Cable Update (GBPUSD) | Page 11976 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #239,501
  • Jul 20, 2010 8:01am Jul 20, 2010 8:01am
Well, I think we have confirmation now. It will be interesting what happens from here. Strong rejection of my monthly S&R line resulting in a nice bullish hourly bar. Also, this was a 4H bounce of the center line of my 100BB. Have to see if this also holds its bullish movement.

The close of this 15M bar is pretty ominous, so will have to keep an eye on that. Also, I don't know at this time of the day how much higher I am looking for a target than the 55 SMA on 5M chart currently at 1.5215, though I guess we are in open of NY, and that would be my target had the trade opened later in NY session.

Attached Image (click to enlarge)
Click to Enlarge Name: h1.gif Size: 35 KB
"Keep your eyes on the helpers" - Mr. Rogers
  • #239,502
  • Jul 20, 2010 8:04am Jul 20, 2010 8:04am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Sell commodity currencies BUY conventional one's for now.


ta
ams


Quoting cloggie
I may have to revisit my bias and join you shortly on both. Let's see what the next hourly brings.
  • #239,503
  • Jul 20, 2010 8:04am Jul 20, 2010 8:04am
Quoting bbakker
Now I am really signing off for at least a few weeks! Be good, be careful, have fun and STICK TO YOUR MONEY MANAGEMENT RULES
later bbakker
"Keep your eyes on the helpers" - Mr. Rogers
  • #239,504
  • Jul 20, 2010 8:06am Jul 20, 2010 8:06am
Quoting cloggie
I know you like patterns, we are set for a morning star on the 30
Yep... sure are.. if we can get above that, it would be the long position from there.. hopefully we can make it.
"Keep your eyes on the helpers" - Mr. Rogers
  • #239,505
  • Jul 20, 2010 8:14am Jul 20, 2010 8:14am
Quoting damonl
Yep... sure are.. if we can get above that, it would be the long position from there.. hopefully we can make it.
Morning stars are probably 80% reliable, a close above 5175 would confirm, then targeting 5189, 5213, 5230, 5248, 5256.

Like Kill says, no break, no shack. I am the last person to pick a bottom, just waiting for the confirmation.
  • #239,506
  • Jul 20, 2010 8:20am Jul 20, 2010 8:20am
still hold my shorts with +ve SL..daily are going down..waiting for one more news and down we go
  • #239,507
  • Jul 20, 2010 8:22am Jul 20, 2010 8:22am
Quoting cloggie
Morning stars are probably 80% reliable, a close above 5175 would confirm, then targeting 5189, 5213, 5230, 5248, 5256.

Like Kill says, no break, no shack.
No break, no shack.. I like that

I am notorious for jumping the break as is the case here. The proper entry would be above the 30M morning star or above the 1HR Hangman bar on the hour.
"Keep your eyes on the helpers" - Mr. Rogers
  • #239,508
  • Jul 20, 2010 8:23am Jul 20, 2010 8:23am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
EU bought @ 128500 SL 128.




Quoting ams
Sell commodity currencies BUY conventional one's for now.


ta
ams
  • #239,509
  • Jul 20, 2010 8:26am Jul 20, 2010 8:26am
Quoting nAVIN2007
i think so bro
Hear the music before the song is over ...
  • #239,510
  • Jul 20, 2010 8:29am Jul 20, 2010 8:29am
Quoting damonl
No break, no shack.. I like that

I am notorious for jumping the break as is the case here. The proper entry would be above the 30M morning star or above the 1HR Hangman bar on the hour.

Patience, young man, patience. Wait for the river to flow before jumping on your Lilo.
  • #239,511
  • Jul 20, 2010 8:35am Jul 20, 2010 8:35am
Quoting ams
EU bought @ 128500 SL 128.
im liking this confidence from u bro!!..good to see
  • #239,512
  • Jul 20, 2010 8:39am Jul 20, 2010 8:39am
that false breakout and subsequent reversal this morning scared the hell outta a lot folks...and which has demoralized a lot of bulls....as such I'm entering a short here @ 1.5180....
Attached Image (click to enlarge)
Click to Enlarge Name: M30.gif Size: 8 KB
Hear the music before the song is over ...
  • #239,513
  • Jul 20, 2010 8:40am Jul 20, 2010 8:40am
Quoting cloggie
Patience, young man, patience. Wait for the river to flow before jumping on your Lilo.

Yeah.. I hear you there.... I was a little kicking myself because we had a perfect set-up short this morning and I did not take it.. will work on the patience thing .

With that said.. had another suucessful rejection from my monthly trendline, so maybe it will go now and we will see some new highs this hour.
"Keep your eyes on the helpers" - Mr. Rogers
  • #239,514
  • Jul 20, 2010 8:41am Jul 20, 2010 8:41am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Cheers Nav....doing scalping here & there.

I've good fundamanetal reason to back them as tomorrow and friday we have major news for both GU & EU so don't expect anything drastic for now. We are in short term bullish trend for both anyways. Long term bearish because cable is below 1.55 but bullish because it's above 1.50and EU is already above 128.


ta
ams


Quoting nAVIN2007
im liking this confidence from u bro!!..good to see
  • #239,515
  • Jul 20, 2010 8:42am Jul 20, 2010 8:42am
Quoting ams
I've good fundamanetal reason to back them as tomorrow and friday we have major news for both GU & EU

French newspaper (Le Monde) just leaked the news that the French banks passed the stress test.
  • #239,516
  • Jul 20, 2010 8:45am Jul 20, 2010 8:45am
Quoting GlobalMacro
that false breakout and subsequent reversal this morning scared the hell outta a lot folks...and which has demoralized a lot of bulls....as such I'm entering a short here @ 1.5180....

trend is up thou..errr!!! (i think)..LOL if u take last weekly weekly candle hi to low ..its retrace exactly 61.8..it could find its way up to close above 1.52..keeping the mofo bullish..just an observation
  • #239,517
  • Jul 20, 2010 8:45am Jul 20, 2010 8:45am
May be too early for the short.. I think I will wait...

Quoting GlobalMacro
that false breakout and subsequent reversal this morning scared the hell outta a lot folks...and which has demoralized a lot of bulls....as such I'm entering a short here @ 1.5180....
  • #239,518
  • Jul 20, 2010 8:46am Jul 20, 2010 8:46am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
These are just minor reasons, major is till friday nothing happening to EU and till tomorrow nothing to GU


Quoting cloggie
French newspaper (Le Monde) just leaked the news that the French banks passed the stress test.
  • #239,519
  • Jul 20, 2010 8:49am Jul 20, 2010 8:49am
Quoting cloggie
Morning stars are probably 80% reliable, a close above 5175 would confirm, then targeting 5189, 5213, 5230, 5248, 5256.

Like Kill says, no break, no shack. I am the last person to pick a bottom, just waiting for the confirmation.

Thanks for the targets.... was just starting to look for those.

Still watching that 4Hr bar though as well if that think closes bullish we could be heading up for a few hundred maybe....

any thoughts on that?
"Keep your eyes on the helpers" - Mr. Rogers
  • #239,520
  • Jul 20, 2010 8:50am Jul 20, 2010 8:50am
Quoting GlobalMacro
that false breakout and subsequent reversal this morning scared the hell outta a lot folks...and which has demoralized a lot of bulls....as such I'm entering a short here @ 1.5180....
another master comin.. LOL.. i'm still holding my short too.. welcome bro...
461 traders viewing now, 1 is registered:
CPUmice