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Cable Update (GBPUSD)

  • #246,261
  • Aug 17, 2010 10:12am Aug 17, 2010 10:12am
Quoting cyxrulzfx
135 136 area quite possible on gj and gu it might go to 1.58 area

It usually doesn't take long does it?
  • #246,262
  • Aug 17, 2010 10:14am Aug 17, 2010 10:14am
Buy at 1.5570

http://i36.tinypic.com/avsfmd.gif


KG
  • #246,263
  • Aug 17, 2010 10:17am Aug 17, 2010 10:17am
Quoting worktowin
id rather try shorting that 5570, aud gbp s brocken out could put the pound under preassure from a few sides, but u never know eather ways good if you think about it short or long go with the flow
I'd rather take a long here
Support level and look at any other usd pairs, it's going up...just a matter of time before gbp follows...At least you can get few pips off it
COT: The precious data ignored
  • #246,264
  • Aug 17, 2010 10:33am Aug 17, 2010 10:33am
Quoting kuroro001
I'd rather take a long here
Support level and look at any other usd pairs, it's going up...just a matter of time before gbp follows...At least you can get few pips off it
Fundamentals (Cloggie mentioned them) show me a strong GU therefor bias is long.
USD looks weak.
For some reasons (I do not understand) G is weaker then U today.
Even the long existing LTL on GU mentioned by Magix wasn't respected.
Conclusions apart from scalping:
1. No shorts for me
2. Waiting for longs if and only if G gains relative strength against U
Don't be a hero. Don't have an ego. Always question yourself
  • #246,265
  • Aug 17, 2010 10:41am Aug 17, 2010 10:41am
Quoting bbakker
A polyglot too! You surprise me FL or did Google have a hand!
Unfortunately, my unit was stationed in Congo as part of UN peace keeping forces, so learnt a bit there out of need.
  • #246,266
  • Aug 17, 2010 10:42am Aug 17, 2010 10:42am
Quoting kuroro001
I'd rather take a long here
Support level and look at any other usd pairs, it's going up...just a matter of time before gbp follows...At least you can get few pips off it

If it had been earlier in the day I might be tempted to agree, but with less than 30 minutes for London to go and with such a strong down-trend, I would '''bet''' it will continue downwards.......Usually does when this happens this time of day
  • #246,267
  • Aug 17, 2010 10:45am Aug 17, 2010 10:45am
Make a plan and trade your plan.
If not you are going to transform yourself into this:

http://observateurnature.blog50.com/...ette-nt-08.jpg

LOL
"Flip that coin!"
  • #246,268
  • Aug 17, 2010 10:49am Aug 17, 2010 10:49am
Quoting AdrianHNV
If it had been earlier in the day I might be tempted to agree, but with less than 30 minutes for London to go and with such a strong down-trend, I would '''bet''' it will continue downwards.......Usually does when this happens this time of day
Guessing from your posts that you're short, Adrian?
  • #246,269
  • Aug 17, 2010 10:53am Aug 17, 2010 10:53am
hi, i'm 11 months old. can only scalp cos dont have the money for big SL. Thanks to the amazing people on this thread/forum i feel that i'm making progress. Today i have done +68 /-28 ..is anyone interested in telling me whether this is good progress or not., this is the ratio that i'm achieving most days now.Untill recently(6 weeks ago) i was breaking even at best.Occassionly BIG profit but averaged out by consistent loss. This is a serious question !!!
Also i would like to say that if i were in a position to vouch ,the following ,in no particular order, would have my wholehearted support or resistance whichever they would prefer: Cloggie, 4xStar,Magix,WB, bbmac, GM, 4xTrader.Digger,Tau trader and if i've forgotten anyone please bear with me i'm a little slow at picking up on names. Input would be much appreciated.Thanx all.
All systems of divination, like music itself,work through patterns.
  • #246,270
  • Aug 17, 2010 10:57am Aug 17, 2010 10:57am
Quoting gammase1
Guessing from your posts that you're short, Adrian?

I'm short on GBP/USD and long on USD/GBP, so you could say I have an interest in both.

It was only an observation that someone pointed out too me a few weeks ago, which is why I mentioned it here. Usually when the market moves down significantly before 4.30is then as soon as London closes it usually continues..............

Personally I only trade what I see, not what I think I see....
  • #246,271
  • Aug 17, 2010 10:58am Aug 17, 2010 10:58am
Quoting kuroro001
I'd rather take a long here
Support level and look at any other usd pairs, it's going up...just a matter of time before gbp follows...At least you can get few pips off it
just a head's up mate. price is sitting at the neckline. Once the support goes, there will be no longs for quite a while I reckon.
Have a good one.
Attached Image (click to enlarge)
Click to Enlarge Name: gu4.gif Size: 26 KB
Thank You
  • #246,272
  • Aug 17, 2010 11:03am Aug 17, 2010 11:03am
Nice observation, I did nt notice that H&S in play.
Even if I'm short bias all ready, Thx!

Later Azim!


Quoting wormboy
just a head's up mate. price is sitting at the neckline. Once the support goes, there will be no longs for quite a while I reckon.
Have a good one.
"Flip that coin!"
  • #246,273
  • Aug 17, 2010 11:08am Aug 17, 2010 11:08am
Quoting Scipionz
Nice observation, I did nt notice that H&S in play.
Even if I'm short bias all ready, Thx!

Later Azim!
yup, nice buildup to the shorts once price bounced hard at the w1 pvp.
be nice if we get to test the monthly pvp in a day or two

later matt, take care
Thank You
  • #246,274
  • Aug 17, 2010 11:16am Aug 17, 2010 11:16am
I went short on 1.5575, with SL on 1.5608

Good luck to all...
  • #246,275
  • Aug 17, 2010 11:35am Aug 17, 2010 11:35am
Correct me if i'm wrong...but doesnt Ny go to lunch as London closes.. therefore all a bit higgledy piggledy for an hour or so.. ? And then Asia kicks in a few hours later and tends to go in the opposite direction....err umm...New to this time of trading....just a thought
All systems of divination, like music itself,work through patterns.
  • #246,276
  • Aug 17, 2010 11:38am Aug 17, 2010 11:38am
Quoting primzvicious
here is my current view
http://cdn.forexfactory.com/attachme...0&d=1281612682

now this pattern continues... either retest 700 area and drop hard or she starting to test lower target area @ 450, 338 and 269
Attached Image (click to enlarge)
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Verily, in every difficulties there is relief
  • #246,277
  • Aug 17, 2010 11:38am Aug 17, 2010 11:38am
Quoting kaspopsicle
Correct me if i'm wrong...but doesnt Ny go to lunch as London closes.. therefore all a bit higgledy piggledy for an hour or so.. ? And then Asia kicks in a few hours later and tends to go in the opposite direction....err umm...New to this time of trading....just a thought
You could be right.

I too am new too the forex industry.

Fortunately not to the financial world though
  • #246,278
  • Aug 17, 2010 11:49am Aug 17, 2010 11:49am
I'll either wait for a Bounce on the 100Ma or a Breakout of the1.55600 area Until it enter the Market This puppy still has a long way to Go before a Bullish reversal.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 13 KB
Best Regards Moneymike
  • #246,279
  • Aug 17, 2010 11:58am Aug 17, 2010 11:58am
Quoting AdrianHNV
You could be right.

I too am new too the forex industry.

Fortunately not to the financial world though
Glad to hear the financial world is known to you.i'm sure the're happy too.
Sooooooooooooooo... a brain to pick on fundymental?
You are fortunate in having some background.
i sell Fish ... good with people ,hopeless at the brainy stuff.
All systems of divination, like music itself,work through patterns.
  • #246,280
  • Aug 17, 2010 11:58am Aug 17, 2010 11:58am
This 100 pip move down off of a 5m CRS hasn't
help my 'grand design' with the higher tf patterns.
It's caused the EMAs on 15m to curl over and the
30m and 1h to further separate short of their full
compressions.

The 4h and daily may ultimately be helped by any
down move but an energy release from simply a
5m CRS ain't gonna budge these higher tf.

Well at least I made some pips and "saved money
on Geico Ins." LOL

Dr. D.
Attached Image
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