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Cable Update (GBPUSD)

  • #55,321
  • Feb 21, 2008 8:58pm Feb 21, 2008 8:58pm
Too me it looks like momentum could push another green bar through the daily trend line.... NIIIIICE
  • #55,322
  • Feb 21, 2008 9:05pm Feb 21, 2008 9:05pm
Quoting Malaysia
At which time frame you are referring to?

As for me... Risk Management analysis. It's a lot RISKIER to SHORT this pair now rather than to go LONG.

Already breaking CHANNEL on Daily chart. The way I see it... It's a lot safer to be patience... just let for it to retrace... then BUY FROM DIP.

This is my PLAN from my own analysis.

T.A.Y.O.R >>>> Trade at your own risk.
yes that is precisely what I want to do. I just want to get in at a good price, so waiting for the retrace.
  • #55,323
  • Feb 21, 2008 9:40pm Feb 21, 2008 9:40pm
Quoting mazdaz
There isn't any room for the stochs to go up. LOL

Looking at the STOCH indi... see that? Eventhough it had touched the ceiling previously but the BULL still manage to go UP higher (around 100pips). Just a fruit of thought. Seeing can be deceiving sometimes.


Attached Image (click to enlarge)
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  • #55,324
  • Feb 21, 2008 9:43pm Feb 21, 2008 9:43pm
looks like we will c the first bearish candle after around 6 bullish candles.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #55,325
  • Feb 21, 2008 9:46pm Feb 21, 2008 9:46pm
This will never come down tonight...all the way to 97xx!
  • #55,326
  • Feb 21, 2008 9:52pm Feb 21, 2008 9:52pm
Quoting lessy
30pips, i know that i'm not as good as you...
but, if you had made tons of pips....
why don't you not take a vacation & have fun for weekend....
at least you could avoid the risk...
greedy is the enemy right?

PS: you don't have to listen to me buddy....
...i'm out buddy & starting my w/end already + Hennessy cognac,but i can see a clear long(at your own risk)!
  • #55,327
  • Feb 21, 2008 9:55pm Feb 21, 2008 9:55pm
7 bullish candles on the 4hr.
  • #55,328
  • Feb 21, 2008 10:30pm Feb 21, 2008 10:30pm
Quoting 30pips
...i'm out buddy & starting my w/end already + Hennessy cognac,but i can see a clear long(at your own risk)!
Pips & Hennessy.....
nice new pair......
you make me jealous...
Never Give Up.....
  • #55,329
  • Feb 21, 2008 11:18pm Feb 21, 2008 11:18pm
Looking @ 1D TF, I noticed this...
Attached Image (click to enlarge)
Click to Enlarge Name: GBP-USD PENNANT PATTERN FEB. 21 - 2008.png Size: 43 KB
  • #55,330
  • Feb 21, 2008 11:26pm Feb 21, 2008 11:26pm
Quoting Carrera
Looking @ 1D TF, I noticed this...
So I take it we're goin short
  • #55,331
  • Feb 21, 2008 11:32pm Feb 21, 2008 11:32pm
Quoting DBallerz
So I take it we're goin short
This is a long term trade. Also you must wait for break out confirmation.
For now we scalp some pips inside the triangle.

Wait for confirmation for the long term contract. Patience.
  • #55,332
  • Feb 21, 2008 11:46pm Feb 21, 2008 11:46pm
The reason I am not seeing to big a retrace is that daily fib fan, price closed through it and has now tested it I am targeting 1.9744 ,forget stoch’s they don’t work
If she retraces im expecting 1.9572 to hold.
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #55,333
  • Feb 22, 2008 12:26am Feb 22, 2008 12:26am
Quoting Carrera
This is a long term trade. Also you must wait for break out confirmation.
For now we scalp some pips inside the triangle.

Wait for confirmation for the long term contract. Patience.
But it has already broken out of the triangle to the upside. Sure, it can drop back inside it but you need to draw your trendline correctly. Look at the black line in Bones' chart, you can see that price broke thru the triangle as of today.
  • #55,334
  • Feb 22, 2008 12:33am Feb 22, 2008 12:33am
I think that GU and EU are gonna retrace first before the next rise. Just to eat some tasty SLs of all the early bulls. Think it's too dangerous to go bullish on either now, unless you don't care putting a large SL and waiting for the longer term rise. Just my opinion of course.
On the path to Enrichment.
  • #55,335
  • Feb 22, 2008 12:40am Feb 22, 2008 12:40am
Why hasn't cable dropped, the greenback has been getting hammered........
  • #55,336
  • Feb 22, 2008 12:54am Feb 22, 2008 12:54am
Quoting DBallerz
Why hasn't cable dropped, the greenback has been getting hammered........
Um, 'cause that would make the cable go up.
  • #55,337
  • Feb 22, 2008 12:59am Feb 22, 2008 12:59am
1.9560 looks interesting.....
Biggest joker
  • #55,338
  • Feb 22, 2008 1:23am Feb 22, 2008 1:23am
2nd bearish candle on a 4h chart forming.
looks like a possible retracement but im not sure about going under 9580 that is even if it reached that point.

not much southern momentum.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #55,339
  • Feb 22, 2008 1:33am Feb 22, 2008 1:33am
i shorted. 9560 here we come!
And your mouth dropped
  • #55,340
  • Feb 22, 2008 1:45am Feb 22, 2008 1:45am
Quoting Trillionaire
But it has already broken out of the triangle to the upside. Sure, it can drop back inside it but you need to draw your trendline correctly. Look at the black line in Bones' chart, you can see that price broke thru the triangle as of today.

Don't take everything as exact mesure, example, when we said price is bouncing @ 61% fibo, it doesn't have to be EXACTLY @ 61%. It could be arround that area.
The pattern that I showed had arround 1,800 pips!!! If my tren line is 20 or 30 pips off from where you want to see it, What is the difference? I just showing the big picture.
Now, I do pay attention how this last candle will close today. It could be very high from the triangle or close to it as a diji. If close as a doji or maybe inside it, who knows. When its close, I analyze my next move. Let's see.

I had show a posibble exenario of what could happen, not what will happen. I don't move the market with my charts, hehe, I wish.

Take care and good trading.
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