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Cable Update (GBPUSD)

  • #268,941
  • Jan 18, 2011 1:48am Jan 18, 2011 1:48am


1.6060-1.6067 is the closest resistance, if this broke we will see 1.6173-16190
Verily, in every difficulties there is relief
  • #268,942
  • Jan 18, 2011 1:49am Jan 18, 2011 1:49am
Quoting PoundTrader
lets see if this uptrend holds, been holding long since 1.5446
well im out at1.6043, as you can see uptrend is strong
Attached Image (click to enlarge)
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  • #268,943
  • Jan 18, 2011 1:50am Jan 18, 2011 1:50am
Quoting yasi
hi guys
As some of u said before this bulls make me scared i have a sell possession for God sake
but i think it must be have a reversal after all don't u think so?
resistance on daily 16070 - 16110 - I am long 16040
  • #268,944
  • Jan 18, 2011 1:51am Jan 18, 2011 1:51am
...I would be very careful of holding any larger positions short on Cable. There is much speculation of interest rate rises, which, true or not, with the figure just released, will only serve to increase the possibility.

If your account is starting to take a serious knock, I would consider cutting your loses and re-evaluating your view.

Cable can be very unforgiving...
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #268,945
  • Jan 18, 2011 1:51am Jan 18, 2011 1:51am
Quoting 50d
any reversal? the charts will tell by the close of today. But if any will happen, i will expect it to hit 1.57.

i believe - its still bullish . but again i wouldnt hold on my long . so short FTW - maybe after the H1 candle changes .
  • #268,946
  • Jan 18, 2011 1:53am Jan 18, 2011 1:53am
Can't believe I came out of my long at B/E 10 minutes before that move.

Gotta' love Forex!
"I made all my money by selling too soon"
  • #268,947
  • Jan 18, 2011 1:56am Jan 18, 2011 1:56am
Quoting 45Condor
...I would be very careful of holding any larger positions short on Cable. There is much speculation of interest rate rises, which, true or not, with the figure just released, will only serve to increase the possibility.

If your account is starting to take a serious knock, I would consider cutting your loses and re-evaluating your view.

Cable can be very unforgiving...
well did this lost 2000$ at this data was holding shorts...

dunno if i will do anymore orders at gbp/usd ehhehe
  • #268,948
  • Jan 18, 2011 1:56am Jan 18, 2011 1:56am
Quoting 45Condor
...I would be very careful of holding any larger positions short on Cable. There is much speculation of interest rate rises, which, true or not, with the figure just released, will only serve to increase the possibility.

If your account is starting to take a serious knock, I would consider cutting your loses and re-evaluating your view.

Cable can be very unforgiving...
My thoughts would be to hold until the U.S. markets come up, then wait a couple of hours for a solid move as currently no real balance in the markets due to the long weekend in the U.S., just my two cents.
Never been vouched
  • #268,949
  • Jan 18, 2011 1:56am Jan 18, 2011 1:56am
Looking at GBPJPY and GBP/CHF gives us a good clue we could be near a top...
I'm still shorting on the cable.
I think this has the potential for a huge drop...

I post all the 3 pairs together so you can see
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpchf.gif Size: 23 KB
Click to Enlarge Name: gbpusd.png Size: 56 KB
  • #268,950
  • Jan 18, 2011 1:59am Jan 18, 2011 1:59am
Quoting chazzle
Hi lechidi - I've got that cross appearing on the 14th Jan - crosses like that are obviously bullish - I think the one most look at is 50/200 cross on daily - "golden cross" - this happened back in AUG last year - personally speaking , my forecast didn't work out -...
the news really emboldened the bulls and possibly brought in more buyers. but price is at a key level right now if you zoom out your daily chart. if it crosses this level then i think the november high comes into play. if not, then back to 5890 i guess. anywhich way, the 80/200 cross still has me scared of shorting at the mo.

thanks for responding. wish we could be rubbing minds often. i am just learning and really value peoples opinions. of course i dont take everything i hear but i like to hear em. i dont criticize or judge people either.
  • #268,951
  • Jan 18, 2011 2:01am Jan 18, 2011 2:01am
the trend has been confirm for the day, get in where you fit in, good luck to all
Attached Image (click to enlarge)
Click to Enlarge Name: Daily.JPG Size: 101 KB
  • #268,952
  • Jan 18, 2011 2:02am Jan 18, 2011 2:02am
Quoting javapips
i remember that time when i use fibo,trend line many many indi and bla bla bla.... my chart full of line, vertical, horisontal, diagonal etc...really no space even a little, each time my plan didn't work i got stress and clear whatever in my chart, start the new one..,and repeat again...
hi java, what do you trade with nowadays? i thot trendlines were good? kindly hint me. always a learning curve for me. tx
  • #268,953
  • Jan 18, 2011 2:03am Jan 18, 2011 2:03am
Quoting chazzle
resistance on daily 16070 - 16110 - I am long 16040
I'm out - 2 scalps so far today , 20 pips
  • #268,954
  • Jan 18, 2011 2:04am Jan 18, 2011 2:04am
Quoting z3r0
Looking at GBPJPY and GBP/CHF gives us a good clue we could be near a top...
I'm still shorting on the cable.
I think this has the potential for a huge drop...

I post all the 3 pairs together so you can see
I never dismiss longer-term TLs and patterns, but never forget that the market is ever hungry to break the expectations of the masses. I think we know that they know where price is heading far in advance - and I'm talking weeks/months here - and just use news to make it appear as though we are engaged in a fair fight... something which we are not for the most part, save unexpected fundamental developments.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #268,955
  • Jan 18, 2011 2:11am Jan 18, 2011 2:11am
let's bet the price will fall in exactly 10 min
  • #268,956
  • Jan 18, 2011 2:18am Jan 18, 2011 2:18am
Quoting redbeben
let's bet the price will fall in exactly 10 min
nothing goes straight up or down so of course price will drop and rise
  • #268,957
  • Jan 18, 2011 2:23am Jan 18, 2011 2:23am
I'm short this time 16047 - looking for top of H1 channel - currently 16015 ish
Attached Image (click to enlarge)
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  • #268,958
  • Jan 18, 2011 2:26am Jan 18, 2011 2:26am
Likely retrace from this kind of hot intraday high is not uncommon, news at moment all are just over speculation kind of stuff, expecting 1.59995 below is good choice with short open now

And till 1.6080 short zone is pleasing
  • #268,959
  • Jan 18, 2011 2:30am Jan 18, 2011 2:30am
Quoting PoundTrader
nothing goes straight up or down so of course price will drop and rise
obviously

I just checked for the past 3 months the cable and I saw this pattern.

Starting the London session at around 8.20 am (Spain time)the trend changes on the 5 m chart.
At 9.20 the trend changes again untill 10.20 and then again at 11.20.
Al those moves happen on the 5 m chart.

Just look back and see how many times this happened.I guess it is a bank thing going on at those hours

As well we have another move at 13.50 and 16.50 same spanish time.

This downmove will probably last to 1.5962 now
  • #268,960
  • Jan 18, 2011 2:32am Jan 18, 2011 2:32am
Quoting 50d
any reversal? the charts will tell by the close of today. But if any will happen, i will expect it to hit 1.57.
dear Gd
1.57 is more than enough for me so lets be hopeful
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