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Cable Update (GBPUSD)

  • #206,701
  • Mar 17, 2010 2:15am Mar 17, 2010 2:15am
Quoting ovic
update: cable shooting up like 26 pips

Advice: Guys beware of false breakouts... especially u longs.

Okay, let me know when I should close my long then...... You must be the one on the other side of my trade
  • #206,702
  • Mar 17, 2010 2:21am Mar 17, 2010 2:21am
Quoting Jns
Thanks I'm long tight TS positive and 4Hr close to 200EMA might bounce back or shoot through London will tell
Sorry looking at the wrong screen GY close to 200ema
BE THE BEST YOU CAN BE AND BE IT TODAY
  • #206,703
  • Mar 17, 2010 2:26am Mar 17, 2010 2:26am
Quoting Honored
yes thats what i was just thinking about. It still needs to break this 1.5250 level which i dont think it will until London opens. so i wait.....
Here we go
  • #206,704
  • Mar 17, 2010 2:26am Mar 17, 2010 2:26am
Quoting learntowin
So Keep Buying @ dips


Target : 1.5300 - 1.5800 - 1.6300

Dont miss the train
Anyone missed the Train ?
  • #206,705
  • Mar 17, 2010 2:26am Mar 17, 2010 2:26am
As I've mentioned before, the upside move on EURUSD cjrrelated with the exact one at the cable. GU made another peak without confirming the retracement. so the way to 1.5290-1.53 is open by now.

all the updates are posted in the signature link.
  • #206,706
  • Mar 17, 2010 2:27am Mar 17, 2010 2:27am
Good day to you all,

Keep the following levels in mind. Mark them on your charts.

Price currently "trapped" between yesterdays high as well as the high of 2 days ago, sitting @ 1.5205 - this in confluence with the 1.5200 round number.

In the mix here, we also have the high of last week @ 1.5216.

A break of 1.5259 - then hold back first. Wait for the retrace and if price go and sits on the 1.5259, we may continue to 1.5300.

If the current momentum continues - even 1.5425 could be seen quite quickly.

The most important levels lower, is sitting @ 1.5175 ( weekly open) as well as 1.5154 ( Monthly open) - this in confluence here, with the low of last month @ 1.5151

If price is blocked @ 1.5260 area, we may have a flat day to close around 1.5216.

Shorts can only be considered with a break back below 1.5243 ( and this level holding


Trade well

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: gu18.gif Size: 19 KB
  • #206,707
  • Mar 17, 2010 2:27am Mar 17, 2010 2:27am
beware of false breakouts

30 mins, inverted pins... i said it
  • #206,708
  • Mar 17, 2010 2:28am Mar 17, 2010 2:28am
Quoting bbakker
Here we go
it did break. but why is it comin down 30 pips
  • #206,709
  • Mar 17, 2010 2:29am Mar 17, 2010 2:29am
Got into a short and took half at 13pips, am now trading free...
@pawpaw1000 on Twitter
  • #206,710
  • Mar 17, 2010 2:30am Mar 17, 2010 2:30am
Quoting ovic
beware of false breakouts

30 mins, inverted pins... i said it
I knew it too ...
I am ready to short very soon ...
  • #206,711
  • Mar 17, 2010 2:31am Mar 17, 2010 2:31am
Quoting Honored
it did break. but why is it comin down 30 pips
Quoting bbakker
Setting up the longs, like they did the shorts yesterday?
A possibile reason
  • #206,712
  • Mar 17, 2010 2:32am Mar 17, 2010 2:32am
closed... Not sure where market is going and made a quick 2%...

will be back after training FOLLOWING THE TREND...
@pawpaw1000 on Twitter
  • #206,713
  • Mar 17, 2010 2:32am Mar 17, 2010 2:32am
Bear time
  • #206,714
  • Mar 17, 2010 2:32am Mar 17, 2010 2:32am
Quoting bbakker
A possibile reason
My signal was short this morning. I waited for the right time to get in, short-term for the retrace.
  • #206,715
  • Mar 17, 2010 2:33am Mar 17, 2010 2:33am
GBPUSD – Sterling was one of the main beneficiaries of the Fed decision last night and broke above last weeks highs at 1.5210/20 towards 1.5270. This break and close above 1.5200 could well target 1.5330 in the near term; however problems still remain, a fact acknowledged by MPC member Charles Bean in a speech last night. He raised the prospect of further QE if necessary, or an increase in rates if circumstances dictated, as the recovery unfolded.
Trend line support from the lows at 1.4780 comes in at 1.4935, while the key downside level on the cable remains at 1.4850, the 61.8% retracement of the up move from 1.3500 to the highs at 1.7045. A break below here would re-target 1.4400, the 22nd April 2009 lows.

Source: http://www.sharecast.com/cgi-bin/sha...ory_id=3341566
  • #206,716
  • Mar 17, 2010 2:39am Mar 17, 2010 2:39am
Beware of Bear Trap shorters
  • #206,717
  • Mar 17, 2010 2:42am Mar 17, 2010 2:42am
Quoting FXTheOne
Beware of Bear Trap shorters
I admit, it is a risky strategy... swimming against the tide.
  • #206,718
  • Mar 17, 2010 2:42am Mar 17, 2010 2:42am
We are still in a breakout range here, play the moves within until we have a confirmation either way, until the jobless claims come out at 0930 and the budget analysis report from the EU at midday.
  • #206,719
  • Mar 17, 2010 3:13am Mar 17, 2010 3:13am
Wow this place has gone a little quiet...
  • #206,720
  • Mar 17, 2010 3:18am Mar 17, 2010 3:18am
Quoting antic81
Wow this place has gone a little quiet...
cos everyone is gettin confused...

ok guys i was right anyway warning the longs of false breakout...
i ve exited my short cos honestly, ii think we ll find support in the 1.5204 region.

i love this game
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