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Cable Update (GBPUSD)

  • #226,221
  • May 13, 2010 1:19am May 13, 2010 1:19am
Quoting forexlion
A humble man, never uses the word ME, MY, I

he just trades his chart.



lol you should really learn to practise what you preach.

Quoting forexlion
the only people who are worth listening to besides me are bull_bear and malcolm, because they have a solid foundation in their trading, wormie is .... sometimes right
Thank You
  • #226,222
  • May 13, 2010 1:22am May 13, 2010 1:22am
There was a high volume spike just now, anyone know why?

Im guessing its pro sellers into the buy. Maybe revisit the open at 1.482
  • #226,223
  • May 13, 2010 1:23am May 13, 2010 1:23am
Quoting wormboy
lol you should really learn to practise what you preach.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #226,224
  • May 13, 2010 1:26am May 13, 2010 1:26am
Hi Room, I posted my chart earlier today and I mentioned that there had been a valid close beneath a lower trendline on the 4hr and 1hr indicating the possibility of further downwards movement. maybe so, but... as I look at the 4hr now it appears to me more as if the triangle has re-written itself as a wider triangle and instead of being a close beneath a trendline it was more like just a new bottom coordinate for the triangle and perhaps an upward move is coming due to the fact of 1.5000 acting like a price magnet, because of its status as a 50% fib as well as a psychological 'figure'. who knows what it will do ultimately but that's the way I see it now. If price makes a break above the 38.2 level at 4875 I see it attempting to tag the 1.50 level again although I see it's currently having a little trouble breaking past the 200ema on the 15 min chart.

only thing is Elliott wavers often say a triangular consolidation like this will continue in the direction of the original move which would be down, which is what I'd seen in the first place.... we'll see I guess... maybe the fact that there are bank holidays in Europe today will have some effect...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-100513.01.gif Size: 25 KB
"The real genius is knowing when to stop." - Marc Faber
  • #226,225
  • May 13, 2010 1:39am May 13, 2010 1:39am
geting 10% a year from the banks is like having a wind in your back
  • #226,226
  • May 13, 2010 1:40am May 13, 2010 1:40am
Quoting hhitch
Hi Room, I posted my chart earlier today and I mentioned that there had been a valid close beneath a lower trendline on the 4hr and 1hr indicating the possibility of further downwards movement. maybe so, but... as I look at the 4hr now it appears to me more as if the triangle has re-written itself as a wider triangle and instead of being a close beneath a trendline it was more like just a new bottom coordinate for the triangle and perhaps an upward move is coming due to the fact of 1.5000 acting like a price magnet, because of its status as a 50%...
pure fundamentals

weak currency = more earning from exports - good trade balance = cable north

we have trade balance news coming in 2 hours

pros are buying on this concept, pigs are selling as usual
  • #226,227
  • May 13, 2010 1:43am May 13, 2010 1:43am
interesting. I thought the pigs were getting slaughtered

Quoting forexlion
pure fundamentals

weak currency = more earning from exports - good trade balance = cable north

we have trade balance news coming in 2 hours

pros are buying on this concept, pigs are selling as usual
"The real genius is knowing when to stop." - Marc Faber
  • #226,228
  • May 13, 2010 1:44am May 13, 2010 1:44am
Quoting forexlion
pure fundamentals

weak currency = more earning from exports - good trade balance = cable north

we have trade balance news coming in 2 hours

pros are buying on this concept, pigs are selling as usual
either 1.50 or 1.51

then down again,. if 1.51 holds

http://img20.imageshack.us/img20/4830/60845967.gif
  • #226,229
  • May 13, 2010 1:47am May 13, 2010 1:47am
Quoting forexlion
either 1.50 or 1.51

then down again,. if 1.51 holds

http://img20.imageshack.us/img20/4830/60845967.gif
we had very high volume buying on Tuesday if anyone noticed it
  • #226,230
  • May 13, 2010 1:55am May 13, 2010 1:55am
Quoting wormboy
lol you should really learn to practise what you preach.
Good one Wormie!

People say he is a good trader, but an idiot he will always be! Personally, he is on my ignore list and I only see his comments when someone quotes him... but when people do quote him, it is usually to put him down. I suppose you get what you give!
  • #226,231
  • May 13, 2010 2:01am May 13, 2010 2:01am
Asian markets rallying today, greece fears subsiding, parliament problems resolving. PA has broken through 200EMA.

LONG cable at 4888, SL 4860, TP 15000.
  • #226,232
  • May 13, 2010 2:09am May 13, 2010 2:09am
Thirsday - sweet day in the office: free cakes in addition to tea and coffee
  • #226,233
  • May 13, 2010 2:14am May 13, 2010 2:14am
Quoting Geppyg
Hi BB,

I have been buying dips myself...Swing are not favourable just scalping at present...

Currently am long on both cable and euro
from 5:00 this morning...
Both Free Trades..

Have a good Day
Another Day ..we are still where we were yesterday...lol

See what I mean BB by the current swings....

Still in my trades will wait till the 9:30 news to liquidate now stops are at break even...

Have a good Day mate
Let Price determine your future!
  • #226,234
  • May 13, 2010 2:16am May 13, 2010 2:16am
Quoting bbakker
Good one Wormie!

People say he is a good trader, but an idiot he will always be! Personally, he is on my ignore list and I only see his comments when someone quotes him... but when people do quote him, it is usually to put him down. I suppose you get what you give!
Daars altyd n gat kruiper.
  • #226,235
  • May 13, 2010 2:22am May 13, 2010 2:22am
My yearly itermediate hedging term to load with dollars is 24 of june and possible hedging yearly term to unload is 10 of july. Let the end of june be bottom and the middle of july be the top themy hedging strategy
  • #226,236
  • May 13, 2010 2:24am May 13, 2010 2:24am
Quoting The Magician
LONG cable at 4888, SL 4860, TP 15000.
SL moved to BE, bit premature but I figure DP should hold and if not I want out anyway. Anyone else feeling bullish on this today?
  • #226,237
  • May 13, 2010 2:26am May 13, 2010 2:26am
Quoting jimmyloz
http://nsa14.casimages.com/img/2010/...5122386000.jpg

http://www.casimages.com/img.php?i=1...5122386000.jpg


good vibes ;o) ok traders ?
after it's the paradise
  • #226,238
  • May 13, 2010 2:34am May 13, 2010 2:34am
Quoting The Magician
SL moved to BE, bit premature but I figure DP should hold and if not I want out anyway. Anyone else feeling bullish on this today?
http://www.casimages.com/img.php?i=1...5122386000.jpg
  • #226,239
  • May 13, 2010 2:37am May 13, 2010 2:37am
Quoting The Magician
SL moved to BE, bit premature but I figure DP should hold and if not I want out anyway. Anyone else feeling bullish on this today?
i have set long for 4880.

some news coming out soon though
I have no enemy; I make Incautiousness my Enemy.
  • #226,240
  • May 13, 2010 3:09am May 13, 2010 3:09am
hmmm, stopped out at BE. looking for new entry.
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