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Cable Update (GBPUSD)

  • #278,061
  • May 2, 2011 6:19pm May 2, 2011 6:19pm
Dollar always stronger in Asian session,,
what causes this to happen,,?
Attached Image
only an analysis, and I'm always wrong, don't follow me,
  • #278,062
  • May 2, 2011 7:02pm May 2, 2011 7:02pm
wat make dollar is very strong ??
will GU back to upward ?
or GU will reverse to downtrend?
is it bcoz of Osama Laden news??

i'm still bull..am i in a right way??
  • #278,063
  • May 2, 2011 7:20pm May 2, 2011 7:20pm
Quoting _BBKing_
hello
in my study if that happens open the way for more down
unless it resumes from there on a boost (manufactury PMI ?!) and get again the trendline and the 6670's (something like it did at rates unchanged last month: down 100-120 pips then again up)
impossible to know

already posted my study, 6600-6620 should be strong.
last 6585-90 on extension if get some good stops there.
keeping falling n closing there will automatically close my last small long stops 6540.

today i did not short in 67 area
now im waitin...
Testing 6585-90..
Break or rebound? wait and see
Life is about choosing... Long or Short... Discipline and consistency
  • #278,064
  • May 2, 2011 7:27pm May 2, 2011 7:27pm
I will go short below 1.6580, around 70-80, TP1: 1.6550 ; TP2: 1.6510
Life is about choosing... Long or Short... Discipline and consistency
  • #278,065
  • May 2, 2011 7:44pm May 2, 2011 7:44pm
Quoting andelumut
Dollar always stronger in Asian session,,
what causes this to happen,,?
asian countries buy cheap dollars for their foreign reserves. so it will reverse from london session
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  • #278,066
  • May 2, 2011 7:53pm May 2, 2011 7:53pm
Quoting Mrleeforex
asian countries buy cheap dollars for their foreign reserves. so it will reverse from london session
That's make sense.
1.6585 support is working well.
Life is about choosing... Long or Short... Discipline and consistency
  • #278,067
  • Edited 9:52pm May 2, 2011 9:50pm | Edited 9:52pm
morning
update of chart
a perfect touch.... during asia session here was around 4.30 in the morning.
n alarms did not wake me up.
pfff
touched 6584.
now sincerely too early to say if we get higher again.
rebound is slow and later is manufactury PMI
Attached Image (click to enlarge)
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  • #278,068
  • May 2, 2011 10:10pm May 2, 2011 10:10pm
Quoting KyoOishi
I will go short below 1.6580, around 70-80, TP1: 1.6550 ; TP2: 1.6510
What will probably fall below 1.6585? I think strength to bullish is more dominant for now.
  • #278,069
  • May 2, 2011 10:20pm May 2, 2011 10:20pm
Quoting _BBKing_
morning
update of chart
a perfect touch.... during asia session here was around 4.30 in the morning.
n alarms did not wake me up.
pfff
touched 6584.
now sincerely too early to say if we get higher again.
rebound is slow and later is manufactury PMI
My analysis didn't work well during the royal wedding and yesterday. I couldn't see where this shit will go because of the flatness during those 2 days. If London session and PMI printed out green we expect to see Bullish movement past 6700, I don't know if it can still go higher though.
  • #278,070
  • May 2, 2011 10:57pm May 2, 2011 10:57pm
finally I closed my sell on gu with a 37 pips profit.

now I'm short again TP 1.6570.

and GJ short as well.
I already mentioned the TP as 131 in 2-3 days time and 122 to come in some more 1-2 weeks

cheers,
  • #278,071
  • May 2, 2011 11:31pm May 2, 2011 11:31pm
Quoting HrcTrader
What will probably fall below 1.6585? I think strength to bullish is more dominant for now.
Since GU not touch below 1.6580. I think we will see more clear picture when PMI show up later.

I expect the price go higher today.
Life is about choosing... Long or Short... Discipline and consistency
  • #278,072
  • May 2, 2011 11:45pm May 2, 2011 11:45pm
hello guys
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  • #278,073
  • May 2, 2011 11:47pm May 2, 2011 11:47pm
Quoting OldReigatian
Hi Guys

Been a long time since I've been on here as it descended into a continual slanging match.

In my humble opinion there will be big moves tomorrow during both London and US sessions. We will see at least 300 pips available with a drop down to 1.6620 maybe low to 1.6585 then a big run up to 1.68 area for a weekly climb to 1.70.

Only my opinion.

By the way just in the process of putting some notes together for a system thread I follow (which has proved very profitable) look forward to seeing you on there when it's done.

First target hit.
Just need to sit back and watch now
will wait until .67 passed then place a stop and leave balance to run up to 1.6785 where i'll take all off table
  • #278,074
  • May 2, 2011 11:54pm May 2, 2011 11:54pm
Quoting OldReigatian
First target hit.
Just need to sit back and watch now
will wait until .67 passed then place a stop and leave balance to run up to 1.6785 where i'll take all off table

same levels me here
sincerely im little doubting of 68 area this weeek.
if we not see 68 area before friday, price will get 6500 or lower in 64 area.
6740 -50 big interesting line for the week.
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  • #278,075
  • May 2, 2011 11:58pm May 2, 2011 11:58pm
Quoting redbeben
finally I closed my sell on gu with a 37 pips profit.

now I'm short again TP 1.6570.

and GJ short as well.
I already mentioned the TP as 131 in 2-3 days time and 122 to come in some more 1-2 weeks

cheers,
hello
sorry... why 6570?
you think on the ema/sma200 in h1?
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  • #278,076
  • May 3, 2011 12:10am May 3, 2011 12:10am
Quoting _BBKing_
hello
sorry... why 6570?
you think on the ema/sma200 in h1?
If I tell you I would have to kill you later

it is just the chart telling me that my TP should be at 1.6557 area on H4 but I add the spread and some pips from my side and I pointed 70

better safe than sorry right ?
  • #278,077
  • May 3, 2011 12:13am May 3, 2011 12:13am
retest support level again.. and then PMI show up. bom 1.67 (my scenario)
Life is about choosing... Long or Short... Discipline and consistency
  • #278,078
  • May 3, 2011 12:17am May 3, 2011 12:17am
Long on retest of 6596...

it is an important area in that it held as the weekly channel top since the GU broke above the 6044

it was then tested and rejected significantly and broken through significantly


this retest gives a high probability of a bounce Long
  • #278,079
  • May 3, 2011 12:20am May 3, 2011 12:20am
Quoting redbeben
If I tell you I would have to kill you later

it is just the chart telling me that my TP should be at 1.6557 area on H4 but I add the spread and some pips from my side and I pointed 70

better safe than sorry right ?
uhm ok!
i agree on better safe than sorry!
i closed a scalp in 6595 for 12 pips

now i wait.......
lets see how comes out the manufactury
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  • #278,080
  • May 3, 2011 12:31am May 3, 2011 12:31am
gosh
as usually 50% say down 50% say up

the facts are:
-nobody of us can predict manufactury (i expect bit higher)
-charts are full of mixed data (at least mine)

i stay out, as i see some reactions from 6590-95, but not so much
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