Cable Update (GBPUSD) | Page 9789 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #195,761
  • Jan 25, 2010 4:14pm Jan 25, 2010 4:14pm
Global, nice trade. I posted a 1.61 entry last night in my journal but closed it prematurely

Anyway, to anyone interested here's a trade plan I came up with for a short GBP/USD play. My conditions are evident in my charts for the trade to be taken.

jack
  • #195,762
  • Jan 25, 2010 4:15pm Jan 25, 2010 4:15pm
Pound is back turning bearish in the hourly, after failing to break above the 1.6160 resistance area. Holding also above 1.6100/10 level, break under this last should favor more downside, and send the pair close to next support level around 1.6060/70. Under this last, pair should approach to 1.6020 area, where the pair still has a Sunday opening gap from a couple of weeks ago.

With 4 hours indicators bullish, yet with 20 SMA strongly bearish at that time frame, upside chances seem more limited, yet confirmations above 1.6170 today’s high, should send the pair to test the 1.6200 zone.
Don't tell me how much you can earn. Tell me how much you may lose..
  • #195,763
  • Jan 25, 2010 4:27pm Jan 25, 2010 4:27pm
Definately NOT a man........LOL

Quoting Shad
Man ...!?

  • #195,764
  • Jan 25, 2010 4:27pm Jan 25, 2010 4:27pm
Quoting EliteFX
Pound is back turning bearish in the hourly, after failing to break above the 1.6160 resistance area. Holding also above 1.6100/10 level, break under this last should favor more downside, and send the pair close to next support level around 1.6060/70. Under this last, pair should approach to 1.6020 area, where the pair still has a Sunday opening gap from a couple of weeks ago.

With 4 hours indicators bullish, yet with 20 SMA strongly bearish at that time frame, upside chances seem more limited, yet confirmations above 1.6170 today’s high, should...

I think what you copied and pasted from some website is now out of date.
  • #195,765
  • Jan 25, 2010 4:28pm Jan 25, 2010 4:28pm
Quoting sohail212
Thanks Dr. D. I will try your settings.

Thanks
Maybe your set-up is just fine for you.

As long as two distant ema's (like 50 and 200) are running in parallel
for a length of time and are not criss crossing, then we know all of
the ema's are in harmony and a good compression (or separation)
pattern is forming, developing or in place. I find that a larger selection
of ema's is easier to follow.

The old Daryl Guppy GMMA's principles stated that when the larger mma's
(he used a total of 6 spaced between 30 - 60) and the smaller mma's
(a total of 6 spaced between 3 - 15) are running in parallel, there is an
agreement in price existing between short term traders and long term
investors represented by the groups of mma's and the direction of the
movement remained. When they join would converge tightly together
there is too much agreement and no buying or selling and when they
move apart the buying or selling increase and at some point when they
became too separated there is no workable agreement on pricing and a
bubble appears that must surely collapse with price returning to some
equilibrium until back into agreement.

Others might describe this chart action in different ways such as more
buyer than sellers or vis versa or accumulation vs distribution.

Dr. D.
  • #195,766
  • Jan 25, 2010 4:32pm Jan 25, 2010 4:32pm
Quoting AndyPass
I think what you copied and pasted from some website is now out of date.
lol no kidding
  • #195,767
  • Jan 25, 2010 4:35pm Jan 25, 2010 4:35pm
Quoting GlobalMacro
Cable bounced off my entry point and steamrolled into mid 1.62s today confirming my Friday's bullish bias and creating bullish momentum in favor of the position


The long position is up 140 pips @ 1.6240


I Will Continue To Carry My Long Position Set @ 1.6100
Looks like the 200SMA on the daily is the next stop @ mid 1.63s
  • #195,768
  • Jan 25, 2010 5:09pm Jan 25, 2010 5:09pm
I just entered a short scalp based on being at the top on 4hr & 1 hr now for a lil while. Only shooting for 20 or so pips...
  • #195,769
  • Jan 25, 2010 5:09pm Jan 25, 2010 5:09pm
Quoting Bull_Bear
TP missed my 5pips, Close manually at 1.6130... +121pips

reverse buy 1.6130... SL.. 1.6070.. TP.. 1.6220
TP hit +90pips

Sell 1.6245 .. SL.. 1.6355.. TP.. 1.6055
Attached Image (click to enlarge)
Click to Enlarge Name: Cable.JPG Size: 109 KB
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #195,770
  • Jan 25, 2010 5:19pm Jan 25, 2010 5:19pm
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Quoting kill56
we did not break the range a break above the line will willtake the cable north other wise we still have some down time will tell

The indicator on the right of your chart looks interesting 'Buyers' & 'Sellers'.
Can you direct me to where to get this indi?
Being right is one, taking it from the table is two.
  • #195,771
  • Jan 25, 2010 5:29pm Jan 25, 2010 5:29pm
Quoting Bull_Bear
TP hit +90pips

Sell 1.6245 .. SL.. 1.6355.. TP.. 1.6055
Yeah, I actually got rid of my TP. Moved stop up a little and I'm gonna let this one run for a bit now. No more just a scalp. The chart that you posted is very similar to the one I'm using.

Donnie
  • #195,772
  • Edited 5:46pm Jan 25, 2010 5:31pm | Edited 5:46pm
Quoting ayman.fx
EUR/USD
Resistance 1.4161 1.4176 1.4192
Support 1.4145 1.4129 1.4113
Trend Down Trend
Sell Stop 1.4140 TP 1.4120

GBP/USD
Resistance 1.6255 1.6296 1.6336
Support 1.6214 1.6174 1.6133
Trend Up Trend
Buy Stop 1.6255 TP 1.6285

GBP/JPY
Resistance 146.69 147.00 147.31
Support 146.73 146.06 145.75
Trend Up Trend
Buy Stop 146.69 TP 147.00



gbp resistance in my way 1.62674 not 1.6255 .. check daily chart
THE CREATOR AND OWNER OF S.N.M "Serve no Master" Trading Stystem
  • #195,773
  • Jan 25, 2010 5:34pm Jan 25, 2010 5:34pm
We had a nice close above the daily 50 sma (albeit still below the 200 sma).

Personally I prefer a return to around the 50sma on the 1hr (around 1.617 ish) during the Asian session, with Europe taking it over 1.63.
  • #195,774
  • Jan 25, 2010 5:41pm Jan 25, 2010 5:41pm
Quoting ayman.fx
EUR/USD
Resistance 1.4161 1.4176 1.4192
Support 1.4145 1.4129 1.4113
Trend Down Trend
Sell Stop 1.4140 TP 1.4120

GBP/USD
Resistance 1.6255 1.6296 1.6336
Support 1.6214 1.6174 1.6133
Trend Up Trend
Buy Stop 1.6255 TP 1.6285

GBP/JPY
Resistance 146.69 147.00 147.31
Support 146.73 146.06 145.75
Trend Up Trend
Buy Stop 146.69 TP 147.00

Thank you Ayman. I have gbp order made. Eur pending.
  • #195,775
  • Jan 25, 2010 5:51pm Jan 25, 2010 5:51pm
Hello All,
6250 is a significant level I am looking at for cable first in the immediate as resistance. However, the same 6250 held as decent support on our last leg up to 6420 (next resistance) area.

Should we breach 6250 I will be looking further north. Extremely poor US home sales data release amongst some other data helped to add fuel to the fire today.

TP hit while at work, looking for entry.

Simple Chart attached to show levels.

GL to all
X-

edit: it seems my chart has been condensed? Even when I click on it - Need to try other resolution exports....

Supposed to show 6420 High then rejection.
Attached Image (click to enlarge)
Click to Enlarge Name: cable_6250_sr_50sma.gif Size: 32 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #195,776
  • Jan 25, 2010 6:09pm Jan 25, 2010 6:09pm
Quoting Shad
Man ...!?


hey man wutsup
  • #195,777
  • Jan 25, 2010 6:24pm Jan 25, 2010 6:24pm
Quoting Now
The indicator on the right of your chart looks interesting 'Buyers' & 'Sellers'.
Can you direct me to where to get this indi?
You'll get it on Forexlions thread. anchorfx.
  • #195,778
  • Jan 25, 2010 6:31pm Jan 25, 2010 6:31pm
Quoting Now
The indicator on the right of your chart looks interesting 'Buyers' & 'Sellers'.
Can you direct me to where to get this indi?

here u go
Attached File(s)
File Type: ex4 forexsignalszulutrade.ex4   9 KB | 270 downloads
  • #195,779
  • Edited 7:00pm Jan 25, 2010 6:34pm | Edited 7:00pm
Quoting Ctic
Dr. D and WB,

I am in agreement that we should have a good explosion next week. I do think in addition that we should get the bounce up that wormboy is talking about. From my channels, We bounced off the bottom wall of the weekly chart a month ago and appear to be on the way up. The 4H is at the bottom channel wall and should bounce up. However from the fibonacci point of view, the week ended just above the...
My position has still not changed from this initial analysis. Modified my TP's and SL. Am looking for short scalps as well, but long is still overall position until I go flat.

  • #195,780
  • Jan 25, 2010 7:56pm Jan 25, 2010 7:56pm
I am new and am short 1 mini @6261. I tried to post this entry about an hour ago, but the admin. has not yet deemed my post as worthy of posting. I don't use stops or indicators, altho I am well versed in their use. I only look at Price Action. I hope this makes it onto the Forum.
740 traders viewing now, 1 is registered:
CrazyTrades