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Cable Update (GBPUSD)

  • #39,441
  • Nov 12, 2007 5:40pm Nov 12, 2007 5:40pm
Quoting Scrat
i don't understand why people want to go long without a reversal pattern. it's like saying "i can't believe it would go lower"; well, it can.
i am still keeping my shorts and will exit ONLY when i see a reversal sign.
Keeping my shorts open from 2.1088.
Humble Lifetime Member
  • #39,442
  • Nov 12, 2007 5:41pm Nov 12, 2007 5:41pm
good morning...

Quoting fxtrendline
wow the bears come out ...now my support at 2.0257...we'll see gbp going to that level or no ......
Nihil Sine Deo.
  • #39,443
  • Nov 12, 2007 5:50pm Nov 12, 2007 5:50pm
Quoting Moe
w.t.f. you guys or going long, i just don't see it, good luck to all who went long. maybe im wrong so be it.
i repeat, just don't see it.
If I Go Broke Trying Then I Will die happy.
  • #39,444
  • Nov 12, 2007 6:09pm Nov 12, 2007 6:09pm
daily chart, fib on previous swings.
i expect this daily wave to go to at least 2.0227 (0.618 fib) before another correction on daily timeframe. if the downtrend is strong, we should expect 1.9651 broken during this daily wave and a possible target might be 1.9241.
as a trading strategy, wait for a retracement on h4, and then open/reload shorts.
Attached Image (click to enlarge)
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Nihil Sine Deo.
  • #39,445
  • Nov 12, 2007 6:10pm Nov 12, 2007 6:10pm
you're not the only one.

Quoting Moe
i repeat, just don't see it.
Nihil Sine Deo.
  • #39,446
  • Nov 12, 2007 6:21pm Nov 12, 2007 6:21pm
i see my bed, night
  • #39,447
  • Nov 12, 2007 6:52pm Nov 12, 2007 6:52pm
Fundamentals against the dollar are still there. Beaurocrats in Japan already talking about the yen going up too fast, and don't forget uncle Ben !!!! If the Dow starts to whine too much he's gonna helicopter money and cut rates. I got caught last time....not gonna make the same mistake twice.
For he that would be deceived, let him.
  • #39,448
  • Nov 12, 2007 8:05pm Nov 12, 2007 8:05pm
Quoting Scrat
daily chart, fib on previous swings.
i expect this daily wave to go to at least 2.0227 (0.618 fib) before another correction on daily timeframe. if the downtrend is strong, we should expect 1.9651 broken during this daily wave and a possible target might be 1.9241.
as a trading strategy, wait for a retracement on h4, and then open/reload shorts.
thats what im talking about, what goes up must come down, plus cable was just too high for the brits, i don't think the brits realy like it being that high.
If I Go Broke Trying Then I Will die happy.
  • #39,449
  • Nov 12, 2007 9:13pm Nov 12, 2007 9:13pm
Quoting Qu|cksilver
Long GU Long...
looking good hope you took some profit.
If I Go Broke Trying Then I Will die happy.
  • #39,450
  • Nov 12, 2007 9:21pm Nov 12, 2007 9:21pm
Quoting Moe
looking good hope you took some profit.
I don't know bro.... currently +72 pips.. Hope you , me and other traders in profit no matter long or short.. Forex can be everything...
"Invest With The Insiders, Not The Masses" George Muzea
  • #39,451
  • Nov 12, 2007 10:05pm Nov 12, 2007 10:05pm
Quoting Qu|cksilver
I don't know bro.... currently +72 pips.. Hope you , me and other traders in profit no matter long or short.. Forex can be everything...
Amen brother... Amen.
Don't worry, life's too short
  • #39,452
  • Nov 12, 2007 10:17pm Nov 12, 2007 10:17pm
Quoting Toleot
Amen brother... Amen.

...Amen
"Invest With The Insiders, Not The Masses" George Muzea
  • #39,453
  • Nov 12, 2007 10:27pm Nov 12, 2007 10:27pm
I am still holding on my short from 2.1130.. .. any idea where it will head to today? possible 2.0200?
  • #39,454
  • Nov 12, 2007 10:33pm Nov 12, 2007 10:33pm
depends. i was waiting for a retracement, and if i see a reversal pattern i will open long positions targeting at least 0.382 level - 2.0766, although 0.618 - 2.0916 is a more realistic one.

Quoting need4swift
I am still holding on my short from 2.1130.. .. any idea where it will head to today? possible 2.0200?
Nihil Sine Deo.
  • #39,455
  • Nov 12, 2007 10:33pm Nov 12, 2007 10:33pm
Quoting need4swift
I am still holding on my short from 2.1130.. .. any idea where it will head to today? possible 2.0200?
your asking this pair to drop from 2.0600 to 2.0200, 400 pips, if you don't have no idea where it's going then i suggest you close your trade.
If I Go Broke Trying Then I Will die happy.
  • #39,456
  • Nov 12, 2007 11:39pm Nov 12, 2007 11:39pm
Quoting Moe
your asking this pair to drop from 2.0600 to 2.0200, 400 pips, if you don't have no idea where it's going then i suggest you close your trade.
Pls comment in general here. In July cabel toped out and the retracted to Fib 38.2% on the dailyand then surged again to our last high. Now retracted to Fib 23.6%. The question now is will it retract further to 38.2% or is retractment done and going in search of new highs? Pls your comment
  • #39,457
  • Nov 12, 2007 11:52pm Nov 12, 2007 11:52pm
Quoting Runway Trade
Pls comment in general here. In July cabel toped out and the retracted to Fib 38.2% on the dailyand then surged again to our last high. Now retracted to Fib 23.6%. The question now is will it retract further to 38.2% or is retractment done and going in search of new highs? Pls your comment
From my technical analysis.. we are going to see new high.
"Invest With The Insiders, Not The Masses" George Muzea
  • #39,458
  • Nov 13, 2007 12:12am Nov 13, 2007 12:12am
Quoting Qu|cksilver
From my technical analysis.. we are going to see new high.
Yeah... it's looking more and more possible now

G/U basically did a quick reset and has shifted back upward

I'll be waiting for the news to confirm it and US market today
  • #39,459
  • Nov 13, 2007 12:13am Nov 13, 2007 12:13am
seems to have hit resistance at FIB 38.2% on 1H. Maybe it will test the lows again before heading north!?
  • #39,460
  • Nov 13, 2007 2:05am Nov 13, 2007 2:05am
Long cable..
"Invest With The Insiders, Not The Masses" George Muzea
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