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Cable Update (GBPUSD)

  • #285,381
  • Aug 1, 2011 3:42am Aug 1, 2011 3:42am
bull trap?
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  • #285,382
  • Aug 1, 2011 3:47am Aug 1, 2011 3:47am
not exactly going down as i would have expected with 49.... mmm
90% of traders use TA, indicators and prediction
  • #285,383
  • Aug 1, 2011 3:52am Aug 1, 2011 3:52am
yeh, no downside follow thru (so far ?) after the immediate knee-jerk reaction to that downside...some demand at that previous 1hr swing lo/38.2% 6260-6474.
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U.s data later and of course keep an eye for those U.s House and Senate votes on the debt ceiling/defecit deal...if the bill goes down in either (more likely the House) we could see some action - lol !

G/L

Quoting _BBKing_
not exactly going down as i would have expected with 49.... mmm
ex member
  • #285,384
  • Aug 1, 2011 3:53am Aug 1, 2011 3:53am
Quoting _BBKing_
not exactly going down as i would have expected with 49.... mmm
Really ? I first thought HSBC would move the market more than PMI.

What is it going to be, double top or too much support now ?
  • #285,385
  • Aug 1, 2011 3:59am Aug 1, 2011 3:59am
27/28 celcius which is 81+ in old money expected here in central london this afternoon...will be enjoying the weather rather than sat staring at screens ...what will happen will happen.

G/L
ex member
  • #285,386
  • Aug 1, 2011 4:01am Aug 1, 2011 4:01am
Quoting bbmac
yeh, no downside follow thru (so far ?) after the immediate knee-jerk reaction to that downside...some demand at that previous 1hr swing lo/38.2% 6260-6474.
--------------------------------------------------

U.s data later and of course keep an eye for those U.s House and Senate votes on the debt ceiling/defecit deal...if the bill goes down in either (more likely the House) we could see some action - lol !

G/L
mm i took a short but out few pips...
i wait.
if n once broken out, this 6405(near) will be nice ntry for short imho.
my bad: i didnt short in hedge near daily highs
90% of traders use TA, indicators and prediction
  • #285,387
  • Aug 1, 2011 4:04am Aug 1, 2011 4:04am
Quoting CoffeeGamble
Really ? I first thought HSBC would move the market more than PMI.

What is it going to be, double top or too much support now ?
too much demand near 6400
despite bad manufactury data, market is still buyin gbp.
i cant clearly understand why..
90% of traders use TA, indicators and prediction
  • #285,388
  • Aug 1, 2011 4:07am Aug 1, 2011 4:07am
Quoting bbmac
27/28 celcius which is 81+ in old money expected here in central london this afternoon...will be enjoying the weather rather than sat staring at screens ...what will happen will happen.

G/L
i follow you!
lolz

see you later guys!
good luck
90% of traders use TA, indicators and prediction
  • #285,389
  • Aug 1, 2011 4:11am Aug 1, 2011 4:11am
I' HOPE FOR DOWN !!!
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  • #285,390
  • Aug 1, 2011 5:37am Aug 1, 2011 5:37am
Wats Happening to the post on this Thread.
Keep the Lights on then you can catch the rise from the dark.
  • #285,391
  • Aug 1, 2011 5:56am Aug 1, 2011 5:56am
second time
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  • #285,392
  • Aug 1, 2011 6:21am Aug 1, 2011 6:21am
Quoting _BBKing_
too much demand near 6400
despite bad manufactury data, market is still buyin gbp.
i cant clearly understand why..

quantative easing is expected on gbp..usd is losing strength as well..main thing is getting through today..if a default is avoiding and AAA rating is kept usd should rally and cable may drop like a stone

why am i short?..well..

cable quarterly has a bearish pin..so id think main movement is focused going down..but its definately in limbo imho
  • #285,393
  • Aug 1, 2011 6:59am Aug 1, 2011 6:59am
I'm trying a long here what looks like a bull flag. 6408 SL 6393 TP open
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Don't get mad, get even!
  • #285,394
  • Aug 1, 2011 7:02am Aug 1, 2011 7:02am
And out
Don't get mad, get even!
  • #285,395
  • Aug 1, 2011 7:30am Aug 1, 2011 7:30am
Gone short at 6374, targeting 6333, SL 6394.
  • #285,396
  • Aug 1, 2011 7:36am Aug 1, 2011 7:36am
Quoting Nick35
second time

head and shoulder?
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  • #285,397
  • Aug 1, 2011 7:39am Aug 1, 2011 7:39am
That's it, SL moved to breakeven, I don't trust my fellow bears too much.
  • #285,398
  • Aug 1, 2011 7:40am Aug 1, 2011 7:40am
Quoting CoffeeGamble
Gone short at 6374, targeting 6333, SL 6394.
Yes Sir!!
  • #285,399
  • Aug 1, 2011 7:53am Aug 1, 2011 7:53am
Sold @6408 and don't think it's bad entry since UK data down as expected,

After got in, retracement toward 6470, worried that need to cut loss but 6740 level did great job and price back to down road.

Almost closed, just keep one running, testing 6305-6285
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  • #285,400
  • Aug 1, 2011 7:54am Aug 1, 2011 7:54am
Oh oh, Eurodollar testing 1.4400 it appears.

...and dollar yen bottom developing cracks, looks like I could get stopped out any second.
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