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Cable Update (GBPUSD)

  • #280,161
  • May 26, 2011 9:49pm May 26, 2011 9:49pm
Quoting Forex GuyZ
come on baby..eat all those retail traders stops. spike up another 60-70 pips!!!
i think 6450-55 will be the max. Sell at 6391 in London or US will be good short.
  • #280,162
  • Edited 11:00pm May 26, 2011 10:40pm | Edited 11:00pm
I couldn't sleep - switched on - has the dollar collapsed or something?


Panic selling of the USD against the EUR and the CHF ahead of the long weekend is the only way to describe these nasty stop-driven markets.
  • #280,163
  • May 26, 2011 10:58pm May 26, 2011 10:58pm
Quoting jmtini
I couldn't sleep - switched on - has the dollar collapsed or something?
It is just running stop loss.
  • #280,164
  • May 26, 2011 10:59pm May 26, 2011 10:59pm
Quoting jmtini
I couldn't sleep - switched on - has the dollar collapsed or something?
bernanke making a Sneaky step . making dollars low so US can export.
my sell gbp @ 16350 dying stop @ 150 pips . 100 pips . minus omg and this time no hedge OMG will it lost 750 usd
Just Newbie Need Guidance From The Expert
  • #280,165
  • May 26, 2011 11:09pm May 26, 2011 11:09pm
Quoting wormboy
Ignore them nav, we've seen these type come & go.
Anyone else thick enough to follow these clowns selling a very strong upmove well ... I have a message for you

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V

u werent wrong brother!!!
wormie it the nail on the head again..

even posted a clearer picture
  • #280,166
  • May 26, 2011 11:13pm May 26, 2011 11:13pm
Oh my God, is that a bear candle i see forming on the 4hr!?!
  • #280,167
  • May 26, 2011 11:45pm May 26, 2011 11:45pm
No position for me until pullbacks, I don't see any sign for reversal yet. Looking for LONG since uptrend still prevails.
  • #280,168
  • May 26, 2011 11:58pm May 26, 2011 11:58pm
Quoting 0rPhioZ
No position for me until pullbacks, I don't see any sign for reversal yet. Looking for LONG since uptrend still prevails.
i was saying this..once the bullish harami triggered, which i guess many pending long orders triggered of the weekly..it would take something to stop the long..

i cant remember if i even seen 4 bullish dailly candles in a row..
this is forex no rules and anything goes..u guys are lucky day have been seen where cable moves 500 piperoes a day!!

Quoting chrisbelcher
Oh my God, is that a bear candle i see forming on the 4hr!?!
u better be on a demo? ..its a bull candle
  • #280,169
  • May 27, 2011 12:50am May 27, 2011 12:50am
Quoting 0rPhioZ
No position for me until pullbacks, I don't see any sign for reversal yet. Looking for LONG since uptrend still prevails.

Totally agreed with you. Looking for chance to enter long position
  • #280,170
  • May 27, 2011 1:05am May 27, 2011 1:05am
could someone analyze this bullish pattern means for longterm
(mark with circle)
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.jpg Size: 187 KB

Currently i waited out the monthly candle touching MA89 1.69xx
i dunno for sure thou

thx
Guide me please
  • #280,171
  • May 27, 2011 1:12am May 27, 2011 1:12am
Quoting Hazarder
hi zodiak
Hi friend..hope you're doing fine...nice chart..point exactly..
  • #280,172
  • Edited 2:55am May 27, 2011 2:08am | Edited 2:55am
G/M

This is one strong uptrend atm, all dips bought and new highs achieved...price now @ 131% of it's 20week atr so far this week.

Above current price and that previous 4hr/daily swinmg hi leading to 6517 moves into view...price now challenging area of 1.618% fib extension of the last daily swing hi-lo 6517-6057, above here and 61.8% 6722-6057 is @ 6467, Monthly Pivot around 6473, 61.8% of main 6746-6057 move is @ 6482, Daily R2 6489 and Weekly R3 @ 6512.

G/L
ex member
  • #280,173
  • May 27, 2011 2:10am May 27, 2011 2:10am
dare not long anymore , stand outside now.
Give me patience
  • #280,174
  • May 27, 2011 2:12am May 27, 2011 2:12am
Hi all

Wow, this game is easy on days like this!!

Don't think we've seen too many like this before?

rgds to all for LOTS of pips
  • #280,175
  • May 27, 2011 2:18am May 27, 2011 2:18am
At the high the 1.618% fib ext of 6517-6057, Weekly M6 pivot, and 138.2% fib ext of yesterday's range.

G/L
ex member
  • #280,176
  • May 27, 2011 2:25am May 27, 2011 2:25am
Major fib plots of the upmove to current hi re from 6057, 6131, and 6274 ?
All ascending trend lines 1hr + remain intact...1hr 100sma crosses above it's 200sma.

Current near-term 1hr screenshot is below.

G/L
Attached Image
ex member
  • #280,177
  • May 27, 2011 2:26am May 27, 2011 2:26am
Quoting bbmac
G/M

This is one strong uptrend atm, all dips bought and new highs achieved...price now @ 131% of it's 20week atr so far this week.

Above current price and that previous 4hr/daily swinmg hi leading to 6517 moves into view...price now challenging area of 1.618% fib extension of the last daily swing hi-lo 6517-6057, above here and 61.8% 6722-6057 is @ 6467, Monthly Pivot around 6473, 61.8% of main 6746-6057 move is @ 6482, Daily R2 6489 and Monthly R3 @ 6512.

G/L
....nothing more to add!
  • #280,178
  • May 27, 2011 2:44am May 27, 2011 2:44am
Perhaps cable has taken heart from higher than forecast Uk nationwide HPI out earlier ...ie the last leg up being a with trend reaction to this ? Whatever the case it remains bullish - dips bought, latest down to 23.6% of the last but one 1hr swing up to current Hi 6378-6460.

How much stronger are the bulls on this the last day of week and month and with price already extended from weekly average atr ? Price only at 58% of the 20day atr so far today.

Time will tell

G/L
ex member
  • #280,179
  • May 27, 2011 2:49am May 27, 2011 2:49am
amazing how many traders continue to pick the top of this strong uptrend and short it hoping for a cricket score and outright reversal...why didn't they find places to buy it on the way up instead, ie stay with the money flow not against it?...it's partly psychological beacuse if you are not involved in the trend you have a tendency to look for a trade and the next trade is likely to be a pullback/reversal..but instead it is often better looking to buy the pullback as opposed to holding the short. Of course the 'top' will come somewhere but in the meantime it is better to try and get involved with trend not against it?

G/L
ex member
  • #280,180
  • May 27, 2011 3:06am May 27, 2011 3:06am
Quoting bbmac
amazing how many traders continue to pick the top of this strong uptrend and short it hoping for a cricket score and outright reversal...why didn't they find places to buy it on the way up instead, ie stay with the money flow not against it?...it's partly psychological beacuse if you are not involved in the trend you have a tendency to look for a trade and the next trade is likely to be a pullback/reversal..but instead it is often better looking to buy the pullback as opposed to holding the short. Of course the 'top' will come somewhere but in the...

i guess people are scared of retrace and thinking how long is the piece of string, over leverage comes into play as well..n the idea of selling at discount..

what kills me is the trend is yur friend bit (not hard really to go with the trend but people generally like to go against it, why this happens mostly is quite amusing really..however, trading really is a fantastic things huh..u gotta love it!!! especially when it goes right
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