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Cable Update (GBPUSD)

  • #178,081
  • Oct 21, 2009 7:16am Oct 21, 2009 7:16am
Quoting Fudomyo
This is going to be a tough level to break through. A lot of sellers up here.

Have to chip away at it little by little. we'll have a smoother ride once we're through this bit. Next will be 1.6645.
will it be enough is the question
  • #178,082
  • Oct 21, 2009 7:25am Oct 21, 2009 7:25am
How if GU 1.7, EU 1.5 and USD become useless? what the world economy will be?
  • #178,083
  • Oct 21, 2009 7:26am Oct 21, 2009 7:26am
Quoting albchr
Hey GM, how about selling off some of your longs so this BITCH can drop some...Huh?....LOL
Hey Chris,

well...actually...she dropped very nicely yesterday and that was unique opportunity to load up on longs...

http://www.forexfactory.com/showpost...stcount=177759

btw, to be fair she's really acting like a lady now...
Hear the music before the song is over ...
  • #178,084
  • Oct 21, 2009 7:26am Oct 21, 2009 7:26am
Quoting nAVIN2007
will it be enough is the question
If it isn't.... then we short! lol

since GU is correlating with EUR/GBP it's going to be tough.

.90 is solid stone at the moment.

Quoting Magix
Typically, I don't watch for these things, for the most part, I believe them to be as mythical as unicorns n leprechauns, but, an interesting observation to say the least.

only rich leprechans believe in SR levels.
  • #178,085
  • Oct 21, 2009 7:27am Oct 21, 2009 7:27am
On the bull flag thing....

The dragon about to complete it's run, APPROX 151.07, wonder if it gunna smack it's head on this ceiling and start it's retrace???

Fer shitz n gigglez...

Just loaded a short, dragon, 1.5101
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #178,086
  • Oct 21, 2009 7:30am Oct 21, 2009 7:30am
Quoting GlobalMacro
Thanks buddy...


well...last time I tried that name the crowd formed a line in front of my office....no,no,no,never again...

it's very impresif to have longs on very bottom of the leg.
I' m Gonna learn much from you Globalmacro...
  • #178,087
  • Oct 21, 2009 7:31am Oct 21, 2009 7:31am
Quoting Fudomyo
If it isn't.... then we short! lol

since GU is correlating with EUR/GBP it's going to be tough.

.90 is solid stone at the moment.




only rich leprechans believe in SR levels.
If you wanna be successful, do what successful people do...

So

I play SR, but not ones I can paint, prefer to work with moving averages. Typically everytime I start drawing the lines in the sand, is when I get to again understand, WHY I have adopted the strategies that I have...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #178,088
  • Oct 21, 2009 7:35am Oct 21, 2009 7:35am
Quoting Fudomyo
If it isn't.... then we short! lol

since GU is correlating with EUR/GBP it's going to be tough.

.90 is solid stone at the moment.




only rich leprechans believe in SR levels.
look like theres another trader in in here with good insight..we looking at the same thing brother!!! i agree .90 is solid but need to be solid on 4hr as well to give any chance
monthly is bullish so it on that so bounce is possible
wellcome to the thread
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  • #178,089
  • Edited 8:02am Oct 21, 2009 7:39am | Edited 8:02am
Quoting Magix
If you wanna be successful, do what successful people do...

So

I play SR, but not ones I can paint, prefer to work with moving averages. Typically everytime I start drawing the lines in the sand, is when I get to again understand, WHY I have adopted the strategies that I have...
To each his own.

I do it the old fashioned way. I start from the highest timeframe drawing SR lines and work my way down to find the highest correlating areas.
Since MAs are in motion, they will be in a different place by the time price reaches them, sometimes MAs correlate with the SR and trend lines that I draw, sometimes they don't. But the SR levels are more accurate I found and can give you longer term targets that the MAs haven't identified yet. That's how I knew 1.65876 was a good target. We stopped at 1.65885. One ninetieth of a pip off.

(it doesn't happen like that every time, but it's nice when it does)
.
  • #178,090
  • Oct 21, 2009 7:41am Oct 21, 2009 7:41am
EG forecast...
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #178,091
  • Oct 21, 2009 7:51am Oct 21, 2009 7:51am
Quoting nAVIN2007
look like theres another trader in in here with good insight..we looking at the same thing brother!!! i agree .90 is solid but need to be solid on 4hr as well to give any chance
monthly is bullish so it on that so bounce is possible
wellcome to the thread
thanks Navin

I really like your analysis as well.

4H is pancaked on the bottom with nowhere else to go... lol
it's going to have to bounce sooner or later.
  • #178,092
  • Oct 21, 2009 7:55am Oct 21, 2009 7:55am
Quoting Fudomyo


she broke the diamond!

1.631 long.
let's see if we can close above 1.648.
Hi Fudomyo, on what time frame was the diamond? If possible, I would like to see a pic of it, thanks.
  • #178,093
  • Oct 21, 2009 7:58am Oct 21, 2009 7:58am
Some think for retracement, some taking long! What if a hard plummet at NY session?
No Signal, No Trade. No fundamenals, No headache.
  • #178,094
  • Oct 21, 2009 8:14am Oct 21, 2009 8:14am
Approaching further upside move? I could be wrong.

Updated chart here:

http://www.forexfactory.com/showpost...&postcount=189
  • #178,095
  • Oct 21, 2009 8:17am Oct 21, 2009 8:17am
all frames soon overbought without week. hrhr
  • #178,096
  • Oct 21, 2009 8:19am Oct 21, 2009 8:19am
Quoting OGW
Hi Fudomyo, on what time frame was the diamond? If possible, I would like to see a pic of it, thanks.
here
http://www.forexfactory.com/showpost...stcount=177911

Actually it wasn't a classic diamond pattern because it was such a short timeframe that I was factoring it on. It was more of a channel cross.
The candles were forming lower highs in the bull channel so I drew the bear channel in and waited to see which channel would hold. I entered the trade when the bear utl broke.
  • #178,097
  • Oct 21, 2009 8:27am Oct 21, 2009 8:27am
Thank you for your reply, I appreciate it.
  • #178,098
  • Oct 21, 2009 8:30am Oct 21, 2009 8:30am
1st post!

Does anyone see any good reason that this pound surge will retrace? I have got myself into a major problem and am short at 1.6508 for £3/point and will soon have to bite the bullet and take a major loss before moving into "busted account" territory. I had thought that the US market open was going to save my bacon.
  • #178,099
  • Edited 8:48am Oct 21, 2009 8:32am | Edited 8:48am
http://www.forexfactory.com/showpost...stcount=173641

Take a look at chart in my earlier post....as per above link

am so sorry as i have not much time to reply the same thing again n again. .

Good luck
  • #178,100
  • Oct 21, 2009 8:48am Oct 21, 2009 8:48am
Nobody cheering?

No bulls left psept me?
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