Cable Update (GBPUSD) | Page 13802 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #276,021
  • Apr 11, 2011 6:23pm Apr 11, 2011 6:23pm

Jose and Carlos are beggars.
They beg in different areas of town.


Carlos begs for the same amount of time
as Jose, but collects only
about $8.00 or $9.00 a day.


Jose brings home a suitcase full of ten-dollar
bills every day. He drives a Mercedes,
lives in a mortgage-free house, and has
a lot of money to spend.


"Hey, amigo," Carlos says to Jose,
"I work just as long and hard as you do,
so how come you bring home a suitcase
full of ten dollar bills every day?


Jose says,
"Look at your sign, what does it say?"


Carlos reads his sign:
"I have no work, a wife
and six kids to support."


"What's wrong with that?"
Carlos asks him.


"No wonder you only get
$8.00 or $9.00 a day!" says Jose.


Carlos says,
"All right, what is on your sign?"


Jose shows him:

https://mail.google.com/mail/?ui=2&i....1&disp=emb&zw
  • #276,022
  • Apr 11, 2011 6:31pm Apr 11, 2011 6:31pm
Quoting fourxtrader


Jose shows him:

https://mail.google.com/mail/?ui=2&i....1&disp=emb&zw
Attached Image
  • #276,023
  • Apr 11, 2011 7:09pm Apr 11, 2011 7:09pm
price magnet???
Attached Image (click to enlarge)
Click to Enlarge Name: YY.jpg Size: 96 KB
  • #276,024
  • Apr 11, 2011 9:03pm Apr 11, 2011 9:03pm
Quoting Mrleeforex
I believe it will be either sideway or uptrend. I can't see any downtrend for now
  • #276,025
  • Edited 9:42pm Apr 11, 2011 9:41pm | Edited 9:42pm
Good day to you,

Closing shorts.

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: gu10008.gif Size: 31 KB
  • #276,026
  • Apr 11, 2011 9:51pm Apr 11, 2011 9:51pm
why?
  • #276,027
  • Apr 11, 2011 10:05pm Apr 11, 2011 10:05pm
Quoting PoundTrader
There's Two Traders.

Trader A, Tells trader B he's going long at 1.6300 t/p 100 pips, trader B tells trader A he's going short at 1.6300 t/p 400 pips, trader A t/p get hit for 100 pips, trader B is down 100 pips, trader A laughs at trader B, next 2 days trader B t/p get hit for 400 pips, trader B tells Trader A he sees the bigger picture
, ,
  • #276,028
  • Apr 11, 2011 10:07pm Apr 11, 2011 10:07pm
Quoting PoundTrader
why?
Good day to you,

Because my rules tell me to. According to me, we have reached an interim extreme point at 1.6280 area and a pullback is/was likely. It also allows me to bank profits. I am watching to see where I can re- enter short - but time will tell where and this will only happen if all is setting up correctly.

No sinister reason otherwise.

warm regards
  • #276,029
  • Apr 11, 2011 11:25pm Apr 11, 2011 11:25pm
Good day to you,

We may be about to start a period of change from bullish to bearish. So from my point-of-view, a final run up - probably to 1.6360 area. (This is my current re-entry point for short).Price may act in a final sweep action to clear all in it's path - both stopping out current shorts and enticing bias bulls to enter long.

This may take a day or 2.

Be careful with your entries. Opportunities will be there in both directions, but good entry points will be the difference between banking something, or giving back.

Enough of me.

Trade well

regards
  • #276,030
  • Apr 11, 2011 11:53pm Apr 11, 2011 11:53pm
Quoting TauTrader
We may be about to start a period of change from bullish to bearish. So from my point-of-view, a final run up - probably to 1.6360 area. (This is my current re-entry point for short).Price may act in a final sweep action to clear all in it's path - both stopping out current shorts and enticing bias bulls to enter long.

This may take a day or 2.
I tend to agree Tau, although we should have a much better idea once the CPI numbers are released. The 1.642 rejection and resulting 150 pip bee-line down was significant - I think CPI will tell us where the next 200 pips are coming from.

USDX is looking to bounce perhaps, and we need to see if risk-off is the theme for the next few days. BoE raising rates is perhaps a matter of time now that Frankfurt has done so - we might get another trip closer to 1.6/1.59x before a potential sterling run-up.
  • #276,031
  • Apr 11, 2011 11:57pm Apr 11, 2011 11:57pm
So, one day that the pair opens with a downfall, and we are already on a downtrend according to the experts??

Come on... check the last months and see the bull trend solid bull trend. What exactly tell you that we are now in bearish period? One day of red?
The Black Swan: The Impact of the Highly Improbable
  • #276,032
  • Apr 12, 2011 12:26am Apr 12, 2011 12:26am
Quoting MapleLeaf
Come on... check the last months and see the bull trend solid bull trend. What exactly tell you that we are now in bearish period? One day of red?
I don't find GU overwhelmingly bullish over the last months - it's been up and down like a yo-yo IMO; it is searching for fair value during this year, and I consider 1.6-1.64 a fairly tight range, unlike the major progress and uptrend that EURUSD has been in - it's done a more decisive 1000+ pips in that same time.

Whatever one thinks it is currently in - ranging mode or bullish, each of us can regard it to be in the same category down to 1.6ish. In fact I can call it bullish if it still touches down to 1.61. The bearishness can be applicable to the lower timeframes, but not the larger ones. Regardless, 150 pips straight down is a significant move and seems more than a shakeout based on the PA - looks like a no demand situation.
  • #276,033
  • Apr 12, 2011 12:36am Apr 12, 2011 12:36am
Sterling is now a high volume area, losing this level, it is not unthinkable to see it drop ~ 150pips to test 1.61 area.

I posted this chart last night:

http://i51.tinypic.com/351cnlc.png
  • #276,034
  • Apr 12, 2011 12:46am Apr 12, 2011 12:46am
Maybe this is a South Day.
Attached Image (click to enlarge)
Click to Enlarge Name: GBP-0412-H4.GIF Size: 40 KB
Believe what you see instead of what you think!
  • #276,035
  • Apr 12, 2011 12:52am Apr 12, 2011 12:52am
Quoting Beljevina
I don't find GU overwhelmingly bullish over the last months - it's been up and down like a yo-yo IMO; it is searching for fair value during this year, and I consider 1.6-1.64 a fairly tight range, unlike the major progress and uptrend that EURUSD has been in - it's done a more decisive 1000+ pips in that same time.

Whatever one thinks it is currently in - ranging mode or bullish, each of us can regard it to be in the same category down to 1.6ish. In fact I can call it bullish if it still touches down to 1.61. The bearishness can be applicable...
Great explanation.
  • #276,036
  • Apr 12, 2011 12:55am Apr 12, 2011 12:55am
Quoting MapleLeaf
So, one day that the pair opens with a downfall, and we are already on a downtrend according to the experts??

Come on... check the last months and see the bull trend solid bull trend. What exactly tell you that we are now in bearish period? One day of red?
Good day to you,

I stated that we may be in a period of change. Did not say we are bearish exclusively. I have posted my personal opinion based on what I look at, come 1.6360, I intend to sell - if all still in place. I am not comfortable taking the long from the 1.6280 area stated to be a possible pullback point.

Why does this strike you as odd?

All the best
  • #276,037
  • Apr 12, 2011 1:10am Apr 12, 2011 1:10am
Quoting TauTrader
Good day to you,

I stated that we may be in a period of change. Did not say we are bearish exclusively. I have posted my personal opinion based on what I look at, come 1.6360, I intend to sell - if all still in place. I am not comfortable taking the long from the 1.6280 area stated to be a possible pullback point.

Why does this strike you as odd?

All the best
Morning Tau hooozit in die kaap? maybe a few people have bought too high,so nerves are a bit tender.
  • #276,038
  • Apr 12, 2011 1:29am Apr 12, 2011 1:29am
Quoting pepper
Morning Tau hooozit in die kaap? maybe a few people have bought too high,so nerves are a bit tender.
Goeie Dag,

Oh! I see.

All good in the Cape. Just humid.

thank you for asking!

All the best
  • #276,039
  • Apr 12, 2011 1:32am Apr 12, 2011 1:32am
Hi Tau,


Can you put up one of your famous graphs?

BR
  • #276,040
  • Apr 12, 2011 1:43am Apr 12, 2011 1:43am
Am really learning and enjoying the discourse going on here. some are buying while others are selling... I guess thats what makes it forex (buy or sell).
me thinks the bulls are still around the corner and the move down may be targeting the SP's down to 16170 area. only that if it gets there, the bearish pressure may weigh much on GU.
anyways, time will tell. I will be looking to go long when those are filled targeting 165 if my edge presents itself.
I guess its all about trading your edge and surviving.
574 traders viewing now, 1 is registered:
CPUmice