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Cable Update (GBPUSD)

  • #93,681
  • Oct 24, 2008 3:49am Oct 24, 2008 3:49am
Quoting eohater
Here's yesterday's chart for me. I hope it helps.
Hello Eohater,

Can you show me how do you find those level 1 and 2 support and resistance?

Thanks!
  • #93,682
  • Oct 24, 2008 3:59am Oct 24, 2008 3:59am
There is talk of further co-ordinated rate cuts again today... more action to come...
Ride the Bulls bearback!
  • #93,683
  • Oct 24, 2008 4:01am Oct 24, 2008 4:01am
11 hours for 800 pips, this GU is insane.
  • #93,684
  • Oct 24, 2008 4:01am Oct 24, 2008 4:01am
Quoting dakrusha
truthfully we are more likely to find a bottom at 1.5.
you can prob expect to see a pretty strong bounce there. poss as much as 1000 or more pips before it returns back to 1.5 to retest and possibly go lower.
hello mate,am a newbies i know the overall trend is down am a little bit confused sholud i still sell?price is at 1.5521 now.thanks
  • #93,685
  • Oct 24, 2008 4:10am Oct 24, 2008 4:10am
hey all i'm broke.. $600 loss for just 3 days..hopefully i have BEP and withdraw it from my initial deposited..so $600 is all my profit..good trade all!
wish me luck!
  • #93,686
  • Oct 24, 2008 4:11am Oct 24, 2008 4:11am
Quoting enoh james a
hello mate,am a newbies i know the overall trend is down am a little bit confused sholud i still sell?price is at 1.5521 now.thanks
if you search retrace you'll be like me now..
wish me luck!
  • #93,687
  • Oct 24, 2008 4:12am Oct 24, 2008 4:12am
hey dakrusa,
got a bs @ 5600 wat do u say?
  • #93,688
  • Oct 24, 2008 4:14am Oct 24, 2008 4:14am
This is rally crazy
  • #93,689
  • Oct 24, 2008 4:15am Oct 24, 2008 4:15am
Guys where is strong support now? Anyone?
  • #93,690
  • Oct 24, 2008 4:18am Oct 24, 2008 4:18am
Guys, look at the charts - GJ is down over 1200 pips in one day!!! And the dollar is way overvalued but it is THE shit now... who can possibly trade in this kind of environment?
  • #93,691
  • Oct 24, 2008 4:18am Oct 24, 2008 4:18am
Support? Who knows. I'm yet to close my shorts. I'd like 1.5414.
1.5500 seems to be a bit of a sticking point.
  • #93,692
  • Oct 24, 2008 4:23am Oct 24, 2008 4:23am
This is insane - gold under 700, oil @ $64.5, EU @ 2 year low. Forget it, no support anywhere in sight.
  • #93,693
  • Oct 24, 2008 4:24am Oct 24, 2008 4:24am
Quoting PipGal
Guys where is strong support now? Anyone?
just following this thread occasionally...my two cent: support? As if the pairs have cared much about so called supports and resistances lately....

If you look at the chart, monthly, you may think, well...here could be a solid ground...just to see it falling through like a rocket....840 so far in one day...please...this is, as said before here, simply ridiculous.... and after a drop of about 1000 Pips already in the past days, who could have expected this? This has absolutely nothing to do anymore with market, fundamentals, ratio, etc....this is just nuts...."normal" fair trading is not possible anymore
  • #93,694
  • Oct 24, 2008 4:24am Oct 24, 2008 4:24am
Quoting spintrader
Support? Who knows. I'm yet to close my shorts. I'd like 1.5414.
1.5500 seems to be a bit of a sticking point.
I expect that to break in the next 15 - 20 minutes.
Take what you can... Give nothin back.
  • #93,695
  • Oct 24, 2008 4:25am Oct 24, 2008 4:25am
sh*t I was in short from 5872 and got out at 5855 then back in again at 5717 and out again at 5650. Should have just let it ride CRAP CRAP CRAP, but have taekn some pips so should not complain.

I think we must have found a bottom around here 5490, she can't just go straight down forever, or can she?
please DON'T copy my trades I am still learning
  • #93,696
  • Oct 24, 2008 4:25am Oct 24, 2008 4:25am
Hi everyone,
My system indicates that the rebound is for today or at least, GBP/USd will stop going south. It has reached a monthly oversold level that has always generated a pull back the last 30 years.This bottom is located at 1.5482. The unavoidable collapse of the dollar everyone has been talking about is about to start.
  • #93,697
  • Oct 24, 2008 4:26am Oct 24, 2008 4:26am
Quoting 4rexLady_de
just following this thread occasionally...my two cent: support? As if the pairs have cared much about so called supports and resistances lately....

If you look at the chart, monthly, you may think, well...here could be a solid ground...just to see it falling through like a rocket....840 so far in one day...please...this is, as said before here, simply ridiculous.... and after a drop of about 1000 Pips already in the past days, who could have expected this? This has absolutely nothing to do anymore with market, fundamentals, ratio, etc....this is just nuts....\"normal\" fair trading is not possible anymore
I know..but I missed the down move and want to enter a safe short, but now it is way too risky
  • #93,698
  • Oct 24, 2008 4:28am Oct 24, 2008 4:28am
Quoting Subdude
This is insane - gold under 700, oil @ $64.5, EU @ 2 year low. Forget it, no support anywhere in sight.
yep...here is some major manipulation going on if you ask me...because these kind of moves and prices on oil and gold are anything but "normal"....I mean - come on...all the big funds etc., must be done with selling at some point...so who else is left to sell whatever currency?? And why buy bucks? The data from the US are at least as worse as anywhere else...maybe even more since the whole sh...started there...
  • #93,699
  • Oct 24, 2008 4:29am Oct 24, 2008 4:29am
Is the rumuor of the NYSE shutting today valid?

I got out of this trade too early, I now keep trying to get in when I see movement (incase of retrace) but each time 3x I get stopped out at 25. Stupid I know but I have wiped out most of my gains... On a day like this it doesn't pay to be an idiot.
Ride the Bulls bearback!
  • #93,700
  • Oct 24, 2008 4:29am Oct 24, 2008 4:29am
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