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Cable Update (GBPUSD)

  • #313,181
  • May 15, 2012 6:34am May 15, 2012 6:34am
Quoting belekas
Riding the bear since last week with +100 pips atm and already scaled out a few times. Holding the rest on b/e+1. Already got a small long open today in case we get support bounce. Will load more shorts IF we break lower.)

katching katching
Scale out #3 for +140 pips. Katching katching
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  • #313,182
  • May 15, 2012 7:50am May 15, 2012 7:50am
Quoting Flynchenberg
Sell the pound.
Quoting nAVIN2007
no
Hello Brother,

This is my 1st post in this forum. Doing unsuccessful trade from last year and almost I lose $2500 till now. Then I still try to figure out my lack.

Now I'm doing good from last but can't figure out how long keep any trade. Now I'm selling g/u @ 1.6025 but don't know how long to keep this and when I need to buy this pair? What do you think?
  • #313,183
  • May 15, 2012 7:51am May 15, 2012 7:51am
I think 6000 will hold for a while at least i am expecting pullback around this level , looking for a buy right now
  • #313,184
  • May 15, 2012 8:38am May 15, 2012 8:38am
is it best time to buy GU now or still holding???
  • #313,185
  • May 15, 2012 8:40am May 15, 2012 8:40am
Good day to you,

Price has moved in below the 1.6021 level - April Open... we may be closing today @ 1.5989..

But I still have a little bull gutfeel.. I know . I know.

Going to watch mostly - but will run a little test trade on MA displacements I am busy with... gonna be a long... go figure...

Will use 50% of yesterday's gains as a tester. Entering here @ 1.6011 with a 40 pip stop

All success

Regards
  • #313,186
  • May 15, 2012 8:46am May 15, 2012 8:46am
Gbpusd 1.60 i would recommend not to buy unless theres a clear rejection!!! Otherwise you should be selling on pullback
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #313,187
  • May 15, 2012 8:47am May 15, 2012 8:47am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
TT going long...
Seems safe considering games in the uk and all the mess with eurozone...Only after august we will have the true nature of beast revealed..until then some up side and before tanking, they will do what they always do.....take it to extreme :-)

Quoting TauTrader
Good day to you,

Price has moved in below the 1.6021 level - April Open... we may be closing today @ 1.5989..

But I still have a little bull gutfeel.. I know . I know.

Going to watch mostly - but will run a little test trade on MA displacements I am busy with... gonna be a long... go figure...

Will use 50% of yesterday's gains as a tester. Entering here @ 1.6011 with a 40 pip stop

All success

Regards
  • #313,188
  • May 15, 2012 9:04am May 15, 2012 9:04am
Quoting ams
TT going long...
Seems safe considering games in the uk and all the mess with eurozone...Only after august we will have the true nature of beast revealed..until then some up side and before tanking, they will do what they always do.....take it to extreme :-)
Be careful they might actually want a weak gbp right before olympics just so they can sell more....
Problem is no body really knows what the banks want to do...
Would they want a high pound before olympics to gain more bucks for themselves and risk further uk economic crisis or do they want a low pound before olympics to stimulate sales through attracting tourist purchases in the expense of a lower bonus for the quarter??
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #313,189
  • May 15, 2012 9:16am May 15, 2012 9:16am
Quoting ams
TT going long...
Seems safe considering games in the uk and all the mess with eurozone...Only after august we will have the true nature of beast revealed..until then some up side and before tanking, they will do what they always do.....take it to extreme :-)
Good day to you, AMS

I'm only testing here... Hurst /Gann both of these gentlemen had something going for them. Time. Cycles.

So - the very basis of Hurst is the displacement of certain Moving Averages to indicate possible highs/lows and profit targets. I am no programmer, but I am battling it out with some concepts to attempt to get to a point.

No more fun than testing things live

I will probably get stopped out - but it does not curb my enthusiasm at all.

I wish you success

Regards
  • #313,190
  • May 15, 2012 9:18am May 15, 2012 9:18am
we are close to upper trendline , i am expecting rejection here if sellers let her go upp damnn.. long at 6020
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  • #313,191
  • May 15, 2012 9:30am May 15, 2012 9:30am
Quoting fxshinobi
we are close to upper trendline , i am expecting rejection here if sellers let her go upp damnn.. long at 6020
ascending daily trend line is indeed close and perhaps for some no doubt already hit at the current daily lo (depending on how you draw it)...that low is in the previous 4hr swing lo zone running down to 6008

G/L
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ex member
  • #313,192
  • May 15, 2012 9:38am May 15, 2012 9:38am
Quoting bguguen
Be careful they might actually want a weak gbp right before olympics just so they can sell more....
Problem is no body really knows what the banks want to do...
Would they want a high pound before olympics to gain more bucks for themselves and risk further uk economic crisis or do they want a low pound before olympics to stimulate sales through attracting tourist purchases in the expense of a lower bonus for the quarter??

all respect for ur words here
  • #313,193
  • May 15, 2012 10:03am May 15, 2012 10:03am




Longman is waiting @ 1.599









Patterns have an underlying mathematical structure.
  • #313,194
  • May 15, 2012 10:11am May 15, 2012 10:11am
goto Olympics, (months before) bought access tickets, or even black market ones, - theyre gonna go no matter what.
The olympics give a huge opportunity to have a high Pound, and make a lot of money. I think the banks - worldwide, have figured in the quantities, and bought in bulk, - and will profit closer to the event - especially if the GBP goes up - they know a couple of million people are gonna be queing at the banks for currency .. theyre time to rake it in if they bought on the cheap, GBP goes up, - sell to tourists - make double the money.

Can anyone check what happened at the last 1 or 2 olympics ?
thats the best way .. ie home turf currencies - what the trends were before during and after the event .. that could be very valuable information - if the same thing happened to the home turf currewncies before !
I'm new at this - so dont know wher eto get the history information - anyone ?
VB
  • #313,195
  • May 15, 2012 10:25am May 15, 2012 10:25am
Quoting Vikingbarde
goto Olympics, (months before) bought access tickets, or even black market ones, - theyre gonna go no matter what.
The olympics give a huge opportunity to have a high Pound, and make a lot of money. I think the banks - worldwide, have figured in the quantities, and bought in bulk, - and will profit closer to the event - especially if the GBP goes up - they know a couple of million people are gonna be queing at the banks for currency .. theyre time to rake it in if they bought on the cheap, GBP goes up, - sell to tourists - make double the money.

[b]Can...
hello!
i did... nothing so much reliable since last events where in australia, china, usa and europe.
chines yuan was not floating currency.
australian dollar was in uptrend already.
usa and europe, imo, have too big flows to do a good comparison.
furthermore is not that easy to understand the amount of money flows due to this event. how many people? how much money will they spend prior and during the event?
it's a very complex thing! as soon as you find 1 answer to 1 question, 10 new questions come, and so in the end you see that it's impossible for us to give something for "sure".

all this said:
i agree that more strenght in GBP came also due to the event, and will lose after the event finish (some weeks). but giving the strenght a value, let's say 10, i think 3 is due to the olympics and 7 due to other more important things.

hope i answered
90% of traders use TA, indicators and prediction
  • #313,196
  • May 15, 2012 10:31am May 15, 2012 10:31am
Quoting _BBKing_
hello!
i did... nothing so much reliable since last events where in australia, china, usa and europe.
chines yuan was not floating currency.
australian dollar was in uptrend already.
usa and europe, imo, have too big flows to do a good comparison.
furthermore is not that easy to understand the amount of money flows due to this event. how many people? how much money will they spend prior and during the event?
it's a very complex thing! as soon as you find 1 answer to 1 question, 10 new questions come, and so in the end you see that it's impossible...
I love ur last phrases 7-3 3 parts olympics and 7 part what i wonder... 7 part central bank purchases even if its bad news central proping their currencies up just because they feel like it amd look what happened to the economy...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #313,197
  • May 15, 2012 10:42am May 15, 2012 10:42am
I see a huge potential rally in cable - nAVIN what was your target? 1.65?


Interesting weird price action - thinking.......hmmmm thinking some more.
I don't trust any move - when you have profit...take it.
  • #313,198
  • May 15, 2012 10:45am May 15, 2012 10:45am
Think of things this way......Euro Zone had 0% GDP.....UK currently in a technical recession - if this is the bottom of the economies.......and things should only get better from here......hmmmmm.....just a thought.

Faller.
I don't trust any move - when you have profit...take it.
  • #313,199
  • May 15, 2012 10:55am May 15, 2012 10:55am
Quoting Faller
I see a huge potential rally in cable - nAVIN what was your target? 1.65?


Interesting weird price action - thinking.......hmmmm thinking some more.

i bought again at this level.. looking for it to find support..but i dont think its the bottom..im just averaging down my position lightly

at this point i see nothing in it for reversal..
best case scenero for me right now is retest of 1.63
  • #313,200
  • May 15, 2012 10:59am May 15, 2012 10:59am
Quoting bguguen
I love ur last phrases 7-3 3 parts olympics and 7 part what i wonder... 7 part central bank purchases even if its bad news central proping their currencies up just because they feel like it amd look what happened to the economy...

it has nothing to do with anything.except its in the charts..like when it goes up..its in the chart..right now its fall, pound fell from a point which was completely technical..
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