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Cable Update (GBPUSD)

  • #196,861
  • Jan 29, 2010 2:31am Jan 29, 2010 2:31am
Well we hit the bottom of the channel on the 1Hr timeframe and I was sitting on my hands waiting for 115 to be hit to enter my long...now waiting for a hopefull 50% of the push up, its one that is likely to happen if I rush a late entry now, target would be the 240 area.
  • #196,862
  • Jan 29, 2010 2:34am Jan 29, 2010 2:34am
1.6175 is the key level, I hold long untill next H1 close/ open. Hold below it ---> close, but if hold above it, as usual will go more up at least 50 - 100 pips 1.6225 - 1.6275 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #196,863
  • Jan 29, 2010 2:35am Jan 29, 2010 2:35am
Quoting FXTheOne
I heard an Internal news that USD will has a big MOVE UP today. Before that Uncle Sam and the FED will press it a little bit down, to make it bounce stronglier. I don't know whether this news is exact or not, but it's worth considering. So fasten your seatbell, both side traders. I'm still stay aside and watch
Bullshit.
Thank You
  • #196,864
  • Jan 29, 2010 2:35am Jan 29, 2010 2:35am
Quoting antic81
Well we hit the bottom of the channel on the 1Hr timeframe and I was sitting on my hands waiting for 115 to be hit to enter my long...now waiting for a hopefull 50% of the push up, its one that is likely to happen if I rush a late entry now, target would be the 240 area.
same here. i had many chances to enter earlier but hesitated. i will wait for fibo retracement to enter long.
  • #196,865
  • Jan 29, 2010 2:37am Jan 29, 2010 2:37am
Quoting antic81
Well we hit the bottom of the channel on the 1Hr timeframe and I was sitting on my hands waiting for 115 to be hit to enter my long...now waiting for a hopefull 50% of the push up, its one that is likely to happen if I rush a late entry now, target would be the 240 area.
I'm hoping so/give me a reason to short most likely
  • #196,866
  • Jan 29, 2010 2:40am Jan 29, 2010 2:40am
Quoting antic81
I fear its going to be one of those moves that never really pulls back and I end up sitting on the side lines and watching all the potential pips go flying right past me!
Dont you just hate that!!!watching from the bench
  • #196,867
  • Jan 29, 2010 2:40am Jan 29, 2010 2:40am
Quoting Fly2
I'm hoping so/give me a reason to short most likely
The 240 area? or the 50%?
I'd be happy with a short around the 240 area.
  • #196,868
  • Jan 29, 2010 2:40am Jan 29, 2010 2:40am
Price goes up and down like a ping pong by looking at 4hr time frame. I guess it won't give a signal, at least for me, to trade this week. None taken from GU during the week.. sigh. well I caught a couple of pips for the month, so no worries
Attached Image (click to enlarge)
Click to Enlarge Name: pound sterling dollar channel .jpg Size: 99 KB
  • #196,869
  • Jan 29, 2010 2:42am Jan 29, 2010 2:42am
Quoting mwafrika
Dont you just hate that!!!watching from the bench

I was so close to entering at around 120...thought no, dont rush...haha!

Oh well never mind, always next time!
  • #196,870
  • Jan 29, 2010 2:42am Jan 29, 2010 2:42am
Quoting antic81
The 240 area? or the 50%?
I'd be happy with a short around the 240 area.
I was looking at around 229
  • #196,871
  • Jan 29, 2010 2:45am Jan 29, 2010 2:45am
may turn up here MAY at 53/I'm using Oanda chart so may be off 2 pips
  • #196,872
  • Jan 29, 2010 2:46am Jan 29, 2010 2:46am
Quoting manize
1.6175 is the key level, I hold long untill next H1 close/ open. Hold below it ---> close, but if hold above it, as usual will go more up at least 50 - 100 pips 1.6225 - 1.6275 !
What if it closes above next hour?
  • #196,873
  • Jan 29, 2010 2:48am Jan 29, 2010 2:48am
Quoting Fly2
I was looking at around 229
Ah yes I have that line too, good point mines the upper sloping resistance of the wedge we are in on the hourly, quite a bit to get through before hitting the 270's again, I get the sense that it was a false breakout to the north and may well get a nice short at around the 229 -240 area, nice tight stop in place...
  • #196,874
  • Jan 29, 2010 2:51am Jan 29, 2010 2:51am
I just entered at 150 on a Long, not quite the 50% but only about 4 pips off!
  • #196,875
  • Jan 29, 2010 2:54am Jan 29, 2010 2:54am
Quoting manize
1.6175 is the key level, I hold long untill next H1 close/ open. Hold below it ---> close, but if hold above it, as usual will go more up at least 50 - 100 pips 1.6225 - 1.6275 !
Hi Manize....agree with you analysis. I am long @ 1.6136.

Nice triple bottom @ 1.6107.

Cheers.
  • #196,876
  • Jan 29, 2010 2:55am Jan 29, 2010 2:55am
Quoting skiffx
What if it closes above next hour?
Just see the PA, to go long there will be risky because I maybe wrong in analysis. My analysis is just only to whom held long from the bottom !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #196,877
  • Jan 29, 2010 2:55am Jan 29, 2010 2:55am
Quoting antic81
Ah yes I have that line too, good point mines the upper sloping resistance of the wedge we are in on the hourly, quite a bit to get through before hitting the 270's again, I get the sense that it was a false breakout to the north and may well get a nice short at around the 229 -240 area, nice tight stop in place...
I jut see resist that haven' been tested between those areas you mention.Sellers are waiting at those points
  • #196,878
  • Jan 29, 2010 2:59am Jan 29, 2010 2:59am
Quoting wormboy
Bullshit.
I second the bullshit. BTW wormie, easy money. I wish we would stay in this channel forever. I hope the people in this forum listened to me over the past week when I said play the channel.
  • #196,879
  • Jan 29, 2010 3:00am Jan 29, 2010 3:00am
Quoting manize
Just see the PA, to go long there will be risky because I maybe wrong in analysis.
I am holding long from earlier as well. I do feel we are going to top of channel. TP's set there, but have trailing sl set just in case (protect the profits.
  • #196,880
  • Jan 29, 2010 3:00am Jan 29, 2010 3:00am
I really hope the 38Fib holds from the previous high, other wise I'm in deeeeeep *(^&*() , even if it can just momentary retrace to at least 1.614* ish
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