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Cable Update (GBPUSD)

  • #279,901
  • May 24, 2011 4:29am May 24, 2011 4:29am
touche

how you bro! what you eyeing up at the moment - Im trying to just keep with euro and aud really.. although even aud a bit funny! Also find eurjpy unhelpful due to usdjpy!

used to like cable alot...


Quoting smikester
Another messy morning so far. How people trade this pair is beyond me. London bankers who control a high proportion of Forex trading: "Oh here's a few billion someone wants changing from USD to Danish Krone. Let's drop it on Cable for 15 minutes, take profit and then pay the clients? Less our commission, of course."
"Millionaires don't use astrology, billionaires do"
  • #279,902
  • May 24, 2011 4:31am May 24, 2011 4:31am
I can't believe... still couldn't break on 1.6050 ...
and also cannot touch on 1.6180...
sigh....
I hope this last trial before news can reach on 1.6180 or even 1.6200 .. LOL...
before going down into 1.6000...

*if I'm GOD... LOL
  • #279,903
  • May 24, 2011 4:52am May 24, 2011 4:52am
Quoting forex_growth
touche

how you bro! what you eyeing up at the moment - Im trying to just keep with euro and aud really.. although even aud a bit funny! Also find eurjpy unhelpful due to usdjpy!

used to like cable alot...
I think the upcoming end of QE2 is having some effect as well as the pending Euro defaults. Not to mention China's inflation bubble and peak? oil. The list goes on. Expect a choppy ride.

I have longs off .8700 EUR/GBP. Big consolidation in the last 24 hours. This is one of the most reliable trenders. I also hold longer term longs USD/JPY. My other preferred pair, the Swissy, is having another retest of .8800 today so I leave alone, for now.

For me, cable is the least reliable trender of the four. But I'm trying to build my skills here...
Gone to a better place
  • #279,904
  • May 24, 2011 5:10am May 24, 2011 5:10am
I will always follow Australian Dollar or Euro as Indicator so far
Bull and Bear is fighting to get position (sideway)

  • #279,905
  • May 24, 2011 5:47am May 24, 2011 5:47am
any idea how much north she goes? do not want to miss out good TP
  • #279,906
  • May 24, 2011 6:00am May 24, 2011 6:00am
Harmonic structure
Bearish Butterfly on m15 now.

Large Bullish Gartley on H4.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gpdusd-h4.jpg Size: 79 KB
Click to Enlarge Name: gpdusd-m15.jpg Size: 75 KB
  • #279,907
  • May 24, 2011 7:19am May 24, 2011 7:19am
Quoting sphinx8
any idea how much north she goes? do not want to miss out good TP
i dont think any one can tell.
  • #279,908
  • May 24, 2011 7:25am May 24, 2011 7:25am
Hi people, dumb question, what is your signature???
If you are new to Forex? Say Goodbye to your account!!
  • #279,909
  • May 24, 2011 8:24am May 24, 2011 8:24am
Quoting mrforexlee
I will always follow Australian Dollar or Euro as Indicator so far
Bull and Bear is fighting to get position (sideway)

if the condition is like that, you better avoid trading
only an analysis, and I'm always wrong, don't follow me,
  • #279,910
  • May 24, 2011 9:20am May 24, 2011 9:20am
i think no more strength in USD...time for GBP to up...
"sharing knowledge make us more rich"
  • #279,911
  • May 24, 2011 9:21am May 24, 2011 9:21am
Quoting TauTrader
Good day to you,

Little push lower eventually came. So we could be forming a turning point here with some bullishness starting to enter the market again. 1.6180 to 1.6200.? This would only be temporary strength at this point. Nothing long term.

Let's see

Regards
  • #279,912
  • May 24, 2011 11:47am May 24, 2011 11:47am
Quoting smikester
Hey Low! What's happening? Why 1.6020?

Anyway. Price beat around 1.6102 for a while around 1st April and this looks like a break and retest to me, going down instead of up. But there is no trade here for me today.
There was a TL and some SR I like there. Not looking likely today. If I woke up earlier, I'd be happy to day-trade it either direction, but I didn't, and have better things to do than watch late NY action.
  • #279,913
  • May 24, 2011 1:24pm May 24, 2011 1:24pm
Good day to you,

Will be looking for 1.6220 - 1.6240 area to short. Back down to 1.6140 - 1.6100 area. Then long again towards a new possible high. This is my trading plan for the remainder of the week, in a nutshell.

Follow your own path.

All the best to you
  • #279,914
  • May 24, 2011 2:48pm May 24, 2011 2:48pm
Quoting TauTrader
Good day to you,

Will be looking for 1.6220 - 1.6240 area to short. Back down to 1.6140 - 1.6100 area. Then long again towards a new possible high. This is my trading plan for the remainder of the week, in a nutshell.

Follow your own path.

All the best to you

those last 20-40 pips up are nerves taking.......... GU stuck for half a day now........... hope the Ninjas will be on viagra before chopping to south
  • #279,915
  • May 24, 2011 3:11pm May 24, 2011 3:11pm
Quoting TauTrader
Good day to you,

Will be looking for 1.6220 - 1.6240 area to short. Back down to 1.6140 - 1.6100 area. Then long again towards a new possible high. This is my trading plan for the remainder of the week, in a nutshell.

Follow your own path.

All the best to you
why 6220? 6209 is the 61.8 retrace why not get in now? Market might miss your entry.
  • #279,916
  • May 24, 2011 3:16pm May 24, 2011 3:16pm
Quoting Phil Warran
Market might miss your entry.
Sorry Phil, but jumping in "Now! So you don't miss your entry!" is a really good way to lose lots of money, quickly.

If there's anything my screen time has taught me, it's that there really is always another trade just around the corner.
  • #279,917
  • May 24, 2011 3:19pm May 24, 2011 3:19pm
Quoting Phil Warran
why 6220? 6209 is the 61.8 retrace why not get in now? Market might miss your entry.
good point here - TauT why do see 1.6220 as turning point? It is just number in the middle of R1 and R2...... just asking what is behind 1.6220
  • #279,918
  • May 24, 2011 3:22pm May 24, 2011 3:22pm
Quoting Low
Sorry Phil, but jumping in "Now! So you don't miss your entry!" is a really good way to lose lots of money, quickly.

If there's anything my screen time has taught me, it's that there really is always another trade just around the corner.
I agree, I guess with a potential 200 pip trade with a smaller lot size off a 61.8 retrace I am torn between good and evil
  • #279,919
  • May 24, 2011 3:43pm May 24, 2011 3:43pm
Sorry Low, "jumping in now" is irresposible language and I don't advocate just jumping in early for no reason. I just saw that market had reached 6209 (or 08 actually) at the 61.8 retrace and could not see why it should go higher to 6220-40.
  • #279,920
  • May 24, 2011 3:48pm May 24, 2011 3:48pm
Just food for thought. US stocks had a lousy market day yesterday contributing to dollar strength. This move up could just be a temporary correction before going further south to 1.60.
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