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Cable Update (GBPUSD)

  • #206,581
  • Mar 16, 2010 2:48pm Mar 16, 2010 2:48pm
Quoting pawpaw1000
thanks cloggie, seems 54 is next real resistance?? but surely it wont go that far???
What makes you think 54 is next real res pawpaw???
  • #206,582
  • Mar 16, 2010 2:49pm Mar 16, 2010 2:49pm
Quoting egkid
First Hello bro
Second In my view
No we r still in down trend
Let's see how price react if it go @ 1.5275 can weekly close above it??!!

PS:
Everyone trade depends on his view and they way he read his own chart
GL ALL

i think it will break that tomorrow..infact i think tomorrow movement could be huge
http://i648.photobucket.com/albums/u.../trade2-34.gif
  • #206,583
  • Mar 16, 2010 2:51pm Mar 16, 2010 2:51pm
Quoting pawpaw1000
thanks cloggie, seems 54 is next real resistance?? but surely it wont go that far???

Yeah, today was a real disappointment for me too, to be honest we never really got the needed pullback for entry, that is if you use fibs, which I do.

Over 250 points north and I mannaged a score of - 30...pretty poor showing on my part.

Only that one trade earlier today for me, never tried another sell... atleast I made a seemingly correct choice on that one I guess.

Well done to all the big winners today, I hope one day to get in on a move like this and ride it all the way!
  • #206,584
  • Mar 16, 2010 2:52pm Mar 16, 2010 2:52pm
Quoting solrac
What makes you think 54 is next real res pawpaw???
well, looking at my 4H chart, that was the last place price stagnated at all! the rest was clear sailing...

unless someone can teach me something here?
@pawpaw1000 on Twitter
  • #206,585
  • Mar 16, 2010 2:53pm Mar 16, 2010 2:53pm
Quoting wormboy
guess no one here is on soros's bandwagon anymore. i wonder where our friend with his inside connection is now .... best joke
its funny how numb nuts gets kicked and this place return to the former thread slightly..
  • #206,586
  • Mar 16, 2010 2:54pm Mar 16, 2010 2:54pm
Quoting antic81
Yeah, today was a real disappointment for me too, to be honest we never really got the needed pullback for entry, that is if you use fibs, which I do.

Over 250 points north and I mannaged a score of - 30...pretty poor showing on my part.

Only that one trade earlier today for me, never tried another sell... atleast I made a seemingly correct choice on that one I guess.

Well done to all the big winners today, I hope one day to get in on a move like this and ride it all the way!
u will ..but u gotta take notice of the big picture otherwise its impossible bro

http://i648.photobucket.com/albums/u.../trade2-35.gif
Quoting pawpaw1000
well, looking at my 4H chart, that was the last place price stagnated at all! the rest was clear sailing...

unless someone can teach me something here?
today price broke the low and the broke the high..what does that tell u..?
  • #206,587
  • Mar 16, 2010 3:00pm Mar 16, 2010 3:00pm
I am a confused bunny, but the charts don't lie. I had a short @ 15220 with a SL @ 15250 blown away thinking it would bounce of the daily down trend. Time to sit back and re-assess the situation.

It seems that the rally over the last couple of months on the USD is stalling and maybe weakness is now setting in. Only time will tell.

Second lesson learned today: Trend IS your friend. Why swim against the tide?
  • #206,588
  • Mar 16, 2010 3:01pm Mar 16, 2010 3:01pm
NY closed, that will slow things down. I am done for today.


Goodnight all.
  • #206,589
  • Mar 16, 2010 3:03pm Mar 16, 2010 3:03pm
Quoting nAVIN2007
u will ..but u gotta take notice of the big picture otherwise its impossible bro

http://i648.photobucket.com/albums/u.../trade2-35.gif
Thanks bro, yeah I had conflicting signals, daily saying down and weekly saying up...

You are playing the longer term trades these days arent you mate?

Hows it going? Getting some good pips in the bank I hope!
I too am now looking for full time employment, so will probably be in the same boat, although I have no issue with shift work which would allow a bit of time with the markets!

Keep well,

Ant
  • #206,590
  • Mar 16, 2010 3:04pm Mar 16, 2010 3:04pm
Quoting pawpaw1000
This is ridiculous! all my indicators are telling me to sell, fundamentals are telling me to sell but PRICE KEEPS GOING UP!!! THIS IS CRAZY!

Where will it end, 53/54/98!!!!
On my charts I'm looking at the very near end of a 3 wave correction on the daily and the weekly. For the daily, it looks like an ABC correction after a five wave downward movement; on the weekly it looks like the end of a wave 4, and the monthly looks like a wave three continuation to me......after the end of the retracement. I have been looking to short the majority of the currency pairs I trade on for 1 year, and I see a clear wave three unfolding on many pairs, including the GBP/USD, EUR/USD, AUD/USD, NZD/USD. Short term traders may be confused and are advised to avoid trading unless they are aware of what the market is in the process of doing. Swing and position traders like me are aware that what is happening is a final push up before the continuation of the wave 3 downtrend.
  • #206,591
  • Edited 5:13pm Mar 16, 2010 3:05pm | Edited 5:13pm
Quoting nAVIN2007
i think it will break that tomorrow..infact i think tomorrow movement could be huge
I'm not say it can't break it i say "Let's see how price react there " 1.5275" and if weekly close above it then u r right trend change

Do u wanna bet weekly will not close above it? LOL
  • #206,592
  • Mar 16, 2010 3:06pm Mar 16, 2010 3:06pm
Quoting pawpaw1000
This is ridiculous! all my indicators are telling me to sell, fundamentals are telling me to sell but PRICE KEEPS GOING UP!!! THIS IS CRAZY!

Where will it end, 53/54/98!!!!
On my charts I'm looking at the very near end of a 3 wave correction on the daily and the weekly. For the daily, it looks like an ABC correction after a five wave downward movement; on the weekly it looks like the end of a wave 4, and the monthly looks like a wave three continuation to me......after the end of the retracement. I have been looking to short the majority of the currency pairs I trade on for 1 year, and I see a clear wave three unfolding on many pairs, including the GBP/USD, EUR/USD, AUD/USD, NZD/USD. Short term traders may be confused and are advised to avoid trading unless they are aware of what the market is in the process of doing. Swing and position traders like me are aware that what is happening is a final push up before the continuation of the wave 3 downtrend.
  • #206,593
  • Mar 16, 2010 3:07pm Mar 16, 2010 3:07pm
Quoting antic81
Thanks bro, yeah I had conflicting signals, daily saying down and weekly saying up...

You are playing the longer term trades these days arent you mate?

Hows it going? Getting some good pips in the bank I hope!
I too am now looking for full time employment, so will probably be in the same boat, although I have no issue with shift work which would allow a bit of time with the markets!

Keep well,

Ant
so far it going well..but its one of those things..can easily change..i find trading long time frame a breath of fresh air because i dont need to worry about news, infact i dont take notice of it at all..I just trade the charts at what i believe are extremes..

stay focused and never give up..that way u can only win!!
  • #206,594
  • Mar 16, 2010 3:08pm Mar 16, 2010 3:08pm
Quoting pawpaw1000
all I can say is good luck brother... You're doing what I wish I could...

BUT CANT AS I'M TIRED OF BEING BURNT

but with forex its gonna happen, especially with us noobs...
don't know what are you thinking dude...,when she stay so bullish you always enter short,,,when it's weak you give up..'good time'... stay with your analysis here and some member will say "you are good indicator"
I will be the number one Manager.
  • #206,595
  • Mar 16, 2010 3:08pm Mar 16, 2010 3:08pm
[quote=pawpaw1000;3556357]being a newbie is tough...


If u are a newbie, avoid GBPUSD like a plague. Concentrate on more predictable pairs like EURUSD, USDCHF and AUDUSD.

No matter how much u try, u cannot, for instance explain why GU burst the roof today. Now, one would not be surprised if it gives back most of what it gained today, come tomorrow.

That is GU for u
  • #206,596
  • Mar 16, 2010 3:09pm Mar 16, 2010 3:09pm
Quoting egkid
I'm not say it can't break it i say "Let's see how price react there and if weekly close above it then u r right trend change

Do u wanna bet weekly will not close above it? LOL
no..LOL i agree..but im hoping it is
  • #206,597
  • Mar 16, 2010 3:09pm Mar 16, 2010 3:09pm
Sold Cable @ 1.5258 SL 1.5287. I've been roasted on shorts today so i guess this is my opportunity to recover my lost PIPS. Target is +80 PIPS in this trade. Let's Hope it Plays well. Anyone with me?
Numbers NEVER Lie
  • #206,598
  • Mar 16, 2010 3:15pm Mar 16, 2010 3:15pm
Quoting ZizoFX
Sold Cable @ 1.5258 SL 1.5287. I've been roasted on shorts today so i guess this is my opportunity to recover my lost PIPS. Target is +80 PIPS in this trade. Let's Hope it Plays well. Anyone with me?
Yep.... im in again shorting it at 5254 ...... but it seems there is no direction once again,,,,,
  • #206,599
  • Mar 16, 2010 3:18pm Mar 16, 2010 3:18pm
Quoting nAVIN2007
u will ..but u gotta take notice of the big picture otherwise its impossible bro

http://i648.photobucket.com/albums/u.../trade2-35.gif


today price broke the low and the broke the high..what does that tell u..?
theres alot of bull momentum as even though it broke lower, it still broke high?
@pawpaw1000 on Twitter
  • #206,600
  • Mar 16, 2010 3:21pm Mar 16, 2010 3:21pm
0800 Is not the time to try to trade. Both the London and NY markets are closed and the only ones trading are the retail traders like you and me. The best time to trade is when the London and/or the NY markets are open. That is when the banks and "big boys" are trading and moving the markets.
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