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Cable Update (GBPUSD)

  • #269,861
  • Jan 25, 2011 3:38am Jan 25, 2011 3:38am
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Lucky ride for those being short.
Being right is one, taking it from the table is two.
  • #269,862
  • Jan 25, 2011 3:40am Jan 25, 2011 3:40am
hip hip hoorey
  • #269,863
  • Jan 25, 2011 3:40am Jan 25, 2011 3:40am
I got a long at 15815 sl 15775 tp open
  • #269,864
  • Jan 25, 2011 3:41am Jan 25, 2011 3:41am
Wow! Discount buying!! I'm long again 1.5810.
  • #269,865
  • Jan 25, 2011 3:42am Jan 25, 2011 3:42am
Quoting chazzle
GDP - not too good then?
well the gap would seem too much for the weight of that news to me. i have attempted to catch falling knives by booking a long at 5810....lol. 25 pip stop. lets see how it goes. if it goes, then i suspect the drop has begun.
  • #269,866
  • Jan 25, 2011 3:42am Jan 25, 2011 3:42am
Uk slips back into negative growth (contraction) in 4th Qtr prelim GDP @ -0.5% versus +0.5% forecast and +0.7% 3rd Qtr (revised down from +0.8%)

Market sells on the knee-jerk...this severely limits MPC hawks.

G/L
ex member
  • #269,867
  • Edited 3:52am Jan 25, 2011 3:48am | Edited 3:52am
Lets see how price reacts at 5873 and 5936
  • #269,868
  • Jan 25, 2011 3:48am Jan 25, 2011 3:48am
Current Lo : Price drops to Daily S4 pivot / 76.4% 5716-6059

G/L
ex member
  • #269,869
  • Jan 25, 2011 3:50am Jan 25, 2011 3:50am
Kang GS,

don't forget yo ..........


Quoting gsantri
Reversal.
How do you spot that, is it always repeated exactly 1 yr?

Rgds
not euphoria follower
  • #269,870
  • Jan 25, 2011 3:51am Jan 25, 2011 3:51am
Quoting chazzle
I got a long at 15815 sl 15775 tp open
Don't fight it! You will lose!
  • #269,871
  • Jan 25, 2011 3:53am Jan 25, 2011 3:53am
Attached Image (click to enlarge)
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  • #269,872
  • Jan 25, 2011 3:55am Jan 25, 2011 3:55am
Curtesy of forexlive.com. JPM have put out a sell recommendation for cable. Target between 1.4606 and 1.4717.

This is not confirmed yet, just a heads-up.
  • #269,873
  • Jan 25, 2011 3:55am Jan 25, 2011 3:55am
been waiting for this thing to fall..looking for a great buy area..1.55 looks on

very easy to see..candle formation doing there thing here..
Attached Image (click to enlarge)
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  • #269,874
  • Jan 25, 2011 3:56am Jan 25, 2011 3:56am
Wow just wow....
Never Stop Learning...
  • #269,875
  • Jan 25, 2011 3:57am Jan 25, 2011 3:57am
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
All closed for 202 pips
  • #269,876
  • Jan 25, 2011 3:57am Jan 25, 2011 3:57am
Quoting bbakker
Don't fight it! You will lose!
yup
  • #269,877
  • Jan 25, 2011 3:58am Jan 25, 2011 3:58am
Quoting gsantri
All closed for 202 pips
well done mate
  • #269,878
  • Jan 25, 2011 3:59am Jan 25, 2011 3:59am
Of course there will be pullbacks but I wonder whether the significance of the data was lost on some ? The greater probability was for a knee-jerk fall on that data release.

G/L
Attached Image
ex member
  • #269,879
  • Jan 25, 2011 3:59am Jan 25, 2011 3:59am
certainly gives the weekly chart a different complexion
early in the week...

Attached Image
  • #269,880
  • Jan 25, 2011 3:59am Jan 25, 2011 3:59am
how far can this go down i havent seen such a move like this b4
Everything is RISK just learn how to live with
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