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Cable Update (GBPUSD)

  • #242,501
  • Aug 3, 2010 1:51am Aug 3, 2010 1:51am
Global: Careful with the shorts... The move down you mentioned was with little volume and I could still see the upward strength in the price action when it moved down to that 1.5580 area...
I am thinking this move up may be to test the 1.6 area.. I am not doing anything yet...
Quoting GlobalMacro
price re-testing the broken UTL...now trading @ 1.5920

no change in the intermediate picture

price needs to prove that this move has not been merely an upthrust!

I will maintain the short position
  • #242,502
  • Aug 3, 2010 1:51am Aug 3, 2010 1:51am
Quoting GlobalMacro
price re-testing the broken UTL...now trading @ 1.5920

no change in the intermediate picture

price needs to prove that this move has not been merely an upthrust!

I will maintain the short position

...agreed! well, we will see, i took short at 1.5920 wich is 76,4% Fib from 1,6460 to 1.4227 on my 12h chart...tight SL!!!

cheers
  • #242,503
  • Aug 3, 2010 1:52am Aug 3, 2010 1:52am
i would love to here the reason why anyone went short
  • #242,504
  • Aug 3, 2010 1:53am Aug 3, 2010 1:53am
Quoting GlobalMacro
price re-testing the broken UTL...now trading @ 1.5920

no change in the intermediate picture

price needs to prove that this move has not been merely an upthrust!

I will maintain the short position
I'm agree with you, that reverse on pound is somewhere near. Look at the market sentiment - somebody see pound at 1.65, and some even on 1.7. I think that now market on panic buy, it could stop very soon (before NFP on friday I suppose) I put my sell limit on 1.6027 I don't see pound higher today
  • #242,505
  • Aug 3, 2010 1:54am Aug 3, 2010 1:54am
Quoting GlobalMacro
price re-testing the broken UTL...now trading @ 1.5920

no change in the intermediate picture

price needs to prove that this move has not been merely an upthrust!

I will maintain the short position
Agreed. That shot up to test the D1 resistance.
Good luck with the trade bro
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Thank You
  • #242,506
  • Aug 3, 2010 1:54am Aug 3, 2010 1:54am
Quoting GlobalMacro
price re-testing the broken UTL...now trading @ 1.5920

no change in the intermediate picture

price needs to prove that this move has not been merely an upthrust!

I will maintain the short position
Ok so trendline broken and bouncing off the other side. Nice opportunity to short if that way inclined, stop for me would be other side of TL (small at the moment)
  • #242,507
  • Aug 3, 2010 1:54am Aug 3, 2010 1:54am
Quoting fxoxford
i would love to here the reason why anyone went short
I will start to short at 1.5960 and then load up every 40 pips therein I will set my tp on 40pips which gives me three attempts and an opportunity to break even if it goes to the third tranche of shorting (ie 1.5960, 1.60, 1.6040 back to 1.60, close all three trades no loss)
  • #242,508
  • Aug 3, 2010 1:57am Aug 3, 2010 1:57am
Quoting OldReigatian
I will start to short at 1.5960 and then load up every 40 pips therein
good luck
  • #242,509
  • Aug 3, 2010 1:57am Aug 3, 2010 1:57am
Quoting peach
Global: Careful with the shorts... The move down you mentioned was with little volume and I could still see the upward strength in the price action when it moved down to that 1.5580 area...
I am thinking this move up may be to test the 1.6 area.. I am not doing anything yet...
that's right...but low volume is normal for non-LDN,NY trading sessions...the pattern still valid tho with UTL broken...
Hear the music before the song is over ...
  • #242,510
  • Aug 3, 2010 1:58am Aug 3, 2010 1:58am
1.60 today or tomorrow

euro is carrying the currency up..beware..she might absolutely destroy 1.60..as i suspect every1 is thinking of shorting there..its a bit to obvious or am i just gettting better..i question

dont short unless theres a signal u ruining my position
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  • #242,511
  • Aug 3, 2010 1:59am Aug 3, 2010 1:59am
Quoting fxoxford
i would love to here the reason why anyone went short
go back and look at the chart I posted , the short trades did pay , I am not thinking every trade has to go 100 pips , the short trade went to my profit tgts and now the long trade has went to it , and now the consolidation to see where london is going with it , the exchange payed well , and still have a few longs if they go they go , wht have you done today?
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  • #242,512
  • Edited 5:33am Aug 3, 2010 2:00am | Edited 5:33am
i dont agree at all to short cable
Todays quick 50 pips, half is running for 1.60, and small from yesterday at 1.5740 tgt at 1.63.

Ofcourse something can go wrong but i'm safe on both positions
Eur/Gbp formed SHS (posted week ago ), break at yesterdays london open, and today it tested nice resistance. Cable up up and away !!

Good luck with catching tops
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  • #242,513
  • Aug 3, 2010 2:00am Aug 3, 2010 2:00am
Quoting grashid
wait at 1.594..good luck
spot on brother. excellent call
Thank You
  • #242,514
  • Aug 3, 2010 2:01am Aug 3, 2010 2:01am
Quoting zodiak
...agreed! well, we will see, i took short at 1.5920 wich is 76,4% Fib from 1,6460 to 1.4227 on my 12h chart...tight SL!!!

cheers
Quoting Vasile
I'm agree with you, that reverse on pound is somewhere near. Look at the market sentiment - somebody see pound at 1.65, and some even on 1.7. I think that now market on panic buy, it could stop very soon (before NFP on friday I suppose) I put my sell limit on 1.6027 I don't see pound higher today
watching PA like a hawk...cheers
Hear the music before the song is over ...
  • #242,515
  • Aug 3, 2010 2:01am Aug 3, 2010 2:01am
here is the chart with wht I was talking about
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  • #242,516
  • Aug 3, 2010 2:02am Aug 3, 2010 2:02am
Long Is The Trade Of The Day, Good Luck On Anyone Who's Shorts, 1.6147 Here We Come, this is what i see at the moment, if short comes into play then i will post it, good luck to all.
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  • #242,517
  • Aug 3, 2010 2:03am Aug 3, 2010 2:03am
Quoting wormboy
Agreed. That shot up to test the D1 resistance.
Good luck with the trade bro
thanks bro...you in any trades yourself?
Hear the music before the song is over ...
  • #242,518
  • Aug 3, 2010 2:04am Aug 3, 2010 2:04am
Quoting pj11500
Ok so trendline broken and bouncing off the other side. Nice opportunity to short if that way inclined, stop for me would be other side of TL (small at the moment)
now you're talking...
Hear the music before the song is over ...
  • #242,519
  • Aug 3, 2010 2:05am Aug 3, 2010 2:05am
Quoting digger1
go back and look at the chart I posted , the short trades did pay , I am not thinking every trade has to go 100 pips , the short trade went to my profit tgts and now the long trade has went to it , and now the consolidation to see where london is going with it , the exchange payed well , and still have a few longs if they go they go , wht have you done today? Attachment
good job, all of my t/p are for 100+ pips. keep up the good work
  • #242,520
  • Aug 3, 2010 2:06am Aug 3, 2010 2:06am
Quoting nAVIN2007
1.60 today or tomorrow

euro is carrying the currency up..beware..she might absolutely destroy 1.60..as i suspect every1 is thinking of shorting there..its a bit to obvious or am i just gettting better..i question

dont short unless theres a signal u ruining my position
LOL...

bro you're just getting better...

but wait a minute...I am THE signal...
Hear the music before the song is over ...
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