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Cable Update (GBPUSD)

  • #72,501
  • Jun 25, 2008 9:37pm Jun 25, 2008 9:37pm
Quoting John D
Look at the 15M chart. You have your clue


Trade to trade well!
Look at M15, M30, H1 tempted to go long. Wait for new H4 candle more perfectly.
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #72,502
  • Jun 25, 2008 9:44pm Jun 25, 2008 9:44pm
Hello everyone! I've been catching up on the posts since the US Session closed.

My 2 cents, I've been short since 1.9745 and looking to hold til 1.9685 (will adjust accordingly, fearing the 1.9725 area) If we can't break through this level around 1.9680 we're taking off like a rocket ship north to 1.98 or beyond!

Happy trading everyone and let's make some green pips!
Just digging in the trenches like everyone else!
  • #72,503
  • Jun 25, 2008 10:20pm Jun 25, 2008 10:20pm
Can anybody thinking long please explain why they think cable has enough oomph to break all these TL on the daily. Should it not be going down from here to 1.9420? What makes cable trong enough to break the down trend now?
Attached Image (click to enlarge)
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  • #72,504
  • Jun 25, 2008 10:23pm Jun 25, 2008 10:23pm
Quoting nAVIN2007
dont get excited guys ...we are the top of the range ....i see yoyo happening now ...
let's hope the top isn't broken, then we can go all down again

i prefer shorts anywhere here, best around yesterdays top
stop above 1.9810
why?
because 1.9800 was a target for a long time now, and there are a lot of stops up there.
but maybe the price might not reach it,
but if it break it, that means an up trend is in play.
  • #72,505
  • Jun 25, 2008 10:25pm Jun 25, 2008 10:25pm
Quoting Runway Trade
Can anybody thinking long please explain why they think cable has enough oomph to break all these TL on the daily. Should it not be going down from here to 1.9420? What makes cable trong enough to break the down trend now?
take a look at the bigger frames,
you could find charts in my thread in my signature.
  • #72,506
  • Jun 25, 2008 10:26pm Jun 25, 2008 10:26pm
In the short term I suppose it could go up to 1.9760 and low of 1.9660??
Attached Image (click to enlarge)
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  • #72,507
  • Jun 25, 2008 10:32pm Jun 25, 2008 10:32pm
Quoting tarektm
take a look at the bigger frames,
you could find charts in my thread in my signature.
Bigger then daily? Weekly shows the same thing!
  • #72,508
  • Jun 25, 2008 10:33pm Jun 25, 2008 10:33pm
Quoting Runway Trade
Bigger then daily? Weekly shows the same thing!
weekly shows we are on a big support line below, that we might bounce up for more than 1000 pips.

or break down for the more than 1000 pips also.
  • #72,509
  • Jun 25, 2008 10:41pm Jun 25, 2008 10:41pm
Ok
Not sure on MPC committee meeting but Melvin dose need to let everyone know he will raise rates if required so can not afford to be too dovish.
Existing homes number will not be positive based on yesterday’s new home sales like last month the numbers were bang on the money at a bottom but still edging lower.
Price has not been rejected from the daily falling TL yet I mean its had its touch and is still haging around.
Cable can run on sentiment alone and momentum is up.
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #72,510
  • Jun 25, 2008 10:48pm Jun 25, 2008 10:48pm
Cable facing trendline resistance at 1.9760. I think from 2:00 am Eastern time this pair will go towards upside because when Bernanke had less hawkish statement this afternoon then London was closed at that time. So it will impact high on Pre-hour trading until two or three hours of London Opening plus if MPC treasury commette hearing would be more hawkish then by tomorrow this pair will be sitting on at least 1.9960+ that is my opinion based on fundamentals.
Based on Forex Fibonacci Calculator, (based on Asia low and high) this pair will go to at least 1.99/1.98 level.

So I am thinking to go long with SL (100 pips) ASAP at least before 2:00 am then will see what happens next....
  • #72,511
  • Jun 25, 2008 10:51pm Jun 25, 2008 10:51pm
whose watching their 5 min chart?
Just digging in the trenches like everyone else!
  • #72,512
  • Jun 25, 2008 10:53pm Jun 25, 2008 10:53pm
Quoting eohater
whose watching their 5 min chart?
is there 5 Min charts?
  • #72,513
  • Jun 25, 2008 11:01pm Jun 25, 2008 11:01pm
Quoting tarektm
is there 5 Min charts?
I use all my charts, I begin with the montly and work down! I find each one tells a story. It's up to us to interpret the story and determine how long we're going to be holding a trade. I've set trades and road them for months. Others for less than 3 min.
Just digging in the trenches like everyone else!
  • #72,514
  • Jun 25, 2008 11:03pm Jun 25, 2008 11:03pm
Quoting eohater
I use all my charts, I begin with the montly and work down! I find each one tells a story. It's up to us to interpret the story and determine how long we're going to be holding a trade. I've set trades and road them for months. Others for less than 3 min.
i am kidding,
i do the same too
  • #72,515
  • Jun 25, 2008 11:07pm Jun 25, 2008 11:07pm
I will admit mind you we are at the top of the recent range facing strong resistance and I would not be sure that 4 hr rising tl could take another test too soon.
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #72,516
  • Jun 25, 2008 11:21pm Jun 25, 2008 11:21pm
Its 2:00 a.m. and time to fill up the Money Bin. I want to be swimming in it buy the summers end.
Don't Get Bitter, Get Better
  • #72,517
  • Jun 25, 2008 11:49pm Jun 25, 2008 11:49pm
Quoting Bones
I will admit mind you we are at the top of the recent range facing strong resistance and I would not be sure that 4 hr rising tl could take another test too soon.
what do you suggest, we will go up and break the top resistant?
  • #72,518
  • Jun 25, 2008 11:49pm Jun 25, 2008 11:49pm
One thing I have learned lately (cost me about 200 pips) DONT make/look for a trade, the trade will come to you when all is aligned! Just be patient, it will come.

I had this idea that I must make 20pips a day. then nearing the end of the day no pips I try and force a trade. We all know what happens if you force a trade. Now I just wait for all my rules to come in alignment and a make good trades. BE PATIENT, I keep telling myself!
  • #72,519
  • Edited Jun 26, 2008 12:07am Jun 25, 2008 11:52pm | Edited Jun 26, 2008 12:07am
Before move up to 1.9762, I change SL from 1.9755 to 1.9770. Just want to be myself. And now
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #72,520
  • Jun 25, 2008 11:53pm Jun 25, 2008 11:53pm
Quoting Runway Trade
One thing I have learned lately (cost me about 200 pips) DONT make/look for a trade, the trade will come to you when all is aligned! Just be patient, it will come.

I had this idea that I must make 20pips a day. then nearing the end of the day no pips I try and force a trade. We all know what happens if you force a trade. Now I just wait for all my rules to come in alignment and a make good trades. BE PATIENT, I keep telling myself!
Well done Grass Hoppa, A mistake is only good if/when you learn from it.
Don't Get Bitter, Get Better
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