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Cable Update (GBPUSD)

  • #279,221
  • May 16, 2011 3:55am May 16, 2011 3:55am
Quoting jmtini
Hi all

This morning situation shows some Euro and cable strength. I think it could go up to pivot point of 16216/20 before heading back down.
I caught short at 1.6216 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #279,222
  • May 16, 2011 4:05am May 16, 2011 4:05am
Well I was right the first time! Bounced nice off the pivot point didn't it? But I don't like the choppyness - not a good day to trade. I'm staying out.
  • #279,223
  • May 16, 2011 4:42am May 16, 2011 4:42am
Good day,

can someone see it to? Or its only me

http://www.apbgame.cz/iddqd77/forex/gbpusd_16_5_11.jpg
  • #279,224
  • May 16, 2011 5:15am May 16, 2011 5:15am
Quoting _BBKing_
hello all
linear range 6164-6190

above will see 6205-6230 max 6250
below will see 6145-6090 max 6060



90% of traders use TA, indicators and prediction
  • #279,225
  • May 16, 2011 5:38am May 16, 2011 5:38am
Another major breakout will happen if this condition persists. I really hate this type of ranging market, now waiting for opportunities to ride it's major movement .
  • #279,226
  • May 16, 2011 5:43am May 16, 2011 5:43am
It seems like its back on the up or is this the time now to go and sell?
  • #279,227
  • May 16, 2011 5:53am May 16, 2011 5:53am
I have a long entry at 1.6175.

GU will go up... it will!
  • #279,228
  • May 16, 2011 6:14am May 16, 2011 6:14am
Quote
GU will go up... it will!

having a look at previous H4 bar I won't be so confident about that though.
  • #279,229
  • May 16, 2011 6:18am May 16, 2011 6:18am
cable and euro will be ranging within 100-150 pips in this whole week, today cable may not drop much and euro will drop now and both will go up in US session.
  • #279,230
  • May 16, 2011 6:21am May 16, 2011 6:21am
Quoting mdrive
cable and euro will be ranging within 100-150 pips in this whole week, today cable may not drop much and euro will drop now and both will go up in US session.
and where exactly does that come from? reading the crystal ball?
  • #279,231
  • May 16, 2011 6:22am May 16, 2011 6:22am
yes you can say so, compare my comment end of US session.
  • #279,232
  • May 16, 2011 6:24am May 16, 2011 6:24am
previous 10+ weeks AWR on cable over 340 pips, euro close to 400, so that's gotta be some outlier situation we will have this week according to the crystal ball.
  • #279,233
  • May 16, 2011 6:30am May 16, 2011 6:30am
check my post two weeks ago when when gbp was touching 67 and euro 49, i recommended selling only. i am not here to deceive anyone, i dont post fancy charts, if any one is interested go through my previous post and check if they were correct.
  • #279,234
  • May 16, 2011 6:34am May 16, 2011 6:34am
mdrive there is still room for cable to go lower, considering both the AMR and the quarterly pivot arrangment, which is 5935.
  • #279,235
  • May 16, 2011 6:48am May 16, 2011 6:48am
It might go down to the level you mentioned but it will not happend today or tomorrow. Market dont work that way.
  • #279,236
  • May 16, 2011 6:57am May 16, 2011 6:57am
Quoting josef
I have a long entry at 1.6175.

GU will go up... it will!
I am not confident, I just believe)))

http://imageshack.us/m/847/1619/26790689.png
  • #279,237
  • May 16, 2011 6:59am May 16, 2011 6:59am
Quote
I am not confident, I just believe)))

I like that kind of attitude. good luck!
  • #279,238
  • May 16, 2011 7:24am May 16, 2011 7:24am
Quoting ruffryders
I like that kind of attitude. good luck!
Thank you! I like the car on your avatar. Is it yours?
  • #279,239
  • May 16, 2011 7:27am May 16, 2011 7:27am
Cable gave a nice intra-day long opportunity with a break below support (as highlighted on the chart below) followed by a pinbar/hammer.

Lots of stop losses getting triggered here.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd fakeout.png Size: 32 KB
  • #279,240
  • May 16, 2011 7:27am May 16, 2011 7:27am
Quote
Thank you! I like the car on your avatar. Is it yours?

yeah thanks, it's mine, it's 2008 cayenne turbo s with rinspeed xtreme kit on. although the alloys are 20s on the avatar, for summer I got 22's from kahn design, kinda a tough call with the quality of the local roads but I still like them for the visual effect.
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