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Cable Update (GBPUSD)

  • #76,141
  • Jul 15, 2008 9:58am Jul 15, 2008 9:58am
easy pips for eurjpy guys..its falling freely..who's buying gu? what bout u Navin?
  • #76,142
  • Jul 15, 2008 10:07am Jul 15, 2008 10:07am
yippeee. Finally some pips for all those shorts. yeah.
  • #76,143
  • Jul 15, 2008 10:09am Jul 15, 2008 10:09am
It will be interesting to see what will happen the coming days if we close below 2.00 today.

-Ambrodel
Imma do the things that i wanna do I ain't got a thing to prove to you
  • #76,144
  • Jul 15, 2008 10:13am Jul 15, 2008 10:13am
Quoting Infinity
LOL...


Doris did not say 2.0150 did she.....lol Trade your charts bro....

I was long this morning and have gotten over 150 pips on long trades so far today...... I will long again at the next opportunity. I will wait until Frankfurt and London close to see what happens.....

A retracement is due soon however as most tf are ob...
Ob conditions need to be neutralized. I think the 200sma on the day chart will be good support as it has been solid resistance previously...
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Patience + Discipline - Greed = Success
  • #76,145
  • Jul 15, 2008 10:14am Jul 15, 2008 10:14am
Quoting tarektm
Hi all
If we will see a long shadow on the daily candle today which i expect to see,

we will go down and break the limits this time.
HEY,
i am not in a short or a long position now.
but if we close in the range of the price open today,
then we should go down by tomorrow.
  • #76,146
  • Jul 15, 2008 10:16am Jul 15, 2008 10:16am
Quoting tarektm
HEY,
i am not in a short or a long position now.
but if we close in the range of the price open today,
then we should go down by tomorrow.
That will be one long nose on a pin bar if that happens.

-Ambrodel
Imma do the things that i wanna do I ain't got a thing to prove to you
  • #76,147
  • Jul 15, 2008 10:16am Jul 15, 2008 10:16am
Quoting Infinity
Ob conditions need to be neutralized. I think the 200sma on the day chart will be good support as it has been solid resistance previously...

i think 2.04 will be seen but only after 1.9813 .im looking to buy there..but im swing trading so prepared to wait
  • #76,148
  • Jul 15, 2008 10:18am Jul 15, 2008 10:18am
Yeah looks like EUR, CHF, UJ and GBP have turned at least for a bit. Similar shoving action on all 4 pairs.
There's always money in the banana stand.
  • #76,149
  • Jul 15, 2008 10:24am Jul 15, 2008 10:24am
My view has not changed.......I am buying dips.......This is just profit taking.

I think we will retest today's highs later today or tonight...US is in shit right now...
Patience + Discipline - Greed = Success
  • #76,150
  • Jul 15, 2008 10:26am Jul 15, 2008 10:26am
Somehow I think you'll have to wait longer than today or tonight. Maybe a few days. Pretty drastic downward pressure from today would have to be overcome fairly rapidly for a retest tonight. Maybe though. What I love is that no one ever truly knows anything.
There's always money in the banana stand.
  • #76,151
  • Jul 15, 2008 10:39am Jul 15, 2008 10:39am
Quoting LizardGizzard
Somehow I think you'll have to wait longer than today or tonight. Maybe a few days. Pretty drastic downward pressure from today would have to be overcome fairly rapidly for a retest tonight. Maybe though. What I love is that no one ever truly knows anything.
Patience + Discipline - Greed = Success
  • #76,152
  • Jul 15, 2008 10:39am Jul 15, 2008 10:39am
holly moses ...oil droped like nuts
  • #76,153
  • Jul 15, 2008 10:43am Jul 15, 2008 10:43am
Ha. Well, maybe "pretty drastic" was slightly bolstered terminology. But just judging by the price action. Though if we get back up over 2.0120, then I'm with you long.
There's always money in the banana stand.
  • #76,154
  • Jul 15, 2008 10:44am Jul 15, 2008 10:44am
Quoting LizardGizzard
Ha. Well, maybe "pretty drastic" was slightly bolstered terminology. But just judging by the price action. Though if we get back up over 2.0120, then I'm with you long.
long gu long
.
  • #76,155
  • Jul 15, 2008 10:49am Jul 15, 2008 10:49am
Quoting LizardGizzard
Somehow I think you'll have to wait longer than today or tonight. Maybe a few days. Pretty drastic downward pressure from today would have to be overcome fairly rapidly for a retest tonight. Maybe though. What I love is that no one ever truly knows anything.
Well said Gizzer !

That is the only thing that allows me to forgive my ignorance

Perception is that the U.S. is stuffed and W's performance on telly a few mins ago was - well he looked exhausted, dispirited, beaten and disliked and he hasn't got a clue.

He did actually own up to the fact that any oil found in the U.S. would go to the world market and not be for U.S. use only at $29 a barrel which is what the population thinks. It would increase world supply by about 1% or something and in the same period, world demand would grow 30%.

Some of the huge tall pickup trucks round here make my V6 3.5 litre Camry look like a tiny toy - those guys are paying fortunes for gas !

I am backing 2.04 for cable based on perceptions which can run away with even seasoned professionals - the truth is that the world is suffering together - though this month its seems like just the US. Make hay while the sun shines
  • #76,156
  • Jul 15, 2008 10:52am Jul 15, 2008 10:52am
Hi folks how are you all? Wanted to request input or advice from any of you in regards to counter trend trading.........let say GBP has moved in a direction close to average daily range....... how do decide to counter trade at that point? looking for candle stick confirmation? fibs? pivots? Any input along general practice even highly appreciated and specifics as well ..............
Thank you
BANDA333
  • #76,157
  • Jul 15, 2008 10:58am Jul 15, 2008 10:58am
Quoting BANDA
Hi folks how are you all? Wanted to request input or advice from any of you in regards to counter trend trading.........let say GBP has moved in a direction close to average daily range....... how do decide to counter trade at that point? looking for candle stick confirmation? fibs? pivots? Any input along general practice even highly appreciated and specifics as well ..............
Thank you
That is a very long story.
.
  • #76,158
  • Jul 15, 2008 11:02am Jul 15, 2008 11:02am
Could you please give little bit of general guidelines if it is not going to a hazel for you..................Appreciate the reply anyway

Quoting bullrock
That is a very long story.
BANDA333
  • #76,159
  • Jul 15, 2008 11:03am Jul 15, 2008 11:03am
Quoting bullrock
That is a very long story.
Good one......

HOLLA
  • #76,160
  • Jul 15, 2008 11:05am Jul 15, 2008 11:05am
Quoting BANDA
Hi folks how are you all? Wanted to request input or advice from any of you in regards to counter trend trading.........let say GBP has moved in a direction close to average daily range....... how do decide to counter trade at that point? looking for candle stick confirmation? fibs? pivots? Any input along general practice even highly appreciated and specifics as well ..............
Thank you
the easiest way to answer this question without writing a esay is ...understanding price action, and that it moves in channels....the only time i try to place counter trend trades is when we at the end of the channel...

hope that helps..
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