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Cable Update (GBPUSD)

  • #242,721
  • Aug 3, 2010 8:44am Aug 3, 2010 8:44am
Quoting mfoste1
the books are cooked and they have been for a long time.......so they dont get enough votes for a fed audit wow what a surprise..........just wait till the people find out what is really going on....watch out


Cloggie you watching gbp/chf? looks like a sweet double top has formed on 15m

Exactly.

Yeah I am watching it, DNT on the top there. And this one below on Cable:
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  • #242,722
  • Aug 3, 2010 8:46am Aug 3, 2010 8:46am
Quoting cloggie
Let me see, let's spend a couple of trillion, just print the money, let's not address the income side, no need to reduce the expenses and let's ignore the private sector.
  • #242,723
  • Aug 3, 2010 8:46am Aug 3, 2010 8:46am
...
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  • #242,724
  • Aug 3, 2010 8:47am Aug 3, 2010 8:47am
Quoting GlobalMacro
I am...

makes one think...why do bulls have to fight in an uptrend...
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Thank You
  • #242,725
  • Aug 3, 2010 8:47am Aug 3, 2010 8:47am
Quoting jimmyloz
Hello traders i think about that what else ? => back to 1.5609 ?

http://nsa16.casimages.com/img/2010/...5546185654.jpg

other analysis on my blog http://foxtrade-foxtrade.blogspot.com/

touching MA20 .. be careful ...
  • #242,726
  • Aug 3, 2010 8:48am Aug 3, 2010 8:48am
Quoting patmarch
Breakouts...that's all I'll say....

simple approaches are waaaayyyyy to complicated to explain
  • #242,727
  • Aug 3, 2010 8:50am Aug 3, 2010 8:50am
Quoting GlobalMacro
I am...

makes one think...why do bulls have to fight in an uptrend...
To fight off the bears? I'm flat right now... waiting to see what news brings to the market...
Don't be emo... don't be emo....
  • #242,728
  • Aug 3, 2010 8:51am Aug 3, 2010 8:51am
Yesterday high still acting as support.
  • #242,729
  • Aug 3, 2010 8:51am Aug 3, 2010 8:51am
Quoting cloggie
...
Saw that too... if it breaks that and holds as support... then i'll go in long...
Don't be emo... don't be emo....
  • #242,730
  • Aug 3, 2010 8:53am Aug 3, 2010 8:53am
Quoting wormboy
Ouch!!!
Hear the music before the song is over ...
  • #242,731
  • Aug 3, 2010 8:54am Aug 3, 2010 8:54am
Quoting drakes
To fight off the bears? I'm flat right now... waiting to see what news brings to the market...
they could just as well not care and overrun them...
Hear the music before the song is over ...
  • #242,732
  • Aug 3, 2010 9:02am Aug 3, 2010 9:02am
Hmmm... news as expected?
Don't be emo... don't be emo....
  • #242,733
  • Aug 3, 2010 9:02am Aug 3, 2010 9:02am
Quoting GlobalMacro
price action overstretched cable yesterday shooting above previously formed Broadening Top exhausting her with 1.5900 barely trading !!!

an intermediate UTL has been broken with price falling slowly but steadily ever since

I'm selling here @ 1.5885
alright...stopping & reversing @ 1.5930...
Hear the music before the song is over ...
  • #242,734
  • Aug 3, 2010 9:03am Aug 3, 2010 9:03am
I came in late to the party today, just in time to see a test of a newly drawn LTL so I entered long, got stopped out at +5 which I consider a huge victory since in the bad old days (last week) probably would have hung on longer and taken a loss.

For those asking how to draw the boxes .. all they are is a visual to train you eyes to see price action .. consolidation>breakout>consolidation. Draw them however you like as long as they help you identify these areas of price movement. When I started trading this morning I saw a very brief consolidation on the 5 min, I went down to 1 min to view it there & drew my first box. That plus test of LTL was my reason to go for a long, looking for 25 pips max.
It may still happen but I am out when price dropped down into the original box.
Again .. this is how I am playing it, everyone will be different, just use the boxes to help train you to watch price.
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******************* I'd rather make money than be right.
  • #242,735
  • Aug 3, 2010 9:03am Aug 3, 2010 9:03am
5 Bad updates for the USD and still it holds...................... something somewhere doesn't quite add up.

Maybe I ought to get a calculator like the ones they use over yonder pond
  • #242,736
  • Aug 3, 2010 9:08am Aug 3, 2010 9:08am
Quoting AdrianHNV
5 Bad updates for the USD and still it holds...................... something somewhere doesn't quite add up.

Maybe I ought to get a calculator like the ones they use over yonder pond
yeah I wish my bank manger had same calculator!
  • #242,737
  • Aug 3, 2010 9:09am Aug 3, 2010 9:09am
Wee update. I do keep giving the CT-ers cr@p all the time, but the case for the bulls is getting weaker and weaker by the minute, see earlier posts too. Maybe some of the more stubborn bulls can now start to see the forest through the trees. I did give a headsup 2 hours ago.... Trade at your own risk as always, just keep the stops tight on the longs, don't give money back to the market that can serve you better in your own account.
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  • #242,738
  • Aug 3, 2010 9:11am Aug 3, 2010 9:11am
Waiting to see if it breaks out of the range... am considering shorting...
Don't be emo... don't be emo....
  • #242,739
  • Aug 3, 2010 9:13am Aug 3, 2010 9:13am
long GBP are getting out...
I am short, expecting downturn...in the coming days...friday-the payroll day...
  • #242,740
  • Aug 3, 2010 9:13am Aug 3, 2010 9:13am
Quoting AdrianHNV
5 Bad updates for the USD and still it holds...................... something somewhere doesn't quite add up.

Maybe I ought to get a calculator like the ones they use over yonder pond
Those news are cashed in long ago... yesterday.
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