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Cable Update (GBPUSD)

  • #234,381
  • Jun 29, 2010 3:47am Jun 29, 2010 3:47am
Quoting mihazupan1
Could you please explain your trading methodology?

Send me your Skype nickname if you have it as I'd have some questions regarding your trades.
I will pm you my skype nickname.
  • #234,382
  • Edited 4:29am Jun 29, 2010 3:55am | Edited 4:29am
Quoting Awp Shout
As I said time to go short... small SL

http://j.imagehost.org/0110/gbp.gif
http://i.imagehost.org/0179/gbp.gif

Hehe.. I take my profit.... see you cable
  • #234,383
  • Jun 29, 2010 3:57am Jun 29, 2010 3:57am
Good place to short and always ride for more than almost 1000 pips pure profits. Still holding my long term short.
  • #234,384
  • Jun 29, 2010 4:08am Jun 29, 2010 4:08am
Quoting Forextrader4
Gbp/usd failed to break yesterday's low, lets see what happens, I'm still short and 44 pips in profit so far...
Hi
I am long at 1.5085. So is there any way it will cross that point today??

Rajesh
  • #234,385
  • Jun 29, 2010 4:45am Jun 29, 2010 4:45am
Quoting tundeakins
Good place to short and always ride for more than almost 1000 pips pure profits. Still holding my long term short.

http://dynexcorp.com/charts/images/bpweek.png
  • #234,386
  • Jun 29, 2010 4:52am Jun 29, 2010 4:52am
Cable sneaking just below yesterday's low to find support at the top of that previous 1hr/4hr swing hi zone (= potential rbs) shown as red on screenshot below...also 23.6% of the 4644-5127 move there....how strong is this demand?

G/L

http://i46.tinypic.com/59vamd.gif
ex member
  • #234,387
  • Jun 29, 2010 4:55am Jun 29, 2010 4:55am
Quoting nsrajesh
Hi
I am long at 1.5085. So is there any way it will cross that point today??

Rajesh
Hmmm.. nice trade... it will come back i think...
  • #234,388
  • Jun 29, 2010 4:57am Jun 29, 2010 4:57am
Might be setting up for a crown or Head and Shoulders formation - will short at 1.5070
May the forex be with you |
  • #234,389
  • Jun 29, 2010 5:07am Jun 29, 2010 5:07am
alright, who's agreeing that a long term short is the right thing to do?
  • #234,390
  • Jun 29, 2010 5:08am Jun 29, 2010 5:08am
A bullish engulf pattern off previous support on H1 TF to me suggest price will consolidate if not trend up for now at least until US session open.

Good place to find longs at below 5050.
The markets can remain irrational longer than you can stay solvent. -Keynes
  • #234,391
  • Jun 29, 2010 5:10am Jun 29, 2010 5:10am
Quoting Fusion
We are getting compression of EMA's on daily as well...it that works, we are for a good 12-1500 pip fall.
hope it tanks...
  • #234,392
  • Jun 29, 2010 5:13am Jun 29, 2010 5:13am
Quoting witsnpips
alright, who's agreeing that a long term short is the right thing to do?
The probability of retesting the 1.43 low is quite high I would say.
The markets can remain irrational longer than you can stay solvent. -Keynes
  • #234,393
  • Jun 29, 2010 5:15am Jun 29, 2010 5:15am
Quoting witsnpips
hope it tanks...
now we are Between heaven and earth
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  • #234,394
  • Jun 29, 2010 5:17am Jun 29, 2010 5:17am
Quoting keitsuke
The probability of retesting the 1.43 low is quite high I would say.
on W1 Stochastic strong up. I'm thinking we'll see 1.53*
  • #234,395
  • Jun 29, 2010 5:18am Jun 29, 2010 5:18am
Quoting keitsuke
The probability of retesting the 1.43 low is quite high I would say.

what is this probability based on please? any charting for explanation would be helpful.

It might be easier to test 5300 than to 4300 from here after the D1 ltl bounce we just saw. Not saying that it won't tank, just saying from a "probability" point of view .... and a chart:
1. http://www.forexfactory.com/showpost...postcount=7355
Thank You
  • #234,396
  • Jun 29, 2010 5:27am Jun 29, 2010 5:27am
Quoting Privet
on W1 Stochastic strong up. I'm thinking we'll see 1.53*
We probably will, but not any higher.
We are still in a long term down trend, and UK economy is still fragile along with the rest of the world. The measures the UK government outlined in their emergency budget will take time to filter through the economy. Until something solid comes out, it's all talk, and I remain a long term short.
The markets can remain irrational longer than you can stay solvent. -Keynes
  • #234,397
  • Jun 29, 2010 5:29am Jun 29, 2010 5:29am
Quoting wormboy
what is this probability based on please? any charting for explanation would be helpful.

It might be easier to test 5300 than to 4300 from here after the D1 ltl bounce we just saw. Not saying that it won't tank, just saying from a "probability" point of view .... and a chart:
1. http://www.forexfactory.com/showpost...postcount=7355
I just feel the rally of the past 2 weeks is based on hot air, and it won't last.
However, I do think she's got a little steam left in her.
The markets can remain irrational longer than you can stay solvent. -Keynes
  • #234,398
  • Jun 29, 2010 5:31am Jun 29, 2010 5:31am
Quoting keitsuke
I just feel the rally of the past 2 weeks is based on hot air, and it won't last.
However, I do think she's got a little steam left in her.

okay ... surely no reason to give away a probable 300 pips gain then? That will be wasteful
Thank You
  • #234,399
  • Jun 29, 2010 5:34am Jun 29, 2010 5:34am
Quoting wormboy
what is this probability based on please? any charting for explanation would be helpful.

It might be easier to test 5300 than to 4300 from here after the D1 ltl bounce we just saw. Not saying that it won't tank, just saying from a "probability" point of view .... and a chart:
1. http://www.forexfactory.com/showpost...postcount=7355

I am with Wormy on this, no matter what you use for your favourite support there isn't a lot out there indicating anything else but up for now. I am not going to make any predictions here about where this goes from here, but unless we see a solid move below either the support or the channel I am still seeing this as a continuance.

I like the argument though that as we have had a solid bull move for 3 weeks, it is bout to reverse here.

Look at your supports, every retrace was bought into, what makes you think this one is different?

Of course there will be plenty of setups to trade both ways for intra day traders, but taking any long term investment trade here othere then a long is just gambling on a reversal somewhere.

Now can someone give a simple chart supporting a long term short setup? Keep it simple, I can't read those complicated christmas trees.
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  • #234,400
  • Jun 29, 2010 5:34am Jun 29, 2010 5:34am
Quoting wormboy
okay ... surely no reason to give away a probable 300 pips gain then? That will be wasteful
Wormboy when do you expect to hit this level? I've gone long @ 1.5052.
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