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Cable Update (GBPUSD)

  • #197,881
  • Feb 3, 2010 1:53am Feb 3, 2010 1:53am
Quoting skiffx
heh btw why TP@6075?

edit: Im thinking not to get overly greedy and TP around daily pivot r2
I am looking to take profit @ 1.6075 because that is where there is a level of resistance inside the last downswing fib. look at my chart @ the highlighted area, you'll see what i'm talking about. I will be moving my SL up some more to lock in more profit once this 4h candle closes... Will post an update once candle closes.
  • #197,882
  • Feb 3, 2010 2:01am Feb 3, 2010 2:01am
CABLE: Traders report that decent macro buying seen in recent trade but
rate seen taking a slight knock from rumours that Gatwick airport has
been evacuated (South terminal mentioned) but no confirmation for this
found so far. Rate trades around $1.6033, off recent rally extension
highs of $1.6059.
  • #197,883
  • Feb 3, 2010 2:08am Feb 3, 2010 2:08am
Quoting ams
Posted it 2 days ago and it seems exatly that's what is happening.

Long on GU since 59, target is 61xxx
closed scalp opened earlier from 586xx @ 59450 then opened again.


ta
ams

Same here aiming for 1.6075 first TP and next 1.61xx as well.
  • #197,884
  • Feb 3, 2010 2:08am Feb 3, 2010 2:08am
Still currently Long on the Cable from 1.5945. Price has pushed up higher with the open of Frankfurt. I have now once again moved my Stop Loss up to lock in more profit, currently @ +39 pips. Still looking for price to impact 1.6075 to close out my Long. Once this level is impacted I will look for price action to show me that sellers are coming into the market to continue the down trend. If this happens at that level of resistance, I will be looking for a possible short entry into the market.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-4h.jpg Size: 125 KB
  • #197,885
  • Feb 3, 2010 2:42am Feb 3, 2010 2:42am
Yesterdays post...

http://www.forexfactory.com/showpost...stcount=197621

Shorties, don't be tempted.....
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #197,886
  • Feb 3, 2010 2:47am Feb 3, 2010 2:47am
FXstreet.com (Barcelona) - The Pound is slowly regaining the upside after last Friday's sell-off and recovery from 1.5850 low on Monday has extended during Asian session with the Sterling breaking above 1.6000 to reach intra-week high at 1.6035 so far.

On the upside, the Pound might find resistance at 1.6075 (Jan 22 low), and above here, 1.6110/15 (Jan 27/28 low) and 1.6180 (Jan 29 high). On the downside, below 1.6000, next support levels could be at 1.5965/75 area (session low/Feb 1 high) and 1.5905 (Feb 2 low).
  • #197,887
  • Feb 3, 2010 3:03am Feb 3, 2010 3:03am
Well, the trend is down and we hope the price to go down. What I will like to ask now is that, Will the UK PMI coming impact the market? I am looking for possible shorts at 1.6075 and I am targeting 1.6000. What is your opinion about this?
  • #197,888
  • Feb 3, 2010 3:11am Feb 3, 2010 3:11am
NEWS TRADING
Wednesday February 3, 2010
[4:30am NY Time]
UK Services PMI BUY 58.6 SELL 54.6 GBP/USD
We will be focusing on the Services PMI figure today and our minimum
deviation is 2.0 from the forecast release figure. If we get at
least 58.6 or better, we could see some demand in the GBP and we
will consider BUYING GBP/USD or GBP/JPY pairs. If we get a 54.7 or
worse release, GBP could weaken and we should look to SELL GBP/USD
or GBP/JPY pairs.
Because PMI's are leading indicators and are likely to set the tone
for January 2010 for GBP, especially the Services PMI's as from UK
since UK's economy is 72% services based; therefore traders look at
this release for early direction in UK's economy. However, keep in
mind that the GBP is under pressure from a stronger USD and general
risk aversion sentiment, therefore my bias is towards selling GBP.
Definition:
"The Chartered Institute of Purchasing and Supply (CIPS) Services
Purchasing Manager's Index (PMI) measures the activity level of
purchasing managers in the services sector, with a reading above 50
indicating expansion. A rising trend has a positive effect on the
nation's currency. To produce the index, purchasing managers are
surveyed on a number of subjects including employment, production,
new orders, supplier deliveries, and inventories. Traders watch
these surveys closely because purchasing managers, by virtue of
their jobs, have
  • #197,889
  • Feb 3, 2010 3:15am Feb 3, 2010 3:15am
Quoting tundeakins
Well, the trend is down and we hope the price to go down. What I will like to ask now is that, Will the UK PMI coming impact the market? I am looking for possible shorts at 1.6075 and I am targeting 1.6000. What is your opinion about this?

Trend is up on 1hr and on 4hr-from 5849 bottom we have a LL,LH, HL and now a H above last LH of it's downtrend, thus putting that downtrend in some doubt. On Daily from that 6458 recent swing Hi, we have a H,HL,LH and a L @ 5849 so not the most convincing downtrend yet (ie only one x LH and no x LL yet,) and now 2 x bullish pinbar closes Tues/Weds ??

G/L
ex member
  • #197,890
  • Feb 3, 2010 3:18am Feb 3, 2010 3:18am
Quoting tundeakins
Well, the trend is down and we hope the price to go down. What I will like to ask now is that, Will the UK PMI coming impact the market? I am looking for possible shorts at 1.6075 and I am targeting 1.6000. What is your opinion about this?

if you want to sell..., sell it now buddy...whenever as you like....,maybe other people busy (or get headache too for their TP ) so they can't give any reply to you..., ..,who would you ask if all people here die..., be independent trader...




(if people give a cast out..., that must be for their fun that they should pay)
so happy trading...,
I will be the number one Manager.
  • #197,891
  • Feb 3, 2010 3:20am Feb 3, 2010 3:20am
Quoting javapips
Devil like triple '6' number....,and the nearest one is 1.6066, so GU will down at that level...,(sure by Devil).... hihihihi...,
Maybe in NEXT Day... Quartet '6' Number
Always looking the GREAT, never left GOOD Point...
  • #197,892
  • Feb 3, 2010 3:37am Feb 3, 2010 3:37am
Ahhh GU was marvelous today All that long way up and half of the massive fall. Bears don't get too happy yet, will go up from 6000 again
  • #197,893
  • Feb 3, 2010 3:37am Feb 3, 2010 3:37am
Quoting Bull_Bear
Yesterdays post...

http://www.forexfactory.com/showpost...stcount=197621

Shorties, don't be tempted.....
i'm already BB...,next time you should give early warning..., but that ok..., thank you...,
I will be the number one Manager.
  • #197,894
  • Feb 3, 2010 3:40am Feb 3, 2010 3:40am
The United Kingdom's service industry, which accounts for a major share of its economy, continues to suffer from the worst recession since WWII, according to the purchasing managers index for the service sector which, although staying in positive territory, slid downwards to its lowest mark in six months to 54.5 in January, down from 56.8 in December 2009.
  • #197,895
  • Feb 3, 2010 3:42am Feb 3, 2010 3:42am
Quoting Tsar
Maybe in NEXT Day... Quartet '6' Number
yes i sell in that level..with so confident and no doubt...,
I will be the number one Manager.
  • #197,896
  • Feb 3, 2010 3:44am Feb 3, 2010 3:44am
Anyone shorted the news?
I shorted from 36 (funny how before the news came out it dropped from 50 level)
  • #197,897
  • Feb 3, 2010 3:46am Feb 3, 2010 3:46am
Quoting kill56
salam bro

i think befor we go down that far we have to re vist 16060 and may be 16112 after that we are heading south for sure .

in the main time any close above 16240 where we are will be the lows of this year all the luck greeny pips for u bro

hi all here we go
  • #197,898
  • Feb 3, 2010 3:47am Feb 3, 2010 3:47am
Quoting javapips
yes i sell in that level..with so confident and no doubt...,

Good...

Be Carefully in Daily HIGH / 1.5992

or DOUBLE '6'
Always looking the GREAT, never left GOOD Point...
  • #197,899
  • Feb 3, 2010 3:50am Feb 3, 2010 3:50am
Quoting Tsar
Good...

Be Carefully in Daily HIGH / 1.5992

thank you...,
I will be the number one Manager.
  • #197,900
  • Feb 3, 2010 4:24am Feb 3, 2010 4:24am
Quoting Petar_Serbia
lost 40 pips , took buy going for 40 Cheers

Open price 1.5960 TP 1.6000 SL 1.5920
Morning guys,i took my 40 pips profit from yesterday ]



Cheers
"Buy on fear, sell on greed !!!
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