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Cable Update (GBPUSD)

  • #220,341
  • Apr 22, 2010 1:41am Apr 22, 2010 1:41am
Good Morning guys,

do we see a test of last weeks high (15. April 1.5523) and then downturn or break to the upside?
In 20 min. we will see direction. Wish everybody green pips today.
Attached Image (click to enlarge)
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  • #220,342
  • Apr 22, 2010 1:41am Apr 22, 2010 1:41am
Quoting XTrade
On H1 & H4 I am looking to first re-test 5500. Maybe we will not move straight up. Yet, If news permits and Goldman Sachs is not accused of fraud overnight
My sights are set on this as target "area" #1.

Where are you seeing all the weakness Paw?
I dont see any weakness, I am saying that we are nearing my weekly mid high and also adr high so we could see some consolodation...
@pawpaw1000 on Twitter
  • #220,343
  • Apr 22, 2010 1:42am Apr 22, 2010 1:42am
Quoting pawpaw1000
I'm looking long longer term but am trading day to day and I believe today wont be just up, we are close to my adr high and so am looking for a place to go shorter depending on my fibos and emas...
okay. good luck with your trades
Thank You
  • #220,344
  • Apr 22, 2010 1:42am Apr 22, 2010 1:42am
Hi all,

Why keep buying at resistance? I think it's not good idea because GBPx already overbought & could drop any time. I might be wrong.
  • #220,345
  • Edited 1:54am Apr 22, 2010 1:50am | Edited 1:54am
We just broke multiple intraday resistance areas.

First the simple TL has to be violated and held. Next one would need negative EUR / LDN news.

For the most part the forecasts are positive. THe US is not the only economy important when trading....

If the news rack (which is loaded) is in favorable EUR /LDN, I would not be surprised to see cable move 75 more pips. AND Fibre "might" fly.

This is just my view. BUT. Goldman Fraud put a HUGE damper on risk last week.
Now we are picking up the pieces yet @ a lower rate. = Potential Profit.

As always use Your own discretion and view
Good Luck!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #220,346
  • Apr 22, 2010 1:52am Apr 22, 2010 1:52am
Quoting east trader
Hi all,

Why keep buying at resistance? I think it's not good idea because GBPx already overbought & could drop any time. I might be wrong.
here is one of the reason as to why
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 16 KB
Thank You
  • #220,347
  • Apr 22, 2010 1:53am Apr 22, 2010 1:53am
I would not be surprised at all to see selling pre LDN or a headfake down by the LDN boys to wipe out a few stops and fake the market out into thinking it is time to get short....

All to then see a Massive H1 candle buy....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #220,348
  • Apr 22, 2010 1:54am Apr 22, 2010 1:54am
Hey Wormie! I with Ya!!!!
Quoting wormboy
here is one of the reason as to why
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #220,349
  • Apr 22, 2010 1:54am Apr 22, 2010 1:54am
A couple of questions. I would be very interested in peoples views on:

a) How much of a barrier do you find weekly resistance and support levels 1, 2 and 3 (excluding the weekly pivot) are when trading on an intraday basis.

b) How much of a barrier do you find daily resistance and support levels 1, 2 and 3 (excluding the daily pivot) are when trading on an intraday basis.
  • #220,350
  • Apr 22, 2010 1:55am Apr 22, 2010 1:55am
Quoting XTrade
I would not be surprised at all to see selling pre LDN or a headfake down by the LDN boys to wipe out a few stops and fake the market out into thinking it is time to get short....

All to then see a Massive H1 candle buy....
many stops above 75 too x. might just push up higher to take those out as well methinks ...
whatever it is, i'm staying with the momentum
Thank You
  • #220,351
  • Apr 22, 2010 1:56am Apr 22, 2010 1:56am
See guys, just got to work the trendlines on the larger charts. First we had the 4 hr DTL break and test. Signal candle for long in first chart. But the MACD signal earlier in the Day gave me advanced warning when most were thinking short. Took full advantage of traders thinking short off the Weekly Pivot and filled my bank account. I still see 5500 but have pulled enough profits to gaurd against pullback. If it indeed pulls back I will again use that as leverage against the market.

Jim


Quoting Nene
Testing the back of 4 hr UTL now.


Jim
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gu1.gif Size: 41 KB
  • #220,352
  • Apr 22, 2010 1:56am Apr 22, 2010 1:56am
All dips have been bought yesterday....it's not for nothing....1.5500 is on the cards
COT: The precious data ignored
  • #220,353
  • Apr 22, 2010 1:57am Apr 22, 2010 1:57am
Quoting XTrade
Hey Wormie! I with Ya!!!!
hi 5 bro!
Thank You
  • #220,354
  • Apr 22, 2010 2:01am Apr 22, 2010 2:01am
Cable stoped on ress.

Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 30 KB
  • #220,355
  • Apr 22, 2010 2:03am Apr 22, 2010 2:03am
It would not surprise me at all.


Quoting OldReigatian
Anyone think we could be heading to last weeks high of 5520?
  • #220,356
  • Apr 22, 2010 2:05am Apr 22, 2010 2:05am
Since the 2 work in tandem "at times" Here is my fibre long

Low Risk. Stop below last pivot or where comfortable - may adjust for LDN

H4 chart we are at the bottom of this wide channel. Buying started - Risk is back baby.
Attached Image (click to enlarge)
Click to Enlarge Name: Low Risk High Reward fibre trade.GIF Size: 42 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #220,357
  • Apr 22, 2010 2:06am Apr 22, 2010 2:06am
Quoting wormboy
hi 5 bro!
Time to make and take them pips!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #220,358
  • Apr 22, 2010 2:07am Apr 22, 2010 2:07am
OK, I am going to be blunt and you can fire me if you want!

Please, if you are going to post what you are trading, please post reasons for you taking those trades, and charts help also. There is a LOT of garbage being sprayed around and it is flat out confusing and it is not fair to the other people of this thread..

Thanks, Jim
  • #220,359
  • Apr 22, 2010 2:13am Apr 22, 2010 2:13am
Quoting Nene
OK, I am going to be blunt and you can fire me if you want!

Please, if you are going to post what you are trading, please post reasons for you taking those trades, and charts help also. There is a LOT of garbage being sprayed around and it is flat out confusing and it is not fair to the other people of this thread..

Thanks, Jim

already did my friend. I'm not gonna post the same chart for every 30 pips price moves

Chart:
1. http://www.forexfactory.com/showpost...stcount=220309

Regards
Thank You
  • #220,360
  • Apr 22, 2010 2:18am Apr 22, 2010 2:18am
Jim, Charts posted with explanations... On this very page 7346 of posts

Here come the LDN sell... Going long again when they are done...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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