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Cable Update (GBPUSD)

  • #240,681
  • Jul 23, 2010 10:07am Jul 23, 2010 10:07am
Quoting wormboy
welp hope whoever is trading now know the exit/entry levels.
price is now all over the place.
The D1 is bullish, the H4 is bullish & the H1 is bearish.
The mid levels on m5 is showing support is currently holding up & if price close back above the desc utl1, there is likely a retest of previous high earlier. Else, if price close below the asc ltl1 & current support, cable will retest 5300 again.
Personally I reckon the bullish formation on the D1 holds more weight above the rest of the tf & buying dips will usually yield higher profit. But hey,...
right okay, there's the desc utl1 breakout. Looks like we're likely to test earlier high. Wouldn't be surprised if we print higher.

Let's see how this goes.

Good luck
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: g5a.gif Size: 22 KB
Thank You
  • #240,682
  • Jul 23, 2010 10:09am Jul 23, 2010 10:09am
Rumour that Spain will need 150Bn to inject in their banks that failed the test, not helping their spreads now.
  • #240,683
  • Jul 23, 2010 10:13am Jul 23, 2010 10:13am
Quoting uksnowman
safest option of the day imo, stay out of shorts, long on pullbacks. I am looking at 1.535-1.5370 area for possible re-entry long. Although I might get out of any positions before stress test result announcements in 3 hours time.
Phew, worked out nice. Re-entered at 1.536, closed 2/3rds and letting the rest run with sl at BE, wary of stress test results in one hour so could be some chaos on the cards.

Joined some of you green pippers with a good run today all 8 trades being winners which is unusual for me, +3% day
  • #240,684
  • Jul 23, 2010 10:21am Jul 23, 2010 10:21am
She's baaaaaccckkkk!
******************* I'd rather make money than be right.
  • #240,685
  • Jul 23, 2010 10:23am Jul 23, 2010 10:23am
Quoting uksnowman
Phew, worked out nice. Re-entered at 1.536, closed 2/3rds and letting the rest run with sl at BE, wary of stress test results in one hour so could be some chaos on the cards.

Joined some of you green pippers with a good run today all 8 trades being winners which is unusual for me, +3% day
excellent entry rich

I'm in good company today, 2% day & if the last runner close anywhere near 5450 I'll be looking at 5% gain for the week. Get the beer! We crashing tau's bbq
Thank You
  • #240,686
  • Jul 23, 2010 10:23am Jul 23, 2010 10:23am
Quoting TauTrader
Sooo...

Whilst they decide what they wanna be, I'm going to light the BBQ - get the wine, the wife and a couple of steaks.

Wish you all a great weekend ahead. Do spend time with your loved ones and rest well.

Regards
I notice you mentioned the wine first .. then the wife....
Hmmmmm
Have a great weekend & enjoy
******************* I'd rather make money than be right.
  • #240,687
  • Jul 23, 2010 10:24am Jul 23, 2010 10:24am
Quoting wormboy
right okay, there's the desc utl1 breakout. Looks like we're likely to test earlier high. Wouldn't be surprised if we print higher.

Let's see how this goes.

Good luck
Not sure if we may see a higher high today bro... EUR movements have now taken centre stage.

Fibre F$%K up my fun!!!
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #240,688
  • Jul 23, 2010 10:24am Jul 23, 2010 10:24am
Quoting wormboy
right okay, there's the desc utl1 breakout. Looks like we're likely to test earlier high. Wouldn't be surprised if we print higher.

Let's see how this goes.

Good luck
I think she'll test higher as well but I'm out at 27 ... enuf for now
******************* I'd rather make money than be right.
  • #240,689
  • Jul 23, 2010 10:35am Jul 23, 2010 10:35am
Quoting Bull_Bear
Not sure if we may see a higher high today bro... EUR movements have now taken centre stage.

Fibre F$%K up my fun!!!
why you pissed?? thought you bought @5260?
too much yoga doing your head bro

Quoting 4xStar
I think she'll test higher as well but I'm out at 27 ... enuf for now
yea sure looks like it, be nice if she does. My wife thinks so too. She likes shiny things
Thank You
  • #240,690
  • Jul 23, 2010 10:36am Jul 23, 2010 10:36am
Quoting 4xStar
She's baaaaaccckkkk!
yes bro

cable is following a very simple chart pattern this entire month of July

http://img201.imageshack.us/img201/6930/60711012.gif
  • #240,691
  • Jul 23, 2010 10:41am Jul 23, 2010 10:41am
Quoting forexlion
yes bro

cable is following a very simple chart pattern this entire month of July

http://img201.imageshack.us/img201/6930/60711012.gif
I closed out all my longs here

will reconsider the decision above 5471, not before
  • #240,692
  • Jul 23, 2010 10:41am Jul 23, 2010 10:41am
Quoting wormboy


yea sure looks like it, be nice if she does.

Just closed my longs, watching carefully. 20 minutes to the consolidated report.
  • #240,693
  • Jul 23, 2010 10:44am Jul 23, 2010 10:44am
Quoting wormboy
why you pissed?? thought you bought @5260?
too much yoga doing your head bro



yea sure looks like it, be nice if she does. My wife thinks so too. She likes shiny things
I did mate, closed off the top at 1.5440, than bought again on the retrace at 1.5410, thats when the rumour came out and took the wind out of cable.
Attached Image (click to enlarge)
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Veni, Vidi, Vici (We came, we saw, we conquered)
  • #240,694
  • Jul 23, 2010 10:44am Jul 23, 2010 10:44am
Quoting cloggie
Just closed my longs, watching carefully. 20 minutes to the consolidated report.
http://img833.imageshack.us/img833/3323/25087.jpg
  • #240,695
  • Jul 23, 2010 10:45am Jul 23, 2010 10:45am
Quoting cloggie
Just closed my longs, watching carefully. 20 minutes to the consolidated report.
nice trading cloggs
My last runner I'm holding is from 5203 bought yesterday. I'll cash it in before ny close later.
Thank You
  • #240,696
  • Jul 23, 2010 10:47am Jul 23, 2010 10:47am
Daily chart: black descending TL from the high in 16 june to the high in july 15. Today earlier it was respected...
my two cents
Attached Image (click to enlarge)
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  • #240,697
  • Jul 23, 2010 10:47am Jul 23, 2010 10:47am
http://img833.imageshack.us/img833/1174/22957428.gif
  • #240,698
  • Jul 23, 2010 10:49am Jul 23, 2010 10:49am
Quoting Bull_Bear
I did mate, closed off the top at 1.5440, than bought again on the retrace at 1.5410, thats when the rumour came out and took the wind out of cable.
okay. that's great trading bro. This second entry you can still close for 10 pips if you do it now really ...
Thank You
  • #240,699
  • Jul 23, 2010 10:51am Jul 23, 2010 10:51am
Quoting maurofx
Daily chart: black descending TL from the high in 16 june to the high in july 15. Today earlier it was respected...
my two cents
give it a few days, that trendline will go.

my 2 ringgit
Thank You
  • #240,700
  • Jul 23, 2010 10:53am Jul 23, 2010 10:53am
Quoting wormboy
okay. that's great trading bro. This second entry you can still close for 10 pips if you do it now really ...
here's your 10 pips mate
Attached Image
Veni, Vidi, Vici (We came, we saw, we conquered)
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