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Cable Update (GBPUSD)

  • #258,701
  • Oct 5, 2010 10:20am Oct 5, 2010 10:20am
Quoting Magix
Didn't say load the boat cuz the stream has already changed, but EUR against the USD and GBP and JPY is massively overbought. There will be a correction my friend, oh yes there will.

Hey, I will drop in an order for shorts here, only looking for 300-600 downside....



Shorts
EU - 1.3842
EJ - 114.95
I am shorty myself. at 1.3850 bullflag ABCDE was complete, it was also the 127 fix.ext.
What are your target points?
  • #258,702
  • Oct 5, 2010 10:20am Oct 5, 2010 10:20am
Call me crazy..but I entered short 1.5920..
  • #258,703
  • Oct 5, 2010 10:23am Oct 5, 2010 10:23am
Quoting Geppy
Yeah just slightly outperforming Cable, huh? lol

I think it's got more room yet though and I took the correction this week as an opportunity to hop in. 1.4300/1.44 isn't out of the question... after that, I'd have to jump on the sidelines and play spectator for a bit.
lol yea, i was wondering what on earth i was doing trading this snail fer
I do think she'll be a lot higher before the end of this month. My dx bounce point is around 76. Still a long way to go.
Thank You
  • #258,704
  • Oct 5, 2010 10:23am Oct 5, 2010 10:23am
Quoting WanderingDan
Nice choice.

I am short and waiting for the run.
Happy with 20 pips though, don't fancy holding out for 300 ;-/
Lotsa different ways to skin the cat here WD...

I play the swings and the scalps. Not saying everybody should take my lead, not sure how much they could afford to lose...

The retrace on EJ/EU is way over due, and with EJ showing some weakness and the beginning of a little possible weakness on the EG chart....I think I should be okay on these.

Not like I have to only pick 2 positions and not still play the immediate money...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #258,705
  • Oct 5, 2010 10:24am Oct 5, 2010 10:24am
Quoting zodiak
Call me crazy..but I entered short 1.5920..
crazy
Thank You
  • #258,706
  • Oct 5, 2010 10:26am Oct 5, 2010 10:26am
Quoting Sunsi
I am shorty myself. at 1.3850 bullflag ABCDE was complete, it was also the 127 fix.ext.
What are your target points?
Initial target approx 1.3620, 1.3166 second...subject to change, and well, we still pretty heavy on the momo here.

This bitch takes off like a rocket from here, you know my ass gunna be covered....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #258,707
  • Oct 5, 2010 10:26am Oct 5, 2010 10:26am
Quoting wormboy
lol yea, i was wondering what on earth i was doing trading this snail fer
I do think she'll be a lot higher before the end of this month. My dx bounce point is around 76. Still a long way to go.
I closed all my GU trades at 1.5918 as it was facing alot of resistance.
  • #258,708
  • Oct 5, 2010 10:28am Oct 5, 2010 10:28am
Quoting zodiak
Call me crazy..but I entered short 1.5920..

So did I, smart move mate.
Dan TheMan
  • #258,709
  • Oct 5, 2010 10:28am Oct 5, 2010 10:28am
Quoting Magix
Lotsa different ways to skin the cat here WD...

I play the swings and the scalps. Not saying everybody should take my lead, not sure how much they could afford to lose...

The retrace on EJ/EU is way over due, and with EJ showing some weakness and the beginning of a little possible weakness on the EG chart....I think I should be okay on these.

Not like I have to only pick 2 positions and not still play the immediate money...
what is your SL and TP

Ub
  • #258,710
  • Oct 5, 2010 10:29am Oct 5, 2010 10:29am
Quoting ammarmemon
I closed all my GU trades at 1.5918 as it was facing alot of resistance.

Nicely done Ammarmemon! :-)
Dan TheMan
  • #258,711
  • Oct 5, 2010 10:29am Oct 5, 2010 10:29am
Quoting Magix
Initial target approx 1.3620, 1.3166 second...subject to change, and well, we still pretty heavy on the momo here.

This bitch takes off like a rocket from here, you know my ass gunna be covered....
I guess you are trading a little longer timeframe ?
I have Tp first at 1.3776 at first, then ill see if i let the rest run.

What do you mean by heavy on the momo ?
  • #258,712
  • Oct 5, 2010 10:29am Oct 5, 2010 10:29am
Quoting wormboy
crazy
...based od double top on hourly and tiny MACD divergence on 6h..we will see..tight stop loss
  • #258,713
  • Oct 5, 2010 10:31am Oct 5, 2010 10:31am
Quoting WanderingDan
So did I, smart move mate.
..wish you best!
  • #258,714
  • Oct 5, 2010 10:32am Oct 5, 2010 10:32am
We've now had a 1 hour close above 1.5900, next up is 4 hour and then shootin for the daily... that should make things interesting
check out my blog: forexmademillionaire dot com
  • #258,715
  • Oct 5, 2010 10:33am Oct 5, 2010 10:33am
Quoting ammarmemon
I closed all my GU trades at 1.5918 as it was facing alot of resistance.
okay, nice trading
I had closed all my id trades as well.
The remaining long trades I have left open are positioned for higher level tests & were bought at much lower prices. Cable is not done yet, we're climbing much higher
Thank You
  • #258,716
  • Oct 5, 2010 10:33am Oct 5, 2010 10:33am
Quoting Beljevina
I agree. 1.385 is a good top. 1.402 is the next possibility, before the fall to 1.345 and 1334. We've gotten here in good deal to the crappy US buck; BUT, reversals are in order on USDX as well - whether they'll stick and for how long is the $64,000 question, but there's a case currently to be made for strength returning to the US$. Not to mention the boatload of euro issues that are just calling for a spotlight. Not to mention, the feeble BoJ is not going to sit by and watch it's just announced measures to get thrown overboard - [i][b]they should...
Well, Bel... that's exactly the opposite of what happened yesterday (and even last night too). When the BoJ intervened they no doubt bough USD, but quickly diversified it into EUR and GBP which pushed the respective pairs higher. Nobody wants to be stuck holding USD right now... why fight the trend?
check out my blog: forexmademillionaire dot com
  • #258,717
  • Oct 5, 2010 10:45am Oct 5, 2010 10:45am
sure is quiet now innit?
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Thank You
  • #258,718
  • Oct 5, 2010 10:50am Oct 5, 2010 10:50am
Quoting WanderingDan
Nicely done Ammarmemon! :-)
Thanx friend.

Wish u luck too
  • #258,719
  • Oct 5, 2010 10:51am Oct 5, 2010 10:51am
Buzzzzzzzzzzzzzzzz WB
  • #258,720
  • Oct 5, 2010 10:53am Oct 5, 2010 10:53am
Quoting wormboy
sure is quiet now innit?
bears are busy praying.
check out my blog: forexmademillionaire dot com
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