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Cable Update (GBPUSD)

  • #312,321
  • May 9, 2012 11:40am May 9, 2012 11:40am
Quoting longshort247
Closed short at 6075. Tech analysis maybe right, fake out north in progress will reverse to hunt for stops with a 6000 - 6050 floor before resuming march upwards for long term trend
Good day to you,

Well done on your short.

It may very well play out as you have broken it down.

All the best!

Regards
  • #312,322
  • May 9, 2012 11:41am May 9, 2012 11:41am
Quoting TauTrader
No doubt, looking at the chart - that the trend is down. I need to make it clear that I trade 5min to 30 min charts. For me, "longer term long" does not carry the same meaning as you would perceive it.

In any case - not confirmed yet. Will only act on confirmation.

I should be clearer. Thank you for that.

All success to you

Regards
i think fiber might retest its breakout point, preferably 1.3 level at most.. if it gets there, i would definitely trigger for short, atm i just stay sideline and wait for the reversal to happen..
  • #312,323
  • May 9, 2012 11:50am May 9, 2012 11:50am
Quoting TauTrader
Good day to you,

Well done on your short.

It may very well play out as you have broken it down.

All the best!

Regards

In the interest of full disclosure, not so good on my part because I was in the trade for 3 weeks with an adj. be of 6119. Time value of money cost me as well. All in all, not a great trade but happy to be out with my clothing intact Much gratitude to you TT, Navin, Bones and others who enrich this thread
  • #312,324
  • May 9, 2012 11:51am May 9, 2012 11:51am
Quoting A-speculator
i think fiber might retest its breakout point, preferably 1.3 level at most.. if it gets there, i would definitely trigger for short, atm i just stay sideline and wait for the reversal to happen..
Good day to you,

I was thinking a bit higher... but tomorrow will give me a better perspective, I think

Wish you well
  • #312,325
  • May 9, 2012 12:06pm May 9, 2012 12:06pm
Why the He.. is gold linked so closely with the Euro ?
A tech analysis report done on AUD links the movement of gold with aud - very closely (because lots of gold mines in aus)
NOW ..
Euro went down, gold went down.. 1589 , - and unsettling intil break 1600 again.
Now - Eur/usd is set to go to 1.2625 - maybe this week and maybe down to 1.2280.
then long term back up to 1.3486 resistance.

QUESTION - WILL GOLD FOLLOW THE EURO DOWN - if the above occurs?

GOLD
During last month, chief experts on gold were asked ; - and said - april/may tough for gold, then it will recover.
I checked one expert who has been right most times in last 10 years on gold .. said gold would shoot up to $2000 an ounce by end of june.
( I was seriously considering taking out a small "option" to buy gold 3 month option above $1700) .. its cheap and you dont have to buy if it doesnt work out. .


Other experts on gold say JUne following year may hit $2,000

Now if EUR is linked to GOLD - no matter what ... then its going down more in next 2 weeks

my question t you - is is linked so completely like that?

PS - the EUR move down , and if gold down - gold down will automatically push the USD up - ... and effect the GBP/USD pairP ... so maybe the downward spiral will be pushed/ completely indicated time wise by that.
VB
  • #312,326
  • May 9, 2012 12:07pm May 9, 2012 12:07pm
Quoting longshort247
In the interest of full disclosure, not so good on my part because I was in the trade for 3 weeks with an adj. be of 6119. Time value of money cost me as well. All in all, not a great trade but happy to be out with my clothing intact Much gratitude to you TT, Navin, Bones and others who enrich this thread
Good day to you,

Happy it ended well for you. Feather in your cap for being honest to yourself. By the way - Nav made your trade look like a scalp in terms of time-in-market on that one...

( Just kidding Nav -)

All success to you
  • #312,327
  • May 9, 2012 12:12pm May 9, 2012 12:12pm
Quoting TauTrader
Good day to you,

Happy it ended well for you. Feather in your cap for being honest to yourself. By the way - Nav made your trade look like a scalp in terms of time-in-market on that one...

( Just kidding Nav -)

All success to you
my trade makes everything look like a scalp..its a damn fact of life the way things are looking..

mr t

has the market gapped up..wtf!!
  • #312,328
  • May 9, 2012 12:12pm May 9, 2012 12:12pm
Quoting Vikingbarde
Why the He.. is gold linked so closely with the Euro ?
A tech analysis report done on AUD links the movement of gold with aud - very closely (because lots of gold mines in aus)
NOW ..
Euro went down, gold went down.. 1589 , - and unsettling intil break 1600 again.
Now - Eur/usd is set to go to 1.2625 - maybe this week and maybe down to 1.2280.
then long term back up to 1.3486 resistance.

QUESTION - WILL GOLD FOLLOW THE EURO DOWN - if the above occurs?

GOLD
During last month, chief experts on gold were asked ; - and said - april/may tough...
good day to you,

I'm stupid - will not be able to answer. I put it on record.

Actually to all here - if I do not respond to some questions whilst on the thread - it's not because i'm ignoring you. It's because I have no clue what you may be talking about.

Breaking now.. later

Regards
  • #312,329
  • May 9, 2012 12:14pm May 9, 2012 12:14pm
its very tempting to go long but it seems like the price broke some key support areas in this pair. In higher TF's it seems that the bottom has not been reached.

its a little hard and tricky now to identify the bottom point for a reversal in this pair.

Well, perhaps , to wait patiently would be the key. :-)
The market will deceive you. Make your own judgement.
  • #312,330
  • May 9, 2012 12:15pm May 9, 2012 12:15pm
Quoting nAVIN2007
my trade makes everything look like a scalp..its a damn fact of life the way things are looking..

mr t
Good day to you, sir

I'm in a glass house - so no judging allowed here. Irrespective of the outcome, you will be wiser - you will decide to change your style or continue with your current trading style.

Success only

Regards
  • #312,331
  • May 9, 2012 12:18pm May 9, 2012 12:18pm
might come back to test 1.6110?

See later
  • #312,332
  • May 9, 2012 12:21pm May 9, 2012 12:21pm
of 1.0080 (last time december 2011) next support 0.9964 ; 0.9860

If AUD is linked so closely with Gold .. swiss bank report says it is also (25 billion written off AUS stock exchange last weekend).

Then GOLD is definately going down, and we can all make money on that as well.

SO AUD - down (medium term)
EURO - down (medium term)
Gold - down -
USD - will always appreciate against falling gold - so several currency pairs .

( is gbp neutral or also appreciate against falling gold price - same as USD? )
I don't know that question !

VB
  • #312,333
  • May 9, 2012 12:28pm May 9, 2012 12:28pm
Quoting TauTrader
Good day to you, sir

I'm in a glass house - so no judging allowed here. Irrespective of the outcome, you will be wiser - you will decide to change your style or continue with your current trading style.

Success only

Regards

I will definitely change it..or perhaps try and be on the right side of it..that may help

so far..i completely missed it..one must keep it real
be lucky my friend
  • #312,334
  • May 9, 2012 12:35pm May 9, 2012 12:35pm
Quoting TauTrader
might come back to test 1.6110?

See later
Not now - it seems.
  • #312,335
  • May 9, 2012 12:35pm May 9, 2012 12:35pm
just noticed that ...
  • #312,336
  • May 9, 2012 12:40pm May 9, 2012 12:40pm
Quoting Vikingbarde
just noticed that ...

perfect.....caught the slide down early this morning and went out for the day was hoping for a nice retrace for the news that will come out tonight.....

hope everyone was on the side of the trade that they wanted to be on....

My bed is calling - zzzzzzzzzzzz time.

Faller.
I don't trust any move - when you have profit...take it.
  • #312,337
  • May 9, 2012 12:55pm May 9, 2012 12:55pm
Nice extended move back up - I would like to see a move up to 1.6165ish without really breaking that price area - if price does not break above I will look to be short.

If break above - well it is easy to go with a trend.
I don't trust any move - when you have profit...take it.
  • #312,338
  • May 9, 2012 12:56pm May 9, 2012 12:56pm
Closing the GU scalp here. 1.6150 area. No particular reason. Just gotta bank something..

Regards
Attached Image (click to enlarge)
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  • #312,339
  • May 9, 2012 1:22pm May 9, 2012 1:22pm
Good day to you,

Placing an EU long @ 1.2952 with 50 pip SL and leaving it for a few days or to stop me out. I'll be busy for the next 2 days so will not be able to scalp the market.

Going to bed. All the best for the remainder of the week.

Warm regards
  • #312,340
  • May 9, 2012 1:47pm May 9, 2012 1:47pm
Quoting TauTrader
Good day to you,

I was thinking a bit higher... but tomorrow will give me a better perspective, I think

Wish you well
i've checked all my charts in the past hour and i think i agree with you since the aussie is testing 1.0 price level. If that level hold, i think we might get more upside.. atm seems like the level will not break on the first test.

thanks for bringing this up, otherwise, i might miss it.
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