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Cable Update (GBPUSD)

  • #85,641
  • Sep 3, 2008 3:51am Sep 3, 2008 3:51am
4X roll over today
  • #85,642
  • Sep 3, 2008 3:52am Sep 3, 2008 3:52am
short 7719
  • #85,643
  • Sep 3, 2008 3:58am Sep 3, 2008 3:58am
Quoting belekas
Hello mate ;-)
hi bro
  • #85,644
  • Sep 3, 2008 4:03am Sep 3, 2008 4:03am
I have made +17pps

on the long
Jesus Christ is my only Lord !
  • #85,645
  • Sep 3, 2008 4:13am Sep 3, 2008 4:13am
Quoting bbmac
I was reading a few market commentators over the last few days stating their thinking that contraray to conventional wisdom; If the BOE/Mpc do lower rates on Thursday, the market instead of selling £ (after an initial knee jerk reaction maybe) might take it as a sign that the BOE is being more proactive about the possibility of a recession and inspire confidence thus buying £.

interesting viewpoint, time will tell.

G/l.
yep interesting, could well be opp to sell from bounce!! i think they alll given up on sterling, they need to to drop to revive the UK! not taking its account into inflation! it will be interesting how sentence votes after three times voting for a hike...
Trading is 80% Emotional, 20% Technical
  • #85,646
  • Edited 4:20am Sep 3, 2008 4:17am | Edited 4:20am
can it form H&S up side down
or double lows ?

5 min chart
Jesus Christ is my only Lord !
  • #85,647
  • Sep 3, 2008 4:34am Sep 3, 2008 4:34am
again
Jesus Christ is my only Lord !
  • #85,648
  • Sep 3, 2008 4:36am Sep 3, 2008 4:36am
Quoting hipcio
again

hope u win it
Never sell @ lower upward channel unless breacked and vise versa .
  • #85,649
  • Sep 3, 2008 4:46am Sep 3, 2008 4:46am
Quoting hipcio
can it form H&S up side down
or double lows ?

5 min chart

Of course it can ! The trick is to tell which end is the head and which is the ass.
It's not as easy to trade an Ass & Shoulders formation. You gotta be quick.
  • #85,650
  • Sep 3, 2008 4:47am Sep 3, 2008 4:47am
Quoting hipcio
again
I'm curious as to your reasoning behind going long here?

Just wondering if you see something I don't
  • #85,651
  • Sep 3, 2008 4:50am Sep 3, 2008 4:50am
A little covering underway. How long it lasts is anyone's guess.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.JPG Size: 64 KB
  • #85,652
  • Sep 3, 2008 4:57am Sep 3, 2008 4:57am
The chart shows the fib retrace levels of the principle swings on the daily chart from the 2.1162 high late last year. The 2.0157 being the top of this current downtrend with a mnor lower swing high at that 8799area on the daily chart.

Add the fibs to the previous swing low areas on the 4hr chart and upwards and you've got potentially stronger sbr zones (support becomes resistance) on any extended pullback/recovery.

G/l
Attached Image
ex member
  • #85,653
  • Sep 3, 2008 5:03am Sep 3, 2008 5:03am
Quoting Verto
I'm curious as to your reasoning behind going long here?

Just wondering if you see something I don't
but I see reversal ?
Jesus Christ is my only Lord !
  • #85,654
  • Sep 3, 2008 5:08am Sep 3, 2008 5:08am
I usually scalp and I have +30pps
Jesus Christ is my only Lord !
  • #85,655
  • Sep 3, 2008 5:16am Sep 3, 2008 5:16am
It took to much time for me
I am not acustomed to profits like this
I usually take 7-10pps

I belive it will go up
Jesus Christ is my only Lord !
  • #85,656
  • Sep 3, 2008 5:20am Sep 3, 2008 5:20am
possible reversal for gbpusd?
I recommend you read something else as this sentence is now concluded.
  • #85,657
  • Sep 3, 2008 5:22am Sep 3, 2008 5:22am
okay, I got it going to 1.7702 in about 15 minutes (6:37 AM est)
and then either we break there and test 7640 or we bounce there and
begin a reversal for the day - mayber 100 pips.
  • #85,658
  • Sep 3, 2008 5:24am Sep 3, 2008 5:24am
short @ 7728
  • #85,659
  • Sep 3, 2008 5:27am Sep 3, 2008 5:27am
I am thinking it will get up to 7760/70 area, SMA for 1h, then start another drop.
Take what you can... Give nothin back.
  • #85,660
  • Sep 3, 2008 5:31am Sep 3, 2008 5:31am
7764-94 looks like the first real upside hurdle for cable on any continued pullback/recovery from current 7665 area lows
ex member
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