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Cable Update (GBPUSD)

  • #225,301
  • May 10, 2010 1:47am May 10, 2010 1:47am
damn slow market...
  • #225,302
  • May 10, 2010 1:51am May 10, 2010 1:51am
Quoting Jimz
damn slow market...
come trade the beast

its given 250 pips already for breakfast

dunno what the lunch is

http://img52.imageshack.us/img52/2994/69199046.gif
  • #225,303
  • May 10, 2010 1:55am May 10, 2010 1:55am
I wouldnt say its slow. Its moved 300 pips in 3 hours. I see a bullish triangle on 15min chart, touching 50 fib of last weeks highlow.
  • #225,304
  • May 10, 2010 2:10am May 10, 2010 2:10am
We will be short to mid 4500's b4 going up
  • #225,305
  • May 10, 2010 2:11am May 10, 2010 2:11am
Quoting racedesign
I wouldnt say its slow. Its moved 300 pips in 3 hours. I see a bullish triangle on 15min chart, touching 50 fib of last weeks highlow.
I see a valid bearish rising wedge. There is a possibility of price having another go at last week's low.
To each their own tho. Good luck to you
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.gif Size: 26 KB
Thank You
  • #225,306
  • May 10, 2010 2:20am May 10, 2010 2:20am
Quoting cloggie
Morning dag. Not many of us kept positions open over the weekend with the Brussels meeting going on trying to safe the euro and the negotiations regarding the hung parliament in the UK.
Morning cloggie,

yes, market awaits a rescue of euro atm,
in my eyes itīs only a temporary stop of the eur decline.
If PIIGS donīt get their budget deficit balanced we will have
further bad news in upcoming weeks.
BTW Malc expects a possible rise to 1.34 if overcome 1.30.
The gbp situation is a bit unclear for me atm (hungparliament negotiations). Despite a modest economy recover the eur problems a weighing on the pound also, i might be wrong.
Good trading to you!
  • #225,307
  • May 10, 2010 2:27am May 10, 2010 2:27am
Good Morning wormie,

happy trading and grienies all the way for you!
i had send another Q to you (PM) about the fxcm proxy topic.
  • #225,308
  • May 10, 2010 2:58am May 10, 2010 2:58am
Quoting wormboy
I see a valid bearish rising wedge. There is a possibility of price having another go at last week's low.
To each their own tho. Good luck to you
Thanks for pointing that out, I mainly look at 15m & 4h charts. I'm short baised because were @ the 50 fib of last weeks highlow, but with a 1 trillion bailout I'm nerves of the reaction. It is above the pivot point so I'm looking to buy but I will wait and see what the market tells me first. I remember hearing about greece at the end of january and how they might be 34Bil short.... now 1 trillion to fix it. WTF. I know thats for the euro, but that along with the election crap I'm flat until I see its just another day of trading.
  • #225,309
  • May 10, 2010 3:18am May 10, 2010 3:18am
Quoting racedesign
Thanks for pointing that out, I mainly look at 15m & 4h charts. I'm short baised because were @ the 50 fib of last weeks highlow, but with a 1 trillion bailout I'm nerves of the reaction. It is above the pivot point so I'm looking to buy but I will wait and see what the market tells me first. I remember hearing about greece at the end of january and how they might be 34Bil short.... now 1 trillion to fix it. WTF. I know thats for the euro, but that along with the election crap I'm flat until I see its just another day of trading.

Looks like you were spot on with your call earlier. Nicely done
Thank You
  • #225,310
  • May 10, 2010 3:52am May 10, 2010 3:52am
$GBPUSD Outlook For May 9 -14 http://bit.ly/97YeHr #forex #training
{Promotion Removed}
  • #225,311
  • May 10, 2010 4:37am May 10, 2010 4:37am
122-135 is a good resistance for shorting i believe
Verily, in every difficulties there is relief
  • #225,312
  • May 10, 2010 4:38am May 10, 2010 4:38am
kill56 let me know when you are online, the new version of the indicator you are using is now ready

hope it has worked good for you
  • #225,313
  • May 10, 2010 4:48am May 10, 2010 4:48am
Quoting primzvicious
122-135 is a good resistance for shorting i believe
lets get there first

still under strong buying pressure

could be mark up before the rate news

http://img98.imageshack.us/img98/8058/cabler.gif
  • #225,314
  • May 10, 2010 4:51am May 10, 2010 4:51am
Strong sell for cable at 1.5005 is still intact. The price is going to fall strongly today. I am still expecting..
  • #225,315
  • May 10, 2010 4:57am May 10, 2010 4:57am
Quoting wormboy
I see a valid bearish rising wedge. There is a possibility of price having another go at last week's low.
To each their own tho. Good luck to you
Agreed Wormie
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #225,316
  • May 10, 2010 4:59am May 10, 2010 4:59am
sell

1.4995.. SL.. 1.5080 TP.. 1.4800
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #225,317
  • May 10, 2010 5:23am May 10, 2010 5:23am
Quoting Bull_Bear
sell

1.4995.. SL.. 1.5080 TP.. 1.4800
Agree, and I'm short too .. but why such a wide SL? Mine is 5020.
******************* I'd rather make money than be right.
  • #225,318
  • May 10, 2010 5:28am May 10, 2010 5:28am
Quoting forexlion
lets get there first

still under strong buying pressure

could be mark up before the rate news

http://img98.imageshack.us/img98/8058/cabler.gif
i will not enter any shorts before 5134

and certainly not before GBP rate news

because of uncertainty in UK this time will be very very choppy
  • #225,319
  • May 10, 2010 5:36am May 10, 2010 5:36am
Current Hi saw cable finding some supply at the descending trend line-4hr and 50% 5815-4472, above here and 23.6% 7044-4474 is at 5080 with 23.6% of 6876-4474 lower at 5040 with 61.8% of 5390-4474 at 5039.

G/L
ex member
  • #225,320
  • May 10, 2010 5:41am May 10, 2010 5:41am
Quoting 4xStar
Agree, and I'm short too .. but why such a wide SL? Mine is 5020.
Firstly whats the risk / reward ratio? Is it so wide now when you look at in that terms.

Secondly, resistance is sitting at 1.5000 (50% and psyc level), 2nd line of resistence comes in at 1.5060, for safe measure 15080.

Thirdly I'm a longer term trader.
Veni, Vidi, Vici (We came, we saw, we conquered)
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