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Cable Update (GBPUSD)

  • #78,621
  • Jul 29, 2008 12:41pm Jul 29, 2008 12:41pm
ECO
Quote
I'm getting my longs together on this end. I've moved my entry point up to 1.9770. Looking for a nice ride upward!




pull the trigger and let's hope the lurker was wrong !
  • #78,622
  • Jul 29, 2008 12:42pm Jul 29, 2008 12:42pm
Anyone care for the domino theory...30min takes down the hr, the hr takes down the 4hr, ....
  • #78,623
  • Jul 29, 2008 12:42pm Jul 29, 2008 12:42pm
Quoting nAVIN2007
believe me whatever the impact there is on US ecomony..in UK it will be far worse, already utility bills are increased by 25% average in UK.people are struggling and if oil keep going up ...ecomony will be doomed.....US dollar will have to revive inorder for situation to improve.and this is what is happenning..

technically ..there is no way the charts are saying up! ..
people are talking about ABCD pattern which as far as im concern looking come into play once the high is taken out then neckline needs to break...otherwise all wishfull thinking
I see your point, but with a sharp down move like today it is most likely to retract to at least the 50% fibo. and i am only looking for 30 pips. Seems Ill have to buy again at MPP
  • #78,624
  • Jul 29, 2008 12:43pm Jul 29, 2008 12:43pm
We will retrace though, all in good time. Easy to get over anxious
  • #78,625
  • Jul 29, 2008 12:45pm Jul 29, 2008 12:45pm
Quoting bkg102665
I am looking for some retracement back to 1.9835 and then maybe 1.9860, just my opion but we have had around 170 pip movement for the day already that is why I am thinking retracement.
I will take my beating NOW as I was dead wrong with the retracement idea!!!
Please ask questions and share your experiences with us all!
  • #78,626
  • Jul 29, 2008 12:45pm Jul 29, 2008 12:45pm
The only thing that gives my long a hope is the euro is coming down too and the press says it's due for a 1.60 again...

So it's the USD thats driving this and it frankly it ain't worth it
  • #78,627
  • Jul 29, 2008 12:48pm Jul 29, 2008 12:48pm
Quoting Runway Trade
I see your point, but with a sharp down move like today it is most likely to retract to at least the 50% fibo. and i am only looking for 30 pips. Seems Ill have to buy again at MPP
if it retraces here then it might cancel the bearish move....traders wanted to short but the ema and trendlines need to breach...if it retraaces here then we back to square one.....

those ema gonna cause a lot of issues..i reckon tomorrow 1.96 will be seen ... around 1.9627 i might go long..
  • #78,628
  • Jul 29, 2008 12:51pm Jul 29, 2008 12:51pm
wow what a sell off, some decent price action at long last!! euro has been seriously taken a beating against sterling and dollar,

cable moving back into range now, was at extreme near 2.00, no real sign of break out yet, play the range again i guess until 19400 or above 200 really open up....
Trading is 80% Emotional, 20% Technical
  • #78,629
  • Jul 29, 2008 12:51pm Jul 29, 2008 12:51pm
Quoting nAVIN2007
if it retraces here then it might cancel the bearish move....traders wanted to short but the ema and trendlines need to breach...if it retraaces here then we back to square one.....

those ema gonna cause a lot of issues..i reckon tomorrow 1.96 will be seen ...

The way things are going I reckon 196 today.

Bloody hell ... Pan Thi Lund I wish I was on this train I closed already ...
  • #78,630
  • Jul 29, 2008 12:54pm Jul 29, 2008 12:54pm
I have noticed last couple of months GBP and Euro got dumped the week of NFP reporting and then got huge boost after the NFP report.
Same happenning this time also.
It will fall 200 to 300 pips by Thursday and then recover most or half of it after the NFP result.
I was bearish with this from 1.99 but got out early at 1.9888.
Maybe next time I will try to be little patience.
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  • #78,631
  • Jul 29, 2008 12:56pm Jul 29, 2008 12:56pm
Ok ..... hmmm
Long at 1.9767 again....
1st quarter of my grid, means there should be some retracement. Good time of day for that as well.
I've been wrong before though
  • #78,632
  • Jul 29, 2008 12:57pm Jul 29, 2008 12:57pm
Quoting poweredbuyer
The way things are going I reckon 196 today.

Bloody hell ... Pan Thi Lund I wish I was on this train I closed already ...
i know what u mean .....missed the plane, boat and train....i didnt even see the plattforms, oh well better than a loss...

plenty would have bought at a dip and got screwed this week..
  • #78,633
  • Jul 29, 2008 12:59pm Jul 29, 2008 12:59pm
This is what I see playing out for the next couple of weeks.
I will keep posting this daily chart with my funny little symbols so..... as it develops you guys won't think I am retro.

I'll either look like a genius or good and stupid!
Attached Image (click to enlarge)
Click to Enlarge Name: july 29.JPG Size: 164 KB
  • #78,634
  • Jul 29, 2008 12:59pm Jul 29, 2008 12:59pm
I'll be pretty surprised if it goes much lower today. Eur open it could for sure though.
USD Est Non Mortuus
  • #78,635
  • Jul 29, 2008 12:59pm Jul 29, 2008 12:59pm
Quoting DJ4x
Ok ..... hmmm
Long at 1.9767 again....
1st quarter of my grid, means there should be some retracement. Good time of day for that as well.
I've been wrong before though

a man with a plan ....
  • #78,636
  • Jul 29, 2008 1:00pm Jul 29, 2008 1:00pm
Ok, thats it cable hit the down trend channel limit on H4. it should move up from now, and test the uplimit again.
i hope that i'm still holding the idot position i netred it at 1.9885...
i really don't know what the **** that make me clsoe the short and open long at that point...
anyway thats the market some day you have to loss money to learn more and avoid the mistakes...
  • #78,637
  • Jul 29, 2008 1:00pm Jul 29, 2008 1:00pm
Quoting nAVIN2007
i know what u mean .....missed the plane, boat and train....i didnt even see the plattforms, oh well better than a loss...

plenty would have bought at a dip and got screwed this week..

If we don't close above 9830 then 196 100% tommorow
  • #78,638
  • Jul 29, 2008 1:01pm Jul 29, 2008 1:01pm
Quoting poweredbuyer
If we don't close above 9830 then 196 100% tommorow

Notice the Kiwi and Aussie stayin alive


Im long on the aussie
  • #78,639
  • Jul 29, 2008 1:02pm Jul 29, 2008 1:02pm
Quoting Abuawad
Ok, thats it cable hit the down trend channel limit on H4. it should move up from now, and test the uplimit again.
i hope that i'm still holding the idot position i netred it at 1.9885...
i really don't know what the **** that make me clsoe the short and open long at that point...
anyway thats the market some day you have to loss money to learn more and avoid the mistakes...

this is the first time i hear u in a bit of bother with the trade...hopefully the last time too ..goodluck bro
  • #78,640
  • Jul 29, 2008 1:04pm Jul 29, 2008 1:04pm
Quoting poweredbuyer
If we don't close above 9830 then 196 100% tommorow
150% agree
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