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Cable Update (GBPUSD)

  • #277,301
  • Apr 25, 2011 12:42am Apr 25, 2011 12:42am
Quoting radit27
im set long at 1.65025..accdentialy click trade...
I think Bull is back in action for NOW so No worries
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  • #277,302
  • Apr 25, 2011 1:29am Apr 25, 2011 1:29am
Well, looking at todays picture it does look likely for GBPUSD to retest the high and take out all the stops above 1.6600 That's the normal course of events as many people have their stops just above this level. So I would say beware! However todays trading is difficult because I believe most banks are closed for the holiday. Much better to wait until tomorrow I think

GBPJPY is going sideways at the moment in a tight range between 135.00 and 136.00 could be a good idea to have pending trade planned for eventual break out from these levels one way or the other!
  • #277,303
  • Apr 25, 2011 1:47am Apr 25, 2011 1:47am
hi there
i am selling now and i went in at 1.6365 at £20 per point. and i now only have 7 k left, what do you think i should do?
  • #277,304
  • Apr 25, 2011 1:50am Apr 25, 2011 1:50am
hello all...
all i would have said is already said here in the forum.

i see gbp in consolidation mode

my levels to watch is 6495 - 6435 - 6390.
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  • #277,305
  • Apr 25, 2011 1:50am Apr 25, 2011 1:50am
Quoting TauTrader
I'm gonna look for a long here... SL @ 1.6460 area

Regards
Good day to you,

Stop @ BE. A visit to 1.6550 and possibly 1.6600 is highly likely over the next day or so. Not sure if from this level, or from a bit lower down.

Will leave it for now -

Regards
  • #277,306
  • Apr 25, 2011 1:59am Apr 25, 2011 1:59am
Quoting redbeben
morning and happy easter for the ones celebrating it

for the rest happy holidays.

bear or no bear yet I still see a top of 1.67 for GU and massive drop of 600 pips first and 300 more afterwards summing a total of 900 pips as first drop.later ....we will see if we can score another 300 pips down.

1.67-1200 pips means 1.55 I have some old trades with that TP.

GJ will drop 900 pips if we brake the 133.3 level .now we are at 135.level ...............................

hello i notice you talkin bout oil
my w1 chart on it say to buy it if reaches that black line best is if near also the red line
Attached Image (click to enlarge)
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  • #277,307
  • Apr 25, 2011 2:06am Apr 25, 2011 2:06am
morning guys

for me is a no go today as here is no PA yet

most of the banks are still sleeping until tmr.

so,for now I will be sleeping in the office
  • #277,308
  • Apr 25, 2011 2:11am Apr 25, 2011 2:11am
Quoting wiz001
hi there
i am selling now and i went in at 1.6365 at £20 per point. and i now only have 7 k left, what do you think i should do?
Good day to you,

Tough one. Your money. You have to decide.

I quick calculation tells me you have 350 pips till wipeout. Trend is still up... But I do see some relief coming. However, I expect another move higher than the current level - possibly to 1.6600 or 1.6650

So either close here and wait, or ride it out for another week or so to see if you can get closer to your entry. It's probably gonna get worse before it gets better.

Do NOT add to this position. Do not hope. The reality is - there is theoretically no ceiling. It's absolutely your call. It's a 50/50.

Regards
  • #277,309
  • Apr 25, 2011 2:17am Apr 25, 2011 2:17am
Quoting _BBKing_
hello i notice you talkin bout oil
my w1 chart on it say to buy it if reaches that black line best is if near also the red line
Hi there

well,i don't trade oil but your chart only confirms some of my suppositions.
if the chart will play as it is it means this is really the beginning of the end of the oil power.

I would not use the car or the bike anymore for such a high price.I refuse to use it even now .at least for me the price nearly doubled in the past 3 years meaning all the goods prices went up but the salaries remained the same or even decreased due to the crisis

useless to say that in some countries the pump price represents the real price + up to 70% taxes and the station's cut

so we either cut the oil use or accept to pay the price for our living or the easiest way is to fight with the oil producer countries and take it all in the name of ''democracy'' and helping the poor oppressed people

I just wonder if the nordic countries will be attacked at one point for the oil
  • #277,310
  • Apr 25, 2011 2:30am Apr 25, 2011 2:30am
old fibochannel holds
at least for a good +30 pips done
Attached Image (click to enlarge)
Click to Enlarge Name: gusdh4.gif Size: 23 KB
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  • #277,311
  • Apr 25, 2011 2:37am Apr 25, 2011 2:37am
Quoting redbeben
Hi there

well,i don't trade oil but your chart only confirms some of my suppositions.
if the chart will play as it is it means this is really the beginning of the end of the oil power.

.....

uhm
on oil i think as follow:
makes wars;
is needed by all the world;
is a good which one day will end, not unlimited;
until we have motorbikes, cars, trucks, ships, airplanes, space shuttles, and all the damn things which only works with oil..... oil price will rise n print new highs.

one day people will wake up n will not buy anymore the shity oil.
until that far day, oil prcie will rise, and stupid people will make wars to get it.

once we won't need oil, we will need water.....
coz people need to fight for something.

talkin about the chart, look how worked out 111.80 resistance in the previous peak... price came fast in 98's. now only got the 106's (...)
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  • #277,312
  • Apr 25, 2011 3:16am Apr 25, 2011 3:16am
Quoting TauTrader
Good day to you,

Sorry for the late reply - was away for a couple of days with the family. It is good that you did not follow the last attempt

I am entering a busy period work wise - so I will not be scalping. I plan on doing 2 to 3 trades per month for the remainder of the year. So will not be analyzing often. I will however post every trade I take on GU here. Other pairs I will post in a new journal for myself I plan to start. There we could discuss some stuff if you feel inclined.

As far as GU is concerned, I have posted my...
I like the sound of that as I too am trying to get into placing longer term trades. I trade with Dominic Nardone over at Trading Knowledge who is simply brilliant in his live trading room but he is mainly an intra day trader and can make 200+ pips weekly, but thing is I would love to ride the GBP/USD all the way up to 173 for 1000 pips! Just for the hell of it!!!

Your thoughts Ladies & Gentlemen?
  • #277,313
  • Edited 8:11am Apr 25, 2011 3:24am | Edited 8:11am
Quote
Good day to you,

Tough one. Your money. You have to decide.

I quick calculation tells me you have 350 pips till wipeout. Trend is still up... But I do see some relief coming. However, I expect another move higher than the current level - possibly to 1.6600 or 1.6650

So either close here and wait, or ride it out for another week or so to see if you can get closer to your entry. It's probably gonna get worse before it gets better.

Do NOT add to this position. Do not hope. The reality is - there is theoretically no ceiling. It's absolutely your call. It's a 50/50.

Regards
Good evening

I think prices will move down until Tuesday night was the peak. Possible tonight I'll find Taucrossfinal on H4 as the conformation of the downtrend. Sorry I just wanted to express opinion based on my observation that prices will continue down this evening if you agree? Without a major catastrophe today's prices will not be reached 1.6600 probably return it for Wednesday and beyond.

Best Regard
  • #277,314
  • Apr 25, 2011 3:27am Apr 25, 2011 3:27am
Quoting Alex Fleming
... I trade with Dominic Nardone over at Trading Knowledge who is simply brilliant...

Your thoughts Ladies & Gentlemen?
My thought is how about you not trying to indirectly sell a pay for trade service, your last 6 post have all been indirect adverts
  • #277,315
  • Apr 25, 2011 3:30am Apr 25, 2011 3:30am
hi again

can't just stay on my bum today when all the world is only talking about the royal wedding

at least here I can find some serenity
so here it goes


if EU will brake 1.4402 level in the next 48 hours starting 2 hours from now on then we will see 1.4310 and second TP 1.4225.

if EU will drop those 400 pips GU will probably follow with 200-300 pips

wait.now I see another thing on GU as well ) I thought there is no clue there but I can see the same thing on H4 but if GU brakes the 1.6380 level in the next 56 hours starting in 2 hours from now on.

if it brakes that level we go down to 1.6285 first and then to 1.6195 as second TP

I wonder if it will play out

my EU shorts are still in place since last week I just might change the TP looooowwweeerr than the initial one (I'm a greeedy bastard)

what do you think guys?

shall we give it a chance to this fall or not ?

just keep an eye on those levels and as soon as a 4H candle closes under the above levels in my opinion it's a sell sign with the TP mentioned

the similarity on those 2 pairs is first TP for both of them is ~ 95 pips and second TP is ~190 pips
  • #277,316
  • Apr 25, 2011 3:39am Apr 25, 2011 3:39am
Quoting redbeben
hi again
...
if EU will brake 1.4402 level in the next 48 hours starting 2 hours from now on then we will see 1.4310 and second TP 1.4225.
...
Interesting thought but what makes you think that it will drop to 1.4402?
  • #277,317
  • Apr 25, 2011 3:43am Apr 25, 2011 3:43am
Quoting Alex Fleming
I like the sound of that as I too am trying to get into placing longer term trades. I trade with Dominic Nardone over at Trading Knowledge who is simply brilliant in his live trading room but he is mainly an intra day trader and can make 200+ pips weekly, but thing is I would love to ride the GBP/USD all the way up to 173 for 1000 pips! Just for the hell of it!!!

Your thoughts Ladies & Gentlemen?
Good day to you,

I have thought long and hard about this - scalping is in my blood, but screentime is a luxury for me at present. Today is a public holiday here - so no problem. I spent a few hours last night re-looking my setups, as I had made one or 2 bad trades in the last couple of days...

I have created 2 different setups - one that will allow me to trade off 15min charts - for 50 to 100 pips a shot - on average offering 3 or 5 high probability trades per pair per month. I could however scalp off this setup too - for 10 to 20 - if time permits. Then I have created a setup to trade off 1hr charts - for 200 to 400 pips a shot - offering on average 1 to 2 setups per month per pair.

Once or twice per annum - I'll get the 500 to 700 pips runner.

My challenge now - is to change my mentality to one of utter patience - but I am willing to do this, as this way of trading will ultimately give me the freedom to live a life. I have just last night set myself a goal. 18 months to become totally free. It's hard, but not difficult. I'm gonna eat this elephant bit by bit.

So - yes. I'll be patient. I'll wait. I'll see the perfect setup coming a day or 2 in advance and i'll be ready. Longer term trading does seem less stressful. Time will tell.

As far as GU goes - i'll be watching 1.6550 to 1.6600 with great interest. That area will tell the story.

All success to you

Regards
  • #277,318
  • Apr 25, 2011 3:47am Apr 25, 2011 3:47am
Quoting id5
My thought is how about you not trying to indirectly sell a pay for trade service, your last 6 post have all been indirect adverts
Good day, id5

Did not even notice. Let's see where this goes then.

Regards
  • #277,319
  • Apr 25, 2011 3:52am Apr 25, 2011 3:52am
Quoting jay696934
Piphead I do agree... Any ideas on my second query. With a spot rate like 1.67 and companies like xe.com giving 1.64 there must be a better solution. I know of better brokers who will give 1.67 at a spot rate of 1.68 on 100k + gbp, but was hoping for a better solution. Has anyone encountered this situation
Hi Jay,
I don't know about a transaction like this as I have only ever traded on a spread betting account
Sorry mate
  • #277,320
  • Apr 25, 2011 3:55am Apr 25, 2011 3:55am
Just wondering, is there any effect during US session cause UK is having Bank holiday ?
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