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Cable Update (GBPUSD)

  • #220,881
  • Apr 23, 2010 3:47am Apr 23, 2010 3:47am
FTSE getting close to yesterday's high of 5720, now at 5719. If resistance holds there, cable should head south shortly. Am short 5360
  • #220,882
  • Apr 23, 2010 3:51am Apr 23, 2010 3:51am
Quoting cloggie
FTSE getting close to yesterday's high of 5720, now at 5719. If resistance holds there, cable should head south shortly. Am short 5360
5350 seems like a very strong support.. but once it breaks, I think it will break hard..
  • #220,883
  • Apr 23, 2010 3:51am Apr 23, 2010 3:51am
Quoting wormboy
look at euro go ..
come on cable. time to die
EUR up on rumours that Greece to ask for IMF/EU aid at 11:00 CET
  • #220,884
  • Apr 23, 2010 3:51am Apr 23, 2010 3:51am
Quoting cloggie
FTSE getting close to yesterday's high of 5720, now at 5719. If resistance holds there, cable should head south shortly. Am short 5360
Took also short at 1.5355, but pa is not very convicing yet, hope with a bit of time delay we see this puppy plunge.
  • #220,885
  • Apr 23, 2010 3:52am Apr 23, 2010 3:52am
short at 5358, 5ma coming down hard, hopefully break 5350. let's GO!
  • #220,886
  • Apr 23, 2010 3:52am Apr 23, 2010 3:52am
  •  melba
  • | Joined Nov 2009 | Status: ...just surfing the wave... | 97 Posts
Quoting cloggie
Nothing wrong with your trend, stops need to be set above the resistance on H1/H4 especially on freaky friday. 538 held on M5/15 so your short was valid you just need to do a bit of research on your stops. Guess you get stopped out quite a bit for the PA to continue in your direction?
thks cloggie .....for res on h1 , do u take a previous high or a top of trend line ? ..or something else ? ..just to check on my system..
  • #220,887
  • Apr 23, 2010 3:53am Apr 23, 2010 3:53am
any trade sugestion before the news?
  • #220,888
  • Apr 23, 2010 3:55am Apr 23, 2010 3:55am
Quoting melba
..hi lex , ..maybe like yesterday , some buying on bad news ..and then drifting again ...we'll see ..
yesterday actually the opposite happened, we had spike up and then it was sold into it (as in previous 3 days) so overall i see weakness in cable. but today is strange... but from fundamental point of view things just dont look good for cable, inflation rate goes up GDP gwrowth goes down unemployment record high there is just nothing positive about it in my view...

EDIT:still got 1/4 of my short running from 1.5468, maybe we will see 1.52+-50 today but at the moment im not liking this PA one bit.
  • #220,889
  • Apr 23, 2010 3:55am Apr 23, 2010 3:55am
Quoting melba
thks cloggie .....for res on h1 , do u take a previous high or a top of trend line ? ..or something else ? ..just to check on my system..

Always the lows and highs, look at H1 now there is resistance at 5397 and support at 53145-5325. Always draw your SR's on with a crayon, not a pencil they are zones of support not exact numbers.
  • #220,890
  • Apr 23, 2010 3:57am Apr 23, 2010 3:57am
greece is a walking dead man
  • #220,891
  • Apr 23, 2010 3:58am Apr 23, 2010 3:58am
Its gonna move up. guys. Still long and waiting for selloff later
  • #220,892
  • Apr 23, 2010 3:58am Apr 23, 2010 3:58am
short at 69 tp at 36 .... is the TP too near?
  • #220,893
  • Apr 23, 2010 3:59am Apr 23, 2010 3:59am
  •  melba
  • | Joined Nov 2009 | Status: ...just surfing the wave... | 97 Posts
Quoting cloggie
Always the lows and highs, look at H1 now there is resistance at 5397 and support at 53145-5325. Always draw your SR's on with a crayon, not a pencil they are zones of support not exact numbers.
thks cloggie ....i do about the same as you then ...should have put my sl a bit above.....
  • #220,894
  • Apr 23, 2010 4:01am Apr 23, 2010 4:01am
PA is testing 15350 over and over, it can't hold too much longer
  • #220,895
  • Apr 23, 2010 4:01am Apr 23, 2010 4:01am
Quoting andycs
EUR up on rumours that Greece to ask for IMF/EU aid at 11:00 CET
i dunno about that one.

but somehow the surge up on eu is not that surprising. Only surprising thing is it manage to punch thru dp with relative ease.

Earlier chart:
1. http://www.forexfactory.com/showpost...postcount=6257

Rumours however, are just that - rumours. Only charts for me
Thank You
  • #220,896
  • Apr 23, 2010 4:03am Apr 23, 2010 4:03am
it look so sexy
Attached Image (click to enlarge)
Click to Enlarge Name: 15m.gif Size: 24 KB
  • #220,897
  • Apr 23, 2010 4:05am Apr 23, 2010 4:05am
Wow, what a messy session this has turned out to be
Just my 2 cents worth
  • #220,898
  • Apr 23, 2010 4:06am Apr 23, 2010 4:06am
Quoting cloggie
FTSE getting close to yesterday's high of 5720, now at 5719. If resistance holds there, cable should head south shortly. Am short 5360

Am out at BE minus my commission, FTSE is not slowing down, fibre is taking off. Waiting for the markets to make a bit more sense here.

EDIT: be careful shorters.
  • #220,899
  • Apr 23, 2010 4:06am Apr 23, 2010 4:06am
Quoting Saxon
PA is testing 15350 over and over, it can't hold too much longer
I agree. Got my SL above DP and hoping for a good drop
  • #220,900
  • Apr 23, 2010 4:09am Apr 23, 2010 4:09am
gotta love this volatility!
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