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Cable Update (GBPUSD)

  • #92,421
  • Oct 20, 2008 1:13am Oct 20, 2008 1:13am
here we come , taking out 1/2 for 33 pips. nice start for the day
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  • #92,422
  • Oct 20, 2008 2:03am Oct 20, 2008 2:03am
I nearly lost hope that the H&S on 4hr will ever play its role,
I have been waiting for the fifth day now, and ....
Jesus Christ is my only Lord !
  • #92,423
  • Oct 20, 2008 2:08am Oct 20, 2008 2:08am
don't worry bro, when it's time. it'll move
  • #92,424
  • Oct 20, 2008 2:12am Oct 20, 2008 2:12am
Quoting Yacob Hassan
anyone going long gbpusd now?
not now, maybe later
Twitter: @forexpokerpro
  • #92,425
  • Oct 20, 2008 2:18am Oct 20, 2008 2:18am
looking to go south
  • #92,426
  • Oct 20, 2008 2:32am Oct 20, 2008 2:32am
hiya

up trend still in progress... next resistance (very strong one) 1.7507 and target after that 1.7522
When life gives you lemons, make lemonade
  • #92,427
  • Oct 20, 2008 2:54am Oct 20, 2008 2:54am
Hi Guys

Still in the process of developing my strategy and I have to ask: When you know there is a strong resistance coming up, like the one now at 17507/25, do you guys tend to withdraw from a winning position and wait for it to break or do you sit in there and watch it test? eg, it now pulls back.. do you get out or wait for more?
Ride the Bulls bearback!
  • #92,428
  • Oct 20, 2008 2:54am Oct 20, 2008 2:54am
How u guys doin???
Just started my GBP/USD weekly...few hours back and now up abt +40 pips...See how this can fare this week,,, last week was +300 pips

Sonic
  • #92,429
  • Oct 20, 2008 2:59am Oct 20, 2008 2:59am
Quoting micho
hiya

up trend still in progress... next resistance (very strong one) 1.7507 and target after that 1.7522
Did not reach 1.7510 hmmm?
  • #92,430
  • Oct 20, 2008 3:01am Oct 20, 2008 3:01am
nice one bro, em up for 98 pis for the moment.
  • #92,431
  • Oct 20, 2008 3:09am Oct 20, 2008 3:09am
Quoting alcando
Hi Guys

Still in the process of developing my strategy and I have to ask: When you know there is a strong resistance coming up, like the one now at 17507/25, do you guys tend to withdraw from a winning position and wait for it to break or do you sit in there and watch it test? eg, it now pulls back.. do you get out or wait for more?


there are alot of resistances/supports to pick from... but this one was the 38% Fibonacci of the last big daily trend

for the target its the 3rd target of the trend that started this morning... draw Fibonacci extensions on the 15M from the point where the trend started at the 2:45 AM candle (swing low 1.7298) and the first top it made at the 5:00 AM candle (swing hight 1.7394 which is the first bear candle) then make the retracement to the maximum retracement it did in the 5:45 AM candle retracement 1.7362 then you get 3 take profit levels which are 1.7422, 1.7459 and 1.7522. see how the price reacts on these levels, if they break they become small support if they dont break the trend will retrace a bit and try it again usually
When life gives you lemons, make lemonade
  • #92,432
  • Oct 20, 2008 3:10am Oct 20, 2008 3:10am
Quoting fxpinoy
Did not reach 1.7510 hmmm?
well 1.7507 is a strong resistance thats why it didnt continue
When life gives you lemons, make lemonade
  • #92,433
  • Oct 20, 2008 3:22am Oct 20, 2008 3:22am
It is like the southward movement will start up soonest. How down can it go?
  • #92,434
  • Oct 20, 2008 3:30am Oct 20, 2008 3:30am
Quoting peulthai
It is like the southward movement will start up soonest. How down can it go?
the short term trend was up, supports at 1.7460, 1.7430, 1.7405 and 1.7380
When life gives you lemons, make lemonade
  • #92,435
  • Oct 20, 2008 3:31am Oct 20, 2008 3:31am
but dont short now cause we are still going up most likely
When life gives you lemons, make lemonade
  • #92,436
  • Oct 20, 2008 3:37am Oct 20, 2008 3:37am
Quoting micho
but dont short now cause we are still going up most likely
Thanks pal
  • #92,437
  • Oct 20, 2008 3:42am Oct 20, 2008 3:42am
Quoting peulthai
Thanks pal
When life gives you lemons, make lemonade
  • #92,438
  • Oct 20, 2008 3:44am Oct 20, 2008 3:44am
Quoting micho
what TP for GU in your view?
  • #92,439
  • Edited 3:46am Oct 20, 2008 3:45am | Edited 3:46am
Hi all.Nice day.I closed that long because we are almost at S3 line.We bounce again from daily Gann and now bouncing on 15 m gann on downside.We are in OB area so for me short only when we are below that 15 Gann for start.will it go more down will see.But 4 hr candle has bulish momentum so maybe bouncing a little before US session.I will back then most likly.Comp will running with alarms on but i will bee away.For now 15m shows this as retrace.We need confrm for down.

See ya all and trade well
  • #92,440
  • Oct 20, 2008 3:47am Oct 20, 2008 3:47am
Micho i see you are the man now on forum!So i can rest now.
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