Quoting JhonMonsalve
I'm with you on this, pullback is coming on the pound

Bullish Engulfing on GBPLFX 4h TF

Attachment

At least for today, I don't see cable below 1.58 IMHO

Jhon

This beast in northbound today - no doubt!
  • #173,854
  • Oct 7, 2009 10:37am Oct 7, 2009 10:37am
and spinning top on a weekly chart right of the support area...even if we range for the rest of the week we looking at another spinning top that aint good for shorting

this are just my view...i can be wrong but it is important to share analysis i feel


just be carefull adding to a postion here
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  • #173,855
  • Oct 7, 2009 10:38am Oct 7, 2009 10:38am
Quoting Bullbear0072
This beast in northbound today - no doubt!
The problem is trade the pound against $, I mean, is better to switch another pair like GBPCHF, b/c the $ is on pullback too
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #173,856
  • Oct 7, 2009 10:39am Oct 7, 2009 10:39am
Quoting nAVIN2007
please be carefull...i will post chart for why this can go up..

firstly GBP strength is looking to retrace..
Thank you for your comment.. Well - I'm in... Will see how price behaves around the 1.5950 area. Confluence of the 50% line of last week, as well as the 50% line of this week sitting there.

Will make this my second sell - change from 1.5938, if I still see a continuation to the downside.

But I may have totally misread this trade....

Thanks again.

My highest regards
  • #173,857
  • Oct 7, 2009 10:43am Oct 7, 2009 10:43am
Quoting TauTrader
Thank you for your comment.. Well - I'm in... Will see how price behaves around the 1.5950 area. Confluence of the 50% line of last week, as well as the 50% line of this week sitting there.

Will make this my second sell - change from 1.5938, if I still see a continuation to the downside.

But I may have totally misread this trade....

Thanks again.

My highest regards
What about this?

Attached Image (click to enlarge)
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"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #173,858
  • Oct 7, 2009 10:45am Oct 7, 2009 10:45am
Quoting TauTrader
Thank you for your comment.. Well - I'm in... Will see how price behaves around the 1.5950 area. Confluence of the 50% line of last week, as well as the 50% line of this week sitting there.

Will make this my second sell - change from 1.5938, if I still see a continuation to the downside.

But I may have totally misread this trade....

Thanks again.

My highest regards
no u havent we all see the market differently, i see a big reluctance to go down ..the trend is down it may go there im risking 30 pips

stick to plan buddy
  • #173,859
  • Oct 7, 2009 10:46am Oct 7, 2009 10:46am
Dow down 34 now from b/e so currencies a little weak

I expect some rebound as the stocks are like this - any slippage and that money on the sides comes back in to the market
  • #173,860
  • Oct 7, 2009 10:47am Oct 7, 2009 10:47am
Good day to you,

It's been a very difficult week for me so far. Did not get a lot of screentime and were looking for trades when I did have time to watch the charts.

Was stuck in a EU trade for most of the week and only got out today with only 5 pips to show. Also had to make up a loss that I started with of -70 pips. So I am on BE for the week...

Tough times!

Regards
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