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Cable Update (GBPUSD)

  • #337,781
  • Mar 27, 2013 7:32am Mar 27, 2013 7:32am
Quoting blobsaudio
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.

Attachment
Maybe it for today, after all 1.5070 area is already a Support zone.
  • #337,782
  • Mar 27, 2013 7:39am Mar 27, 2013 7:39am
The only support area I think is around 1.50 or even below. It seems that the pair is going to be closed below 1.50 at the end of this month.

Quoting Danny Maina
Maybe it for today, after all 1.5070 area is already a Support zone.
  • #337,783
  • Mar 27, 2013 7:44am Mar 27, 2013 7:44am
GBPUSD:
This is forecast on today for this pair.
I would rather tell that it is better to open a long position and TP would be 1.51201 and stop loss I set on the 1.51005 level.
Have a good day.
  • #337,784
  • Mar 27, 2013 7:46am Mar 27, 2013 7:46am
Quoting inpatient
might not get there, this looks quite strong and may crash 1.51 and look for 1.506
inpatient thanks for the Vouch
  • #337,785
  • Mar 27, 2013 7:48am Mar 27, 2013 7:48am
Quoting Maso
The only support area I think is around 1.50 or even below. It seems that the pair is going to be closed below 1.50 at the end of this month.
Support is where we bounced from just recently (and my long entry at 5098, TP1 5270, TP2 5340) - at this point its either going to make LL in this ongoing daily bounce or not (last HL was at 5087)... Second one lower to watch would be 5065/45 for possible bounces
69
  • #337,786
  • Mar 27, 2013 7:50am Mar 27, 2013 7:50am
Quoting inpatient
no but still looking for an opportunity to enter long from under 1.50

I think London will sell this down again tomorrow, good luck bro. Your a star
i hope you sold it down as well. my tp hasn't hit yet wait for me to hit my tp before you go long
  • #337,787
  • Mar 27, 2013 7:53am Mar 27, 2013 7:53am
fibo 38.
shoul be reaction
Attached Image
  • #337,788
  • Mar 27, 2013 7:57am Mar 27, 2013 7:57am
Quoting Likerty
Support is where we bounced from just recently (and my long entry at 5098, TP1 5270, TP2 5340) - at this point its either going to make LL in this ongoing daily bounce or not (last HL was at 5087)... Second one lower to watch would be 5065/45 for possible bounces
yeah, hopefully cable can go up a bit..
  • #337,789
  • Mar 27, 2013 7:58am Mar 27, 2013 7:58am
GBPUSD:
This is forecast on today for this pair.
I would rather tell that it is better to open a long position and TP would be 1.51201 and stop loss I set on the 1.50960 level.
Have a good day.
  • #337,790
  • Mar 27, 2013 8:02am Mar 27, 2013 8:02am
in the meantime, trigged long ucad.. hopefully this doesn't break through..
  • #337,791
  • Mar 27, 2013 8:02am Mar 27, 2013 8:02am
from what i see, i still think an initial long entry should be at 5010..

"lets see how it plays" -- Baher Hosni
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #337,792
  • Mar 27, 2013 8:05am Mar 27, 2013 8:05am
I'm really wondering you all traders are thinking about long positions on a weak pair with very poor economy.

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  • #337,793
  • Mar 27, 2013 8:23am Mar 27, 2013 8:23am
H4

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Weekly

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"Rule No.1: Never lose money. Rule No.2: Never forget rule No.1." — Warren
  • #337,794
  • Mar 27, 2013 8:26am Mar 27, 2013 8:26am
Quoting Maso
I'm really wondering you all traders are thinking about long positions on a weak pair with very poor economy.

Attachment
the thing is that i dont think a long position for a 100 pips on its way to retest the highs is like thinking that it will rally all the way 5500s or anything. I also tend to take this one step at a time which helps reduce the risk both psychologically and from a money management point of views..

I also agree with you that it will want to test the lows again.. but not like a falling stone as the chart you provided suggests. I see multi-level channels that it will work through for testing the highs and lows until the fundies and technicals agree on a direction of break out from the wider range which in my view is a few of hundred pips wide! currently between 5250 and 4980..

please tell me if i am off track guys..
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #337,795
  • Mar 27, 2013 8:32am Mar 27, 2013 8:32am
Quoting Maso
I'm really wondering you all traders are thinking about long positions on a weak pair with very poor economy.

Attachment
You talking about months and years of developments and I'm talkign about few sessions here.. Just counting on the retest of some broken levels which is perfectly normal in any trend
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  • #337,796
  • Mar 27, 2013 8:38am Mar 27, 2013 8:38am
Every trader applies individual strategies. I quite understand that you all believe that it is dangerous to load short positions in this area. But the important point is the pair may fall in 1.40 area in the next few months. The current accounts felt sharply. the GDP felt sharply, the BOE wants a weak currency...

I'm looking for the 1.4 level. Some months it was around 1.6., then 1.50 and now towards 1.40.

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Quoting baherhosni
the thing is that i dont think a long position for a 100 pips on its way to retest the highs is like thinking that it will rally all the way 5500s or anything. I also tend to take this one step at a time which helps reduce the risk both psychologically and from a money management point of views..

I also agree with you that it will want to test the lows again.. but not like a falling stone as the chart you provided suggests. I see multi-level channels that it will work through for testing the highs and lows until the fundies and technicals agree...
  • #337,797
  • Mar 27, 2013 8:41am Mar 27, 2013 8:41am
I've understood that I have to swim on the flow of water not against it so, I always load short positions when the cable is at a momentum peak.

Quoting Likerty
You talking about months and years of developments and I'm talkign about few sessions here.. Just counting on the retest of some broken levels which is perfectly normal in any trend
  • #337,798
  • Mar 27, 2013 9:14am Mar 27, 2013 9:14am
what happened to cable? lol.

ucad has moved 20pips from my entry and cable goes nowhere.. been boring trading cable these days, even fiber better..
  • #337,799
  • Mar 27, 2013 9:16am Mar 27, 2013 9:16am
Quoting Maso
I've understood that I have to swim on the flow of water not against it so, I always load short positions when the cable is at a momentum peak.
that flow that you've been talking about, to me is rather subjective mate..

one might see intraday flow, others might see yearly flow.. as long as we're in profit, that's what matters, right?
  • #337,800
  • Mar 27, 2013 9:26am Mar 27, 2013 9:26am
Quoting A-speculator
that flow that you've been talking about, to me is rather subjective mate..

one might see intraday flow, others might see yearly flow.. as long as we're in profit, that's what matters, right?
east.. err.. I mean
right...
I still need a trading break soon!!! "Loose some to win more" --Baher A.
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