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Cable Update (GBPUSD)

  • #69,101
  • Jun 4, 2008 6:45am Jun 4, 2008 6:45am
Quoting FxChi
I'm still long. The lows need to be broken for me not to be long right now.
Still thinking of Long
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  • #69,102
  • Jun 4, 2008 6:47am Jun 4, 2008 6:47am
Quoting FxChi
I'm still long. The lows need to be broken for me not to be long right now.
I am also still long since last night and I have 3 positions open at 1.9580, 1.9573 and 1.9591 last night. I was just wondering during London fix, this pair may go up to 1.96 as this pair was falling continuously in London Session and ranging particularly between 1.9555-1.9575 for the last 7 hours and I am pissed off because every day this pair goes up and down during the whole London Session but I understand that this pair had very pressure of Ausie/Pound and its PMI services got bad too.

I kept my finger crossed and would really want to close my positions ASAP. Bernanke's speach at 2:45pm eastern time may take this pair up as he doesn't speak everytime in favor of Dollar. He already favor with Dollar yesterday so this time his own style will compel him to talk against Dollar.

I was stopped out last night in my 4 positions when the crazy thing happend in 10 minutes dropped from 1.9610 - 1.9560 and I was trying to change my SL while the pair was dropping like hell and I finally I couldn't save my SL.
  • #69,103
  • Jun 4, 2008 6:49am Jun 4, 2008 6:49am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting Mr.Sabah
Still thinking of Long
Yep still long. 1.9534 needs to be broken, once broken my hopes and reams fall down the drain and I'll be depressed for the rest of the day and may never trade again. LOL...just kidding.
"Wishful thinking dies hard." Igor T.
  • #69,104
  • Jun 4, 2008 7:03am Jun 4, 2008 7:03am
Quoting asyed4

I kept my finger crossed and would really want to close my positions ASAP. Bernanke's speach at 2:45pm eastern time may take this pair up as he doesn't speak everytime in favor of Dollar. He already favor with Dollar yesterday so this time his own style will compel him to talk against Dollar.

if he does that he will look like a fool
its not a game after all where one day he has a point of view while the next he changes it
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #69,105
  • Jun 4, 2008 7:07am Jun 4, 2008 7:07am
Quoting salah k.
if he does that he will look like a fool
its not a game after all where one day he has a point of view while the next he changes it
I agree that if he does talk about the dollar at all, he will try to be consistent with himself. He might try to circumvent the issue altogether, in which case it will not affect the dollar. After all, he has an obligation to the nation and to the financial world to keep his story straight.
Expected the unexpected
  • #69,106
  • Jun 4, 2008 7:09am Jun 4, 2008 7:09am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
C'mon bulls. You can doooooooooooo it!!!! I see divergences all over the place and lower tf's candle formations for a push up at support. Where's the reversal when you need one.
"Wishful thinking dies hard." Igor T.
  • #69,107
  • Jun 4, 2008 7:35am Jun 4, 2008 7:35am
Potential support down to 9500:

9526-17 region Dly S2
9520 breecehd 23.6% 0026-9362,

9502/05 prev 4hr swing hi/lo area

Mni talking about '...medium bids to 9520 more at 9501/00, stronger bids at 9480'
ex member
  • #69,108
  • Jun 4, 2008 8:02am Jun 4, 2008 8:02am
Quoting Moe
sup warta
Suppin warta when I can sup beer ? no way...by gum, ecky thump are kid
  • #69,109
  • Jun 4, 2008 8:21am Jun 4, 2008 8:21am
Quoting Moe
im off to the office, may the pips be with all of you and good luck
sup moe
lol what a stupid market today
verrry boring
  • #69,110
  • Jun 4, 2008 8:24am Jun 4, 2008 8:24am
What's up with this thread lately? It seems most of the posts are all G/U long only. Look at your charts, seems like an established down trend and a well defined range, until the range is broken or the major trend line is broken then we see more of the same. Nothing new as far as market action I can see. All the hoping and wishing won't do a thing. Welcome to summer trading.
  • #69,111
  • Jun 4, 2008 8:37am Jun 4, 2008 8:37am
Cable

1.9520 Median Line on 4hour chart
1.9519 FE 161.8 w2c internal wave projection
1.9550 61.8% Retracement w22 (retracement of w1)
1.9510 Channel Bottom (Downtrend) 4hour chart
1.9577 - 1.9470 Bullish Pattern on the 4hour chart
1.9550; 1.9520 and 1.9473 Mouteki and DeMark 4hour Chart Targets

And like FxChi has mentioned, Divergence is allover the place .

Just waiting for return to the UPTREND now.
  • #69,112
  • Jun 4, 2008 8:42am Jun 4, 2008 8:42am
Quoting allserene
Suppin warta when I can sup beer ? no way...by gum, ecky thump are kid
If I Go Broke Trying Then I Will die happy.
  • #69,113
  • Jun 4, 2008 8:43am Jun 4, 2008 8:43am
Quoting warta
sup moe
lol what a stupid market today
verrry boring
very boring
If I Go Broke Trying Then I Will die happy.
  • #69,114
  • Jun 4, 2008 8:46am Jun 4, 2008 8:46am
Moe, are you still here
Don't Get Bitter, Get Better
  • #69,115
  • Jun 4, 2008 8:47am Jun 4, 2008 8:47am
Quoting NuB
Moe, are you still here
yep
If I Go Broke Trying Then I Will die happy.
  • #69,116
  • Jun 4, 2008 8:50am Jun 4, 2008 8:50am
What trade style do you favor, scalp or swing??
Don't Get Bitter, Get Better
  • #69,117
  • Jun 4, 2008 8:53am Jun 4, 2008 8:53am
Quoting XLInvestor
What's up with this thread lately? It seems most of the posts are all G/U long only. Look at your charts, seems like an established down trend and a well defined range, until the range is broken or the major trend line is broken then we see more of the same. Nothing new as far as market action I can see. All the hoping and wishing won't do a thing. Welcome to summer trading.
Are you sure - looking at the daily chart, the bottoms were around 1.9411 on jan 21 feb 20 and May 13 - we could be headed there again I agree but we keep hitting it and bouncing back up and it is a clear floor just now

Until that breaks there is no downtrend and the floor has been firm since jan 21
  • #69,118
  • Jun 4, 2008 8:56am Jun 4, 2008 8:56am
Quoting NuB
What trade style do you favor, scalp or swing??
swing, i shoot for 100+ pips per trade i was short 9610 was hoping in a market like this it will hit 1.9510 where i clould get out with 100 pips.
If I Go Broke Trying Then I Will die happy.
  • #69,119
  • Jun 4, 2008 8:58am Jun 4, 2008 8:58am
later i gots to go,
If I Go Broke Trying Then I Will die happy.
  • #69,120
  • Jun 4, 2008 9:03am Jun 4, 2008 9:03am
Quoting Moe
swing, i shoot for 100+ pips per trade i was short 9610 was hoping in a market like this it will hit 1.9510 where i clould get out with 100 pips.
Thats what Im talkin bout
Don't Get Bitter, Get Better
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