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Cable Update (GBPUSD)

  • #313,061
  • May 14, 2012 3:58pm May 14, 2012 3:58pm
Closed my GBPUSD short for a small profit friday.
Would be a loss currently.
I still want to sell the Pound based on it being Overbought.

We all know how we felt about the Yen Feb-Apr
Had very high velocity and ALOT of dip buyers at 83.5,83,82.5,82....expecting a quick flip to 85 and on to 90

Well i have a feeling GBPUSD may be a trade I ended to soon.
But I am now Short GBPAUD

It looks very overbought. My 1 hour chart is a line straight up.
So is the 4 hour
So is the daily.

A good entry for a carry. Its going to volatile.
Depending how long this trade lasts, I could hold this throughout 2012
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpaud1.gif Size: 22 KB
  • #313,062
  • May 14, 2012 4:47pm May 14, 2012 4:47pm
usd lfx h4


Quoting Bones
@ Nav
Attached Image (click to enlarge)
Click to Enlarge Name: usd lfx h1 14-512 2.gif Size: 20 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #313,063
  • May 14, 2012 4:51pm May 14, 2012 4:51pm
You are right tony I think


Quoting Bones
Eur on the other hand ,

$ up Eur not up
Attached Image (click to enlarge)
Click to Enlarge Name: eur lfx d1 14-512 2.gif Size: 13 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #313,064
  • May 14, 2012 4:54pm May 14, 2012 4:54pm
Quoting RideTheWave
Closed my GBPUSD short for a small profit friday.
Would be a loss currently.
I still want to sell the Pound based on it being Overbought.

We all know how we felt about the Yen Feb-Apr
Had very high velocity and ALOT of dip buyers at 83.5,83,82.5,82....expecting a quick flip to 85 and on to 90

Well i have a feeling GBPUSD may be a trade I ended to soon.
But I am now Short GBPAUD

It looks very overbought. My 1 hour chart is a line straight up.
So is the 4 hour
So is the daily.

A good entry for a carry. Its going to volatile.
Depending...
GBPAUD from 1.634 and GBPNZD from 2.1 that should be surefire trades
  • #313,065
  • May 14, 2012 6:41pm May 14, 2012 6:41pm
Quoting torkay77
GBPAUD from 1.634 and GBPNZD from 2.1 that should be surefire trades
MBT doesnt have GBPNZD

i usually get burned first on the top pickings
  • #313,066
  • May 14, 2012 11:04pm May 14, 2012 11:04pm
today seems like a silence day..
  • #313,067
  • May 14, 2012 11:06pm May 14, 2012 11:06pm
perhaps everyone is in profit, so nothing to talk about.. oh well..
  • #313,068
  • May 14, 2012 11:08pm May 14, 2012 11:08pm
Quoting A-speculator
perhaps everyone is in profit, so nothing to talk about.. oh well..

I think this forum is slowly fading away......many people do not care to post anymore......
I don't trust any move - when you have profit...take it.
  • #313,069
  • May 14, 2012 11:10pm May 14, 2012 11:10pm
Quoting Faller
I think this forum is slowly fading away......many people do not care to post anymore......
perhaps of the slow moving cable lately, this forum has less visitor.. many might has moved on trading other pairs, i think..

anyway, what's your take? mine is as yesterday, nothing's change..
  • #313,070
  • May 14, 2012 11:15pm May 14, 2012 11:15pm
Quoting A-speculator
perhaps of the slow moving cable lately, this forum has less visitor.. many might has moved on trading other pairs, i think..

anyway, what's your take? mine is as yesterday, nothing's change..

My take is not very much......last night I stayed up all night....till 7AM - had a little trade for profit that I closed earlier in the night......only to watch price NOT MOVE AT ALL......I go to bed around 7AM and boom price moves..........so will it move can it move.....when will it move......I am at a loss here......Just reading some articles and watching some charts......it is boring.
I don't trust any move - when you have profit...take it.
  • #313,071
  • May 14, 2012 11:20pm May 14, 2012 11:20pm
Quoting Faller
My take is not very much......last night I stayed up all night....till 7AM - had a little trade for profit that I closed earlier in the night......only to watch price NOT MOVE AT ALL......I go to bed around 7AM and boom price moves..........so will it move can it move.....when will it move......I am at a loss here......Just reading some articles and watching some charts......it is boring.
my take is, atm cable might have made a bottom (i cannot be sure if it is short-term bottom or midterm bottom) but since the uptrust is not significant enough.. i stay sideline for the time being.. until active trading activities seen again on cable..

as long as 6060 hold, i think there's more bullish side..

i currently only have ucad and it's really like watching paint dry to see the pair closed below 1.0020 as the first confirmation on the move towards 1.0 area..
  • #313,072
  • May 14, 2012 11:23pm May 14, 2012 11:23pm
i am still holding short.Price hasn't closed above the open price of previous bearish bar on daily chart.I will hold untill price close above previous bearish bar open.

Happy trading guys.I know there is no movement but wait for the breakout to happen may be when UK or us session opens.

Cheers
prakash
I am a hunter...i kill both bulls and bears...
  • #313,073
  • May 14, 2012 11:27pm May 14, 2012 11:27pm
Quoting oathbreaker
i am still holding short.Price hasn't closed above the open price of previous bearish bar on daily chart.I will hold untill price close above previous bearish bar open.

Happy trading guys.I know there is no movement but wait for the breakout to happen may be when UK or us session opens.

Cheers
prakash
I'm short also with the close beneath 61. TP 60.
Come with me if you want to live....
  • #313,074
  • May 14, 2012 11:27pm May 14, 2012 11:27pm
Quoting oathbreaker
i am still holding short.Price hasn't closed above the open price of previous bearish bar on daily chart.I will hold untill price close above previous bearish bar open.

Happy trading guys.I know there is no movement but wait for the breakout to happen may be when UK or us session opens.

Cheers
prakash
from 4h candle movement, i think after the long bullish candle, price only retrace to the high of the previous candles, price atm unable to cover the bullish candle and that is not bearish.. we might see price above 6115 today imho.
  • #313,075
  • May 14, 2012 11:27pm May 14, 2012 11:27pm
Quoting oathbreaker
i am still holding short.Price hasn't closed above the open price of previous bearish bar on daily chart.I will hold untill price close above previous bearish bar open.

Happy trading guys.I know there is no movement but wait for the breakout to happen may be when UK or us session opens.

Cheers
prakash

interesting take....
I don't trust any move - when you have profit...take it.
  • #313,076
  • May 15, 2012 1:07am May 15, 2012 1:07am
I hope that the 4h descending chanel will work as a hard resistance and the Cable can go down. I am still holding shorts
"Study the past if you would define the future." Confucius
  • #313,077
  • May 15, 2012 1:09am May 15, 2012 1:09am
Quoting littlemole
I hope that the 4h descending chanel will work as a hard resistance and the Cable can go down. I am still holding shorts
me too... lets pray...
  • #313,078
  • May 15, 2012 1:13am May 15, 2012 1:13am
Quoting littlemole
I hope that the 4h descending chanel will work as a hard resistance and the Cable can go down. I am still holding shorts

Quoting mycr0ft
me too... lets pray...

You could sell some more to average your position - or you could close and take the loss and re-enter later......or you can "hope" and "pray" -

Good luck with the position -

Faller
I don't trust any move - when you have profit...take it.
  • #313,079
  • May 15, 2012 1:15am May 15, 2012 1:15am
at last, ucad is moving.. atm seems like fiber finds support at about 2825 and cable at 6060 as we discussed earlier..

next for cable imho once we get 4h closed above the 6115, cable will move to about 6200 resistance level.

hope everyone get the move.
  • #313,080
  • May 15, 2012 1:17am May 15, 2012 1:17am
Quoting A-speculator
at last, ucad is moving.. atm seems like fiber finds support at about 2825 and cable at 6060 as we discussed earlier..

next for cable imho once we get 4h closed above the 6115, cable will move to about 6200 resistance level.

hope everyone get the move.

nah missed the move....I was hungry it is 2am here.....so I went and BBQ'd up a cheese sausage!!!!
I don't trust any move - when you have profit...take it.
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