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Cable Update (GBPUSD)

  • #63,861
  • May 2, 2008 3:29am May 2, 2008 3:29am
we had a perfect retracement to 61% level .....if and only we break this neckline the move up will be massive....might lead to 2.04 ..it will be a fantastic trade and whats needed to breakout of the sandwich

the big player will be looking at this for sure me feels

any comments or views?
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  • #63,862
  • May 2, 2008 3:31am May 2, 2008 3:31am
(uk) Apr Construction Pmi:

46.1 V 47.0e
  • #63,863
  • May 2, 2008 3:35am May 2, 2008 3:35am
i think you are right nav. GBP is gonna rocket if it breaks 19845
  • #63,864
  • May 2, 2008 3:36am May 2, 2008 3:36am
Quoting priceaction
(uk) Apr Construction Pmi:

46.1 V 47.0e
its quite funny to see all these negative news on bloomberg n then the reporter moves to the charts to expect a drop in GBPUSD but then its up lol.
  • #63,865
  • May 2, 2008 3:39am May 2, 2008 3:39am
Quoting nAVIN2007
we had a perfect retracement to 61% level .....if and only we break this neckline the move up will be massive....might lead to 2.04 ..it will be a fantastic trade and whats needed to breakout of the sandwich

the big player will be looking at this for sure me feels

any comments or views?
I don't know about 2.04. But it's optimistic.
  • #63,866
  • May 2, 2008 3:39am May 2, 2008 3:39am
here it goes! strap in for the ride up!!
  • #63,867
  • May 2, 2008 3:41am May 2, 2008 3:41am
Quoting nAVIN2007
we had a perfect retracement to 61% level .....if and only we break this neckline the move up will be massive....might lead to 2.04 ..it will be a fantastic trade and whats needed to breakout of the sandwich

the big player will be looking at this for sure me feels

any comments or views?
of course, just a little comment, u are now more optimistic than me :

moves have been very violent this morning with $, i dont know what to think, maybe the end of bullish $? hope so
  • #63,868
  • Edited 3:49am May 2, 2008 3:45am | Edited 3:49am
I suspect we are going higher
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #63,869
  • May 2, 2008 3:56am May 2, 2008 3:56am
hello freaks

i am long from 9760, until 9960, then i will reverse at 9961
  • #63,870
  • May 2, 2008 3:59am May 2, 2008 3:59am
Quoting Spoony
its quite funny to see all these negative news on bloomberg n then the reporter moves to the charts to expect a drop in GBPUSD but then its up lol.
Spoony,

It's all part & parcel of this business. Wins & losses. Even Soros has them and only fools laugh when he gets it wrong.

Thankfully my net 670 pips on 1-3 lots so far this week make me very happy. I hope you've been just as profitable.

After your 2nd post, welcome to the Forum. We're looking forward to seeing your constructive analysis

Rob
  • #63,871
  • May 2, 2008 4:11am May 2, 2008 4:11am
Quoting hirek
of course, just a little comment, u are now more optimistic than me :

moves have been very violent this morning with $, i dont know what to think, maybe the end of bullish $? hope so

anything can happen buddy ..but u have to give yourself the belief to see thing thou ...this is something im finding very hard, i keep second guessing myself...and when i stick it through it all goes wrong what to do ...
  • #63,872
  • May 2, 2008 4:20am May 2, 2008 4:20am
Nav, still holding from yesterday ??? biggest winning trade so far if so

Up channel is holding, looks weak, but who knows how long it'll go on for.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #63,873
  • May 2, 2008 4:25am May 2, 2008 4:25am
Took care of some of my profits yesterday with a loss today. News drove the pair up. Looking to sell at the top...... It happens, Guys.

Jim

Quoting hard1head1
Pair has been hanging around the 23.6% fib level about halfway thru the 4 hr triangle some of us are watching. It could go either way so I have my eye on the 5 minute chart looking for a bounce or signal to which way it will go. So far my techs are saying it will finish the move down since it is below the 89 SMA and the daily pivoy, but it MAY want to come back to the 61% Level.

Jim 80%-20% Short
  • #63,874
  • May 2, 2008 4:26am May 2, 2008 4:26am
Quoting hard1head1
Took care of some of my profits yesterday with a loss today. News drove the pair up. Looking to sell at the top...... It happens, Guys.

Jim
Where do you think you think will be the top?
Expected the unexpected
  • #63,875
  • May 2, 2008 4:27am May 2, 2008 4:27am
This thing is going to trigger some limits soon, Euro is already there.
  • #63,876
  • May 2, 2008 4:28am May 2, 2008 4:28am
Quoting hard1head1
This thing is going to trigger some limits soon, Euro is already there.

Are you expecting both gbp and euro to go up? What limits is gbp triggering?
Expected the unexpected
  • #63,877
  • May 2, 2008 4:31am May 2, 2008 4:31am
Quoting Turveyd
Nav, still holding from yesterday ??? biggest winning trade so far if so

Up channel is holding, looks weak, but who knows how long it'll go on for.

nah i got out ...a friend advised me that non farm is very dangerous and credit crunch, traders being sack will result in movement ...he was thinking down....i got scared and balled.....only cause i dont have the experience to even know how non farm affectes the market, i though i rather play it safe than find myself in a big mess....so i exit at loss £5

i made a profit so far this week of £30 at least im starting to make something, so its positive anyway, cause i cant hold myself in winning position which is actually harder than keeping a losing one for me ...im wierd.....i find myself scalping to make something..go figure
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  • #63,878
  • May 2, 2008 4:34am May 2, 2008 4:34am
Sorry, crystal ball broken.... Seriously, we have retraced beyond the 76 % Fib level where I usually would have sold. But it Non farm today and anyone without half a brain would be on the sidelines until about 8:45, but Im an idiot and paid dearly for it last night. I ignored the signs that if the news came out as advertised we woulf see a retracement and thats exactly what happened. We are coming up on R1 Pivot at 9885 and it may turn here, but look for an entry and confirmation on the lower charts. I would say its there now, but what do I know.

Jim


Quoting scyang
Where do you think you think will be the top?
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  • #63,879
  • May 2, 2008 4:40am May 2, 2008 4:40am
Stay away for awhile and trade the momentum of this release, Nav. Wait till the news has settled into a nice trend that sometimes forms after the release. This is one release you do not want to trade on price action at the time of release, but a good one to trade on price action after the release. This release has been know to gap 200 or more pips and spreads widen upwards of 50 +, so be carefull.

Jim
  • #63,880
  • May 2, 2008 4:44am May 2, 2008 4:44am
Cable currently in a Weekly 1hr triangle/wedge, I guess U.s NFP will decide the break up or down.

155pips Lo-Hi so far today, still below the average Daily ranges, and within the average Wkly range ahead of NFP. (y/day 197range)
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