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Cable Update (GBPUSD)

  • #230,941
  • Jun 10, 2010 12:21am Jun 10, 2010 12:21am
Am I the only one holding a short here?.....
  • #230,942
  • Jun 10, 2010 12:22am Jun 10, 2010 12:22am
here it is sin

GBPUSD – The ratio of long to short positions in the GBPUSD stands at -1.03 as nearly 51% of traders are short, almost squarely at the neutral 50% mark. Yesterday, the ratio was at -1.08 as 52% of open positions were short. In detail, long positions are 4.5% higher than yesterday and 5.6% stronger since last week. Short positions are 0.6% lower than yesterday and 2.5% stronger since last week. Open interest is 1.8% stronger than yesterday and 2.9% above its monthly average. Much as we see in the EURUSD, forex speculators give little indication on where the GBPUSD may head next and our bias is effectively neutral.
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Thank You
  • #230,943
  • Jun 10, 2010 12:23am Jun 10, 2010 12:23am
Quoting fixme1too
Very wise move M I A......... ur tp is on point look for 4441 then buy to 4700's
Hope ur right....
  • #230,944
  • Jun 10, 2010 12:24am Jun 10, 2010 12:24am
Quoting joemiami
Am I the only one holding a short here?.....
u are not
  • #230,945
  • Jun 10, 2010 12:25am Jun 10, 2010 12:25am
Check my stats you will be up Good day Joe.........
Quoting joemiami
Hope ur right....
  • #230,946
  • Jun 10, 2010 12:26am Jun 10, 2010 12:26am
Quoting wormboy
Great to hear sin. Lemme know if you need hand to carry those bags, I charge a small amount for my effort

Here's a peek bro
Wow thanks wormie much appreciated. Sentiment and participation are big factors in my trading. You can carry my bags what does your fee cover

Last week we had a bullish triangle pattern fail below 4580. You might recall I posted this formation chart.

http://camarilla.ws/Symmetrical%20Co...ullish%29.aspx

Today we are testing the "supply line" of that pattern. Make of that what you will - I do not like to make calls in this thread anymore.
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  • #230,947
  • Jun 10, 2010 12:34am Jun 10, 2010 12:34am
it looks really sexy
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  • #230,948
  • Jun 10, 2010 12:39am Jun 10, 2010 12:39am
Quoting sinner-
Wow thanks wormie much appreciated. Sentiment and participation are big factors in my trading. You can carry my bags what does your fee cover

Last week we had a bullish triangle pattern fail below 4580. You might recall I posted this formation chart.

http://camarilla.ws/Symmetrical%20Co...ullish%29.aspx

Today we are testing the "supply line" of that pattern. Make of that what you will - I do not like to make calls in this thread anymore.

10%

looks like a possible move higher sin. I have a centerline convergence on my macd. don't see it on yours tho
Thank You
  • #230,949
  • Jun 10, 2010 12:50am Jun 10, 2010 12:50am
congrats, i am opposite u for next 2days on long, hope you enjoy the fall while i enjoy my ride. heheeee


Quoting joemiami
Am I the only one holding a short here?.....
  • #230,950
  • Jun 10, 2010 12:52am Jun 10, 2010 12:52am
Quoting fixme1too
Check my stats you will be up Good day Joe.........
closed out at 4575 +19 waiting for this upward thrust to weaken before I reenter short
  • #230,951
  • Jun 10, 2010 12:53am Jun 10, 2010 12:53am
Quoting wormboy
10%

looks like a possible move higher sin. I have a centerline convergence on my macd. don't see it on yours tho
You can't see it because I'm not using MACD. It's a momentum oscillator very much similar to the Bill Williams AO or AdvancedGET oscillator. I use all three interchangeably because they are so similar (the equation is roughly similar SMA5-SMA34 of HL/2). You can see on the chart I posted that the oscillator has crossed 0 - so there is a bullish impetus possible after the bar closes. The signal to buy for me will be more like a hourly closes above 14610 - but it's late enough in the week that I might just leave such shenanigans for Monday/Tuesday next.

In any case, doubling down the shorts during Tokyo did not add too much to the total trade cost so I didn't mind sparing a bit of the FTSE profits on it to see what will occur. I admit the rally above 1.4550 was stronger than expected. The hourly shows 5 waves up from Tuesday lows with wave 5 currently failing. Intraday S/R is obviously key.

The UK is still running number two behind Italy as far as CDS risk perception goes (i.e. more UK CDS bought last week than any country except Italy). In that sense - I prefer to buy my pounds in the form of selling the equity index.
  • #230,952
  • Jun 10, 2010 12:54am Jun 10, 2010 12:54am
Quoting trade price
my view on cable
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here you go woked as planed.
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  • #230,953
  • Jun 10, 2010 12:55am Jun 10, 2010 12:55am
Nice in 1hr tradeline
GELORE
  • #230,954
  • Jun 10, 2010 12:59am Jun 10, 2010 12:59am
Quoting joemiami
closed out at 4575 +19 waiting for this upward thrust to weaken before I reenter short
I have a sell order @ 4606, with a target of 4507

1 hour and 4 hour, seem to be badly overbought

I can be wrong, or right, god knows.
  • #230,955
  • Jun 10, 2010 1:01am Jun 10, 2010 1:01am
Quoting trade price
here you go woked as planed.
Great chart trade price. Reminds me of GlobalMacro. There is also this - a bit longer term:
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  • #230,956
  • Jun 10, 2010 1:04am Jun 10, 2010 1:04am
1 hour chart update

http://www.forexfactory.com/showthre...24#post3791524
  • #230,957
  • Jun 10, 2010 1:12am Jun 10, 2010 1:12am
re enter short at 4575................... tight stop loss at 4585
  • #230,958
  • Jun 10, 2010 1:20am Jun 10, 2010 1:20am
Still seeing support currently on the M30...sitting flat right now myself...

I have a feeling that we are targeting the M30 to possible play through confirmation but haven't seen the movement to be all that convinced just yet.

IF we retrace the 30m, support is crucial or we could see lower lows. A hold here during London, will most likely confirm the hourly and could send us ad another attempt to tackle the H4 200EMA at approx 1.4689.

Right now...I am okay with a fist full of nothing until I see what I need to see.

Until we completely clear the H4 200, I don't see me going any sort of long term longs. Right now, I am still seeing the Sherpa with still a chance into the 1.42.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #230,959
  • Jun 10, 2010 1:28am Jun 10, 2010 1:28am
Quoting joemiami
re enter short at 4575................... tight stop loss at 4585
Nice trade Joe!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #230,960
  • Jun 10, 2010 1:31am Jun 10, 2010 1:31am
Quoting Magix
Still seeing support currently on the M30...sitting flat right now myself...

I have a feeling that we are targeting the M30 to possible play through confirmation but haven't seen the movement to be all that convinced just yet.

IF we retrace the 30m, support is crucial or we could see lower lows....
so damn agree...
thats what im thinking about...
look green fibo for uptrend and blue fibo for downtrend
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