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Cable Update (GBPUSD)

  • #220,201
  • Apr 21, 2010 10:44am Apr 21, 2010 10:44am
Quoting hhitch
yeah I've been watching for the last three days as USD/CHF holds higher and higher and cable stays high as well. Usually when USD/CHF goes up, cable goes down. This has been some major divergence. something will give at some point... so far it's been USD/CHF as cable holds on via sentiment
i think it currently testing the resistance..
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  • #220,202
  • Apr 21, 2010 10:48am Apr 21, 2010 10:48am
Quoting A-speculator
Patience bro.. perhaps you might need some of the patience pills..
i need a freaking pharmacy full of those pills ) short for 2 days now ( good thing moved my stop 9 pip higher to 5444 before it went up to 40 and then reversed ) ) scalping of course on sub account but i really wish it would just collapse ) I just cannot find rational explanation (except coming election (is that rational enough??)) for cable strength... well actually one possible is that EURGBP been used to hedge against Euro fall to some extend ..perhaps interventions of swissy central bank led to people avoiding CHF as a hedge ..... duno....
  • #220,203
  • Apr 21, 2010 10:50am Apr 21, 2010 10:50am
Quoting A-speculator
i think it currently testing the resistance..
see that's the thing... both swissie and cable are testing resistance... at the same time! my vote is on cable because after all this it hasn't broken down and it's running purely on sentiment. not saying I know for sure, it's just a guess...
"The real genius is knowing when to stop." - Marc Faber
  • #220,204
  • Apr 21, 2010 10:51am Apr 21, 2010 10:51am
Quoting A-speculator
I can't help to say this but please don't take this seriously. Normally a wedge at the upper level have the tendency to break to the down side rather than the upside.. However, to be safe.. better to wait for clear breakout first then take a position at the pullback.. so that you can sleep in peace, unless of course if you are daytrading it, then trading any direction would not be a problem..

We also have to bear in mind the buy the rumor, sell the new :"Deutsche Bahn supervisory board has approved bid of 775 pence/share for UK’s Arriva"

That has pushed the pair down a bit.


let's see now if it bounces upafter the number beeing cleared out
  • #220,205
  • Apr 21, 2010 10:55am Apr 21, 2010 10:55am
Quoting jackdan
We also have to bear in mind the buy the rumor, sell the new :"Deutsche Bahn supervisory board has approved bid of 775 pence/share for UK’s Arriva"

That has pushed the pair down a bit.


let's see now if it bounces upafter the number beeing cleared out

looks to me as if gu is just following usa market now uk closed.
  • #220,206
  • Apr 21, 2010 10:59am Apr 21, 2010 10:59am
I didn't know about that Deutsche stuff, but yes cable always follows US equities, at least it has lately... looks like it may get a leg up...

Quoting winsome
looks to me as if gu is just following usa market now uk closed.
"The real genius is knowing when to stop." - Marc Faber
  • #220,207
  • Apr 21, 2010 11:00am Apr 21, 2010 11:00am
Quoting lexazver
i need a freaking pharmacy full of those pills ) short for 2 days now ( good thing moved my stop 9 pip higher to 5444 before it went up to 40 and then reversed ) ) scalping of course on sub account but i really wish it would just collapse ) I just cannot find rational explanation (except coming election (is that rational enough??))...
I don't think cable will collapse, maybe will only be a retracement.. The level that i will be watching is at about 5250.. As you can see 4h cable, we have 1 long tailed shooting star and about to have another one.. yes, I think it will retrace a bit..

From my past experience, to try to find a fundamental reason why the price move might not be a good idea.. Normally, the fundamental can explain only half of the "whys", but technical can explain all of it.. so I would suggest, just stick with your chart.. you will be better off trading that way.. imho..
  • #220,208
  • Apr 21, 2010 11:06am Apr 21, 2010 11:06am
Quoting A-speculator
I don't think cable will collapse, maybe will only be a retracement.. The level that i will be watching is at about 5250.. As you can see 4h cable, we have 1 long tailed shooting star and about to have another one.. yes, I think it will retrace a bit..

From my past experience, to try to find a fundamental reason why the price move might not be a good idea.. Normally, the fundamental can explain only half of the "whys", but technical can explain all of it.. so I would suggest, just stick with your chart.. you will be better off trading that...

|I guess collapse is a strong word, 1.5250 would be perfect the lower the better....
  • #220,209
  • Apr 21, 2010 11:07am Apr 21, 2010 11:07am
Quoting jackdan
We also have to bear in mind the buy the rumor, sell the new :"Deutsche Bahn supervisory board has approved bid of 775 pence/share for UK’s Arriva"

That has pushed the pair down a bit.


let's see now if it bounces upafter the number beeing cleared out

Pardon me bro, but which pair are u talking about? EG or GU?
  • #220,210
  • Apr 21, 2010 11:07am Apr 21, 2010 11:07am
its a doomed market from now till the oil close and may be will see some action
  • #220,211
  • Apr 21, 2010 11:09am Apr 21, 2010 11:09am
Quoting kill56
its a doomed market from now till the oil close and may be will see some action
Kill my good friend , hope you had lots of greenie today
  • #220,212
  • Apr 21, 2010 11:10am Apr 21, 2010 11:10am
Quoting lexazver
|I guess collapse is a strong word, 1.5250 would be perfect the lower the better....
Yeah.. but control your itchy finger from shorting it.. let's just wait till that level and go long after it exhausted..

Take some of the patience pills bro..
  • #220,213
  • Apr 21, 2010 11:13am Apr 21, 2010 11:13am
Quoting digger1
Kill my good friend , hope you had lots of greenie today
thank god bro it was realy good how about u
  • #220,214
  • Apr 21, 2010 11:13am Apr 21, 2010 11:13am
Quoting A-speculator
Pardon me bro, but which pair are u talking about? EG or GU?
I meant EG.
  • #220,215
  • Apr 21, 2010 11:14am Apr 21, 2010 11:14am
Quoting A-speculator
Yeah.. but control your itchy finger from shorting it.. let's just wait till that level and go long after it exhausted..

Take some of the patience pills bro..
I am in the short from 5430, SL @ 5425

timberrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
  • #220,216
  • Apr 21, 2010 11:15am Apr 21, 2010 11:15am
Quoting TheCatsPJs
Hi All!
I have been following this thread for a bit now an have recently join the website.
Do any of you scalp the intraday cable? would love to bounce some ideas about!
90pips today from 13 trades. I mainly use price action, fibo, and MACD div for my set ups
Also I use doubling of risk capital in 3 trades approach which i can send to anyone that requires a look-see.
Finally do most of you guys and gals trade off the MT4 charts direct or do you use a seperate broker platform. I am using FXCM Active trader currently.
Hope to make a few new buddies...
I use MBTrading Navigator platform for my trade. Been using MT4 for charting purposes.. Welcome abroad bro..
  • #220,217
  • Apr 21, 2010 11:17am Apr 21, 2010 11:17am
Quoting A-speculator
Yeah.. but control your itchy finger from shorting it.. let's just wait till that level and go long after it exhausted..

Take some of the patience pills bro..
pass him the pipe bro
  • #220,218
  • Apr 21, 2010 11:17am Apr 21, 2010 11:17am
Quoting forexlion
I am in the short from 5430, SL @ 5425

timberrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
serious?
whats your TP then?
  • #220,219
  • Apr 21, 2010 11:19am Apr 21, 2010 11:19am
Quoting jackdan
I meant EG.
I see.. look att daily bro, 3 black crows is forming and currently the price is testing the ltl.. I assume you long this pair. My suggestion is; if it breaks the lower trendline (meaning have a close lower than the ltl) you better rethink of your position bro..
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  • #220,220
  • Apr 21, 2010 11:20am Apr 21, 2010 11:20am
Quoting kill56
thank god bro it was realy good how about u
Ah its been a good day , eur shts were good , just trying to tickle wormies stps there lol, seems your gbpusd bears showed about the same place as yesterday so once again hedgeing my longs , these longs starting to feel like dead weight ha ha , keep the greenie coming my friend
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