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Cable Update (GBPUSD)

  • #283,961
  • Jul 12, 2011 12:35am Jul 12, 2011 12:35am
Quoting josef
Morning

We had bearish party yesterday and it didn't work for me, will try to recover today.

Good luck

Josef
Sounds like you and me both had the same experience.
  • #283,962
  • Jul 12, 2011 12:42am Jul 12, 2011 12:42am
Quoting josef
Morning

We had bearish party yesterday and it didn't work for me, will try to recover today.

Good luck

Josef
Josef, what's your plan of action today?
  • #283,963
  • Jul 12, 2011 12:56am Jul 12, 2011 12:56am
Quoting DubaiFX
Dot sell GU today,
remember patience is the key.
a lott of buying orders have seen at 1.5850
  • #283,964
  • Jul 12, 2011 12:57am Jul 12, 2011 12:57am
Quoting Astroman
Sounds like you and me both had the same experience.
It was just crazy to long cable yesterday unless wanting to scalp 20-30.
People should really pay more attention at fundamental reasons for PA behaviour at volatile times like these, it was actually free cash for everyone with half a brain.
Don't get mad, get even!
  • #283,965
  • Jul 12, 2011 1:02am Jul 12, 2011 1:02am
Be nice to counter trade this bad boy and see if we can get long going
Trade Like a Robot make money Like a Bank
  • #283,966
  • Jul 12, 2011 1:09am Jul 12, 2011 1:09am
Quoting stulic
It was just crazy to long cable yesterday unless wanting to scalp 20-30.
People should really pay more attention at fundamental reasons for PA behaviour at volatile times like these, it was actually free cash for everyone with half a brain.
As I mentioned earlier I entered that trade to test a new hypothesis. So far it has not worked out so well.

As I also mentioned my position is only 1-mini-lot.

Half brain or not, I am always testing, quantifying, and putting them to the test with real cash.
  • #283,967
  • Jul 12, 2011 1:15am Jul 12, 2011 1:15am
i won't look for long position until price will reverse this pattern.
we are below 6000, below 5930 n 5910, eated the 5880 and now in 5850 but still no significant pullbacks to let me think on a reversal. i went short crazy yesterday @5904 targeted 5860.
next targets imho are 5800 5790 n 5760 n i will search for entries above actual price
unless i see a strong move up n a strong closing (at least daily) above 5930 again, i will only search short entries..........
then possible scalps (10-15-20 pips) on main levels.

in few words my setup is 'sell rallies'
Attached Image (click to enlarge)
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90% of traders use TA, indicators and prediction
  • #283,968
  • Jul 12, 2011 1:15am Jul 12, 2011 1:15am
Quoting Astroman
As I mentioned earlier I entered that trade to test a new hypothesis. So far it has not worked out so well.

As I also mentioned my position is only 1-mini-lot.

Half brain or not, I am always testing, quantifying, and putting them to the test with real cash.
I know I read it, poor choice of wording on my end anyway sorry, didn't mean to make it sound like that but it literally was free cash shorting every pair carrying USD.
Don't get mad, get even!
  • #283,969
  • Jul 12, 2011 1:36am Jul 12, 2011 1:36am
Quoting CasperTrader
Josef, what's your plan of action today?
Want to go long, but hard to determine good entry. Waiting for now.
  • #283,970
  • Jul 12, 2011 1:40am Jul 12, 2011 1:40am
Quoting josef
Want to go long, but hard to determine good entry. Waiting for now.
Thanks. I did go long @ 1.5855 but looking for a strong bullish candle for confirmation else I might reverse.
  • #283,971
  • Jul 12, 2011 1:50am Jul 12, 2011 1:50am
Quoting CasperTrader
Thanks. I did go long @ 1.5855 but looking for a strong bullish candle for confirmation else I might reverse.
I'll wait for 5780, but that's just me.
Don't get mad, get even!
  • #283,972
  • Jul 12, 2011 2:02am Jul 12, 2011 2:02am
u can monitor my positions GBPUSD here

http://instaforex.com/pamm_monitoring.php?user=1040064
{Link Removed}]
  • #283,973
  • Jul 12, 2011 2:06am Jul 12, 2011 2:06am
G/M,

Pullback off yesterday's 59881 Lo found supply at the previous 4hr swing lo zone (previous support now resistance) for a further leg down overnight and into the early London session. Price Lo so far today is inside that previous daily swing lo zone extending to 5818 right on / about the Weekly S2 pivot 5832. There has been a decisive downside break of the ascending trend line on the daily t/f

1hr 4hr and daily are in opa downtrends, with 1hr and 4hr 100sma's below their respective 200sma's and pointing down.

Below current price I see the following potential support factors:

5845 Daily S1 @/around
5832-18 Previous Daily swing lo zone incl Weekly S2 @/around 5832
5802 Monthly S1 @/around
5790-44 Previous Daily swing lo zone incl 38.2% 4225-6746
5784 Daily S2 @/around
5781-5745 Previous Daily Swing lo zone
5735 Weekly S3 @/around
5685 Daily S3 @/around
5675 76.4% 5343-6746
------------------------------------------------

Immediate upside obstacles are shown on 1hr screenshot below.

G/L
Attached Image
ex member
  • #283,974
  • Jul 12, 2011 2:11am Jul 12, 2011 2:11am
Event Risk: Uk Cpi and Rpi inflation numbers and Trade Bal to come at 0930am London.

Rate rise pretty much ruled out in near-term but a rise of CPi above 5% will put pressure back on Boe/Mpc for such...could see some knee-jerk £ buying in that event. Conversely any easing of inflation numbers may see some knee-jerk £ selling as the greater probability outcome.

It's data - anything can happen.

G/L
ex member
  • #283,975
  • Jul 12, 2011 2:13am Jul 12, 2011 2:13am
I say in a hour or so we may have a chance to hit is long, and grab a nice lil run
Trade Like a Robot make money Like a Bank
  • #283,976
  • Jul 12, 2011 2:17am Jul 12, 2011 2:17am
Eurusd has also made a decisive downside break of it's recent daily triangle pattern.

G/L
Attached Image (click to enlarge)
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ex member
  • #283,977
  • Jul 12, 2011 2:19am Jul 12, 2011 2:19am
Cable testing bottom of that aforementioned previous daily swing lo zone, pictured below;

G/L
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ex member
  • #283,978
  • Jul 12, 2011 2:19am Jul 12, 2011 2:19am
Quoting bbmac
Eurusd has also made a decisive downside break of it's recent daily triangle pattern.

G/L
I love it when TA people tell you the day after shit hit the fan, that shit hit the fan.
Don't get mad, get even!
  • #283,979
  • Jul 12, 2011 2:25am Jul 12, 2011 2:25am
Quoting Sar
Tp 1.5840
Tp achieve. hehe..
Rome was not built in a day, but I will do in a day if it was me.
  • #283,980
  • Jul 12, 2011 2:26am Jul 12, 2011 2:26am
Lol, yeh and what is even funnier is when you know how to read the clues before it happens !...then the joke spreads to your bank manager and he sees the funny side.

Quoting stulic
I love it when TA people tell you the day after shit hit the fan, that shit hit the fan.
ex member
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