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Cable Update (GBPUSD)

  • #277,581
  • Apr 27, 2011 5:02am Apr 27, 2011 5:02am
Quoting Skywalk3rz
i think it will be bearish now.. until 1.643x or maybe lower.. just wait for uncle ben
hmmm disagree. dont guess we will see 64xx today again.
Hero calls followed by margin calls...
  • #277,582
  • Apr 27, 2011 5:04am Apr 27, 2011 5:04am
Quoting PhAnTi'
lol thats forex ^^

The trends in here is just amazing, love it. just love it...
  • #277,583
  • Apr 27, 2011 5:05am Apr 27, 2011 5:05am
Well, after 3 days of price dropping [from the recent 6599 Hi,] price tested the area around yesterday's Lo and found some demand just before a big upside reaction to the release of the Uk Q1 GDP data etc...

The rise has seen an upside breech and 1hr close above the 1hr descending trend line and a current daily hi in the previous 1hr swing hi zone / Daily R2 pivot where it has encountered some supply.

G/L
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ex member
  • #277,584
  • Apr 27, 2011 5:07am Apr 27, 2011 5:07am
Quoting _BBKing_
morning,
6287? so down you think it will go
  • #277,585
  • Apr 27, 2011 5:10am Apr 27, 2011 5:10am
Quoting PhAnTi'
lol thats forex ^^
heh, i guess so.
  • #277,586
  • Apr 27, 2011 5:13am Apr 27, 2011 5:13am
Quoting PhAnTi'
hmmm disagree. dont guess we will see 64xx today again.

hi

I agree with both of you.I agree with phanti's ''head and shoulders is a shampoo'' and I agree with that 1.643 level...just don't know when.still not even 50% confirmation so far
  • #277,587
  • Apr 27, 2011 5:14am Apr 27, 2011 5:14am
Quoting redbeben
I'm looking for a 1.645 area now.
we might see it today

no confirmation yet but will look for it

on GJ we will go down to 135 level today.

first tp is 50 pips down from 136 and second TP is 135

we'll see if it plays for the second TP


but don't follow .news day anyway
hi.. can u explain GJ please??
  • #277,588
  • Apr 27, 2011 5:22am Apr 27, 2011 5:22am
Quoting redbeben
I'm looking for a 1.645 area now.
we might see it today

no confirmation yet but will look for it

on GJ we will go down to 135 level today.

first tp is 50 pips down from 136 and second TP is 135

we'll see if it plays for the second TP


but don't follow .news day anyway
gj 135.93 in best case, not more..... since we killed 136.00 theres no much space to drop...

BUT atr way overexceeded
Hero calls followed by margin calls...
  • #277,589
  • Apr 27, 2011 5:22am Apr 27, 2011 5:22am
WooooW, Missed a good candle - 111 pips in one candle!

Going to open short position at 1.6695. Don't think that Gu will brake that resistance instantly.

Josef
  • #277,590
  • Apr 27, 2011 5:25am Apr 27, 2011 5:25am
Quoting nsrajesh
hi.. can u explain GJ please??
aaa...not quite frankly.I mean the chart told me there should be a rise to 136.4-41 level.

from this level pullback to 135.77 and later to 135.10 more or less

I mean on H1

on daily still bear and still waiting for it to go to 122

as well market is overbought all the way to H4
  • #277,591
  • Apr 27, 2011 5:29am Apr 27, 2011 5:29am
Quoting josef
WooooW, Missed a good candle - 111 pips in one candle!

Going to open short position at 1.6695. Don't think that Gu will brake that resistance instantly.

Josef
6595 ?
Hero calls followed by margin calls...
  • #277,592
  • Apr 27, 2011 5:30am Apr 27, 2011 5:30am
Quoting josef
WooooW, Missed a good candle - 111 pips in one candle!

Going to open short position at 1.6695. Don't think that Gu will brake that resistance instantly.

Josef

Thats probably going to react as a magnet...
  • #277,593
  • Apr 27, 2011 5:31am Apr 27, 2011 5:31am
Quoting nsrajesh
hi.. can u explain GJ please??
gj is gbp/jpy diferent pair altogether!
  • #277,594
  • Apr 27, 2011 5:32am Apr 27, 2011 5:32am
Quoting Larseg
Thats probably going to react as a magnet...
ill give it one shoot. sell limit 6580 , stop 6585 , target 15-18/20 pips.

R1 6582. if we break daily r1 i wont set any further cable trades today.
Hero calls followed by margin calls...
  • #277,595
  • Apr 27, 2011 5:33am Apr 27, 2011 5:33am
hi again

I'm like a bug here


still no confirmation....yet but it might happen in the next 1-2 hours

GJ a bit clearer now and it might go down to the same level we had this morning ????? 134.5??????

but for GJ more than 1-2 h to confirm at least 50% of it

untill then I just use my device so called ''butt'' to sit on it
  • #277,596
  • Apr 27, 2011 5:34am Apr 27, 2011 5:34am
Quoting josef
WooooW, Missed a good candle - 111 pips in one candle!

Going to open short position at 1.6695. Don't think that Gu will brake that resistance instantly.

Josef

i was long on gu 2 lots at 6449 and closed it at 6519 . dem it but is ok
  • #277,597
  • Apr 27, 2011 5:36am Apr 27, 2011 5:36am
wonder if cable will breach last weeks high?
  • #277,598
  • Apr 27, 2011 5:36am Apr 27, 2011 5:36am
Quoting nsrajesh
hi.. can u explain GJ please??
It's the Currency pair GBP/JPY (British Pound/Japanese Yen)
Got it?
  • #277,599
  • Apr 27, 2011 5:38am Apr 27, 2011 5:38am
Quoting PhAnTi'
ill give it one shoot. sell limit 6580 , stop 6585 , target 15-18/20 pips.

R1 6582. if we break daily r1 i wont set any further cable trades today.
Thats a strange idea for a trade...sorry but it is...the area from current high to that 6599 recent hi is a previous 1hr/4hr/daily fractal swing hi zone ie a previous imbalance of supply/demand...yes daily R2 (not R1) is at 6582 but monthly R2 is at 6590...there could be supply littered all the way to that 6599 hi and your stop would be badly placed...if you are going to short then at least lose because the market didn't react at the potential resistance, not because your stop was badly placed - in the middle of a potential resistance zone not outside of it...all this said it is your money/risk and your decision but a strange stop and a small one at that given the volatility and atr of this pairing !?

G/L
ex member
  • #277,600
  • Apr 27, 2011 5:39am Apr 27, 2011 5:39am
Quoting lyondegreat
It's the Currency pair GBP/JPY (British Pound/Japanese Yen)
Got it?


I so like it the moment after the news when trader pop out like the mushrooms after the rain and either make jokes or curse the damn sharks

before the news you could smell the tension in the air but now things seem to come back to normal
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