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Cable Update (GBPUSD)

  • #275,601
  • Apr 6, 2011 1:28pm Apr 6, 2011 1:28pm
Quoting sphinx8
Hi guys, total newbie here....
what are the most ""probable"movemnts after tomorrows BOE verdict?
I'm heavy short @ .6230 gvot a little surprised for last nights nonsece growth
Just out of curiosity, what made you go short at .6230 yesterday?
  • #275,602
  • Apr 6, 2011 1:38pm Apr 6, 2011 1:38pm
i entred short at 1.626 today. i was thinking its a correction.. it was the perfect entry for long *grrr
shoud i close it or wait until tomorrow for spike or another wonder??
  • #275,603
  • Apr 6, 2011 1:41pm Apr 6, 2011 1:41pm
Quoting Ineedpips9
Just out of curiosity, what made you go short at .6230 yesterday?

well was after all the news, RSI over 73, nice climbing before..... no idea why it went so much more up over nightwith the Asian markets open
  • #275,604
  • Edited 3:12pm Apr 6, 2011 2:15pm | Edited 3:12pm
Quoting Torpedo
i entred short at 1.626 today. i was thinking its a correction.. it was the perfect entry for long *grrr
shoud i close it or wait until tomorrow for spike or another wonder??
If the BoE are going to leave interest rates as they are, which I think they will again, then it should go down back to 1.6, but who am I to say what the market is going to do because anything can happen.

You have 2 options. You put in a SL at a price which seems acceptable for any loses that you will incur if it does hit it. Above the weekly swing high of 1.6460 is not a bad place from a technical point of view. The other is to cut your losses now, re-assess the market and decide when and where is best to re-enter the market.

I was short on GBPAUD since yesterday, cashed in today and reversed the trade, so I am hoping that GBP does not get a bashing tomorrow! I will probably put it near BE if possible before the news announcement!
  • #275,605
  • Apr 6, 2011 2:16pm Apr 6, 2011 2:16pm
Quoting Torpedo
i entred short at 1.626 today. i was thinking its a correction.. it was the perfect entry for long *grrr
shoud i close it or wait until tomorrow for spike or another wonder??
looks like we are on the same run..... would like to know as well.
I'm sure it will be a wild movement tomorrow, the question is which way )
however in my oppinion I would never close at this level, it is a nice avarage number to which it will get sooner or later, if your margins lets you hang in there...... I;m doing the same )) just curious if we will heal tomorrow or will take more hits wainting few weeks till recovery
  • #275,606
  • Apr 6, 2011 2:16pm Apr 6, 2011 2:16pm
Quoting Ineedpips9
Nice little pop up to the daily open.
The same might just be forming on the dragon.
Dragon target hit.
Finally, a dragon trade that didn't bite me in the end!
  • #275,607
  • Apr 6, 2011 2:39pm Apr 6, 2011 2:39pm
Quoting sphinx8
well was after all the news, RSI over 73, nice climbing before..... no idea why it went so much more up over nightwith the Asian markets open
I can't say for certain why it would go up, other than the overall trend on the larger time frames.But I can say that for me I don't see any reason to short anything for more than a 20-pip target max for a while now.
For me, the 200ma is a good tool for finding support/res. levels.Since the pa has been above it for a while on the larger time frames, I look for longs most of the time.If it does dip below the 200ma on the smaller time frames and confirms the small downward movement I go for a 5 to 15-pip scalp. Some say 5-15 pips isn't worth it,I say otherwise.If you get 5 pips a day, thats 25 pips in a week.I was suprised to find out ALOT of traders don't see that in a month!
  • #275,608
  • Apr 6, 2011 2:40pm Apr 6, 2011 2:40pm
Quoting josef
Mac Laptops are great!

Do you think Air will handle Virtual box and couple MT4 well?
I don't know anything about Macs, but I heard that you can run windows nowadays?
  • #275,609
  • Apr 6, 2011 3:08pm Apr 6, 2011 3:08pm
Quoting bbakker
If the BoE are going to leave interest rates as they are, which I think they will again, then it should go down back to 1.6, but who am I to say what the market is going to do because anything can happen.

You have 2 options. You put in a SL at a price which seems acceptable for any loses that you will incur if it does hit it. Above the weekly swing high of 1.6460 is not a bad place from a technical point of view. The other is to cut your losses now, re-assess the market and decide when and where is best to re-enter the market.

I was short on...
hi
i was thinkin about tomorrow... there is boe interest rates and bce interest rates. will be a lot of up n down 4me.
i will try to trade early european @ london open, then will leave pc alone n come back friday
90% of traders use TA, indicators and prediction
  • #275,610
  • Apr 6, 2011 3:11pm Apr 6, 2011 3:11pm
Quoting _BBKing_
hi
i was thinkin about tomorrow... there is boe interest rates and bce interest rates. will be a lot of up n down 4me.
i will try to trade early european @ london open, then will leave pc alone n come back friday
so what's your vote on BOE announcement?
  • #275,611
  • Apr 6, 2011 3:14pm Apr 6, 2011 3:14pm
just an idea from a newbie outsider......
the "sprint"upward today.... is it just people getting ready and buying in expectation of tomorrow's news so they can all cash their shorts tomorrow?

just a simple way of looking at it ..... using guts....
  • #275,612
  • Apr 6, 2011 3:17pm Apr 6, 2011 3:17pm
Quoting Mautje
I don't know anything about Macs, but I heard that you can run windows nowadays?
macs are great for certain things. I've got a 13inch macbook pro and use it only for school.The battery last FOREVER.I also like how it feels so sturdy, with an actual glass-like screen and heavy metal-like case.Badside, it will overheat rather quickly.
I tried parallels, but it wouldn't read my "borrowed" windows 7.I tried my genuine vista and the upgraded windows 7 and it wouldn't work for me.Since it was past 30 days office depot wouldn't give me my money back. I "found" a copy of vmware somewhere and first try it took worked with an old windows xp.The hard part is finding where the folders are for your windows programs,but not too hard.
ubuntu was the easiest to install on both parallels and vmware,but since I had never used linux before I couldn't figure how to install the apple app that allows you to use other os programs.
hope this helps.
  • #275,613
  • Apr 6, 2011 3:47pm Apr 6, 2011 3:47pm
again about fundamentals.....
all the world expect BCE to increase 0,25% interest rates and BOE to leave unchanged

euro went up a lot last weeks on rumoring of increase of damn rates.
are we going to buy rumor n sell the fact?! gosh

both euro and gbp vs usd crossed up main weekly downtrend with this weekly candle.

until we are in "buy dips" mode, what about try a buy near the weekly trendline? (near 6200gbp-4277euro)
while closing below those levels would be another story!
:nerd:
90% of traders use TA, indicators and prediction
  • #275,614
  • Apr 6, 2011 6:41pm Apr 6, 2011 6:41pm
Quoting Ineedpips9
ubuntu was the easiest to install on both parallels and vmware,but since I had never used linux before I couldn't figure how to install the apple app that allows you to use other os programs.
Run Windows Applications on Ubuntu using Wine
Inserted Video


HOW TO: install and configure wine under Ubuntu 10.04 (while listening to some funky music... lol)
Inserted Video


Get Applications for Ubuntu
Inserted Video


Loads of vids on EweTube on how to use and configure Ubuntu!
  • #275,615
  • Apr 6, 2011 6:48pm Apr 6, 2011 6:48pm
Quoting _BBKing_
again about fundamentals.....
all the world expect BCE to increase 0,25% interest rates and BOE to leave unchanged

euro went up a lot last weeks on rumoring of increase of damn rates.
are we going to buy rumor n sell the fact?! gosh

both euro and gbp vs usd crossed up main weekly downtrend with this weekly candle.

until we are in "buy dips" mode, what about try a buy near the weekly trendline? (near 6200gbp-4277euro)
while closing below those levels would be another story!
:nerd:
ECB will raise interest rates while BoE are chicken and will continue to sit on their hands.

Looking at 1.456ish to sell EU and for now I am staying clear of this very undecisive cable.

This one is for Pepper! - Up, down, up, down... where is the fooking trend on this baby -

Attached Image (click to enlarge)
Click to Enlarge Name: What trend.png Size: 73 KB


Sell 1.64 and Buy 1.60 is what I see!
  • #275,616
  • Apr 6, 2011 7:01pm Apr 6, 2011 7:01pm
on my Mt4 Account i see a Big Doji on the Daily forming, but on my other account on Avafx i see another Candle.. a Doji on the daily chart would be very bearish?
  • #275,617
  • Apr 6, 2011 7:11pm Apr 6, 2011 7:11pm
Quoting Torpedo
on my Mt4 Account i see a Big Doji on the Daily forming, but on my other account on Avafx i see another Candle.. a Doji on the daily chart would be very bearish?
Doji is an indecision candle... sign of possible turning point.

If the candlestick has a body, then it is not a doji, but a spinning top. Still an indecision candlestick, but not as 'valued' as a doji. A doji candlestick must have the same opening and closing price!

I see a spinning top on my daily GU chart.
  • #275,618
  • Apr 6, 2011 7:12pm Apr 6, 2011 7:12pm
Quoting Torpedo
on my Mt4 Account i see a Big Doji on the Daily forming, but on my other account on Avafx i see another Candle.. a Doji on the daily chart would be very bearish?
doji can mean either reversal or a tight pullback.
when you are not sure, stay away...
  • #275,619
  • Apr 6, 2011 7:18pm Apr 6, 2011 7:18pm
Quoting anthoniex
doji can mean either reversal or a tight pullback.
when you are not sure, stay away...
Hey Ant! How's it glowing? Anything tickling your fancy right now? I just have a NZDUSD short and GBPCAD long put in the cooker right now... Let's hope Asia plays nice
  • #275,620
  • Apr 6, 2011 8:29pm Apr 6, 2011 8:29pm
i just sold now at 63162 with a stop at 64159 because of the following:
- 85% retracement from in high march (on the 240)
- looks like a triple top on the daily

Quoting bbakker
ECB will raise interest rates while BoE are chicken and will continue to sit on their hands.

Looking at 1.456ish to sell EU and for now I am staying clear of this very undecisive cable.

This one is for Pepper! - Up, down, up, down... where is the fooking trend on this baby -

Attachment

Sell 1.64 and Buy 1.60 is what I see!
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