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Cable Update (GBPUSD)

  • #214,941
  • Apr 8, 2010 4:18pm Apr 8, 2010 4:18pm
Quoting cableboy
just adding a bit of suspense........
lol, well its a good excuse anyway ha ha and it makes us sound important in this market
  • #214,942
  • Apr 8, 2010 4:20pm Apr 8, 2010 4:20pm
Quoting cloggie
Based on the daily range there is still another 25-30 pips in play. Which brings us to 5287
As long as we stay below 5287, my short is still a valid trade
  • #214,943
  • Apr 8, 2010 4:23pm Apr 8, 2010 4:23pm
Quoting digger1
lol, well its a good excuse anyway ha ha and it makes us sound important in this market
lol u crack me up
  • #214,944
  • Apr 8, 2010 4:24pm Apr 8, 2010 4:24pm
Oh my god, look, is it a plane? is it a bird? no it is a stophuntaurus, duck!!! run for cover!!! they are after your 10c mini account lot.
  • #214,945
  • Apr 8, 2010 4:25pm Apr 8, 2010 4:25pm
Quoting cloggie
As long as we stay below 5287, my short is still a valid trade
Me too Cloggie, my SL is at 877...good luck to us both.
  • #214,946
  • Apr 8, 2010 4:25pm Apr 8, 2010 4:25pm
Quoting cloggie
As long as we stay below 5287, my short is still a valid trade
well ive just had a couple shorts (jack daniels that is) and im off to the local night club to blow some of the pips from this week ( good green week) and hopefully when i stagger in i shall have both a lovely lady in hand a a bag of pips. Wish you guys a luck
cya
  • #214,947
  • Apr 8, 2010 4:28pm Apr 8, 2010 4:28pm
oh one more thing

Inserted Video


Thank You
  • #214,948
  • Apr 8, 2010 4:28pm Apr 8, 2010 4:28pm
Quoting cloggie
As long as we stay below 5287, my short is still a valid trade
There was a quick spike to 5287 yesterday, that's what you based it on?

Hmmm, thing just bounced off the 150ema on the 1M chart again at 15273.
Back to basics, it has to be for me!
  • #214,949
  • Apr 8, 2010 4:31pm Apr 8, 2010 4:31pm
Quoting wormboy
oh one more thing

http://www.youtube.com/watch?v=cpV0ygkmhP4

you a footie fan wormie?

the reds just got through to Europe league semi-final... big for them considering the shocker of a season theyre having!
  • #214,950
  • Apr 8, 2010 4:34pm Apr 8, 2010 4:34pm
Ok, it's now definitely at the juncture point.... break is imminent.

I'm a buying again once the 4H candle closes above the the triangle.

Destination 1.5430

See ya at the London session
Attached Image (click to enlarge)
Click to Enlarge Name: cable.jpg Size: 110 KB
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #214,951
  • Apr 8, 2010 4:36pm Apr 8, 2010 4:36pm
Quoting cableboy
well ive just had a couple shorts (jack daniels that is) and im off to the local night club to blow some of the pips from this week ( good green week) and hopefully when i stagger in i shall have both a lovely lady in hand a a bag of pips. Wish you guys a luck
cya
Ha ha , be careful man make the choice before the alcohol and closing time kicks in , or you could wake up -pips and something tht scares you very badly , cheers man
  • #214,952
  • Apr 8, 2010 4:37pm Apr 8, 2010 4:37pm
Quoting Magix
Hrmmmmmmmmmmmmmmmm......
Couldnt you just as easily circle the three peaks and suggest a retracement down?
  • #214,953
  • Apr 8, 2010 4:43pm Apr 8, 2010 4:43pm
Quoting Bull_Bear
Ok, it's now definitely at the juncture point.... break is imminent.

I'm a buying again once the 4H candle closes above the the triangle.

Destination 1.5430

See ya at the London session
I don't see that until we cross 1.5380, so until then I will still remain bearish. Once we break above this, I will change my sentiment.
  • #214,954
  • Apr 8, 2010 4:50pm Apr 8, 2010 4:50pm
Quoting bbakker
I don't see that until we cross 1.5380, so until then I will still remain bearish. Once we break above this, I will change my sentiment.
so you're shorting until cable hit 5380? that's more than a hundred pips from here you know
Thank You
  • #214,955
  • Apr 8, 2010 5:01pm Apr 8, 2010 5:01pm
Bad call this morning , missed up move due to having meeting , but managed to get out with a few pips on the sell

Here is what I have on 4 hour , daily closing at highs , daily US markets closing at highs ,

This looks like a bull flag , todays daily closed at high . very bullish and broke top of flag

I am looking for a move into 1.5380 before end of week ,

Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #214,956
  • Apr 8, 2010 5:05pm Apr 8, 2010 5:05pm
Quoting wormboy
so you're shorting until cable hit 5380? that's more than a hundred pips from here you know
LOL. My SL is at 95! That is 295, not 395! I'm talking about my general sentiment with regards to cable. Today's manufacturing figures were very good coming out of the UK even though the industry has been depleted over the years and the UK has a much larger services sector now. Still, the election is less than 30 days away and there is still no clear winner at this stage. Anything can happen. A coalition parliament would be the worst result for Sterling, but that's just my 2 pennies on it.

Back to the golf!
  • #214,957
  • Apr 8, 2010 5:12pm Apr 8, 2010 5:12pm
280 still isnt giving in

still a chance for the bears, but i admit, price action really isnt looking in favour for us. stop loss at 305. off to sleep now, see you in the morning. good pips to you all
  • #214,958
  • Apr 8, 2010 5:25pm Apr 8, 2010 5:25pm
ok this has been painful all evening. Im heavy on the short side and I just need to claw a bit back before bed. 5280 has held despite a number of (weak) attempts to break. Hopefully we'll get a bit of downslide so I'm going to close off half my position at 5255 and let the rest ride. If there is a strong rally up my profits for the week will cover up to about 153.80 which is where I think the next main set of resistance will occur. I can always scalp some buys and sells inbetween the rally and I can then try and get my pips back via shorts from the top 1.5380 - 1.5420 area.
  • #214,959
  • Apr 8, 2010 5:30pm Apr 8, 2010 5:30pm
Quoting OldReigatian
Couldnt you just as easily circle the three peaks and suggest a retracement down?
Yes, I absolutely could.

BUT

Quick look here at what I see.

H4 chart, 24SMA above 200EMA and rising.
What does that mean? Well, means we have more people buying above the longer time frames then selling. More volume at a higher price with a baseline support to me is still indicative of a longterm chart.

Last night we had confirmed 30m-1m short side, and even in doing this, the 24 on 4 was still on the rise. The correction down was negated by London into NY buys and now all of the time frames are in line. All ducks in a row, should see a little retrace from here, and play through confirmation to north side.

It's just what I see, I play the shorter TF charts, so really doesn't matter to me if we are with the bull or the bear, but having an idea of long term direction and knowing that the range must break eventually, would rather find myself on the winning side of a longer term trade.

Hey, this is what the chart says now. Anything can happen, but until I see the H4 signal negated, I am looking to buy into London session for a carry through and break out range.

Do what you would normally do, if the fit hits the shan, I know my ass will be covered one way or the other.

Attached Image (click to enlarge)
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #214,960
  • Apr 8, 2010 5:42pm Apr 8, 2010 5:42pm
Quoting Magix
Yes, I absolutely could.

BUT

Quick look here at what I see.

H4 chart, 24SMA above 200EMA and rising.
What does that mean? Well, means we have more people buying above the longer time frames then selling. More volume at a higher price with a baseline support to me is still indicative of a longterm chart.

Last night we had confirmed 30m-1m short side, and even in doing this, the 24 on 4 was still on the rise. The correction down was negated by London into NY buys and now all of the time frames are in line. All ducks in a row, should see a...
Thanx Magix now understand a bit more where you comin from. Just as a note, if gu does go up to 1.54 area tomorrow that would tend to correlate with Eur/Gbp getting down to the cluster support range at .8650 ish area. I'm just wondering whether there might be a play going on to end the week at a high with a view to an extended rally back down next week. Am I over analysing, or do you concur with the thought process? Not asking you to advise, just wondering what your thoughts are.
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