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Cable Update (GBPUSD)

  • #28,881
  • Sep 4, 2007 10:41am Sep 4, 2007 10:41am
Quoting bullrock
WTF we stucked again in a triangle

UJ is testing again the 382 Fib from the 124.13 -> 111.57 fall.

It's not easy, be patient!
  • #28,882
  • Sep 4, 2007 10:43am Sep 4, 2007 10:43am
Quoting Warper
UJ is testing again the 382 Fib from the 124.13 -> 111.57 fall.

It's not easy, be patient!
I used to say that
.
  • #28,883
  • Sep 4, 2007 10:49am Sep 4, 2007 10:49am
Have to wait atleast 30min to see some movement.. hopefully goung down
"Invest With The Insiders, Not The Masses" George Muzea
  • #28,884
  • Sep 4, 2007 10:53am Sep 4, 2007 10:53am
Quoting Qu|cksilver
Have to wait atleast 30min to see some movement.. hopefully goung down

I'm not in the market right now, but why do you say that?

With that kind of thinking we will be sideways forever. Don't you expect resume or reversal at some point?

Why always sideways kind of entries and sideways kind of exits?

Just asking...
  • #28,885
  • Sep 4, 2007 10:54am Sep 4, 2007 10:54am
Quoting Qu|cksilver
Have to wait atleast 30min to see some movement.. hopefully goung down
  • #28,886
  • Sep 4, 2007 10:58am Sep 4, 2007 10:58am
Market need to rest after moving up and down, up and down.. At the moment market haven't reach the support point so basically still going down. But tomorrow will be bullish day..

Quoting Warper
I'm not in the market right now, but why do you say that?

With that kind of thinking we will be sideways forever. Don't you expect resume or reversal at some point?

Why always sideways kind of entries and sideways kind of exits?

Just asking...
"Invest With The Insiders, Not The Masses" George Muzea
  • #28,887
  • Sep 4, 2007 11:05am Sep 4, 2007 11:05am
Hi guys:

If you look at you 1H chart you will see cable holding just around support at 2.0109. Also look at the datas (US data) coming out this week. Cable looks very bearish.
I think the next leg down is the 2.0040 area which is the 1.618 FIB from the first bear run and the 1.236 fib from todays bear leg also in line with the next level of support. This could happen when Asia opens.

ANY COMMENTS?
  • #28,888
  • Sep 4, 2007 11:06am Sep 4, 2007 11:06am
Quote
EURO is kicking like 12 cylinders under the hood, lolz, not that fast really, but its a very good retrace, lets see

Its indeed in angry mood, lolz
never expected it to shoot like this
Hello World!
  • #28,889
  • Sep 4, 2007 11:11am Sep 4, 2007 11:11am
http://img106.imageshack.us/img106/68/ujxc2.jpg

This last move started with the help of ISM and.. near the lower triangle line.

That's not bottom enough?

Euro made an imperfect double bottom but a valid one.

Just like i said... i waited from this hour to make my analysis. Price is droping right now, so i'm staying in the side lines, but with another big push i don't know if i will wait more.

I'm just hoping for this to make a trend or reversal move, before NFP...

No more sideways please! Make up your minds NOW!!! LoL
  • #28,890
  • Sep 4, 2007 11:11am Sep 4, 2007 11:11am
If this week is going to be a zigzag week I am going to mass kill everyone around me
.
  • #28,891
  • Sep 4, 2007 11:12am Sep 4, 2007 11:12am
Quoting bobbyfx
Hi guys:

If you look at you 1H chart you will see cable holding just around support at 2.0109. Also look at the datas (US data) coming out this week. Cable looks very bearish.
I think the next leg down is the 2.0040 area which is the 1.618 FIB from the first bear run and the 1.236 fib from todays bear leg also in line with the next level of support. This could happen when Asia opens.

ANY COMMENTS?

I would say the 2.0005 area.
  • #28,892
  • Sep 4, 2007 11:22am Sep 4, 2007 11:22am
retracement done..., tp hit...
now go back to your daily path... bearish...
To be or not to be, that's the question
  • #28,893
  • Sep 4, 2007 11:28am Sep 4, 2007 11:28am
Maverick,

that is correct, the 2.0005 is the 1.618fib extention of the most recent bear run but initial target should be at the next level of support which is 2.0040. Expect a retracement to 2.0133-47 area before the next leg down.
  • #28,894
  • Sep 4, 2007 11:31am Sep 4, 2007 11:31am
Quoting bullrock
If this week is going to be a zigzag week I am going to mass kill everyone around me

No no don't worry, last week, was the zigzag week, but this week, cable decided to do something new and different as I mentioned earlier this week, it is acting " You go your way and I'll go mine"
i.e. if you find any signs for going short, and you open a short trade, so it will go to the opposite direction, and vise versa
I now have 2 long trades
2.0148 with no SL
2.0087 SL @ BE
1-If it went as my bias so thank you cable I love you so much

2-if it kept on going down and killed my SL @ BE, I won't close the other one, and will keep it open, but will try to place more long trades @ better prices
2.0042 is an important figure for cable, if broken it will help the cable in it's south journey, but 2.0018 if broken it will give me a clear and safe sign for placing short trades, I'll be hedging if case number 2 is the one to work
  • #28,895
  • Sep 4, 2007 11:36am Sep 4, 2007 11:36am
Hello cable come to my 2.0148 long trade, I feel like closing it @ BE if it reached and open another on at better price or wait to watch
  • #28,896
  • Sep 4, 2007 11:40am Sep 4, 2007 11:40am
I survived last week with a lot of profit and a lot of loss ending in the positive... Hopefully this week will leave me in the green too.
.
  • #28,897
  • Sep 4, 2007 11:42am Sep 4, 2007 11:42am
It jumped back to that &$(*&£(*$&£*($&£(* trendline...
.
  • #28,898
  • Sep 4, 2007 11:43am Sep 4, 2007 11:43am
Quote
If this week is going to be a zigzag week I am going to mass kill everyone around me

You made me laugh man,

BTW, I was short too, but BEs have been hit thus I'm 1% up

ROFL

Hello World!
  • #28,899
  • Sep 4, 2007 11:43am Sep 4, 2007 11:43am
Quoting bobbyfx
Maverick,

that is correct, the 2.0005 is the 1.618fib extention of the most recent bear run but initial target should be at the next level of support which is 2.0040. Expect a retracement to 2.0133-47 area before the next leg down.

Where do you suppose the next leg down would be?
  • #28,900
  • Sep 4, 2007 11:45am Sep 4, 2007 11:45am
Quoting pino2
Hello cable come to my 2.0148 long trade, I feel like closing it @ BE if it reached and open another on at better price or wait to watch

BE VERY CAREFUL WITH THOSE LONG TRADES.

Cable should hover around the 2.0133-47 area for a while with a possibility of a run to 2.0167 area until it can find further direction. Use your FIBS they work wonders.
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