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Cable Update (GBPUSD)

  • #222,921
  • Apr 30, 2010 2:55am Apr 30, 2010 2:55am
Quoting Makeveli
ftse just tanked 80 points , pound to follow ?
Let's hope so... got my PO at the low zone..
  • #222,922
  • Apr 30, 2010 2:55am Apr 30, 2010 2:55am
Jeez, this is tiresome. Wish it would break one way or the other. Thank the Lord for EG this morning, made lots of nice pips
  • #222,923
  • Apr 30, 2010 2:57am Apr 30, 2010 2:57am
Unemployment increased by 43,000 between December and February to 2.5m, according the last set of official figures released before the General Election.

The number of Britons out of work now stands at a 16-year high, while the number of people classed as economically inactive also reached record levels.
The latter category, which includes students, people looking after a sick relative
or those who have given up seeking work, soared by 110,000 in the latest quarter
to 8.16m, the worst figure since records began in 1971.
  • #222,924
  • Apr 30, 2010 3:00am Apr 30, 2010 3:00am
Divergence

Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 35 KB
  • #222,925
  • Apr 30, 2010 3:00am Apr 30, 2010 3:00am
poubnd should continue up today, but in ordr for it to continue it needs to retrace some, i got pending buys at 1.5320, 1.53 and 1.5280 with stop on all at 1.5265
  • #222,926
  • Apr 30, 2010 3:01am Apr 30, 2010 3:01am
Quoting OldReigatian
Jeez, this is tiresome. Wish it would break one way or the other. Thank the Lord for EG this morning, made lots of nice pips
Euro are gaining strength from what I see.. ECad, EU, EJ move so rapidly to the upside.. only cable left behind, boring movement..
  • #222,927
  • Apr 30, 2010 3:07am Apr 30, 2010 3:07am
Quoting A-speculator
Euro are gaining strength from what I see.. ECad, EU, EJ move so rapidly to the upside.. only cable left behind, boring movement..
Don't confuse yourself with multiple currency pair man.
  • #222,928
  • Apr 30, 2010 3:20am Apr 30, 2010 3:20am
timber.... 4hr macd reversing now too..down we go, ftse short doing well too... maybe at 1.30 the us gdp figures might spike us up abit
  • #222,929
  • Apr 30, 2010 3:21am Apr 30, 2010 3:21am
It does now. Cable falling precipitously.
Quoting AndyPass
Doesn't look like it wants to break through 1.535
  • #222,930
  • Apr 30, 2010 3:25am Apr 30, 2010 3:25am
Quoting Leche Mocha
It does now. Cable falling precipitously.
I know. Every pip down is like a kick in the bollocks! Ouch!
  • #222,931
  • Apr 30, 2010 3:30am Apr 30, 2010 3:30am
One more pip...
Attached Image (click to enlarge)
Click to Enlarge Name: Mr Creosote.jpg Size: 53 KB
Back to basics, it has to be for me!
  • #222,932
  • Apr 30, 2010 3:30am Apr 30, 2010 3:30am
Well, I can see that everybody is happy to see cable falling but should not be surprise if it started climbing again. I will only sell this pair if this present 1 hour candle or next close below 1.5325. This is what we are agreeing on here. But if the present or next 1 hour candle close above 1.5350 I will be buying again and 1.5400 will be a nice and fast TP.
  • #222,933
  • Apr 30, 2010 3:31am Apr 30, 2010 3:31am
1.533x to negotiate 1st... with both m5 and h1 200ma around this point. 1.520x next target if it does break with m30 and h4 200ma around this point and m15 200ma a little lower. Let's see what happens.
  • #222,934
  • Apr 30, 2010 3:32am Apr 30, 2010 3:32am
Quoting tundeakins
Well, I can see that everybody is happy to see cable falling but should not be surprise if it started climbing again. I will only sell this pair if this present 1 hour candle or next close below 1.5325. This is what we are agreeing on here. But if the present or next 1 hour candle close above 1.5350 I will be buying again and 1.5400 will be a nice and fast TP.
sounds good to me.
  • #222,935
  • Apr 30, 2010 3:34am Apr 30, 2010 3:34am
http://www.forexfactory.com/showpost...stcount=222955

http://www.forexfactory.com/showpost...stcount=222956

http://www.forexfactory.com/showpost...stcount=222957
  • #222,936
  • Apr 30, 2010 3:36am Apr 30, 2010 3:36am
Quoting bbakker
1.533x to negotiate 1st... with both m5 and h1 200ma around this point. 1.520x next target if it does break with m30 and h4 200ma around this point and m15 200ma a little lower. Let's see what happens.
The Magix thread is a good read isnt it, I'm seeing things better. Not been able to trade recently though, too much work, etc and I've learned that distractions cost money!

Missed a lot of action though

GL
Back to basics, it has to be for me!
  • #222,937
  • Apr 30, 2010 3:37am Apr 30, 2010 3:37am
Quoting tundeakins
Well, I can see that everybody is happy to see cable falling but should not be surprise if it started climbing again. I will only sell this pair if this present 1 hour candle or next close below 1.5325. This is what we are agreeing on here. But if the present or next 1 hour candle close above 1.5350 I will be buying again and 1.5400 will be a nice and fast TP.
well my view on such strategies is that they work much better on daily charts, i.e if daily closes above or below certain support/resistance values.. Reason i dont believe its a good way of trading on smaller timeframes is because you need to wait for move to establish already and then you jump in half way through...e.g. you are waiting to see whether 1h candle closes below 1.5325 to short but thats already 60pips from the top and given that daily ranges have been in region of 140-160 pips you are missing big chunk of move already (except of course last few days where it wsa 200 pips per day range) .

I think much better way is to establish s/r levels and trade of them with stops below/above them , that way your RR ratio is much improved.... just my 2 cents

BY THE WAY my first long got triggered at 1.5322
  • #222,938
  • Apr 30, 2010 3:37am Apr 30, 2010 3:37am
Quoting bbakker
1.533x to negotiate 1st... with both m5 and h1 200ma around this point. 1.520x next target if it does break with m30 and h4 200ma around this point and m15 200ma a little lower. Let's see what happens.
Weeeeeeeeeeeeeeeeee!
  • #222,939
  • Apr 30, 2010 3:41am Apr 30, 2010 3:41am
Quoting forexlion
on second thought

happy weekend folks, i am out and off the comp now
damn

i call it a weekend and sign off and cable drops to +45 pips

http://img11.imageshack.us/img11/6805/cableh.gif
  • #222,940
  • Apr 30, 2010 3:42am Apr 30, 2010 3:42am
Quoting tundeakins
Don't confuse yourself with multiple currency pair man.
ermmm.. confuse eh..
nvm, i'll wait at 5280 then..
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