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Cable Update (GBPUSD)

  • #337,761
  • Mar 27, 2013 5:22am Mar 27, 2013 5:22am
Simply by checking the trend from the begining of the year you can see that the cable is going down. We saw the top point at 1.5260. its is going down towards below 1.48.

Quoting A-speculator
well, i couldn't agree more on that.. but depending on the method of trading, we might have different approach to the market, bulls & bears make money remember? i swing trade sometimes but with market like previous days on cable, i don't.. fiber yes..

but right now i try to enter short based on 1h at about 5150.
  • #337,762
  • Mar 27, 2013 5:26am Mar 27, 2013 5:26am
Quoting Maso
Simply by checking the trend from the begining of the year you can see that the cable is going down. We saw the top point at 1.5260. its is going down towards below 1.48.
yes, yes.. but rhere are times it's going up.. go why not get some pips there.. quite some pips there you know..
  • #337,763
  • Mar 27, 2013 6:04am Mar 27, 2013 6:04am
What I know is a very poor UK economy which is also so fragile.

Quoting A-speculator
yes, yes.. but rhere are times it's going up.. go why not get some pips there.. quite some pips there you know..
  • #337,764
  • Mar 27, 2013 6:09am Mar 27, 2013 6:09am
Quoting Maso
What I know is a very poor UK economy which is also so fragile.
yeah, the thing is in this business what the chart says actually doesn't translate to today's scenario.. normally the chart is saying what will happen in the next 6 - 12 months..

for now, i lowered my entry from 5150 to 5140, tight stop this is.. as always.
  • #337,765
  • Mar 27, 2013 6:15am Mar 27, 2013 6:15am
Quoting A-speculator
yeah, the thing is in this business what the chart says actually doesn't translate to today's scenario.. normally the chart is saying what will happen in the next 6 - 12 months..

for now, i lowered my entry from 5150 to 5140, tight stop this is.. as always.
i presumed, you are waiting for a buy stop at 5140, so there's no support turn r, on that area of asia's support, with a base formed from 5110.

?
  • #337,766
  • Mar 27, 2013 6:15am Mar 27, 2013 6:15am
Yes, I do agree

Quoting A-speculator
yeah, the thing is in this business what the chart says actually doesn't translate to today's scenario.. normally the chart is saying what will happen in the next 6 - 12 months..

for now, i lowered my entry from 5150 to 5140, tight stop this is.. as always.
  • #337,767
  • Mar 27, 2013 6:16am Mar 27, 2013 6:16am
Quoting 5percent
i presumed, you are waiting for a buy stop at 5140, so there's no support turn r, on that area of asia's support, with a base formed from 5110.

?
no.. no buy at resistance mate.. see 1 hr.. i'm pending sell there!
  • #337,768
  • Mar 27, 2013 6:17am Mar 27, 2013 6:17am
Quoting A-speculator
no.. no buy at resistance mate.. see 1 hr.. i'm pending sell there!
ok , thanks for clarifying. So you are waiting for pullback to sell on retrace.
  • #337,769
  • Mar 27, 2013 6:18am Mar 27, 2013 6:18am
Quoting 5percent
ok , thanks for clarifying. So you are waiting for pullback to sell on retrace.
yes, that's exactly what i'm waiting for, not sure it will get there tho.. just waiting
  • #337,770
  • Mar 27, 2013 6:20am Mar 27, 2013 6:20am
Quoting 5percent
ok , thanks for clarifying. So you are waiting for pullback to sell on retrace.

might not get there, this looks quite strong and may crash 1.51 and look for 1.506
Money never sleeps...
  • #337,771
  • Mar 27, 2013 6:21am Mar 27, 2013 6:21am
Quoting inpatient
might not get there, this looks quite strong and may crash 1.51 and look for 1.506
patience mate.. don't be inpatient..
  • #337,772
  • Mar 27, 2013 6:21am Mar 27, 2013 6:21am
everyones saying long but this confirms to me down to 1.48, only if it doesnt get past that support @ 1.50243 should you consider longing IMO
Attached Image (click to enlarge)
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  • #337,773
  • Mar 27, 2013 6:31am Mar 27, 2013 6:31am
4h already confirms the breakout with a closed below the range lows.. let's hope for a pullback..

since this is based on 4h, we might get pullback after sometime..
  • #337,774
  • Mar 27, 2013 6:35am Mar 27, 2013 6:35am
what happened to those expecting 1.53? sorry but the fragile uk economy is in freefall and will be for foreseeable future, and the cyprus bailout (balls up) has destroyed sentiment next stop 1.508
  • #337,775
  • Mar 27, 2013 6:37am Mar 27, 2013 6:37am
Quoting inpatient

The simpleton in me wants to say we will be at 1.51 tomorrow
achieved
Money never sleeps...
  • #337,776
  • Mar 27, 2013 6:38am Mar 27, 2013 6:38am
Quoting Hamidtraders
what happened to those expecting 1.53? sorry but the fragile uk economy is in freefall and will be for foreseeable future, and the cyprus bailout (balls up) has destroyed sentiment
this is normal to what happen in counter trend wave.. supposed i also expect price to mature at 5500 at the 50% of the downtrend, but it's normal for the counter trend to return to it's main trend prematurely, it's not even reach the 38%..

that's is why trading counter trend is very dangerous..
  • #337,777
  • Mar 27, 2013 7:02am Mar 27, 2013 7:02am
Well done!

Just wait for 1.49.

Quoting inpatient
achieved
  • #337,778
  • Mar 27, 2013 7:04am Mar 27, 2013 7:04am
Quoting inpatient
achieved
I didn't think it was possible. Wishing I never closed those shorts off last week now
  • #337,779
  • Mar 27, 2013 7:06am Mar 27, 2013 7:06am
A break below the 1.5070 area
and we may as well be expecting 1.4900
soon

Danny
  • #337,780
  • Mar 27, 2013 7:11am Mar 27, 2013 7:11am
I wonder if 1.5060 will be the limit of it's drop today, that would give a 120 pip range for the day, is right on a zone and today's S3.

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