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Cable Update (GBPUSD)

  • #204,861
  • Mar 10, 2010 9:33am Mar 10, 2010 9:33am
Quoting kray_85
www.ecpulse.com

i would be rich now if i follow this prediction earlier..
Cable is going up agressively.. Does he sustain ?
  • #204,862
  • Mar 10, 2010 9:35am Mar 10, 2010 9:35am
Anyone taking any trades as of late? EU is pulling up, Equities are up, oil and gold pushing back up, but I dunno.
  • #204,863
  • Mar 10, 2010 9:40am Mar 10, 2010 9:40am
Quoting cprao
Cable is going up agressively.. Does he sustain ?
and back down again. Seems to be range bound at the moment between 20-60 only providing scalping opportunities. GL!
  • #204,864
  • Mar 10, 2010 9:44am Mar 10, 2010 9:44am
Looks like its having trouble staying above that Feb Ext level:

H4:
Attached Image (click to enlarge)
Click to Enlarge Name: eg march 10 h4 resis.gif Size: 55 KB


H1:
Attached Image (click to enlarge)
Click to Enlarge Name: eg march 10 h1 resis.gif Size: 59 KB
  • #204,865
  • Mar 10, 2010 9:47am Mar 10, 2010 9:47am
yes, if someone is working very short time frames with big leverage then it must be scary...

The hourly shows the trend still firmly down

Think I am almost ready for a small short but it's not screaming at me as the daily is showing 3 bottoms with unfilled tails to the downside - hum yes I will wait some more

A move either way from here should worth a ride
  • #204,866
  • Mar 10, 2010 9:48am Mar 10, 2010 9:48am
Quoting skiffx
Looks like its having trouble staying above that Feb Ext level:

H4:
Attachment

H1:
Attachment
Well. I am short.. hoping to hit March 1st low 1.3780
  • #204,867
  • Mar 10, 2010 9:55am Mar 10, 2010 9:55am
I closed some of my shorts earlier today, but still have a small position riding from 1.51 area for longer term trade.
At this point my view is still bearish, but trying to understand where would be the best position to add another short. Ive read a few ppl suggesting it could retrace back to 1.5018 area, thats were Id pull a trigger either on rejection at that level or break for a long. However Im afraid it wont get to that level and will drop further south and Ill miss the trade to add more shorts.
  • #204,868
  • Mar 10, 2010 9:56am Mar 10, 2010 9:56am
Damn lately cable is being so difficult to trade.
  • #204,869
  • Mar 10, 2010 9:58am Mar 10, 2010 9:58am
Quoting bbakker
and back down again. Seems to be range bound at the moment between 20-60 only providing scalping opportunities. GL!
latter if it's around 1.5xxx you will still say, "look like having trouble in this level, just apportunities for scalping.."
don't know what are you looking for...
I will be the number one Manager.
  • #204,870
  • Mar 10, 2010 10:00am Mar 10, 2010 10:00am
We could end up close to daily pivot around 1.50
  • #204,871
  • Mar 10, 2010 10:07am Mar 10, 2010 10:07am
Quoting javapips
latter if it's around 1.5xxx you will still say, "look like having trouble in this level, just apportunities for scalping.."
don't know what are you looking for...
Im waiting for the downtrend to resume, but I dont have the ability to call the exact top, so Im just watching as it develops, and waiting to pull the trigger when I get confirmations, since going long now would be going against the trend, I wont be joining the upwards movement.
  • #204,872
  • Mar 10, 2010 10:07am Mar 10, 2010 10:07am
Quoting javapips
latter if it's around 1.5xxx you will still say, "look like having trouble in this level, just apportunities for scalping.."
don't know what are you looking for...
What do I know!
  • #204,873
  • Mar 10, 2010 10:10am Mar 10, 2010 10:10am
Profit booking rally before another downfall on thursday and friday.

A major downtrend does not change with one day bullish candle.
  • #204,874
  • Mar 10, 2010 10:13am Mar 10, 2010 10:13am
Quoting bbakker
What do I know!
so tell us what do you know...,
where is the top if it's going down?
I will be the number one Manager.
  • #204,875
  • Mar 10, 2010 10:22am Mar 10, 2010 10:22am
Quoting skiffx
Im waiting for the downtrend to resume, but I dont have the ability to call the exact top, so Im just watching as it develops, and waiting to pull the trigger when I get confirmations, since going long now would be going against the trend, I wont be joining the upwards movement.
trend trend and trend...,this day i read all people talking 25 pips, 30 pips, 15 pips, and than they talking about trend...,which trend? TF please...

my opinion (imho) after down Monday last week 400 pips, there is no trend...
I will be the number one Manager.
  • #204,876
  • Mar 10, 2010 10:29am Mar 10, 2010 10:29am
Quoting javapips
trend trend and trend...,this day i read all people talking 25 pips, 30 pips, 15 pips, and than they talking about trend...,which trend? TF please...

my opinion (imho) after down Monday last week 400 pips, there is no trend...
check my charts posted yesterday with EW count, I see cable going to 1.45 from here.

Also given how EU is holding its levels lately, E/G is putting more pressure on GU atm, so I dont see why Id be going long at this time.

And lastly, I closed my shorts today for more than 150-200+ pip profits and waiting to reenter.

edit: if somebody will teach me how to properly take out 20-30 pips out of this market safely on top, Ill be one happy mofo
  • #204,877
  • Mar 10, 2010 10:30am Mar 10, 2010 10:30am
DJ, S&P, Oil, Gold and EU are all up. Buyers outnumber sellers by 2.5:1. It's a wonder Cable is still stalling
  • #204,878
  • Mar 10, 2010 10:38am Mar 10, 2010 10:38am
Quoting javapips
so tell us what do you know...,
where is the top if it's going down?
It has broken the (short-term) trendline from Monday's high, so it could go back above 15000. Resistance is at 1.4989 and 1.5026. I place an order to open at 1.5020 last night, but it came up short. If it breaks 1.5000, I will probably do another order to open at 1.5010 with a 25 SL. This is only MY OPINION and you should base your trades on your findings and no one elses. As you know from my sentiment, long-term I think Sterling is in trouble. UK has the same yearly budget deficit as Greece running at 13%, although total deficit is less % of GDP than Greece. Brown will annouce the new fiscal budget on the 24th March, which includes a Public Sector pay freeze. If the budget is not clear on reducing this deficit, it will hurt Sterling. Government are afraid to cut because of the threat of the double dip recession. Elections will probably be held on the 6th May, but that has not been confirmed. Just my 2 cents.
  • #204,879
  • Mar 10, 2010 10:41am Mar 10, 2010 10:41am
Quoting javapips
trend trend and trend...,this day i read all people talking 25 pips, 30 pips, 15 pips, and than they talking about trend...,which trend? TF please...

my opinion (imho) after down Monday last week 400 pips, there is no trend...
Look at the daily chart and tell me what you see!
  • #204,880
  • Mar 10, 2010 10:57am Mar 10, 2010 10:57am
Quoting bbakker
Look at the daily chart and tell me what you see!
huh?? daily chart?

you are talking some few pips and talking daily chart...


it's ok scalping but be rational in TF...
your word long short long short could causes a confuse if newbe like me read that post...

btw i didn't see your chart from first time (last week if i'm not wrong) you give a post here, "this is bearish"
or i miss that chart?
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