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Cable Update (GBPUSD)

  • #181,941
  • Nov 9, 2009 11:13pm Nov 9, 2009 11:13pm
Quoting Magix
200 MA on 1m...SHORT!
CHA CHING!

Alright...This time, I am out for sure...

Knight AWL!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #181,942
  • Nov 9, 2009 11:17pm Nov 9, 2009 11:17pm
Quoting Magix
CHA CHING!

Alright...This time, I am out for sure...

Knight AWL!


Sleep tight... Cha Ching!! U must be so discipline. Cha Ching!!
  • #181,943
  • Nov 9, 2009 11:22pm Nov 9, 2009 11:22pm
Quoting isguru
Talking to a friend yesterday, she was suggesting 1.764 and I just couldn't see it, BUT I am supicious of the down move today and with you the KING OF ALL BEARS suspicious too, I'll take heed....
you friend may not be wrong

If dx breaks 75 ..... strong chance gu could rip 400 to 500 pip up as dx support is 72.

tomorrow during us session is critical for dx , we are either going to slice thru support and stops will be triggered sending eu m au and gu higher.

or we are going to see buyers supporting dx and selling stocks ....

I know for one thing .... US session tomorrow should be a crazy one

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  • #181,944
  • Nov 9, 2009 11:25pm Nov 9, 2009 11:25pm
GM - I see that I missed an interesting move -130 pips in 9 mins....hope the longs had hard stops....for those that havent seen the news, here it is...

0552 GMT [Dow Jones] GBP falls sharply; Hiroshi Maeba, senior dealer at Nomura Securities says players reacting to Reuters report that Fitch's co-head of global sovereign ratings David Riley said U.K. most at risk of losing its AAA status among major economies. Large impact on GBP/USD as remark came out of blue, trading volume so far in day thin. GBP declines also pushing down other crosses such as EUR, he says. GBP/USD falls to 1.6608 (vs 1.6755 pre-remark); GBP/JPY falls to 149.38 (vs 150.72 pre-remark) with next support at 1.6500, 148.00 respectively, dealers say. EUR/USD last 1.4966, may fall to 1.4900, EUR/JPY last 134.46, may fall to 133.50, dealers say. (TMO)
Trading Levels with WRBs
  • #181,945
  • Nov 9, 2009 11:25pm Nov 9, 2009 11:25pm
Quoting malcolmb14
you friend may not be wrong


tomorrow during us session is critical for dx , we are either going to slice thru support and stops will be triggered sending eu m au and gu higher.

I know for one thing .... US session tomorrow should be a crazy one

Attachment

I would slightly disagree... with the bank holiday following it(being the upcoming US Session), I can not forsee much volume or action. I know a lot of bank associates are taking vacation pay right now and taking thursday+friday off. Will be interesting.
Trade Like a Robot make money Like a Bank
  • #181,946
  • Nov 9, 2009 11:27pm Nov 9, 2009 11:27pm
Quoting pipmyride
why do i believe this more than i believe the recent relentless bull ??

No way in hell i'm longing this while its come straight back into the consolidation zone of the last few months...

I could make a bold prediction that our earlier bear calls to 1.58 are now back in play ??

Good luck

It is looks like time to join the trade... All set-up is Green... Am So SHORT right now... Bye
  • #181,947
  • Nov 9, 2009 11:27pm Nov 9, 2009 11:27pm
This is an interesting follow up....

0644 GMT [Dow Jones] GBP/USD could falter further with Reuters report citing Fitch as saying UK most at risk of losing AAA status among major economies, says Sydney-based RBC Capital Markets FX strategist Sue Trinh; acknowledges there's risk of a headfake - where currency takes off in one direction but then reverses in few hours to head in opposite direction - but adds something feels bit different this time vs when S&P placed UK on "negative outlook" back in May. "Having tested range lows in the U.S. dollar, this could be the excuse range traders were looking for" to push down GBP. Pair fell to low of 1.6601 vs 1.6755 pre-report; now back near 1.6650.(SHN)
Trading Levels with WRBs
  • #181,948
  • Nov 9, 2009 11:28pm Nov 9, 2009 11:28pm
Quoting raz
I would slightly disagree... with the bank holiday following it(being the upcoming US Session), I can not forsee much volume or action. I know a lot of bank associates are taking vacation pay right now and taking thursday+friday off. Will be interesting.


sometime as we have seen tonight they will use the low volume to have max volatility ....
Blogging daily now at www.volume.zone
  • #181,949
  • Nov 9, 2009 11:30pm Nov 9, 2009 11:30pm
Quoting Islander
This is an interesting follow up....

0644 GMT [Dow Jones] GBP/USD could falter further with Reuters report citing Fitch as saying UK most at risk of losing AAA status among major economies, says Sydney-based RBC Capital Markets FX strategist Sue Trinh; acknowledges there's risk of a headfake - where currency takes off in one direction but then reverses in few hours to head in opposite direction - but adds something feels bit different this time vs when S&P placed UK on "negative outlook" back in May. "Having tested range lows in the U.S. dollar,...
this Fitch news is 2 weeks old !!!!

look like CIT almost went bankrupt news .. but they filed for chapter 11 and will restructure as something else .... that was 1 week ago and look where stock markets are now !!!
Blogging daily now at www.volume.zone
  • #181,950
  • Nov 9, 2009 11:33pm Nov 9, 2009 11:33pm
wow look at all those sellers ...lol

1.7000 here we come ...same vol friday on bad news .. 300 pip up move . There could be heavy accumulation of gu going on .. means only one thing dx breaks 75 in coming days

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  • #181,951
  • Nov 9, 2009 11:42pm Nov 9, 2009 11:42pm
http://www.marketwatch.com/story/bar...-54-2009-11-10

that is the reason for move ... just came out
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  • #181,952
  • Nov 9, 2009 11:44pm Nov 9, 2009 11:44pm
Hmm. too many predictions.. some people follow the trend to the upward while other trying to predict the top of this movement. Yes this up move is very tiring. 1.7? perhaps. who knows. I tried to pick my top around 1.6900 and max 1.7 yesterday. but it did not manage to get there. so i short @ 1.6799. If this was a fake move, then my sl @ BE. or else, i will hold this thing until the seller steam is gone. The reason i sell @ 1.6799 is guessing really. twice it get there and the steam was gone. then i sell. with a tight sl 50 pips. good luck people..
  • #181,953
  • Nov 9, 2009 11:55pm Nov 9, 2009 11:55pm
I am interested in seeing how both London and New York opens react to all of this. Let's see what kind of candle closes after today

Z
I have no biases. I just trade what the charts tell me.
  • #181,954
  • Nov 9, 2009 11:59pm Nov 9, 2009 11:59pm
Quoting malcolmb14
http://www.marketwatch.com/story/bar...-54-2009-11-10

that is the reason for move ... just came out
well now market have to supports until it won't break it can't go more down but there is possibility that if it breaks that so max it can go till 1.6450 and can rebound from there otherwise next target will be 6280..main supports are: 1.6480 and then 1.6350 ..check my chart if market won't break those red lines and move in same pattern so it could test again 1.7xx but i am feeling that it will break and will test supports and then will go up to test it but if it break 6450 so it could go 62xx and then 59xx once again let see what happens

Ub
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  • #181,955
  • Nov 9, 2009 11:59pm Nov 9, 2009 11:59pm
Quoting raz
I would slightly disagree... with the bank holiday following it(being the upcoming US Session), I can not forsee much volume or action. I know a lot of bank associates are taking vacation pay right now and taking thursday+friday off. Will be interesting.


Good Gold.... Looks like we in for so Dollar catching...
  • #181,956
  • Nov 10, 2009 12:00am Nov 10, 2009 12:00am
Just been tinkering with 1hr sessions there is a support trend running through which may have meant that the correction was inevitable! Or maybe I'm totally wrong
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  • #181,957
  • Nov 10, 2009 12:18am Nov 10, 2009 12:18am
Quoting GodfreyH
The market profile indicator generally does a good job of finding targets / contract volume points of control.

However I've found that price being above the previous day's point of control is not a very reliable indicator that price will rise the next day. Price action around the point of control is needed to establish short term (i.e. a few hours) intra-day direction. The drop a short while ago is a case in point.

Next point of control is 1.6513, but we may very well bounce from the current point. we'll see how PA plays out.
Hi Godfrey, like your indicator. Do you mind explaining the settings? Not sure if the start date should be reset to the beginning of each month. Also do you have the count profile set to 6?
  • #181,958
  • Nov 10, 2009 12:21am Nov 10, 2009 12:21am
Hi guys,

Fitch Ratings declared yesterday Great Britain would be first occidental nation to have their credit notation degraded....fish and chips for everyone in London......so guys you know what to do in coming weeks.....DOWN DOWN......who said 1,53 was impossible....

Just a word for those who keep fighting like schoolyard children about TF....JUST SHUT UP OR GO PLAY ELSEWHERE......

Thanks
Non licet omnibus adire Corinthum
  • #181,959
  • Nov 10, 2009 12:24am Nov 10, 2009 12:24am
We all have different opinions on where the market might take us next, especially in ranging periods like now. Personally I thing this is what distinguishes traders from each other. Myself still have difficulty with this but here is mine:

I think the Bulls is preparing to bow its head towards the Bear. And this time its not to pick a fight, but to give in...


Attached Image
  • #181,960
  • Nov 10, 2009 12:26am Nov 10, 2009 12:26am
Although it was a low volume dump cause it could, it can do that get over it.

It moved to the short side on my system just I'll add, if you where in and short then thats more luck in this case than anything else.

How did all of your predictions and chart work over the weekend go ?? I'd bet not 1 of them predicted anything close to whats happened hey so it was ?? yep pointless.

So what makes you lot think with a market which can literally change direction on a whim and move near on 150pips inside of 20mins ish be tradeable using a 4H chart ??

Just got up but for me, loads of short ops near the 200ema on GU and EJ a nice short op from the 600sma.


Lifes easy when you react rather than predict!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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