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Cable Update (GBPUSD)

  • #187,001
  • Dec 10, 2009 8:08am Dec 10, 2009 8:08am
Went short for a quick scalp target 1.6212
  • #187,002
  • Dec 10, 2009 8:16am Dec 10, 2009 8:16am
Hi all - my first post on here although i have been reading and trading for a while.

I've been playing with cable for the past few days - i've had some ups and downs.........

Anyway the one thing that gives me some confidence in my current longs is the bounce off the 100 day EMA yesterday and today on my daily chart. Also when I look back to 13th October it did exactly the same and rallied on upwards 600 pips over the next 7 days. The 100 EMA seems to be pretty stong. Cable has also bounced from the 6180's several times over the past 2 months or so

Can anyone tell me if this is logical ???

Any comments appreciated
  • #187,003
  • Edited 8:41am Dec 10, 2009 8:16am | Edited 8:41am
long @ 6238

TP 6280

stop 6208

GL
  • #187,004
  • Dec 10, 2009 8:19am Dec 10, 2009 8:19am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Thanks mate, much appreciated!

PA bounced off the 61700 level twice creating double bottom on the 4hr chart (infact thrice). This had me thinking banks/brokers are making dodgy moves to the downside.

You might be right. Not that I've any doubt on your trades (never).

I see no one wants to buy cable, no dollar shorting either which leaves selling. Unless we see some news of uk company M&A . I do not see this guy climbing the mountain on it's own without it's buddy EU. Both will be bought at the same time.

I am in a Christmasy mood since last week. Had to many parties and still on the roll!

Taking bit easy this time.

Cheers
ams



Quoting GlobalMacro
Hi AMS,

It's just a matter of time before that support gives in to the pressure.

Nice job on your long trade, you got my "v" btw.

Enjoy
GM
  • #187,005
  • Dec 10, 2009 8:21am Dec 10, 2009 8:21am
Quoting sibajnok
I placed a buy position @6237.

If this attempt breaking to downside fails, I don't have to worry.

  • #187,006
  • Dec 10, 2009 8:24am Dec 10, 2009 8:24am
I wait for the next candle to go north


(the next hour candle)
  • #187,007
  • Dec 10, 2009 8:25am Dec 10, 2009 8:25am
my point of view
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  • #187,008
  • Dec 10, 2009 8:39am Dec 10, 2009 8:39am
accumulation phase
long @ 16270
still look a little longer to place the buy stop
  • #187,009
  • Dec 10, 2009 8:43am Dec 10, 2009 8:43am
if price open below 1.6225 we may see 1.6160 However is a safe for swing to sell below 1.635
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #187,010
  • Dec 10, 2009 8:56am Dec 10, 2009 8:56am
Quoting louisripley
Hi all - my first post on here although i have been reading and trading for a while.

I've been playing with cable for the past few days - i've had some ups and downs.........

Anyway the one thing that gives me some confidence in my current longs is the bounce off the 100 day EMA yesterday and today on my daily chart. Also when I look back to 13th October it did exactly the same and rallied on upwards 600 pips over the next 7 days. The 100 EMA seems to be pretty stong. Cable has also bounced from the 6180's several times over the past 2 months...
Sorry meant to say 200 day SMA not 100 EMA !
  • #187,011
  • Dec 10, 2009 9:00am Dec 10, 2009 9:00am
now, even 6260 become a pb for mr bull!
never run after pips, let pips just come to you
  • #187,012
  • Dec 10, 2009 9:00am Dec 10, 2009 9:00am
Quoting trabagwe
may i ask for a chart to help me understand why you would buy now
Attached Image(s) (click to enlarge)
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The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #187,013
  • Dec 10, 2009 9:07am Dec 10, 2009 9:07am
Quoting samdani786
Attached Image (click to enlarge)
Click to Enlarge Name: cable 6.gif Size: 15 KB
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #187,014
  • Dec 10, 2009 9:10am Dec 10, 2009 9:10am
Quoting atanabe
now, even 6260 become a pb for mr bull!
and 6220 a pb for mr bear....
  • #187,015
  • Dec 10, 2009 9:12am Dec 10, 2009 9:12am
my bias is long and am in two positions now
DM if you have any questions
  • #187,016
  • Dec 10, 2009 9:27am Dec 10, 2009 9:27am
Quoting ams
Thanks mate, much appreciated!

PA bounced off the 61700 level twice creating double bottom on the 4hr chart (infact thrice). This had me thinking banks/brokers are making dodgy moves to the downside.

You might be right. Not that I've any doubt on your trades (never).

I see no one wants to buy cable, no dollar shorting either which leaves selling. Unless we see some news of uk company M&A . I do not see this guy climbing the mountain on it's own without it's buddy EU. Both will be bought at the same time.

I am in a Christmasy mood since...
Don't mention it, my friend.

those three rebounds off support have cost them a lot in a negative sentiment environment since at least yesterday so the break should be so much more abrupt unless of course all of a sudden surprisingly good news pops up from somewhere.
As for Euro, that pair is in big trouble if Greece is left to her own devices then we'll see Ireland, Spain, Portugal etc. next on the line, and you know what it means for that funny so-called currency "Orue" (Oopss...I'm sorry I meant Euro...)...

Merry Christmas To You & Have A Wonderful Holiday Season!
Hear the music before the song is over ...
  • #187,017
  • Dec 10, 2009 9:40am Dec 10, 2009 9:40am
probably trying to test 16230
  • #187,018
  • Dec 10, 2009 9:45am Dec 10, 2009 9:45am
The failure of 16230 could result in a long sudden
  • #187,019
  • Dec 10, 2009 9:56am Dec 10, 2009 9:56am
Quoting trabagwe
just watch do not trade till you figure out what happen, don't fall in to the trap of trying to get it back all in one day
Thanks for the advice Trabagwe. I was getting a little too cocky for my own good.
  • #187,020
  • Dec 10, 2009 9:57am Dec 10, 2009 9:57am
Quoting Yngwie
if price open below 1.6225 we may see 1.6160 However is a safe for swing to sell below 1.635
If we get back to 1.635, I would think that the last thing you would want to do is take on a bearish position. That would cross us into Bull Country. From there, the sky is the limit.

Of course...We gotta get there first.

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