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Cable Update (GBPUSD)

  • #248,641
  • Aug 25, 2010 8:37am Aug 25, 2010 8:37am
Quoting Magix
Overall, not that confident in the long position right now...
Way I see it, unless poor results / news comes out of the US, the general trend for cable is downwards. Well, it has pretty much been that way since Monday 9th.
  • #248,642
  • Aug 25, 2010 8:45am Aug 25, 2010 8:45am
short at 5440....lets play the range game everybody!!!


put on your 15min chart hats on and lets make some easy $$
  • #248,643
  • Aug 25, 2010 8:46am Aug 25, 2010 8:46am
Quoting Magic Hat
Way I see it, unless poor results / news comes out of the US, the general trend for cable is downwards. Well, it has pretty much been that way since Monday 9th.
We are actually still a bull daily with a bearish retrace to support, imo.

Check the chart, all we have really done is clear the books on an area that has been bought into. New range on the chart and as far as goes, I am still with the bulls until I get my daily bearish cross. Top of the chart and rejection happened at the weekly 200EMA. From here we traced support back to the daily 200. We can still gain our bull trigger after a little consolidation in this zone and take off like a rocket.

1st chart, targeted h4 and daily range.
2nd chart, new trade zone with retrace.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #248,644
  • Aug 25, 2010 8:50am Aug 25, 2010 8:50am
  •  samirb
  • | Joined Nov 2009 | Status: Investing is simple, but not easy. | 247 Posts
Quoting samirb
Good day everyone..

Trade safe and Good luck
Good day everyone..

Trade safe and Good luckhttp://cdn.forexfactory.com/images/s...m/thumbsup.gif
Attached Thumbnailshttp://cdn.forexfactory.com/attachme...1&d=1282732311 http://cdn.forexfactory.com/attachme...1&d=1282732311

current chart

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  • #248,645
  • Aug 25, 2010 9:03am Aug 25, 2010 9:03am
I see new lows today Magix, you ready for the avalanche?
  • #248,646
  • Edited 9:35am Aug 25, 2010 9:06am | Edited 9:35am
Quoting joemiami
I see new lows today Magix, you ready for the avalanche?
based on what..usd is in the biggest sh*t it could ever be in

news is bad and friggin price is going down..lol (this is why news is impossible to trade, but then again maybe thats just me)

unless its retraced 50% fib on 15 minute chart
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  • #248,647
  • Aug 25, 2010 9:34am Aug 25, 2010 9:34am
Quoting nAVIN2007
based on what..usd is in the biggest sh*t it could ever be in

news is bad and friggin price is going down..lol (this is why news is impossible to trade, but then again maybe thats just me)
I reached into it... again
-2.1$
  • #248,648
  • Aug 25, 2010 9:35am Aug 25, 2010 9:35am
should reach 1.53 next week.
  • #248,649
  • Aug 25, 2010 9:37am Aug 25, 2010 9:37am
Quoting Mészike
I reached into it... again
-2.1$
my friend theres a lot of emotion in yur trading..i can tell cause yur acting just like i did when i started..take it easy and no over trading
  • #248,650
  • Aug 25, 2010 9:39am Aug 25, 2010 9:39am
Quoting witsnpips
should reach 1.53 next week.
Next week? I was hoping it would hit 1.53 by Friday evening
  • #248,651
  • Aug 25, 2010 9:43am Aug 25, 2010 9:43am
Quoting monkey@forex
Next week? I was hoping it would hit 1.53 by Friday evening
it might..
  • #248,652
  • Aug 25, 2010 9:45am Aug 25, 2010 9:45am
Quoting monkey@forex
Next week? I was hoping it would hit 1.53 by Friday evening
That's a little too much to ask, but renewed USD buying interest, closed long for 40 pips, at least It buys me a steak tonight

Attached Image
Don't be a hero. Don't have an ego. Always question yourself
  • #248,653
  • Aug 25, 2010 9:57am Aug 25, 2010 9:57am
Quoting USD-Bear
That's a little too much to ask, but renewed USD buying interest, closed long for 40 pips, at least It buys me a steak tonight
Hopefully a BULL - STEAK
  • #248,654
  • Aug 25, 2010 10:07am Aug 25, 2010 10:07am
Quoting joemiami
I see new lows today Magix, you ready for the avalanche?
In your crystal eight ball?

No one can say where the market is going at any given point in time. We can speculate through our analysis where it might be heading, but we can never be 100% sure. You come across that this 'avalanche' is a certainty. You can never be certain with anything in this market!

For starters we still have to get through the demand area on h4 as indicated in my post yesterday -

http://www.forexfactory.com/showthre...20#post3973520
  • #248,655
  • Aug 25, 2010 10:14am Aug 25, 2010 10:14am
Quoting bbakker
In your crystal eight ball?

No one can say where the market is going at any given point in time. We can speculate through our analysis where it might be heading, but we can never be 100% sure. You come across that this 'avalanche' is a certainty. You can never be certain with anything in this market!

For starters we still have to get through the demand area on h4 as indicated in my post yesterday -

http://www.forexfactory.com/showthre...20#post3973520
aint that the truth..
  • #248,656
  • Aug 25, 2010 10:36am Aug 25, 2010 10:36am
My mistake, I admit it...definite ascending triangle, but i caught earlier from 5428, so far so good.....
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  • #248,657
  • Aug 25, 2010 10:48am Aug 25, 2010 10:48am
Pound reverses losses to inch higher after Ifo data
* Traders say sterling's gains could be temporary
* Loose monetary policy and concerns about U.S. to weigh
  • #248,658
  • Aug 25, 2010 11:01am Aug 25, 2010 11:01am
Quoting joemiami
My mistake, I admit it...definite ascending triangle, but i caught earlier from 5428, so far so good.....
I really do not understand your analysis and logic. One minute you state that cable is going to drop like an avalanche and your next post tells us that you are long. Is this one of your infamous hedges?

Anyway, so long you are happy with your own trading, there is nothing really for me to add apart from the fact that I won't be following any of your analysis on here.

Good luck!
  • #248,659
  • Aug 25, 2010 11:08am Aug 25, 2010 11:08am
Quoting bbakker
I really do not understand your analysis and logic. One minute you state that cable is going to drop like an avalanche and your next post tells us that you are long. Is this one of your infamous hedges?

Anyway, so long you are happy with your own trading, there is nothing really for me to add apart from the fact that I won't be following any of your analysis on here.

Good luck!
It's just that a lot of people think a few pips up or down can make the trend.
You are tempted to do that by looking at the lower TF's.
Most people would be well advised to use TF's below H1 only for timing and TF's above H1 for decision making.........
Don't be a hero. Don't have an ego. Always question yourself
  • #248,660
  • Aug 25, 2010 11:11am Aug 25, 2010 11:11am
The ways I see it....

NY could easily trade the range defined by the green box and still keep this in a downtrend to retest the daily.

We are positive mo on the day and with London outa the picture and no real strong direction, I will keep my one long in the run, and hold until I see a good reason not to.

A proper move to clear the books would follow the path of the arrow inside.

Just a thought.
Attached Image (click to enlarge)
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