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Cable Update (GBPUSD)

  • #141,521
  • Jul 1, 2009 2:59am Jul 1, 2009 2:59am
it's all up to your nawaitu' , if yo0u invest in a company wth out doing major homework , its still a gamble . same goes to forexr / others bussiness.
  • #141,522
  • Jul 1, 2009 2:59am Jul 1, 2009 2:59am
Quoting sinisabrkic
Sell
It seems that it started short before my target H4 EMA20!?
  • #141,523
  • Jul 1, 2009 3:00am Jul 1, 2009 3:00am
oppss.. im out of trade now. Im still looking at high of the day today and then i will place a short again
GELORE
  • #141,524
  • Jul 1, 2009 3:05am Jul 1, 2009 3:05am
h1 closed below 1.6450.. the candle looks pretty bearish...
  • #141,525
  • Jul 1, 2009 3:05am Jul 1, 2009 3:05am
I am short 50% of stake at 1.6452 first target at 1.6380
  • #141,526
  • Jul 1, 2009 3:07am Jul 1, 2009 3:07am
Quoting sinisabrkic
I am short 50% of stake at 1.6452 first target at 1.6380
Second target 1.6340 at MP
  • #141,527
  • Jul 1, 2009 3:08am Jul 1, 2009 3:08am
Quoting sinisabrkic
I am short 50% of stake at 1.6452 first target at 1.6380
50 percent of stake?? what do u mean??
  • #141,528
  • Jul 1, 2009 3:10am Jul 1, 2009 3:10am
Quoting wormboy
It's there mate, before this, my "sell" button was awesome. Now it's the ignore button
How are the trades coming along?
I've made a killing the past 2 - 3 weeks playing up and down in this range. Really BLEW the 4H pin yesterday though. Didn't take it as I thought it was just a pullback to retest 6600 which has been such strong resistance I was sure it would be good support...LOL Whoops...

Then I bagged 3 small losses in a row by not following 2 of my own rules....

Sideline right now until this puppy decides what it wants to "really" do. And you?
Ghost Rider - WWTBMD?
  • #141,529
  • Jul 1, 2009 3:12am Jul 1, 2009 3:12am
Quoting mloistianto
1.6485 is fibo 50 percent.. best place to short except a breakout happen..
I agree. 6470 level is the near term resistance I have. I suppose being 15 pips off from your fibs level sounds about right
Attached Image (click to enlarge)
Click to Enlarge Name: gusr.JPG Size: 72 KB
Thank You
  • #141,530
  • Jul 1, 2009 3:13am Jul 1, 2009 3:13am
Quoting sinisabrkic
Second target 1.6340 at MP
Targets
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd target.gif Size: 42 KB
  • #141,531
  • Jul 1, 2009 3:15am Jul 1, 2009 3:15am
Morning WB

I am long from 1.6383 currently the the price is banging its head against the 1H 200EMA this is at 1.6450 I expect it to carry on climbing if it gets past this price

We are also above the 10SMA which would support the north bound trip if 1.6437 gets taken out I will close my long
  • #141,532
  • Jul 1, 2009 3:15am Jul 1, 2009 3:15am
any ideas on price action once the Manufactuirng data comes out??
  • #141,533
  • Jul 1, 2009 3:15am Jul 1, 2009 3:15am
Quoting Zuke
Ok, my first trade of the day has just been filled:

SHORT 6426, SL 6476, TP 6326

Rationale: The 6425-6430 area is previous support that is now resistance. The trend is also confirmed as down on my technicals and hence I am selling into rallies (this rally being from 6381, which easily took out previous support at Murray Math 1/8 line 6418)

I wont be going long until I see a genuine reason to do so...especially as I am a price follower.

Will post a chart when I get to my desk so you can see what I am seeing (sending this post from a phone)...
The advantage of only trading a 1 lot! Print on Bloomie showed 6473 Bid, which would have knocked out my stop...but broker print only showed 6472 bid..hence leaving my stop intact. Im pretty sure that if I was trading decent size that would have been taken out!!

Anyway, moved stop to 6486 behind 2/8 Murray Math Line (which is what I should have done in the first place!) Target still the same
  • #141,534
  • Jul 1, 2009 3:16am Jul 1, 2009 3:16am
I was wrong earlier,sorry
  • #141,535
  • Jul 1, 2009 3:16am Jul 1, 2009 3:16am
Quoting mloistianto
50 percent of stake?? what do u mean??
Hi

Usually I trade 1 lot but sometimes when it is risk trade I use 0.5 lot. and at first target I close 50% of trade and let the rest to run to the last target.
  • #141,536
  • Jul 1, 2009 3:18am Jul 1, 2009 3:18am
Quoting roreki
i hope so my target will be around 1.6250-1.6220 ( if it go there ) , i feel it will go up don't know why and don't know wt am doing
I can picture a 100% fib retracement from June 25th lows to June 30th highs. And we'll still be in that range mode-consolidation type of PA.

Wish you the best on that
Year of the Dragon Wise Choices-Good Fortune!
  • #141,537
  • Jul 1, 2009 3:18am Jul 1, 2009 3:18am
Hey Bull? Do u have any last words??
  • #141,538
  • Jul 1, 2009 3:19am Jul 1, 2009 3:19am
Quoting albchr
I've made a killing the past 2 - 3 weeks playing up and down in this range.
Lol. Nice job on nailing the range .
Welp, I've stayed out from cable almost the whole time she was ranging. Except for the reversal yesterday where I made some good pips & still holding some.
Good luck with your trades buddy!
Thank You
  • #141,539
  • Jul 1, 2009 3:21am Jul 1, 2009 3:21am
Anyone knows how to calculate what EMA I would put on M5 chart that is equivalent to the 8EMA on the 4H chart?

Much appreciated
  • #141,540
  • Jul 1, 2009 3:21am Jul 1, 2009 3:21am
added a short from 1.6445 and it's doing so well till now , targets would be around 1.6250 ( hope it will get there today )
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Olu