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Cable Update (GBPUSD)

  • #261,821
  • Oct 26, 2010 3:35am Oct 26, 2010 3:35am
Quoting Delite
Which way did you jump, Chazzle?
Hopefully looooooooooooooooooooooong (Buy Trade for Fendi)!!!!!!!!!
  • #261,822
  • Oct 26, 2010 3:40am Oct 26, 2010 3:40am
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Waiting to sell cable around 1.5960 if my signals say "YES" then.
  • #261,823
  • Oct 26, 2010 3:40am Oct 26, 2010 3:40am
Quoting bbmac
Current intraday Lo @ 5691 occurred at the previous 1hr swing hi zone (= potential rbs) and has now created a previous 1hr/4hr swing lo zone ( = potential support.) Rise to current 5802 Hi around 50% of the 5942-5649 move has met with supply and price is currently challenging a previous 1hr swing hi zone on the pullback.

All important prelimary Q3 Uk GDP # due later this Uk morning with a contraction from Q2's +1.2% to +0.4% expected...if this forecast is the actual # particularly if it is lower we could see some £ selling on the knee-jerk reaction...
Should be breaking trough that huge fib cluster on very good GDP.
Likely to go to around 1.5880 before any retrace in my mind.
I misslciked pretty bad and have a little bit to large position on this one now. Lol.
  • #261,824
  • Oct 26, 2010 3:40am Oct 26, 2010 3:40am
U.K. third-quarter GDP rises 0.8% on quarter

Much better than expected. FTSE trades lower despite good GDP numbers...

Selling 1.5841
________________________________ Errare humanum est
  • #261,825
  • Oct 26, 2010 3:41am Oct 26, 2010 3:41am
Quoting Delite
Which way did you jump, Chazzle?
the other way,lol
  • #261,826
  • Oct 26, 2010 3:41am Oct 26, 2010 3:41am

http://www.forexfactory.com/showpost...&postcount=842

iqyu
not euphoria follower
  • #261,827
  • Oct 26, 2010 3:41am Oct 26, 2010 3:41am
  •  jaboo
  • | Joined Dec 2009 | Status: Ray Comfort is....the banana man | 236 Posts
anyone else wanna get on the short train?
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  • #261,828
  • Oct 26, 2010 3:43am Oct 26, 2010 3:43am
Uk Q3 Gdp prelim doubles expectations of +0.4% @ 0.8%...hence the knee-jerk £ buying on release... Question now, like Q2 will number hold up (or even be increased) on final release ? Are the Qe2 doves back in the box ??

Time will tell.

G/L
ex member
  • #261,829
  • Oct 26, 2010 3:47am Oct 26, 2010 3:47am
Quoting MisterTrader
U.K. third-quarter GDP rises 0.8% on quarter

Much better than expected. FTSE trades lower despite good GDP numbers...

Selling 1.5841
Why are you selling when GBP get a great number? Showing that they are recovering faster then expected, and the Economy are growing?
I am just asking.
I did buy because of this news. 1tp = 1.5875
Likely to close my trade there since I did missclick into a way to large position.
Might close it if we dip under 1.5850 again, bulls are loosing a little bit of steam, we will see. Can`t aford to lose in this position, did take a 2x position bc I was pretty sure of a bullrun if good news, but I did missclick it into 400x levrage! Lol.
  • #261,830
  • Oct 26, 2010 3:53am Oct 26, 2010 3:53am
Quoting jaboo
anyone else wanna get on the short train?
I'll have a look at the time tables for trains south well above 1.59..until then I am holding the longs from 1.5799 .
  • #261,831
  • Oct 26, 2010 3:55am Oct 26, 2010 3:55am
Price now @ 107% of it's 20 day average pip range. Above this previous 1hr/4hr swing hi zone co-existant with 50% 6107-5649/76.4% 5942-5649 is Daily R2 5887 area, Weekly R1 5904, the 61.8% 6107-5649 @ 5930 with another previous 1hr/4hr swing hi zone leading to 5942.

Chellenging that 1st previous 1hr/4hr swing hi zone leading to last wednesday's Hi now.

G/L

http://www.easy-upload.net/fichiers/...1026105411.gif
ex member
  • #261,832
  • Oct 26, 2010 3:58am Oct 26, 2010 3:58am
It nice to see the UK economy GDP Q3 resuts double the forcast at 0.8%.

Should be a good day. Was waiting at 1.5820.
Our beliefs are based on logic and the pursuit of clearity.
  • #261,833
  • Oct 26, 2010 3:58am Oct 26, 2010 3:58am
Just closed for a pretty fast $3.1k, that trade was a little bit to big for me... Ridiculious missclick..
  • #261,834
  • Oct 26, 2010 3:59am Oct 26, 2010 3:59am
Wow-must be some kind of record for this thread !?
http://www.easy-upload.net/fichiers/...1026105832.gif

How much supply in this previous 1hr/4hr swing hi zone ? Pretty bullish atm.

G/L
ex member
  • #261,835
  • Oct 26, 2010 4:03am Oct 26, 2010 4:03am
Quoting pips stunner
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Waiting to sell cable around 1.5960 if my signals say "YES" then.


what is a 5 stunner entry ???!!!
  • #261,836
  • Oct 26, 2010 4:04am Oct 26, 2010 4:04am
Hit my supply zone at 1.5861-1.5877. Nice fast entry into it... I am short... Let's see how this one plays out. Weakness in S&P as it hit supply zone ~1200 yesterday, which means short-term dollar strength. Keep an eye on DIX and ES.

Numbers out of UK are better than expected, but I think we won't break above 1.5877 today, but I could be wrong! Nice Bollinger Band piercing on h1 and h4 too... I ain't buying until we have a clean break of 1.5877.

EDIT: Forget piercing of BB, we have got a clean break of the BB. Overbought signals are ringing alarm bells!
  • #261,837
  • Oct 26, 2010 4:16am Oct 26, 2010 4:16am
Quoting whatfx
what is a 5 stunner entry ???!!!

A Sweeeeeeeeeeet Entry.




GET RICH QUICK OR DONATE TO BROKERS.
  • #261,838
  • Oct 26, 2010 4:20am Oct 26, 2010 4:20am
Quoting bbakker
Hit my supply zone at 1.5861-1.5877. Nice fast entry into it... I am short... Let's see how this one plays out. Weakness in S&P as it hit supply zone ~1200 yesterday, which means short-term dollar strength. Keep an eye on DIX and ES.

Numbers out of UK are better than expected, but I think we won't break above 1.5877 today, but I could be wrong! Nice Bollinger Band piercing on h1 and h4 too... I ain't buying until we have a clean break of 1.5877.
Not shorting until the Stochastics start to turn down or until the RSI is overbought. The 61.8% sits at 1.5930 so will also keep an eye on that level.

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You've got to be IN IT to WIN IT!
  • #261,839
  • Oct 26, 2010 4:20am Oct 26, 2010 4:20am
Quoting MisterTrader
U.K. third-quarter GDP rises 0.8% on quarter

Much better than expected. FTSE trades lower despite good GDP numbers...

Selling 1.5841
CHANC. OSBORNE: Steady UK recovery is underway, growth figures should underpin confidence.

I bet this number is made up for political reasons How to explain the forecast to be missed by double the standard deviation of 33 macro economists ?
________________________________ Errare humanum est
  • #261,840
  • Oct 26, 2010 4:22am Oct 26, 2010 4:22am
out of my short for -70 ... no big drama,just half of profit from last 24hrs
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