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Cable Update (GBPUSD)

  • #244,261
  • Aug 9, 2010 5:14am Aug 9, 2010 5:14am
Quoting gotpips92
why not ride this baby to 1,65
Because i don't have such long term view...I'll take profit at 1,6100 area and wait for a pullback to load some more if i see another upside potential
COT: The precious data ignored
  • #244,262
  • Aug 9, 2010 5:20am Aug 9, 2010 5:20am
Quoting The Magician
Don't speak too soon ...
well, it's boring Magician.... given the fact where usd is sitting at most majors & critical level in usd index and FOMC meeting tomorrow..... have doubt we would see any major move prior to release..... I know most of the guys in this thread are hoping break of 1.6 today, I would be skeptical..... probably tomorrow if FED comments are dovish as recent statements.....
  • #244,263
  • Aug 9, 2010 5:21am Aug 9, 2010 5:21am
Quoting kuroro001
Because i don't have such long term view...I'll take profit at 1,6100 area and wait for a pullback to load some more if i see another upside potential
exactly... but whipsaw therapy stopped me out at BE...train will leave station without me or trend changed
  • #244,264
  • Aug 9, 2010 5:24am Aug 9, 2010 5:24am
Quoting sopel
exactly... but whipsaw therapy stopped me out at BE...train will leave station without me or trend changed
I hope it didn't change...let me hit 1,6100 then it could change
COT: The precious data ignored
  • #244,265
  • Aug 9, 2010 5:29am Aug 9, 2010 5:29am
Following the upside break above the 1hr potential sbr/5min channel top...price has run into supply at the 61.8% fib of the intraday drop....can price rally again from the 5min channel top that it is testing now from the topside following the pullback ?

G/L
ex member
  • #244,266
  • Aug 9, 2010 5:41am Aug 9, 2010 5:41am
Quoting bbmac
Following the upside break above the 1hr potential sbr/5min channel top...price has run into supply at the 61.8% fib of the intraday drop....can price rally again from the 5min channel top that it is testing now from the topside following the pullback ?

G/L
Just went long at 1,5960 following the bounce off 1,5950.
Hammer then bullish candle on high vol...and now a bounce off 1,5950 is enough to get me long.

But what i don't like is eurusd...it's dropping...gbpusd might follow...so tight stop in the way
COT: The precious data ignored
  • #244,267
  • Aug 9, 2010 5:42am Aug 9, 2010 5:42am
Quoting bbmac
Following the upside break above the 1hr potential sbr/5min channel top...price has run into supply at the 61.8% fib of the intraday drop....can price rally again from the 5min channel top that it is testing now from the topside following the pullback ?

G/L
The top of the 5min chanel is shown below-potential rbs...struggling to build on the pullback demand there though at the moment...?..actually I just got stopped at B/e...shame...right idea but slow market conditions...and obvious supply on approaches to that psychological 6000 level, option barriers reported there too...being protected ??

G/L
Attached Image
ex member
  • #244,268
  • Aug 9, 2010 5:44am Aug 9, 2010 5:44am
Quoting kuroro001
Just went long at 1,5960 following the bounce off 1,5950.
Hammer then bullish candle on high vol...and now a bounce off 1,5950 is enough to get me long.

But what i don't like is eurusd...it's dropping...gbpusd might follow...so tight stop in the way
i will follow euro, don't see nothing at the moment to go long.
  • #244,269
  • Aug 9, 2010 5:56am Aug 9, 2010 5:56am
The Bears will bee here soon
  • #244,270
  • Aug 9, 2010 5:59am Aug 9, 2010 5:59am
is there any VSA trader ? i'm not, but so low vol on up bar is weakness ? Down we go ?
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  • #244,271
  • Aug 9, 2010 6:01am Aug 9, 2010 6:01am
...
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  • #244,272
  • Aug 9, 2010 6:15am Aug 9, 2010 6:15am
Quoting AdrianHNV
The Bears will bee here soon

The only certainty is uncertainty...anything can happen...this is all we know Lol !! That 6000 level is being protected though so the bulls have a job on their hands. It's also a data light day...and with U.s fomc stuff tomorrow perhaps as someone said earlier market will be reluctant to add to longs until this is out the way...Boe Qtrly inflation report also out on wednesday.

G/L
ex member
  • #244,273
  • Aug 9, 2010 6:15am Aug 9, 2010 6:15am
Exited position , eurusd is dropping for no reason...gbp might follow
I'll wait for another opportunity
COT: The precious data ignored
  • #244,274
  • Aug 9, 2010 6:32am Aug 9, 2010 6:32am
After that low vol reversed on that divergence.
Hope it will turn into something big.
TP 1.59 ... if it stops i'll drop cable today
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  • #244,275
  • Aug 9, 2010 6:48am Aug 9, 2010 6:48am
Quoting sopel
After that low vol reversed on that divergence.
Hope it will turn into something big.
TP 1.59 ... if it stops i'll drop cable today
I didn't act on that divergence as had no 'full' repeatings set-up to sell there and only resistance I could see was the 61.8% of the intraday fall and a 2nd test of the previous 5min swing hi...I did however sell the close of the master bearish engulfing that developed on that t/f and like all my trades today I grabbed a handful of pips only...Price is still only at 41% of it's 20 day average pip range...

G/L
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ex member
  • #244,276
  • Aug 9, 2010 6:48am Aug 9, 2010 6:48am
Quoting sopel
After that low vol reversed on that divergence.
Hope it will turn into something big.
TP 1.59 ... if it stops i'll drop cable today
Yes i guess you are right.
I might go short after this hourly close...but only to get few pips....the trend is still towards the upside
So 1,5900 would be fine for now ^^
COT: The precious data ignored
  • #244,277
  • Aug 9, 2010 6:56am Aug 9, 2010 6:56am
Quoting kuroro001
Exited position , eurusd is dropping for no reason...gbp might follow
I'll wait for another opportunity
..more to come after this
  • #244,278
  • Aug 9, 2010 7:01am Aug 9, 2010 7:01am
Quoting grashid
..more to come after this
Yeh nice one mate
What made you going short ? just curious ^^
COT: The precious data ignored
  • #244,279
  • Aug 9, 2010 7:11am Aug 9, 2010 7:11am
India Invents Trains Running on Water Surface

Amazing !!!

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  • #244,280
  • Aug 9, 2010 7:28am Aug 9, 2010 7:28am
Sentiment remains mixed intraday reflected in price action on 1hr and below...5min being the prime example...few nailed on hi-probability opportunities so far today as a result...finishing here, G/L with rest of session..
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