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Cable Update (GBPUSD)

  • #221,981
  • Edited 8:09pm Apr 27, 2010 7:54pm | Edited 8:09pm
This is going to be a tough battle for these currencies to move up.

Eventually one side will give in for a time and LDN will set the move..

We'll see....

When in doubt stay out.

For Cloggie
"Don't pick bottoms, you may come up with smelly fingers"

Is an old Futures Gold pit trader's saying I heard from a friend in the industry.
I think it's funny and has some truth to it.

Geeze how many bottoms have cable and fibre blown thru today!!!!!!!

Edit: "this will not be for the faint of heart" - Magix
That is for sure buddy! I do think as well re-trace is in order. Not stacking cards yet though.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #221,982
  • Apr 27, 2010 8:10pm Apr 27, 2010 8:10pm
Quoting forexlion
http://www.derok.net/images/sports/tanking.jpg

PARADE .......... GO SIDEWAYS
  • #221,983
  • Apr 27, 2010 8:21pm Apr 27, 2010 8:21pm
when I first started trading back around 2005, fibre was only like 1.18. that was "normal" then ha ha

also folks don't forget FOMC is tomorrow, that should cause some weirdness in the leadup to it and perhaps afterwards. might even cause some kind of reversal, depending.

h.

Quoting XTrade
THis is something I am questioning, Lost on my longs from yesterday fotunately triggering a short. Long position in gold working nicely.

Fibre Keeps printing new lows seems like any breakouts north on cable and fibre may just be crushed by shorts.

At this rate fibre will break into the .2000's!

Like Magix said there will be a retrace but when....
"The real genius is knowing when to stop." - Marc Faber
  • #221,984
  • Apr 27, 2010 8:56pm Apr 27, 2010 8:56pm
wow

this is real fast

a new firefox add on fastun loads forexfactory in exactly 1 second with all the images to boot
  • #221,985
  • Apr 27, 2010 10:18pm Apr 27, 2010 10:18pm
Quoting forexlion
http://www.derok.net/images/sports/tanking.jpg

volumes are low

so for now it is 5287

if broken then 5328 max

http://img693.imageshack.us/img693/9379/cablef.gif
  • #221,986
  • Apr 27, 2010 10:34pm Apr 27, 2010 10:34pm
friggin 3 pips from tp, this is teasing to the limits !!!

http://img714.imageshack.us/img714/1043/cable.gif
  • #221,987
  • Apr 27, 2010 10:52pm Apr 27, 2010 10:52pm
I go for a retrace before news, we might have a channel also.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd27fev10.gif Size: 29 KB
  • #221,988
  • Apr 27, 2010 10:52pm Apr 27, 2010 10:52pm
newbie here: long at 1.5263 ; limit at 1.5320. what do you think?

Quoting bbakker
I like that... still waiting but thinking on the same lines!
Attached Image (click to enlarge)
Click to Enlarge Name: Long5263.jpg Size: 126 KB
  • #221,989
  • Apr 27, 2010 11:06pm Apr 27, 2010 11:06pm
Quoting forexlion
friggin 3 pips from tp, this is teasing to the limits !!!

http://img714.imageshack.us/img714/1043/cable.gif
same 3 pip difference on second attempt

decided to quit the longs here

http://img693.imageshack.us/img693/8058/cabler.gif
  • #221,990
  • Apr 27, 2010 11:32pm Apr 27, 2010 11:32pm
hammer on 15 min. going long until 5325
  • #221,991
  • Apr 28, 2010 12:02am Apr 28, 2010 12:02am
Quoting forexlion
same 3 pip difference on second attempt

decided to quit the longs here

http://img693.imageshack.us/img693/8058/cabler.gif
nice 20 pips closed here

this bugger will drop some

do not forget 4 hour and daily before u pull the trigger

plus the PA does not support longs right now
  • #221,992
  • Apr 28, 2010 12:08am Apr 28, 2010 12:08am
Quoting forexlion
nice 20 pips closed here

this bugger will drop some

do not forget 4 hour and daily before u pull the trigger

plus the PA does not support longs right now
if 5254 holds as support then i will reconsider my options

else

i will prefer to sit on the fence with the +20 collected and keep myself busy with bird watching on the beach http://img534.imageshack.us/img534/747/beachvolley.jpg
  • #221,993
  • Apr 28, 2010 12:08am Apr 28, 2010 12:08am
What is PA?


Quoting forexlion
nice 20 pips closed here

this bugger will drop some

do not forget 4 hour and daily before u pull the trigger

plus the PA does not support longs right now
  • #221,994
  • Apr 28, 2010 12:26am Apr 28, 2010 12:26am
Quoting Bull_Bear
WB let me acknowledge your work mate

I got caught on the wrong side but not so damaging.
Q thanks
We all get caught on the wrong side at times bro, pretty sure you'll get those back

Btw, does seem to me like cable is more likely to test yesterday's hi ard 5450 level, close below 5170 negates this setup tho.
let's see how the day close.
Hope you're trading well bro. Good luck!
Thank You
  • #221,995
  • Apr 28, 2010 12:38am Apr 28, 2010 12:38am
Quoting wormboy
Q thanks
We all get caught on the wrong side at times bro, pretty sure you'll get those back

Btw, does seem to me like cable is more likely to test yesterday's hi ard 5450 level, close below 5170 negates this setup tho.
let's see how the day close.
Hope you're trading well bro. Good luck!
wormie

we saw 2 high volume bars on daily

and then a low volume dump yesterday

what does that tell u, what are the pros up to

the buggers sold heavily at the tops

http://img42.imageshack.us/img42/8392/cableq.gif
  • #221,996
  • Apr 28, 2010 12:41am Apr 28, 2010 12:41am
Quoting forexlion
wormie

we saw 2 high volume bars on daily

and then a low volume dump yesterday

what does that tell u, what are the pros up to

the buggers sold heavily at the tops

http://img42.imageshack.us/img42/8392/cableq.gif

and in the month of April it has been high volume with 5100 holding as support

what is cooking here ?????????

http://img203.imageshack.us/img203/1043/cable.gif
  • #221,997
  • Apr 28, 2010 12:47am Apr 28, 2010 12:47am
Quoting onrac1
What is PA?
PA is Price Action

http://img689.imageshack.us/img689/4...lassistant.jpg
  • #221,998
  • Apr 28, 2010 12:49am Apr 28, 2010 12:49am
Quoting forexlion
if 5254 holds as support then i will reconsider my options

else

i will prefer to sit on the fence with the +20 collected and keep myself busy with bird watching on the beach http://img534.imageshack.us/img534/747/beachvolley.jpg
sometimes its good to sit on the fence

this is why traders loose, cause they try to trade every move

trade only when you are sure about the trend

when in doubt, hell there is plenty of space on the fence
  • #221,999
  • Apr 28, 2010 12:51am Apr 28, 2010 12:51am
Hi Everybody

WOW That was a big rejection on the GU nearly took my Trailing stop might be a bit tight
BE THE BEST YOU CAN BE AND BE IT TODAY
  • #222,000
  • Apr 28, 2010 12:53am Apr 28, 2010 12:53am
4 bars on 15 min

all 4 stopping just 3 pips more my itended target of 5287

on the second bar, i threw the towel and closed the longs

sometimes learning PA is better than trusting indicators

http://img96.imageshack.us/img96/1043/cable.gif
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