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Cable Update (GBPUSD)

  • #254,741
  • Sep 21, 2010 10:24am Sep 21, 2010 10:24am
Hi Wormboy

Well done for dealing with unecessary hassles and still finding time to help other traders.

Also thanks for clear explanations in your charts.

V
  • #254,742
  • Sep 21, 2010 10:26am Sep 21, 2010 10:26am
Good day to you,

Should 1.5558/60 hold as resistance, a close @ 1.5460 / 1.5455 today is highly probable. Price currently trapped between the daily open @ 1.5542 and yesterdays low @ 1.5536. Watch 1.5508 - the 50% line of the months range.

Should 1.5558/60 become support, we go to 1.5620

Regards
Attached Image (click to enlarge)
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  • #254,743
  • Sep 21, 2010 10:34am Sep 21, 2010 10:34am
Quoting TauTrader
Good day to you,

Should 1.5558/60 hold as resistance, a close @ 1.5460 / 1.5455 today is highly probable. Price currently trapped between the daily open @ 1.5542 and yesterdays low @ 1.5536. Watch 1.5508 - the 50% line of the months range.

Should 1.5558/60 become support, we go to 1.5620

Regards

nice analysis as always
Verily, in every difficulties there is relief
  • #254,744
  • Sep 21, 2010 10:37am Sep 21, 2010 10:37am
buy @ 1.5512 perfectly bounced off 100wma on 4h, still floating till now but the macd still down on 4h . what do you think guys??
Attached Image (click to enlarge)
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  • #254,745
  • Sep 21, 2010 10:37am Sep 21, 2010 10:37am
I'm not sure why anyone would be entering a trade right now...

I posted my view last night (long bias) and I added to my position with the run down to the low 1.55s so I'm now averaged at 1.5530

Call me crazy, but I'm looking for a target of 1.5900ish. I don't mess around with shorter time-frames (I enjoy my life too much to sit in front of the charts all the time) and prefer the 4 hour or daily charts with the occasional 1 hour thrown in.

But here at these levels (currently 1.5554) I just don't get why anyone would be putting on a trade. We're at a point of indecision and with the FOMC statement just a few hours away it seems like lunacy to me.

Gamble much?
check out my blog: forexmademillionaire dot com
  • #254,746
  • Sep 21, 2010 10:40am Sep 21, 2010 10:40am
Quoting TauTrader
Good day to you,

Should 1.5558/60 hold as resistance, a close @ 1.5460 / 1.5455 today is highly probable. Price currently trapped between the daily open @ 1.5542 and yesterdays low @ 1.5536. Watch 1.5508 - the 50% line of the months range.

Should 1.5558/60 become support, we go to 1.5620

Regards
True, nice S/R levels and may be FOMC Statement may make G/U break out, if not then tomorrow.
  • #254,747
  • Sep 21, 2010 10:43am Sep 21, 2010 10:43am
Quoting wormboy
There's a bigger one on the H4, except it's on the opposite side.
Just a heads up. Good luck with your trades.
Thanks for the heads-up, appreciate it.
Are you treadstone?
  • #254,748
  • Sep 21, 2010 10:43am Sep 21, 2010 10:43am
Quoting Geppy
...
But here at these levels (currently 1.5554) I just don't get why anyone would be putting on a trade. We're at a point of indecision and with the FOMC statement just a few hours away it seems like lunacy to me.

Gamble much?
Take a visit to Vegas and drive or walk slowly past the casinos at 6 am, noon, 6pm, midnight, 3 am ... packed with people 24/7, slot machines whirring, blackjack & crap tables packed, poker rooms full .. there's your answer.

What I always wonder is .. where do they all get a seemng endless supply of money???

PS My Uncle who lived there says he knew someone who came to Vegas for the weekend and left with a small fortune.

However.... when he arrived he had a large fortune.....
******************* I'd rather make money than be right.
  • #254,749
  • Sep 21, 2010 10:49am Sep 21, 2010 10:49am
Quoting Geppy
I'm not sure why anyone would be entering a trade right now...

I posted my view last night (long bias) and I added to my position with the run down to the low 1.55s so I'm now averaged at 1.5530

Call me crazy, but I'm looking for a target of 1.5900ish....
im not entering im marking entries
Verily, in every difficulties there is relief
  • #254,750
  • Sep 21, 2010 10:52am Sep 21, 2010 10:52am
Quoting egkid
Catch u tomorrow @US Session when i back from my work
(My position still in Play), Time to get some sleep
Hi all
Back home and My position still in play
  • #254,751
  • Sep 21, 2010 10:52am Sep 21, 2010 10:52am
Quoting Precap2
From Homo Sapiens to Homo Stupidens. We're making progress surely
Just finished wife's assignment, I'm free once more to contribute and join the Homo fights. No more war is not a good slogan, war keeps us warm all the time.

P
Just came back from watching TV, pipchick was right, there is nothing to trade and too tired to scalp.

I just cannot stop thinking about how pipstunner got crushed by a worm for our amusement.
  • #254,752
  • Sep 21, 2010 10:54am Sep 21, 2010 10:54am
Quoting Geppy
I'm not sure why anyone would be entering a trade right now...

I posted my view last night (long bias) and I added to my position with the run down to the low 1.55s so I'm now averaged at 1.5530

Call me crazy, but I'm looking for a target of 1.5900ish....
I call you excellent trader
  • #254,753
  • Sep 21, 2010 10:57am Sep 21, 2010 10:57am
Quoting egkid
I call you excellent trader
Haha, thanks bro. I spend most of my time in the GBP/JPY thread, but this one is more active and serves more entertainment (read: drama) when I'm bored
check out my blog: forexmademillionaire dot com
  • #254,754
  • Sep 21, 2010 11:03am Sep 21, 2010 11:03am
Quoting Geppy
Haha, thanks bro. I spend most of my time in the GBP/JPY thread, but this one is more active and serves more entertainment (read: drama) when I'm bored
we win by getting u here
hope to c more post from u in future
  • #254,755
  • Sep 21, 2010 11:04am Sep 21, 2010 11:04am
I am out of my long at 50 for +40 pips (which is effectively 20 pips on my account as it was half stakes). Still bullish but market usually really slows down after 5 and i'd like something to show for the day.

Long order in at 470.
  • #254,756
  • Sep 21, 2010 11:04am Sep 21, 2010 11:04am
Not fantastic but scalping shorts is productive, so far 2 for over 12 pips each.

Green pips no matter how I get them are welcome.
  • #254,757
  • Sep 21, 2010 11:10am Sep 21, 2010 11:10am




Quoting Geppy
I'm not sure why anyone would be entering a trade right now...

I posted my view last night (long bias) and I added to my position with the run down to the low 1.55s so I'm now averaged at 1.5530

Call me crazy, but I'm looking for a target of 1.5900ish....
  • #254,758
  • Sep 21, 2010 11:12am Sep 21, 2010 11:12am
Quoting 4xStar
Take a visit to Vegas and drive or walk slowly past the casinos at 6 am, noon, 6pm, midnight, 3 am ... packed with people 24/7, slot machines whirring, blackjack & crap tables packed, poker rooms full .. there's your answer.

What I always wonder is .. where do they all get a seemng endless supply of money???

PS My Uncle who lived there says he knew someone who came to Vegas for the weekend and left with a small fortune.

However.... when he arrived he had a large fortune.....
The same thing that makes you wonder where gamblers get money will continue to make you wonder where the traders you hum hum about get money. The mathematics

Edit: My short has 22 pips already. we're not all the same kind of traders. I have account where I play long term and the short term accounts keep doing better
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #254,759
  • Sep 21, 2010 11:13am Sep 21, 2010 11:13am
Quoting TauTrader
Good day to you,

Should 1.5558/60 hold as resistance, a close @ 1.5460 / 1.5455 today is highly probable. Price currently trapped between the daily open @ 1.5542 and yesterdays low @ 1.5536. Watch 1.5508 - the 50% line of the months range.

Should 1.5558/60 become support, we go to 1.5620

Regards
Good day to you,

Further to my previous post, and without attempting to bore you, what I see in a bigger picture.

1) If we have to take into account the movement since start of last week, bullishness ruled. The pink line is the general directional support for this statement.

2) However, bringing into account the current week, we are in bearish territory for the week, but still slightly bullish over the 2 weeks combined.

3) Adding the daily activity, we are neither - we are back at the starting price for today.

So - only a clear break above 1.5620 will have a longer term bullish continuation. Only a clear break (time dependent) of the 1.5500 level, may see a bearish continuation to possibly retest the mid 1.53xx area.

We are basically back in the wider channel that has been in place for quite some time. Just a thought... my apology if I state the obvious.

Trade well!

Regards
Attached Image (click to enlarge)
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  • #254,760
  • Sep 21, 2010 11:23am Sep 21, 2010 11:23am
Quoting Geppy
I'm not sure why anyone would be entering a trade right now...


Gamble much?
lots of different ways to trade Geppy,I've made 140 pips so far by sitting in front of charts all day
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