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Cable Update (GBPUSD)

  • #305,841
  • Apr 3, 2012 2:12am Apr 3, 2012 2:12am
Quoting Ill-b-back
He he, I had 5937-38 marked on my charts, I guess I need to change brokers
before going to that price, first we have to break the asc trendline first as in my previous post and don't forget the 6000 (psychological) and the 5950 level.
  • #305,842
  • Apr 3, 2012 2:15am Apr 3, 2012 2:15am
jumpy jumpy price action......
I don't trust any move - when you have profit...take it.
  • #305,843
  • Apr 3, 2012 2:17am Apr 3, 2012 2:17am
Quoting Allseeingeye
158 even 156 maybe 155 before we go back up.
don't get too excited targeting very far price from current PA before we break the asc trendline and the 6000 level..
  • #305,844
  • Apr 3, 2012 2:19am Apr 3, 2012 2:19am
Quoting A-speculator
mate. i'm trying to understand why are u still holding your hedged positions? why don't you just considered it to be a loss and recovered the loss on the next trading sessions?
I use a swing trading strategy on various timeframes. I will hold the hedged position until my system tells me we are heading for a reversal, so it is clear when I should exit my long. Then once (if), the planned swing plays out, I will ride it south until system says to go long again for a reverse, at which point I will exit my shorts. I am just being methodical since without my system, my analysis sucks and I don't trust my own judgement. I do trust my system however and it suggests a retrace. If it does retrace and I get a decent buy signal, I will think of exiting shorts and hold longs. Hard to tell right now, will have a much clearer picture at the time.
Come with me if you want to live....
  • #305,845
  • Apr 3, 2012 2:20am Apr 3, 2012 2:20am
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Attached Image (click to enlarge)
Click to Enlarge Name: pvj407c.gif Size: 22 KB
not euphoria follower
  • #305,846
  • Apr 3, 2012 2:22am Apr 3, 2012 2:22am
Quoting A-speculator
before going to that price, first we have to break the asc trendline first as in my previous post and don't forget the 6000 (psychological) and the 5950 level.
I know I am being a bit cheeky here, but I would have thought that mathematically, your above comment was obvious. I know what you mean bro
Come with me if you want to live....
  • #305,847
  • Apr 3, 2012 2:22am Apr 3, 2012 2:22am
Yesterday opened and closed at the same price (BST) and so a day of indecision. We are looking for more relevant news to make some ripples in this pond. We are still trading within the Asia range, and within yesterday's range.

Chart:

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd120403h1.gif Size: 24 KB


So no trading for me until we break out of the Asia range. Maybe when we get the construction manager's purchasing index in an hour? I'm not holding my breath as it has been flat for about two years.
Gone to a better place
  • #305,848
  • Apr 3, 2012 2:25am Apr 3, 2012 2:25am
People here forget that a big part of the equation is another currency........the opposite of the one that most people trade......it is also know as the Reserve Currency Of The World.
I don't trust any move - when you have profit...take it.
  • #305,849
  • Apr 3, 2012 2:26am Apr 3, 2012 2:26am
Quoting smikester
Yesterday opened and closed at the same price (BST) and so a day of indecision. We are looking for more relevant news to make some ripples in this pond. We are still trading within the Asia range, and within yesterday's range.

Chart:

Attachment

So no trading for me until we break out of the Asia range. Maybe when we get the construction manager's purchasing index in an hour? I'm not holding my breath as it has been flat for about two years.

actually pound fell strength wise which is great news because its still above 1.6..consolidation after a move up..USD is on the ropes and news isnt defined enough to create direction on it..this is why we not moving

both weak..

looking at the charts..it isnt to clear if this will drop because u can look at weekly and monthly candle printed, as bullish pins which (they can be) they have actually triggered..

  • #305,850
  • Apr 3, 2012 2:26am Apr 3, 2012 2:26am
Quoting iqyu5an
-

nice check mark....pin bar and happy to see that you look left on the chart.....

I don't trust any move - when you have profit...take it.
  • #305,851
  • Apr 3, 2012 2:27am Apr 3, 2012 2:27am
Quoting nAVIN2007
actually pound fell strength wise which is great news because its still above 1.6..consolidation after a move up..USD is on the ropes and news isnt defined enough to create direction on it..this is why we not moving

both weak..

looking at the charts..it isnt to clear if this will drop because u can look at weekly and monthly as bullish pins which have actually triggered..


exactly what I was saying one or two posts above......great words nAVIN
I don't trust any move - when you have profit...take it.
  • #305,852
  • Apr 3, 2012 2:28am Apr 3, 2012 2:28am
Quoting Faller
People here forget that a big part of the equation is another currency........the opposite of the one that most people trade......it is also know as the Reserve Currency Of The World.
Crikey bro, when I brought that up the other week you lost it on me
Come with me if you want to live....
  • #305,853
  • Apr 3, 2012 2:28am Apr 3, 2012 2:28am
Quoting Faller
jumpy jumpy price action......
On which time frame?
Gone to a better place
  • #305,854
  • Apr 3, 2012 2:29am Apr 3, 2012 2:29am
Quoting Ill-b-back
Crikey bro, when I brought that up the other week you lost it on me

please quote that post - if I did I am sorry....but please reference me back to what I said.....so that I can clear it up.
I don't trust any move - when you have profit...take it.
  • #305,855
  • Apr 3, 2012 2:30am Apr 3, 2012 2:30am
Quoting smikester
On which time frame?

5 min
I don't trust any move - when you have profit...take it.
  • #305,856
  • Apr 3, 2012 2:30am Apr 3, 2012 2:30am
Quoting Faller
exactly what I was saying one or two posts above......great words nAVIN
I see that bro!!..yes u are 100% correct in that there is another currency involved, man sometime u have to wonder what bought people to forex

what makes this a bit difficult to forecast for me at least is USD technical analysis..have printed many bear bars which simply have over turned and i aint holding my breath counting on it falling to quick (even if it does that, aint sure)

non farm around corner..

will we see..a potential " sell from a high" or no move till that day scenero..lol

is the question
  • #305,857
  • Apr 3, 2012 2:33am Apr 3, 2012 2:33am
Quoting Ill-b-back
I know I am being a bit cheeky here, but I would have thought that mathematically, your above comment was obvious. I know what you mean bro
yeah atm my position of shorting cable is considered as picking top position and still has yet to be validated. hopefully, today we can confirm of the down move by first breaking the accending TL first (minor confirmation) and get below 6000 and sustain below the said price (first major confirmation)..
  • #305,858
  • Apr 3, 2012 2:35am Apr 3, 2012 2:35am
Spain has a reported unemployment rate of almost 30%


and they project contraction in GDP in years to come.....

down euro down....

Spain is the Worlds 5th largest economy.
I don't trust any move - when you have profit...take it.
  • #305,859
  • Apr 3, 2012 2:36am Apr 3, 2012 2:36am
Yesterday was Pinocchio bar? waiting for construction PMI to be release.
  • #305,860
  • Apr 3, 2012 2:38am Apr 3, 2012 2:38am
now that the Olympic Construction Phase is over......watch the British construction PMI fall to the bowels of something very stinky.
I don't trust any move - when you have profit...take it.
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