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Cable Update (GBPUSD)

  • #276,821
  • Edited 3:38am Apr 19, 2011 3:33am | Edited 3:38am
Tomorrow is the MPC meeting.
Gone to a better place
  • #276,822
  • Apr 19, 2011 3:36am Apr 19, 2011 3:36am
Quoting smikester
Morning red. Glad someone sees some action today.
morning there

it all depends on the next hours and how 1.627 level behaves in the next 8-12 hours.

if it brakes sooner than that it's a no go for me
if it brakes later....I allow it a max of 4 hours more.if it does not brake by that time it's a no go again.


the general view is the one described in the other post.

I guess I will apply what some wise men here always said ''trade what you see''
  • #276,823
  • Apr 19, 2011 4:20am Apr 19, 2011 4:20am
This is where I go long. Aware we might retest 1.6270.
Gone to a better place
  • #276,824
  • Apr 19, 2011 4:20am Apr 19, 2011 4:20am
Quoting redbeben
morning there

it all depends on the next hours and how 1.627 level behaves in the next 8-12 hours.

if it brakes sooner than that it's a no go for me
if it brakes later....I allow it a max of 4 hours more.if it does not brake by that time it's a no go again.


the general view is the one described in the other post.

I guess I will apply what some wise men here always said ''trade what you see''

so you can go home now
what is the sensible level to go short ? 1.63?
  • #276,825
  • Apr 19, 2011 4:30am Apr 19, 2011 4:30am
currencies ranging....
commodities up

gold above 1500 today?
90% of traders use TA, indicators and prediction
  • #276,826
  • Apr 19, 2011 4:35am Apr 19, 2011 4:35am
Quoting sphinx8
so you can go home now
what is the sensible level to go short ? 1.63?
not quite
1.6280 level touched another long closed now waiting for 1.631 to be touched.

as short If I tell you a good short is 1.67-1.675 with a TP of 1.55 would you belive it? this is what I will do at that price.in between only short scalps on the south moves I'm afraid
for ex if we go to 1.6338 we go down soon after for 36 pips as first target.
  • #276,827
  • Apr 19, 2011 4:36am Apr 19, 2011 4:36am
So who is gonna short at 1.6300, take that risk?
Trade Like a Robot make money Like a Bank
  • #276,828
  • Apr 19, 2011 4:39am Apr 19, 2011 4:39am
Quoting raz
So who is gonna short at 1.6300, take that risk?
if she breaks 1.6300 most likely so goes to 1.6400
  • #276,829
  • Apr 19, 2011 4:42am Apr 19, 2011 4:42am
I mean now we went up but as I said it is too early for me to jump on another long in a few hours yes I will have the confirmation.

even if we might hit 1.633 pretty soon.I expect a 100 pips move north from 1.6235 level.

let's see if it plays out
  • #276,830
  • Apr 19, 2011 4:45am Apr 19, 2011 4:45am
Quoting seekerz
i buy @ 1.6255..
I'm out for +35 pips..
increase my account to 50%..
enough for today.. Cao..
L-H-LH-HH -> B // H-L-HL-LL -> B
  • #276,831
  • Apr 19, 2011 4:51am Apr 19, 2011 4:51am
Quoting redbeben
not quite
1.6280 level touched another long closed now waiting for 1.631 to be touched.

as short If I tell you a good short is 1.67-1.675 with a TP of 1.55 would you belive it? this is what I will do at that price.in between only short scalps on the south moves I'm afraid
for ex if we go to 1.6338 we go down soon after for 36 pips as first target.
1.631 touched and now a pullback to 1.628X
then 1.633X
  • #276,832
  • Apr 19, 2011 4:53am Apr 19, 2011 4:53am
Good day to you,

Entering an area of possible pullback. 1.6312- 1.6320. Will look for a short scalp here.

Regards
  • #276,833
  • Apr 19, 2011 4:55am Apr 19, 2011 4:55am
Quoting PoundTrader
if she breaks 1.6300 most likely so goes to 1.6400
bear trap
  • #276,834
  • Apr 19, 2011 4:58am Apr 19, 2011 4:58am
Quoting redbeben
1.631 touched and now a pullback to 1.628X
then 1.633X

Mornin' Red and all.

Waiting for a pullback to 1.6284 and a low vol test of that level to confirm a good/low risk beauty back up too that 1.6328ish level
  • #276,835
  • Apr 19, 2011 4:59am Apr 19, 2011 4:59am
Quoting seekerz
I'm out for +35 pips..
increase my account to 50%..
enough for today.. Cao..
With only +35 Pips you made 50% of your Account? lol..really unprofessional! Imagine, if you hade two negative trades of 35 pips, you would lost 100% of your Account..
  • #276,836
  • Apr 19, 2011 4:59am Apr 19, 2011 4:59am
and this is why this move was a no go for me as I wait the price to punch through the circled area...meaning some hours later.I guess that by the time london closes we will have it

the second circle is my target if we brake....and as I said the 100 pips from 1.6235 still not achieved.

let's see later
Attached Image (click to enlarge)
Click to Enlarge Name: brake GU.JPG Size: 166 KB
  • #276,837
  • Apr 19, 2011 5:03am Apr 19, 2011 5:03am
Quoting TauTrader
Good day to you,

Entering an area of possible pullback. 1.6312- 1.6320. Will look for a short scalp here.

Regards

Hey mate.. It is not called a pullback then.. Its is called retracement. Pullback is when the pair goes up again..

greets..
  • #276,838
  • Apr 19, 2011 5:04am Apr 19, 2011 5:04am
Today cable going up till now. It was a bit suprirece for me, I was about to play it down. But after I saw way. It was correction abcd, whre ab = cd, ehhh I love this set up, but havent see it when I should. It was on 5 minutes chart. Now well, I will wait to play down, looking on 1h it looks for me down.
  • #276,839
  • Apr 19, 2011 5:21am Apr 19, 2011 5:21am
Quoting PoundTrader
bear trap
my SHORT got stopped by that sudden move. Now I'm taking SHORT scalp 6291 to determine the direction. If it becomes crazier, I better rest today.
  • #276,840
  • Apr 19, 2011 5:42am Apr 19, 2011 5:42am
Hello all, just popping in to say hello.

Strong recovery off yesterday's 6165 lo (76.4% 6090-6427) sees a further leg up this morning after the pullback from yesterday's 6271 pullback Hi , breeching the first decsnding trend line on 1hr. This followed the drop from yesterday's 6327 Hi (weekly pivot and now 61.8% of total recent 6427-6165 move down) to yesterday's lo 6165 where the demand came in.

The near-term current 1hr screenshot shows the 'main' potential upside/downside obstacles to price as today's current Hi entered that previous 1hr sxwing hi (big spike rejection on 1hr) but pullback has met some demand at the 23.6% of the current daily lo-hi (6230-6315)...so far ? May feel like more but price has only coverered 69% of the 20day average pip range so far today.

Great weather here in London town, Hyde Park beckons..

G/L

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