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Cable Update (GBPUSD)

  • #218,821
  • Apr 17, 2010 12:22pm Apr 17, 2010 12:22pm
Hi,
Can you tell me what GS news are u talking about and when are they going to be known?
I still hold my longs.
Don't know why, but as CitiFx entered long in cable around 1,5424 waiting for the 1,60 value, maybe this could be a good clue for us... Just thinking.
What's your thoughts about going long or short?
Thanks.

Quoting wormboy
Was there ever any doubt @5380 today? Not me. Scalped almost all the bounces, missed one by 20 pips & missed another nice short setup off the dp. But all in all, a good trading day nonetheless.

However, we had tightened the emergency stops for our swing positions to 5330. Reason is that although the 5380 still provides significant technical support, we're not taking too much risk carrying our long term positions into next week knowing little if the GS news earlier would have a negative implications on our trades.
Time will tell. Good luck & enjoy...
  • #218,822
  • Apr 17, 2010 12:33pm Apr 17, 2010 12:33pm
Quoting Alado
Hi,
Can you tell me what GS news are u talking about and when are they going to be known?
I still hold my longs.
Don't know why, but as CitiFx entered long in cable around 1,5424 waiting for the 1,60 value, maybe this could be a good clue for us... Just thinking.
What's your thoughts about going long or short?
Thanks.
err did you see Citifx's books where they show all orders. What advantage do they have to tell you what they are doing.

The advantage is easy . They tell you they are going long so you go long driving price up some for them to actually sell into ...... pretty damn simple.

Learn to read your own charts and make up your own mind .
Blogging daily now at www.volume.zone
  • #218,823
  • Apr 17, 2010 12:40pm Apr 17, 2010 12:40pm
Quoting Alado
Hi,
Can you tell me what GS news are u talking about and when are they going to be known?
I still hold my longs.
Don't know why, but as CitiFx entered long in cable around 1,5424 waiting for the 1,60 value, maybe this could be a good clue for us... Just thinking.
What's your thoughts about going long or short?
Thanks.

daily uptrend unless 1.5250 taken out and then this could be flag.

upside target 1.5800 , but I do not think any higher before wave 5 down on weekly.

support 1.5380. I am looking for break of that next week , but keeping mind open as i do not fully trust the rapid sell off Friday
Blogging daily now at www.volume.zone
  • #218,824
  • Apr 17, 2010 12:46pm Apr 17, 2010 12:46pm
By the way can you post a graphic of what u are explaining.
Why don't u trust the rapid sell off?
The support u talking about was already broken friday, and PA is at 1,5360.


Quoting malcolmb14
daily uptrend unless 1.5250 taken out and then this could be flag.

upside target 1.5800 , but I do not think any higher before wave 5 down on weekly.

support 1.5380. I am looking for break of that next week , but keeping mind open as i do not fully trust the rapid sell off Friday
  • #218,825
  • Apr 17, 2010 12:49pm Apr 17, 2010 12:49pm
Quoting Alado
By the way can you post a graphic of what u are explaining.
Why don't u trust the rapid sell off?
The support u talking about was already broken friday, and PA is at 1,5360.
Fake break out. happened same last week.
PA will open around 400 on sunday like it usually does. open higher!
GL with your trades.

I am looking for some consolidation during monday asain session, and then wait for London for direction.
  • #218,826
  • Apr 17, 2010 12:56pm Apr 17, 2010 12:56pm
I am profitable (less than when PA was at 1,546) and with a large position wich i intend to mantain long term.
Altough the back to the 1,5360 i'm betting PA is going North, like you, but many are waiting to the retest or even the break of the 1,5330. Saying that i really don'y know if trades are going to force this value and then continuing their way to long bets.
I really would love if we open sunday around 1,54 as u say and keep their way to the 60's. Would be gold over the blue...

Quoting Honored
Fake break out. happened same last week.
PA will open around 400 on sunday like it usually does. open higher!
GL with your trades
  • #218,827
  • Apr 17, 2010 1:03pm Apr 17, 2010 1:03pm
Can some UK people answer this.

i hear cable will go up if the conservative party wins the election. Does that mean our long term downtrend of cable will end then ?
  • #218,828
  • Apr 17, 2010 1:37pm Apr 17, 2010 1:37pm
Quoting Honored
Can some UK people answer this.

i hear cable will go up if the conservative party wins the election. Does that mean our long term downtrend of cable will end then ?
Fundi-wise speaking, Cable's prospect is rather uncertain. Due to last week's first time televised debate of 3 main parties' leader, Lib-Dem's (the smallest protest vote party) leader came out on top according to polls in debate performance. That increases the 'threat' of a hung parliament. Due to the electorate region format that is stacked immensely against the Conservatives, Tories would need to win 10% to have a majority. This means that Tories can have more popular votes than Labour but still have fewer seats in the Parliament. This new debate polling result only increases the uncertainty.

The market 'consensus' is that the UK would need to have a government with majority that has the courage to inflict short term pain to cut public spending. And this majority is hard to come by in the current situation. If the next government does not have a majority or there might even be a hung parliament, it means that it would be very difficult to cut public spending and there would only be more squabbling between the parties. Tricky, hey
  • #218,829
  • Apr 17, 2010 1:58pm Apr 17, 2010 1:58pm
Quoting Honored
Can some UK people answer this.

i hear cable will go up if the conservative party wins the election. Does that mean our long term downtrend of cable will end then ?
will only help cable if they are elected and they come up with drastic cuts to improve the the uk balance of debt.
  • #218,830
  • Apr 17, 2010 2:47pm Apr 17, 2010 2:47pm
Quoting Honored
Can some UK people answer this.

i hear cable will go up if the conservative party wins the election. Does that mean our long term downtrend of cable will end then ?

Do u really believe any1 could know this for sure..?
  • #218,831
  • Apr 17, 2010 3:12pm Apr 17, 2010 3:12pm
I believe it will go up.

Also I have been having a lot of luck using a 7 - 30 MA cross on the 5 min chart for my trigger point on a trade. Obviously I look at the longer time frame for general direction, and then wait for the cross. Anyone else use a similar technique for entry? Right now I wait for the setup , then patiently wait for the cross (Which is hard to do sometimes).

If so what MA's combination's have you had luck with?
  • #218,832
  • Apr 17, 2010 3:21pm Apr 17, 2010 3:21pm
Hey guys,

Am in the south of France at the moment on the mediteranean, very beautiful...

Got some time to take a look at the posts and they are all worth noting..

I have posted my charts before and I always wait for PA to show me what it's going to do so I'll give you the levels I'm looking at...

I reckon the upward movement is coming to an end and that we may have one more push North before we descend into the abyss...

I cannot see 5550 broken as it is a strong resistance on my charts and I reckon we starting to tire out...

If 5380 breaks and we can break 5330 then we are going South, no doubt.

Will be interesting to see where the market opens on sunday evening, I wont be here as I'll be returning home but could maybe catch a quick look before bed early monday morning. If we have broken 80 by gap then we will propably go north to close gap and run to 5500 - 5550 before south.

I know it sounds confusing but there are basically just 2 levels for me 5550 and 5330, either one will set the longer term for me...

PS top of weekly trend line...
@pawpaw1000 on Twitter
  • #218,833
  • Apr 17, 2010 3:22pm Apr 17, 2010 3:22pm
hi all

its a great day for kill family kill junior is here
Attached Image
  • #218,834
  • Apr 17, 2010 3:26pm Apr 17, 2010 3:26pm
Congratulations Kill!
  • #218,835
  • Apr 17, 2010 3:27pm Apr 17, 2010 3:27pm
Quoting kill56
hi all

its a great day for kill family kill junior is here
Congrats on the new arrival papa hitman.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #218,836
  • Apr 17, 2010 3:30pm Apr 17, 2010 3:30pm
Nice Kill...
@pawpaw1000 on Twitter
  • #218,837
  • Apr 17, 2010 3:30pm Apr 17, 2010 3:30pm
ciigar and candy for all
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  • #218,838
  • Apr 17, 2010 3:32pm Apr 17, 2010 3:32pm
Quoting kill56
hi all

its a great day for kill family
Quoting kill56
kill junior is here


have a great time kill..
  • #218,839
  • Apr 17, 2010 3:55pm Apr 17, 2010 3:55pm
Quoting malcolmb14
err did you see Citifx's books where they show all orders. What advantage do they have to tell you what they are doing.

The advantage is easy . They tell you they are going long so you go long driving price up some for them to actually sell into ...... pretty damn simple.

Learn to read your own charts and make up your own mind .
great advice
  • #218,840
  • Apr 17, 2010 3:57pm Apr 17, 2010 3:57pm
Quoting kill56
ciigar and candy for all
Congratulation bro
Yeah Love cigar , is that Cobain cigar
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