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Cable Update (GBPUSD)

  • #279,321
  • May 17, 2011 3:56am May 17, 2011 3:56am
Quoting bbmac
in the headline cpi rate...which went up from 4.0% to 4.5%.

G/L
when will the BOE raise its key rate ? and why not raising .
A chart helps those who can read it.
  • #279,322
  • May 17, 2011 3:58am May 17, 2011 3:58am
Last movement on gbuusd i have already make pending order (po) at 1.6275 sl 1.6251 tp 1.6321... But when movement goes up, my po caught on 1.6295. This is so weird, i was not using instant order, but how could my po just like instant order? Anybody knows how to prove it and how to claim it to instaforex? Tia
  • #279,323
  • May 17, 2011 3:59am May 17, 2011 3:59am
Quoting geniusztc
when will the government raise its key rate ? and why not raising .
The govt does not raise the rate the Boe/Mpc does by a majority vote only. As for when - only they know, the rest of us can only guess...I would argue from a tech trading point of view (particularly intraday trading) who cares ? As long as it provokes a market reactiuon - that's all I care about...ie 'with volatility comes opportunity,' Lol.

G/L
ex member
  • #279,324
  • May 17, 2011 3:59am May 17, 2011 3:59am
This pull back can be a good opportunity for longs. I can only reiterate my recent observations regarding the (weekly) 1.62 support level:

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd110512w1.gif Size: 28 KB
Gone to a better place
  • #279,325
  • May 17, 2011 4:03am May 17, 2011 4:03am
Quoting untusoft
Last movement on gbuusd i have already make pending order (po) at 1.6275 sl 1.6251 tp 1.6321... But when movement goes up, my po caught on 1.6295. This is so weird, i was not using instant order, but how could my po just like instant order? Anybody knows how to prove it and how to claim it to instaforex? Tia
Well, that's called slippage, and you will find your brokers will only offer "the best price". On my feed the price gapped substantially. Almost 30 pips.
Gone to a better place
  • #279,326
  • May 17, 2011 4:09am May 17, 2011 4:09am
Hmm, nice price hike following the news but is it just a wee spike? I attach a piccie of my 4 hr chart - I drew a rough down channel some weeks ago and this current spike is still within it . .
Steve
Attached Image (click to enlarge)
Click to Enlarge Name: cablesnip1.JPG Size: 200 KB
  • #279,327
  • May 17, 2011 4:17am May 17, 2011 4:17am
Quoting smikester
This pull back can be a good opportunity for longs.....
They absolutely can as price pulled back to the 100sma on 1hr confluence with 23.6% of the current daily lo-hi...

So, how much supply above now ?

1min hidden divergence led the way

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: x.jpg Size: 114 KB
ex member
  • #279,328
  • May 17, 2011 4:20am May 17, 2011 4:20am
stop my long just exactly at 1.63. felt not brave enough after reading Euro data
  • #279,329
  • May 17, 2011 4:31am May 17, 2011 4:31am
looking longer out re t/f...the previous swing lo zone on daily t/f is where the 1st upside obstacle is on this t/f...although it is in a general uptrend (100sma remains above 200sma) it did print a LL...

50% of the 6746-6147 fall is @ 6446 and I would imagibbne that an pside breech here will provide bullish encouragement.

Nearer to home, price is struggling to build on the kne-jerk reaction to Uk inflation data earlier. 50% of most recent daily swing hi-lo [6517-6147] is @6331.

G/L
Attached Image
ex member
  • #279,330
  • May 17, 2011 6:29am May 17, 2011 6:29am
Well i am trading again,
2 trades i have
already took long in gbpusd and took 70 pips profit,

nd buying again, at 1.6250
Stop 1.6180

with 2 possible targets
1.6370, second 1.6440

Lets see
Don't compare your Trades with Others
  • #279,331
  • May 17, 2011 6:38am May 17, 2011 6:38am
Quoting DubaiFX
Well i am trading again,
2 trades i have
already took long in gbpusd and took 70 pips profit,

nd buying again, at 1.6250
Stop 1.6180

with 2 possible targets
1.6370, second 1.6440

Lets see
Hero calls followed by margin calls...
  • #279,332
  • May 17, 2011 7:07am May 17, 2011 7:07am
i will buy @ 1.6190 for long TP at 1.6400....
"sharing knowledge make us more rich"
  • #279,333
  • May 17, 2011 7:12am May 17, 2011 7:12am
Quoting rullyforex
i will buy @ 1.6190 for long TP at 1.6400....
what makes you believe it will reach 1.619 and when do you expected that to be??

just asking so I can learn.... no offence here
  • #279,334
  • May 17, 2011 7:33am May 17, 2011 7:33am
Quoting sphinx8
what makes you believe it will reach 1.619 and when do you expected that to be??

just asking so I can learn.... no offence here
1. Dow Jones is negative, GBP will also decline when US market open,
2. usually the effect approx 3,5 hours,
3. now is at 1.6225 30 mnt nav,
4. within 3,5 hours should be at 1.6180 - 1.6190

this is only my analysis

could be wrong or right
"sharing knowledge make us more rich"
  • #279,335
  • May 17, 2011 7:35am May 17, 2011 7:35am
Quoting rullyforex
1. Dow Jones is negative, GBP will also decline when US market open,
2. usually the effect approx 3,5 hours,
3. now is at 1.6225 30 mnt nav,
4. within 3,5 hours should be at 1.6180 - 1.6190

this is only my analysis
makes sense, looks like it will be sooner than 3.5 hours

also thinking about long around 1.61x level
  • #279,336
  • May 17, 2011 7:38am May 17, 2011 7:38am
Quoting sphinx8
makes sense, looks like it will be sooner than 3.5 hours

also thinking about long around 1.61x level
yeah...better put for long....because soon or later will reach 1.67xx
usd strong just for a while... correct me if i am wrong
"sharing knowledge make us more rich"
  • #279,337
  • May 17, 2011 7:52am May 17, 2011 7:52am
Good day to you,

Was out today - my 3 sell limits triggered. Hoping to get to 1.6200 and then 1.6175.

sold @ 1.6241 , 1.6260 and 1.6275.

Trend still down.

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: gu30min.gif Size: 43 KB
  • #279,338
  • May 17, 2011 7:57am May 17, 2011 7:57am
yeah +111,1 pips
now itchy finger for going long....
  • #279,339
  • May 17, 2011 7:58am May 17, 2011 7:58am
Quoting TauTrader
Good day to you,

Was out today - my 3 sell limits triggered. Hoping to get to 1.6200 and then 1.6175.

sold @ 1.6241 , 1.6260 and 1.6275.

Trend still down.

Regards
if the trend still down, what is your prediction about the max GBP price?? will it till 1.59xx???? please share...

I think to buy position: start at morning (my country time) and sell at afternoon...

to sell: sell at afternoon and close at night
"sharing knowledge make us more rich"
  • #279,340
  • May 17, 2011 8:16am May 17, 2011 8:16am
what about MPC meeting tmrw? shall I wait with long entry untill or it will just have temporary effect around announcement time....?
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