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Cable Update (GBPUSD)

  • #175,301
  • Oct 12, 2009 6:12pm Oct 12, 2009 6:12pm
Quoting alex1976
anyone wanna say for next uk session, up or down?
GBP UK House Price Balance +22 Vs +16 Forecast

GBP UK Retail Sales +4.9% in September.


If EU continue to $1.50 level GU flat or up from here.

I close my shorts for now.. Have some pending SELL around 1.6050,

if it gets there.
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #175,302
  • Oct 12, 2009 7:05pm Oct 12, 2009 7:05pm
Quoting TauTrader
Well that went quick!

Wormie, do you still have space in that shopping cart for my +5?
lol I do, it's a big cart!
Thank You
  • #175,303
  • Oct 12, 2009 7:24pm Oct 12, 2009 7:24pm
Quoting Ifty
1.75 really? Where is WB when you need him. .

I'm here brother.
I won't waste my time trying to point out anything anymore tbh.
This people calling for bullish read chart upside down methinks or worst a few days back someone recommended that trading out of their gut instinct, maybe they are doing that I don't know & I don't care to be honest. Not my money lol.

Attached below is my daily. A few days back, I saw a few guys having the same subltl connecting the 28th Sept, the 2nd Oct & 7th Oct low. The guys who do, like myself, I suspect were waiting for that break we had a couple of days ago. Now that we have it, we just looking to add positions as we look for price to get lower. There is absolutely no reason to be building long positions when price just broke lower. The utl needs to be taken out before any serious long positions can be loaded (ie, outlandish 1.7 targets)
Basically, we still selling.

I hope you are doing well with your trading ifty. Good luck
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Thank You
  • #175,304
  • Oct 12, 2009 7:35pm Oct 12, 2009 7:35pm
I am not convinced of uptrend on cable yet...

However I figured I would share my open positions.

I went long fibre E/U last night from .4693

subsequently took cable long @ 5757 as well as closed a cable loser. basically even on cable trades

I am looking to around 6000 area to consider new short or remaining in long.

I agree with wormboy. I also try not to trade against trend. However have been flat since last week. Fibre and cable have seemed to not regain correlation (strong) as of last week break off.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #175,305
  • Oct 12, 2009 7:59pm Oct 12, 2009 7:59pm
Watching MACD on 1hr chart, waiting for one more dip below zero and an explosion downside to close the shorts.

Been a mediocre day for scalping expected because of the low volume, but CRIPES!

Lost in the shorter term, made up in the longer.

CHA CHING
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #175,306
  • Oct 12, 2009 8:09pm Oct 12, 2009 8:09pm
Hi Magix,

So do you mean you will be looking to set up longs?

Btw Fibre position was 5 lots. 2 remain open the other 3 were closed @ 90 pips for how long I am not sure!!!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #175,307
  • Oct 12, 2009 8:11pm Oct 12, 2009 8:11pm
i short cable again @ 5782 TP @ 5765
  • #175,308
  • Oct 12, 2009 8:15pm Oct 12, 2009 8:15pm
Quoting XTrade
Hi Magix,

So do you mean you will be looking to set up longs?

Btw Fibre position was 5 lots. 2 remain open the other 3 were closed @ 90 pips for how long I am not sure!!!
Fook Yeah man,

Keep in mind, I play in shorter time frames, so, DO NOT, play what I say, I am in like a lamb, and out like a lion, but we got a lot more up before we see a lot more down.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #175,309
  • Edited 8:27pm Oct 12, 2009 8:25pm | Edited 8:27pm
No, I only take trades based on my analysis. That is very important to any trader new or old IMO.

Thus, I agree with your sentiment. We (cable wise) need to see some retracement up before continuing down.

I want to admit I got a bit killed on some premature cable longs...
(My fault
However, I was able to book in pips on my fibre trade and again, break about even on my cable trades.

I am loosely using fibre as a gauge for cable, I am not satisfied with the current correlation between the 2 pairs.

Fibre is DYIng to break 4800. If this happens "I" see cable breaking north.

Likewise I am seeing current support levels of cable @ 5785 area.


Quoting Magix
Fook Yeah man,

Keep in mind, I play in shorter time frames, so, DO NOT, play what I say, I am in like a lamb, and out like a lion, but we got a lot more up before we see a lot more down.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #175,310
  • Oct 12, 2009 8:27pm Oct 12, 2009 8:27pm
CABLE TECHS: Further declines to $1.5690 seen

RES 3 $1.6007 Oct 09 hourly res

RES 2 $1.5931 Oct 09 hourly sup

RES 1 $1.5883 Oct 12 high

CURRENT LEVEL: $1.5787

SUP 1 $1.5728 Oct 12 low

SUP 2 $1.5690 38% of $1.3500-1.7044

SUP 3 $1.5641 50% proj. of $1.6742-1.5770 fm $1.6127

COMMENTARY: Although minor consolidation in store today $1.5883

(yesterday`s high) should cap upside yield further weakness to $1.5690

(min. 38% of $1.3500-1.7044) this week. Below extends falls to $1.5641

(50% proj. of $1.6742-1.5770 from 1.6127) but steep fall below that

unlikely to be repeated. Website: www.trendsetterfx.com.
  • #175,311
  • Oct 12, 2009 8:32pm Oct 12, 2009 8:32pm
Quoting XTrade

Thus, I agree with your sentiment. We (cable wise) need to see some retracement up before continuing down.
Depends what tf you are referring to. I suspect it's not the daily. Definitely not the D4
Thank You
  • #175,312
  • Oct 12, 2009 8:35pm Oct 12, 2009 8:35pm
hi....
today GU will go up or down
any idea...
my idea is go down..
  • #175,313
  • Oct 12, 2009 8:53pm Oct 12, 2009 8:53pm
Wormboy, do you consider the daily bullish in any way?

You wouldnt consider that a hammer would you?

I went short a 5796.
  • #175,314
  • Oct 12, 2009 9:07pm Oct 12, 2009 9:07pm
Quoting alex1976
Wormboy, do you consider the daily bullishit in any way?

You wouldnt consider that a hammer would you?

I went short a 5796.
of course it is
  • #175,315
  • Oct 12, 2009 9:09pm Oct 12, 2009 9:09pm
EY is the best for short atm
GU I need to wait at 5890/5900 area...while 5850 could be the starting for a new phase of 5300 area...
GY still pulse mode (expect 146.50 retrace) as previous post.

All in all I could be wrong, trade what our chart tell us..Good luck
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  • #175,316
  • Oct 12, 2009 9:10pm Oct 12, 2009 9:10pm
Quoting alex1976
Wormboy, do you consider the daily bullish in any way?

You wouldnt consider that a hammer would you?

I went short a 5796.
Bullish??? Here's my earlier post:
http://www.forexfactory.com/showpost...stcount=175304

The daily is very bearish. And I won't counter trend trade based on a single candle. If that's a hammer, then another bullish close (morning star) is a better indication of a turn.
Thank You
  • #175,317
  • Oct 12, 2009 9:18pm Oct 12, 2009 9:18pm
Quoting forexlion
of course it is

good one lion!

What more can one expect?
  • #175,318
  • Oct 12, 2009 9:22pm Oct 12, 2009 9:22pm
Quoting wormboy
Bullish??? Here's my earlier post:
http://www.forexfactory.com/showpost...stcount=175304

The daily is very bearish. And I won't counter trend trade based on a single candle. If that's a hammer, then another bullish close (morning star) is a better indication of a turn.

Thanks Worm, I only ever ask questions cause I want to learn more.
  • #175,319
  • Oct 12, 2009 9:29pm Oct 12, 2009 9:29pm
Quoting alex1976
Thanks Worm, I only ever ask questions cause I want to learn more.
No problem my friend
We are all here to learn. There's just a few who are smarter than the rest & tend to do something a little different than usual - ie bucking against the trend

I'm outta here. Catch you later & good luck!
Thank You
  • #175,320
  • Oct 12, 2009 9:39pm Oct 12, 2009 9:39pm
Quoting Johor JCS
i short cable again @ 5782 TP @ 5765

hit my target
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