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Cable Update (GBPUSD)

  • #81,681
  • Aug 12, 2008 5:16am Aug 12, 2008 5:16am
Quoting NuB
I don't know about you Micho, but I'm tired of saying Down. If people want to go long let them. The money we make selling has to come from someone that wants to buy.
mouhouhouhahahahahaha whwuhauhauwhwua
When life gives you lemons, make lemonade
  • #81,682
  • Aug 12, 2008 5:17am Aug 12, 2008 5:17am
Quoting de123
we are going up from here, either u like that or dont...
of course you will go up, but till when?? hehehe 50 pips?? 100 pips??? then we will go back down 30000 pips
When life gives you lemons, make lemonade
  • #81,683
  • Aug 12, 2008 5:25am Aug 12, 2008 5:25am
The weekly chart below shows the area of the previous swing highs on that chart at which cable has found support today, area also of weekly S1 pivot and the 50% extension of yesterdays pip range, 8965-75, low being 8966 bid at time of writing.

Potential double bottom here and a doji candle just formed on 4hr,...I guess anyone currently long will feel better on any upside breech of that 9080/85 area. With U.s data due later showing potentially $ weak forecasts, that may be a possibility?

Bit rangy now sub 15min
Attached Image (click to enlarge)
Click to Enlarge Name: ff.gif Size: 17 KB
ex member
  • #81,684
  • Aug 12, 2008 5:37am Aug 12, 2008 5:37am
ok let him go long as much as you want i dont care if you lose your money
When life gives you lemons, make lemonade
  • #81,685
  • Aug 12, 2008 5:38am Aug 12, 2008 5:38am
However,
There WENT the idea of breaking...

The 1/4's again: PUNKED by the Bear's!
2-0 Bear's vs. Bulls,
on... 1.9025

-Maybe was a test like 'shark bumping your arm in 'water!
I will work to Objectively Identify my Edges
  • #81,686
  • Aug 12, 2008 5:47am Aug 12, 2008 5:47am
Of course the truth is, we or any one else for that matter have no idea whether this is a retrace/pullback/, extended retrace/pullback, or out and out reversal in £ at this 8966 current bottom, and for this reason alone it sure as hell isn't worth fighting over, lol.

All you can do is trade your plan/analysis and let probabilities of your trading edge take care of your P&L.

The fact is though that all trend do retrace/pullback and indeed reverse and there is some evidence to suggest that this may be the case here. That said the reatraces/pullbacks so far in this sell off from 2.0150 have been relatively minor generally finding resistance at broken areas of support....Will this happen again, ...I have no idea, lol.

G/l all.
ex member
  • #81,687
  • Aug 12, 2008 5:57am Aug 12, 2008 5:57am
True BBMac,

The only "loss" henceforth incurred today was
my "short" on UJ's over-extended drive. (It kept
hitting that Quin-Tuplet/8 time bottom @1.0985

-Thank GOD for 2% money mgmt skill(s)!
I was able to double up & recover!
-(Cable woulda had me billaging blood, all over the boat here!) !

I'm up now, seeing the 1/4's are getting "Rammed" by Cable,
or it's just DollA's just plain tired. !
Enjoying the Match...
I will work to Objectively Identify my Edges
  • #81,688
  • Aug 12, 2008 6:23am Aug 12, 2008 6:23am
Quoting gammase1
I agree and that's why I'm out for a while. As a wise man once said to me "don't try to pick bottoms, otherwise you'll get smelly fingers"

As for the discussion over whether oil is leading dollar or vice versa, I think in recent days it has been oil following on from the dollar. However, in recent months, determining which is the leading force is much like wondering what came first, a chicken or the egg.

As for gold, I believe this rarely, probably never, leads the dollar's movements.
Itching to go long, because you've surmised that the pound cannot go down much further, is a temptation that is blowing up untold accounts....Confucius say, "Man who go to bed with an itchy butt, wake up with smelly fingers!"
Attached Image
  • #81,689
  • Aug 12, 2008 6:40am Aug 12, 2008 6:40am
Good Morning everyone. I hope everyone's accounts are growing.
I just wanted to drop by, say hello and see what is going on.

Looks like quite a few are still getting bloodied up by Cable

And a few are in the Green pips

I miss Moe, and wish he was back...

I hope everyone that has been losing money finds a way to get it back.





G10
Enlightened.
  • #81,690
  • Aug 12, 2008 7:02am Aug 12, 2008 7:02am
Quoting notme32
WELCOME 1.9000
set and build long now for me

Welcome 2.4000..........
I Deeply Love My Virtual Life In Virtual World , RLC
  • #81,691
  • Aug 12, 2008 7:11am Aug 12, 2008 7:11am
as the screenshot below shows of the 5min chart, 8966-9025 are the extremes of the intraday congestion now, the majority of price action occuring in the 8977-9019 area.

U.s trade bal data due in 15/20mins may have a say in near term direction?
Attached Image
ex member
  • #81,692
  • Aug 12, 2008 7:16am Aug 12, 2008 7:16am
Quoting TerpFan2
'Morning Gang...
Or, 'Afternoon lunch time 'guess...

Navin & Carrera,
That bleeding cable i thought had had enough. I want dibs,
in the sequel Carrera! Great call on Selah's "Short" @the highest
point possible. It looked like the entire planet "Shorted" @Cable's height.

Some Figures i see... from 'charts:
A ballpark 40/50% "Retrace" of today's move already happened,
@1.9024 "Ish", that is IF today's bottom's inked.
(She just couldn't turn the 1/4's!).

However... For 12hr's of time...
I'm seeing some convergence that would possibly take us
back up above water to 1.9069 "Ish" for 35% of 12hr's time.
Again- IF today's bottom, IS the bottom for 12hr's time.
And MAYBE, just MAYBE that daily candle will burn Navin,
w/Some LOUSY U.S. Trade balance?
Good luck on this bloody cable,

Jeff !
Hey, whatsss up bro!

Cable is acting by the book, technicaly predectible.

Watch your longs, we still have the presure from sellers. They just add on retracements (up) more to the short way.
  • #81,693
  • Aug 12, 2008 7:19am Aug 12, 2008 7:19am
Quoting notme32
set and build long now for me

Welcome 2.4000..........
Jeez, u crack me up.
Nobody believed you when you first called it.
Well done
  • #81,694
  • Aug 12, 2008 7:20am Aug 12, 2008 7:20am
GM guys, another day, another trade.

Let's see what US bring today.
  • #81,695
  • Aug 12, 2008 7:21am Aug 12, 2008 7:21am
Quoting DJ4x
Jeez, u crack me up.
Nobody believed you when you first called it.
Well done
i thought he was joking
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #81,696
  • Aug 12, 2008 7:33am Aug 12, 2008 7:33am
good news after the other from USA
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #81,697
  • Aug 12, 2008 7:34am Aug 12, 2008 7:34am
News favorable to USD. Will the downward movement continue!
  • #81,698
  • Aug 12, 2008 7:41am Aug 12, 2008 7:41am
I smell daily pins on Eur usd & usd-chf-
and cable mabe a daily hammer or even a pin which would be great
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #81,699
  • Aug 12, 2008 7:46am Aug 12, 2008 7:46am
An alternative for buyers will be above 1.9240 with the targets 1.9280/1.9300, 1.9320/40.
{Promotion Removed}
  • #81,700
  • Aug 12, 2008 7:58am Aug 12, 2008 7:58am
Quoting bitrader
An alternative for buyers will be above 1.9240 with the targets 1.9280/1.9300, 1.9320/40.
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