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Cable Update (GBPUSD)

  • #61,141
  • Apr 9, 2008 11:24pm Apr 9, 2008 11:24pm
Quoting mavewei
new 4H candle close @9775 and new candle open @9780
Go Long and TP @9852 SL @9725
Up and Down Targets (incl. 19852) are exactly the same as for yesterday so clearly an error (all other lines are different)
Darkness lies one inch ahead..
  • #61,142
  • Apr 9, 2008 11:26pm Apr 9, 2008 11:26pm
Why is GBP shooting up so high a few hours ahead of the supposed interest cut news? Is the UK government planning on surprising us? Is it a normal pre-news phenomenon?
Expected the unexpected
  • #61,143
  • Apr 9, 2008 11:28pm Apr 9, 2008 11:28pm
Hi All,

I still say we are going to at least the 61.8% fib, maybe even 9900 depending on the news.

Jim
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  • #61,144
  • Edited 12:33am Apr 10, 2008 12:21am | Edited 12:33am
I close my short for 4 pips and go short at 1.9770. TP 1.9850. SL 1.9720. Wish me luck !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #61,145
  • Apr 10, 2008 12:35am Apr 10, 2008 12:35am
Do you mean you are going long?
Expected the unexpected
  • #61,146
  • Apr 10, 2008 12:53am Apr 10, 2008 12:53am
Yes .. new H4 candle opened above 1.9771 -->1.9778. Indicate moving up.
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #61,147
  • Apr 10, 2008 12:55am Apr 10, 2008 12:55am
Anybody has any explanation why GBP is moving upwards when the assumed interest rate cut statement is due in a few hours? Does the market not take any such thing into consideration?
Expected the unexpected
  • #61,148
  • Apr 10, 2008 1:13am Apr 10, 2008 1:13am
Quoting manize
Yes .. new H4 candle opened above 1.9771 -->1.9778. Indicate moving up.
Be careful, it wasn't 4 hr candle it was 1 hr candle.
  • #61,149
  • Apr 10, 2008 1:20am Apr 10, 2008 1:20am
Quoting Krydin
Be careful, it wasn't 4 hr candle it was 1 hr candle.
It is 4H chart not 1H, but it now running lower and lower ... so bad

http://tftp.sytes.net/gbpusd2.JPG
  • #61,150
  • Apr 10, 2008 1:43am Apr 10, 2008 1:43am
why does everyone here follow a method and not trade what you see?? I do not understand this thinking, candle closes can be a good indication of direction but price action IS the direction and will always be.

be a trader and not a follower of anyone elses method, look at the charts you have not the directions from others.

good luck and happy pips to ya'll
Don't chase the market, Let the market come to you
  • #61,151
  • Apr 10, 2008 2:00am Apr 10, 2008 2:00am
Maybe there is big different between our brokers. The H4 candle at 4 o'clock opened 1,9752 by me.
  • #61,152
  • Apr 10, 2008 2:10am Apr 10, 2008 2:10am
Quoting Tmac
why does everyone here follow a method and not trade what you see?? I do not understand this thinking, candle closes can be a good indication of direction but price action IS the direction and will always be.

be a trader and not a follower of anyone elses method, look at the charts you have not the directions from others.

good luck and happy pips to ya'll
Hi Tom. Perhaps the business needs more good souls who are successful in this business and wish to give back, educate and help people see the light.

There are too many "blind leading the blind" and unsavoury characters out to screw the vulnerable.
  • #61,153
  • Apr 10, 2008 2:25am Apr 10, 2008 2:25am
When a 1H closes it's always also a 4H close.... in some timezones.
So the best bet would be to follow the timezone of charts most traders do. So which is the most used timezone for charts? To use daylight savings or not?
  • #61,154
  • Apr 10, 2008 2:26am Apr 10, 2008 2:26am
Quoting mavewei
Maybe Abuawad just change the yellow zone price but T1/2/3
No, the S/R lines are different
Darkness lies one inch ahead..
  • #61,155
  • Apr 10, 2008 2:27am Apr 10, 2008 2:27am
Quoting Krydin
Maybe there is big different between our brokers. The H4 candle at 4 o'clock opened 1,9752 by me.
See post#61147
Darkness lies one inch ahead..
  • #61,156
  • Apr 10, 2008 2:43am Apr 10, 2008 2:43am
I still sure she will move up at least the 1st target, but I' ll wait current H4 closed in what area to change my opinion. En still lucky, SL 1.9720 wasn't touched yet ! Wouw nice, seeing H1 candle shown full move up between 1.9730 - 1.9770.
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #61,157
  • Apr 10, 2008 3:17am Apr 10, 2008 3:17am
Quoting manize
I still sure she will move up at least the 1st target, but I' ll wait current H4 closed in what area to change my opinion. En still lucky, SL 1.9720 wasn't touched yet ! Wouw nice, seeing H1 candle shown full move up between 1.9730 - 1.9770.
there is rate cut today so i dont think its safe to go long plus im sure US trade balance will be a good number so fundamentally we are short.
technically we are on the 23.6 fibo line (from 2.11 to 1.93) hence it could go either way.( fundamentals should trigger the move and I think the will trigger south movement)
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #61,158
  • Apr 10, 2008 3:26am Apr 10, 2008 3:26am
Quoting salah k.
there is rate cut today so i dont think its safe to go long plus im sure US trade balance will be a good number so fundamentally we are short.
technically we are on the 23.6 fibo line (from 2.11 to 1.93) hence it could go either way.( fundamentals should trigger the move and I think the will trigger south movement)

man i hope your right otherwise im gonna lose so much..i enter on 0.4 lot size
  • #61,159
  • Apr 10, 2008 3:37am Apr 10, 2008 3:37am
Quoting nAVIN2007
man i hope your right otherwise im gonna lose so much..i enter on 0.4 lot size
IF FOR SOME REASON BOE DOESNT CUT I THINK U SHOULD CLOSE YOUR POSITION. because then cable will probably fly.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #61,160
  • Apr 10, 2008 3:45am Apr 10, 2008 3:45am
Quoting salah k.
IF FOR SOME REASON BOE DOESNT CUT I THINK U SHOULD CLOSE YOUR POSITION. because then cable will probably fly.
i banking on this trendline ..being the real deal ..if it break my ass is on demo for 6 months ..
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