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Cable Update (GBPUSD)

  • #243,341
  • Aug 5, 2010 2:16am Aug 5, 2010 2:16am
Quoting wormboy
hopefully bro

no I didn't. I cleared my positions on dragon yesterday. flat today on that pair.
how's your trade coming? are you still holding cable short?
yes still holding several , few tgts left this time around , then wait for a bounce lol
  • #243,342
  • Aug 5, 2010 2:17am Aug 5, 2010 2:17am
Quoting fxoxford
where in a downtrend 1st T/P 1.5740
downtrend continue, change my T/P to 1.5720
Attached Image (click to enlarge)
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  • #243,343
  • Aug 5, 2010 2:17am Aug 5, 2010 2:17am
Quoting wormboy
hopefully bro

no I didn't. I cleared my positions on dragon yesterday. flat today on that pair.
how's your trade coming? are you still holding cable short?
did u mean cable will strike through 744 then 620
currently flat now and waiting 5 minute retracement
Verily, in every difficulties there is relief
  • #243,344
  • Aug 5, 2010 2:19am Aug 5, 2010 2:19am
Quoting zoreli
Anyone from the experienced trades can write here possible scenarios for today Official Bank rate decision?

What will happen with the GBP if the BOE decide to hold rates on current levels? What will happen in case that BOE decide to increase Official Bank rate?

Which are your expectations?

Thanks in advance for your time.

Regards, Zoreli
Hi Zoreli,

BOE is widely expected to keep interest rate at 0.5% and QE at GBP 200B, however, given the budget cut & austerity measures implemented, they might need to open door for further monetary easing to support economy (if they do, sterling should fall). we should know about that in release of BOE statement which is due next wed. overall, it's not tradable event unless it surprising.

Good luck!
  • #243,345
  • Aug 5, 2010 2:19am Aug 5, 2010 2:19am
G/M all...nice drop down from potential resa zone created around asian highs creates a 1hr bearish thrust candle below yesterday's lo...

I see 3 x 3 fib clusters of fibs drawn from main 1hr and 4hr swings to current 5968 4hr + trend Hi that may or may not be tested/prove to be recognised by the market re potential support: 5767-58, 5648-43, 5565-83.

G/L
ex member
  • #243,346
  • Aug 5, 2010 2:22am Aug 5, 2010 2:22am
Quoting fourxtrader
I like the symmetry. Why not complete the
right shoulder by ranging here until LDN?

Then lance the boil.

Dr. D.
Hey Digger and Mal...

Looks like this shoulder has an arm and an elbow.

L4 touched to the pip. The short worked out nicely.

Congrats to the fellow across the pond who's close
to recovering from his brilliant 150 pip DD trade.

Dr. D.
Attached Image
  • #243,347
  • Aug 5, 2010 2:22am Aug 5, 2010 2:22am
Quoting primzvicious
did u mean cable will strike through 744 then 620
currently flat now and waiting 5 minute retracement
well I don't know about the "will", but as it stands the first support seen from here on is @700 ish. The real support however is @620 ish. So I was just saying if price can get that far before nfp it'll be nice
In any case 700 would offer me very healthy returns too I wouldn't complain.
Thank You
  • #243,348
  • Aug 5, 2010 2:23am Aug 5, 2010 2:23am
Quoting digger1
yes still holding several , few tgts left this time around , then wait for a bounce lol
no bounce. all the way down plez lol
Thank You
  • #243,349
  • Aug 5, 2010 2:24am Aug 5, 2010 2:24am
good follow through on yesterday's decline, if markets in Europe & US futures turns red on risk aversion, it would accelerate the fall. something I would love to see!!
  • #243,350
  • Aug 5, 2010 2:25am Aug 5, 2010 2:25am
Quoting kaspopsicle
Oh OK,If breaks below 15864 and holds..short through round number,through 15819, 15803 to 15775.. them i'll learn how to post a chart.
the break below 1.5864 was accompanied by very strong momentum today...did you take the trade, Kas?
Hear the music before the song is over ...
  • #243,351
  • Aug 5, 2010 2:25am Aug 5, 2010 2:25am
Quoting wormboy
no bounce. all the way down plez lol
lol all rite I will keep selling ha ha where you got to get too lol
  • #243,352
  • Aug 5, 2010 2:27am Aug 5, 2010 2:27am
Quoting wormboy
no bounce. all the way down plez lol
nice trade bro...well done!
Hear the music before the song is over ...
  • #243,353
  • Aug 5, 2010 2:27am Aug 5, 2010 2:27am
price is approaching the steepest 4hr ascending trend line and the lower 1hr new descending channel

1hr is shown below...

G/L
Attached Image
ex member
  • #243,354
  • Aug 5, 2010 2:27am Aug 5, 2010 2:27am
Quoting wormboy
no bounce. all the way down plez lol
bounce pls ... gonna jump on the money train again
Verily, in every difficulties there is relief
  • #243,355
  • Aug 5, 2010 2:29am Aug 5, 2010 2:29am
Quoting GlobalMacro
nice trade bro...well done!
thanks bro
are you trading today?
Thank You
  • #243,356
  • Aug 5, 2010 2:29am Aug 5, 2010 2:29am
out of the short I took this morning with +70, will look to short again at .5855
  • #243,357
  • Aug 5, 2010 2:29am Aug 5, 2010 2:29am
Waiting for Cable to dip below 1.5810 before shorting. May also bounce, but pretty strong price action to the downside.

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  • #243,358
  • Aug 5, 2010 2:30am Aug 5, 2010 2:30am
Hidden divergence is building in 4hr oscillators ? I'm not saying that this is neccessarilly the fabled 'bottom' Lol !

G/L
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ex member
  • #243,359
  • Aug 5, 2010 2:31am Aug 5, 2010 2:31am
Some statistical analysis for those who remember my last chart 2 days ago about max positive change. It will either reach max negative or will break it:
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  • #243,360
  • Aug 5, 2010 2:31am Aug 5, 2010 2:31am
Quoting primzvicious
bounce pls ... gonna jump on the money train again
just jump! the breakout from the supp/res is atm only 31 pips.
Thank You
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