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Cable Update (GBPUSD)

  • #286,101
  • Aug 10, 2011 10:04am Aug 10, 2011 10:04am
Quoting CoffeeGamble
SocGen down 20% in one day ! I'll be on the lookout for any Hitler parodies. You would think they'd be able to prevent such a disaster with put and call options, well... EDIT: Although if it's the peripheral exposure, understandable.

BNP Paribas is France's biggest though, by some measures the biggest in the world, I think.
US banks getting hammered too, I just have to quote my post from earlier today.
Don't get mad, get even!
  • #286,102
  • Aug 10, 2011 10:06am Aug 10, 2011 10:06am
Quoting stulic
More like attention: Wall Street opening bell in 10, all European share markets reversed gains turned red, expect another bloodbath tonight.
Don't get mad, get even!
  • #286,103
  • Aug 10, 2011 10:08am Aug 10, 2011 10:08am
Quoting delorean
Why not?

This is not the "set and forget" kind of EA. It does not use any indicators. It still needs my analysis and decisions of the market. If the "pros" advise to manually trade like a machine, why not let the machine trade like a machine and just monitor and make sure it does what it is suppose to do. The EA is only helping me to trade my analysis.

I don't claim I have the "holy grail". I understand it has its own weaknesses. BUT, when it goes wrong, I am ready to step in and correct it. Which is why I need to improve my market analysis...
Good Luck then
  • #286,104
  • Aug 10, 2011 10:12am Aug 10, 2011 10:12am
Only 220 pips to go till 1.5900
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Don't get mad, get even!
  • #286,105
  • Aug 10, 2011 10:21am Aug 10, 2011 10:21am
Tp short yesterday not played this pair after that . now it on a support or may some down ok 6077 , extreme can be 6007 though but entered the buy zone for scalping . will wait how reacts 6116 & if 6077 before long wave b up .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #286,106
  • Aug 10, 2011 10:34am Aug 10, 2011 10:34am
Quoting riko2705
good trading
stopped out
  • #286,107
  • Aug 10, 2011 10:38am Aug 10, 2011 10:38am
re my post above:

6128-19 prev 4hr sw lo zone with 6127 = 50% 5779-6474

is where the current lo is and with price @ 136% of the 20day atr and 114% of the 20week atr at the lo...the 3min bullish regular divergence play trigger has seen a pullback and pip gain.

Done for day (again)

G/L
Attached Image
ex member
  • #286,108
  • Aug 10, 2011 10:48am Aug 10, 2011 10:48am
6119 may not hold & so took a short scalping at 6162 for more down , qqe daily strikingly down & 50 break level.so looking 6119 to 6077 or down,
fontu
Attached Image
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #286,109
  • Aug 10, 2011 11:06am Aug 10, 2011 11:06am
Quoting stulic
Only 220 pips to go till 1.5900
Maybe tommorow. Not today.
  • #286,110
  • Aug 10, 2011 4:40pm Aug 10, 2011 4:40pm
Quoting Raza
Its is not neccessary to trade everyday but on a most probable setup/ level... at least there is ONE every week...

In other words its best to trade the TIRED wave....up or down..

S.R
must say I like the term.. TIRED wave

expecting 6110-6114 holds as support today. we have daily S1 and WS2 around.
G/L.
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  • #286,111
  • Aug 10, 2011 7:21pm Aug 10, 2011 7:21pm
hi smikester ıf you are around have any comments?
thankyou
  • #286,112
  • Aug 10, 2011 7:26pm Aug 10, 2011 7:26pm
Hi riko. I can't get away with just lurking then? LOL.
Gone to a better place
  • #286,113
  • Aug 10, 2011 7:55pm Aug 10, 2011 7:55pm
I'm holding shorts I set off 1.6240 this morning, the outcome of a straddle 1.6240 to 1.6280. I must say I am still bearish but the straddle trade should give you a clue as to my uncertainty - due more to volatility than anything.

The daily/weekly rising wedge over the last year looks like playing out - the lower trendline having been retested. But this pair is a mess for trend traders with complex support and resistance levels and trend lines and complicated by news releases and rumours.

Good luck to anyone trying to make sense of cable. It is raining here in the UK. That's enough to keep the empty minded thieving scumbags off the streets, but the good minded people want to know why they are being screwed by the government and the banks and I think we all know there are deep troubles with the establishment, money disappearing from this country, the top two police officers in the country resign amid political, financial and media corruption

On the plus side, England's cricket team are doing rather well. That fact will probably hold up cable on its own.
Gone to a better place
  • #286,114
  • Aug 10, 2011 8:09pm Aug 10, 2011 8:09pm
Quoting smikester
I'm holding shorts I set off 1.6240 this morning, the outcome of a straddle 1.6240 to 1.6280. I must say I am still bearish but the straddle trade should give you a clue as to my uncertainty - due more to volatility than anything.

The daily/weekly rising wedge over the last year looks like playing out - the lower trendline having been retested. But this pair is a mess for trend traders with complex support and resistance levels and trend lines and complicated by news releases and rumours.

Good luck to anyone trying to make sense of cable....
thank you
good trading
  • #286,115
  • Aug 10, 2011 8:29pm Aug 10, 2011 8:29pm
Quoting smikester
..

It is raining here in the UK. That's enough to keep the empty minded thieving scumbags off the streets, but the good minded people want to know why they are being screwed by the government and the banks and I think we all know there are deep troubles with the establishment, money disappearing from this country, the top two police officers in the country resign amid political, financial and media corruption..
Sorry to hear that buddy, and to all friends in the UK.
Hopefully everything is back to normal soon.
God bless you.
  • #286,116
  • Aug 10, 2011 8:52pm Aug 10, 2011 8:52pm
Good day all.

From my analysis, Bearish trend are exhausted. GU are currently looking to retrace today.

Stoch(10,3,3) are currently at oversold area. 6120 seems to be a strong support for now. If GU breaks the light blue line, there is a big probably price will retrace to the previous S/R @6300 (Orange circle).

On top of that, US Dollar index (attached) is in the overbought area (according to stoch(10,3,3))and looking to retrace down.

We will see. Good luck all.

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  • #286,117
  • Aug 10, 2011 9:15pm Aug 10, 2011 9:15pm
Quoting gsantri
expecting 6110-6114 holds as support today
She heard me..?

+30 not safe yet though.
expecting pullback after/if macd cross zero level, to add some more.
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  • #286,118
  • Aug 10, 2011 10:37pm Aug 10, 2011 10:37pm
taking a long shot here, confluence with pullback and 50 fibo
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  • #286,119
  • Aug 11, 2011 12:17am Aug 11, 2011 12:17am
hello,

i see a small short order in play in the gbp/usd. could be worth your time for a few quick pips down. here's a chart.
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  • #286,120
  • Aug 11, 2011 12:35am Aug 11, 2011 12:35am
hello all
nice jumps of 60-70 pips seen against that lower red line
anyway im still waiting a touch to previous daily downward.

if goes near 6250-6280 or else 6300, must not forget the possible move down again.
Attached Image (click to enlarge)
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