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Cable Update (GBPUSD)

  • #189,641
  • Dec 28, 2009 5:59pm Dec 28, 2009 5:59pm
Quoting dil
Yep now we just hanging on the edge all my indicators tell me about down movement
Chart posted few days back:
1. http://www.forexfactory.com/showpost...postcount=4125

Guess where price is right now lol. No doubt cable is trending downwards but under current market conditions, it's likely price will creep upwards before continuing to drop once market normalize.
Daily gbplfx had also stalled at significant a level. I reckon cable could possibly test 6100 level before any drop. Time will tell.

Btw, would like to see your indicators tell you about down movement if you dont mind. tia.
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Thank You
  • #189,642
  • Dec 28, 2009 6:12pm Dec 28, 2009 6:12pm
Quoting Petar_Serbia
My frined,

Tell me just one reason to go long on this condition ?


at first ... my S.L is @ 1.5900 not exactly but in this area

if it goes down and didnt break this area

it will boost upward


have a good trading day
THE CREATOR AND OWNER OF S.N.M "Serve no Master" Trading Stystem
  • #189,643
  • Dec 28, 2009 6:13pm Dec 28, 2009 6:13pm
Quoting dil
We will up or down in 2hours ~
I dont know now,just waiting to broke Darvas box,put Sl on other side of Box and enjoy
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"Buy on fear, sell on greed !!!
  • #189,644
  • Dec 28, 2009 6:15pm Dec 28, 2009 6:15pm
Quoting negro wolf


at first ... my S.L is @ 1.5900 not exactly but in this area

if it goes down and didnt break this area

it will boost upward


have a good trading day
Ok my friend but i think not good time to open any trade,lets waiting to broke HIgh or low and then will form good trend to took some pips...

Cheers
"Buy on fear, sell on greed !!!
  • #189,645
  • Dec 28, 2009 6:21pm Dec 28, 2009 6:21pm
We are on 1.6000 for all day now
  • #189,646
  • Dec 28, 2009 6:41pm Dec 28, 2009 6:41pm
These may prove to be of value. Tick charts "show" what is taking place differently. Helpful to me when activity drops off a cliff.

Originally I had planned to add to my existing short position at or about 1.6100, because my weekly/daily chart shows price to be in a down channel.

Because I don't think it has the energy to get there, will most likely add to my short position between now and 1.6050.

I am not a day-trader - and have open positions I need to or rather choose to manage.

Take care,
BR
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  • #189,647
  • Dec 28, 2009 6:59pm Dec 28, 2009 6:59pm
Quoting Big1red9
These may prove to be of value. Tick charts "show" what is taking place differently. Helpful to me when activity drops off a cliff.

Originally I had planned to add to my existing short position at or about 1.6100, because my weekly/daily chart shows price to be in a down channel.

Because I don't think it has the energy to get there, will most likely add to my short position between now and 1.6050.

I am not a day-trader - and have open positions I need to or rather choose to manage.

Take care,
BR
Though I will not disagree with the weekly trend, the shorter time frames are starting to show a little recovery to the long side. As we have gained support on the H4, 24SMA, we have 2 topside resistance to contend with if continued uptrend. 55EMA on the H4 and the 200EMA following, putting the resistance right at the daily resistance in the 1.620x area 24SMA.

We will need a lot of wind in the sails to get there given current movement, but I see these as being the next possible areas to give maximum range on a short side position.

As they are Moving averages, they are of course subject to change with the movement of the chart, including the sideways trading of the current chart, but would still wait until a true attack at resistance before I would consider a short in the middle of no mans land.

Granted, I know you are a longer term trader, this is just what my charts tell me, and going off of them, holding no position beats holding one at a loss in anybodies books. Of course, we have to get there first...heh.

*Shrugs Shoulders*

Just what I see, but, I am still only a speculating spectator until the New Year.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #189,648
  • Dec 28, 2009 7:04pm Dec 28, 2009 7:04pm
glance
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  • #189,649
  • Dec 28, 2009 7:09pm Dec 28, 2009 7:09pm
My Trading system tells me to sell between 1.6056 to 1.61
  • #189,650
  • Dec 28, 2009 7:23pm Dec 28, 2009 7:23pm
Hope it will be helpfull.
Facts from my system
Weekly S&R
Pivot: 1.6010
S1: 1.5858
S2: 1.5766
S3: 1.5614
R1: 1.6102
R2: 1.6254
R3: 1.6346
Demark High:1.6056
Demark Low: 1.5812
Daily S&R
Pivot: 1.5980
S1: 1.5948
S2: 1.5897
S3: 1.5865
R1: 1.6031
R2: 1.6063
R3: 1.6114
Demark High:1.6047
Demark Low: 1.5963
  • #189,651
  • Dec 28, 2009 7:35pm Dec 28, 2009 7:35pm
Quoting Baby-Trader
Hope it will be helpfull.
Facts from my system
Weekly S&R
Pivot: 1.6010
S1: 1.5858
S2: 1.5766
S3: 1.5614
R1: 1.6102
R2: 1.6254
R3: 1.6346
Demark High:1.6056
Demark Low: 1.5812
Daily S&R
[size=4]Pivot: 1.5980
S1: 1.5948
[size=2][color=red]S2:...
Thank you
  • #189,652
  • Dec 28, 2009 7:41pm Dec 28, 2009 7:41pm
Hei malc how ur holiday in ur private jet lol ? what u think about this situation
  • #189,653
  • Dec 28, 2009 7:43pm Dec 28, 2009 7:43pm
Magix,

Based on a daily - as bullish as I can get is a current sideways action in a downtrend channel. If I have a concern it is... price can move around like a hair-blower hitting a pile of feathers.

I am only trading because I already have positions in this short trade. I would not suggest that anyone initiate a new one. You almost need to make an appointment to see a trade.

Take care,
BR


Quoting Magix
Though I will not disagree with the weekly trend, the shorter time frames are starting to show a little recovery to the long side. As we have gained support on the H4, 24SMA, we have 2 topside resistance to contend with if continued uptrend. 55EMA on the H4 and the 200EMA following, putting the resistance right at the daily resistance in the 1.620x area 24SMA.

We will need a lot of wind in the sails to get there given current movement, but I see these as being the next possible areas to give maximum range on a short side position.

As they are...
  • #189,654
  • Dec 28, 2009 8:01pm Dec 28, 2009 8:01pm
Quoting dil
Hei malc how ur holiday in ur private jet lol ? what u think about this situation
My views on gu has not changed .....

we have not yet got above 6020 or even close to 6100.

Before any kind of up move we should test that low of 1.5750 . Then we can start talking of a decent retrace and that is only if 1.5750 holds. I see GBP was trashed talked in the Daily Telegraph today.

In 3 days gu touched 6020 once and got sold off immediately.

Here we are again ..... a few hours before GU news .. a move up on low volume into resistance. I bet Gu heads down tonight after the news into range low.
Blogging daily now at www.volume.zone
  • #189,655
  • Dec 28, 2009 8:20pm Dec 28, 2009 8:20pm
[quote=malcolmb14;3329400..

Here we are again ..... a few hours before GU news ...[/quote]a

Can u tell me when is the GU news? wat time GMT?
  • #189,656
  • Dec 28, 2009 8:29pm Dec 28, 2009 8:29pm
Quoting Honored
a

Can u tell me when is the GU news? wat time GMT?
http://www.forexfactory.com/calendar.php

you can set calender to your time.
Blogging daily now at www.volume.zone
  • #189,657
  • Dec 28, 2009 8:34pm Dec 28, 2009 8:34pm
Thinking about to take short at 1.5995
  • #189,658
  • Dec 28, 2009 8:37pm Dec 28, 2009 8:37pm
Quoting dil
Thinking about to take short at 1.5995
I just took one, thinking to close it at 1.5965
  • #189,659
  • Dec 28, 2009 8:42pm Dec 28, 2009 8:42pm
Quoting Honored
I just took one, thinking to close it at 1.5965

Me too now we cant get above 1.6000
  • #189,660
  • Dec 28, 2009 8:54pm Dec 28, 2009 8:54pm
BigRed what you think about situation ?
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