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Cable Update (GBPUSD)

  • #212,181
  • Apr 1, 2010 4:45am Apr 1, 2010 4:45am
Hi guys,

Finally took the plunge and bought a 3G key as stealing internet from my neighbour was becoming too difficult, back aches included!

so I'm now 24h!!

looks like price is waiting for something???

Maybe all the US news coming today??? there sure is alot!!!
@pawpaw1000 on Twitter
  • #212,182
  • Apr 1, 2010 4:46am Apr 1, 2010 4:46am
Quoting chankl78
Range is between 1.520 & 1.5250 for past near 2 hours. Only 50pips.
Perform a new S/R at 1.5220/21 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #212,183
  • Apr 1, 2010 4:53am Apr 1, 2010 4:53am
Quoting Bull_Bear
sell 1.5155, SL.. 1.5190.. TP open
Stopped out.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #212,184
  • Apr 1, 2010 5:01am Apr 1, 2010 5:01am
Quoting Bull_Bear
Stopped out.
hope u doing well brother!!? ..be prepared for this bitch to break up..it could be huge movement
  • #212,185
  • Apr 1, 2010 5:02am Apr 1, 2010 5:02am
Quoting Bull_Bear
Stopped out.
small price to pay for the big gains ahead, keep up the good work
  • #212,186
  • Apr 1, 2010 5:03am Apr 1, 2010 5:03am
i give up..,out about 30 pip..., all my indi say down but i think it is a trap.

this week become cheerleaders hip hip horee all the way but end in Zero pip...
i don't want to trade NFP either, even if she move 300 pips in an hour i don't care, i could get that with no news another day... so see you next week...,happy weekend to you
I will be the number one Manager.
  • #212,187
  • Apr 1, 2010 5:06am Apr 1, 2010 5:06am
GBP: RALLY CONTINUES DESPITE WEAKER DATA
For the fourth trading day in a row, the British pound has extended its gains against the U.S. dollar. The rally in the GBP is most likely tied to end of quarter flows and the residual effect of yesterday’s better than expected GDP and current account numbers because the latest reports indicate that consumer confidence deteriorated. The GBP/USD has broken above a very important resistance level and appears poised for stronger gains. The outperformance can be best seen through EUR/GBP which continues to sit near 1 month lows. U.K. manufacturing sector PMI numbers are due for release tomorrow and a strong report should fuel additional gains in the currency. Even though the CBI Industrial Trends survey, which also measures activity in the manufacturing sector fell last month, exports rose materially which is in line with a stronger report. Sterling also weakened significantly over the past few months, which should help boost external demand.
@pawpaw1000 on Twitter
  • #212,188
  • Apr 1, 2010 5:09am Apr 1, 2010 5:09am
Quoting pawpaw1000
GBP: RALLY CONTINUES DESPITE WEAKER DATA
For the fourth trading day in a row, the British pound has extended its gains against the U.S. dollar. The rally in the GBP is most likely tied to end of quarter flows and the residual effect of yesterday’s better than expected GDP and current account numbers because the latest reports indicate that consumer confidence deteriorated. The GBP/USD has broken above a very important resistance level and appears poised for stronger gains. The outperformance can be best seen through EUR/GBP which continues to sit...
So ,,, are we going short then????????
  • #212,189
  • Apr 1, 2010 5:15am Apr 1, 2010 5:15am
Tomorrow of course is a B/H in Uk and Europe and some U.s markets are closed/closing early, but NFP # etc is still being released there. Forecast consensus is for a strong print on the headline # (FF.com saying +179k,) although ADP forecast on Weds was negative (-23k.) Weekly claims have been diminishing and there has been an upturn in the employment components of the ISM survey's etc...but that forecast seems very optimistic ((last mth -36k) particularly given the negative prints leading up to it albeit it in a rising histogram since April 2009's -663k headline #.

The actual print has the potential for the market to be disappointed with a markedly lower number much less another negative one....although market's knee-jerk reaction and then longer term intraday direction will be determined, as always by the headline #, revisions to previous and un-emp rate, with a close eye on the manufacturing component.

G/L

http://i40.tinypic.com/n6q5wz.jpg
Low volume (re Uk/European Bank Hol etc) may lead to 'exaggerated' moves around the NFP # tomorrow..., high volatility could be the result as market is 'more easily' moved and with volatility may come hi-probability opportuinity.

G/L
ex member
  • #212,190
  • Apr 1, 2010 5:16am Apr 1, 2010 5:16am
Quoting solrac
So ,,, are we going short then????????
Hi bud,

nah, I have NO IDEA! I really thought we would get some movement today but just aint seeing it...

we broke quite a big resistance yesterday and we are above the downtrend channel... next resistance for me is 5254 and after that 5340...

In 4h it is sticking to the uptrend line I have drawn two days ago and it looks like it wants to test that 5340 again. We have alot of DOLLAR news today so maybe thats the reason for the lathargic PA?

I'm waiting for a break below 5180 or above 5254 before I place a trade...

what you up to? traded today! still cant believe that trade of yours yesterday! Well done...
@pawpaw1000 on Twitter
  • #212,191
  • Apr 1, 2010 5:16am Apr 1, 2010 5:16am
Quoting javapips
i give up..,out about 30 pip..., all my indi say down but i think it is a trap.

this week become cheerleaders hip hip horee all the way but end in Zero pip...
i don't want to trade NFP either, even if she move 300 pips in an hour i don't care, i could get that with no news another day... so see you next week...,happy weekend to you
it is a trap...i will show u what is happenning...
Attached Image (click to enlarge)
Click to Enlarge Name: trade3.gif Size: 28 KB
  • #212,192
  • Apr 1, 2010 5:19am Apr 1, 2010 5:19am
Intraday bias in GBP/USD remains on the upside with 1.5042 minor support intact. Rise from 1.4798 is treated as the third leg of consolidation pattern that started at 1.4783 and is possibly targeting 1.5381 resistance. Nevertheless, upside should be limited by 38.2% retracement of 1.6456 to 1.4783 at 1.5422 to conclude the consolidation and bring down trend resumption. On the downside, below 1.5042 minor support will flip intraday bias back to the downside. Decisive break of 1.4783 low will confirm that whole decline from 1.6456 has resumed and should target 200% projection of 1.6875 to 1.5829 from 1.6456 at 1.4364.
@pawpaw1000 on Twitter
  • #212,193
  • Apr 1, 2010 5:20am Apr 1, 2010 5:20am
Quoting pawpaw1000
Intraday bias in GBP/USD remains on the upside with 1.5042 minor support intact. Rise from 1.4798 is treated as the third leg of consolidation pattern that started at 1.4783 and is possibly targeting 1.5381 resistance. Nevertheless, upside should be limited by 38.2% retracement of 1.6456 to 1.4783 at 1.5422 to conclude the consolidation and bring down trend resumption. On the downside, below 1.5042 minor support will flip intraday bias back to the downside. Decisive break of 1.4783 low will confirm that whole decline from...

its not minor its huge..if it breaks above it..the movement up will be something
  • #212,194
  • Apr 1, 2010 5:22am Apr 1, 2010 5:22am
Quoting nAVIN2007
it is a trap...i will show u what is happenning...
Hi navin...

whats that top line you got there? The resistance line angling down?

Thanks for the help...
@pawpaw1000 on Twitter
  • #212,195
  • Apr 1, 2010 5:24am Apr 1, 2010 5:24am
Quoting nAVIN2007
its not minor its huge..if it breaks above it..the movement up will be something
they talking about 5042...

think you're referring to 5242???
@pawpaw1000 on Twitter
  • #212,196
  • Apr 1, 2010 5:25am Apr 1, 2010 5:25am
Quoting pawpaw1000
Hi bud,

nah, I have NO IDEA! I really thought we would get some movement today but just aint seeing it...

we broke quite a big resistance yesterday and we are above the downtrend channel... next resistance for me is 5254 and after that 5340...

In 4h it is sticking to the uptrend line I have drawn two days ago and it looks like it wants to test that 5340 again. We have alot of pound news today so maybe thats the reason for the lathargic PA?

I'm waiting for a break below 5180 or above 5254 before I place a trade...

what you up to? traded...
Im sticking to senior members view of an upswing here,, wish I had their confindence and patience . I am thinking of going long as sentiment for today is up since Frankkie opening,,,, yet I am not sure about US news so feel totally undecided ,,,,,5228/5230 seems to be a resting plateau for Cable
  • #212,197
  • Apr 1, 2010 5:25am Apr 1, 2010 5:25am
Quoting nAVIN2007
hope u doing well brother!!? ..be prepared for this bitch to break up..it could be huge movement
Nav, agreed bro... this baby is rising no doubt

Good to see you doing well mate
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #212,198
  • Apr 1, 2010 5:25am Apr 1, 2010 5:25am
Quoting nAVIN2007
it is a trap...i will show u what is happenning...
Nice explanation too!
  • #212,199
  • Apr 1, 2010 5:25am Apr 1, 2010 5:25am
76.4% of 5381-4797 and descending 4hr trendline providing the resistance so far at today's current highs
http://i41.tinypic.com/710js1.jpg
1hr ascending channel still intact
http://i40.tinypic.com/nzg2rk.jpg

G/L
ex member
  • #212,200
  • Apr 1, 2010 5:28am Apr 1, 2010 5:28am
Quoting forexlion
small price to pay for the big gains ahead, keep up the good work
+254 pips on the previous trade, -35pips on this trade.
Yup small price
Veni, Vidi, Vici (We came, we saw, we conquered)
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