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Cable Update (GBPUSD)

  • #223,741
  • May 5, 2010 2:07am May 5, 2010 2:07am
Quoting wormboy
"they" see it too now ....

-----------------------------------------------------------------------------------------

Sterling on the cusp of a big move...
i completely agree with u i also think that pund will go high the bollinger bands are also showing some long opportunity here
  • #223,742
  • May 5, 2010 2:08am May 5, 2010 2:08am
Morning all! Hope you all had a green day yesterday. i likes a good slaughter Many more greenies today i hope.
  • #223,743
  • May 5, 2010 2:11am May 5, 2010 2:11am
Quoting pawpaw1000
wouldnt it be better to draw your fib from the 4h chart? have a look at 4h and see the at is more accurate...

But to each his own...

EDIT: looks like people are a bit nervous to trade before the elections 2moro? LO moved us 15 pips...
Morning paw,

i only wanted to fib the southmove from yesterday and in 15min i see the possible retraces more clear, but for the bigger picture you are definatly right with 4h, good trading day to you
  • #223,744
  • May 5, 2010 2:21am May 5, 2010 2:21am
Hey guys,

Construction PMI numbers will be 58.2 today, rising from the previous month’s reading of 53.1. It increased during April for a second successive month, and at the strongest rate since September 2007. Gbp should be bullish
  • #223,745
  • May 5, 2010 2:22am May 5, 2010 2:22am
Quoting dag777
Morning paw,

i only wanted to fib the southmove from yesterday and in 15min i see the possible retraces more clear, but for the bigger picture you are definatly right with 4h, good trading day to you
@pawpaw1000 on Twitter
  • #223,746
  • May 5, 2010 2:28am May 5, 2010 2:28am
Attached Image (click to enlarge)
Click to Enlarge Name: gu5.gif Size: 19 KB

bounced at pivot so my PO didn't trigger. cancel it.
i look for sell signal now below the MA.
5m chart 200EMA and 24SMA seems gonna cross. sit back and watch the PA react to those MA's. till then... back to work
i'll do my best, and let the old lady decide where she wanna go
  • #223,747
  • May 5, 2010 2:28am May 5, 2010 2:28am
What's the bias for the day in here this morning?? I'm feeling a little bullish after yesterday's drop, and I like the 4hr - clean bounce off sloping support. Any thoughts?
  • #223,748
  • May 5, 2010 3:07am May 5, 2010 3:07am
gbp

bat-buttrfly
ELLIOT WAVE
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbp m3o.gif Size: 105 KB
  • #223,749
  • May 5, 2010 3:11am May 5, 2010 3:11am
Quoting The Magician
What's the bias for the day in here this morning?? I'm feeling a little bullish after yesterday's drop, and I like the 4hr - clean bounce off sloping support. Any thoughts?
I'm bearish this morning and got in at the right price too.
  • #223,750
  • May 5, 2010 3:12am May 5, 2010 3:12am
Quoting The Magician
What's the bias for the day in here this morning?? I'm feeling a little bullish after yesterday's drop, and I like the 4hr - clean bounce off sloping support. Any thoughts?
I'm holding a small long in Cable ... no idea about the bias ....
  • #223,751
  • May 5, 2010 3:23am May 5, 2010 3:23am
Quoting dag777
Good Morning all,

on my 15min we are approaching 50fib (1.5176) of yesterdays 1.5263 to 1.5089 and 150sma.
Opportunity to short? London will tell.
the short from LDN open played out nice, for the rest of the day i expect rangebound between 1.5090 and 1.5210, till tomorrows election
  • #223,752
  • May 5, 2010 3:40am May 5, 2010 3:40am
so today is the day we let it all hang out. I'm glad all us kids can find civilised ways to amuse ourselves when price action is boring.
"The real genius is knowing when to stop." - Marc Faber
  • #223,753
  • May 5, 2010 3:43am May 5, 2010 3:43am
Quoting wormboy
welp, that's my po being triggered for the long positioning mentioned yesterday.
Emergency stop will be moved to bep at the hi close 5220 with 5380 being the first target for partial profit to be taken. Remaining positions will be left for higher targets if possible.
let's see how it goes. Good luck
Trade closed manually @5140 for 12 pips profit after price failed to clear dp & turned back down below day open price. A lot of uncertainty atm with buyers & sellers still going at it.
Position is now flat & will wait to short if price close below the ascending ltl or buy once price close above dp cleanly.

Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.gif Size: 25 KB
Thank You
  • #223,754
  • May 5, 2010 3:43am May 5, 2010 3:43am
Quoting hhitch
so today is the day we let it all hang out. I'm glad all us kids can find civilised ways to amuse ourselves when price action is boring.
I'm still waiting for a entry, only had 50 pip range and PA has NO direction. Unless you scalping, why trade?
@pawpaw1000 on Twitter
  • #223,755
  • May 5, 2010 3:45am May 5, 2010 3:45am
So were stuck in a symetrical triangle here.. I shorted from the pivot but got out after 10 pips, thought it might break to up side due to recent drop. We broke a symetrical triangle on the 4h, but i might have a short term long bias. we bounce off a declining support line as well on 4h. and that election tomorrow. so I'm going to be carefull! Good luck to those with the recent bad luck, take it easy. Happy trading!
  • #223,756
  • May 5, 2010 3:46am May 5, 2010 3:46am
Quoting pawpaw1000
I'm still waiting for a entry, only had 50 pip range and PA has NO direction. Unless you scalping, why trade?
unless 5100 s broken, cable will go up

i would t target 5200 for short entry
  • #223,757
  • May 5, 2010 3:51am May 5, 2010 3:51am
Quoting The Magician
Yes mate, had an unbelievable amount of bad luck. Afraid to go out at the moment in case lightning hits me, ha! Yeh I'm trading full time forex, also work as a corporate magician and have a few other interests. But need to crack this forex lark big time! I love it, but still not as good as I need to be. How are you getting on now? I know you've stopped losing so much, but are you making much yet?
aah mate, I've lost like 40% of my account by trying a new strategy without testing it 1st... I guess I'm like all noobs thinking, "I'm not like the rest". Now I've had two different people helping me with my Chart setups and am now practising to get it right. Interestingly both recommended i get my trades from the London Open and then trade from there. Which is a good strategy in my book.

Today it aint working since there's been no breakout. Will look at this triangle developing on H1 or wedge or whatever you want to call it, for a possible breakout!

Currently using MA's and Fibo's with channels and TL's... Will stick with this until I master it. I've given myself a year to become profitable and 4 months in, I've learnt ALOT! Hoping to have a really good month in may but will have to see...

Good luck mate, I really hope you crack the Forex!
@pawpaw1000 on Twitter
  • #223,758
  • May 5, 2010 3:52am May 5, 2010 3:52am
Quoting forexlion
unless 5100 s broken, cable will go up

i would t target 5200 for short entry
thanks lion, currently watching triangle...
@pawpaw1000 on Twitter
  • #223,759
  • May 5, 2010 3:52am May 5, 2010 3:52am
Quoting The Magician

Rant over!! Long at 132
Out at 158 for 26 pips. Want to see how it reacts with DP before taking another position
  • #223,760
  • May 5, 2010 3:53am May 5, 2010 3:53am
think so?

Quoting free4440273
nice headfake
"The real genius is knowing when to stop." - Marc Faber
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