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Cable Update (GBPUSD)

  • #278,481
  • May 5, 2011 7:49pm May 5, 2011 7:49pm
Quoting _BBKing_
hello,
gosh im very sorry you lost those pips, i hope was few money x pip
when i get a loss, usually the follow trades i go with half or 30% amount, until i recover the wave....
tomorrow i won't trade too, but will check charts after asia moves.
have a good week end, bybye
It's not much but having 10 consecutive losses for 3 consecutive days could make you really ask whether your trading style really fits in or not (and I did just fine last month). Now I know that I probably not the only one suffering this week, so I'm back to working with my style to make it more adaptive.
  • #278,482
  • May 5, 2011 7:54pm May 5, 2011 7:54pm
Quoting sphinx8
so what, any pos open or entries keyed in? I'm still itching to go long....
coz I think the US employment data will be crap since all the other employment related data this week were also crap............
I think GU will continue bearish until US session for this closing weekend
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  • #278,483
  • May 5, 2011 8:04pm May 5, 2011 8:04pm
Quoting TauTrader
Good day to you,

1st long went in @ 1.6421. only 1/3 position. Next add on 1.6370

Regards
Good day to you,

Forgot to update. Initial entry @ 1.6421 was closed for +3 and adjusted down with a new entry @ 1.6408. Second entry went in long @ 1.6375. Average entry price now 1.63915

Regards
  • #278,484
  • May 5, 2011 9:27pm May 5, 2011 9:27pm
http://www.marketvisiontv.com/feeds/...large/5690.png

What do you think about this Elliott Wave count ? Why after wave 5 end they start new impulsive wave 1-2-3-4-5 without the abc correction ?
Also do you notice head and shoulder pattern on 4H .
fxcm blogspot com
  • #278,485
  • May 6, 2011 12:53am May 6, 2011 12:53am
Hi all. I've just bought at 1.64 hoping for 30 pts
  • #278,486
  • May 6, 2011 1:01am May 6, 2011 1:01am
I confused.. When NFP release, US will stronger or weaken??

what do you think??
  • #278,487
  • May 6, 2011 1:03am May 6, 2011 1:03am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Nice chart, which broker are you with?

It's all about fundamental dynamics mate. Dollar index broke it's lowest level since the banking crisis on friday, S&P issued a warning to US last week too, commodities were at all times high. Something had to be done about that. Yesterdays buy in the dollar came due to exchanges raising margin requirments for commodities. For Silver and oil. Hence small traders jumping out of ship and everyone selling oil. Also fear of the same for other commodities. Hence dollar buying by selling and others just joined the battle.

Today we have nfp, anyone who was short must be taking some profit. But dynamics states that end of "free money" era .i.e. no QE2 will make sure markets are normal and react to news so positive new or negative dollar will be bought. However, it's also a fact that GBP is prefered to traders provided BOE raise rates then euro if it comes to safety. Hence the reason fall is not drastic.

Technically, pound can only win the battle if it doesn't go and close below 63500 today.



Quoting trustbank
http://www.marketvisiontv.com/feeds/...large/5690.png

What do you think about this Elliott Wave count ? Why after wave 5 end they start new impulsive wave 1-2-3-4-5 without the abc correction ?
Also do you notice head and shoulder pattern on 4H .
  • #278,488
  • May 6, 2011 2:07am May 6, 2011 2:07am
morning guys,
ahh so Ninjas very invisible mode over night

anybody loading guns for today or just waiting to strike later along the news up or down?
  • #278,489
  • May 6, 2011 2:10am May 6, 2011 2:10am
good morning/evening
i added on daily chart some strong levels by monthly and weekly charts
near 6340 white dotted line already tested in the past.
6340 also sma200 in h4
below, after the fibo levels (...) i think on nice pullback near 6230.

upside the 6430 is 38% fibo on main move on monthly chart.
this at least would explain the reason of the strong supply found on the pullback from 6355
Attached Image (click to enlarge)
Click to Enlarge Name: gusdd1.gif Size: 25 KB
90% of traders use TA, indicators and prediction
  • #278,490
  • May 6, 2011 2:28am May 6, 2011 2:28am
Quoting _BBKing_
good morning/evening
i added on daily chart some strong levels by monthly and weekly charts
near 6340 white dotted line already tested in the past.
6340 also sma200 in h4
below, after the fibo levels (...) i think on nice pullback near 6230.

upside the 6430 is 38% fibo on main move on monthly chart.
this at least would explain the reason of the strong supply found on the pullback from 6355
morning

if we go down we won't pass 1.614-5 area as this would be 600 pips from top.
if we go up.....I have no idea or we should not pass 1.6520 area

today I think it will be ranging 1.635-1.643-4
we might resume the down on monday.

but I closed another short at 1.6390 and moved SL to BE on the rest

friday is a shitty day to trade and especially the first friday of the month

on GJ still waiting the same thing to short it again.I just need to see the price braking 130.79 today or 131.17 monday and I'm in again for the 127.5 level and 122.4

see ya later.I think I'm going to bed now.could not sleep last night.I dreamt only ninjas
  • #278,491
  • May 6, 2011 2:40am May 6, 2011 2:40am
Quoting redbeben
morning

if we go down we won't pass 1.614-5 area as this would be 600 pips from top.
if we go up.....I have no idea or we should not pass 1.6520 area

today I think it will be ranging 1.635-1.643-4
we might resume the down on monday.

but I closed another short at 1.6390 and moved SL to BE on the rest

friday is a shitty day to trade and especially the first friday of the month

on GJ still waiting the same thing to short it again.I just need to see the price braking 130.79 today or 131.17 monday and I'm in again for the 127.5 level...
yeah today i won't trade
already all closed im here only to share my study hoping will be useful
im leaving my pc right by now after this post, will come back some hours after the NFP maybe.
monday new week, new trends, new levels, money never stop.
first profitable thing to do in forex is not to trade when feel unsure.
have a good rest mate, see you
good luck to all
bybye
90% of traders use TA, indicators and prediction
  • #278,492
  • May 6, 2011 2:59am May 6, 2011 2:59am
we might go under 6345 before news
  • #278,493
  • May 6, 2011 3:06am May 6, 2011 3:06am
just for sharing..I'm still new in forex...
http://3.bp.blogspot.com/-raV0768mFz...w/s1600/gu.JPG
  • #278,494
  • May 6, 2011 3:15am May 6, 2011 3:15am
No trading for me today until well after the NFP. I'm short yen but that's about it.
We have a powerful retracement off a daily uptrend, now sitting on daily support levels and NFP in a few hours.
Gone to a better place
  • #278,495
  • May 6, 2011 3:21am May 6, 2011 3:21am
GBPUSD-D
Attached Image (click to enlarge)
Click to Enlarge Name: 22.gif Size: 20 KB
  • #278,496
  • May 6, 2011 3:55am May 6, 2011 3:55am
Quoting ams
Nice chart, which broker are you with?

It's all about fundamental dynamics mate. Dollar index broke it's lowest level since the banking crisis on friday, S&P issued a warning to US last week too, commodities were at all times high. Something had to be done about that. Yesterdays buy in the dollar came due to exchanges raising margin requirments for commodities. For Silver and oil. Hence small traders jumping out of ship and everyone selling oil. Also fear of the same for other commodities. Hence dollar buying by selling and others just joined the...

NICE INFO BRO..IM LONG ON THE SUM B*TCH
Attached Image (click to enlarge)
Click to Enlarge Name: chart2.jpg Size: 110 KB
  • #278,497
  • May 6, 2011 3:55am May 6, 2011 3:55am
newbie learning here.......


positive news for GU yet not enought for rise? does it tell something or not really any meaning
  • #278,498
  • May 6, 2011 3:59am May 6, 2011 3:59am
Im interested by this chart! please how to procure it? thk's
http://www.marketvisiontv.com/feeds/...large/5690.png

What do you think about this Elliott Wave count ? Why after wave 5 end they start new impulsive wave 1-2-3-4-5 without the abc correction ?
Also do you notice head and shoulder pattern on 4H .[/quote]
  • #278,499
  • May 6, 2011 4:21am May 6, 2011 4:21am
Quoting sphinx8
newbie learning here.......


positive news for GU yet not enought for rise? does it tell something or not really any meaning
nothing happens instantly..can take time..this is why trading is so challenging, u never quite know
  • #278,500
  • May 6, 2011 4:32am May 6, 2011 4:32am
Quoting nAVIN2007
nothing happens instantly..can take time..this is why trading is so challenging, u never quite know
Nice morning to my dear old friend
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