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Cable Update (GBPUSD)

  • #255,781
  • Sep 24, 2010 8:07am Sep 24, 2010 8:07am
Alright ladies and gents, been a nice ride up but know you are coming into a major level 1.5820 and minor resistance at 1.5800.

I expect to take my long position off for a retrace around 1.5820.
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Veni, Vidi, Vici (We came, we saw, we conquered)
  • #255,782
  • Sep 24, 2010 8:07am Sep 24, 2010 8:07am
Is today the day for rebalancing? Last Friday of the month at 1500GMT?

  • #255,783
  • Sep 24, 2010 8:12am Sep 24, 2010 8:12am
if price breaks above the prev hi and DX breaks below the prev low, the GU Fe 100 will prolly be reached.
  • #255,784
  • Sep 24, 2010 8:13am Sep 24, 2010 8:13am
Quoting trending
Made the same mistake before. Yen drop hard as well, as both USD and Yen are risk averse currencies. Look at UCAD.
Ok, thanks.
  • #255,785
  • Sep 24, 2010 8:19am Sep 24, 2010 8:19am
Quoting Bull_Bear
Alright ladies and gents, been a nice ride up but know you are coming into a major level 1.5820 and minor resistance at 1.5800.

I expect to take my long position off for a retrace around 1.5820.
This is my short: 5793 with s/l at 5830. adding at 5810 also s/l at 5830...

TP 5740... I'll maybe go long from around there again...
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@pawpaw1000 on Twitter
  • #255,786
  • Sep 24, 2010 8:26am Sep 24, 2010 8:26am
Hmmm, just as I thought... I awake to find us trading much higher
check out my blog: forexmademillionaire dot com
  • #255,787
  • Sep 24, 2010 8:30am Sep 24, 2010 8:30am
Please tell me you guys agree that the economic problems of the world are faaaar from over. Double dip is almost a certainty and Money printing is guaranteed.

I don't understand how economists like this come out and say "we're great, no DD in sight"... WTF

http://www.businessweek.com/news/201...ble-goods.html
@pawpaw1000 on Twitter
  • #255,788
  • Sep 24, 2010 8:32am Sep 24, 2010 8:32am
Quoting pawpaw1000
This is my short: 5793 with s/l at 5830. adding at 5810 also s/l at 5830...

TP 5740... I'll maybe go long from around there again...
i am with you in this short and long again from 5740 good luck

ub
  • #255,789
  • Sep 24, 2010 8:35am Sep 24, 2010 8:35am
5796 the current intraday Hi as bulls push price further following the pullback from 5730-5700. Only 1 remaining unbreeched fib of the moves down from and including 5797 - 5296, that being the 76.4% of 5797-5296 @ 5830. Above here and there is a previous 4hr swing hi zone running up to 5909 and above that the previous 4hr/daily swing hi zone to the 5997 Hi.

Price at it's intraday Hi at 113% of it's 20day average pip zone....and 90% of it's 13 week average range. Big 1hr bullish thrust candle broke the previous 5741 high.

Monthly and Weekly R1 are in the 5790 area and Daily R2 @ 5808

G/L
ex member
  • #255,790
  • Sep 24, 2010 8:37am Sep 24, 2010 8:37am
Quoting pawpaw1000
Please tell me you guys agree that the economic problems of the world are faaaar from over. Double dip is almost a certainty and Money printing is guaranteed.

I don't understand how economists like this come out and say "we're great, no DD in sight"... WTF

http://www.businessweek.com/news/201...ble-goods.html
I definitely agree with you, but that's just the way the world works. The people with power know the majority/average person can't handle the truth. There would be too much irrational and widespread panic if they were just up-front about how things are and it would be harder for them to deal with a public uprising.

That doesn't mean I agree with their tactics.
check out my blog: forexmademillionaire dot com
  • #255,791
  • Sep 24, 2010 8:39am Sep 24, 2010 8:39am
Quoting pawpaw1000
This is my short: 5793 with s/l at 5830. adding at 5810 also s/l at 5830...

TP 5740... I'll maybe go long from around there again...
PP if it was me I'd hang on to my short trade for now. 1.5800 is R2 and previous resistance but the real major resistance is the long term TL.

Here's a birds eye view.
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Veni, Vidi, Vici (We came, we saw, we conquered)
  • #255,792
  • Sep 24, 2010 8:43am Sep 24, 2010 8:43am
Quoting Bull_Bear
PP if it was me I'd hang on to my short trade for now. 1.5800 is R2 and previous resistance but the real major resistance is the long term TL.

Here's a birds eye view.

Thanks BB, your post above just reminded me to look at my daily chart and saw the descending trend line which today comes in around 5885.

G/L
ex member
  • #255,793
  • Sep 24, 2010 8:44am Sep 24, 2010 8:44am
weekly and monthly R1 at 787 and 790, daily R2 at 807... what is the resistance at 820?
  • #255,794
  • Sep 24, 2010 8:46am Sep 24, 2010 8:46am
Quoting Bull_Bear
PP if it was me I'd hang on to my short trade for now. 1.5800 is R2 and previous resistance but the real major resistance is the long term TL.

Here's a birds eye view.
I've been saying it for days and I'll say it again... you bears are crazy right now!
check out my blog: forexmademillionaire dot com
  • #255,795
  • Sep 24, 2010 8:50am Sep 24, 2010 8:50am
Quoting bbmac
Thanks BB, your post above just reminded me to look at my daily chart and saw the descending trend line which today comes in around 5885.

G/L
No prblems MAC attack

How's your trading coming along mate? Riding her well I suspect.
Attached Image (click to enlarge)
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Veni, Vidi, Vici (We came, we saw, we conquered)
  • #255,796
  • Sep 24, 2010 8:50am Sep 24, 2010 8:50am
Quoting Geppy
I've been saying it for days and I'll say it again... you bears are crazy right now!
Yeah, because I think if that previous h1 candle hi is broken that price will go straight to 5822 then 5882. But..ya never know.
  • #255,797
  • Sep 24, 2010 8:52am Sep 24, 2010 8:52am
thank you for pips.... more than 1000 ++ now
Quoting iqyu5an
bull is not over yet.

still holding 5 floating LONG with total 900++ pips.

happy trading and have a weekend to you all.

rgds,iqyu
not euphoria follower
  • #255,798
  • Sep 24, 2010 8:53am Sep 24, 2010 8:53am
Quoting PipChick
Yeah, because I think if that previous h1 candle hi is broken that price will go straight to 5822 then 5882. But..ya never know.
Yep, I'm holding for 1.5900 but may cut it slightly early if we can get within 20/30 pips of it before the weekend.
check out my blog: forexmademillionaire dot com
  • #255,799
  • Sep 24, 2010 8:54am Sep 24, 2010 8:54am
Quoting Bull_Bear
PP if it was me I'd hang on to my short trade for now. 1.5800 is R2 and previous resistance but the real major resistance is the long term TL.

Here's a birds eye view.
Thanks BB,

Didn't look at the D1 chart but was looking at the H4 and the 5820 level as the next resistance and thought I'd start opening a short position with s/l above there...

Reckon we could be going alot lower? I wouldn't bet on it with the weak Dollar?

@pawpaw1000 on Twitter
  • #255,800
  • Sep 24, 2010 8:54am Sep 24, 2010 8:54am
The next US news how much can change the price?
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