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Cable Update (GBPUSD)

  • #263,801
  • Nov 9, 2010 8:31am Nov 9, 2010 8:31am
Quoting darrenware
long 1.6079 - sl 1.6038
If I were long I think I would have my stops below the post fomc Qe 2 lo as on 1hr screenshot above. ?

G/L with your trade.
ex member
  • #263,802
  • Nov 9, 2010 8:33am Nov 9, 2010 8:33am
Quoting lechidi
Nice one bloke. no long thing with u commenting...very welcome anytime. i get ur drift and will find it useful in staying focused. cheers man
meanwhile as soon as price pierced the 200 ema 1Hr, i went over to 1min and entered a short on a second pullback and just banked 30pips at 1.6052.

wow, it worked!!
  • #263,803
  • Nov 9, 2010 8:36am Nov 9, 2010 8:36am
Quoting darrenware
Thank you Cable

Its down into my supply area now
did u mean demand?
what could have accounted for this drop today? thot the earlier reversal was the reversal that would carry us for at least a 150 pip day range and then bang it drops. i still blindly calculated the days range and entered on the 1min (which i rarely ever do) pullback and bagged 30 pips. crazy market most times!
  • #263,804
  • Nov 9, 2010 8:40am Nov 9, 2010 8:40am
hm...1,6030 area looks interesting for long scalp
  • #263,805
  • Nov 9, 2010 8:47am Nov 9, 2010 8:47am
Attached Image (click to enlarge)
Click to Enlarge Name: gc.jpg Size: 69 KB



some of you hardcore cable dudes might like this setup



gbpcad
  • #263,806
  • Nov 9, 2010 8:54am Nov 9, 2010 8:54am
Thanks...you are right

Quoting bbmac
If I were long I think I would have my stops below the post fomc Qe 2 lo as on 1hr screenshot above. ?

G/L with your trade.
Enter Signature
  • #263,807
  • Nov 9, 2010 8:55am Nov 9, 2010 8:55am
Yeah Demand

Quoting lechidi
did u mean demand?
what could have accounted for this drop today? thot the earlier reversal was the reversal that would carry us for at least a 150 pip day range and then bang it drops. i still blindly calculated the days range and entered on the 1min (which i rarely ever do) pullback and bagged 30 pips. crazy market most times!
Enter Signature
  • #263,808
  • Nov 9, 2010 9:00am Nov 9, 2010 9:00am
This what I got in respect of potential support factors below current price:

6049-30 3 x fibs, previous 1hr/4hr swing lo zone, Daily S2
6013-05 1 x fib and previous 1hr/4hr swing lo zone
5994 area Weekly S1 and fib
5981 Daily S3
5975-60 2 x fibs, previous 1hr/4hr/daily swing lo zone
5930 area Monthly pivot
5911-5898 3 x fibs
5885-76 previous 1hr/4hr swing lo zone
5807-5794 4 x fibs and Weekly S2
5779-61 previous 1hr swing lo zone
5753 area Monthly S1
5738-28 previous 1hr/4hr swing lo zone

* fibs are unbreeched fibs of the major daily and 4hr swings up to 6297 from 4225.

Looking pretty bearish at the moment.

G/L
ex member
  • #263,809
  • Nov 9, 2010 9:02am Nov 9, 2010 9:02am
U.K. Pound to Weaken Before Tomorrow's Inflation Report,



http://www.bloomberg.com/news/2010-1...lays-says.html
  • #263,810
  • Nov 9, 2010 9:08am Nov 9, 2010 9:08am
Quoting duderoo
I would say 1,6050.
why is that?
  • #263,811
  • Nov 9, 2010 10:00am Nov 9, 2010 10:00am
Quoting darrenware
long 1.6079 - sl 1.6038
SL hit i guess. crazy mkt...i was suspicious it would find a way to fill in a range of at least 150 pips today. always seems to move like crazy on tuesdays. wonder why....
  • #263,812
  • Nov 9, 2010 10:05am Nov 9, 2010 10:05am
Quoting bbmac
Cable reverses all of it's 6065-6183 gains, breeching the 1hr ascending trend line to the downside. Below current price a 1hr/4hr previous swing lo zone 6049-30 (post fomc low last week) with 3 x unbreeched fibs of moves up to 6297 and daily S2 in there at 6042,...Below here Weekly S1 and a fib at 5994 area. The current intraday lo being tested is also the 23.6% 5296-6297.

G/L
my guess that it will fill a range of at least 150/160 kinda paid off when it reversed and started heading south in a hurry. purely speculation based on it daily range....
  • #263,813
  • Nov 9, 2010 10:18am Nov 9, 2010 10:18am
Quoting wormboy
you're welcome my friend.
Keep an eye on the monthly resistance @6203.
I'm long myself with stop place @1.6040, & targeting previous week's high first.
Will only reevaluate the current trade position if price dips back below the pivot.

Right I'm off, have a good one
Certainly didn't see this one coming
okay, was stopped out of long trade for 124 pips loss. Well done to those who sold earlier
Thank You
  • #263,814
  • Nov 9, 2010 10:31am Nov 9, 2010 10:31am
Right... I got no access to Bloomberg or anything else at the moment... I am relying on little info to trade today.

I'm in a hole in the Middle East.

What the heck is going on with GBP/USD today... I got stopped out 2 times today... in that long rally up and then on the big short downhill.

What that hell happpened ??
  • #263,815
  • Nov 9, 2010 10:39am Nov 9, 2010 10:39am
gold gone scuba
Thank You
  • #263,816
  • Nov 9, 2010 10:48am Nov 9, 2010 10:48am
Quoting lechidi
SL hit i guess. crazy mkt...i was suspicious it would find a way to fill in a range of at least 150 pips today. always seems to move like crazy on tuesdays. wonder why....

Yeah got it on way down from 1.6148 but got GREEDY and went long and my entry was terrible
Enter Signature
  • #263,817
  • Nov 9, 2010 10:48am Nov 9, 2010 10:48am
i guess i close my short to early then..........it drops like a rock to the bottom....definitely i'll be looking for any long setups for tomorrow....but still let the price balance up a little bit...gud luck all...
  • #263,818
  • Nov 9, 2010 10:50am Nov 9, 2010 10:50am
Quoting darrenware
Yeah got it on way down from 1.6148 but got GREEDY and went long and my entry was terrible
used to be like that....always try to pick bottom.... but could't stand buying the soap every now and then...to wash my fingers....
  • #263,819
  • Nov 9, 2010 10:56am Nov 9, 2010 10:56am
just loved your post man.
All systems of divination, like music itself,work through patterns.
  • #263,820
  • Nov 9, 2010 11:00am Nov 9, 2010 11:00am
Quoting wormboy
gold gone scuba
http://www.forexlive.com/144782/all/...onetary-system
Thank You
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