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Cable Update (GBPUSD)

  • #278,081
  • May 3, 2011 2:31am May 3, 2011 2:31am
Quoting _BBKing_
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
It's been ranging since 28 April. It would be good if we can see some serious movements today . Now I know why you really hate ranging markets...
  • #278,082
  • May 3, 2011 2:36am May 3, 2011 2:36am
Quoting _BBKing_
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
me got all 70 pips from up there out now and use the device for the next of the day...you know what device...the one called butt
  • #278,083
  • May 3, 2011 2:38am May 3, 2011 2:38am
First serious test of support levels today. I probably won't trade this pair until after the news.
Gone to a better place
  • #278,084
  • May 3, 2011 2:39am May 3, 2011 2:39am
hi again

we might see the 600 pips drop in the next 5-6 trading days as max.if not....I'll have a look again at the charts and use my jar of pesetas to drop the market
  • #278,085
  • May 3, 2011 2:42am May 3, 2011 2:42am
Quoting _BBKing_
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
Looking For Long 6525 into 6840
  • #278,086
  • May 3, 2011 2:46am May 3, 2011 2:46am
I'm gonna buy @ 1.6557 TP 1.6577 and TP 2 1.66
  • #278,087
  • May 3, 2011 3:08am May 3, 2011 3:08am
I'm gonna buy anyway as I expect a retrace but during the news we might see this

if 59 or above we go up if we are 60-61 we have a spike like hell up
if 55 or below we go down ,same 4 points rule apply on the spike

my advice stay aside for now 'till the news finish
  • #278,088
  • Edited 3:47am May 3, 2011 3:21am | Edited 3:47am
H4 has broken the previous support around 1.66190. The next support is around 1.64381. The temporary support is at the blue area on the 2nd chart. Will it be broken or will it hold? The close of the current H4 candle will confirm this. Until 1.64381 is broken the uptrend is still in place.

With H4 candle you only need to check your chart only every 4 hours, everything in between are mere distractions.


Enjoy your trading!
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  • #278,089
  • May 3, 2011 3:30am May 3, 2011 3:30am
...this is getting bloody, im going for a walk.
Here to learn, not teach.
  • #278,090
  • May 3, 2011 3:36am May 3, 2011 3:36am
Quoting KyoOishi
I will go short below 1.6580, around 70-80, TP1: 1.6550 ; TP2: 1.6510
What a day.. Big move before the news come out..
So lucky I am.
Life is about choosing... Long or Short... Discipline and consistency
  • #278,091
  • May 3, 2011 3:38am May 3, 2011 3:38am
=))
L-H-LH-HH -> B // H-L-HL-LL -> B
  • #278,092
  • May 3, 2011 3:44am May 3, 2011 3:44am


gaining momentum
Trade responsiblypatience is the key/Swing trader
  • #278,093
  • May 3, 2011 3:44am May 3, 2011 3:44am
i sometimes think this is fixed, it has happend to me a few times, i have just closed a trade £200 in profit on the gbp usd on a sell and as soon as i closed it it dropped 50 pts????????
  • #278,094
  • May 3, 2011 3:53am May 3, 2011 3:53am
i bet there are alot of unhappy traders today. me being one of them and for greedy reasons. to risky today
  • #278,095
  • May 3, 2011 3:55am May 3, 2011 3:55am
now question is will it drop further today?
Trade responsiblypatience is the key/Swing trader
  • #278,096
  • May 3, 2011 3:57am May 3, 2011 3:57am
who no's ,? i may jump on somthing els now and try and get another £200 for today
  • #278,097
  • May 3, 2011 4:02am May 3, 2011 4:02am
who things going long on gbp and eur is a good idea?
  • #278,098
  • Edited 4:09am May 3, 2011 4:08am | Edited 4:09am
I went long at 1.6480, bounced around a little, got scared and jumped out 7 pips up.
  • #278,099
  • May 3, 2011 4:10am May 3, 2011 4:10am
Well this similar thing happened last month with the PMI but it couldnt break the 6044 level and USD weakness regined in all the GU's losses


not saying that will happen this time but it is a possibility. I will hold my long from 6600 (im a position player guys so please dont do anything i do).. unless we drop and close back inside the 6044-6426 channel
  • #278,100
  • May 3, 2011 4:15am May 3, 2011 4:15am
The dollars awful,
The pounds awful,
The pounds less awful,
Buy the pound.
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