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Cable Update (GBPUSD)

  • #269,821
  • Jan 25, 2011 1:28am Jan 25, 2011 1:28am
Quoting grashid
when it break, it will drop hard...let c
worrisome...reversal hammer forming on 15m and looks like bouncing off a 200 ema on 30mins.....hmmmm
  • #269,822
  • Jan 25, 2011 1:30am Jan 25, 2011 1:30am
Quoting lechidi
worrisome...reversal hammer forming on 15m and looks like bouncing off a 200 ema on 30mins.....hmmmm
hi Chazz are you there? whats your take? further down or getting a bounce? id range thus far is 70 pips. thot the upcoming news was being priced in and we were going to at least hit 100 pips id for now....
  • #269,823
  • Jan 25, 2011 1:31am Jan 25, 2011 1:31am
Quoting gsantri
It was scalping and closed for 10 pips.
Now bearish div might be in play on M15.
Daily open (blue line) retested as resistance in white shape.
Attached Image
  • #269,824
  • Jan 25, 2011 1:45am Jan 25, 2011 1:45am
Quoting gsantri
Daily open (blue line) retested as resistance in white shape.
wow, good position GS,,
what u still hold this position,,?
only an analysis, and I'm always wrong, don't follow me,
  • #269,825
  • Jan 25, 2011 1:49am Jan 25, 2011 1:49am
just noticed that the huge eur/gbp buying has taken gbp/usd down by few pips.. also the anticipation of UK GDP as well..
  • #269,826
  • Jan 25, 2011 1:56am Jan 25, 2011 1:56am
Quoting lechidi
you commited the cardinal sin. you bought close a proven resistance area.....and then again, looks like the market makers are pricing in the upcoming GU news already
Oh dont worry i wasnt in it!!
Was just not sure what caused it. Probably cos i left the room for a few mins. That always frikken happens
  • #269,827
  • Jan 25, 2011 1:56am Jan 25, 2011 1:56am
Quoting andelumut
wow, good position GS,,
what u still hold this position,,?
Yes, 0.6 vol taken out for 31 pips, SL moved to BE+2.

Will take the remaining into the 'fight of news
  • #269,828
  • Jan 25, 2011 2:03am Jan 25, 2011 2:03am
G/M,

Cable's pullback recovery from yesterday's low 5919, around 61.8% 5865-6017 (friday lo-hi) twice challenged that previous 1hr/4hr swing hi zone created by that fractal swing hi at 6017...1st test rof it epelled by supply to 5964 and 2nd test again meeting supply and price turned lower.

Uk Gdp data etc later (0930am gmt) Any print below the 0.5% expected could well see knee-jerk £ weakness ?

G/L
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ex member
  • #269,829
  • Jan 25, 2011 2:06am Jan 25, 2011 2:06am
Quoting lechidi
hi Chazz are you there? whats your take? further down or getting a bounce? id range thus far is 70 pips. thot the upcoming news was being priced in and we were going to at least hit 100 pips id for now....
Hi lechidi - posted same chart on sunday night - channel in play - perhaps yesterdays NY action was a clearing of weak shorts - thats what I've been thinking...Although I wouldn't be surprised at another go at the channel top and piercing the line , for the same reasons
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  • #269,830
  • Jan 25, 2011 2:17am Jan 25, 2011 2:17am
Quoting chazzle
Hi lechidi - posted same chart on sunday night - channel in play - perhaps yesterdays NY action was a clearing of weak shorts - thats what I've been thinking...Although I wouldn't be surprised at another go at the channel top and piercing the line , for the same reasons
makes sense. thanks....and thats a nice chart Chazz
  • #269,831
  • Jan 25, 2011 2:19am Jan 25, 2011 2:19am
Price makes a downside break of recent 4hr flag, breaks 1hr ascendinbg trend line to that downside-currently around Daily S1 pivot leading down to a previous 1hr/4hr swing lo zone around Monday's Lo.

G/L
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ex member
  • #269,832
  • Jan 25, 2011 2:21am Jan 25, 2011 2:21am
Quoting lechidi
makes sense. thanks....and thats a nice chart Chazz
thanks I'm glad my 4 years at art school wasn't wasted
  • #269,833
  • Jan 25, 2011 2:22am Jan 25, 2011 2:22am
Quoting gsantri
Yes, 0.6 vol taken out for 31 pips, SL moved to BE+2.

Will take the remaining into the 'fight of news
I'm just wondering... when you say '0.6vol', does it imply that you open a few positions at once, or is ur platform able to break your lots into pieces after you opened? however unlikely it sounds.... haha.

I'm holding quite a lot from up there.... as I said, every time it goes around 1.6000, red button becomes sexy
  • #269,834
  • Jan 25, 2011 2:40am Jan 25, 2011 2:40am
Quoting callmegood
I'm just wondering... when you say '0.6vol', does it imply that you open a few positions at once, or is ur platform able to break your lots into pieces after you opened? however unlikely it sounds.... haha.

I'm holding quite a lot from up there.... as I said, every time it goes around 1.6000, red button becomes sexy
when you open a trade with a specific lot size like..say...1 lot. you can select 0.6 when you want to hit ''close'' and it closes that portion of your trade and leaves 0.4 running. cheers
  • #269,835
  • Jan 25, 2011 2:40am Jan 25, 2011 2:40am
...price dips just below yesterday's lo to the 200sma on 1hr....below here the unbreeched fibs of the moves up from thurs and fri lows 5835 and 5865 respectively to that 6017 Hi...as well as the previous 1hr/4hr swing lo zones leading down to those lows (previous support)

G/L
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ex member
  • #269,836
  • Jan 25, 2011 2:43am Jan 25, 2011 2:43am
Trend line broken at London open 15960 and 15880 looks like pretty decent support - GDP will decide which one goes
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  • #269,837
  • Jan 25, 2011 2:50am Jan 25, 2011 2:50am
Quoting callmegood
I'm just wondering... when you say '0.6vol', does it imply that you open a few positions at once, or is ur platform able to break your lots into pieces after you opened? however unlikely it sounds.... haha.

I'm holding quite a lot from up there.... as I said, every time it goes around 1.6000, red button becomes sexy
Hi CMG,

Are u using MT4 platform as well?

I opened only 1 position with say 1 lot vol.
When I wanted to close partially, by right click the trade on Terminal window, firstly I changed the volume to 0.7, 0.6 or any number below the volume it was originally opened. Then hit the 'Close button.

Regards,
  • #269,838
  • Jan 25, 2011 2:53am Jan 25, 2011 2:53am
Quoting chazzle
. . . 15880 looks like pretty decent support - GDP will decide which one goes
Right on spot bro 1.5873 and I'll see if I can enter long again.
  • #269,839
  • Jan 25, 2011 3:03am Jan 25, 2011 3:03am
Is the market pricing in a bad 4th Qtr Gdp due in 25mins or so, or is it just a move down to buy at a discount on the data ?

Time will tell but a reading below the forecast +0.5% could well limit the Boe MPC's scope for an early rate rise, so £ weakness on the knee-jerk could well result ?

G/L
ex member
  • #269,840
  • Jan 25, 2011 3:07am Jan 25, 2011 3:07am
Quoting lechidi
worrisome...reversal hammer forming on 15m and looks like bouncing off a 200 ema on 30mins.....hmmmm
check my last 2-3 post which i posted in EU trade...forget about ur ema/sma etc....watch ur chart in higher tf especially Daily, weekly as well as monthly....n dun forget USDX daily, weekly and monthly...then u may seen something...perhaps

good luck n enjoy ur trade

g
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