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Cable Update (GBPUSD)

  • #276,961
  • Apr 20, 2011 3:41am Apr 20, 2011 3:41am
need to wait about 30 min at least to wait for some PA to tell us where we are moving to next.... looks like the BOE is still very much on the fence about raising rates... we may continue to channel for quite some time....
  • #276,962
  • Apr 20, 2011 3:47am Apr 20, 2011 3:47am
i'm newbie.. i'm not pro, but i always do this thing... ::nerd:
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L-H-LH-HH -> B // H-L-HL-LL -> B
  • #276,963
  • Apr 20, 2011 3:47am Apr 20, 2011 3:47am
pffff
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Attached Image
90% of traders use TA, indicators and prediction
  • #276,964
  • Apr 20, 2011 3:49am Apr 20, 2011 3:49am
Quoting redbeben
done overnight

prepare to exit the longs on EU as at 1.448-90 area there will be the drop to 1.4420 area

I'm kind of done for now ,going out for brakefast and be back by london close.if I see anything interesting on my mobile platform I will post it with some rudimentary charts...not that the rest of my charts are complex

prepare the mouse,aim the sell button on EU and in the 1.448-9 area squeeze the trigger.
TP 1.4420 as a first TP....or let's make it 1.4430 as we have the spread

second TP 1.4360 and last TP if we get there is 1.4330
  • #276,965
  • Apr 20, 2011 3:50am Apr 20, 2011 3:50am
Well, that changes the intraday complexion somewhat? Big reaction to those minutes although n/c at 6-0-3. Downmove had already started from that potential resistance discussed earlier...so will there be any buy the dip participants picking this up at a cheaper price? Downside move has breeched the steep 1hr ascending trend line.

Current near-term 1hr screenshot below

G/L

http://i52.tinypic.com/68ugyr.jpg
ex member
  • #276,966
  • Apr 20, 2011 3:52am Apr 20, 2011 3:52am
Quoting _BBKing_
pffff
  • #276,967
  • Apr 20, 2011 3:53am Apr 20, 2011 3:53am
Quoting ProfZarkov
Hmm, just a blip? Back to targetting 1.64?
  • #276,968
  • Apr 20, 2011 3:58am Apr 20, 2011 3:58am
Quoting _BBKing_
pffff
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90% of traders use TA, indicators and prediction
  • #276,969
  • Apr 20, 2011 4:01am Apr 20, 2011 4:01am
Quoting _BBKing_
out +20
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90% of traders use TA, indicators and prediction
  • #276,970
  • Apr 20, 2011 4:03am Apr 20, 2011 4:03am
ok very last TP of EU touched as predicted yesterday

shorts now first TP 1.4420-30 (real one 1.4407)second TP 1.4350 and last 1.433 but I think I will cut the last one
  • #276,971
  • Apr 20, 2011 4:03am Apr 20, 2011 4:03am
Price gives back 50% of the move down from 6381 current daily hi -6310 current daily lo, on the pullback....as the buy the dip participants resume business as usual ? 57% of the 20day average pip range is what price has coverered so far today.

Beautiful again here in London town today re weather - 26 degrees expected...Hyde Park beckons once more.

Hope everyone has a good day's trading.

G/L
ex member
  • #276,972
  • Apr 20, 2011 4:06am Apr 20, 2011 4:06am
Quoting redbeben
ok very last TP of EU touched as predicted yesterday

shorts now first TP 1.4420-30 (real one 1.4407)second TP 1.4350 and last 1.433 but I think I will cut the last one

i think is better wait a bit confirmation. BULL is STILL strong
anyway i agree on targets.
90% of traders use TA, indicators and prediction
  • #276,973
  • Apr 20, 2011 4:11am Apr 20, 2011 4:11am
Quoting _BBKing_

i think is better wait a bit confirmation. BULL is STILL strong
anyway i agree on targets.

too late for me trades opened already

I just hope I am right on this one and I saw the chart right
  • #276,974
  • Apr 20, 2011 4:12am Apr 20, 2011 4:12am
Quoting _BBKing_

i think is better wait a bit confirmation. BULL is STILL strong
anyway i agree on targets.
I know not many guys trade on my time frames but this is all part of a much bigger picture in which the general trend of the GBP is most likely downward over the next quarter at least. that being said I really wouldnt look for shorts until at least the 6429 is tested again... and Ill probably actually wait until the 6569 area is tested before I look for a short...
  • #276,975
  • Apr 20, 2011 4:15am Apr 20, 2011 4:15am
Quoting redbeben
too late for me trades opened already

I just hope I am right on this one and I saw the chart right

ok man
i only mean better wait a bit confirm on fast TF

im ready to short it too
90% of traders use TA, indicators and prediction
  • #276,976
  • Apr 20, 2011 4:15am Apr 20, 2011 4:15am
totally off topic...wulfgar...where did u get that name from? its not from the R.A.Salvatore series is it by any chance?

and if GBP is on down trend for next 2 months, do u think it will hit 1.57 or lower?
  • #276,977
  • Apr 20, 2011 4:22am Apr 20, 2011 4:22am
i think if MPC want their currency keep stable, they have to stop doing meeting..,
I will be the number one Manager.
  • #276,978
  • Apr 20, 2011 4:23am Apr 20, 2011 4:23am
Quoting javapips
i think if MPC want their currency keep stable, they have to stop doing meeting..,
meeting just for meeting's sake.
  • #276,979
  • Apr 20, 2011 4:24am Apr 20, 2011 4:24am
are we going to attack the 6420?
90% of traders use TA, indicators and prediction
  • #276,980
  • Apr 20, 2011 4:25am Apr 20, 2011 4:25am
who's long on Cable right now?
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