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Cable Update (GBPUSD)

  • #244,321
  • Aug 9, 2010 12:35pm Aug 9, 2010 12:35pm
Seriously don't post if you don't have good supporting information for you trade. I remember earlier this morning people talking about new highs for the pound today, regardless of the technical indicators. Were all here to learn, or i hope we are.
  • #244,322
  • Edited 12:45pm Aug 9, 2010 12:35pm | Edited 12:45pm
Looks like she trying to bounce up off the 200 ema on the 30 min

Going long at 5904.. tight stop 15 pips below that
  • #244,323
  • Aug 9, 2010 12:41pm Aug 9, 2010 12:41pm
Quoting malcolmb14
any one heard a rumour they are rasing rates tomorrow ? lol

now that should get some nice comments....

Thinking we see mark down into 5850 to 5800 before nfp tomorrow.
NFP was last friday did you meant another big news?
  • #244,324
  • Aug 9, 2010 12:47pm Aug 9, 2010 12:47pm
Quoting joemiami
Looks like she trying to bounce up off the 200 ema on the 30 min

Going long at 5904.. tight stop 15 pips below that

That may be a bit early, just wait and see how she is going to react dropping down in the earlier range first.
  • #244,325
  • Aug 9, 2010 12:47pm Aug 9, 2010 12:47pm
Quoting malcolmb14
any one heard a rumour they are rasing rates tomorrow ? lol

now that should get some nice comments....

Thinking we see mark down into 5850 to 5800 before nfp tomorrow.
dear malcomb,
i have very strong support at 5880 and 5865..
but its quite late now..with London already closed and NY got no major news..
will it bounce or break?
what do u think?

regards
forexisbiz
  • #244,326
  • Aug 9, 2010 12:48pm Aug 9, 2010 12:48pm
I hope tomorrow's news bring some Fundamental changes in present outlook which could begin a corrective bear trend to 150 area...
  • #244,327
  • Aug 9, 2010 12:50pm Aug 9, 2010 12:50pm
out of my short +74, I have warned for possible pull back once it was close below 5970 lat Friday. even though we can't rule out any possibilities, but need a fundamental catalyst to eventually break 5970 ( 0.618 fibo of 1.70, 1.450) and 1.6, that might be tomorrow's FOMC release or wed BOE inflation report. meanwhile it could still fall 100-200 pips from current levels on bulls profit taking.....
  • #244,328
  • Aug 9, 2010 12:51pm Aug 9, 2010 12:51pm
Quoting Elite_trader
wed BOE inflation report. meanwhile it could still fall 100-200 pips from current levels on bulls profit taking.....

And Merve's statement afterwards alone can swing it 200 pips.
  • #244,329
  • Aug 9, 2010 12:52pm Aug 9, 2010 12:52pm
Quoting joemiami
Looks like she trying to bounce up off the 200 ema on the 30 min

Going long at 5904.. tight stop 15 pips below that
watch out for the w1 pivot.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 27 KB
Thank You
  • #244,330
  • Aug 9, 2010 12:53pm Aug 9, 2010 12:53pm
Quoting PopIsNotDead
dear malcomb,
i have very strong support at 5880 and 5865..
but its quite late now..with London already closed and NY got no major news..
will it bounce or break?
what do u think?

regards
at least test support.

Someone mentioned fx markets cannot be manipulated long term but they sure can be short term .

All up moves today have hit supply . Is it that the pros know something we do not and that the fomc statement will be bullish for usd ? could just be that that statement says no QE and no rate change .. slow economy etc etc ... sending us stocks markets down of critical resistance area and making usd stronger.

Or could this just be a mark down of sorts , seems that once london closed that is when the pair moved , liekly once volumes dried up ... it could be that one bank is pushing this down ...

for now till that hulls moving average chnages on a 60 I am favouring down move to 850 zone.
Blogging daily now at www.volume.zone
  • #244,331
  • Aug 9, 2010 12:54pm Aug 9, 2010 12:54pm
Quoting cloggie
And Merve's statement afterwards alone can swing it 200 pips.
spot on. thanks
  • #244,332
  • Aug 9, 2010 12:54pm Aug 9, 2010 12:54pm
Quoting malcolmb14

for now till that hulls moving average chnages on a 60 I am favouring down move to 850 zone.

I got my eye on 877 and 861, both part of earlier range set last week. Need a convincing close below 59046 first.
  • #244,333
  • Aug 9, 2010 12:55pm Aug 9, 2010 12:55pm
Quoting Elite_trader
spot on. thanks

The City call him Merve-the-Swerve for a reason.
  • #244,334
  • Aug 9, 2010 12:56pm Aug 9, 2010 12:56pm
Quoting wormboy
watch out for the w1 pivot.
Thanks for the tip.... my stop still in place
  • #244,335
  • Aug 9, 2010 12:57pm Aug 9, 2010 12:57pm
Quoting malcolmb14
any one heard a rumour they are rasing rates tomorrow ? lol

now that should get some nice comments....

Thinking we see mark down into 5850 to 5800 before nfp tomorrow.
you gotta be kidding mal

all the rumors are that will have another round of stimulus to support the deflationary economy, how can they effort to raise rate?!!
  • #244,336
  • Aug 9, 2010 12:59pm Aug 9, 2010 12:59pm
Quoting Elite_trader
you gotta be kidding mal

all the rumors are that will have another round of stimulus to support the deflationary economy, how can they effort to raise rate?!!

For those having a subscription to WSJ, there were some interesting editorials over the weekend.
  • #244,337
  • Aug 9, 2010 12:59pm Aug 9, 2010 12:59pm
Quoting Elite_trader
out of my short +74, I have warned for possible pull back once it was close below 5970 lat Friday. even though we can't rule out any possibilities, but need a fundamental catalyst to eventually break 5970 ( 0.618 fibo of 1.70, 1.450) and 1.6, that might be tomorrow's FOMC release or wed BOE inflation report. meanwhile it could still fall 100-200 pips from current levels on bulls profit taking.....
nice trading.
Thank You
  • #244,338
  • Aug 9, 2010 12:59pm Aug 9, 2010 12:59pm
Quoting cloggie
The City call him Merve-the-Swerve for a reason.
haven't heard of that...
  • #244,339
  • Aug 9, 2010 12:59pm Aug 9, 2010 12:59pm
Quoting wormboy
nice trading.
thanks bro
  • #244,340
  • Aug 9, 2010 1:01pm Aug 9, 2010 1:01pm
Quoting cloggie
I got my eye on 877 and 861, both part of earlier range set last week. Need a convincing close below 59046 first.
yes cloggie..we got almost similar level of support..hopefully it will bounce..
im loading BUY at those levels..small sl though...

GL guys!
forexisbiz
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