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Cable Update (GBPUSD)

  • #316,441
  • Jun 15, 2012 3:30am Jun 15, 2012 3:30am
today I'm out of trading.it will be either a messy day ahead of the elections and the rest or a very slow day.....
don't intend to leave any trades on the board for the weekend.

GU levels to watch today are 1.5470 as S and decent buy zone

1.5433-40 and 1.5394-1.5410 where important buyers are lined up

both 1.5433 and 1.5394 are fibo targets as in 50% and 61.8% and as you can see from the chart 38.2% was touched and bounced a few times....

I only have a pending buy @ 1.5400 just in case...

p.s. we are under the up trendline and it was tested 2 times but did not close above so probably we're still heading lower
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  • #316,442
  • Jun 15, 2012 3:43am Jun 15, 2012 3:43am
Quoting Ill-b-back
It's a ranging market, pivot to pivot
5521 last 5min high if it doesn't get past 5523 this time I will take whatever pips are in the trade and look for a new one. Not that there is much around apart from a few scalps.
  • #316,443
  • Jun 15, 2012 3:49am Jun 15, 2012 3:49am
Spectacularly bad trade balance 16% worse than the estimate and this pair starts crawling higher -- madness.

I also don't understand why trade volume is so light already. I can understand abandoning positions at the end of trading tomorrow rather than hold them over the weekend, but why now when that's still many hours away?
You can always make money tomorrow provided you don't lose it today.
  • #316,444
  • Jun 15, 2012 3:59am Jun 15, 2012 3:59am
Quoting Kadc
Spectacularly bad trade balance 16% worse than the estimate and this pair starts crawling higher -- madness.

I also don't understand why trade volume is so light already. I can understand abandoning positions at the end of trading tomorrow rather than hold them over the weekend, but why now when that's still many hours away?
Good day to you,

Bad number was priced in on the previous 1hr bar... Bear trap needed to form - news was used to create.

Just my opinion.

Regards
  • #316,445
  • Jun 15, 2012 3:59am Jun 15, 2012 3:59am
Quoting id5
5521 last 5min high if it doesn't get past 5523 this time I will take whatever pips are in the trade and look for a new one. Not that there is much around apart from a few scalps.
Out at DP, better some safe pips than risk them.
  • #316,446
  • Jun 15, 2012 3:59am Jun 15, 2012 3:59am
Target for cable still is 1.5700, but if 1.5600 remains unbreached at end of todays session then im reviewing my target higher to 1.5800
The only way not to think about money is to have a great deal of it
  • #316,447
  • Jun 15, 2012 4:12am Jun 15, 2012 4:12am
Quoting TauTrader
Good day to you,

Does not look too good here. Added 1.5510 and 1.5490. BE sits at 1.5515
Good day,

closed the "weak" 1.5540 entry at +2.

1.5510 and 1.5490 remains open.

Regards
  • #316,448
  • Jun 15, 2012 4:24am Jun 15, 2012 4:24am
Quoting PoundTrader
i went long at 1.5542, s/l 1.5500, t/p 1.5620
rhis shit ain't funny
  • #316,449
  • Jun 15, 2012 4:25am Jun 15, 2012 4:25am
G/M

Bullish hammer candle on the Daily yesterday which followed the inverted hammer candle (bearish body) the day before on same t/f. Today so far a dip down to the previous 4hr/1hr swing lo zone created by yesterday's low and demand found there with a strong bounce up-2 x fibs there too.

4hr/1hr remain rangy re opa between 5599-5402, the immediate 1hr range being between 5597 and 5472-yesterday's Lo.

G/L
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ex member
  • #316,450
  • Jun 15, 2012 4:25am Jun 15, 2012 4:25am
Quoting Ill-b-back
It's a ranging market, pivot to pivot
true, now im minus about -23 pips for the week, messing around in this ranging market
  • #316,451
  • Jun 15, 2012 4:32am Jun 15, 2012 4:32am
Closing all. Gotta out out for a while.

Regards
  • #316,452
  • Jun 15, 2012 4:36am Jun 15, 2012 4:36am
Quoting PoundTrader
true, now im minus about -23 pips for the week, messing around in this ranging market

the other day you said that you were going to take your $2300 and run cuz it was a good week..........WTF did u DO!?!?!?!?!?!??!?!?!?!?!
I don't trust any move - when you have profit...take it.
  • #316,453
  • Jun 15, 2012 4:36am Jun 15, 2012 4:36am
Quoting PoundTrader
true, now im minus about -23 pips for the week, messing around in this ranging market
Good day to you,

You should be ok a bit later today. i just had to cut cause I need to go.

there may be more upside.

Regards
  • #316,454
  • Jun 15, 2012 4:38am Jun 15, 2012 4:38am
Quoting PoundTrader
yep, now she's back in a mini downtrend again, look like she wanna hit 1.5411, im taking my $2,300 for the week and halling ass, good luck to all

should have halled ass......
I don't trust any move - when you have profit...take it.
  • #316,455
  • Jun 15, 2012 4:39am Jun 15, 2012 4:39am
Quoting Faller
the other day you said that you were going to take your $2300 and run cuz it was a good week..........WTF did u DO!?!?!?!?!?!??!?!?!?!?!
greed greed greed
  • #316,456
  • Jun 15, 2012 4:40am Jun 15, 2012 4:40am
Quoting Faller
should have halled ass......
sad thing is that i know better, somebody smack the fck out of me.
  • #316,457
  • Jun 15, 2012 4:42am Jun 15, 2012 4:42am
down 100 pips.
up 100 pips.

i rarely seen this happening.
maybe during some NFP........

price is going through a lot of supposed sup/dem levels.
90% of traders use TA, indicators and prediction
  • #316,458
  • Jun 15, 2012 4:42am Jun 15, 2012 4:42am
Last post for a few... we may see a little retrace lower first to reload.

Take care - see later

Regards
  • #316,459
  • Jun 15, 2012 4:43am Jun 15, 2012 4:43am
Quoting PoundTrader
sad thing is that i know better, somebody smack the fck out of me.

ok....here you go....

Inserted Video
I don't trust any move - when you have profit...take it.
  • #316,460
  • Jun 15, 2012 4:45am Jun 15, 2012 4:45am
Quoting Faller
ok....here you go....

http://www.youtube.com/watch?v=HS9OqubRZXo
like a good friend, faller is there
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