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Cable Update (GBPUSD)

  • #213,521
  • Apr 6, 2010 3:56pm Apr 6, 2010 3:56pm
lets play again

what is the best time to trade cable

asia london or the US
  • #213,522
  • Apr 6, 2010 3:58pm Apr 6, 2010 3:58pm
Quoting malcolmb14
You got one right good job.

I do hope you research your trades a bit better than this thinly veiled attack on me.
  • #213,523
  • Apr 6, 2010 3:59pm Apr 6, 2010 3:59pm
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  • #213,524
  • Apr 6, 2010 4:01pm Apr 6, 2010 4:01pm
Quoting fendi
This is fx, shorter's beware, this train doesn't look good any more for shorters. If i can put this through a chart i can explain my view in this manner. 1.5237 breaks and HOLD'S in the LONG we are going to have higher high's. else we wait
MAN try to post a chart plz
  • #213,525
  • Apr 6, 2010 4:04pm Apr 6, 2010 4:04pm
Quoting cloggie
At least a short here will eventually work out as we haven't past 53 in earnest in weeks, as long as you can handle the drawdown and don't mind a slow PA with a bit of ranging and still a risk of an upward break to 53.

I am going back to my analogy, why jump in at the rapids when you can jump in a free flowing river and enjoy the ride on your lilo with a beer in hand?
Yep. We still have not had a daily close above or below Friday's hi/lo. I'll wait instead of betting red or black for a few extra pips.
The market is always right.
  • #213,526
  • Apr 6, 2010 4:05pm Apr 6, 2010 4:05pm
Quoting fendi
This is fx, shorter's beware, this train doesn't look good any more for shorters. If i can put this through a chart i can explain my view in this manner. 1.5237 breaks and HOLD'S in the LONG we are going to have higher high's. else we wait
So were currently short but not really cuz its kind of a long chart but if we don't go up we stay here or fall down?

I don't think you need to post a chart, that is as Clear as could be, Vague at best.

Long story short.
If we don't go up, we go sideways or down.

Whutever dude.

Something I am finding a little interesting here.

I am typically not heavily steeped in corelation trading, but...

USDCAD plays out almost a nice inverse to cable, and quite often when I am unsure, will look to this chart to get a better feel for the movement. USDCAD has hit a new low overnight and into NY trading, and is coming really close to its 1440ema. The last time this happened...circled on the chart.

Now, unless we break what I consider a fairly strong corelation here, and because we haven't actually created a new high on the monthly, a reversal on USDCAD could show the same for cable.

The monthly chart on cable still says we may not have seen bottom, at least according to my scales and oscillators...

Anywhooooooooooooo.

You really never know what to expect. Play long until it's time to go short. Play short until it's time to go long.

In any case, as long as we keep up some nice daily movement, there is plenty of money for the taking.
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  • #213,527
  • Apr 6, 2010 4:06pm Apr 6, 2010 4:06pm
Quoting cloggie
I do hope you research your trades a bit better than this thinly veiled attack on me.
I do not research trades .. just react to market conditions and price action as I am in the voodoo club.

Your post just looked very arrogant. Maybe you were joking and maybe not.

I also mentioned to Pawpaw that downside range had completed for day and the sell was not a good idea at this point but I did not come on here spouting a bunch of arrogant rules.
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  • #213,528
  • Apr 6, 2010 4:08pm Apr 6, 2010 4:08pm
Quoting malcolmb14
I do not research trades .. just react to market conditions and price action as I am in the voodoo club.

Your post just looked very arrogant. Maybe you were joking and maybe not.

If you look at the posts in context, you will see the banter between pawpaw, bbakker, kill and I over a couple of shorts at the bottom of the day's range and a few guys handing back close to a hundred pips to the market.

I agree the post taking out of its context of the conversation can be construed as arrogant, just read the rest and some of my other posts.
  • #213,529
  • Apr 6, 2010 4:15pm Apr 6, 2010 4:15pm
I think fendi is trying to say

we are above last weeks close and Marchs close at 1.5200. Above this is longs on dips with breakout coming as s&p moves into 1200.

There was heavy buying on the dip into 1.5150 today , that I completely missed as head was in the cloud and had an early morning meeting.

I am hoping for some form of reatrce to 1.5220 for move up thru London into 1.5340 to 1.5360

seems that 200 on the 60 did an awesome job of acting as a barrier

Gold and oil screaming also punished usd.

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Quoting Magix
So were currently short but not really cuz its kind of a long chart but if we don't go up we stay here or fall down?

I don't think you need to post a chart, that is as Clear as could be, Vague at best.

Long story short.
If we don't go up, we go sideways or down.

Whutever dude.

Something I am finding a little interesting here.

I am typically not heavily steeped in corelation trading, but...

USDCAD plays out almost a nice inverse to cable, and quite often when I am unsure, will look to this chart to get a better feel for the movement....
Blogging daily now at www.volume.zone
  • #213,530
  • Apr 6, 2010 4:16pm Apr 6, 2010 4:16pm
As for my last post on correlation, it is what it is until it isn't anymore.

I prefer to have a look at a cable chart to take trades, this does make the most amount of sense, so, in saying that, here's the chart. Currently strong to the bull side, and as the saying goes, if it walks like a duck and quacks like a duck, it's probably a duck.

We have confirmed long side on the h4 chart showing a possible target area circled in red. As the hourly expected pull back has presented, it clears way for continuation. Trigger present as price has closed above 24SMA. That being said, we still have a thinly traded cover area, red band, that we have to make through to see any higher.

We do have strength in the immediate, but until we safely clear the red zone, I don't think anybody can 100% conclusively say that we go any higher.

Close of candle on the H4 is what I will be looking for, but as trades present so well off the 1m and 5m charts, where we go from here, really ain't altogether that important to me.

Voodoo Boodoo!
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  • #213,531
  • Apr 6, 2010 4:18pm Apr 6, 2010 4:18pm
Quoting cloggie
If you look at the posts in context, you will see the banter between pawpaw, bbakker, kill and I over a couple of shorts at the bottom of the day's range and a few guys handing back close to a hundred pips to the market.

I agree the post taking out of its context of the conversation can be construed as arrogant, just read the rest and some of my other posts.
and I counted every single number back to BE apart from one position. I was working my three little runners theory today, but I should keep that for the long-term trades only. Day trades require a moving SL to lock in that profit and bank it. That was my lesson for today and there will be many more to come, that's for sure.
  • #213,532
  • Apr 6, 2010 4:19pm Apr 6, 2010 4:19pm
Quoting bbakker
and I counted every single number back to BE apart from one position. I was working my three little runners theory today, but I should keep that for the long-term trades only. Day trades require a moving SL to lock in that profit and bank it. That was my lesson for today and there will be many more to come, that's for sure.

I wasn't going to point fingers.......
  • #213,533
  • Apr 6, 2010 4:21pm Apr 6, 2010 4:21pm
Quoting fendi
what happened in here, i told you all no body know's it all, but ability to make more GREEN'S than RED is FX
2 charts for ya here Ace.

The first forecasted, the second as actual and current.

Who knows what will happen? The chart does, though it may fib sometimes (tee hee hee), the truth always plays through in the end.

http://www.forexfactory.com/showpost...stcount=212731
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  • #213,534
  • Apr 6, 2010 4:27pm Apr 6, 2010 4:27pm
Tthe overnight decline of GPBUSD appears to have stalled ahead of the 20-Day SMA at 1.5100 as the 30-minute RSI bounces back from a low of 24. We may see the pair continue to trend sideways going into the Asian trade as the Bank of England is scheduled to announce its April rate decision later this week. However, as the rally from the end of March stalls ahead of the 50-Day SMA at 1.5359, we could see dovish comments following the policy meeting push the pair lower and lead the exchange rate to test the yearly low at 1.4782.

Either a triangle or flat is underway as a 4th wave correction in the GBPUSD. In the event of a flat, the pair would exceed 15386 slightly before reversing. If a triangle, then support would probably come in anywhere from 14930 to 15025.

Extract taken from other website.... Can someone explain me this triangle thingy please. i dont see a triangle Just show me the 3 points of the triangle
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  • #213,535
  • Apr 6, 2010 4:34pm Apr 6, 2010 4:34pm
Quoting Honored
Tthe overnight decline of GPBUSD appears to have stalled ahead of the 20-Day SMA at 1.5100 as the 30-minute RSI bounces back from a low of 24. We may see the pair continue to trend sideways going into the Asian trade as the Bank of England is scheduled to announce its April rate decision later this week. However, as the rally from the end of March stalls ahead of the 50-Day SMA at 1.5359, we could see dovish comments following the policy meeting push the pair lower and lead the exchange rate to test the yearly low at 1.4782.

Either a triangle...
The keyword is 'underway'. Draw the line from today's price to anywhere from 14930 to 15025 and there is your triangle.

BoE will keep rates unchanged and might hint at QE but unlikely at this stage, as there is no sign of a double-dip as yet.

P.S. The picture is old and it looks like we are having a flat.
  • #213,536
  • Apr 6, 2010 4:36pm Apr 6, 2010 4:36pm
Quoting Honored
Tthe overnight decline of GPBUSD appears to have stalled ahead of the 20-Day SMA...

Why not ask the person that posted it?
The analysis seems like a lot of spam I get sent by brokers and folk trying to sell trading systems, weak at best.

Everybody must decide their own independent trade methodology.

I would suggest that if this doesn't make sense to you, perhaps keep looking.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #213,537
  • Apr 6, 2010 4:46pm Apr 6, 2010 4:46pm
what a day ha
great day if one had swing both ways. Terrible day if one had positioned.
Me? I had a terrible day. Loaded long before asia, went to bed, woke up at london to find that my 100+ pip wide stop had been gobbled up. Waited for a good price to load up short, got in and watch price shot all the way back up to my asia long entry price. Currently the short position is underwater with my stop being about 60+ pips from here. Poor trading day overall, thank God for lionel messi.
That being said, I am currently bearish on cable. Resistance on d1 is pretty evident & I do not think I'll attempt to long from here unless D1 can close above this level. 2 bearish formations in the span of less than a week however does suggest cable is highly likely to head lower in the coming days.
Short term - a bearish diamond is also present on the H1. Coincidentally price halted ard dp.
Time will tell if these scenarios will play out.
Good luck.
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Thank You
  • #213,538
  • Apr 6, 2010 4:51pm Apr 6, 2010 4:51pm
rooooooooooooooooooooooom

i have a great system for sale it dos have %99.9 rate and its on sale today i will post the chart on the next post

its only $499.99 cheep ah
  • #213,539
  • Apr 6, 2010 4:55pm Apr 6, 2010 4:55pm
Anyone else think this might be as basic as it looks?
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  • #213,540
  • Apr 6, 2010 4:55pm Apr 6, 2010 4:55pm
Quoting kill56
rooooooooooooooooooooooom

i have a great system for sale it dos have %99.9 rate and its on sale today i will post the chart on the next post

its only $499.99 cheep ah

only cheap to buy ... the expensive part is when it has blown up three accounts lol
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