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Cable Update (GBPUSD)

  • #69,181
  • Jun 5, 2008 4:23am Jun 5, 2008 4:23am
Quoting de123
and who can tell me here that the downtrend didnt end at 1.9484?...
go with your system bro, if your system say downtrend has end then go long, you can't ask no one here, you do have a system right? then stick with it, can't nobody here help you but yourself.
If I Go Broke Trying Then I Will die happy.
  • #69,182
  • Jun 5, 2008 4:25am Jun 5, 2008 4:25am
Quoting Moe
go with your system bro, if your system say downtrend has end then go long, you can't ask no one here, you do have a system right? then stick with it, can't nobody here help you but yourself.
......
its just money
  • #69,183
  • Jun 5, 2008 4:29am Jun 5, 2008 4:29am
back to bed, 7am is the big news
If I Go Broke Trying Then I Will die happy.
  • #69,184
  • Jun 5, 2008 4:32am Jun 5, 2008 4:32am
Quoting tarektm
it's risky to take a trade from here.
it's better to miss a trade than to get a loss.
This downtrend is very strong....i reckon best to buy at 1.9362, the bottom ..and hope it bounces 50 pip SL buying right now asking for trouble i think

looks as if 1.8 level will be seen ...the high 1.98 might not be seen for a while, highs are getting lower and lows are getting lower
  • #69,185
  • Jun 5, 2008 4:34am Jun 5, 2008 4:34am
Quoting fxswing
Trading isn't about avoiding losses, but about trading probabilities and managing risk.If market gives an opportunity to win on a trade, then it can't be with 0% risk.

Risk vs reward is what trading is all about, it's not about having free lunch and being 100% right all the time, no matter how hard it is to accept...
i am not talking about 0% risk.
i am talking about 10-20% risk.
  • #69,186
  • Jun 5, 2008 4:48am Jun 5, 2008 4:48am
Yeah buddy Timberrrrrrrrrr
Don't Get Bitter, Get Better
  • #69,187
  • Jun 5, 2008 4:50am Jun 5, 2008 4:50am
Bounce Now ?
Verily, in every difficulties there is relief
  • #69,188
  • Jun 5, 2008 4:53am Jun 5, 2008 4:53am
i decide to long

stp @ 19445
Verily, in every difficulties there is relief
  • #69,189
  • Jun 5, 2008 5:00am Jun 5, 2008 5:00am
long 9470
  • #69,190
  • Jun 5, 2008 5:04am Jun 5, 2008 5:04am
Quoting nAVIN2007
This downtrend is very strong....i reckon best to buy at 1.9362, the bottom ..and hope it bounces 50 pip SL buying right now asking for trouble i think

looks as if 1.8 level will be seen ...the high 1.98 might not be seen for a while, highs are getting lower and lows are getting lower
i agree it might reach 1.936
and down to 1.91 maybe,
but it's not likely to go for 1.8 in this month.
  • #69,191
  • Jun 5, 2008 5:05am Jun 5, 2008 5:05am
guys going long .. amuse me .. oops sorry educate me ... the charts (and fundamentals) scream short on weekly, daily, 4 hourly - why would you still feel long - i mean a trend which has taken shape last few days - is it going to get over in the next 10 mins ?
  • #69,192
  • Jun 5, 2008 5:06am Jun 5, 2008 5:06am
Ive got accompany

Quoting tomaz55
long 9470
Verily, in every difficulties there is relief
  • #69,193
  • Jun 5, 2008 5:08am Jun 5, 2008 5:08am
Quoting tarektm
i agree it might reach 1.936
and down to 1.91 maybe,
but it's not likely to go for 1.8 in this month.
yes thats what i mean ......if 1.936 break then ..the bias for cable is to go towards this long term target of 1.8..

1.96 was a heavy support and the minute that broke longs beyond this level is very risky...
what might happen is we go to 1.93 area bounce toward 1.96 and back down again to try break support
  • #69,194
  • Jun 5, 2008 5:12am Jun 5, 2008 5:12am
Quoting gmohata
guys going long .. amuse me .. oops sorry educate me ... the charts (and fundamentals) scream short on weekly, daily, 4 hourly - why would you still feel long - i mean a trend which has taken shape last few days - is it going to get over in the next 10 mins ?
for about 70 pips retracement absolutely. could even retrace 150 pips. you think cable just goes down in a straight line?
  • #69,195
  • Jun 5, 2008 5:14am Jun 5, 2008 5:14am
if you see some resistance at 1.9460 it doesn't mean a change in the trend.

but there is a 38% resistant area on the 4 hours chart based on weekly pivot.
it might break easily.

Quoting gmohata
guys going long .. amuse me .. oops sorry educate me ... the charts (and fundamentals) scream short on weekly, daily, 4 hourly - why would you still feel long - i mean a trend which has taken shape last few days - is it going to get over in the next 10 mins ?
That's 100% Correct
  • #69,196
  • Jun 5, 2008 5:16am Jun 5, 2008 5:16am
Quoting gmohata
guys going long .. amuse me .. oops sorry educate me ... the charts (and fundamentals) scream short on weekly, daily, 4 hourly - why would you still feel long - i mean a trend which has taken shape last few days - is it going to get over in the next 10 mins ?
That is the technicalist & fundamentalist difference, we dont wait for a news release, we just saw a retrace ment and make decision
Verily, in every difficulties there is relief
  • #69,197
  • Jun 5, 2008 5:17am Jun 5, 2008 5:17am
Quoting tarektm
if you see some resistance at 1.9460 it doesn't mean a change in the trend.

but there is a 38% resistant area on the 4 hours chart based on weekly pivot.
it might break easily.



That's 100% Correct
actually its 23% daily chart
Verily, in every difficulties there is relief
  • #69,198
  • Jun 5, 2008 5:20am Jun 5, 2008 5:20am
what we see this week doesn't happened often, maybe once or twice a year.
it's a change in the market, and the feeling of trading against the trend in this period is what is making people loose.

and the trend might go down without retracement at this period.
  • #69,199
  • Jun 5, 2008 5:20am Jun 5, 2008 5:20am
look at what happened to NZD today - the bank left rates unchanged and yet NZD/USD fell almost 200 pips - thats the mood in the market now - most central banks were waiting for 6 months for this day to come - i.e. fed talking about the dollar value - it happened 2 days back - so i expect all other central banks to help the fed here and help themselves in the process. I dont believe they will do or say anything which is going to go dollar negative at this stage

my 2 cents only
  • #69,200
  • Jun 5, 2008 5:23am Jun 5, 2008 5:23am
for me no entry before the GBP rate news
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