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Cable Update (GBPUSD)

  • #261,241
  • Oct 20, 2010 8:55am Oct 20, 2010 8:55am
Quoting bbmac
Price has now breeched to the upside the 50% of yesterday's 5942 Hi - the overnight 5649 Lo move.

G/L
I have fib and trendline at 1.5802.
Might hold. What do you think?
  • #261,242
  • Oct 20, 2010 8:56am Oct 20, 2010 8:56am
Quoting fahdli
...possible long, tp1 ~ 1.58 citing the tech's above + imbalanced factoring in of the fundies for the day (Chineses int. rate hike yes, DOW decline no)
*all speculation, not trade advice
This one's booked @ Tp1 (1.58)
closed all positions, been a rather tough trade
would rather go for some RnR at this point

g/l all
  • #261,243
  • Oct 20, 2010 8:58am Oct 20, 2010 8:58am
Quoting Sunsi
I have fib and trendline at 1.5802.
Might hold. What do you think?
as long as it stays above your 1.5750/55 range upper identified earlier, i think more upside

how far? possibly to 1.59 or more? i dont generally see that far
  • #261,244
  • Oct 20, 2010 9:05am Oct 20, 2010 9:05am
Its been doing 618 retracements all day long.
  • #261,245
  • Oct 20, 2010 9:07am Oct 20, 2010 9:07am
Long @1.5788
TP@ 1.5831 (618 retracement)
SL @ Just below DP
Enter Signature
  • #261,246
  • Oct 20, 2010 9:08am Oct 20, 2010 9:08am
this is really great, now i know i see good. next t.p 1.5869. Guess i av good trailing.
  • #261,247
  • Oct 20, 2010 9:15am Oct 20, 2010 9:15am
Quoting Sunsi
I have fib and trendline at 1.5802.
Might hold. What do you think?

Its holding at the moment but cable is getting slightly more pressure going north....time will tell


Edit: Fib is at 1.5797 on my charts
Enter Signature
  • #261,248
  • Oct 20, 2010 9:15am Oct 20, 2010 9:15am
Quoting Sunsi
I have fib and trendline at 1.5802.
Might hold. What do you think?

I have no such meaningful fib or trend line @ 5802...as for whether it will hold, none of us know whether potential supp/res factors will break or bounce-all we can do is play our edge at them if it sets-up, and this may include an edge that suggests break or bounce is the greater probability.

G/L
ex member
  • #261,249
  • Oct 20, 2010 9:17am Oct 20, 2010 9:17am
Quoting Sunsi
I have fib and trendline at 1.5802.
Might hold. What do you think?
Expected retrace USDX (77.50) almost done so imo looks good level to short if it holds
Don't be a hero. Don't have an ego. Always question yourself
  • #261,250
  • Oct 20, 2010 9:18am Oct 20, 2010 9:18am
Quoting bbmac
I have no such meaningful fib or trend line @ 5802...as for whether it will hold, none of us know whether potential supp/res factors will break or bounce-all we can do is play our edge at them if it sets-up, and this may include an edge that suggests break or bounce is the greater probability.

G/L

Hey BBMAC ive drawn my fib from the high of yesterday to the low of today....have i done this wrong??
Enter Signature
  • #261,251
  • Oct 20, 2010 9:27am Oct 20, 2010 9:27am
Quoting darrenware
Hey BBMAC ive drawn my fib from the high of yesterday to the low of today....have i done this wrong??

I have the same fib drawn from yesterday's 5942 hi to today's current 5649 lo....and the 50% is @ 5797 ..price made a 5810 hi in the previous 1hr/minor 4hr swing lo zone (potential rbs) shown on 1hr chart below..(sorry I ahd missed it on chart a few posts becak-didn't see it when updating the potential supp/res factors there.)

Fibs are somwhat subjective as to where youi plot them from.,...so no right or wrong, but for me a fib plotted on a 1hr swing either bounces within a few pips or it doesn't, for me this didn't so I took it off (put back on for illustration purposes on screenshot below.)

G/L

http://www.easy-upload.net/fichiers/...1020162720.gif
ex member
  • #261,252
  • Oct 20, 2010 9:31am Oct 20, 2010 9:31am
another look at Todays PA compared to that of 9-10 AUG...pretty close downswing was quicker but within just a couple of pips,upswing was slower and got to 75% of the move so far - just 1 hour time difference too
Attached Image (click to enlarge)
Click to Enlarge Name: looky.PNG Size: 35 KB
  • #261,253
  • Oct 20, 2010 9:33am Oct 20, 2010 9:33am
Thanks thats great bbmac, thanks for the reply...I had 1.5797 too
Enter Signature
  • #261,254
  • Oct 20, 2010 9:34am Oct 20, 2010 9:34am
Quoting chazzle
another look at Todays PA compared to that of 9-10 AUG...pretty close downswing was quicker but within just a couple of pips,upswing was slower and got to 75% of the move so far - just 1 hour time difference too
so then I'm pending short 15830 , 15850
  • #261,255
  • Oct 20, 2010 9:38am Oct 20, 2010 9:38am
Trying short @ 1.5820
SL 1.5835
Don't be a hero. Don't have an ego. Always question yourself
  • #261,256
  • Oct 20, 2010 9:39am Oct 20, 2010 9:39am
just need it to get through wednesday's support to get to my TP
Enter Signature
  • #261,257
  • Oct 20, 2010 9:39am Oct 20, 2010 9:39am
Man I hate that my work is blocking my live acct. Anyways, it doesn't mean anything because its my demo account (which for some reason isn't blocked at work... beat me as to why), but I just scored 72 pips on that move from 1.5743 to 1.5815.

Where should I go spend my imaginary money at today?
  • #261,258
  • Oct 20, 2010 9:41am Oct 20, 2010 9:41am
Quoting USD-Bear
Trying short @ 1.5820
SL 1.5835

Let it get to my 1.5831 TP USD-Bear please then your welcome to your short
Enter Signature
  • #261,259
  • Oct 20, 2010 9:43am Oct 20, 2010 9:43am
Quoting darrenware
Let it get to my 1.5831 TP USD-Bear please then your welcome to your short
ok, but not a pip more
Don't be a hero. Don't have an ego. Always question yourself
  • #261,260
  • Oct 20, 2010 9:48am Oct 20, 2010 9:48am
Wow, should have stayed in... I could have made some more fake money. Oh well, I was counting on 61.8 being the end of the run. Guess not.
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