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Cable Update (GBPUSD)

  • #325,221
  • Sep 27, 2012 2:39am Sep 27, 2012 2:39am
Quoting greg811
everything is in the chart, pattern suggests reversal I have marked levels
Well I guess "reversal" all depends on the time frame you're looking at.

But 50 - 60 pips is enough of a climb to say.....Good eye buddy and nice call!

You're call for "caution before further shorts" is well founded and now proven.

I'm still holding shorts but I'm trading off the daily on this trade so for me, it's a bounce. As with everything in life, it's all a matter of perspective.
Ghost Rider - WWTBMD?
  • #325,222
  • Sep 27, 2012 2:43am Sep 27, 2012 2:43am
Quoting rkr81
I have taken a long in GU at1.6189 with a smaller risk % as the price formed lower lows in 4hrs
Cover it quickly when you can.
Ghost Rider - WWTBMD?
  • #325,223
  • Sep 27, 2012 2:47am Sep 27, 2012 2:47am
main mover will be the US Gdp data today together with the other US data (durable goods etc).
in my opinion today we see something with JPY and CHF pairs.

UJ is near the 77.00 and Aud Chf is attempting to breake the .9800 again.
90% of traders use TA, indicators and prediction
  • #325,224
  • Sep 27, 2012 3:06am Sep 27, 2012 3:06am
btw...
GU seems no very good for longs actually.
only a clear change in GDP could give a push IMO.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_GBP_USD_Hourly_snapshot.jpg Size: 69 KB
90% of traders use TA, indicators and prediction
  • #325,225
  • Sep 27, 2012 3:13am Sep 27, 2012 3:13am
i'm sell limit 6214 sl 6275 tg 6125. small position due to possible spike during data.
90% of traders use TA, indicators and prediction
  • #325,226
  • Sep 27, 2012 3:17am Sep 27, 2012 3:17am
Quoting _BBKing_
btw...
GU seems no very good for longs actually.
only a clear change in GDP could give a push IMO.
Ghost Rider - WWTBMD?
  • #325,227
  • Sep 27, 2012 3:18am Sep 27, 2012 3:18am
Quoting _BBKing_
i'm sell limit 6214 sl 6275 tg 6125. small position due to possible spike during data.
of course... maybe price will not even get my entry but i only want to enter there, not anywhere else.
90% of traders use TA, indicators and prediction
  • #325,228
  • Sep 27, 2012 3:23am Sep 27, 2012 3:23am
Quoting greg811
I just share what I see
Hey Greg, I respect what you see but your right that was a good place to buy, but a reversal? Reason why i think its a bounce is because if you look back at the last few days or couple of weeks you can see that on the 4hour chart head and shoulders have formed.
Now im not always concerned about the crab, cows or chickens but when we have been making lower lows and lower highs il re-think your reversal.

Too add to this at 9:30am we have current account and with this flooding etc etc i believe the economy may take a small hit!!

What you think bud?
Trading comes quickly, patience and discipline does not!
  • #325,229
  • Sep 27, 2012 3:24am Sep 27, 2012 3:24am
Quoting redbeben
6170-75 to be watched in case we run to 6200 or drop dead
on EU 2870 for 2900 or 2830-06
great start of the day...market was good with me overnight and brought me 60 pips
  • #325,230
  • Sep 27, 2012 3:29am Sep 27, 2012 3:29am
It might retest 1.62200 area. It can happen.
  • #325,231
  • Sep 27, 2012 3:29am Sep 27, 2012 3:29am
LOL....sometimes it's hard to stick to your guns. I could get out right now with 57 pips but I really want 6064 ... LOL
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  • #325,232
  • Sep 27, 2012 3:35am Sep 27, 2012 3:35am
Quoting albchr
LOL....sometimes it's hard to stick to your guns. I could get out right now with 57 pips but I really want 6064 ... LOL
good luck.
i also see 6060 coming possible but personally i will target every short above the 6110 line. assuming price will trigger my entry

actually UK GDP big smoke and no roast chicken.
maybe today during NY we see more action.
90% of traders use TA, indicators and prediction
  • #325,233
  • Sep 27, 2012 3:36am Sep 27, 2012 3:36am
Quoting dav7
It might retest 1.62200 area. It can happen.
With all the noise today? Price will be all over the map so yep, anything is possible.
Ghost Rider - WWTBMD?
  • #325,234
  • Edited 3:52am Sep 27, 2012 3:40am | Edited 3:52am
Quoting _BBKing_
good luck.
i also see 6060 coming possible but personally i will target every short above the 6110 line. assuming price will trigger my entry

actually UK GDP big smoke and no roast chicken.
maybe today during NY we see more action.
At 6214 you'll probably get in bro. Hell, we could see spikes hitting 6250 or even higher today.

I'm sure "some" BS noise will come along and trigger it for ya....

My stops are at 6290 and I may have to move them to 6330ish...LOL

EDIT: My 1H shows a TL, 200ma and 38.2 all right at 6218ish (arrow). So I think we have a real shot at hitting that today. We just tested 6205 R
Attached Image (click to enlarge)
Click to Enlarge Name: gu_1h.gif Size: 32 KB
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  • #325,235
  • Sep 27, 2012 3:55am Sep 27, 2012 3:55am
Quoting albchr
At 6214 you'll probably get in bro. Hell, we could see spikes hitting 6250 or even higher today.

I'm sure "some" BS noise will come along and trigger it for ya....

My stops are at 6290 and I may have to move them to 6330ish...LOL

EDIT: My 1H shows a TL, 200ma and 38.2 all right at 6218ish (arrow). So I think we have a real shot at hitting that today. We just tested 6205 R
could you show please, where this line starts?
Attached Image (click to enlarge)
Click to Enlarge Name: gu_1h.gif Size: 34 KB
  • #325,236
  • Sep 27, 2012 4:00am Sep 27, 2012 4:00am
Quoting albchr
At 6214 you'll probably get in bro. Hell, we could see spikes hitting 6250 or even higher today.

I'm sure "some" BS noise will come along and trigger it for ya....

My stops are at 6290 and I may have to move them to 6330ish...LOL

EDIT: My 1H shows a TL, 200ma and 38.2 all right at 6218ish (arrow). So I think we have a real shot at hitting that today. We just tested 6205 R
yes price can get there, problem is to wait and see the reaction.
but i'm 100% sure of 1 thing:
my sl is above actual range near 6275 in case of 'insanity' in market etc... but if i see price above 6215 candle closing i will look only to close my trade because reasons of my position in that case will not be anymore in charts
90% of traders use TA, indicators and prediction
  • #325,237
  • Sep 27, 2012 4:00am Sep 27, 2012 4:00am
sell limit 6208 sl 6250 and TP 6120 first tp2 6031 the rest to come

if we even get above 6197.....boring morning.I scalped 20 more from 6170
  • #325,238
  • Sep 27, 2012 4:03am Sep 27, 2012 4:03am
Quoting walkman
could you show please, where this line starts?
Sure, that's a secondary 4H LTL after the start of the steeper climb from the end of August.
Attached Image (click to enlarge)
Click to Enlarge Name: gu_4h.gif Size: 27 KB
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  • #325,239
  • Sep 27, 2012 4:03am Sep 27, 2012 4:03am
there is a chance of EU long 2867 for 2882,2889 and 2896

2903 should cap the upmove
  • #325,240
  • Sep 27, 2012 4:06am Sep 27, 2012 4:06am
Quoting redbeben
sell limit 6208 sl 6250 and TP 6120 first tp2 6031 the rest to come

if we even get above 6197.....boring morning.I scalped 20 more from 6170
Me thinks you'll be seeing that very soon.

That's the one drawback to holding positions for me. Leaves no play in my account for scalping all the wonderful little pips in the mean time.
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