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Cable Update (GBPUSD)

  • #275,641
  • Edited 2:42am Apr 7, 2011 2:39am | Edited 2:42am
uptrend I hope this helps bBakker.Alls well.
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  • #275,642
  • Apr 7, 2011 2:47am Apr 7, 2011 2:47am
Quoting Mrleeforex
What's the direction ? Uptrend or Downtrend?
Trend is very2 hard to determine, 'cause it depends on how you look the chart, trend in time frame 5M is different when you look chart in time frame H4, and so on.
just my nubie opinion
  • #275,643
  • Apr 7, 2011 2:53am Apr 7, 2011 2:53am
Quoting pepper
uptrend I hope this helps bBakker.Alls well.
My comments on your chart. I hope you didn't mind me defacing your charts. I am still debating

Attached Image


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Granted, we have been in an uptrend on h1 since last week, but I see it coming down again! I could be wrong!
  • #275,644
  • Apr 7, 2011 2:55am Apr 7, 2011 2:55am
Quoting GreenPipz
Trend is very2 hard to determine, 'cause it depends on how you look the chart, trend in time frame 5M is different when you look chart in time frame H4, and so on.
just my nubie opinion


Each timeframe has its own trend (up or down) or is in the consolidation phase.
  • #275,645
  • Apr 7, 2011 3:17am Apr 7, 2011 3:17am
Long 1.6326. Trying to scalp some pips.
  • #275,646
  • Apr 7, 2011 3:19am Apr 7, 2011 3:19am
big nut comming out at 7am est
  • #275,647
  • Apr 7, 2011 3:20am Apr 7, 2011 3:20am
Good day to you,

Prepping for a drop? Price hanging around recent high. Price may work it's way higher as we go into news. Double top or slightly higher spiked and reverse to 1.6250-1.6200.

Possible? I must admit that I have a slight short term bearish favour at the current levels. May take the trade....will see when we get to that point.

All the best

Regards
  • #275,648
  • Apr 7, 2011 3:36am Apr 7, 2011 3:36am
Hi All,

I only trade GBP nothing else, and I am a scalper really but I am starting to get a feel for it.

IMHO the BOE rate will not change, after the news announcement we will see drop down to 1,62 , but it will bounce up from there.

My long term bias for GBP is strong bullish.

BR
MartinMyster
  • #275,649
  • Apr 7, 2011 3:38am Apr 7, 2011 3:38am
Dragon G/J 15m chart


Lower TL + pin candle confluence
Attached Image (click to enlarge)
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Make it rain baby
  • #275,650
  • Apr 7, 2011 3:39am Apr 7, 2011 3:39am
i hope so, but we may reach 1.64 before we drop.. thats what i see..

with my opened short positin, i become allready nervous
  • #275,651
  • Apr 7, 2011 3:45am Apr 7, 2011 3:45am
Quoting TauTrader
Good day to you,

Prepping for a drop? Price hanging around recent high. Price may work it's way higher as we go into news. Double top or slightly higher spiked and reverse to 1.6250-1.6200.

Possible? I must admit that I have a slight short term bearish favour at the current levels. May take the trade....will see when we get to that point.

All the best

Regards
There is defenitely positioning taking place. Price slowly ticks up and then BAM - drops by 3 pips in a millisecond. Then slowly working it's way up - then BAM drops by 2 pips.This has been going on for quite a few minutes. Orders fed?

The strong resistance @ 1.6333-1.6335 surely will be smashed instantly during the release - stops triggered - longs enticed...bull or bear....

Interesting it will be.

Regards
  • #275,652
  • Apr 7, 2011 3:54am Apr 7, 2011 3:54am
Yeah, news out in few minutes
Make it rain baby
  • #275,653
  • Apr 7, 2011 4:01am Apr 7, 2011 4:01am
Same old, same old. Nothing to see... move along now. Sterling is going down!
  • #275,654
  • Apr 7, 2011 4:03am Apr 7, 2011 4:03am
Quoting bbakker
Same old, same old. Nothing to see... move along now. Sterling is going down!
was expecting (or hopping ) for a more dramatic drop
  • #275,655
  • Apr 7, 2011 4:04am Apr 7, 2011 4:04am
Quoting redbeben
Morning
I don't think they will change the rates today(pretty sure they won't)and the assets is still gonna be the same

the EU maybe will be hit by the 1.25 rates but I would not bet on that either

so....today is like sunday.just sit and wait
  • #275,656
  • Apr 7, 2011 4:04am Apr 7, 2011 4:04am
Quoting sphinx8
was expecting (or hopping ) for a more dramatic drop
same
  • #275,657
  • Apr 7, 2011 4:06am Apr 7, 2011 4:06am
Me too! I have my TP @ 62680
  • #275,658
  • Apr 7, 2011 4:09am Apr 7, 2011 4:09am
  • #275,659
  • Apr 7, 2011 4:13am Apr 7, 2011 4:13am
Quoting sphinx8
was expecting (or hopping ) for a more dramatic drop
hopping on one leg

English is not your first language, so apologies for the jibe.

Hope -> hoping, hop -> hopping, as in I am hopping mad!

No dramatic drop because every man and his bloody dog knew what the BoE were going to do.

It will come down... It will bounce again around 1.6250-75 and maybe follow through. The ECB rate decision might also help GU.

The MoM released on the 20th will bring a bigger reaction as we will see if more members of the MPC have voted for a rate increase.
  • #275,660
  • Apr 7, 2011 4:15am Apr 7, 2011 4:15am
Bye bye 64
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