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Cable Update (GBPUSD)

  • #220,621
  • Apr 22, 2010 12:23pm Apr 22, 2010 12:23pm
This is just some cross pair analysis..

Ej seems to find support at about 123.50. My entry is not as good as I entered @ 123.70. Hopefully, it can closed above the previous candle, if that true, I think the fiber & cable might also has found support.

Until it closed, I can never confirm this.. so let's see..
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 31 KB
  • #220,622
  • Apr 22, 2010 12:24pm Apr 22, 2010 12:24pm
Quoting A-speculator
yups, me too.. However i think it is important for us to see where current 4h candle close.. If we get rejection @ 5350, we might stand a chance, if not.. we better have an exit plan..
so far so gd, 5350 seems ok. now looking if we can break 80, followed by 54, thereafter, we shld be safer already
  • #220,623
  • Apr 22, 2010 12:30pm Apr 22, 2010 12:30pm
I think you go short below 5350
  • #220,624
  • Apr 22, 2010 12:32pm Apr 22, 2010 12:32pm
Quoting Clairvoyant
so far so gd, 5350 seems ok. now looking if we can break 80, followed by 54, thereafter, we shld be safer already
well I think 5380 is not a significant resistance anymore (because of 5350 and 5380 is so close together), the resistance that I like to see is @ 5435..

Sorry, this chart is posted from my netbook (maybe you see a different fibo level compared to my previous chart, I seldom change my fibo level).. The chart that I use to trade is actually on my other laptop, but anyway, I think it's still good.
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Click to Enlarge Name: chart.gif Size: 32 KB
  • #220,625
  • Apr 22, 2010 12:38pm Apr 22, 2010 12:38pm
Hi Guys

Cardinal sin today, went against my strategy. Carried on selling GU instead of booking longs back up and look where we are now. This is now going to take a little time to wash through. Still, level for the day (well down 5 pips net) so not a disaster, but alllllllllll that time wasted
  • #220,626
  • Apr 22, 2010 12:42pm Apr 22, 2010 12:42pm
Quoting extraneo
I think you go short below 5350

....especially if the candle 4H (18:00 gmt) closes below 5350
  • #220,627
  • Apr 22, 2010 12:42pm Apr 22, 2010 12:42pm
Quoting OldReigatian
Hi Guys

Cardinal sin today, went against my strategy. Carried on selling GU instead of booking longs back up and look where we are now. This is now going to take a little time to wash through. Still, level for the day (well down 5 pips net) so not a disaster, but alllllllllll that time wasted
Relax ma man.. i use to be in that position before.. It's just a moment to remember in this game of risk..
  • #220,628
  • Apr 22, 2010 1:18pm Apr 22, 2010 1:18pm
huh.. so quiet..

I assume everyone now asleep.. no?
  • #220,629
  • Apr 22, 2010 1:22pm Apr 22, 2010 1:22pm
Hi there,
What a day today...
Tomorrow we have UK GDP release and maybe it should act as a engine to fire PA up.
It's obvious to me that the down movement we saw today is related to teh EUR drop, so GBOUSD has no more strengh to going south.
That said i expect PA moving up in next sessions. Maybe Asian session ou tomorrow european session.
Any thoughts?
  • #220,630
  • Apr 22, 2010 1:23pm Apr 22, 2010 1:23pm
Quoting A-speculator
huh.. so quiet..

I assume everyone now asleep.. no?
no man somken the pipe
  • #220,631
  • Apr 22, 2010 1:26pm Apr 22, 2010 1:26pm
Quoting Alado
Hi there,
What a day today...
Tomorrow we have UK GDP release and maybe it should act as a engine to fire PA up.
It's obvious to me that the down movement we saw today is related to teh EUR drop, so GBOUSD has no more strengh to going south.
That said i expect PA moving up in next sessions. Maybe Asian session ou tomorrow european session.
Any thoughts?
For that to happen, I think we might see several test/retest at the 5350 level before eu session, if the news so good, then maybe several retest @ 5380/5400.. we'll never know that for sure, just let the PA guide us..
  • #220,632
  • Apr 22, 2010 1:28pm Apr 22, 2010 1:28pm
Quoting kill56
no man somken the pipe
I think you must stop supplying people with those pipes.. look what happen now? Everyone high already..
  • #220,633
  • Apr 22, 2010 1:29pm Apr 22, 2010 1:29pm
Quoting A-speculator
huh.. so quiet..

I assume everyone now asleep.. no?
nope. Just lost 10% of my account so I'm sitting out for a while and re-evaluating things to try to figure out why I loose on cable on 7 out of 10 trades.
  • #220,634
  • Apr 22, 2010 1:30pm Apr 22, 2010 1:30pm
Looks like an inverted head and shoulders on the 4hour. do you guys agree? if yes then we are going to the moon
  • #220,635
  • Apr 22, 2010 1:31pm Apr 22, 2010 1:31pm
Quoting kill56
no man somken the pipe
ha ha, greeny(turkish) all the way kill, enjoy!
  • #220,636
  • Apr 22, 2010 1:35pm Apr 22, 2010 1:35pm
Quoting Ineedpips9
nope. Just lost 10% of my account so I'm sitting out for a while and re-evaluating things to try to figure out why I loose on cable on 7 out of 10 trades.
Sorry to hear that mate..

Hope you're not given up..
  • #220,637
  • Apr 22, 2010 1:36pm Apr 22, 2010 1:36pm
Quoting pacha group
Looks like an inverted head and shoulders on the 4hour. do you guys agree? if yes then we are going to the moon
Sorry mate, I didn't see that, care to post chart?
  • #220,638
  • Apr 22, 2010 1:38pm Apr 22, 2010 1:38pm
Hey guys ive seen a few charts that have an ATR indie giving the days range in pips in the corner...anybody have a good one to share?
THX in advance
  • #220,639
  • Apr 22, 2010 1:44pm Apr 22, 2010 1:44pm
Quoting free4440273
3rd consecutive day of selling the news -- hope so
make it four tomorrow! Take care guys and catch u later cable
  • #220,640
  • Apr 22, 2010 1:48pm Apr 22, 2010 1:48pm
Quoting A-speculator
Sorry to hear that mate..

Hope you're not given up..
Nope. Not giving up. Always wanted to trade and now I'm finally doing it. Besides, after four years of job hunting after college and coming up short, really don't have a choice with all the time on my hands.Just wished I'd known about how bad the economy was gonna be at least two years ago so I wouldn't have spent all those frustrating days looking for a job and spent more on just learning to work for myself. Now that I've gotten a little experience I see I could've shorted cable and eur/usd and done pretty well.Owell lesson learned. I do wish cable moved in the New York session like it does in the London sessions. Trying to wake up at 4:30 AM ET is tough.
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