Cable Update (GBPUSD)

5350 by the end of the week ?


http://www.forexfactory.com/attachme...1&d=1321925315

go gbpusd go....hope take profit today...and then standby buy at 261.8...

QUICK TRADE UPDATE:

Market's sold off some more...it's now way too overextended

Having said that current levels (1.5515) would have been much more attractive for long entries...

I'm staying with the long position for now

CYA @ LDN

round number stuff 1.550000


had earlier entries too, all out


locked

Guys ideas how north it will go?

one of the best guides you have is to view how bearish or bullish cable is reacting to nearest supply levels, thats about it

I'm thinking weekly 618 retrace at 52

Waiting for retrace to jump in again

i see what you mean. but please could you go a little deeper and explain in details. just little =)


Thanks!

l am a bit busy just now for any kinda discussion, but just something to observe AS IT APPEARS @ THE MOMENT


ok, pole is south, one large candle down often refereed to as liquidity into a demand zone ........... how many candles did it take cable to get to supply?


after answering that .......... which way is momentum still?



( l have closed my buys for reasons you can clearly see )

Having little to do, I made the mistake of reading the opinions of the experts – that is, those paid a fortune by big money to analyse where price for a particular instrument will go. Bugger me, having looked at some of the predictions, I want a job, and reckon I could at the very least, match these predictions.

I mean, how hard is it to look at a long-term chart and place your bets? And of course, there is time a plenty for excuses to be made should price go the other way, and these days, all manner of fundamentals to blame the moves on.

Pathetic – and some of them have no idea of what is happening outside of a trading room – well, assuming that they are genuine traders, and not just bullshitting financial reporters. One prat was getting Barroso and Van Rompuy mixed up, and this commentator was from one of the better known propaganda sites. One wonders if they deliberately try to confuse the reader… government directed and all that.

Cholia – I’m not sure people here want to describe in detail any answers to your questions -may require a heavy investment in time - but many references can be found on the Internet, and which have been carefully prepared before submission to the on-line community… that is, double-checked in order to make sure that what they say is correct, and makes sense.

I would add that screen time once settled on a trading method is time well-served.

If you have no method as yet, pick out one or two traders to follow - Redsword11 being one of the sharper gentlemen in my opinion - and just analyze their charts and entry/exit explanations. Try to work it out for yourself, and the understanding becomes deeper. Learning by rote is not always the best way.

I would also recommend watching market open times, news releases in between these markets, and general trend/feel for PA. If you really want to screw your head over, follow me in the abyss that is fundamentals, but never believe a word these bastards tell you, instead, judge how much of a lie is being disseminated, and how the market will react to it.

Currently short @ 1.55245, SL is now at break even and 27 pips up, TP is at the next support level @ 1.5430, however if the price looks like its gonna bounce back up, i'll get out.

keep falling...

Hi everyone

Have not been around the last two weeks just put in my trades in the morning and then bussy for the rest of the day. The last 2 weeks has been good for me and today was another nice sell again. Will try to post my entries before the trades again from next week. My personal feeling is market will be retracing up from here first. But if my system tell me tommorow morning to sell i will be selling lol. Hoping everyone of you have a pip filled week.

Let us make allot of money from this market

Selling 5550-75 region, targeting 52ish

supply

Selling is good, t/p profit should be around 1.5390.

U.s Holiday w/e effectively begins tomorrow with the Thansgiving Bank Holiday, and a lot of traders likely taking Friday off too...low volumes likely going into the London afternoon tomorrow therefore but ahead of that - 0930am gmt sees the 2nd estimate of the Uk's Q3 GDP number - 1st estimate being +0.5%...any upside or downside revision is likely to see at least a knee-jerk gbpusd reaction. Although unlikely an upside revision of +0.2% or more could see some £ relief whereas any -0.2% or more downside revision could see some £ pressure. A smaller +/- 0.1% revision is more difficult to say, but in a bearish market -0.1% is likely to see a bigger reaction than +0.1 % ?

Time will tell,

G/L

in again, flag completes cycle

hello everyone.
i just came to forum to see what is a happening in GU and if it is time to close shorts or not...... i closed mine few minutes ago.
nice crash of 5540.50 support area as i can see.

good work in the thread, the move was not easy near 56 but many people got it

oh well, im in holiday so i really dont know what is happening out in market but.... i would be very careful before pick a buy in GU n EU with these daily setup!

be patient ... scalping excluded ...

will us dollar have a strong 2012? year ending with some strenghten coming out in usdx, maybe next year will go further! just my 2cents

good luck everyone