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Cable Update (GBPUSD)

  • #269,521
  • Jan 21, 2011 5:44am Jan 21, 2011 5:44am
yesterdays fall's 61.8 fib spot is 1.5942 and we tried that spot 3 times already, in my view under that lvl we must go down with uk bad datas.
  • #269,522
  • Jan 21, 2011 5:45am Jan 21, 2011 5:45am
forgot pic.
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  • #269,523
  • Jan 21, 2011 5:47am Jan 21, 2011 5:47am
Quoting gsantri
- this is a sample of lack patience
- I must in good shape to take a trade (I was a little fever today)

Lesson learned.
30 from yesterday low? don't worry about it - losing part of the game , eh? Did you close yet? I'm -20 on the day but +80 on the week and might call it quits

All the best
  • #269,524
  • Jan 21, 2011 5:50am Jan 21, 2011 5:50am
Quoting chazzle
30 from yesterday low? don't worry about it - losing part of the game , eh? Did you close yet? I'm -20 on the day but +80 on the week and might call it quits

All the best
Call it quits! You had a nice week! Next week is always a new fresh week!
  • #269,525
  • Jan 21, 2011 5:56am Jan 21, 2011 5:56am
Quoting PoundTrader
im back in long at 1.5857, t/p at 1.6114.
im out at 1.5930, done for the week, enjoy your weekend guys
  • #269,526
  • Jan 21, 2011 6:02am Jan 21, 2011 6:02am
Quoting bbakker
Call it quits! You had a nice week! Next week is always a new fresh week!
Wow bbakker - how'd you do that? Your very appearance is the harbinger of volatility

Now -6 on the day +94 on the week

How have you been mate? What have you been trading?
  • #269,527
  • Jan 21, 2011 6:05am Jan 21, 2011 6:05am
damn sl with 6 p,ps grr i bet it will turn down back after eur/gbp sell is over...
  • #269,528
  • Jan 21, 2011 6:11am Jan 21, 2011 6:11am
Quoting letscry
damn sl with 6 p,ps grr i bet it will turn down back after eur/gbp sell is over...
i hope 1.5943 will hold.. otherwise it can go up..i'm ready to short as and when it go up..
  • #269,529
  • Jan 21, 2011 6:12am Jan 21, 2011 6:12am
good day to be scalping 30-50 either way
  • #269,530
  • Jan 21, 2011 6:14am Jan 21, 2011 6:14am
Well, I have to agree with GBPUSD sell in this levels. My order is on 1.5935

GBP last 3 weeks was bought massively. Also USD is on a buy signals for me.

Let us see.

SL at 1.61
  • #269,531
  • Jan 21, 2011 6:24am Jan 21, 2011 6:24am
Quoting 21vs7
Well, I have to agree with GBPUSD sell in this levels. My order is on 1.5935

GBP last 3 weeks was bought massively. Also USD is on a buy signals for me.

Let us see.

SL at 1.61
as of now 1.5943 is holding.. not sure how long as german bank is selling EUR/GBP which in turn impacting GBP/USD
  • #269,532
  • Jan 21, 2011 6:26am Jan 21, 2011 6:26am
Hello guys!

my 1st post, and point of view below.

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  • #269,533
  • Jan 21, 2011 6:30am Jan 21, 2011 6:30am
Hi all,

Can't believe I let my greed missed my projected setup... set my sell limit too high yesterday... LOL

Anyway, I am now looking for a rejection at 1.596x (LTL) to sell.

Good trading all.
  • #269,534
  • Jan 21, 2011 6:31am Jan 21, 2011 6:31am
Quoting letscry
damn sl with 6 p,ps grr i bet it will turn down back after eur/gbp sell is over...
look at it the other way round , letscry ....
E/U and G/U are Majors , they involve the dollar:
app 27% of total fx volume in E/U
app 12% of total fx volume in G/U

E/G is a "cross" - its value is determined by "crossing" E/U and G/U
and it's total fx volume is about 1.7%

It can be a useful tool to look at E/G as an indicator of relative strength of Sterling and Euro against the dollar ( $ is present in about 83% of total FX volume) and the Dollar index can be a useful tool to get a quick look at the strength of the dollar in general
  • #269,535
  • Jan 21, 2011 6:32am Jan 21, 2011 6:32am
Quoting veer2010
as of now 1.5943 is holding.. not sure how long as german bank is selling EUR/GBP which in turn impacting GBP/USD

overall I am bearish GBP today. We saw a lot of GBP selling on the market on UK open and over the day. Im short also GBPAUD on 1.6122.

Last year GBP was the cheapest currency on the market after EUR. We saw a mayor shift on the 3.1. where GBP was bought and was bought also till this week. I see only that this month trend is in a process of consolidation. GBP will be sold to get some locked profit. Then after we shall see.

1.5943 holds nicely as you said it...
  • #269,536
  • Jan 21, 2011 6:34am Jan 21, 2011 6:34am
Quoting chazzle
15960 would be pretty sweet for an entry - if it gets there
there she blows - I'm in ...
  • #269,537
  • Jan 21, 2011 6:35am Jan 21, 2011 6:35am
Quoting chazzle
there she blows - I'm in ...

nice!
  • #269,538
  • Jan 21, 2011 6:43am Jan 21, 2011 6:43am
Quoting 21vs7
nice!
Do you mean up?
  • #269,539
  • Jan 21, 2011 6:46am Jan 21, 2011 6:46am
Thanks Mr.TT, Mr.Chaz and Mr.Callmegood,

Hm I like your name, call me good. lol.

I think I can handle the DD and will hold for a while.
Will take short scalp later to scale out the loss, after this up-move subsided.
Wish me luck

Regards.
  • #269,540
  • Jan 21, 2011 6:48am Jan 21, 2011 6:48am
Quoting chazzle
look at it the other way round , letscry ....
E/U and G/U are Majors , they involve the dollar:
app 27% of total fx volume in E/U
app 12% of total fx volume in G/U

E/G is a "cross" - its value is determined by "crossing" E/U and G/U
and it's total fx volume is about 1.7%

It can be a useful tool to look at E/G as an indicator of relative strength of Sterling and Euro against the dollar ( $ is present in about 83% of total FX volume) and the Dollar index can be a useful tool to get a quick look at the strength of the dollar in general

thank you dude i will keep this in mind.
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