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Cable Update (GBPUSD)

  • #279,641
  • May 19, 2011 11:12am May 19, 2011 11:12am
Now here's something to learn: if I understood them correctly WB has a bearish and TT has a bullish bias. Both are experienced traders. Now, who will be right? And does that matter?
  • #279,642
  • May 19, 2011 11:24am May 19, 2011 11:24am
For anyone who's interested, the exact position right now is that we are in definately retracement mode after fall from around 6700. On 4 hour chart downtrend hasn't really started if you look at 30,50,100,200 smas still not all pointing in the right direction or cross over yet.

Retracement breakout point is around 16250 if broken targeting 16450 (see chart). If that is broken we could go all the way back to 6700

rgds
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd h4.gif Size: 20 KB
  • #279,643
  • May 19, 2011 11:32am May 19, 2011 11:32am
Quoting wormboy
Hello Tau, how's it going brother
So when are you going to drop by the hole ..
Good day to you,

One of these days... thank you. Have not been trading much lately - so not very focussed and may contribute some rubbish.

Appreciate the invite though

Regards to you and the family
  • #279,644
  • May 19, 2011 11:36am May 19, 2011 11:36am
closed all my trade @ 16194 i dunno if my move is rite but its enough for today . thx for advice worm boy
Just Newbie Need Guidance From The Expert
  • #279,645
  • May 19, 2011 11:38am May 19, 2011 11:38am
GBPUSD Forex Signal
GBPUSD has reached an interesting juncture on the weekly chart and it is good time to review for any potential trade. Lets start with technical analysis first.
GBPUSD Technical Analysis
GBPUSD has been in a long term uptrend, correction started two weeks ago when price failed to break above 1.6750. Since then GBPUSD has dropped 600 pips and came down to rest on Weekly Trendline.
If GBPUSD manages to move below and close below 1.6100 on daily/weekly chart then further down ward movement is likely to continue. A bounce from this Trendline to the upside can send the pair back to 1.6750.
GBPUSD Fundamental Analysis
Members of the Monetary Policy Committee (MPC) yesterday decided against increasing the interest rates. For few months now market has been speculating on MPC to increase rates, but rise in inflation and slow economic growth are hindering the way to any increase in interest rates. A rate rise will further decline growth and could accelerate inflation beyond 4.5%
Keep an eye on the retail sales numbers later today and speeches from couple of MPC members.

GBPUSD Forex Signal
We will remain bullish and look for Longs until 1.6750. If GBPUSD manages to close below 1.6100 then we will turn bearish and look for Shorts.


This company usually is on the ball!!

rgds
  • #279,646
  • May 19, 2011 11:40am May 19, 2011 11:40am
i'm sorry thc to bbking for advice
Just Newbie Need Guidance From The Expert
  • #279,647
  • May 19, 2011 12:11pm May 19, 2011 12:11pm
Quoting wormboy
heh .. if you say so.
lol
  • #279,648
  • Edited 12:34pm May 19, 2011 12:15pm | Edited 12:34pm
Good day to you,

Looking at the weekly, we may have formed a bullish 1-2-3 pattern that could take us back to at least the high on the 3 bar - @ 1.6520

Just putting this option out there...

Regards
Attached Image (click to enlarge)
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  • #279,649
  • May 19, 2011 12:16pm May 19, 2011 12:16pm
Quoting digger1
lol
Yo Dig...

Whutsa shakin Big Dawg?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #279,650
  • May 19, 2011 12:20pm May 19, 2011 12:20pm
Quoting TauTrader
Good day to you,

Looking at the weekly, we may have formed a bullish 1-2-3 pattern that could take us back to at least the high on the 3 bar - @ 1.6520

Just putting this option out there...

Regards
bet u wished u held now aye buddy..
check euro the mofo..
  • #279,651
  • May 19, 2011 12:26pm May 19, 2011 12:26pm
Quoting nAVIN2007
bet u wished u held now aye buddy..
check euro the mofo..
Yip - should have, could have....

Will see where I can get in - hope for some retracement later... otherwise I will find something else to keep me busy

All the best to you
  • #279,652
  • May 19, 2011 12:27pm May 19, 2011 12:27pm
Quoting Magix
Yo Dig...

Whutsa shakin Big Dawg?
Howdy brother , whts up, hope all is well for you . Mother nature has been making the spring planting season a long drawn out battle but Im gaining lol.
  • #279,653
  • May 19, 2011 12:31pm May 19, 2011 12:31pm
Quoting nAVIN2007
bet u wished u held now aye buddy..
check euro the mofo..
good day,

EU looks to have the same...
Attached Image (click to enlarge)
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  • #279,654
  • May 19, 2011 12:42pm May 19, 2011 12:42pm
Quoting digger1
Howdy brother , whts up, hope all is well for you . Mother nature has been making the spring planting season a long drawn out battle but Im gaining lol.
We had snow on the ground and frsh flakes a falling still in the beginning of this month...

I think the only thing farmers out here are gunna be crop rich on is Mosquitos.

Roads flooded over, fields and fences under water...seen quite a few cows stuck belly deep in mud, >>Insert "GROUND": beef joke here<<

I believe them to be about 2 weeks behind last year, and last year was a shit year. Late growing, early frost...I think with another couple growing years like this, we will probably just convert the province of Alberta into a Golf and water park...

Nice to see ya back in print...

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #279,655
  • May 19, 2011 12:54pm May 19, 2011 12:54pm
Quoting nAVIN2007
bet u wished u held now aye buddy..
check euro the mofo..
so what do you say fellows..... shall we short from 1.62 ? or better not )
  • #279,656
  • May 19, 2011 1:11pm May 19, 2011 1:11pm
Quoting sphinx8
so what do you say fellows..... shall we short from 1.62 ? or better not )
Good day to you,

No shorting here - may look at 1.6270 - 1.6280 if all alighed for a pullback - or will long from 1.6120 area.

But I am staying out for now.

Regards
  • #279,657
  • May 19, 2011 1:17pm May 19, 2011 1:17pm
Quoting TauTrader
Good day to you,

No shorting here - may look at 1.6270 - 1.6280 if all alighed for a pullback - or will long from 1.6120 area.

But I am staying out for now.

Regards

got the same long ready...... the question is when short
ok will wait a bit
  • #279,658
  • May 19, 2011 1:19pm May 19, 2011 1:19pm
Quoting sphinx8
got the same long ready...... the question is when short
ok will wait a bit
My apology. The post is my opinion only. You need to do what you see fit as per your trading plan. I do not want to influence your decisions.

Regards
  • #279,659
  • May 19, 2011 1:32pm May 19, 2011 1:32pm
Quoting NoviceInd
i'm sorry thc to bbking for advice
doesn't matter mate
most important thing is your money on account

im happy you got profit!!
90% of traders use TA, indicators and prediction
  • #279,660
  • May 19, 2011 1:37pm May 19, 2011 1:37pm
here's the price indicator bro
if some one knows how to setup it also with the 5th pip, is very welcome
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File Type: mq4 MMPrice THV.mq4   2 KB | 272 downloads
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