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Cable Update (GBPUSD)

  • #276,401
  • Apr 14, 2011 2:43am Apr 14, 2011 2:43am
Quoting wormboy
well I plan to take partial around 6400 level & leave the rest at bep +20 & work its way higher should this trade work out as planned.

Good luck to you mate
  • #276,402
  • Apr 14, 2011 3:16am Apr 14, 2011 3:16am
maybe.
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  • #276,403
  • Apr 14, 2011 3:17am Apr 14, 2011 3:17am
Quoting redbeben
and moved a bit higher the TP at 1.6309 so to be sure 1.6300 as last stop


and now I would close half of my position and go watch a movie..if my broker would only have this option ) 28 pips up....I am not gonna move any SL as it will be a pull back as I reckon
ok done now waiting for more pull back now some 30 pips more or less.

as I mentioned yesterday if we brake the 1.6325 level in 16 hours we go for the 1.6435 but even if it did cross this level in less than 16 hours I'm still not gonna jump in for this one.I don't see on the charts what I wanted to see so....today I am going to the beach instead of trading
  • #276,404
  • Apr 14, 2011 4:27am Apr 14, 2011 4:27am
good week to be a range trader.

Range Trading:

A style of trading that attempts to profit from buying and selling currencies between a lower level of support and an upper level of resistance. The upper level of resistance and the lower level of support defines the range. The range forms a price channel where the price can be seen to oscillate between the two levels of support and resistance.
  • #276,405
  • Apr 14, 2011 5:46am Apr 14, 2011 5:46am
The pound to the eur is like a flea is to an elephant,the flea knows the elephant's moving but has no clue as to why.
  • #276,406
  • Apr 14, 2011 5:55am Apr 14, 2011 5:55am
huge drop today and tommorow into next week
  • #276,407
  • Apr 14, 2011 6:23am Apr 14, 2011 6:23am
Wow! The standards of technical analysis have fallen on this thread.
Gone to a better place
  • #276,408
  • Apr 14, 2011 6:29am Apr 14, 2011 6:29am
hopefully most traders understand price action fail vs close, and the price is failing r1 and fib r2, this may be a tease for long, still in bearish trend.
Trade Like a Robot make money Like a Bank
  • #276,409
  • Apr 14, 2011 6:30am Apr 14, 2011 6:30am
some cocks>ucker hunting stops.
  • #276,410
  • Apr 14, 2011 6:34am Apr 14, 2011 6:34am
look for it drop back down to support 1.6300
Attached Image (click to enlarge)
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Trade Like a Robot make money Like a Bank
  • #276,411
  • Apr 14, 2011 6:42am Apr 14, 2011 6:42am
Quoting smikester
Wow! The standards of technical analysis have fallen on this thread.
Yip we are all very dissapointed.
  • #276,412
  • Apr 14, 2011 6:46am Apr 14, 2011 6:46am
My bias for GBP USD is stil bullish. My reasoning as follows. If you look at GBPUSD on the 15 min, you will notice, it failed to break the 1.625 area 6 times! Making that line a massive support. So the whole move shifted 1,627 area , I am expecting a ranging move around 1,627 - 1,634.

BR
  • #276,413
  • Apr 14, 2011 6:47am Apr 14, 2011 6:47am
Long 1.6308, SL 1.6290
Gone to a better place
  • #276,414
  • Apr 14, 2011 6:52am Apr 14, 2011 6:52am
Quoting MartinMyster
My bias for GBP USD is stil bullish. My reasoning as follows. If you look at GBPUSD on the 15 min, you will notice, it failed to break the 1.625 area 6 times! Making that line a massive support. So the whole move shifted 1,627 area , I am expecting a ranging move around 1,627 - 1,634.

BR
Yes 1.63 is an important level - looks like we might have flipped it.
Gone to a better place
  • #276,415
  • Apr 14, 2011 6:54am Apr 14, 2011 6:54am
Quoting smikester
Yes 1.63 is an important level - looks like we might have flipped it.

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Click to Enlarge Name: chart3.jpg Size: 92 KB
  • #276,416
  • Apr 14, 2011 6:58am Apr 14, 2011 6:58am
Levels nAVIN ! That's more like it..
Gone to a better place
  • #276,417
  • Apr 14, 2011 7:00am Apr 14, 2011 7:00am
Quoting TauTrader
Good day to you all,

So - what's up for today?

Movement. It's official. We will have action. That's a promise. The recent range trading is coming to an end today. Do not get caught. To not attempt to pick tops or bottoms once there is momentum.

The question is - what direction...

Short from 1.6300 again? Short from 1.6320? Or Long from 1.6230 - 1.6240.

Still slightly favour short.... but I could be mistaken. Follow your own set of rules.

Good luck, focus and trade well. I will be out most of the morning and this sucks bigtime - as...



You are really humble sniper, I was very impressed incredible !!!!!
  • #276,418
  • Apr 14, 2011 7:06am Apr 14, 2011 7:06am
Quoting smikester
Wow! The standards of technical analysis have fallen on this thread.
we don't know what where doing
  • #276,419
  • Apr 14, 2011 7:09am Apr 14, 2011 7:09am
Quoting smikester
Long 1.6308, SL 1.6290
TP1 reached...
Gone to a better place
  • #276,420
  • Apr 14, 2011 7:13am Apr 14, 2011 7:13am
long at 1.6318 . . . Let's go!
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