Cable Update (GBPUSD) | Page 8945 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #178,881
  • Oct 26, 2009 8:27am Oct 26, 2009 8:27am
Quoting fourxtrader
A significant trend line on the daily.

Dr. D.
On the daily chart it looks like the turn back to the direction of the trend is happening around the 50% Fibo I have been watching this for a while wating for a good confirmation and now it looks as though it is back in the channel.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 24 KB
  • #178,882
  • Oct 26, 2009 8:30am Oct 26, 2009 8:30am
Quoting NightMoves
On the daily chart it looks like the turn back to the direction of the trend is happening around the 50% Fibo I have been watching this for a while wating for a good confirmation and now it looks as though it is back in the channel.
Edit: That was the weekly chart I posted, but still remains around the 50 Fibo.
  • #178,883
  • Oct 26, 2009 8:36am Oct 26, 2009 8:36am
I would not be so sure, maybe for day trading
  • #178,884
  • Oct 26, 2009 8:38am Oct 26, 2009 8:38am
This pair is still making higher highs and higher lows on the 15 min TF. As long as this happens we are heading still to the 1.6400 area. However, it looks like it has settled into a small triangle. A break of 6348 would gaurantee yet another higher high.

J
  • #178,885
  • Oct 26, 2009 8:45am Oct 26, 2009 8:45am
Quoting NightMoves
Edit: That was the weekly chart I posted, but still remains around the 50 Fibo.
I do agree with you, once the trend breaks through the 50 SMA and starts inching its way to the 100 SMA that is a sign the trend is weakining (at least the way I trade). I like to search for entry spots between the 30 sma and the 50 sma being ideal and there has to be other signs that the trend is continuing. I have a list of 6 things I look for and 4 of them have to be in the area before I consider it a low risk trade anything less than 4 and it is a high risk trade in my opinion(and thats all it is an opinion).
  • #178,886
  • Oct 26, 2009 9:01am Oct 26, 2009 9:01am
Quoting Nene
This pair is still making higher highs and higher lows on the 15 min TF. As long as this happens we are heading still to the 1.6400 area. However, it looks like it has settled into a small triangle. A break of 6348 would gaurantee yet another higher high.

J
This could go higher only 2 of the 6 items I look for are in play so at this point I am not looking for any short entries for a while at least not on the longer time frames.
  • #178,887
  • Oct 26, 2009 9:05am Oct 26, 2009 9:05am
Quoting neo1599
Great bounce. I am adding shorts as it goes higher. Now 5 open Short positions. SL 6368.

I know every1 is on northbound now, but my charts keep giving short till 6368 taken out signal. May be wrong as I usually am with this pair.

I am looking to hold the positions throughout the week if SL doesn't hit. Might close them if in profit before event risk situations.

Neo
http://www.forexfactory.com/showpost...stcount=178804

patient is virtue..
  • #178,888
  • Oct 26, 2009 9:12am Oct 26, 2009 9:12am
As I said before, we needed a break of 6348 to confirm yet another high and there she was. Now lets see another higher low. 1.6320 was the last low on the 15 Min. I will not worry until we go lower than that. My stop has been moved to 1.6310. I always have my stop close on retraces.

J

Quoting Nene
This pair is still making higher highs and higher lows on the 15 min TF. As long as this happens we are heading still to the 1.6400 area. However, it looks like it has settled into a small triangle. A break of 6348 would gaurantee yet another higher high.

J
  • #178,889
  • Oct 26, 2009 9:17am Oct 26, 2009 9:17am
Quoting Nene
As I said before, we needed a break of 6348 to confirm yet another high and there she was. Now lets see another higher low. 1.6320 was the last low on the 15 Min. I will not worry until we go lower than that. My stop has been moved to 1.6310. I always have my stop close on retraces.

J
as long as 6430 is not break up..we r still in bear camp
  • #178,890
  • Oct 26, 2009 9:19am Oct 26, 2009 9:19am
I guess we will see if the daily trendline holds as resistance, as it is testing it as we speak.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd1.gif Size: 27 KB
  • #178,891
  • Oct 26, 2009 9:19am Oct 26, 2009 9:19am
Thank You
  • #178,892
  • Oct 26, 2009 9:21am Oct 26, 2009 9:21am
no one singing?
  • #178,893
  • Oct 26, 2009 9:21am Oct 26, 2009 9:21am
I am on vacation so I have to place limit orders if I am going to trade. Since MT4 don't work on blackberry it really sucks. But I am thinkin about taking a lot size and splitting it up into 3 equal parts. A sell limit at 6390, 6420 and 6495 and these are approximate fib areas of 38, 50 and 61.8. If I hit one and it turns then so be it, but this is how Im gonna play this one.

Jim
  • #178,894
  • Oct 26, 2009 9:24am Oct 26, 2009 9:24am
Quoting mloistianto
Hai.. Well. like my other problems. its always about TP, any master here care to share my long TP? I know, GBP trend is down, as prelim GDP gone very bad, and people cut their hope as the GBP currency condition worsen. But, US condition is also at some point not very safe. If Obama's gov does not take any good movement, a great inflation like 1970 era will be repeated. I just want to follow the trend. I'm long from 1.6255. thanks
Hello people, this is my limit. closed @ 1.6378 0.5 lot total +123 pips. its a good number. will add short pretty soon.. will watch for a moment.
  • #178,895
  • Oct 26, 2009 9:26am Oct 26, 2009 9:26am
Theres alot of institutional buying on the pound, and Goldman came with their price target for the pound in the 1.80 range, so I wouldn't be shorting this pair until it shows some lower lows, and so far its doing the opposite so buying on dips should be preferred until break of 1.57 for it to be bearish.
  • #178,896
  • Oct 26, 2009 9:28am Oct 26, 2009 9:28am
Quoting wormboy
  • #178,897
  • Oct 26, 2009 9:29am Oct 26, 2009 9:29am
the cable is reaching 200EMA(blue line) which is acting as a resistance..looking to go short when it reaches there.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 20 KB
  • #178,898
  • Oct 26, 2009 9:31am Oct 26, 2009 9:31am
Quoting grashid
bro .. dragon kita flying
Thank You
  • #178,899
  • Oct 26, 2009 9:31am Oct 26, 2009 9:31am
Look for small retrace here back to 6340-6350 area on the 15 Min.

J
  • #178,900
  • Oct 26, 2009 9:33am Oct 26, 2009 9:33am
Good day to you,

Out!

Regards
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu1000.gif Size: 16 KB
Click to Enlarge Name: gy1000.gif Size: 14 KB
398 traders viewing now, 2 are registered:
fmtrad3r
,
unsolutionn