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Cable Update (GBPUSD)

  • #225,321
  • May 10, 2010 5:45am May 10, 2010 5:45am
Quoting Bull_Bear
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.
OK, thanks .. that makes sense.
******************* I'd rather make money than be right.
  • #225,322
  • May 10, 2010 5:48am May 10, 2010 5:48am
Quoting forexlion
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
15 minutes 10 + 5 for action

lot of stops to be taken out, before tanking hard
  • #225,323
  • May 10, 2010 5:51am May 10, 2010 5:51am
Hi Forexlion, when is the GBP rate news out - it's just I don't see anything on the forex factory news section? Hope you can help!
  • #225,324
  • May 10, 2010 5:53am May 10, 2010 5:53am
Quoting forexlion
15 minutes 10 + 5 for action

lot of stops to be taken out, before tanking hard

true true ... but i think price will go 1.50979 so im waiting for buy
  • #225,325
  • May 10, 2010 5:56am May 10, 2010 5:56am
Quoting thinkman
Hi Forexlion, when is the GBP rate news out - it's just I don't see anything on the forex factory news section? Hope you can help!
adjust your time zone to match your country here first

http://www.forexfactory.com/profile....=customoptions
  • #225,326
  • May 10, 2010 5:57am May 10, 2010 5:57am
Quoting thinkman
Hi Forexlion, when is the GBP rate news out - it's just I don't see anything on the forex factory news section? Hope you can help!

You can look at the calender area. The news will start coming from: 4:30 Pm. Indian Standard Time. That is 2 min from now..
  • #225,327
  • May 10, 2010 6:00am May 10, 2010 6:00am
Thanks guys! Appreciate it. So what level you shorting from?
  • #225,328
  • May 10, 2010 6:04am May 10, 2010 6:04am
Quoting thinkman
Thanks guys! Appreciate it. So what level you shorting from?
the experts "bull_bear and wormie are already short "

i am not, i prefer the time pass
  • #225,329
  • May 10, 2010 6:05am May 10, 2010 6:05am
Quoting thinkman
Thanks guys! Appreciate it. So what level you shorting from?

I will wait for the effects of news to wear off before taking a decision.

Just closed my long from 1.4910 (FX PRO)

What about you?
  • #225,330
  • May 10, 2010 6:06am May 10, 2010 6:06am
i am just doing time pass till we reach 5134

then i might short

http://img217.imageshack.us/img217/8392/cableq.gif
  • #225,331
  • May 10, 2010 6:08am May 10, 2010 6:08am
Quoting forexlion
the experts "bull_bear and wormie are already short "

i am not, i prefer the fence
no I am not.
Thank You
  • #225,332
  • Edited 6:29am May 10, 2010 6:09am | Edited 6:29am
I still hold long 1.5221 ! Still no hedge short currently ! Plan at 61.8 % fibo 1.4474 - 1.5389 --> 1.5050/68 !
Attached Image (click to enlarge)
Click to Enlarge Name: 100510.gif Size: 83 KB
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #225,333
  • May 10, 2010 6:09am May 10, 2010 6:09am
Was keeping the bank rate at 0.5% bad for cable?
  • #225,334
  • May 10, 2010 6:09am May 10, 2010 6:09am
ops i correct myself the price will drop r max top 1.53028
  • #225,335
  • May 10, 2010 6:10am May 10, 2010 6:10am
Quoting forexlion
i am just doing time pass till we reach 5134

then i might short

http://img217.imageshack.us/img217/8392/cableq.gif

That's exactly what I am hoping to do. But will keep on watch just in case cable decides other wise.
  • #225,336
  • May 10, 2010 6:12am May 10, 2010 6:12am
i think GJ can give me a better time pass than cable

http://img707.imageshack.us/img707/3162/89025696.gif
  • #225,337
  • May 10, 2010 6:12am May 10, 2010 6:12am
Quoting thinkman
Hi Forexlion, when is the GBP rate news out - it's just I don't see anything on the forex factory news section? Hope you can help!
Hi, the BoE rates announced 10 mins ago at 12 noon. Stayed at 0.50 pc, no surprise.
  • #225,338
  • May 10, 2010 6:16am May 10, 2010 6:16am
Quoting Bull_Bear
Agreed Wormie
Hey Q,

I still have that seat on flight 1.7 for north pole saved for you bro
Currently flat except the one long position holding for the moon. Might take a while to arrive tho lol
Thank You
  • #225,339
  • May 10, 2010 6:17am May 10, 2010 6:17am
I will not post this again anywhere

I am sharing this indicator for the first time, so pass it on to your friends and kill56
Attached File(s)
File Type: ex4 forexlionfx.ex4   8 KB | 522 downloads
  • #225,340
  • May 10, 2010 6:24am May 10, 2010 6:24am
Till 15:00 there will be tryes to break 1.50328 after 3 price will fall to 1.49637 till 19:00 just my thinking.

Good Luck to everyone.
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