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Cable Update (GBPUSD)

  • #223,921
  • May 5, 2010 6:47am May 5, 2010 6:47am
I see so many predictions here and so many bears, but for now the weekly support at 5065 is absorbing all bears like a sponge... hm, PA is good to me, I bought at 5065,

lets see how this is going to end
L
  • #223,922
  • May 5, 2010 6:48am May 5, 2010 6:48am
Quoting A-speculator
it's only a reminder.. he's currently picking bottom in the middle of a move.. I think picking bottom is ok but let the price slow down first..
Too true! But there is a lot of bad vibes over Europe at the moment and therefore an excellent reminder.
  • #223,923
  • May 5, 2010 6:49am May 5, 2010 6:49am
Quoting lexazver
stop is set at 1.2813 now so briiing on freee money

btw....im just saying....BUT all arguments on here usually involve bbaker....just something ive noticed..
100% correct,noticed the same.
  • #223,924
  • May 5, 2010 6:50am May 5, 2010 6:50am
ok now markets are just going nuts, check out USDJPY )))
  • #223,925
  • May 5, 2010 6:51am May 5, 2010 6:51am
Quoting lietuve
I see so many predictions here and so many bears, but for now the weekly support at 5065 is absorbing all bears like a sponge... hm, PA is good to me, I bought at 5065,

lets see how this is going to end
L
I think I would agree with you but the only thing I didn't trigger is because of the length of the candle.. guess I don't have the guts like you do..
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  • #223,926
  • May 5, 2010 6:52am May 5, 2010 6:52am
Quoting hhitch
fantastic! thank you!

so how would you interpret today's NYSE action so far? I would say it's going to be bearish but it starts off with a big pullback. would you agree with that? if not, please let me know!
it was expected if u look at the dow and eur the news affect the market big time and we are trading the news now
its and we might go deep down in stocks watch oil too its foooked


bro i do watch bloomberg while trading
  • #223,927
  • May 5, 2010 6:52am May 5, 2010 6:52am
ooohhh maaan everything just llooks so beautiful if only i had more money to trade now ...... )
  • #223,928
  • May 5, 2010 6:53am May 5, 2010 6:53am
Quoting hhitch
fantastic! thank you!

so how would you interpret today's NYSE action so far? I would say it's going to be bearish but it starts off with a big pullback. would you agree with that? if not, please let me know!
I would say so, although it does mean it will have to break the ltl on my 4h chart that I posted. Trendlines are there to be broken, so I am following the voodoo now. Waiting for the pullback to the 200ma on m1, then check PA for confirmation before I am short again.

Also the m5 shows the 24ma crossing the 200ma about 2 hours ago which again confirms the downtrend and short position.

Good luck!
  • #223,929
  • May 5, 2010 6:53am May 5, 2010 6:53am
Quoting msiamd
1.4900 would be around WL5. It is possible but it looks the area around ML4 and WL4 L3 is a nice support.

keep an eye on the dow bro and dixy (dollar)
  • #223,930
  • May 5, 2010 6:56am May 5, 2010 6:56am
thanks man. I see what you mean... personally I don't read lower trendlines going down, only upward sloping lower trendlines, or demand-lines... but that's just my preference! and I'm doing this on a much lower level timeline like 1 or 5 mins. do guys stay out for news like today's ISM?

Quoting bbakker
I would say so, although it does mean it will have to break the ltl on my 4h chart that I posted. Trendlines are there to be broken, so I am following the voodoo now. Waiting for the pullback to the 200ma on m1, then check PA for confirmation before I am short again.

Also the m5 shows the 24ma crossing the 200ma about 2 hours ago which again confirms the downtrend and short position.

Good luck!
"The real genius is knowing when to stop." - Marc Faber
  • #223,931
  • May 5, 2010 6:57am May 5, 2010 6:57am
Quoting bbakker
I would say so, although it does mean it will have to break the ltl on my 4h chart that I posted. Trendlines are there to be broken, so I am following the voodoo now. Waiting for the pullback to the 200ma on m1, then check PA for confirmation before I am short again.

Also the m5 shows the 24ma crossing the 200ma about 2 hours ago which again confirms the downtrend and short position.

Good luck!
It is stuggling to break 24ma on m5! If it keeps failing we will probably not see 200ma on m1!
  • #223,932
  • May 5, 2010 6:57am May 5, 2010 6:57am
if the news after this didn't break last low...
becareful.
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I will be the number one Manager.
  • #223,933
  • May 5, 2010 6:57am May 5, 2010 6:57am
Quoting A-speculator
I think I would agree with you but the only thing I didn't trigger is because of the length of the candle.. guess I don't have the guts like you do..
it's not guts, just trying to manage it, I closed half of the order at 5098, and now safely just watch what's going to happen

Cheers,
Lietuve
  • #223,934
  • May 5, 2010 6:57am May 5, 2010 6:57am
Quoting kill56
i think we will see 14900's today i might be wrong
would be nice
  • #223,935
  • May 5, 2010 6:59am May 5, 2010 6:59am
Quoting A-speculator
Maybe you can do it that way, but I'll let the price into consolidation first, then decide on picking the bottom..

Anyway, trade safe my friend..

Happy pippin..

when there is panic now often that you get consolidation, but rather erratic movements, so might as well enjoy the ride.. the key is not to overleverage..
  • #223,936
  • May 5, 2010 6:59am May 5, 2010 6:59am
Quoting hhitch
thanks man. I see what you mean... personally I don't read lower trendlines going down, only upward sloping lower trendlines, or demand-lines... but that's just my preference! and I'm doing this on a much lower level timeline like 1 or 5 mins. do guys stay out for news like today's ISM?
Big ones like NFP yes... little ones no. Usually most fundamentals don't mean a thing. Trade your charts not the news apart from the biggies such as NFP, interest rates, etc.
  • #223,937
  • May 5, 2010 7:00am May 5, 2010 7:00am
uh oh news bad for dollar

not too bad though, I guess
"The real genius is knowing when to stop." - Marc Faber
  • #223,938
  • May 5, 2010 7:06am May 5, 2010 7:06am
Quoting hhitch
thanks man. I see what you mean... personally I don't read lower trendlines going down, only upward sloping lower trendlines, or demand-lines... but that's just my preference! and I'm doing this on a much lower level timeline like 1 or 5 mins. do guys stay out for news like today's ISM?
I am picking up my daughter from school now, so I am calling it for a day. Time to spend some quality time with my daughter

My new home will be the Voodoo Boodoo thread at http://www.forexfactory.com/showthread.php?t=208103

See you in there!
  • #223,939
  • May 5, 2010 7:06am May 5, 2010 7:06am
Quoting lexazver
when there is panic now often that you get consolidation, but rather erratic movements, so might as well enjoy the ride.. the key is not to overleverage..
Then hopefully the price will wait for me.. I will enter as soon as I see some period of consolidation in 4h.. I can't wait to be on-board, sir..
  • #223,940
  • May 5, 2010 7:09am May 5, 2010 7:09am
ok take care man! and stay away from those ciggies!!

Quoting bbakker
I am picking up my daughter from school now, so I am calling it for a day. Time to spend some quality time with my daughter

My new home will be the Voodoo Boodoo thread at http://www.forexfactory.com/showthread.php?t=208103

See you in there!
"The real genius is knowing when to stop." - Marc Faber
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