Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

#188,561
Dec 20, 2009 9:44pm Dec 20, 2009 9:44pm

MoForce
| Joined Jul 2007 | Status: BIG PIPIN' | 615 Posts

Long gbp/usd tp 1.64xx

#188,562
Dec 20, 2009 9:51pm Dec 20, 2009 9:51pm

kasooi
| Joined Dec 2009 | Status: Trader | 37 Posts

I think it is going to bounce off the resistance @ 1.6160 and head down.
Got 2 trendlines of resistance as well, the one going up from 1.6109 and the one going down from 1.6410.

#188,563
Dec 20, 2009 10:34pm Dec 20, 2009 10:34pm

qaisf
| Joined Dec 2009 | Status: Trader | 54 Posts

in short @ 1.6154... sl 1.6208

#188,564
Dec 20, 2009 11:15pm Dec 20, 2009 11:15pm

TheGabriel
| Joined May 2009 | Status: Want money, not necessarily skills | 1,113 Posts

Good Morning

no trades opened so far, waiting.

"Hate the sin, love the sinner." - Gandhi

#188,565
Dec 20, 2009 11:20pm Dec 20, 2009 11:20pm

FXTheOne
| Joined Dec 2009 | Status: Trader | 124 Posts

I can find some resistance levels at 6200, 6300 and even 6400. But i think it has exceeded .50 fibo already. Now it's time to go down...And if you have a look at FA, this theory seems to be bolster as well...Bias bearish imo. By the way, the market's fuking slow now T_T

#188,566
Dec 20, 2009 11:53pm Dec 20, 2009 11:53pm

atheer1
Joined Oct 2006 | Status: Trader | 4,056 Posts

Hello,

I am short at 1.6145 SL 1.6185 TP 1.6050.

atheer1

atheer1

#188,567
Dec 21, 2009 12:25am Dec 21, 2009 12:25am

earthsmate
| Joined Feb 2009 | Status: Trader | 158 Posts

I am wondering what happens normally. I meant do the markets become sluggish for all pairs ? Is it better to close off all positions and start again in the new year ?

Just want to get some idea

Thanks

PS: I personally think GBP would be in an uptrend soon looking at daily and weekly, but we warned it is of medium term so manage your cashflow well ....

{Promotion Removed}

#188,568
Dec 21, 2009 1:03am Dec 21, 2009 1:03am

FXTheOne
| Joined Dec 2009 | Status: Trader | 124 Posts

Quoting earthsmate

Disliked

PS: I personally think GBP would be in an uptrend soon looking at daily and weekly, but we warned it is of medium term so manage your cashflow well ....

Ignored

Just forget GBP, and don't even look at chart mate. It makes no sense at all. All about now is US's economic recovery and strengths of USD itself.

Dollar Trades Near 3-Month High on Recovery
http://www.bloomberg.com/apps/news?p...jymNy.sE&pos=1

Anyway, thanks for your warning. I think the same too. Seem that everyone don't wanna hold through holiday, maybe lots of them will close position which might cause little increase in Cable in short term

On 1hr tf, the triangle is squezzing. Watch out for a break-out. Good luck to all

#188,569
Dec 21, 2009 1:07am Dec 21, 2009 1:07am

earthsmate
| Joined Feb 2009 | Status: Trader | 158 Posts

Quoting FXTheOne

Disliked

Just forget GBP, and don't even look at chart mate. It makes no sense at all. All about now is US's economic recovery and strengths of USD itself.

Dollar Trades Near 3-Month High on Recovery
http://www.bloomberg.com/apps/news?p...jymNy.sE&pos=1

Anyway, thanks for your warning. I think the same too. Seem that everyone don't wanna hold through holiday, maybe lots of them will close position which might cause little increase in Cable in short term

On 1hr tf, the triangle is squezzing. Watch out for a break-out. Good...

Ignored

Thanks for the tip. I only have a small position. I think I would close and let the last two weeks to focus on something else, or relax :d

There is so much manipulation, so I am not sure if it is a true USD recovery. I think I just see my charts

.

Cheers

{Promotion Removed}

#188,570
Edited 1:28am Dec 21, 2009 1:17am | Edited 1:28am

TheGabriel
| Joined May 2009 | Status: Want money, not necessarily skills | 1,113 Posts

Still waiting for a sell signal as long term remains sell, very short term trend is quite bullish right now.

"Hate the sin, love the sinner." - Gandhi

#188,571
Dec 21, 2009 1:18am Dec 21, 2009 1:18am

kasooi
| Joined Dec 2009 | Status: Trader | 37 Posts

Seems that down movement was pretty shortlived, the 15min demark ind shows it is ready for an upwards movement, then it is probably gonna start ranging....
I closed my short for +25pips.

#188,572
Dec 21, 2009 2:09am Dec 21, 2009 2:09am

scurt
| Joined Jun 2009 | Status: Trader | 622 Posts

still short, on 1H TF trendline is now at the top of range...

#188,573
Dec 21, 2009 2:14am Dec 21, 2009 2:14am

atheer1
Joined Oct 2006 | Status: Trader | 4,056 Posts

hello,

It is better to stay out.

atheer1

atheer1

#188,574
Dec 21, 2009 2:17am Dec 21, 2009 2:17am

atheer1
Joined Oct 2006 | Status: Trader | 4,056 Posts

Hello,
Closed my short,and I will stay out for the rest of the day.

atheer1

atheer1

#188,575
Dec 21, 2009 2:25am Dec 21, 2009 2:25am

TheGabriel
| Joined May 2009 | Status: Want money, not necessarily skills | 1,113 Posts

Will continue bearish, the upmove got sold on the 1h candle at 7AM GMT.

"Hate the sin, love the sinner." - Gandhi

#188,576
Dec 21, 2009 2:26am Dec 21, 2009 2:26am

kasooi
| Joined Dec 2009 | Status: Trader | 37 Posts

Really abnormal day, usually by this time the volumes are above 700-800 but the last few bars were only around 450....
Wonder if its gonna be like this until after new years.

#188,577
Dec 21, 2009 2:50am Dec 21, 2009 2:50am

kasooi
| Joined Dec 2009 | Status: Trader | 37 Posts

Quoting TheGabriel

Disliked

Will continue bearish, the upmove got sold on the 1h candle at 7AM GMT.

Ignored

Hi, how far do you think it will move down in your opinion?

If it follows the trendline exactly, it will end up at around 6080, and judging from the speed of things today I'd say that is kind of hopeful if the market doesn't start moving soon....

Attached Image (click to enlarge)