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Cable Update (GBPUSD)

  • #225,641
  • May 11, 2010 8:01am May 11, 2010 8:01am
discussion over between labour and libdems
  • #225,642
  • May 11, 2010 8:04am May 11, 2010 8:04am
Quoting winsome
discussion over between labour and libdems

Yup DC in #10, finally. Announcement due shortly

Fly cable, Fly

Darn, may have to close my long term shorts and change my sentiment.
  • #225,643
  • May 11, 2010 8:07am May 11, 2010 8:07am
Quoting kaspopsicle
Looks brilliant. I think you must be trading at a stop loss much higher than i can afford. Was it about 120 to open or did you adjust as you went because of faith in the trade? 'Scuse my English, i'm welsh.
Araf SL ('Slow' for you English) Check his thread for more details and post questions regarding his system there. He is feeling lonely in there and needs some company
  • #225,644
  • May 11, 2010 8:08am May 11, 2010 8:08am
Quoting cloggie
Yup DC in #10, finally. Announcement due shortly

Fly cable, Fly

Darn, may have to close my long term shorts and change my sentiment.
She's flying... $2 here we come
  • #225,645
  • May 11, 2010 8:15am May 11, 2010 8:15am
Gordon Brown just quit
  • #225,646
  • May 11, 2010 8:18am May 11, 2010 8:18am
thanks for the link!

Quoting bbakker
I am listening to the BBC 24x7 right now via my laptop. If you are outside the UK you can read it here!

http://news.bbc.co.uk/1/shared/election2010/liveevent/
"The real genius is knowing when to stop." - Marc Faber
  • #225,647
  • May 11, 2010 8:18am May 11, 2010 8:18am
Quoting Popularhelen
Gordon Brown just quit
Nah, that was as leader of the party by the next conference, he will have to physically go to the Queen to resign, so watch the motorcade that is your signal to go long.
  • #225,648
  • May 11, 2010 8:19am May 11, 2010 8:19am
Quoting cloggie
Yup DC in #10, finally. Announcement due shortly

Fly cable, Fly

Darn, may have to close my long term shorts and change my sentiment.
nice info as always
Verily, in every difficulties there is relief
  • #225,649
  • May 11, 2010 8:23am May 11, 2010 8:23am
evening standard just reported that Gordon Brown just left the party
  • #225,650
  • May 11, 2010 8:23am May 11, 2010 8:23am
Quoting kaspopsicle
Looks brilliant. I think you must be trading at a stop loss much higher than i can afford. Was it about 120 to open or did you adjust as you went because of faith in the trade? 'Scuse my English, i'm welsh.
i do not use SL, but if the trend changes, i just close all and reverse
  • #225,651
  • May 11, 2010 8:26am May 11, 2010 8:26am
Higher low was formed on the 4 hr. If we can break 1.5055 area and test we should see a higher move.

Jim
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 37 KB
  • #225,652
  • May 11, 2010 8:46am May 11, 2010 8:46am
wow! how long do you think this rally will last?
  • #225,653
  • May 11, 2010 8:49am May 11, 2010 8:49am
the MPs and Lords of the Lib DEm party have been called for a vote at 7.30 pm UK time to approve a deal
  • #225,654
  • May 11, 2010 8:51am May 11, 2010 8:51am
Quoting Popularhelen
the MPs and Lords of the Lib DEm party have been called for a vote at 7.30 pm UK time to approve a deal
Annoucement will be after this then if they vote to approve.
  • #225,655
  • May 11, 2010 8:53am May 11, 2010 8:53am
These pips were a gimmie when this resistance inside this large Bear candle was broken.

Jim
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 37 KB
  • #225,656
  • May 11, 2010 8:56am May 11, 2010 8:56am
Quoting Nene
These pips were a gimmie when this resistance inside this large Bear candle was broken.

Jim
Hope it's not done just yet. I'm down 20 pips so far on this trade, but still thinking it might get to resistance level on 1H chart. Otherwise, I'm screwed, again.
  • #225,657
  • May 11, 2010 9:06am May 11, 2010 9:06am
Quoting Nene
Higher low was formed on the 4 hr. If we can break 1.5055 area and test we should see a higher move.

Jim
I have a sneaky feeling that we will be at least reaching this area, as the Con/LibDem coalition is the second best option for GU after a straight Con win and that did not happen last week!
  • #225,658
  • May 11, 2010 9:15am May 11, 2010 9:15am
surfing is good for health

http://img169.imageshack.us/img169/1043/cable.gif
  • #225,659
  • May 11, 2010 9:15am May 11, 2010 9:15am
Here is is guys and I know there are some out there that really don't know simple Fundamentals because they have been trained one way or another. But here is the simple plain truth about the price action. And I don't care who is being elected and who is jacking who, the bottom line is, " News releases will normally only drive the price to the nearest hardline support or resistance. This has happened recently I understand, and there is a lot of hoopla about people saying how the weekly UTL has been broken! Wwwwwrooongo!

Here is the skinny, The weekly HAS been breached but it still needs to be tested. The chart shows very clearly a test of the underside of the Weekly UTL is under way. The 61.8% Fib level has held once again. I believe we will soon find ourselves above this UTL once again my friends. And that is that. My take on this is this was one big clear for the Bulls. Ask yourself, how often does a Descending Triangle break to the down side, rarely. So call it what you like on a large scale, Bull Trap, Head Fake or just plain Clearing house...LOL
Jim
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu.gif Size: 42 KB
Click to Enlarge Name: gu1.gif Size: 39 KB
  • #225,660
  • May 11, 2010 9:19am May 11, 2010 9:19am
1.5030 thru 1.5065 level will tell the tale. If this 4 hr DTL, (Descending Triangle Bottom) yields to the price and we test the top side we will see a huge Bull run.

Jim
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