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Cable Update (GBPUSD)

  • #233,101
  • Jun 23, 2010 1:45am Jun 23, 2010 1:45am
Hi everyone, I will buy GBP/USD if i was you right NOWwww
  • #233,102
  • Jun 23, 2010 1:45am Jun 23, 2010 1:45am
Quoting fxoxford
nappy time, you guys enjoy your pips, make sure you save me some,
  • #233,103
  • Jun 23, 2010 1:47am Jun 23, 2010 1:47am
Quoting forexlion
by the way

 

  1. my trade plan is to hold longs till 1.50, possibly 1.5050
  2. then short heavily to 1.4230


you may not get much above 1.4855... if and only if this area is broken on 1st attempt will the market rise.

we saw massive selling hitting gu at this price level in US
Blogging daily now at www.volume.zone
  • #233,104
  • Jun 23, 2010 1:47am Jun 23, 2010 1:47am
Quoting Forextrader4
Hi everyone, I will buy GBP/USD if i was you right NOWwww
gotta ask, whats your T/P.
  • #233,105
  • Jun 23, 2010 1:49am Jun 23, 2010 1:49am
Quoting hhitch
ok I will tell you what I am seeing now. Price is starting to approach the same area where it was met by strong resistance last friday, around 1.4880. It appears that the butterfly has begun to play out a bit to the downside, but it could always fail, or perhaps decide to continue on up to D2 or D3 rather than just stoping at D. However it has sold off a bit and is now re-testing the upper area of the right butterfly wing as it has been painted so far. There also appears to be a head and shoulders top forming on the H1, with bearish divergence....
Hi everyone, I'm trading on the M5 currently as I don't want to get caught for any reversal. Just happy to make 15-20 pips at a time. Can't really see the bigger picture. All the best.
  • #233,106
  • Jun 23, 2010 1:50am Jun 23, 2010 1:50am
Quoting forexlion
please don't re-write my words.
  • #233,107
  • Jun 23, 2010 1:52am Jun 23, 2010 1:52am
Quoting malcolmb14
you may not get much above 1.4855... if and only if this area is broken on 1st attempt will the market rise.

we saw massive selling hitting gu at this price level in UnderSkirt
yeah i closed out +22

this bugger is having a tough time breaking the week open price
  • #233,108
  • Jun 23, 2010 1:56am Jun 23, 2010 1:56am
I beleiveat one has to loook at both these currencies when trading. the one hits a top, look to sell the other, and visa versa.
By the way, is there any livew chat rooms somewhere
  • #233,109
  • Jun 23, 2010 1:56am Jun 23, 2010 1:56am
1 hour is dead meat currently

http://img638.imageshack.us/img638/1277/13303253.gif
  • #233,110
  • Jun 23, 2010 1:56am Jun 23, 2010 1:56am
Quoting fxoxford
gotta ask, whats your T/P.
Well i am really watching out from the 1.48536 level as i consider it a resistance level. So when the price reaches that level i will be very careful and trail my trade manually until the price breaks through that area. If it doesn't i will get out with at least a locked 10 pips until i have a better opportunity. The good thing is to never rush a trade as there are many other currency pairs to trade ofcourse when there is an opportunity, instead of exhausting one single pair like gbp/usd.
  • #233,111
  • Jun 23, 2010 1:56am Jun 23, 2010 1:56am
as much as the lure of volatile profits compels me to put on trades, I'm getting the feeling, what with a different news release every half hour for the next 7 hours or so, that I might do well to take the night off, and let the bulls and bears fight it out, until there is a clear winner. Price action is certainly looking up in the short term, on both the pound and the Euro, but the bigger picture for both says down. That tells me there may be some tug-of-war going on for a while. I'm thinking I might just avoid the stress tonight (as it's 3am here where I live) and perhaps see where things stand tomorrow, after MPC minutes and maybe even as late as after FOMC time which is early afternoon here. Definitely some big releases today... traders will be all over the place... We'll see if my analysis proves correct, or if I'm all wet... I'd probably rather do that without my money at stake in any case, once price figures out where the heck it's going, I can throw some trades on then.
"The real genius is knowing when to stop." - Marc Faber
  • #233,112
  • Jun 23, 2010 1:58am Jun 23, 2010 1:58am
Quoting spiritbreezer
I beleiveat one has to loook at both these currencies when trading. the one hits a top, look to sell the other, and visa versa.
By the way, is there any livew chat rooms somewhere
dats a funny double meaning signature you got

can't stop laughing
  • #233,113
  • Jun 23, 2010 2:00am Jun 23, 2010 2:00am
Loads bulls ...did the current buyers even look where R is at ? just a question .... it is 20 pip above us and until this is broken out from longs are much higher risk then normal

In fact I see gu heading down to 4700 but am waitng for confimration of reversal
Blogging daily now at www.volume.zone
  • #233,114
  • Jun 23, 2010 2:01am Jun 23, 2010 2:01am
Quoting forexlion
dats a funny double meaning signature you got

can't stop laughing
Thanx
  • #233,115
  • Jun 23, 2010 2:03am Jun 23, 2010 2:03am
I thought it was about to take off at open. I'm short right now, but got it on tight stop loss.
Only expectation matters . . .
  • #233,116
  • Jun 23, 2010 2:04am Jun 23, 2010 2:04am
Quoting malcolmb14
Loads bulls ...did the current buyers even look where R is at ? just a question .... it is 20 pip above us and until this is broken out from longs are much higher risk then normal

In fact I see gu heading down to 4700 but am waiting for her to get ready
ok
  • #233,117
  • Jun 23, 2010 2:05am Jun 23, 2010 2:05am
We already know that rates are going to stay low for a long period to come .... rates remain same No surprise market as normal , in fact this may cause stock market to drop and be good for usd as bonds / usd are safe haven when money comes out of equities.

rumblings of rate hike or even slightest bullish mention in minuted usd rips up ....

really is a win win situation for usd if you ask me.

Quoting hhitch
as much as the lure of volatile profits compels me to put on trades, I'm getting the feeling, what with a different news release every half hour for the next 7 hours or so, that I might do well to take the night off, and let the bulls and bears fight it out, until there is a clear winner. Price action is certainly looking up in the short term, on both the pound and the Euro, but the bigger picture for both says down. That tells me there may be some tug-of-war going on for a while. I'm thinking I might just avoid the stress tonight (as it's 3am here...
Blogging daily now at www.volume.zone
  • #233,118
  • Jun 23, 2010 2:11am Jun 23, 2010 2:11am
missed opportunity of buying as my level was at 4825 and it went to a low of 4828 only, and now it took off. Seems to be supported by an upsurge of euro. Maybe Lion will see his 4900 level from here...
  • #233,119
  • Jun 23, 2010 2:11am Jun 23, 2010 2:11am
Quoting forexlion
ok

at moment 60 min is up .... hulls is up and there does seem to be suggestion of buyers 4820

there is also a large gap on ftse to fill , could take her 10 1.4885 r that is my 1st tp on long then looking to see what happens there. I love playing these gaps fils on indexes .. .really to easy
Blogging daily now at www.volume.zone
  • #233,120
  • Jun 23, 2010 2:12am Jun 23, 2010 2:12am
Quoting malcolmb14
Loads bulls ...did the current buyers even look where R is at ? just a question .... it is 20 pip above us and until this is broken out from longs are much higher risk then normal

In fact I see gu heading down to 4700 but am waitng for confimration of reversal
4921 is good place to short... is not it???
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