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Cable Update (GBPUSD)

  • #183,201
  • Nov 16, 2009 2:40pm Nov 16, 2009 2:40pm
Quoting SwissKinseb
yes, is maybe too early, i feel me not comfortable on this trade

true 40 pip in profit better than nothing for sure
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  • #183,202
  • Nov 16, 2009 2:49pm Nov 16, 2009 2:49pm
Quoting malcolmb14
true 40 pip in profit better than nothing for sure
  • #183,203
  • Nov 16, 2009 2:50pm Nov 16, 2009 2:50pm
Quoting Turveyd
Got in long on that dip also not comfortable so you did the right thing, profit is profit and no one knows where it'll go over the next 20mins.


I'm betting on the direction continuing with a tight stop here, which is up!!
I think the Dollar needs a bit of a break at least from being battered.

Dunno if cable is the best carrier for this i prefer a long on usd/jpy
  • #183,204
  • Nov 16, 2009 2:55pm Nov 16, 2009 2:55pm
Quoting PipLand
I think the Dollar needs a bit of a break at least from being battered.

Dunno if cable is the best carrier for this i prefer a long on usd/jpy

SL's not far from break even so not really a worry, it'll liven up soon ish like 40mins from here I guess then we'll see.

No movement at all in some minutes slowest I've seen it even at this time, interesting.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #183,205
  • Nov 16, 2009 3:02pm Nov 16, 2009 3:02pm
Quoting Turveyd
SL's not far from break even so not really a worry, it'll liven up soon ish like 40mins from here I guess then we'll see.

No movement at all in some minutes slowest I've seen it even at this time, interesting.
cool, yeah we could go higher for sure but im thinking of a pullback to possibly 6740 first.

Waiting till the morning either way, good luck though
  • #183,206
  • Nov 16, 2009 3:04pm Nov 16, 2009 3:04pm
Quoting PipLand
cool, yeah we could go higher for sure but im thinking of a pullback to possibly 6740 first.

Waiting till the morning either way, good luck though

Bounce off my 600sma is typcial @1.6790 currently but hoping it'll get it's buyers back and get to 1.6850 or more over the next hour or so.

It's starting to loosen up atleast.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #183,207
  • Nov 16, 2009 3:33pm Nov 16, 2009 3:33pm
Quoting Turveyd
This is low volume upward manipulation going on here, only reason for doing so is they'll be selling soon.


I'm not complaining though, hope we can get back to a up trend proper for a good 50pips or so
what low volume? look at the futures
  • #183,208
  • Nov 16, 2009 3:36pm Nov 16, 2009 3:36pm
Quoting frito
what low volume? look at the futures

No access to that, REAL Volume is on my wish list to sort 1 day though.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #183,209
  • Nov 16, 2009 4:11pm Nov 16, 2009 4:11pm
Possible support ranges on continuation of long chart. Will still be expecting a pullback, but not so sure we will see it just yet.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #183,210
  • Nov 16, 2009 4:32pm Nov 16, 2009 4:32pm
I feel you are making a good point! But, we'll see as always when it comes...
Gold has shocked many!

Cable longs flat as of now. Active Fibre (yesterday) Dragon. Closed Aussie Dollar for 100 pips today, watching it closely with gold and USD.

Quoting PipLand
I think the Dollar needs a bit of a break at least from being battered.

Dunno if cable is the best carrier for this i prefer a long on usd/jpy
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #183,211
  • Nov 16, 2009 4:38pm Nov 16, 2009 4:38pm
Quoting malcolmb14
true 40 pip in profit better than nothing for sure
Yeah profit is profit no matter what. I was long last night and closed out this am in the 6720's. Wish i was hung over and woke around noon. But a winner is a winner. I had left no profit target as I saw a move to 6900 in the cards and did not want to miss outl. When the move was small and looked like the risk trade may be off booked it. on to the next set up. Even given the price action shortly after. If you hit 40 pips repeatedly it adds up nicely!
  • #183,212
  • Edited 5:38pm Nov 16, 2009 4:48pm | Edited 5:38pm
Sterling is very bullish.

gbplfx shows the inverted H&S formation could well take it towards 2.88
That happens cable could be headed towards 7400 levels. Daily inverted H&S looks valid as well. Will be buying dips only from here on unless proven otherwise.

Good luck
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Thank You
  • #183,213
  • Nov 16, 2009 5:16pm Nov 16, 2009 5:16pm
Quoting wormboy
Sterling is very bullish.

gbplfx shows the inverted H&S formation could well take it towards 2.88
That happens cable could well be headed towards 7400 levels. Daily inverted H&S looks valid as well. Will be buying dips only from here on unless proven otherwise.

Good luck

Sorry man, BETTING the Farm on GU Short

It is the trend currently, EJ Long is my current play waiting for a pull back on GU to get back in, already took profits on my previous long.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #183,214
  • Nov 16, 2009 6:11pm Nov 16, 2009 6:11pm
Quoting Turveyd
Sorry man, BETTING the Farm on GU Short

It is the trend currently, EJ Long is my current play waiting for a pull back on GU to get back in, already took profits on my previous long.
I can accept the bet , if you bet your wife not the farm

Of course it needs to correct, way over bought.
  • #183,215
  • Nov 16, 2009 6:15pm Nov 16, 2009 6:15pm
Quoting wormboy
Sterling is very bullish.

gbplfx shows the inverted H&S formation could well take it towards 2.88
That happens cable could be headed towards 7400 levels. Daily inverted H&S looks valid as well. Will be buying dips only from here on unless proven otherwise.

Good luck
Need 1 or 2 weekly candles here to begin the journey
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  • #183,216
  • Nov 16, 2009 6:30pm Nov 16, 2009 6:30pm
Quoting forexlion
I can accept the bet , if you bet your wife not the farm

Of course it needs to correct, way over bought.

I run on a strictly no returns basis and GU's just moved up 6pips ( okay it's down 30 or so from his post ) but I lose, when are you going to pick her up ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #183,217
  • Nov 16, 2009 6:54pm Nov 16, 2009 6:54pm
Quoting frito
what low volume? look at the futures
not sure what chart you looking at but both 6b and this chart showing no demand days

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  • #183,218
  • Nov 16, 2009 6:56pm Nov 16, 2009 6:56pm
Turveyd, you have not been riding the long train?

I tried to mention this a few times.... Now we are at a tough spot.

Bernanke / Obama, sunk the dollar today, DoW Exploded! Gold Hit new record high 1040.. Fibre offered up huge pips on news. Cable broke resistance.

Now the USD is trying to make a little bit of a comeback. We'll see how this pans out. Dow, may give back some points tomorrow and there may be shorts loading on Gold.

Thus, a thought may be to enter long after tomorow/LDN correction. Need to see a bit more panning out for definitive answer.

Chart - USDX / Cable overly + 10 / 50 / 100 MAs
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #183,219
  • Nov 16, 2009 6:59pm Nov 16, 2009 6:59pm
I'm short now, maybe you will say i'm crazy. LOL.. I am using a TL, plus looking at the PA around the TL, Confirmed. then i'm short. GOod luck..
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  • #183,220
  • Edited 7:24pm Nov 16, 2009 7:09pm | Edited 7:24pm
Watching USDX closely... Then considering long if 75.00 Holds as resistance.

This area "in my opinion" may be sufficient correction from the violent news "bernakabama" affect on USD! to hold and continue the downtrend...

After new high gold only has given back 2.80 so far...


edit: New thought... IF, 6800 holds as new support AND 75.00USDX is not sufficiently breached, hello 1.700! However, I am looking to further possible correction for long re-entry.

Watching closely, GOLD, USDX, DOW, Fibre..
* If any one can chime in on watching NIKKEI and Cable affect, please do! thX! *

Be careful... MANY have tried to short gold recently only to be met by a new record high. Hedge funds shorted stocks in anticipation of Bernank lunchtime speech.
Some may have come out ok, others most likely re-entered as the DOW continued to surge... LOL maybe they bought FIBRE!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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