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Cable Update (GBPUSD)

  • #188,141
  • Dec 17, 2009 11:01am Dec 17, 2009 11:01am
Quoting cphcphcph
failed to break S3(1.6145), haven't take any position yet.
If i cant go up, then down.
that's my thought as well now see 6110 at least
  • #188,142
  • Dec 17, 2009 11:24am Dec 17, 2009 11:24am
Cable has just been travelling up to resistance at 1.6148, in the same direction as the Swissie (USD/CHF), whilst the E/U was moving south.

As this is opposite to the usual run of things I would say that cable is showing reluctance to heading back south, and could prove interesting should 1.6148 be broken.
  • #188,143
  • Dec 17, 2009 11:48am Dec 17, 2009 11:48am
Beware of false prophets who tell you sell or buy without cogent analysis to back their claims! Trade what u see not what u hear!!!!!!!!
SCARED MONEY NEVER DOES GOOD IN FOREX
  • #188,144
  • Dec 17, 2009 11:55am Dec 17, 2009 11:55am
Quoting nek17
that's my thought as well now see 6110 at least
Based on what????
  • #188,145
  • Dec 17, 2009 11:59am Dec 17, 2009 11:59am
Quoting meromar
When every1 is afraid its time to buy
First goal 1.6320 second goal 1.6475
You might be right, though I think there is some more downside to come. I would rather short the rally(with the trend), than buy the retrace..

I wouldnt be surprised to see 1.6260 before another leg down..
  • #188,146
  • Dec 17, 2009 12:04pm Dec 17, 2009 12:04pm
Quoting omiunu
Beware of false prophets who tell you sell or buy without cogent analysis to back their claims! Trade what u see not what u hear!!!!!!!!
False prophets = negative profits
  • #188,147
  • Dec 17, 2009 12:12pm Dec 17, 2009 12:12pm
Good thing I was setting on the sidelines since we broke the 23.6 fib before the London session opened.

Wow would have a been a bad day to be long

GL all
  • #188,148
  • Dec 17, 2009 12:27pm Dec 17, 2009 12:27pm
Quoting maxss280
Good thing I was setting on the sidelines since we broke the 23.6 fib before the London session opened.

Wow would have a been a bad day to be long

GL all
look at gold price - slaughtered

all the conspiracists and and nutty professors and red necks lost their ammunition money

how can Obama money be credible ? It is though.

excellent stuff... politics and trading don't mix
  • #188,149
  • Dec 17, 2009 1:08pm Dec 17, 2009 1:08pm
nice upmove for GU all the way to 6180, me thinks it's a good place to add extra short
  • #188,150
  • Dec 17, 2009 1:13pm Dec 17, 2009 1:13pm
I remind myself a good lesson today.. when you have a good entry point dont look a 5min chart it will make you freak out.

I was long at 6107 this morning and closed because of the ramdom price action on the 5mn

If I would stick to my projection base on the 1hr chart I would still be in my long with a 80pip gain already

It Happen to me all the time As soon as I look at 5min I scrap my trade.

So I take this as a reminder.
  • #188,151
  • Dec 17, 2009 1:14pm Dec 17, 2009 1:14pm
:danyone else agree with clouds?
Say, “He Is Allah, [Who Is] One, Allah, the Eternal Refuge.
  • #188,152
  • Dec 17, 2009 1:16pm Dec 17, 2009 1:16pm
Quoting Hell7
For those that use picthforks, a very basic daily chart can be found here
This red fork, which I posted for the first time on Aug 17! is still working. You just have to love that
Attached Image (click to enlarge)
Click to Enlarge Name: 20091217gbpD.gif Size: 31 KB
  • #188,153
  • Dec 17, 2009 1:17pm Dec 17, 2009 1:17pm
Quoting forex baraka
:danyone else agree with clouds?
Not me on the 4hr it look pretty strong for an up move from the weekly support
on the daily we are sitting on the 61 fib retracement
  • #188,154
  • Dec 17, 2009 1:19pm Dec 17, 2009 1:19pm
Any take on gu forex lion?
Say, “He Is Allah, [Who Is] One, Allah, the Eternal Refuge.
  • #188,155
  • Dec 17, 2009 1:23pm Dec 17, 2009 1:23pm
Allserene, any takes on gu?
Say, “He Is Allah, [Who Is] One, Allah, the Eternal Refuge.
  • #188,156
  • Dec 17, 2009 1:30pm Dec 17, 2009 1:30pm
even better lesson trade with the trend ....

I bet more traders have lost coutner trend trading than waiting for a retrace and trading with the trend

Quoting Lejumeau
I remind myself a good lesson today.. when you have a good entry point dont look a 5min chart it will make you freak out.

I was long at 6107 this morning and closed because of the ramdom price action on the 5mn

If I would stick to my projection base on the 1hr chart I would still be in my long with a 80pip gain already

It Happen to me all the time As soon as I look at 5min I scrap my trade.

So I take this as a reminder.
Blogging daily now at www.volume.zone
  • #188,157
  • Dec 17, 2009 1:46pm Dec 17, 2009 1:46pm
Quoting ukdaytrader
.....of caution. 90% of the time, sudden sharp moves triggered by news are completely retraced. Ordinarily, I would start building small longs from here, but not during low liquidity.

I did build some shorts on GU which I closed a bit too early, but further downside before Xmas is not a given.
Well, GY retraced 100% of this morning's news related move. GU looks set to do the same. I am starting to build small short positions and will add bigger if we get to 6230. Am flat on GY as Dollar strength might cause sideways movement. Euro and Sterling still look weak.
  • #188,158
  • Dec 17, 2009 3:50pm Dec 17, 2009 3:50pm
Quoting ukdaytrader
Well, GY retraced 100% of this morning's news related move. GU looks set to do the same. I am starting to build small short positions and will add bigger if we get to 6230. Am flat on GY as Dollar strength might cause sideways movement. Euro and Sterling still look weak.

there is a 5 wave structure on gu ...1.6180 was exact wave 4 completion this hold the 300 pip down move of last night started in about 2.5 hours from now. We have already seen weakness in 30 min and 60 min charts and i am treating this as just a reatrce.

target based on symmetry of moves 1.5900

Attached Image (click to enlarge)
Click to Enlarge Name: chart04a.gif Size: 21 KB
Blogging daily now at www.volume.zone
  • #188,159
  • Dec 17, 2009 3:53pm Dec 17, 2009 3:53pm
Quoting malcolmb14
there is a 5 wave structure on gu ...1.6180 was exact wave 4 completion this hold the 300 pip down move of last night started in about 2.5 hours from now. We have already seen weakness in 30 min and 60 min charts and i am treating this as just a reatrce.

target based on symmetry of moves 1.5900

Attachment
Hi Malc

Would 6180/6220 be an ideal place to short?
  • #188,160
  • Dec 17, 2009 4:01pm Dec 17, 2009 4:01pm
Quoting geribosi
Hi Malc

Would 6180/6220 be an ideal place to short?

6180 to 6160 perfect spot...

retest of the resistance level daily.

and no i am not going to get into that agruement with Mgix once more... after i won it yesterday by 300 pip...lol
Blogging daily now at www.volume.zone
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