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Cable Update (GBPUSD)

  • #244,661
  • Aug 10, 2010 2:09pm Aug 10, 2010 2:09pm
Quoting bbmac
the 1hr chart shows where price is pulling back from

G/L
Nice little pullback indicated by the bearish div set-up on 1min trigger at potential res shown in quote above...with 5min o/b extremne read oscillators supporting....allowing this o/b condition to unwind before the hidden div 1min buy the dip play...have just been stopped out the Re-entry at B/e...shame, but still some good plays including the 5min bullish thrust candle above recent 5min highs that closed at 1920pm Uk time giving a good entry to the fomc data react..

Finishing here,

G/L
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ex member
  • #244,662
  • Aug 10, 2010 2:11pm Aug 10, 2010 2:11pm
Quoting GlobalMacro
that's right... those options survived by a single pip (1.5999 unbelievable!)
there is also a possibility that they're close to expiration...if you recall the range started just below 1.60 early last week...
Yes. Thanks for the analysis. I've sort of been following your posts for a few weeks now... very nice. ha I'd give you my vouch but mine doesn't really count for anything.
  • #244,663
  • Aug 10, 2010 2:12pm Aug 10, 2010 2:12pm
Quoting trending
It broke a trendline so it may go near 1.6.
the requisite strength is there....
Hear the music before the song is over ...
  • #244,664
  • Aug 10, 2010 2:14pm Aug 10, 2010 2:14pm
Quoting gotpips92
Yes. Thanks for the analysis. I've sort of been following your posts for a few weeks now... very nice. ha I'd give you my vouch but mine doesn't really count for anything.
no problem man thanks...
if you're already in a long position that's fine but if not no reason to rush now after this quick rise...
Hear the music before the song is over ...
  • #244,665
  • Aug 10, 2010 2:18pm Aug 10, 2010 2:18pm
Quoting gotpips92
ideally, However, BOe has me a touch concerned...
I believe that might be an understatement, especially 'bearing in mind' how many things have come to light over the last few days in particular, here in the UK.... Not all is as it seems.
  • #244,666
  • Aug 10, 2010 2:20pm Aug 10, 2010 2:20pm
Quote
Originally Posted by GlobalMacro http://cdn.forexfactory.com/images/buttons/viewpost.gif
that's right... those options survived by a single pip (1.5999 unbelievable!)
there is also a possibility that they're close to expiration...if you recall the range started just below 1.60 early last week...

Quoting gotpips92
Yes. Thanks for the analysis. I've sort of been following your posts for a few weeks now... very nice. ha I'd give you my vouch but mine doesn't really count for anything.
I gave him one for you ... I've been meaning to do that for a few days now anyway.
******************* I'd rather make money than be right.
  • #244,667
  • Aug 10, 2010 2:22pm Aug 10, 2010 2:22pm
Quoting 4xStar
I gave him one for you ... I've been meaning to do that for a few days now anyway.

emmmmmmmm sounds cool..........
  • #244,668
  • Aug 10, 2010 2:23pm Aug 10, 2010 2:23pm
Quoting 4xStar
I gave him one for you ... I've been meaning to do that for a few days now anyway.
Thanks 4xstar, I'd give you one too
  • #244,669
  • Aug 10, 2010 2:26pm Aug 10, 2010 2:26pm
We are not gamblers but forex traders. Now forget those casinos that gave birth to Martingale. Can you look at your chart on either H1 or H4 and tell me it's going up?

Precap2
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #244,670
  • Aug 10, 2010 2:29pm Aug 10, 2010 2:29pm
There are a few scenarios here. Number one lets not forget we have Mr. King speaking tomorrow. Lets also remember that the US economy tanked first several years ago and is ahead of the curve, compared to the UK. Is the UK's positive numbers a blanket due to the QE ? So we could possibly see 710 or lower tomorrow. Is this just a retracement setting up the next wave down. Or was 710 the retracement to blow past 600? I do not think with the FEDS statement their are enough fundamentals to drive the market over the 600, not yet. Not until we hear what King has to say and how the UK economy is really sitting. Which two days ago they were saying it is not as healthy as the numbers are saying.

With all that in mind I think we see a pullback from this last move up and we may see 930 to 950 then down again. I am looking at a buy as I am typing 830 to 800. For a leg up. Selling at 930 - 950. I have no target for a down move other then 725. I would have to see 700 taken out to look for lower targets.

This is what I am seeing, not that I am right but makes perfect sense to me on a fundamental and technical outlook. Using fibs, s&r and pa.
  • #244,671
  • Aug 10, 2010 2:33pm Aug 10, 2010 2:33pm
Quoting 4xStar
I gave him one for you ... I've been meaning to do that for a few days now anyway.
Cheers 4x...does that mean I can call you "sista" now...?...(no,no,no...just kidding...LOL)

I appreciate it....
Hear the music before the song is over ...
  • #244,672
  • Aug 10, 2010 2:41pm Aug 10, 2010 2:41pm
Quoting GlobalMacro
Cheers 4x...does that mean I can call you "sista" now...?...
Sure .. we're just one big family
And it's better than calling me 'Mom'
******************* I'd rather make money than be right.
  • #244,673
  • Aug 10, 2010 2:47pm Aug 10, 2010 2:47pm
Quoting 4xStar
Sure .. we're just one big family
And it's better than calling me 'Mom'
alright then sista...

she bounced off that figure pretty hard...but relative to the strong rise not a big deal yet...methinks...

right...I'm outta here...laters...
Hear the music before the song is over ...
  • #244,674
  • Aug 10, 2010 2:49pm Aug 10, 2010 2:49pm
Quoting Fudomyo
Adrian, Keep in mind that USD weakness is driving the pair atm, not Sterling strength. The USDX retrace stalled at 15.97% pullback on the Daily and is positioned to challenge support again. So no matter how bad things seem in GB, the Pound still has room to rise.
Thanks for the above.

Maybe I didn't write really what I meant.

What I meant was that 'all is not what it seems' with the UK's economy and like our friends from across the pond' we have been told many things which are not necessarily true recently not just by our government but by those who are supposed to be our 'protectors and financiers', that is what I meant.

The Pound may well appear to be the stronger currency at the present time, but as we all know 'TIME' is always a factor of TRUTH too.
  • #244,675
  • Aug 10, 2010 3:01pm Aug 10, 2010 3:01pm
Quoting USD-Bear
For me it's just finding optimal r/r
I'm not selling in a clear uptrend.
1.555 is not an entry level, it's a level where I would be interested if it gives support. If PA develops unexpected I'll reconsider my chances look for other pairs and other configurations.
I fail to see why some of you are so eager to fetch every move, there are millions of them.....
One thing is discussing logic and trade strategy, but this is clearly just talking out of your ass.

You won't sell because we are clearly in an uptrend, but you won't buy until price sinks another 300 pips.

It isn't about being eager to catch every move, I have a very clear and defined set of trade rules that I abide by and respect others with some direct clear concept of market, which my friend, in the last few statements I have read of yours, does not exist.

Again, I am not telling you to buy or sell, because quite frankly I could give a shit less what you do, really has no impact on my trade day...

BUT....

Perhaps if you are going to post crap like this again, either have a clear and sensible thought, or perhaps pm it to a friend for a proof read. There really is no winning in these types of conversations and you will only continue to make yourself out to look like an ass.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #244,676
  • Aug 10, 2010 3:16pm Aug 10, 2010 3:16pm
Not attempting to make any predictions here.

Thought I would show a few lines on the chart that some may not have seen.

BR
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  • #244,677
  • Aug 10, 2010 3:36pm Aug 10, 2010 3:36pm
Too much analysis takes away too much pips from ma pocket. I quit analysing and wait for a clean direction. Only I'll do M5 only. GU has failed to kick thru 5860 for an hour now. I might ride south for a while. Scalpzermania!

Precap2
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #244,678
  • Aug 10, 2010 3:37pm Aug 10, 2010 3:37pm
Even though I'm not a raving fan of MA's, I think the 200 SMA on the hourly could lend some support to the pair. (that's the red one)
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Probability Professor
  • #244,679
  • Aug 10, 2010 3:38pm Aug 10, 2010 3:38pm
Quoting Magix
One thing is discussing logic and trade strategy, but this is clearly just talking out of your ass.

You won't sell because we are clearly in an uptrend, but you won't buy until price sinks another 300 pips.

It isn't about being eager to catch every move, I have a very clear and defined set of trade rules that I abide by and respect others with some direct clear concept of market, which my friend, in the last few statements I have read of yours, does not exist.

Again, I am not telling you to buy or sell, because quite frankly I could give a shit...
Dear Magix,

If the chart I presented did not gave enough information why 1.555 could be an interesting level to go long for me, it could be fruitful to ask me where this level is based on instead of telling me it has no sense and telling me I'm talking from my ass.
You may have a very clear and defined set of trade rules, but you could respect others.
After working more then 40 years as a certified financial analyst I have my own views and some of them can't be explained without the necessary experience.
That being said, I'll refrain my comments from this thread, I have better things to do then responding to insulting messages from guys like you.
Wish you all good pipping.....
Don't be a hero. Don't have an ego. Always question yourself
  • #244,680
  • Aug 10, 2010 3:41pm Aug 10, 2010 3:41pm
Putting a retrace on the final leg up to the recent high shows why we turned back up ( at 1.62 ) and apotential lower target ( at 2.62 ) which just happens to be at 1.5530. Near enough to the 1.5528 ( Daily 200SMA )mentioned in my previous post.

BR
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