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Cable Update (GBPUSD)

  • #201,261
  • Feb 23, 2010 6:58am Feb 23, 2010 6:58am
Fib was 81, minus spread
Sorry

However with each broker being independent, I don't doubt that somewhere 81 printed.

Quoting javapips
GOOD??? my short @ 5578 even not been touch..., what broker give 5581?
  • #201,262
  • Feb 23, 2010 7:14am Feb 23, 2010 7:14am
Quoting Big1red9
Fib was 81, minus spread
Sorry

However with each broker being independent, I don't doubt that somewhere 81 printed.
sorry??? for what? nothing wrong with you...
have a good trade..


see you all....
I will be the number one Manager.
  • #201,263
  • Feb 23, 2010 7:14am Feb 23, 2010 7:14am
Quoting fxvoilaaa
beautiful formation on daily chart.
Yeah...
Attached Image (click to enlarge)
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Always looking the GREAT, never left GOOD Point...
  • #201,264
  • Feb 23, 2010 7:23am Feb 23, 2010 7:23am
For the confusion.

Quoting javapips
sorry??? for what? nothing wrong with you...
have a good trade..


see you all....
  • #201,265
  • Feb 23, 2010 7:24am Feb 23, 2010 7:24am
Quote
hemm...yes...,

(edit) forget something, are you 'in' BIGRed? @81 ? what broker?

No 81 never touched. I am with oanda and FXCM- 75 is the high it touched.

81 was the fib minus spread as bigred said.
  • #201,266
  • Feb 23, 2010 7:26am Feb 23, 2010 7:26am
this pull back 40 pips from day low seems strong enough sign for me to add some more Long..
  • #201,267
  • Feb 23, 2010 7:36am Feb 23, 2010 7:36am
Quoting Kijang Emas
this pull back 40 pips from day low seems strong enough sign for me to add some more Long..
Brave man
  • #201,268
  • Feb 23, 2010 7:42am Feb 23, 2010 7:42am
Quoting marbellafx
Brave man
i'm not brave nor clever enough to make some good trade like other senior here..

it just what i see on my chart..Long from 1.5420 just now ..
  • #201,269
  • Feb 23, 2010 7:43am Feb 23, 2010 7:43am
Quoting Kijang Emas
this pull back 40 pips from day low seems strong enough sign for me to add some more Long..
Hi KE, What is your decision based on?
  • #201,270
  • Feb 23, 2010 7:46am Feb 23, 2010 7:46am
Quoting forexchequer
Hi KE, What is your decision based on?
My Stoch TF15/30 just pass level 20 .. and some rejection on my fibo 23.6 (1.5411 )
  • #201,271
  • Feb 23, 2010 7:52am Feb 23, 2010 7:52am
info

BoE Governor Merving King has affirmed that UK recovery is on a healing process although the process is very fragile and the strength of the recovery very "uncertain".

Furthermore, King observed that Eurozone economic recovery has stalled, which weighs on UK exports, and according to King increases the chances for the Bank of England to extend its quantitative easing program, which was suspended earlier in February after having purchased a total of GBP200 billion worth of assets.
  • #201,272
  • Feb 23, 2010 7:55am Feb 23, 2010 7:55am
Quoting forexchequer
Hi KE, What is your decision based on?
The pound has lost 180 pips this morning - surely there will be a retracement to the daily pivot which is 1.5476...
  • #201,273
  • Feb 23, 2010 7:55am Feb 23, 2010 7:55am
Quote
this pull back 40 pips from day low seems strong enough sign for me to add some more Long..

Dont take counter trend trade for small pips here and there. Ride the big trend which is downturn.

At a certain level, fresh selling will come in the market later in the day or tommorow.

What we have witnessed was europe selling. US and asian selling is still to come.
  • #201,274
  • Feb 23, 2010 7:59am Feb 23, 2010 7:59am
1.5450-1.5460 is sell zone this movement to north is just a bearish flag
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  • #201,275
  • Feb 23, 2010 8:00am Feb 23, 2010 8:00am
Quoting Flo7
The pound has lost 180 pips this morning - surely there will be a retracement to the daily pivot which is 1.5476...
Doesent have to do anything lol, possibility of some stiff resistence at 1.5452 area before your daily pivot area as this was support yesterday
  • #201,276
  • Feb 23, 2010 8:00am Feb 23, 2010 8:00am
Quote
The pound has lost 180 pips this morning - surely there will be a retracement to the daily pivot which is 1.5476...http://cdn.forexfactory.com/images/s...m/confused.gif

If every trader follows pivot, then we can say with reasonable surety that every body is long till 1.5476. But the problem is every trader does not follow pivots.

A long here is a counter trend trade which is always risky.

The current pull back is more of short covering from traders who sold at 1.5550 + levels to book profits.
  • #201,277
  • Feb 23, 2010 8:10am Feb 23, 2010 8:10am
There is strong support between the areas 1.5415 and and 5376
  • #201,278
  • Feb 23, 2010 8:14am Feb 23, 2010 8:14am
http://www.forexfactory.com/showthre...30#post3490130
Quoting kingfisher
If every trader follows pivot, then we can say with reasonable surety that every body is long till 1.5476. But the problem is every trader does not follow pivots.

A long here is a counter trend trade which is always risky.

The current pull back is more of short covering from traders who sold at 1.5550 + levels to book profits.
  • #201,279
  • Feb 23, 2010 8:35am Feb 23, 2010 8:35am
dunno wheter is just a bear flag, or some serious fight to climb up..

might see 1.5530 later..might go down from there or continue up..time will tell

i might be wrong
  • #201,280
  • Feb 23, 2010 8:36am Feb 23, 2010 8:36am
Could that bearish price action mark the end of the -180pip retracement?

If so, I might estimate that as having retraced 30% from Big1red9's target retracement (fib 50) of 1.5484.

Is that possible?

J
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