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Cable Update (GBPUSD)

  • #257,421
  • Sep 30, 2010 9:18am Sep 30, 2010 9:18am
why has gbp/usd downed so much? was there a news?
  • #257,422
  • Sep 30, 2010 9:20am Sep 30, 2010 9:20am
Quoting cloggie
Check.

If 5744 gives, 5718 is next.

Minor at 5730 is holding her back so far. Covered all, let' see what happens, that was a nice run from 5838.

D@rn, looks like I will be leaving those last 12 pips on the table, shame, need to appraise my methodology can't have that.

Edit: 5716 is the next trigger level, keep an eye on EG 8667 also.
  • #257,423
  • Sep 30, 2010 9:22am Sep 30, 2010 9:22am
i start to falling in love with my daily n weekly..good luck guys...chow
  • #257,424
  • Sep 30, 2010 9:26am Sep 30, 2010 9:26am
Does anyone have a clue why the cable is falling and the euro still holding up despite spain, ireland, portugal...?

I must have missed something!
  • #257,425
  • Sep 30, 2010 9:26am Sep 30, 2010 9:26am
Quoting avalonyu
Does anyone have a clue why the cable is falling and the euro still holding up despite spain, ireland, portugal...?

I must have missed something!

PIIGS are irrelevant here. That is old news. Have a look at EG, that explains the correlation.
  • #257,426
  • Sep 30, 2010 9:27am Sep 30, 2010 9:27am
Quoting Bull_Bear
Good stay with your plan.
I will be, but i am looking at it over and over trying to see where you got 660 from.. would hate to be stopped out within 30 pips before it turned back up
  • #257,427
  • Sep 30, 2010 9:29am Sep 30, 2010 9:29am
Quoting cloggie
Minor at 5730 is holding her back so far. Covered all, let' see what happens, that was a nice run from 5838.

D@rn, looks like I will be leaving those last 12 pips on the table, shame, need to appraise my methodology can't have that.

Edit: 5716 is the next trigger level, keep an eye on EG 8667 also.

Hi Cloggs,

Sorry if this is a stupid question but what do you mean trigger level?

It the last low, so would you put a long order in or would you wait to see if it breaks through and short?

Thanks
  • #257,428
  • Sep 30, 2010 9:29am Sep 30, 2010 9:29am
Quoting grashid
i start to falling in love with my daily n weekly..good luck guys...chow
can i see your trades positions here please rashid?
  • #257,429
  • Sep 30, 2010 9:31am Sep 30, 2010 9:31am
Quoting Sammie
Hi Cloggs,

Sorry if this is a stupid question but what do you mean trigger level?

It the last low, so would you put a long order in or would you wait to see if it breaks through and short?

Thanks

Trigger levels to me are levels of direction, if it goes, I'll get back in my short, if it holds I will buy.

We have a lot of month end flows going into EG, with the dollar weakening and EU up Cable had only one way to go. If 8667 holds on EG, then 5716 will be my trigger for a long, 5747 will confirm that with a target of initially 5777, that will be the next trigger for 5808 and 5838. One level at a time, see how she reacts, move the stop (if you have one) and look for the next level.

Fibre is a lot easier to trade as it respects the levels a lot better, however Cable gives you a larger move in general so it is a trade of, the money is in Cable, the lower risk is in fibre.

Key levels in fibre are 3655 for 3671 and 3692, if 3655 holds we are looking at 3626 and 3612

If 8667 holds on EG, we are looking at 8636 and 8606

Always have a if-then-if scenario to use either as confirmation of your trade/direction, confirmation of your entry or exit.
  • #257,430
  • Sep 30, 2010 9:36am Sep 30, 2010 9:36am
Quoting Bull_Bear
Strong level is 1.5660
+-10pips
Verily, in every difficulties there is relief
  • #257,431
  • Sep 30, 2010 9:39am Sep 30, 2010 9:39am
Quoting grashid
i start to falling in love with my daily n weekly..good luck guys...chow
its created V as u said to me earlier from 1.53
Verily, in every difficulties there is relief
  • #257,432
  • Sep 30, 2010 9:41am Sep 30, 2010 9:41am
4hr shows where support is found...area of that previous 1hr/4hr swing hi/lo zone and weekly pivot and ascending 4hr trend line....price drops to a low of 5715 before a pullback
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ex member
  • #257,433
  • Sep 30, 2010 9:41am Sep 30, 2010 9:41am
Nice Bounce........... on GU
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  • #257,434
  • Sep 30, 2010 9:42am Sep 30, 2010 9:42am
thanks god i dont fall for these crazyness...PA on speed
  • #257,435
  • Sep 30, 2010 9:43am Sep 30, 2010 9:43am
Quoting nAVIN2007
thanks god i dont fall for these crazyness...

But you are a position trader, we daytraders thrive on this mess.
  • #257,436
  • Sep 30, 2010 9:46am Sep 30, 2010 9:46am
Quoting Munal
Nice Bounce........... on GU
Bullish divergence based set-ups on 1 and 5min...5min supportinmg an early 1min entry at potential support cluster, double divergence in 1min l;ead oscillator-osma, showing momentum fading on last 2 legs down on that t/f suggesting that if buyers did emerge at potential support confluence they might overwhelm the exhausted sellers, howsoever temporarilly or permanently that turned out to be.

G/L



http://www.freeimagehosting.net/uploads/6c5740296e.gif
ex member
  • #257,437
  • Sep 30, 2010 9:48am Sep 30, 2010 9:48am
Level 1.5770 - 1.5790 maybe a good sell level if it ever gets there again this week.
  • #257,438
  • Sep 30, 2010 9:49am Sep 30, 2010 9:49am
Quoting cloggie
But you are a position trader, we daytraders thrive on this mess.
i honestly i dont how u can enter a position..and stick to it with this crazyness..but i understand it gives opportunity but how many in here will actually make money..i bet 95% for sure will lose
  • #257,439
  • Sep 30, 2010 9:50am Sep 30, 2010 9:50am
with volatility comes opportunity, this is a great market.
ex member
  • #257,440
  • Sep 30, 2010 9:51am Sep 30, 2010 9:51am
GU is easy. not a "mess"

http://www.forexfactory.com/showthre...38#post4061338
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