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Cable Update (GBPUSD)

  • #87,521
  • Sep 12, 2008 3:19am Sep 12, 2008 3:19am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Should stall here at 7709. Retrace to 7646 is my prediction before moving on again.
"Wishful thinking dies hard." Igor T.
  • #87,522
  • Sep 12, 2008 3:27am Sep 12, 2008 3:27am
targets for the day?
I recommend you read something else as this sentence is now concluded.
  • #87,523
  • Edited 3:44am Sep 12, 2008 3:36am | Edited 3:44am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting Obaidah
targets for the day?
Daily targets were at 7671 and 7709 which already have been reached. Now we're gunning for 7835 and 7873. Double bottom is in play IMO.

Side note: I think lots of shorts are exiting their positions fueling this run up.

Forgot to mention the dollar is losing a lot of ground this morning too. And I still see further downside. Dollar index has met its downside daily targets, and looks like it's breaking below those targets so still further room for cable to hit its upside targets.
"Wishful thinking dies hard." Igor T.
  • #87,524
  • Sep 12, 2008 3:45am Sep 12, 2008 3:45am
Good morning everone. My short on the Eur last night is Kiiiiilling me haha... I hope this thing is done soon. I only hope and pray that the US reports this morning arent bad.
Lets do this...
  • #87,525
  • Sep 12, 2008 3:49am Sep 12, 2008 3:49am
Short 1.7735.
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #87,526
  • Sep 12, 2008 3:53am Sep 12, 2008 3:53am
Quoting manize
Short 1.7735.
I should have been entered here - not ealier
Jesus Christ is my only Lord !
  • #87,527
  • Sep 12, 2008 3:54am Sep 12, 2008 3:54am
happy trading guys!!
  • #87,528
  • Sep 12, 2008 3:57am Sep 12, 2008 3:57am
Quoting manize
Short 1.7735.
good job but id pout it on break even....i think we are heading out of this
  • #87,529
  • Sep 12, 2008 4:01am Sep 12, 2008 4:01am
aken partial profits on my longs, will look to increase back to normal position size if I get another signal
PIPPED TO THE LINE
  • #87,530
  • Sep 12, 2008 4:06am Sep 12, 2008 4:06am
now closed all. It might go up, but looks like it will fall a little bit first
PIPPED TO THE LINE
  • #87,531
  • Sep 12, 2008 4:07am Sep 12, 2008 4:07am
cable monthly nice bounce of 50% level near 1.7440

move to 18330 area would be nice before any down trend resumes

heard rumours of a FED cut potentially around 1.30pm UK time but take that with pinch of salt!
Attached Image (click to enlarge)
Click to Enlarge Name: Cable Monthly.JPG Size: 178 KB
Trading is 80% Emotional, 20% Technical
  • #87,532
  • Edited 4:31am Sep 12, 2008 4:18am | Edited 4:31am
I came in the thread and warned everyone that a reverse was possible, but they were still all crying short, short. Yea, well they are really crying now. We are getting Monthly bounces across the board.

Jim


Quoting fx local
cable monthly nice bounce of 50% level near 1.7440

move to 18330 area would be nice before any down trend resumes

heard rumours of a FED cut potentially around 1.30pm UK time but take that with pinch of salt!
  • #87,533
  • Sep 12, 2008 4:18am Sep 12, 2008 4:18am
nice chart above. in terms of fib retrace levels on ay extended recovery, it's the fibs of the following moves that may or not figure:

2.1162-1.7447
2.0835-7447
2.0396-1.7447
----------------

current down trend

0157-7447
8795-7447
7974-7447 [23.6, 38.2 and 50% already breeched to upside, 61.8% next at 7772]

g/l
ex member
  • #87,534
  • Sep 12, 2008 4:21am Sep 12, 2008 4:21am
Quoting hard1head1
I came in the thread and told everyone that a reverse was possible, but they were still all crying short, short. Yea, well they are really crying now. We are getting Monthly bounces across the board.

Jim

Good call Jim... I was around when you posted that well done
Lets do this...
  • #87,535
  • Sep 12, 2008 4:24am Sep 12, 2008 4:24am
You guys think this support is huge, you need to look at the E/J Monthly. There is a huge rejection there. Up 300 pips on this carry.

Jim
  • #87,536
  • Sep 12, 2008 4:26am Sep 12, 2008 4:26am
There are 2000 pips in this next Weekly/Monthly up move on EJ.
  • #87,537
  • Sep 12, 2008 4:27am Sep 12, 2008 4:27am
Quoting hard1head1
I came in the thread and told everyone that a reverse was possible, but they were still all crying short, short. Yea, well they are really crying now. We are getting Monthly bounces across the board.

Jim
u want some kind of medal!! blue peter badge for u buddy!! only joking!
Trading is 80% Emotional, 20% Technical
  • #87,538
  • Sep 12, 2008 4:35am Sep 12, 2008 4:35am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting fx local
cable monthly nice bounce of 50% level near 1.7440

move to 18330 area would be nice before any down trend resumes

heard rumours of a FED cut potentially around 1.30pm UK time but take that with pinch of salt!
Interesting you mentioned that: http://money.cnn.com/2008/09/10/news...look/index.htm
"Wishful thinking dies hard." Igor T.
  • #87,539
  • Sep 12, 2008 4:36am Sep 12, 2008 4:36am
Quoting fx local
u want some kind of medal!! blue peter badge for u buddy!! only joking!

all speculation every1 knew it was possible yet nobody had the balls to place a buy there, or very few anyways..im finding the reality in trading is people can know whats happening but doing it is another thing alltogether

like now how can know for sure if we sink or breakout..

trading is all about if u can carry out yur convictions and mental strength..some hectic shit huh?
Attached Image (click to enlarge)
Click to Enlarge Name: picturebmp.JPG Size: 169 KB
  • #87,540
  • Sep 12, 2008 4:36am Sep 12, 2008 4:36am
short at 7710. it will go down hard!
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