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Cable Update (GBPUSD)

  • #240,821
  • Jul 26, 2010 5:38am Jul 26, 2010 5:38am
The pair seems to have strong resistance at 5500. Any suggestion for trading from Senior/Experts?
No Need 2 Say Good Bye...!!!
  • #240,822
  • Jul 26, 2010 5:38am Jul 26, 2010 5:38am
Our lady has resistance at 5500, but I don't know if that will hold. She's still in very strong romance with the bulls.

Peace!
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #240,823
  • Jul 26, 2010 5:39am Jul 26, 2010 5:39am
Quoting drakes
Wonder if the reason market acts this way today is due to the results from the stress test announced last week....

Very likely the market is having some jitters trying to digest the stress results from Friday, EG being sold of all day and 1.55 attacked with a vengeance with all dips being bought. BTW 7 US banks failed on Friday bringing the total for the year over 140, more then last year to this date.

1.55 is not a good place to short cable right now.
  • #240,824
  • Jul 26, 2010 5:41am Jul 26, 2010 5:41am
Quoting HowieTrader
Call a Short @ 1.54945
TP @ 1.54721 (Middle 14days BB in 30m TF) Will close the trade if necessary
SL @ 1.55945 (Hope it will never reach this level today, not without boasts)

The pair is seen slow enough penetrating above 1.55000, thus Short is preffered.

As of writing, it is still traded ranging in my 14days BB in 30m TF, upper channel, and I'm now shorting it down to the middle (should it wants to visit there...)

shorting there ?? with SL 100 pips for tp 20 ?

I have long running 1.5464, half unloaded with +25, rest is for tp at 1.5540.
  • #240,825
  • Jul 26, 2010 5:45am Jul 26, 2010 5:45am
Not really sure there actually, if it changes trend, I'll close it manually, the 100 pips SL is set so that in case I forgot my safety belt in this trade, I'm protected anyway (but not subjected to price volatility)

Quoting sopel
shorting there ?? with SL 100 pips for tp 20 ?

I have long running 1.5464, half unloaded with +25, rest is for tp at 1.5540.
  • #240,826
  • Jul 26, 2010 5:48am Jul 26, 2010 5:48am
Quoting cloggie
Very likely the market is having some jitters trying to digest the stress results from Friday, EG being sold of all day and 1.55 attacked with a vengeance with all dips being bought. BTW 7 US banks failed on Friday bringing the total for the year over 140, more then last year to this date.

1.55 is not a good place to short cable right now.
Thanks for the input cloggie, couldn't think of another reason why the market is behaving weirdly today, so am out till there is a clear direction
Don't be emo... don't be emo....
  • #240,827
  • Jul 26, 2010 5:53am Jul 26, 2010 5:53am
Quoting aseka33
Aggresive US bank seen buying Gbp/Usd in a recent trade hence the recent push up towards 5500 level

Tell'm to yell a little louder, the Chinese are winning this one.
  • #240,828
  • Jul 26, 2010 5:55am Jul 26, 2010 5:55am
Quoting drakes
Thanks for the input cloggie, couldn't think of another reason why the market is behaving weirdly today, so am out till there is a clear direction

EG is finding support.
  • #240,829
  • Jul 26, 2010 5:55am Jul 26, 2010 5:55am
kabommmmmmmmm
  • #240,830
  • Jul 26, 2010 5:56am Jul 26, 2010 5:56am
Closed @ 1.54866
92279309 | 2010.07.26 10:34 | sell | 2.00 | gbpusdm | 1.54945 | 0.00000 | 0.00000 | 2010.07.26 10:54 | 1.54866 | 15.80

Been afraid that the price will not visit my targeted level, but it was going to actually...

Closed the trade because of uncertainty spreading amongst us...

Will wait for another chances, for now, I'd like to keep my change


Quoting HowieTrader
Call a Short @ 1.54945
TP @ 1.54721 (Middle 14days BB in 30m TF) Will close the trade if necessary
SL @ 1.55945 (Hope it will never reach this level today, not without boasts)

The pair is seen slow enough penetrating above 1.55000, thus Short is preffered.

As of writing, it is still traded ranging in my 14days BB in 30m TF, upper channel, and I'm now shorting it down to the middle (should it wants to visit there...)
  • #240,831
  • Jul 26, 2010 5:57am Jul 26, 2010 5:57am
Quoting uksnowman
Volumes seem quite low on this latest push up to 5500, can anyone confirm this? Normally volume would increase as we approach a key level as sellers fight with buyers, is it a last push up by the 'smart money'?

As we have already exceeded the monthly high I would have expected a test of 5520-5530 area but in case not I entered a small short at 1.5494 to test the waters. SL above 5530.
yes i saw too..as i mentioned last week (in friday if not mistaken) this area where am looking for my short 1.55-1.57...n now she's coming...

what we r waiting for....f***** this maximum lol...
  • #240,832
  • Jul 26, 2010 6:06am Jul 26, 2010 6:06am
so everyone's waiting for breakout?
there's a lovely 20 pip range to trade off the m1.
Thank You
  • #240,833
  • Jul 26, 2010 6:07am Jul 26, 2010 6:07am
Quoting wormboy
so everyone's waiting for breakout?
there's a lovely 30 pip range to trade off the m1.

Except for the scalpers, the smart money is on the break me thinks.
  • #240,834
  • Jul 26, 2010 6:08am Jul 26, 2010 6:08am
Quoting wormboy
so everyone's waiting for breakout?
there's a lovely 30 pip range to trade off the m1.
still virgin bro..little bit hard n need take sometime tho...
  • #240,835
  • Jul 26, 2010 6:11am Jul 26, 2010 6:11am
Staying Short for today? Or shall we proceed to test 1.55ish...?

I think the pair will go down first... Either it is a reversal / retracement / or just people pushing it down...

Short @ 1.54862
TP @ 1.54586 (Will close the trade if necessary)
SL @ 1.55862 (Just my safety belt)

The RSI is beginning to curve, hope this is a good sign for bear-power...
Attached Image
  • #240,836
  • Jul 26, 2010 6:11am Jul 26, 2010 6:11am
Quoting HowieTrader
Closed @ 1.54866
92279309 | 2010.07.26 10:34 | sell | 2.00 | gbpusdm | 1.54945 | 0.00000 | 0.00000 | 2010.07.26 10:54 | 1.54866 | 15.80

Been afraid that the price will not visit my targeted level, but it was going to actually...

Closed the trade because of uncertainty spreading amongst us...

Will wait for another chances, for now, I'd like to keep my change
294153182010.07.26 11:37buy0.30gbpusd1.546521.546900.000002010.07.26 13:061.549660.000.000.00 94.20
294171362010.07.26 12:19buy0.10gbpusd1.547861.546901.550002010.07.26 13:061.549660.000.000.00 18.00
294171552010.07.26 12:20buy0.10gbpusd1.547601.546901.550002010.07.26 13:061.549580.000.000.00 19.80
294171562010.07.26 12:20buy0.10gbpusd1.547601.546901.550002010.07.26 13:061.549580.000.000.00 19.80
294171602010.07.26 12:20buy0.10gbpusd1.547691.546901.550002010.07.26 13:061.549520.000.000.00 18.30
To Your Success!!
  • #240,837
  • Jul 26, 2010 6:16am Jul 26, 2010 6:16am
Quoting cloggie
Tell'm to yell a little louder, the Chinese are winning this one.

He must be on the dog 'n bone again.
  • #240,838
  • Jul 26, 2010 6:18am Jul 26, 2010 6:18am
Quoting wormboy
so everyone's waiting for breakout?
there's a lovely 20 pip range to trade off the m1.
lol, been putting in higher highs and higher lows since the mkt opened bro , look at your 15 minute it will give you a little better range
  • #240,839
  • Jul 26, 2010 6:19am Jul 26, 2010 6:19am
Quoting cloggie
1.55 attacked with a vengeance with all dips being bought.

1.55 is not a good place to short cable right now.

Still valid
  • #240,840
  • Jul 26, 2010 6:20am Jul 26, 2010 6:20am
Cloggie, good insight I believe.
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