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Cable Update (GBPUSD)

  • #272,461
  • Feb 21, 2011 4:42am Feb 21, 2011 4:42am
another 85.4 fib getting in the way

Attached Image
  • #272,462
  • Feb 21, 2011 5:01am Feb 21, 2011 5:01am
morning

we broke the H4 trendline
now we will have a retrace to aprox 1.6245 to confirm the trendchange

if it stops there then we have the confirmation of a short move.

anyway as long as 1.5750 stays we still have to touch the 1.63 level
  • #272,463
  • Edited 5:22am Feb 21, 2011 5:10am | Edited 5:22am
Long @ 1.6205 tp 1.63
  • #272,464
  • Feb 21, 2011 5:24am Feb 21, 2011 5:24am
Quoting fxprocessor
Missed my TP on first run down by a few pips... Closed at daily pivot on second run down. Market has subsequently dropped but such is life.

See my trade analysis
Looks pretty bearish to me short term. DP has not held as support, so I think there will be another dip lower to test the highs of the 16th and 17th Feb. (Would have preferred to see a close below the pivot though).

That will probably be our first strong support base for building longs, will wait and see anyway.
  • #272,465
  • Feb 21, 2011 5:26am Feb 21, 2011 5:26am
Quoting uksnowman
Looks pretty bearish to me short term. DP has not held as support, so I think there will be another dip lower to test the highs of the 16th and 17th Feb. (Would have preferred to see a close below the pivot though).

That will probably be our first strong support base for building longs, will wait and see anyway.
Potential lack of liquidity will keep me on the sidelines now.
  • #272,466
  • Feb 21, 2011 5:28am Feb 21, 2011 5:28am
Trading range: 1.6205 - 1.6320
Trend: Upward
LONG @ 1.6218 SL 1.6186 TP 1.6306
  • #272,467
  • Feb 21, 2011 5:47am Feb 21, 2011 5:47am
wonder how serious the bulls are?

50 fib in play on m5

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  • #272,468
  • Feb 21, 2011 6:05am Feb 21, 2011 6:05am
http://www.bloomberg.com/news/2011-0...-concerns.html

Open Position 6218 take profit 6229, Stop lost 6195
my worry was Fibo 23.6 is yet to achieve...

try scalp..
  • #272,469
  • Feb 21, 2011 6:06am Feb 21, 2011 6:06am
85.4 fib getting some action again

Attached Image


can the bulls take over or will they wait
for greener pasture?

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  • #272,470
  • Feb 21, 2011 7:14am Feb 21, 2011 7:14am
cable starts to pick up momentum.
i wonder what makes this market moves?

hmm.. break out/??

still uncertain.. i'll be patient not to trade and wait for trend.

read read read..

reading is FUN-damental.
See yourself in Abundance. FILIPINOs = WORLD CLASS. LONG LIVE PHILIPPINES
  • #272,471
  • Feb 21, 2011 7:27am Feb 21, 2011 7:27am
Quoting redbeben
morning

we broke the H4 trendline
now we will have a retrace to aprox 1.6245 to confirm the trendchange

if it stops there then we have the confirmation of a short move.

anyway as long as 1.5750 stays we still have to touch the 1.63 level
let's make it TP 1.6240 as the limit is 1.6243
  • #272,472
  • Feb 21, 2011 7:27am Feb 21, 2011 7:27am
Short @ 6236

TP = ????
  • #272,473
  • Feb 21, 2011 7:58am Feb 21, 2011 7:58am
what are peoples doing in here..,better to have day off..,enjoy vacation, gathering with family or doing your hobby.. so you don't get stress..




.
I will be the number one Manager.
  • #272,474
  • Feb 21, 2011 8:14am Feb 21, 2011 8:14am
Textbook fakeout going on now.

I think they will run it back up to 6235
  • #272,475
  • Feb 21, 2011 8:21am Feb 21, 2011 8:21am
Quoting javapips
what are peoples doing in here..,better to have day off..,enjoy vacation, gathering with family or doing your hobby.. so you don't get stress..




.
LOL agreed ....yeah Guys dont push your self
  • #272,476
  • Edited 8:40am Feb 21, 2011 8:33am | Edited 8:40am
Here is The Computer that runs and controls the "entire Forex system".

It controls All currencies and all pairs, worldwide.

It sits inside a 10' x 10' office in Belgium.
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  • #272,477
  • Feb 21, 2011 8:40am Feb 21, 2011 8:40am
Quoting FerociousHit
Short @ 6236

TP = ????
15+pips
  • #272,478
  • Feb 21, 2011 8:59am Feb 21, 2011 8:59am
Quoting Exciter135
15+pips
Thank you. And I took those 15 pips.

P.S. Suddenly, 6300 does not seem so far away today.
But it must to soak half the day to have a chance.

I'm currently Long @ 6224
  • #272,479
  • Feb 21, 2011 9:17am Feb 21, 2011 9:17am
Quoting FerociousHit
Here is The Computer that runs and controls the "entire Forex system".

It controls All currencies and all pairs, worldwide.

It sits inside a 10' x 10' office in Belgium.
Looks familiar.

So that's where it ended up. I bought it in the 70's.
Used it as a paper weight in the 80's, a door stop
in the 90's and sold it on E-bay in the 2000's.

Dr. D.
  • #272,480
  • Feb 21, 2011 9:36am Feb 21, 2011 9:36am
Quoting fourxtrader
Looks familiar.

So that's where it ended up. I bought it in the 70's.
Used it as a paper weight in the 80's, a door stop
in the 90's and sold it on E-bay in the 2000's.

Dr. D.
That's too bad.

Just think what you could have done!

Now it has fallen into the wrong hands!
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