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Cable Update (GBPUSD)

  • #194,441
  • Jan 20, 2010 2:26am Jan 20, 2010 2:26am
Quoting Ctic
As of right now I would say no. Long term this is a downtrend in my opinion. Just because I said trade wall to wall you still have to watch other factors as it may not make it to a specific wall. Yesterday we had a real nice pinbar candle which means this should go back down. It actually bounced off the 38.2 fib lines for the daily chart and G/U pair likes the 38.2 as far as retracements. So I would look to continue the downtrend until the charts tell you differently.
still hold my sell from 1.6374 almost hit my tp at 38.2 fibo..will it go to 6242?
me still dono when to close just hold till back -ve pip
  • #194,442
  • Jan 20, 2010 2:27am Jan 20, 2010 2:27am
Quoting Pyramus
Looks like potential H&S with base at 1.6245 will be loading up longs now.
I would keep real tight SL's on those longs though.
  • #194,443
  • Jan 20, 2010 2:28am Jan 20, 2010 2:28am
Hi Ctic! look at the Fibo.. on the every TM.
All the dots are Parabolic
  • #194,444
  • Jan 20, 2010 2:29am Jan 20, 2010 2:29am
Quoting noob
still hold my sell from 1.6374 almost hit my tp at 38.2 fibo..will it go to 6242?
me still dono when to close just hold till back -ve pip

I think it will go down lower than that but we may see some retrace before it does. It is your decision to keep open or close but I closed mine waiting for retrace. Again, it depends on which timeframe you trade too so don't close a trade just because I or others closed. If your playing shorter tf's then you close sooner if your playing longer tf's.
  • #194,445
  • Jan 20, 2010 2:30am Jan 20, 2010 2:30am
Going to need some "go-go" juice to keep going south.

Attached Image (click to enlarge)
Click to Enlarge Name: gbp.png Size: 25 KB
It's Easy To Get In;.. It's Hard To Get Out
  • #194,446
  • Jan 20, 2010 2:30am Jan 20, 2010 2:30am
Quoting Ctic
Jemmy, I too closed my shorts, I am looking for a bit of a retrace during the London session before I enter back in.
..

we are waiting for retracement..
Patience + Discipline =
  • #194,447
  • Jan 20, 2010 2:32am Jan 20, 2010 2:32am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Petar,

Are we seeing almost 6200 or 68? Remember our chat from yesterday.

Buddy, this is just to remind you that systems don't work in swing trading. May be scalping. Hence, when GM sold his position yesterday. He knew what he was doing.

ta
ams


Quoting ams
Cool buddy so 63500 it is and "I do not want to see 62" before going to 68 as 1.68 will be there someday on cable
  • #194,448
  • Jan 20, 2010 2:32am Jan 20, 2010 2:32am
Quoting CasperTrader
http://fxtradeinfocenter.oanda.com/o...on_ratios_beta

While we are having this discussion, it is interesting to note that >61% are long EUR, >59% are long EUR/GBP and only <43% are long GBP.
the >61% are wrong. The masses are always wrong
I bet those >61% are either right now taken to the cleaners or taken for a ride short. If 6175 holds & eu will turn back up sharpish.

GU well what else can be said. The levels are pretty clear.
Chart:
1. http://www.forexfactory.com/showpost...postcount=3271
2. http://www.forexfactory.com/showpost...postcount=3298

I think those 59% who are long EG had declined. Hope it stays that way while I enjoy the ride up lol
Chart:
1. http://www.forexfactory.com/showpost...&postcount=191


Thank You
  • #194,449
  • Jan 20, 2010 2:37am Jan 20, 2010 2:37am
Quoting Jemmy
..

we are waiting for retracement..
I broke out my video game so I don't get tempted.
  • #194,450
  • Jan 20, 2010 2:39am Jan 20, 2010 2:39am
I'm thinking sub 1.60 in the next 2 weeks but maybe sooner.
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  • #194,451
  • Jan 20, 2010 2:42am Jan 20, 2010 2:42am
http://www.forexfactory.com/attachme...1&d=1263976901
  • #194,452
  • Jan 20, 2010 2:42am Jan 20, 2010 2:42am
Quoting Ctic
I think it will go down lower than that but we may see some retrace before it does. It is your decision to keep open or close but I closed mine waiting for retrace. Again, it depends on which timeframe you trade too so don't close a trade just because I or others closed. If your playing shorter tf's then you close sooner if your playing longer tf's.
thanks bro for the tips hope can learn more from all trader here.for now i just lock my +90 pip
  • #194,453
  • Jan 20, 2010 2:44am Jan 20, 2010 2:44am
As long as 1.6212 still holds i think this pair is still in an ending diagonal and is heading higher than 1.6455 towards 1.6510 to complete the diagonal. With the usd index set to retrace for today and tomorrow maybe. I am long at 1.6257 with stoploss at 1.62 targeting 1.641 followed by 1.651
  • #194,454
  • Jan 20, 2010 2:49am Jan 20, 2010 2:49am
Quoting chimex
As long as 1.6212 still holds i think this pair is still in an ending diagonal and is heading higher than 1.6455 towards 1.6510 to complete the diagonal. With the usd index set to retrace for today and tomorrow maybe. I am long at 1.625 with stoploss at 1.62 targeting 1.641 followed by 1.651
This is TM H1.
http://www.forexfactory.com/attachme...1&d=1263977290
  • #194,455
  • Jan 20, 2010 2:56am Jan 20, 2010 2:56am
This is TM H4.

http://www.forexfactory.com/attachme...1&d=1263977750
  • #194,456
  • Jan 20, 2010 2:56am Jan 20, 2010 2:56am
Quoting Ctic
Jemmy, I too closed my shorts, I am looking for a bit of a retrace during the London session before I enter back in.
Do you think 1.6340-1.6455 is realistic for a retracement?
  • #194,457
  • Jan 20, 2010 2:57am Jan 20, 2010 2:57am
Maybe this will help --> gu on daily, price at upper resistance fork line, showing a nice retracement off the line. Median line is near 57 to 5600, so IF we were to fall that far, expect a 570 to 670 pip drop. I'll probably take it short after we retrace on the 4hr, then hold till the end of Feburary.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 231 KB
  • #194,458
  • Jan 20, 2010 2:58am Jan 20, 2010 2:58am
where will she go?

Attached Image
Patience + Discipline =
  • #194,459
  • Jan 20, 2010 3:00am Jan 20, 2010 3:00am
i am short a little bit later but this one looks marvelous details for everybody on my blog
Attached Image (click to enlarge)
Click to Enlarge Name: gu1h.png Size: 27 KB
  • #194,460
  • Jan 20, 2010 3:00am Jan 20, 2010 3:00am
Quoting wormboy
the >61% are wrong. The masses are always wrong
I bet those >61% are either right now taken to the cleaners or taken for a ride short. If 6175 holds & eu will turn back up sharpish.

GU well what else can be said. The levels are pretty clear.
Chart:
1. http://www.forexfactory.com/showpost...postcount=3271
2. http://www.forexfactory.com/showpost...postcount=3298

I think those 59% who are long EG had declined. Hope it stays that way while I enjoy the ride up lol
Chart:
1. http://www.forexfactory.com/showpost...&postcount=191...
Thanks for your reply wormboy.

That's what I was trying to say. If the masses are wrong, could the majority of shorters for GU be wrong?

BTW, EG shows >61% now.

And yes, nice charts. I've started posted recently but have been watching the forum for couple of months and learnt a lot. I myself try to trade just with trendlines, market open/close prices and just one indicator RSI. Though I haven't prefected the skill to catch top/bottoms like you do.
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