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Cable Update (GBPUSD)

  • #289,441
  • Sep 23, 2011 5:11am Sep 23, 2011 5:11am
Quoting Flatfish
I don't like to comment on peoples trades- because we all trade our own systems . But the reason I posted my previous comments above about flows was because you bought just as the London guys were switching to sell.
thanks for the info Flatfish, keep it in mind.....
Don't be a hero. Don't have an ego. Always question yourself
  • #289,442
  • Sep 23, 2011 5:28am Sep 23, 2011 5:28am
strong support at 1.5350, breaking this could lead to more downside while uncertainty continues, anyone planning some Sell Stops?

http://2.bp.blogspot.com/-_hm1CJyFmO...+at+1.5350.png
  • #289,443
  • Sep 23, 2011 6:38am Sep 23, 2011 6:38am
1,5464 strong to break
  • #289,444
  • Sep 23, 2011 6:40am Sep 23, 2011 6:40am
Quoting Nick35
1,5464 strong to break
Sticking my neck on the block - could see 1.5297 by end of day

EDIT: Same as earlier with 1.36
  • #289,445
  • Sep 23, 2011 6:48am Sep 23, 2011 6:48am
Tricky to call cable now. Ozzie and Kiwi made new post FOMC low and euro made a low below its London open while cable didn't. I think cable will try to trip stops above London high and reverse- but it is Friday afternoon so price action tends to die off.
  • #289,446
  • Sep 23, 2011 6:48am Sep 23, 2011 6:48am
Quoting FXConveyor
Sticking my neck on the block - could see 1.5297 by end of day

EDIT: Same as earlier with 1.36
yes but 4h tell me that if we break 100 pips up we could take
  • #289,447
  • Sep 23, 2011 7:10am Sep 23, 2011 7:10am
Quoting Flatfish
Tricky to call cable now. Ozzie and Kiwi made new post FOMC low and euro made a low below its London open while cable didn't. I think cable will try to trip stops above London high and reverse- but it is Friday afternoon so price action tends to die off.
The big sell off will come Monday, bro...
  • #289,448
  • Sep 23, 2011 7:14am Sep 23, 2011 7:14am
Good morning everyone.

Staying out for now - chart posted with notes. Check back on my previous posts from late yesterday and you can follow the 100 pip trade with comments and charts. I closed for just under 100 pips profit.

Any questions or comments are welcome.

Falller.
Attached Image (click to enlarge)
Click to Enlarge Name: Morning Chart.jpg Size: 182 KB
I don't trust any move - when you have profit...take it.
  • #289,449
  • Sep 23, 2011 7:18am Sep 23, 2011 7:18am
Quoting ovaforty
The big sell off will come Monday, bro...
Why do u thinkig about it this way ? Short TP were reached ... i think about a little consolidation or rebound
  • #289,450
  • Sep 23, 2011 7:20am Sep 23, 2011 7:20am
Well that seemed to go as planned. When gbp shows as being stronger than everything else - well you know something isn't right. Just play the same way as the bankers and you'll be on the rightside when the big move comes is my theory.
Market too choppy to give any long term move so just grab what you can.
  • #289,451
  • Sep 23, 2011 7:23am Sep 23, 2011 7:23am
The Daily chart Momentum Indicators began to show Divergence before the fact. It signalled a 5 sma retrace was coming before it happened.
Attached Image (click to enlarge)
Click to Enlarge Name: cable daily.gif Size: 19 KB
  • #289,452
  • Sep 23, 2011 7:24am Sep 23, 2011 7:24am
Quoting abrund
Why do u thinkig about it this way ? Short TP were reached ... i think about a little consolidation or rebound
It is a pattern following a big Thursday sell off.


Thursday = big sell off
Friday = choppy consolidation
Monday= market Capitulation
Tuesday= possible reversal of sentiment and relief rally.
Wednesday= risk appetite.

This is a pattern I teach my students.
It has happened many times in the past, but not guranteed, of course.
  • #289,453
  • Sep 23, 2011 7:35am Sep 23, 2011 7:35am
I am going to see Kissy Sell Out live with my sister soon! Can't wait. I mean, this guy mixes anything and everything... even classical music.

Music starts at 4:55... Enjoy!

Inserted Video


Have a good weekend all! See you all soon!
  • #289,454
  • Sep 23, 2011 7:38am Sep 23, 2011 7:38am
Out of interest an off topic......I also trade natural gas futures......I am seeing a little basing pattern on the 5 and 15 min charts......looking to take advantage of a little move up.

Can post a chart if anyone wants....but I know it is off topic.

Faller.
I don't trust any move - when you have profit...take it.
  • #289,455
  • Sep 23, 2011 7:43am Sep 23, 2011 7:43am
Quoting Faller
Out of interest an off topic......I also trade natural gas futures......I am seeing a little basing pattern on the 5 and 15 min charts......looking to take advantage of a little move up.

Can post a chart if anyone wants....but I know it is off topic.

Faller.
If you are off topic... I am well wide of the mark

Have a good 'un!
  • #289,456
  • Sep 23, 2011 7:43am Sep 23, 2011 7:43am
Here is a chart of the natural gas trade that I just took.....this is just for educational value. I know it has nothing to do with the british pound

Faller
Attached Image (click to enlarge)
Click to Enlarge Name: Natural Gas.jpg Size: 183 KB
I don't trust any move - when you have profit...take it.
  • #289,457
  • Sep 23, 2011 7:45am Sep 23, 2011 7:45am
cable is falling down to the 1.5415 level and then will probably raise up to the 1.5500 area... but we will see
Trade or not to trade - that is the question...
  • #289,458
  • Sep 23, 2011 7:56am Sep 23, 2011 7:56am
Quoting ovaforty
The Daily chart Momentum Indicators began to show Divergence before the fact. It signalled a 5 sma retrace was coming before it happened.
Thank you for your analysis bro.
  • #289,459
  • Sep 23, 2011 8:17am Sep 23, 2011 8:17am
Update from previous post re-natural gas. Chart with notes etc.....

Sorry this is off topic - just saw a move and wanted to share my knowledge. My apologies if it offends anyone.

That was a nice pop up in the pound - I think it has to do with Lagarde's comments.

Probably just sitting on hands the rest of the day.

Cheers to everyone.

Faller
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Natural Gas -2.jpg Size: 187 KB
Click to Enlarge Name: trading platform nat gas.png Size: 90 KB
I don't trust any move - when you have profit...take it.
  • #289,460
  • Sep 23, 2011 8:19am Sep 23, 2011 8:19am
Quoting bbakker
Hello there my friend! Are you still holding your longs? I have a couple of technical issues with the GU monthly chart and the trendline that you posted here.

1. Firstly, you have drawn the trendline to this month's candle which has not closed yet as we still have 7 days of trading before this candle closes. Never draw a trendline to a candle that has not closed yet.
2. Technically you should draw the trendline from the low at 1.3500 (Jan 2009) to the low at 1.4226 (May 2010) and this will give you the correct trendline.

From a fundamental point...
Hi bbaker,
thanks for joining your views.
Thinking about it (the fundamental part of it) and yes I see this too but it's a mess all over the world.
I might see GB coming out this faster being more flexible then Euro and US and as the panic is accelerating right now, this point could be nearer then we think.
A well I'm not a position trader so it doesn't bother me a lot but we are in such a financial turmoil that things can change very quickly....
Don't be a hero. Don't have an ego. Always question yourself
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