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Cable Update (GBPUSD)

  • #322,501
  • Aug 23, 2012 7:17am Aug 23, 2012 7:17am
will be lucky to see 1.5840..

i sense a big move up coming if the ascending dailly trendline is legit..nice steep angle, makes me believe 1.61 monthly close can be possible
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  • #322,502
  • Aug 23, 2012 7:32am Aug 23, 2012 7:32am
Quoting nAVIN2007
i guess so..but i think its about find the probable direction..they arent equally weighted i dont think..but i get the jist of what yur saying and theres a part of me which agrees but im not completely comfortable with it

i dont like gambling..rolf
Hi Nav, I was thinking the exact same thing, "guessing" can have a strong ring of "gambling" to it, meaning no idea but have a go.
On the other hand, we have "educated guesses" and the loose use of the word "guess" to convey a "considered" judgement. For example, check the 2nd word of your post I just quoted
Guess can mean "I haven't got a clue so I'll just guess and go long/short and hope for the best, or it can mean "based on my analysis and the way that mofo of a 60sma is snaking along that TL, I'm "guessing" this level will hold as support considering the bullish 4hr pin bar".

Sorry mate, I'm just bored waiting for a swing short signal and felt like chatting
Come with me if you want to live....
  • #322,503
  • Aug 23, 2012 7:41am Aug 23, 2012 7:41am
Short term consolidation is taking place at the moment.
  • #322,504
  • Aug 23, 2012 7:43am Aug 23, 2012 7:43am
Quoting nAVIN2007
i guess so..but i think its about find the probable direction..they arent equally weighted i dont think..but i get the jist of what yur saying and theres a part of me which agrees but im not completely comfortable with it

i dont like gambling..rolf
LOL...it's all samantics bro.

"Guessing"..."Figuring"....."Sensing".....calculated "Probability"... In the end, all we can do is make our best "Guess".....

Trading IS a gamble. Just hopefully with the odds in our favor a bit.
Ghost Rider - WWTBMD?
  • #322,505
  • Aug 23, 2012 7:48am Aug 23, 2012 7:48am
Quoting Ill-b-back
Hi Nav, I was thinking the exact same thing, "guessing" can have a strong ring of "gambling" to it, meaning no idea but have a go.
On the other hand, we have "educated guesses" and the loose use of the word "guess" to convey a "considered" judgement. For example, check the 2nd word of your post I just quoted
Guess can mean "I haven't got a clue so I'll just guess and go long/short and hope for the best, or it can mean "based on my analysis and the way that mofo of a 60sma is snaking along that TL, I'm "guessing" this level will...

I agree with all thats been said, but I think to a certain degree its down to personal interpretation...
I believe its down to finding the highest probability trade/direction based on whichever tools you have at your disposal. But because alot of people use many different tools, whether it be MA's, trendlines, fibs, PA on technical side or the news releases/figures on the fundies side, this is what causes the differences of projections/views.

I, like you, am bored
  • #322,506
  • Aug 23, 2012 7:51am Aug 23, 2012 7:51am
My cable short from 1.5895 may be closed soon... Hasnt done a great deal in the last 4-5 hours. Im starting to think my tp of 1.5845 was slightly amitious??
  • #322,507
  • Aug 23, 2012 7:53am Aug 23, 2012 7:53am
Quoting Freshpips
I agree with all thats been said, but I think to a certain degree its down to personal interpretation...
I believe its down to finding the highest probability trade/direction based on whichever tools you have at your disposal. But because alot of people use many different tools, whether it be MA's, trendlines, fibs, PA on technical side or the news releases/figures on the fundies side, this is what causes the differences of projections/views.

I, like you, am bored
Bored and now sleepy
10.52pm here, off to bed
Come with me if you want to live....
  • #322,508
  • Aug 23, 2012 7:56am Aug 23, 2012 7:56am
Quoting Ill-b-back
Bored and now sleepy
10.52pm here, off to bed

My apologies if my post made you sleepy!
  • #322,509
  • Aug 23, 2012 7:57am Aug 23, 2012 7:57am
off to work ..lets get lucky..
  • #322,510
  • Aug 23, 2012 7:59am Aug 23, 2012 7:59am
Quoting Freshpips
My cable short from 1.5895 may be closed soon... Hasnt done a great deal in the last 4-5 hours. Im starting to think my tp of 1.5845 was slightly amitious??
U.S unemployment news was not bullish.
Dow futures are down at the moment.
you have a chance to make in the U.S. session, why not?
  • #322,511
  • Aug 23, 2012 8:10am Aug 23, 2012 8:10am
Quoting ovaforty
U.S unemployment news was not bullish.
Dow futures are down at the moment.
you have a chance to make in the U.S. session, why not?

Hi ova,

I thought it would have moved by now and with the employment figures as the catalyst thought that would have been the push it needed but still not really moving...

You still think its got more downside left?
  • #322,512
  • Aug 23, 2012 8:30am Aug 23, 2012 8:30am
It has not really moved either direction much after hitting resistance at 1.5910 area, then pulling back to support.

Your chances are as good as any at the moment.
  • #322,513
  • Aug 23, 2012 8:36am Aug 23, 2012 8:36am
Quoting Freshpips
Hi ova,

I thought it would have moved by now and with the employment figures as the catalyst thought that would have been the push it needed but still not really moving...

You still think its got more downside left?
Set your stop loss at b/e and forget about it. No risk of loss to you then. There is upside potential later that will cause a loss or drawdown for you, but there is also a probable retrace to test support at 1.5840/30 first.
  • #322,514
  • Aug 23, 2012 8:46am Aug 23, 2012 8:46am
after 5910
i see only 5770
even i'm thinking it will be tonight
see you all guys there 5770
  • #322,515
  • Aug 23, 2012 8:47am Aug 23, 2012 8:47am
Quoting ovaforty
Set your stop loss at b/e and forget about it. No risk of loss to you then. There is upside potential later that will cause a loss or drawdown for you, but there is also a probable retrace to test support at 1.5840/30 first.

Thanks dude, sl moved to be, let run with tp reduced to 1.5855 (since all risk removed I thought Id slightly reduce the TP in order for a better chance of it being hit). Will monitor...

Thanks.
  • #322,516
  • Aug 23, 2012 8:50am Aug 23, 2012 8:50am
Quoting julia2011
after 5910
i see only 5770
even i'm thinking it will be tonight
see you all guys there 5770
i see it maybe next week... but lots of wood to chop in between for now.
  • #322,517
  • Aug 23, 2012 8:51am Aug 23, 2012 8:51am
Quoting TauTrader
Good day to you,

Here is a different approach...

Do not see price going up from these levels, as gainst you - rather as extra discount.

Regards
Good day to you,

Was up in Gauteng for 2 days. Funeral of one of my best friends. Died in a motorcycle accident. He was 37 years old...

Anyway..

Got my ass handed to me on GU shorts. ( see previous posts). SL taken on all. Read through the thread now. Will ignore the BS.

Just one thing.. I was wrong in stabbing at people long at the time. That is obvious. So for that, I have to apologize.Just getting back into things here... I see 1.5840 as a possible target. Could even become 1.5810.

Short from 1.5900 this morning.

All the best to you

Regards
  • #322,518
  • Aug 23, 2012 8:53am Aug 23, 2012 8:53am
Cable is consolidating a very strong recent move up, and will re-test 1.5910 again, with intentions of breaking it to the upside. Buying interest is too strong with Hopium in control for now.

Reality won't set in until Sept.
  • #322,519
  • Aug 23, 2012 9:01am Aug 23, 2012 9:01am
Last hour of Frankfurt now. Then last hour of london follows.

Do what they do.

If they bail from their longs or hold on to them.
  • #322,520
  • Aug 23, 2012 9:05am Aug 23, 2012 9:05am
New home sales, and house price index beat expectations.
Investors are buying real estate here in the u.s. at bargain prices.
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