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Cable Update (GBPUSD)

  • #188,861
  • Dec 22, 2009 5:29am Dec 22, 2009 5:29am
Quoting dil
Yep guys show me urs charts
Up and down at 1.5999 !
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I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #188,862
  • Dec 22, 2009 5:37am Dec 22, 2009 5:37am
bad news for usd , im think we going up
  • #188,863
  • Dec 22, 2009 5:37am Dec 22, 2009 5:37am
Quoting manize
Up and down at 1.5999 !

UK GDP not as bad as first thought. U.S. GDP not as good as expected.
Logic will tell us this should go up but Logic goes out the window end of year plus Wallstreet end of yesr book keeping!
  • #188,864
  • Dec 22, 2009 5:57am Dec 22, 2009 5:57am
it doesn't like to set under 1.60
  • #188,865
  • Dec 22, 2009 6:11am Dec 22, 2009 6:11am
Looks like we may be waiting for the housing news before getting a definite direction for the rest of the NY session.
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  • #188,866
  • Dec 22, 2009 6:22am Dec 22, 2009 6:22am
i'm long 1,6006 TP 1,6036 SL 1,5975
  • #188,867
  • Dec 22, 2009 6:25am Dec 22, 2009 6:25am
Possible topside target of 1.6130 ish...breach and hold of 1.6040 key...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #188,868
  • Dec 22, 2009 6:29am Dec 22, 2009 6:29am
My accident of a short position may be saved yet lol.
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  • #188,869
  • Dec 22, 2009 6:33am Dec 22, 2009 6:33am
How about this is marked up for one final drop pending 'expected' news...

I'm too coward to place a position, but hope that those that have, come out the other end with a little Christmas bonus.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #188,870
  • Dec 22, 2009 6:35am Dec 22, 2009 6:35am
Quoting GlobalMacro
The late drop in cable looks overstretched to me
There is a decent support here

I am buying here @ 1.6090
Mixed economic indicators today:
Slightly worse than expected GDP took cable to marginal lows
But the positive piece is that the current account deficit narrowed surprisingly

GDP seems to have been worked out so far


I Will Continue To Carry The Long Position For The Time Being...
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Hear the music before the song is over ...
  • #188,871
  • Dec 22, 2009 6:36am Dec 22, 2009 6:36am
Quoting dil
1.57 are you crazy ? 1.59 is max
its up to you...i'll already put my SL if anything go wrong...BTW i'm swing trader..
  • #188,872
  • Dec 22, 2009 6:38am Dec 22, 2009 6:38am
Quoting yorkie
i'm long 1,6006 TP 1,6036 SL 1,5975
Hello,

I think you will not see 1.6036 again this day,otherwise congragulation.

atheer1
atheer1
  • #188,873
  • Dec 22, 2009 6:38am Dec 22, 2009 6:38am
Quoting Magix
Possible topside target of 1.6130 ish...breach and hold of 1.6040 key...

magix looking forward for seeing u

happy Christmas to u and your family
need to see u after Christmas dont be late
  • #188,874
  • Dec 22, 2009 6:39am Dec 22, 2009 6:39am
Quoting 45Condor
How about this is marked up for one final drop pending 'expected' news...

I'm too coward to place a position, but hope that those that have, come out the other end with a little Christmas bonus.
Accidentally Sold when my intention was to Buy for a small scalp. Teach me for looking at the market before having my coffee . I think we may still have a move down left for this news but it really depends on how people are going to interpret it.

Good Luck all with positions!
  • #188,875
  • Dec 22, 2009 6:40am Dec 22, 2009 6:40am
Quoting egymedo
magix looking forward for seeing u

happy Christmas to u and your family
need to see u after Christmas dont be late
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #188,876
  • Dec 22, 2009 6:44am Dec 22, 2009 6:44am
Of course, it may be mark up and stay up until the markets open proper next year, and the dollar can surge... keep thinking of other traders' comments concerning the traditional strength of the dollar in the new year.

Pff, who knows. Say by the fire, coffee in hand, no position to worry about.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #188,877
  • Dec 22, 2009 6:46am Dec 22, 2009 6:46am
Quoting 45Condor
Of course, it may be mark up and stay up until the markets open proper next year, and the dollar can surge... keep thinking of other traders' comments concerning the traditional strength of the dollar in the new year.

Pff, who knows. Say by the fire, coffee in hand, no position to worry about.
When in doubt, sit it out!

I have taken the rest of the year off trading, but still like to look threw the charts.

Best of the season.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #188,878
  • Dec 22, 2009 6:48am Dec 22, 2009 6:48am
Exactly, Magix.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #188,879
  • Dec 22, 2009 6:50am Dec 22, 2009 6:50am
While planning the exits from my short positions, I looked at the weekly chart with a longer term view (chart with horizontal white lines) than the current downtrend we are now in (chart with red channel lines). I see the probability that downward move is going to hit solid support at about 1.5800.

Should price action and volume prove this be true I will close out my short trades at or about 1.5800. I will either switch to range trading or stand aside awaiting proof (historically that has taken weeks) that price is turning around and heading back toward the 1.6800 resistance area or breaking through support and heading lower. I will join whichever trend shows up.

Given the current time of year, where price is positioned on the chart and the neutralizing news, I suspect that price will move sideways until there is room to drop lower in the channel.

I am remaining short unless volume adds new evidence that there is a price climax.

Be safe,
BR
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  • #188,880
  • Dec 22, 2009 6:52am Dec 22, 2009 6:52am
Quoting yinbyungheon
1.57xx is the TP that im gona take...maybe from there i.ll start buying...
boom boom pow!!!
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