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Cable Update (GBPUSD)

  • #325,941
  • Oct 5, 2012 4:58am Oct 5, 2012 4:58am
Quoting Freshpips
Thinking after 120+ pip upards move with 2 tests of 62 on m30 confirming it as potential top, I was more inclined to to project a correction of sorts first before market deciding its overall direction, either change in trend or bullish resumption..

But you never know on NFP day...

Plus im short from 86 so obviously I want the bears to step it up

Although looks like you were spot on bro
it's too early to say up or down
  • #325,942
  • Oct 5, 2012 5:18am Oct 5, 2012 5:18am
so.. one more time picture...

buy on a break
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  • #325,943
  • Oct 5, 2012 5:36am Oct 5, 2012 5:36am
Seems strong resistance at 1.62 but buyers are also desperate to break it and sellers are fearful about NFP...consolidating for the last 18 Hours within 6180-6200...
  • #325,944
  • Oct 5, 2012 5:40am Oct 5, 2012 5:40am
Quoting walkman
so.. one more time picture...

buy on a break
Hi Walkman, you have answered the question for me. I am currently in a short as it is coming from the top of the channel and so far paying off. If it breaks the channel, I will be looking long. Its being at the top of the channel thats making me think short.

But....its hanging around there on the 1 hour chart since the days open so hmmmm. As Freshpips mentioned, this is probably the lull before the storm that is NFP later.

Regards
  • #325,945
  • Oct 5, 2012 5:47am Oct 5, 2012 5:47am
Quoting gavalar
Hi Walkman, you have answered the question for me. I am currently in a short as it is coming from the top of the channel and so far paying off. If it breaks the channel, I will be looking long. Its being at the top of the channel thats making me think short.

But....its hanging around there on the 1 hour chart since the days open so hmmmm. As Freshpips mentioned, this is probably the lull before the storm that is NFP later.

Regards

Agreed - wise plan aswell.
  • #325,946
  • Oct 5, 2012 5:57am Oct 5, 2012 5:57am
question about which channel we are talking, if about H4, its have some space to go up.
if about h1 its perfect flag. and flag its wery good place to buy.

if it would by false flag break then it would be good place to sell
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  • #325,947
  • Oct 5, 2012 5:59am Oct 5, 2012 5:59am
Tank Tank TANK!!! Not a call...just a prayer....LOL
Ghost Rider - WWTBMD?
  • #325,948
  • Oct 5, 2012 6:10am Oct 5, 2012 6:10am
Quoting albchr
Tank Tank TANK!!! Not a call...just a prayer....LOL
May the sun always shine bright with energy when rising and glimmer with comfort in descent

May your charts whisper to your burning ears

May your flowers be full of bees and your weeds choke on fallen nectar

May your wins humble and your losses teach

May still waters massage your aches and clean water quench your thirst

May fear give way to peace and greed surrender to charity

May the eyes of a child sooth the wrinkles of age

May a logical life give new meaning to an illogical chart

May you outlive your mother and father and die honored before your children

May the life within bring beauty to the life without
  • #325,949
  • Oct 5, 2012 6:13am Oct 5, 2012 6:13am



Quoting redbeben
May the sun always shine bright with energy when rising and glimmer with comfort in descent

May your charts whisper to your burning ears

May your flowers be full of bees and your weeds choke on fallen nectar

May your wins humble and your losses teach

May still waters massage your aches and clean water quench your thirst

May fear give way to peace and greed surrender to charity

May the eyes of a child sooth the wrinkles of age

May a logical life give new meaning to an illogical chart

May you outlive your mother and father and die honored...
  • #325,950
  • Oct 5, 2012 6:17am Oct 5, 2012 6:17am
Quoting walkman
question about which channel we are talking, if about H4, its have some space to go up.
if about h1 its perfect flag. and flag its wery good place to buy.

if it would by false flag break then it would be good place to sell
yes, I can see both and can see potential flag but short 10 pip sl above h1 channel. Will wait now for NFP, if its good news and reaction is right bearing in mind how the market seems to take the opposite view, then I will do ok, if it goes up then 10 pip sl will protect.

Tried trading a couple of pairs this morning and the ranges have been dreadful so I guess everyone is either out for the day or saving themselves for later.
  • #325,951
  • Oct 5, 2012 6:18am Oct 5, 2012 6:18am
Quoting walkman
so.. one more time picture...

buy on a break
By the way, you're right if it breaks, thats the way to go
  • #325,952
  • Oct 5, 2012 6:30am Oct 5, 2012 6:30am
Quoting albchr
Tank Tank TANK!!! Not a call...just a prayer....LOL
I have a feeling it will eventually go up to at least 1.6260... but you can never tell with NFP. I have locked my swing positions in case it plays out like this. I hope it does tank too.

Wishing you a nice weekend even if today doesn't go your way!
  • #325,953
  • Oct 5, 2012 6:40am Oct 5, 2012 6:40am
Quoting bbakker
I have a feeling it will eventually go up to at least 1.6260... but you can never tell with NFP. I have locked my swing positions in case it plays out like this. I hope it does tank too.

Wishing you a nice weekend even if today doesn't go your way!

we are right now positioned below the low of the shooting star on dailly which should act as resistance..and also retrace 61.8 of the swing..if it breaks south...it will be a powerfull move

i think its actually a 50:50 chance either way
  • #325,954
  • Oct 5, 2012 7:16am Oct 5, 2012 7:16am
Quoting nAVIN2007
we are right now positioned below the low of the shooting star on dailly which should act as resistance..and also retrace 61.8 of the swing..if it breaks south...it will be a powerfull move

i think its actually a 50:50 chance either way
If the figure is > 150K, I think it will tank... anything less and I think the $ will be sold across the board. In trading you don't want to think too much anyway and just follow price. It is all in the charts!

Have a great weekend nAV!
  • #325,955
  • Oct 5, 2012 7:22am Oct 5, 2012 7:22am
Quoting bbakker
If the figure is > 150K, I think it will tank... anything less and I think the $ will be sold across the board. In trading you don't want to think too much anyway and just follow price. It is all in the charts!

Have a great weekend nAV!
Its bizarre isnt it. I think you're right but the forecast is 114 and should be a positive but the market hardly ever seems to react how you would expect. I have a short in play but if the sl goes on that, this shop will be closed for the week end.

Have a good one and enjoy.
  • #325,956
  • Oct 5, 2012 7:26am Oct 5, 2012 7:26am
Don't know what the news is going to do , but I'd rather be on the sell side for now ..
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  • #325,957
  • Oct 5, 2012 7:38am Oct 5, 2012 7:38am
Quoting redbeben
as I mentioned some days ago..good news for USD are not necessarily good news for EUR

this year it might be risk on on good USD news or risk off on bad USD news
could either be a double top now on GU or continue with risk on and f*** upper levels


who can tell what sharks will do
  • #325,958
  • Oct 5, 2012 7:39am Oct 5, 2012 7:39am
7.8 % - Holy smokes , Good times are here again .. - Funny how everyone is spinning the numbers according to their Political views..lol
  • #325,959
  • Oct 5, 2012 7:46am Oct 5, 2012 7:46am
Quoting taomql4
7.8 % - Holy smokes , Good times are here again .. - Funny how everyone is spinning the numbers according to their Political views..lol
great isnt it..best data since 2009 and gu up...probably to try and take out all the shorts before plummeting and taking out the longs
  • #325,960
  • Oct 5, 2012 7:46am Oct 5, 2012 7:46am
Quoting taomql4
7.8 % - Holy smokes , Good times are here again .. - Funny how everyone is spinning the numbers according to their Political views..lol
That headline figure could save the $ from being trounced today! I have 1.6217 as the line in the sand... above that and bulls will take it further up!
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