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Cable Update (GBPUSD)

  • #295,881
  • Dec 28, 2011 10:57am Dec 28, 2011 10:57am
will buiy heavy around 5400 with stops below 5330.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.jpg Size: 136 KB
Hero calls followed by margin calls...
  • #295,882
  • Dec 28, 2011 10:58am Dec 28, 2011 10:58am
Daily close at 5474 may serve for some good pullback otherwise scarry , may push more down before real pb .so keeping target 5423 as before .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #295,883
  • Edited 11:20am Dec 28, 2011 11:06am | Edited 11:20am
Quoting bumapatria
in with u bro.

im thinking 96. for long term

or at least at that trendline
am scaling out from 99 down to TP 97.80. perhaps will re-enter later below MPP 97.50.


Lol.. I zoomed in your chart and its like entering a discotheque hall.. hehe kidding.
  • #295,884
  • Dec 28, 2011 11:10am Dec 28, 2011 11:10am
do you guys notice that the cable r ending at the same spot it begun this year... what a year...
  • #295,885
  • Dec 28, 2011 12:59pm Dec 28, 2011 12:59pm
cheaking eu & may to prepare one more tanking there next day & similarly gu also towards 5288 to 5090 just difference can be gu may not completed the wave down still towards 5423 or so before the possible correction with limit goes to 5580 before the tanking or so .
fontu

http://www.forexfactory.com/showthre...92#post5251992
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #295,886
  • Dec 28, 2011 1:42pm Dec 28, 2011 1:42pm
surprised to see the sell off today ..what the hell happened?? to cause this any1 know and wanna explain why gbp sold off

thanks if someone can
  • #295,887
  • Dec 28, 2011 1:49pm Dec 28, 2011 1:49pm
Quoting GlobalMacro
Good Day,

Cable's working her way within a triangle,

bouncing off the UTL running stops in early European session

washing out weak shorts.


Meanwhile, she's back trading in the center @ 1.5646 after

bouncing off the DTL.


I'm continuing to maintain my short position .
So far so good...

Market has proved me being right for having a bearish view indeed...Cable finally broke down out of the triangle after testing the DTL and washing out those weak shorts dropping more than 200 pips

Now she's being in a precarious position right now, having dropped as far as she has...poses a new question:
Is she overextended or just begun her downmove?
At this moment, there is no justification for any contrarian view as she is extremely heavy.

Which leaves me with the task of pinpointing a short reentry point...

Will report back as soon as I have an answer.

GM
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_H8.gif Size: 17 KB
Hear the music before the song is over ...
  • #295,888
  • Dec 28, 2011 1:59pm Dec 28, 2011 1:59pm
Quoting nAVIN2007
surprised to see the sell off today ..what the hell happened?? to cause this any1 know and wanna explain why gbp sold off

thanks if someone can
Heavy gold sales to shore up govt funds would have helped I would imagine.
Come with me if you want to live....
  • #295,889
  • Dec 28, 2011 2:37pm Dec 28, 2011 2:37pm
Quoting GlobalMacro
So far so good...

Market has proved me being right for having a bearish view indeed...Cable finally broke down out of the triangle after testing the DTL and washing out those weak shorts dropping more than 200 pips

Now she's being in a precarious position right now, having dropped as far as she has...poses a new question:
Is she overextended or just begun her downmove?
At this moment, there is no justification for any contrarian view as she is extremely heavy.

Which leaves me with the task of pinpointing a short reentry point...

Will report...
Alright I've reached a conclusion...the triangle breakdown looks very heavy and steady and bearish momentum strong.

I am selling here @ 1.5450
Hear the music before the song is over ...
  • #295,890
  • Dec 28, 2011 2:41pm Dec 28, 2011 2:41pm
so far look like i be buying back up into 1.6600 area. good luck to all
  • #295,891
  • Dec 28, 2011 3:02pm Dec 28, 2011 3:02pm
Quoting PoundTrader
so far look like i be buying back up into 1.6600 area. good luck to all
Come with me if you want to live....
  • #295,892
  • Dec 28, 2011 3:03pm Dec 28, 2011 3:03pm
Quoting PoundTrader
so far look like i be buying back up into 1.6600 area. good luck to all

Same program here - very over extended move today. All because ECB is expanding their balance sheet????? WTF? Look at the USA's balance sheet.

Hope all had a good day.
I don't trust any move - when you have profit...take it.
  • #295,893
  • Dec 28, 2011 3:04pm Dec 28, 2011 3:04pm
Quoting GlobalMacro
Alright I've reached a conclusion...the triangle breakdown looks very heavy and steady and bearish momentum strong.

I am selling here @ 1.5450
Doesn't sound like the right timing to sell now, with NY just closing
New voice message: Why are you calling me? If I need you, I'll call you!
  • #295,894
  • Dec 28, 2011 3:04pm Dec 28, 2011 3:04pm
Quoting Faller
Same program here - very over extended move today. All because ECB is expanding their balance sheet????? WTF? Look at the USA's balance sheet.

Hope all had a good day.
do we really see a reverse just yet or a continued fall?????
  • #295,895
  • Dec 28, 2011 3:10pm Dec 28, 2011 3:10pm
Quoting GB_Trader
do we really see a reverse just yet or a continued fall?????

I am not looking for a 200 pip reversal - I trade the British Pound Futures which are highly leveraged - so all I am looking at and for is a 30 to 40 pip retrace.....most financial instruments do not go straight down or straight up.....there are always trades in between movements.

Cheers.

Faller.
I don't trust any move - when you have profit...take it.
  • #295,896
  • Dec 28, 2011 3:12pm Dec 28, 2011 3:12pm
Quoting KillerWhale
Doesn't sound like the right timing to sell now, with NY just closing

agree on that comment - but we all have our trading strategy. I still can't get over that huge fall - unless there is something I am missing......there was a gap on the front month futures contract which after today has been filled.....the daily chart is still showing range bound between 1.5400 and 1.5700 since the middle of November.....jack be nibble jack be quick - jack don't fall on that candlestick......

Cheers,

Faller
I don't trust any move - when you have profit...take it.
  • #295,897
  • Dec 28, 2011 3:17pm Dec 28, 2011 3:17pm
Quoting PoundTrader
so far look like i be buying back up into 1.6600 area. good luck to all

man u really are something huh..
lovely to see ya back man!!
  • #295,898
  • Dec 28, 2011 3:18pm Dec 28, 2011 3:18pm
Quoting Ill-b-back
  • #295,899
  • Dec 28, 2011 3:19pm Dec 28, 2011 3:19pm
Quoting Faller
agree on that comment - but we all have our trading strategy. I still can't get over that huge fall - unless there is something I am missing......there was a gap on the front month futures contract which after today has been filled.....the daily chart is still showing range bound between 1.5400 and 1.5700 since the middle of November.....jack be nibble jack be quick - jack don't fall on that candlestick......

Cheers,

Faller

i will not be surprised if this move corrects back up..we also pretty much formed the trendline touch on gold..i feel that had to happen..if this happens nothing will have changed monthly needs to be a doji at this stage
Attached Image (click to enlarge)
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  • #295,900
  • Dec 28, 2011 3:23pm Dec 28, 2011 3:23pm
traders need to stop looking for a trend and start looking for a range, market range 99% of the time daily, trend only happens very long term, likes months and years
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