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Cable Update (GBPUSD)

  • #237,261
  • Jul 12, 2010 10:56am Jul 12, 2010 10:56am
Quoting GlobalMacro
cable was trading around 1.5075 when that piece of news was released which is a very significant support broken on friday so it helped exacerbate the bounce off that level
GM, what's your long term view bro?
Thank You
  • #237,262
  • Jul 12, 2010 10:56am Jul 12, 2010 10:56am
Quoting GlobalMacro
thanks K...how is your trading coming along...
not bad at all still learning not to lose to the big cats
  • #237,263
  • Jul 12, 2010 10:57am Jul 12, 2010 10:57am
Quoting Now
S, R and pivot levels are calculated at NY close to be most valid.
Use the attached indicator in your MT station to calculate them automated. Also go to babypips.com for more info.
Cheers. Have a good one.

hi

can this indi be used on other platform as well? i normally draw them manually.

thx.
  • #237,264
  • Jul 12, 2010 10:58am Jul 12, 2010 10:58am
Quoting nAVIN2007
wormie keep an eye out on fb..i posted a chart of what i seeing..just remeber that neckline bro..
Will do bro
Thank You
  • #237,265
  • Jul 12, 2010 10:58am Jul 12, 2010 10:58am
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Quoting forexlion
only shoes not her azz
Will get a new extra pair with a suit instead
Being right is one, taking it from the table is two.
  • #237,266
  • Jul 12, 2010 10:58am Jul 12, 2010 10:58am
Quoting Endrju
yes, it did helped downside, but i'm no sure it will have enough strength to pull up again. This is quite bearish news, which could take rounds on public speeches and headlines. I'm waiting for a clear brake of 1.500 and then to establish short for first 1.4870
looks to me more like a knee-jerk reaction just in time to take advantage of intraday O/B up there....

having said that buy stops ARE already triggered around 1.5052 interday...1.4970 zone also nice support interday....testing bulls' resolve...

but it's a fast two-way market today....
Hear the music before the song is over ...
  • #237,267
  • Jul 12, 2010 10:59am Jul 12, 2010 10:59am
Quoting kill56
not bad at all still learning not to lose to the big cats
biggest pussycat is forexlion
Thank You
  • #237,268
  • Jul 12, 2010 11:03am Jul 12, 2010 11:03am
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Quoting fxarin
hi

can this indi be used on other platform as well? i normally draw them manually.

thx.
for use on Meta Trader platforms with any broker
Being right is one, taking it from the table is two.
  • #237,269
  • Jul 12, 2010 11:03am Jul 12, 2010 11:03am
Quoting nAVIN2007
long term ..if it was a quicky i definately be short
just that once im in position i dont like trying to be smart..makes it complicated for me best for me to keep it simple
I hear you....what was I thinking....of course bro....yup I like simple too....
but...
sometimes
simple+simple+simple = complicated at the end of the day after all
so we gotta be watchful we always revert back to the basics bro...
Hear the music before the song is over ...
  • #237,270
  • Jul 12, 2010 11:04am Jul 12, 2010 11:04am
Quoting GlobalMacro
looks to me more like a knee-jerk reaction just in time to take advantage of intraday O/B up there....

having said that buy stops ARE already triggered around 1.5052 interday...1.4970 zone also nice support interday....testing bulls' resolve...

but it's a fast two-way market today....
on the dailly brother, we have a bullish outside bar protecting the 1.50 area, totally expect this area to hold and reverse the weekly...monthly piercing formation..also have a suspect inverse head and shoulder happening..taking shape on dailly but weekly is still forming

swissy also has a 2 month bearish pin..cannot ask for more signals!! but like u say its a 2 way market..these are my observations anyways
  • #237,271
  • Jul 12, 2010 11:05am Jul 12, 2010 11:05am
Quoting nAVIN2007
wormie keep an eye out on fb..i posted a chart of what i seeing..just remeber that neckline bro..
bro its a cycle , its time to go down , unless the UK raise rates cable will stay below 15500- 13500, i dont think we will see a raise tell 2011 after the US do it
  • #237,272
  • Jul 12, 2010 11:05am Jul 12, 2010 11:05am
Quoting wormboy
biggest pussycat is forexlion
hahahahahaha..... he's not around lately
  • #237,273
  • Jul 12, 2010 11:08am Jul 12, 2010 11:08am
Quoting kill56
bro its a cycle , its time to go down , unless the UK raise rates cable will stay below 15500- 13500, i dont think we will see a raise tell 2011 after the US do it

u will see..we have come down to test 1.50..the bearish diverence was very high..expect a pin today on dailly
  • #237,274
  • Jul 12, 2010 11:09am Jul 12, 2010 11:09am
Quoting GlobalMacro
looks to me more like a knee-jerk reaction just in time to take advantage of intraday O/B up there....

having said that buy stops ARE already triggered around 1.5052 interday...1.4970 zone also nice support interday....testing bulls' resolve...

but it's a fast two-way market today....
it does look more like knee-jerk, i still favor a move lower, near 1.49 and then it could go up again, probably will wait for a close, and tomorrow will start with clearer view. Right now not that sure of direction, but if Dow will make a late before closing movement as it has before, it could bring in some volatility.
  • #237,275
  • Jul 12, 2010 11:10am Jul 12, 2010 11:10am
Quoting wormboy
biggest pussycat is forexlion
pussycat noooooo sosocat yesssssssssss
  • #237,276
  • Jul 12, 2010 11:12am Jul 12, 2010 11:12am
Damn, i'm overslept & just wake up.
I missed London
  • #237,277
  • Jul 12, 2010 11:13am Jul 12, 2010 11:13am
Quoting kill56
i dont think we will see a raise tell 2011 after the US do it

I think there is a case for the BOE to move first, the US trade balance looks a lot healthier then the UK's and a few more quarters here of CPI above 3 could well see the UK act first. I am not putting any money on it though, time will tell. Let's see what tomorrow morning brings.
  • #237,278
  • Jul 12, 2010 11:14am Jul 12, 2010 11:14am
Quoting kingsteven
Damn, i'm overslept & just wake up.
I missed London

Kids nowadays, you only missed it by 8 hours.
  • #237,279
  • Jul 12, 2010 11:20am Jul 12, 2010 11:20am
Quoting wormboy
GM, what's your long term view bro?
I see a great deal of opportunities trading cable intraday to 24 hours currently....so most of my trades are limited to 24 hours at this point in time as opposed to my trading last year where I rode a lot of swings...

however my observation regarding longer term horizon is as follows :

although price managed to break out of the multi-month downtrend line
(see weekly chart below) it has yet to clear 1.5200 affirmatively
otherwise risk is to the downside for the price to retest 1.4500s...

...and where do you see the price action going in the long term, my friend?
Attached Image (click to enlarge)
Click to Enlarge Name: Mweekly.gif Size: 12 KB
Hear the music before the song is over ...
  • #237,280
  • Jul 12, 2010 11:21am Jul 12, 2010 11:21am
Quoting nAVIN2007
u will see..we have come down to test 1.50..the bearish diverence was very high..expect a pin today on dailly
look at this i know its crazy but i think we will see some new lows befor we retrace
Attached Image (click to enlarge)
Click to Enlarge Name: daily cable.gif Size: 23 KB
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