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Cable Update (GBPUSD)

  • #189,561
  • Dec 28, 2009 4:07am Dec 28, 2009 4:07am
Quoting KwAAkS
short @1.59850 SL 1.6050 TP 1.5940
good luck KwAAkS..

be careful at 5965..
Patience + Discipline =
  • #189,562
  • Dec 28, 2009 6:41am Dec 28, 2009 6:41am
Quoting omiunu
My broker (fxopen) just changed their spread on gbp/usd from 3 pips to 9 pips!!!! Be careful out there folks, these brokers are at it again
lol brokers are not up to anything ....these are weekend spreads and this is what happens in low liquidity times .. spreads widen . It is a risk of trading when there is no volume in the markets
Blogging daily now at www.volume.zone
  • #189,563
  • Dec 28, 2009 6:42am Dec 28, 2009 6:42am
Quoting dil
Breakout on gbp/usd 1.5985 moving to long ?
dil do yourself a favour .. close your computer down and come back in Jan 5th ... it will stop you from going insane trying to work out if we are breaking out or not
Blogging daily now at www.volume.zone
  • #189,564
  • Dec 28, 2009 6:47am Dec 28, 2009 6:47am
lets put this in perspective .... how can we get a break out when there is no volume in the market ? i see calls for moves up ...but so far all the volume has been on that test of supply 6020

right now we cannot really see or know what is going.

I am off for the week and back when market volumes are back to normal

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  • #189,565
  • Dec 28, 2009 6:56am Dec 28, 2009 6:56am
Quoting malcolmb14
lets put this in perspective .... how can we get a break out when there is no volume in the market ? i see calls for moves up ...but so far all the volume has been on that test of supply 6020

right now we cannot really see or know what is going.

I am off for the week and back when market volumes are back to normal

Attachment
True, but the direction is up anyway. We're going to test 1.623 and possibly 1.635 then we go down to resume downtrend IMO. We just need more sellers in.
"Hate the sin, love the sinner." - Gandhi
  • #189,566
  • Dec 28, 2009 7:04am Dec 28, 2009 7:04am
Remember we have tick volume not real money flow, so if they decide to keep the market in range as there are not enough sellers or buyers to move it they'll do so, I don't think Feds and market movers really withdraw all the liquidity because it's Christmas, there might just not be enough but it could still move a bit.
"Hate the sin, love the sinner." - Gandhi
  • #189,567
  • Dec 28, 2009 7:12am Dec 28, 2009 7:12am
Quoting TheGabriel
Remember we have tick volume not real money flow, so if they decide to keep the market in range as there are not enough sellers or buyers to move it they'll do so, I don't think Feds and market movers really withdraw all the liquidity because it's Christmas, there might just not be enough but it could still move a bit.
people that move the market will simply not be here because there no way to gauge sentiment..need to be carefull
  • #189,568
  • Dec 28, 2009 7:13am Dec 28, 2009 7:13am
.6125
1.6075
1.6025
1.5987 ïîñëåäíÿÿ öåíà
1.592
1.5845
1.5775

http://www.tradingcentral.com/chart/...1228112923.gif
  • #189,569
  • Dec 28, 2009 7:39am Dec 28, 2009 7:39am
Hi Everyone

What Do u think about this pic ?

it is looks like H&S , if Price break neck line in 5990~6010 1st target is 6100
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  • #189,570
  • Dec 28, 2009 7:41am Dec 28, 2009 7:41am
1.600 has just been broken again ....my profit target is waiting to be hit.
"Hate the sin, love the sinner." - Gandhi
  • #189,571
  • Dec 28, 2009 7:50am Dec 28, 2009 7:50am
yea its nice to see 1.6000 again
  • #189,572
  • Dec 28, 2009 7:52am Dec 28, 2009 7:52am
Quoting TheGabriel
1.600 has just been broken again ....my profit target is waiting to be hit.
just sold at 1.60
  • #189,573
  • Dec 28, 2009 7:54am Dec 28, 2009 7:54am
gabriel,

what will be a good entry point. i hav my shorts from last week at 1.598. do u think price will come back to tht level or the longs are gone rule
  • #189,574
  • Dec 28, 2009 7:55am Dec 28, 2009 7:55am
Quoting TheGabriel
1.600 has just been broken again ....my profit target is waiting to be hit.
Why are you so bullish G? What do you see that we do not! Maybe you can teach us?
  • #189,575
  • Dec 28, 2009 7:56am Dec 28, 2009 7:56am
Quoting Nomi1
gabriel,

what will be a good entry point. i hav my shorts from last week at 1.598. do u think price will come back to tht level or the longs are gone rule
Price might go back to that level, but I'm expecting it anyway to continue up to at least 1.611, i've bought at 1.59937.

I really can't tell how you should manage your position, that's up to your money management and exit/enter strategy.

Quoting saprasa
Why are you so bullish G? What do you see that we do not! Maybe you can teach us?
I see a long term downtrend market that has just found a strong support and market can't go only one direction, so you might sell the up move if you can find it's top or you can buy and exit when you see the up retracement has come to an end.

As posted on the daily charts pages ago EURUSD is still rising since then and might hit 1.45 and come down from there, AUDUSD still rising even with the good data US got last week.
"Hate the sin, love the sinner." - Gandhi
  • #189,576
  • Dec 28, 2009 7:56am Dec 28, 2009 7:56am
Eurusd

Sell : 1,4400
Sl : 1,4420
Tp : 1,4340
  • #189,577
  • Dec 28, 2009 8:13am Dec 28, 2009 8:13am
so u sayin cable will gain pips before finally heading down.
  • #189,578
  • Dec 28, 2009 8:16am Dec 28, 2009 8:16am
Quoting Nomi1
so u sayin cable will gain pips before finally heading down.
Yes IMO, pound could even make a double bottom (since the 2008 big fall, but this is just speculating), but as immediate trend i see it up....so sellers could get their profit and buyers aswell...it's all about the money management you have and how much you can hold your positions. 1.611 is my target, a close above it and i'm buying to 1.623
"Hate the sin, love the sinner." - Gandhi
  • #189,579
  • Edited 8:41am Dec 28, 2009 8:25am | Edited 8:41am
Quoting TheGabriel
True, but the direction is up anyway. We're going to test 1.623 and possibly 1.635 then we go down to resume downtrend IMO. We just need more sellers in.

did you even bother looking at your 4 hour chart ? i am not sure where you get direction is up from ... do not get married to this as it may bite you in the butt.

right now we are ranging 6020 to 15920 with the prevailing trend is down

those sellers at 6020 may cap this for now

I agree a retracement may be due but reality is the charts do not show one at this time. There is no volume in the market and price could go sideways like this for another few days before real volume comes back in the market next week . Then we will get a real flavour for the direction that GU will take.

If anything this sideways action is helping those indicators come out of the oversold levels

One thing is for sure .. direction is not up.....direction is ranging .. sideways. Now what I know about gu is she likes to go into these consolidation zones before next leg down in the prevailing trend. Go back and look in charts you will see it time and time again. In fact if the retracement does not come that you are mentioning into 6350 then there is strong chance that 5750 maybe broken as no retracement on gu would be very bearish for it. at least eu retraced 150 pip

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  • #189,580
  • Dec 28, 2009 8:29am Dec 28, 2009 8:29am
Quoting malcolmb14
did you even bother looking at your 4 hour chart ? i am not sure where you get direction is up from ... do not get married to this as it may bite you in the butt.

right now we are ranging 6020 to 15920 with the prevailing trend is down

I thought you were a better a trader than making way out there comments, I also thought you had a grasp of vsa,,,those sellers at 6020 may cap this for now.

I agree a retracement may be due but reality is the charts do not show one at this time. There is no volume in the market and price could go sideways like...

I'm not trading VSA malcomb, the indicator it's not even in my chart anymore.
I never marry a trade in fact what I'm seeing on my 4H are up candles and up indicators, i think those married are the sellers but it might payoff aswell. Lets wait and see if hits my up target or breaks the low, different traders different views, different mm, arguing is kinda useless.
"Hate the sin, love the sinner." - Gandhi
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