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Cable Update (GBPUSD)

  • #309,281
  • Apr 22, 2012 7:07am Apr 22, 2012 7:07am
Hi guys, what are your sentiments for the pound this coming week? Bull or bear?
  • #309,282
  • Apr 22, 2012 8:05am Apr 22, 2012 8:05am
Good day to you,

On a shorter timeframe ( 5 min ) - I am of the opinion that we have started sqeezing ( as from around 1.6070)

So busy forming a short term bull trap. No one knows how high they will be driving price on this current leg up - but I have started shorting to take advantage of what I believe could become a profitable short.

Please remember that this is on the 5min - so I am not saying price is reversing. Just pointing out what I am going to trade for the next few sessions.

All the best for the coming week

Regards
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  • #309,283
  • Apr 22, 2012 8:08am Apr 22, 2012 8:08am
Quoting TauTrader
Good day to you,

On a shorter timeframe ( 5 min ) - I am of the opinion that we have started sqeezing ( as from around 1.6070)

So busy forming a short term bull trap. No one knows how high they will be driving price on this current leg up - but I have started shorting to take advantage of what I believe could become a profitable short.

Please remember that this is on the 5min - so I am not saying price is reversing. Just pointing out what I am going to trade for the next few sessions.

All the best for the coming week

Regards
looking for a good safe place in cape town, any suggestion, i have about 14 million rand to spend, thats about 2 million usd
  • #309,284
  • Apr 22, 2012 8:32am Apr 22, 2012 8:32am
Quoting nAVIN2007
I personally think whether has been great considering time of year..hasnt been the best with rain this week but it has been bright the weeks b4..definately people would have been happier and women likely to shop more

it can come in good and market definitely shaping up for a positive result
Seriously?? dude the weather in London is terrible.... where on earth are you to get the good weather??
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #309,285
  • Apr 22, 2012 9:02am Apr 22, 2012 9:02am
Quoting TauTrader
Good day to you,

On a shorter timeframe ( 5 min ) - I am of the opinion that we have started sqeezing ( as from around 1.6070)

So busy forming a short term bull trap. No one knows how high they will be driving price on this current leg up - but I have started shorting to take advantage of what I believe could become a profitable short.

Please remember that this is on the 5min - so I am not saying price is reversing. Just pointing out what I am going to trade for the next few sessions.

All the best for the coming week

Regards
Good day to you

and

I love you...r...


Chart


Regards
If there was easy money lying around,no one would be forcing it into your
  • #309,286
  • Apr 22, 2012 9:41am Apr 22, 2012 9:41am
Quoting bguguen
Seriously?? dude the weather in London is terrible.... where on earth are you to get the good weather??
U realise i live in london?..i suppose this is also relative but the winter has been mild..when u compare it to previous years..at least for me
  • #309,287
  • Apr 22, 2012 9:48am Apr 22, 2012 9:48am
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Hero calls followed by margin calls...
  • #309,288
  • Apr 22, 2012 10:36am Apr 22, 2012 10:36am
Quoting PhAnTi'
Attachment

im in short from last week
i know we eventually will be together
  • #309,289
  • Apr 22, 2012 10:47am Apr 22, 2012 10:47am
are we in wave 3 of EW ? if yes.......when we will start for wave 4 ?
not euphoria follower
  • #309,290
  • Apr 22, 2012 11:44am Apr 22, 2012 11:44am
as a butterfly is forming on the daily i vote for an abc wave not a 5 wave sequence up

abc might end at recent high or at .624 area

if i am wrong and it is 5 wave sequence it can go up to .652 area
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  • #309,291
  • Apr 22, 2012 2:04pm Apr 22, 2012 2:04pm
EURUSD thread is quite active.....is the Cable Update still sleeping ?
  • #309,292
  • Apr 22, 2012 2:39pm Apr 22, 2012 2:39pm
Quoting torkay77
as a butterfly is forming on the daily i vote for an abc wave not a 5 wave sequence up

abc might end at recent high or at .624 area

if i am wrong and it is 5 wave sequence it can go up to .652 area
or it might be head and shoulders in progress
  • #309,293
  • Apr 22, 2012 2:56pm Apr 22, 2012 2:56pm
just an update:
i will delete my pending short limit order @6230 at market opening.
reason: price will go higher.

good luck
byebye
90% of traders use TA, indicators and prediction
  • #309,294
  • Apr 22, 2012 2:57pm Apr 22, 2012 2:57pm
Quoting torex
EURUSD thread is quite active.....is the Cable Update still sleeping ?
EURO has more work to do this week than GBP and correct his crosspairs before end of the month.
that could be te reason.
good luck
byebye
90% of traders use TA, indicators and prediction
  • #309,295
  • Apr 22, 2012 3:13pm Apr 22, 2012 3:13pm
Quoting _BBKing_
just an update:
i will delete my pending short limit order @6230 at market opening.
reason: price will go higher.

good luck
byebye

  • #309,296
  • Apr 22, 2012 3:19pm Apr 22, 2012 3:19pm
Quoting _BBKing_
just an update:
i will delete my pending short limit order @6230 at market opening.
reason: price will go higher.

good luck
byebye
You are in panic mode.PA has not even reached 6200 and you already decided to cancel your short.
It could actually go south without reaching 6200 thus your pending order is irrelevant.
In trading, you have to be defensive and aggressive at the same time
  • #309,297
  • Apr 22, 2012 3:25pm Apr 22, 2012 3:25pm
I think good result of Holland on French elections will drag eurusd for day or two down. That will affect also cable, so I think there will be retrace at least to 1,60.
  • #309,298
  • Apr 22, 2012 3:25pm Apr 22, 2012 3:25pm
Quoting Davit
You are in panic mode.PA has not even reached 6200 and you already decided to cancel your short.
It could actually go south without reaching 6200 thus your pending order is irrelevant.
panic mode?
ahahaha

anyway i wrote it down not very clearly.

i will delete my pending short order @6230. because if price goes there, will go higher.

i hope now it's clear!
90% of traders use TA, indicators and prediction
  • #309,299
  • Apr 22, 2012 3:30pm Apr 22, 2012 3:30pm
Quoting perisher
I think good result of Holland on French elections will drag eurusd for day or two down. That will affect also cable, so I think there will be retrace at least to 1,60.
it's better not to think.
because in that case i think that if the GDP data will be good enough, price will take the space shuttle and i think will be a massacre in GU bears.
about french elections and EU, i think a new one in the place of sarkozo can be only bullish in the euro.

anyway must stop thinking.

let thinking to those who have time to think like all guru around websites predicting the future based in signs into an empty cup of coffee.
90% of traders use TA, indicators and prediction
  • #309,300
  • Apr 22, 2012 3:33pm Apr 22, 2012 3:33pm
As I am already Short on this pair at 1.613 for a retrace i just wanted to share some insight. im still new so might be completely off on this but....

Last week I had been eying price movement on this one quite diligently the momentum slipped significantly (relative to what it has been) after the 1.607 area.

The reason of my entry was technicals suggesting a high probability retrace even though on the longer term side they are suggesting an uptrend. Did not base this on PA.

I usually stay out of such uncertain trades and just watch. however what amused me was that in the last half hour before week close on friday the price shot up from 1.611 to 1.614(breaking its weekly high) to close at 1.613. It seemed more like stop hunting to me before it retraces. I kept my position open as i do think there's a bull trap around in this area.

Best,
H
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