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Cable Update (GBPUSD)

  • #201,781
  • Feb 25, 2010 12:29am Feb 25, 2010 12:29am
Quoting Magix
Yeah...Im out.

Have fun with London!


enjoy bro take care its 8.25 am in here out waitng


Open TimeTypeSizeItem Price

Close Time Price
TaxesSwapProfit
2010.02.25 01:36sell0.10gbpusd1.5413

2010.02.25 08:211.5332
0.000.0081.00
2010.02.25 01:36sell0.10eurusd1.3543

2010.02.25 08:211.3467
0.000.0076.00
  • #201,782
  • Feb 25, 2010 12:32am Feb 25, 2010 12:32am
Still currently Short on the Cable @ 1.5391, up about 70 pips. I have now reduced my initial risk on the investment by 53.80%. Will continue to look for opportunities to reduce risk more over the next couple of days. Would like to see price hit its D extension from the last down wave which lines up with Support @ 1.5065.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-daily.jpg Size: 121 KB
  • #201,783
  • Feb 25, 2010 12:39am Feb 25, 2010 12:39am
Hehe I see there's pressure on the forums. From this alone, I can tell you that there's reversal coming.
  • #201,784
  • Feb 25, 2010 12:45am Feb 25, 2010 12:45am
Quoting jarnapal
Hehe I see there's pressure on the forums. From this alone, I can tell you that there's reversal coming.
I will stick to the charts...but good luck with this indi.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #201,785
  • Feb 25, 2010 1:08am Feb 25, 2010 1:08am
interval of drop getting shorter and shorter i smell reversal
  • #201,786
  • Feb 25, 2010 1:12am Feb 25, 2010 1:12am
Quoting Pyramus
interval of drop getting shorter and shorter i smell reversal
Reversal or cover trades back to 1.5382?

I'm off for nappy time but if we do start to go up here..watch for 200ema resistance on 5m chart.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #201,787
  • Feb 25, 2010 1:26am Feb 25, 2010 1:26am
Quoting Magix
Reversal or cover trades back to 1.5382?

I'm off for nappy time but if we do start to go up here..watch for 200ema resistance on 5m chart.
Both looking at my weekly chart we are in range of 50% fib from Aug 09 high of 1.7042 and Jan 09 low of 1.3514.
  • #201,788
  • Feb 25, 2010 1:30am Feb 25, 2010 1:30am
Maybe in the short term...

Attached Image (click to enlarge)
Click to Enlarge Name: gu daily.gif Size: 22 KB



Trade what you see not what you think


JD
It's Easy To Get In;.. It's Hard To Get Out
  • #201,789
  • Feb 25, 2010 1:36am Feb 25, 2010 1:36am
Quoting malcolmb14
check out weekly es ... if this is wave 3 forming say hello gu 1.4500

Attachment
Hi Malcolmb,
this is my target too

http://www.forexfactory.com/showpost...3&postcount=85
  • #201,790
  • Feb 25, 2010 1:37am Feb 25, 2010 1:37am
Quoting kill56
salam hi all

its nice to sleep and wake up on a nice large greeny pips

I had the surprise too
  • #201,791
  • Feb 25, 2010 1:42am Feb 25, 2010 1:42am
With the 50 at 1.5273, and my 1.618 extensions of the info I use at 1.5282, I'm saying shes goin down boy. Info always forms on a level. Why dont u guys work the fibs and basic trading methods anymore?

Also learning the wave trading, but only started
  • #201,792
  • Feb 25, 2010 1:45am Feb 25, 2010 1:45am
My calls that I posted before in FF

http://www.forexfactory.com/showthre...83#post3496583
  • #201,793
  • Feb 25, 2010 1:47am Feb 25, 2010 1:47am
Quoting Pyramus
interval of drop getting shorter and shorter i smell reversal
probably small pullback before king speaks.
looking at the charts however there is no reversal in sight yet.
Every single fall from the 19th of January which retraced 50% & broke the ensuing ltl followed with one new low after another. And since the last retrace, we broke the ltl & just had a new low this morning. Still is pointing down bigtime imho, unless the htf ie the h4 close a reversal pattern, which like the last time out did I don't see buying as a good option. Will continue selling for now.

Time will tell.
Attached Image (click to enlarge)
Click to Enlarge Name: guh4d.JPG Size: 76 KB
Thank You
  • #201,794
  • Feb 25, 2010 2:02am Feb 25, 2010 2:02am
Quoting wormboy
probably small pullback before king speaks.
looking at the charts however there is no reversal in sight yet.
Every single fall from the 19th of January which retraced 50% & broke the ensuing ltl followed with one new low after another. And since the last retrace, we broke the ltl & just had a new low this morning. Still is pointing down bigtime imho, unless the htf ie the h4 close a reversal pattern, which like the last time out did I don't see buying as a good option. Will continue selling for now.

Time will tell.
Very Good Chart Wormie,
I send that on 6 feb 2010
http://www.forexfactory.com/showthre...17#post3437617

and here is the update.
It seems she wants to retest the red trend line.
Attached Image (click to enlarge)
Click to Enlarge Name: guupdate.gif Size: 35 KB
  • #201,795
  • Feb 25, 2010 2:04am Feb 25, 2010 2:04am
Quoting Baby-Trader
Very Good Chart Wormie,
I send that on 6 feb 2010
http://www.forexfactory.com/showthre...17#post3437617

and here is the update.
It seems she wants to retest the red trend line.
and here the LTL has been broken
Attached Image (click to enlarge)
Click to Enlarge Name: guupdate2.gif Size: 27 KB
  • #201,796
  • Feb 25, 2010 2:05am Feb 25, 2010 2:05am
Quoting Baby-Trader
and here the LTL has been broken
but till now, the wedge hasn't broken yet
Attached Image (click to enlarge)
Click to Enlarge Name: wedge.gif Size: 43 KB
  • #201,797
  • Feb 25, 2010 2:06am Feb 25, 2010 2:06am
Quoting malcolmb14
I see all the bears are here now ... where were they in July of last year when I said by q2 this year GU 1.5300 ... or lower
Oh, come on, Mal.... You're a perma-bear on anything with an ounce of beta. Eventually, over a long enough time horizon, we will all be proved to be correct. Even being bullish on Greek debt will EVENTUALLY prove to be a prescient call......

For the record, I've been a bear on cable for a looonnngggg time, based on the awful structural problems with the UK's economy, but I take absolutely no credit now for being proved right, as so much else that has happened in the market during this time that has taken me by surprise.

A little more humility all round, don't you think?
  • #201,798
  • Feb 25, 2010 2:25am Feb 25, 2010 2:25am
Current Status,
We are below Daily S1 @1.5368 and below Demark low @1.5349 and setting on daily S2 @1.5330 right now.

Weekly S1 is @ 1.5261 and daily S3 is @1.5277
If we broke these to level today we will reach 1.5066 by tomorrow which is weekly s2

Let's see what will happen
  • #201,799
  • Feb 25, 2010 2:29am Feb 25, 2010 2:29am
again, if anyone thinks to go long for a retrace. don't expect that.
Tomorrow is the last friday of the month.
and from my experience with the market it is a sell day.
I say that to tell you be careful with longs.
  • #201,800
  • Feb 25, 2010 2:32am Feb 25, 2010 2:32am
Quoting Baby-Trader
again, if anyone thinks to go long for a retrace. don't expect that.
Tomorrow is the last friday of the month.
and from my experience with the market it is a sell day.
I say that to tell you be careful with longs.
I completely agree. I think price could drop to 1.5065 before we see a retrace.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-daily.jpg Size: 121 KB
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