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Cable Update (GBPUSD)

  • #194,021
  • Jan 18, 2010 9:40pm Jan 18, 2010 9:40pm
Quoting Jassim
Its gonna go range bound until london time, and it might go higher later...I think the bullishness on Gu is stemming from th weakness of the Euro
i agree with you man.....
  • #194,022
  • Jan 18, 2010 9:45pm Jan 18, 2010 9:45pm
Conviction is bullish

holding long at 1.6344

looking for 1.6439
Trade Like a Robot make money Like a Bank
  • #194,023
  • Jan 18, 2010 10:10pm Jan 18, 2010 10:10pm
Quoting albchr
I was wondering if you could help me out here since I really don't know anything about fundies AKA (news).

1. How is it you know the news will be positive?

2. How/why will that effect the GBP to go up?

3. Why is it that at least so far today, the pound has gone up (overall) against your prediction of it going down?

Thanks for any help you could offer me...
First of all, you need to look at the news sites and FXCM does a really good job and pay attention to news revisions which will have a huge effect.

Second, the GBP forecast positive and if you look at trend and indicators (RSI, MACd, etc.) you can make an educated guess.

The currency is volatile and if you follow the reaction a lot of times they go down (getting rid of shorts, maybe profit taking) and then goes where the news is and here I believe it will go up.

I avoid this kinds of predictions since I am still a newbie. But I would recommend finding the trend, following the news (they usually have a pretty good forecast before it's realesed and many times they have the exact figure before the release), and look at the indicators.

If you have any questions let me know and good luck.
Yilmaz
  • #194,024
  • Jan 18, 2010 10:12pm Jan 18, 2010 10:12pm
Quoting bonus76
http://www.screencast.com/users/bonu...7-a8602b35d4d7


gu next possible pit stop 6300
My view is if down maximum goes 1.6354/78 then up again !
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I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #194,025
  • Jan 18, 2010 10:28pm Jan 18, 2010 10:28pm
Quoting manize
My view is if down maximum goes 1.6354/78 then up again !

I'm with you manize... (with a tight trailing stop).

I always like to see these EMA's compressed tightly on
an up move and the price drive right down thru the bunch.

We shall see soon.

Dr. D.
Attached Image
  • #194,026
  • Jan 18, 2010 10:34pm Jan 18, 2010 10:34pm
Quoting fourxtrader
I'm with you manize... (with a tight trailing stop).

I always like to see these EMA's compressed tightly on
an up move and the price drive right down thru the bunch.

We shall see soon.

Dr. D.
I have looked for a while on yout EMA's lines and i like how they look! What kind of Ema's numbers you use? Automatically i get 10, but what are all the lines parameter's?
Thanks
  • #194,027
  • Jan 18, 2010 10:35pm Jan 18, 2010 10:35pm
Quoting fourxtrader
I'm with you manize... (with a tight trailing stop).

I always like to see these EMA's compressed tightly on
an up move and the price drive right down thru the bunch.

We shall see soon.

Dr. D.
I will second that motion, We breached the high from yesterday's candle. That spot is right around the 100 fib line on the 1H chart and we have not hit the targets 161.8 yet for the daily. I am not saying that I would be shorting to that point either Since this is that strong upmove I have been stating since I called it back in December.
  • #194,028
  • Jan 18, 2010 10:53pm Jan 18, 2010 10:53pm
Quoting manize
Becarefull ! I am watching London session open to reconsider my plan ! Btw Good Luck !
Many Thanks Manis , i'll keep'an eye for it
Guide me please
  • #194,029
  • Jan 18, 2010 10:53pm Jan 18, 2010 10:53pm
Quoting fourxtrader
I'm with you manize... (with a tight trailing stop).

I always like to see these EMA's compressed tightly on
an up move and the price drive right down thru the bunch.

We shall see soon.

Dr. D.

Still waiting for the move down and the tight t stop is getting tighter.
Pattern breaking the other way.

Dr. D.
  • #194,030
  • Jan 18, 2010 11:02pm Jan 18, 2010 11:02pm
From my scoresheet:

Yesterday = bulls 5 : 2 bears
Today = bulls 6 : 1 bears

Conclusion:
bulls getting stronger.
I will only looking for long today.

Attached Image
Patience + Discipline =
  • #194,031
  • Jan 18, 2010 11:16pm Jan 18, 2010 11:16pm
Yesterday's post...

Quoting Bull_Bear
Missed TP by 17pips, closing sell trade manually at 1.6298 to reverse long.

Buy at 1.6298... SL.. 1.6180.. TP.. 1.6470

http://www.forexfactory.com/showpost...stcount=193784


For those of you that are thinking of shorting I'd wait don't be haste. Refer to link to see the reasoning.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #194,032
  • Jan 18, 2010 11:16pm Jan 18, 2010 11:16pm
Quoting fourxtrader
Still waiting for the move down and the tight t stop is getting tighter.
Pattern breaking the other way.

Dr. D.
Dr. D,

You may get that short but you will have to hold it until probably at least 1.6450 or 1.6475. The 15M chart breached above the 100 fib line and is moving up toward the 138.2 and 161.8 fib lines. I have long looking to get out at those levels before I consider short..
  • #194,033
  • Jan 18, 2010 11:18pm Jan 18, 2010 11:18pm
just a chart.
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  • #194,034
  • Jan 18, 2010 11:18pm Jan 18, 2010 11:18pm
I'm short minded right now, but i'm going to wait till momentum turns south. Price is already above 200sma on 4hr chart, so there is bull pressure imo.
  • #194,035
  • Jan 18, 2010 11:19pm Jan 18, 2010 11:19pm
Almost certainly there will be an "Inflation Letter", But, the market in general knows they won't be abl to act on it. So, we will enjoy "Stagflation" again...just like the 70's..

Quoting fourxtrader
Still waiting for the move down and the tight t stop is getting tighter.
Pattern breaking the other way.

Dr. D.
Ah Luv the smell of a good prediction in the mornin!
  • #194,036
  • Jan 18, 2010 11:24pm Jan 18, 2010 11:24pm
Quoting Ctic
Dr. D,

You may get that short but you will have to hold it until probably at least 1.6450 or 1.6475. The 15M chart breached above the 100 fib line and is moving up toward the 138.2 and 161.8 fib lines. I have long looking to get out at those levels before I consider short..
I'll bail at 1.6440.

Dr. D.
  • #194,037
  • Jan 18, 2010 11:27pm Jan 18, 2010 11:27pm
Quoting fourxtrader
Still waiting for the move down and the tight t stop is getting tighter.
Pattern breaking the other way.

Dr. D.
Dr. D,

A thing of beauty. Practically every EMA is at a Fibonacci line.
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  • #194,038
  • Jan 18, 2010 11:38pm Jan 18, 2010 11:38pm
Hi, i buy GBP at

EP @1.63438
TP @ 1.6500
SL @ EP Now

feel free to post any comment

regards
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Follow the rules and be successful.
  • #194,039
  • Jan 18, 2010 11:40pm Jan 18, 2010 11:40pm
Quoting .PeYmAn.
Hi, i buy GBP at

EP @1.63438
TP @ 1.6500
SL @ EP Now

feel free to post any comment

regards
Good trade.
  • #194,040
  • Jan 18, 2010 11:42pm Jan 18, 2010 11:42pm
Quoting Bull_Bear
Yesterday's post...




http://www.forexfactory.com/showpost...stcount=193784


For those of you that are thinking of shorting I'd wait don't be haste. Refer to link to see the reasoning.
the text in the chart says 6171
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