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Cable Update (GBPUSD)

  • #202,101
  • Feb 26, 2010 7:48am Feb 26, 2010 7:48am
Quoting Flo7
Good data - I am short - couldn't resist - !
going with the longer term trend is usually much better no matter what the news as was the case with gbp better than expected news earlier today , the usd news I am always a little careful with the equities markets and the usd have been oppisite of each other they go up and the dollar goes down , not always but for the most part that is how its been. Figuring out if it is going to be that way on what ever news is annc is the fun part
  • #202,102
  • Feb 26, 2010 7:53am Feb 26, 2010 7:53am
Quoting Pyramus
I'm slowly building longs @ 1.5190 anticipating a big pullback if not today likely next week.
  • #202,103
  • Feb 26, 2010 7:54am Feb 26, 2010 7:54am
Quoting digger1
going with the longer term trend is usually much better no matter what the news as was the case with gbp better than expected news earlier today , the usd news I am always a little careful with the equities markets and the usd have been oppisite of each other they go up and the dollar goes down , not always but for the most part that is how its been. Figuring out if it is going to be that way on what ever news is annc is the fun part
Same here this is what i also observe good news for US may also trigger higher activity for the USD rather than holding it.
  • #202,104
  • Feb 26, 2010 7:57am Feb 26, 2010 7:57am
200 pip bull trap is being prepared before the main news
  • #202,105
  • Feb 26, 2010 8:01am Feb 26, 2010 8:01am
Im thinking Dow should go into bullish direction at open bcuz of better than expected GDP data, thereby increasing inventory of dollars and so sending GU higher... or will it send GBP lower bcuz of UK weakness and investors heading toward dollar strength ?
What do you guys think ?
  • #202,106
  • Feb 26, 2010 8:03am Feb 26, 2010 8:03am
Quoting joemiami
Im thinking Dow should go into bullish direction at open bcuz of better than expected GDP data, thereby increasing inventory of dollars and so sending GU higher... or will it send GBP lower bcuz of UK weakness?
What do you guys think ?
UK weakness is big on the agenda! But with the market you never know - it does his own thing!
  • #202,107
  • Feb 26, 2010 8:03am Feb 26, 2010 8:03am
Fibonacci Extension predicted 1.5180 target very well, and it looks like next stop will be 1.5145.

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  • #202,108
  • Feb 26, 2010 8:06am Feb 26, 2010 8:06am
Quoting joemiami
Im thinking Dow should go into bullish direction at open bcuz of better than expected GDP data, thereby increasing inventory of dollars and so sending GU higher... or will it send GBP lower bcuz of UK weakness and investors heading toward dollar strength ?
What do you guys think ?
Yes Ive assumed that before that the good news will drive equities up and thus pick up EU and GU and the opposite happened. So I dont know...judging by the way GU is behaving, the downward pressure is very strong still.
  • #202,109
  • Feb 26, 2010 8:09am Feb 26, 2010 8:09am
Hold short, looks like spike at 1.5199 --> failure support ! I hope goes to S1 1.5144 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #202,110
  • Feb 26, 2010 8:10am Feb 26, 2010 8:10am
Quoting skiffx
Yes Ive assumed that before that the good news will drive equities up and thus pick up EU and GU and the opposite happened. So I dont know...judging by the way GU is behaving, the downward pressure is very strong still.
lol, its been beat up pretty good thats for sure
  • #202,111
  • Feb 26, 2010 8:11am Feb 26, 2010 8:11am
Quoting manize
Hold short, looks like spike at 1.5199 --> failure support ! I hope goes to S1 1.5144 !
Open a new one after GDP release - TP 1.5138 (S2)...
  • #202,112
  • Feb 26, 2010 8:13am Feb 26, 2010 8:13am
SL locked at 1.5210 ( +72 pips) !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #202,113
  • Feb 26, 2010 8:21am Feb 26, 2010 8:21am
New York got snowed in badly overnight, a lot of traders will be staying home, so thinner than usual liquidity is expected.
  • #202,114
  • Feb 26, 2010 8:23am Feb 26, 2010 8:23am
Quoting skiffx
New York got snowed in badly overnight, a lot of traders will be staying home, so thinner than usual liquidity is expected.
+12 PIPS - better than being burn at 3pm with more US news...
  • #202,115
  • Feb 26, 2010 8:24am Feb 26, 2010 8:24am
Quoting skiffx
New York got snowed in badly overnight, a lot of traders will be staying home, so thinner than usual liquidity is expected.

Interesting.

I hope GU can break this level and move down to 1.5150..however whenever I hope, it does the opposite so people load longs as I'm short with TP at 1.5150!

I'm gonna bookmark this post. Gut feeling this badboy is gonna nail my ass.
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  • #202,116
  • Feb 26, 2010 8:25am Feb 26, 2010 8:25am
Quoting PipSqueeze
Interesting.

I hope GU can break this level and move down to 1.5150..however whenever I hope, it does the opposite so people load longs as I'm short with TP at 1.5150!
I just closed mine - which I open at the GDP release + 12pips and before +54 - will wait for 330pm to see what happens...
  • #202,117
  • Feb 26, 2010 8:28am Feb 26, 2010 8:28am
Quoting Flo7
I just closed mine - which I open at the GDP release + 12pips and before +54 - will wait for 330pm to see what happens...
Wd, unfortunately I'm still in. SL at 1.5210 and TP at 1.5150. See?! GU climbing now! I should do the opposite to what I think, maybe I'd become a better trader?
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  • #202,118
  • Feb 26, 2010 8:31am Feb 26, 2010 8:31am
Quoting Flo7
I just closed mine - which I open at the GDP release + 12pips and before +54 - will wait for 330pm to see what happens...
ah flo you would have been safe till they got my stop anyway which they just got
  • #202,119
  • Feb 26, 2010 8:31am Feb 26, 2010 8:31am
Quoting PipSqueeze
Wd, unfortunately I'm still in. SL at 1.5210 and TP at 1.5150. See?! GU climbing now! I should do the opposite to what I think, maybe I'd become a better trader?
Why don't you close before the news?
  • #202,120
  • Feb 26, 2010 8:33am Feb 26, 2010 8:33am
Quoting digger1
ah flo you would have been safe till they got my stop anyway which they just got
Weldone!!
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