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Cable Update (GBPUSD)

  • #281,241
  • Jun 13, 2011 1:14pm Jun 13, 2011 1:14pm
Quoting _BBKing_
look how it appears now my chart
i work a lot to follow PA as in my experience the worst thing to do in markets is to try to predict a move.

target open

out 1/3 @ 6360 resistance
90% of traders use TA, indicators and prediction
  • #281,242
  • Jun 13, 2011 1:16pm Jun 13, 2011 1:16pm
Quoting ricmaj
What is causing this movements, speeches or what

good question!
i really don't know!
i think market wants to test the 6390-6420 resistance area
90% of traders use TA, indicators and prediction
  • #281,243
  • Jun 13, 2011 1:19pm Jun 13, 2011 1:19pm
out another 1/3 @6370
let the other last 1/3 to run to 6410 lets see
90% of traders use TA, indicators and prediction
  • #281,244
  • Jun 13, 2011 1:19pm Jun 13, 2011 1:19pm
Quoting ricmaj
What is causing this movements, speeches or what

http://www.forexlive.com/blog/2011/0...nficant-risks/
  • #281,245
  • Jun 13, 2011 1:23pm Jun 13, 2011 1:23pm
Quoting forexwizard
http://www.forexlive.com/blog/2011/0...nficant-risks/

i was posting this same link
90% of traders use TA, indicators and prediction
  • #281,246
  • Jun 13, 2011 1:26pm Jun 13, 2011 1:26pm
longs closed @ 637

hope to revist low 1.62 again so we can load again
  • #281,247
  • Jun 13, 2011 1:27pm Jun 13, 2011 1:27pm
6372 is a fibo confluence 6466-->6211

lets see if eat it
90% of traders use TA, indicators and prediction
  • #281,248
  • Jun 13, 2011 1:30pm Jun 13, 2011 1:30pm
m1 consolidation mode in 6360
a fail could mean 6340
if goes could mean 6380
90% of traders use TA, indicators and prediction
  • #281,249
  • Jun 13, 2011 1:35pm Jun 13, 2011 1:35pm
Quoting _BBKing_
out another 1/3 @6370
let the other last 1/3 to run to 6410 lets see
you think it will get to the 6410 emmmm sounds so pips making all d day
Keep the Lights on then you can catch the rise from the dark.
  • #281,250
  • Jun 13, 2011 1:39pm Jun 13, 2011 1:39pm
Quoting ricmaj
you think it will get to the 6410 emmmm sounds so pips making all d day

yes i know!
but is strongly possible to see price near 6400 very soon
i closed whole position 6365

it's dinner time now here and im 3lots +60 pips hungry

see you all tomorrow!
90% of traders use TA, indicators and prediction
  • #281,251
  • Jun 13, 2011 1:42pm Jun 13, 2011 1:42pm
Quoting _BBKing_
6372 is a fibo confluence 6466-->6211

lets see if eat it
Got any TP for your cable long?
  • #281,252
  • Jun 13, 2011 1:53pm Jun 13, 2011 1:53pm
Quoting _BBKing_
yes i know!
but is strongly possible to see price near 6400 very soon
i closed whole position 6365

it's dinner time now here and im 3lots +60 pips hungry

see you all tomorrow!
Very well done matey
  • #281,253
  • Jun 13, 2011 2:01pm Jun 13, 2011 2:01pm
I don't get it. What is driving the cable up inspite of the bad fundamentals littered all over the place? What's going on?
  • #281,254
  • Jun 13, 2011 2:05pm Jun 13, 2011 2:05pm
This is surprising. The fundamentals tell of a "not so good looking" british economy but the cable finds volatile strength today? I just don't get the rationale behind forex traders. What is driving the pound up today can someone please explain?
  • #281,255
  • Jun 13, 2011 2:53pm Jun 13, 2011 2:53pm
Quoting magbrr
This is surprising. The fundamentals tell of a "not so good looking" british economy but the cable finds volatile strength today? I just don't get the rationale behind forex traders. What is driving the pound up today can someone please explain?

Earlier today I posted here that I will be longing today irrespective of the confirm bearish trend as supported by my indicator but facts remain that Oil and Gold also signalled such and the result of all trending short would mean a crash of the world economy.
Keep the Lights on then you can catch the rise from the dark.
  • #281,256
  • Jun 13, 2011 3:50pm Jun 13, 2011 3:50pm
Quoting magbrr
This is surprising. The fundamentals tell of a "not so good looking" british economy but the cable finds volatile strength today? I just don't get the rationale behind forex traders. What is driving the pound up today can someone please explain?
Hi dude, remember smart money (pro's) know news releases well before us, and in truth GBP news is amazingly good compared to US's, dollar is in a desperate situation. Every downmove on GU an EU im sure smart money are buying into it, whilst retail (the herd) are selling. Thats how they work it, thats how they catch us out. Remember your higher time frames - weekly and daily are in uptrends still, thats important. Anyways hope u dont mind me passing me view across.
  • #281,257
  • Jun 13, 2011 4:08pm Jun 13, 2011 4:08pm
Quoting magbrr
This is surprising. The fundamentals tell of a "not so good looking" british economy but the cable finds volatile strength today? I just don't get the rationale behind forex traders. What is driving the pound up today can someone please explain?
GBP's Weale spoke of early interest rate hike wouldn't be a bad thing at 7pm. That ties in with the big spike at that time. My view is we will see a drop again tomorrow, possibly back to today's low. I am short at 1.6382 for 100 pips to 1.6282.
  • #281,258
  • Jun 13, 2011 4:10pm Jun 13, 2011 4:10pm
Quoting ricmaj
Earlier today I posted here that I will be longing today irrespective of the confirm bearish trend as supported by my indicator but facts remain that Oil and Gold also signalled such and the result of all trending short would mean a crash of the world economy.

Yep - and more to come tomorrow IMHO

Watch out for SL hunt around 16460/70 target is 16500

4hr RSI chart still very bullish, can't see any stop before 6500 now

rgds
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  • #281,259
  • Jun 13, 2011 4:16pm Jun 13, 2011 4:16pm
I see 1.70 in july.
  • #281,260
  • Jun 13, 2011 9:17pm Jun 13, 2011 9:17pm
I see cable has too many resistance in his way
first res : SM 200
second res: down trend that link between three tops
third res : also a down trend .

so it has to break them all to get 1.5000
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