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Cable Update (GBPUSD)

  • #95,981
  • Nov 6, 2008 7:23am Nov 6, 2008 7:23am
Quoting spintrader
was that addressed to me? I can't tell, if so I think you have completely missed the point. If not, I apologize and I will shut up!
Its not addressed to you, Its addressed to the big boys which I think made this Alien like H1 candle. Feel sorry to those who lose because of this news.
  • #95,982
  • Nov 6, 2008 7:26am Nov 6, 2008 7:26am
That H1 candle looks positively frightening. Talk about a damaging mixed reaction...
Ride the Bulls bearback!
  • #95,983
  • Nov 6, 2008 7:34am Nov 6, 2008 7:34am
Agreed,absolutely beautiful.Im not sure I can get a direction off it though.
I'm seeing a bounce off the lower rising Tl now confirmed as a 3 pointer,with a loverly 10 min pin ,(hammer),We now have a nice 4hr pennant.
My 4 hr closes in 30 min and ill be looking to what is printed but im thinking sideways overall for the min.




Quoting spintrader
What a candle!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4 hr cable 6-11 ,no 2.gif Size: 32 KB
Click to Enlarge Name: 10 min 6-11 no 2.gif Size: 50 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #95,984
  • Nov 6, 2008 7:37am Nov 6, 2008 7:37am
Went long 1.5880 ! Ups +30 pips hit !
Attached Image (click to enlarge)
Click to Enlarge Name: retrace051108b.gif Size: 43 KB
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #95,985
  • Nov 6, 2008 7:43am Nov 6, 2008 7:43am
Hi all.I am back.Hope you are ok and ypor accounts.On that spike down closed second short.Price respect 61 fib after that.When things cool off alittle went short again.Again 2 shorts running.All secured.

On 15 below gann.On 1 hr above,that is bad.On 4 hr below and parabolic finaly chabnge side so now bearish.Thinking in the end will go more down...Making SL so small and wait to see.If on 15 get signal for short going and hope we will test 1 hr gann at 15825 area wheare is pivot as well.If break gann on 15 on up going long to test 4hr gann 5995 area.That is the plan for now.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cable 1 hr.gif Size: 25 KB
Click to Enlarge Name: cable 4 hr.gif Size: 19 KB
Click to Enlarge Name: cable 15m.gif Size: 25 KB
  • #95,986
  • Nov 6, 2008 7:53am Nov 6, 2008 7:53am
while we wait for move one thing.i was watching CNBC NEWS today before news of rate cuts.Some guy from London (Don't know which,didn;t catch the name) said that rate cuts should move GBP on up,because USD made cuts and USD is going stronger and strongerbecause investitors are thinking that that will make US economy better for now.So when we look back USD is stronger and stronger and rates are lower and lower.Could this be true?
  • #95,987
  • Nov 6, 2008 7:57am Nov 6, 2008 7:57am
Quoting \"expert\"
while we wait for move one thing.i was watching CNBC NEWS today before news of rate cuts.Some guy from London (Don't know which,didn;t catch the name) said that rate cuts should move GBP on up,because USD made cuts and USD is going stronger and strongerbecause investitors are thinking that that will make US economy better for now.So when we look back USD is stronger and stronger and rates are lower and lower.Could this be true?
no
Patience + Discipline - Greed = Success
  • #95,988
  • Nov 6, 2008 7:57am Nov 6, 2008 7:57am
Quoting \"expert\"
while we wait for move one thing.i was watching CNBC NEWS today before news of rate cuts.Some guy from London (Don't know which,didn;t catch the name) said that rate cuts should move GBP on up,because USD made cuts and USD is going stronger and strongerbecause investitors are thinking that that will make US economy better for now.So when we look back USD is stronger and stronger and rates are lower and lower.Could this be true?
yes. That is definitely true, but it is a longterm outlook.
Rate changes take many months to take effect.
The strength of the USD that we have been seeing is arguably a result of the cuts they made 2 or more years back.
So yes, he could be right, but it's not a change that will happen immediately, not by any means.
  • #95,989
  • Nov 6, 2008 7:58am Nov 6, 2008 7:58am
Yea ,FX Local has been pointing that out ,
I would agree that could be the case,+we have US jobs tommorow which may be bad based on the earlier data this week,you know the whole picture type thing.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #95,990
  • Nov 6, 2008 8:02am Nov 6, 2008 8:02am
I was thinking too that in longer term that could make GBP stronger but not now.And i made short call from DP and targeting 1 hr gann and 5830 pivot line.
  • #95,991
  • Nov 6, 2008 8:03am Nov 6, 2008 8:03am
locked some pips already.Now waiting
  • #95,992
  • Nov 6, 2008 8:05am Nov 6, 2008 8:05am
If we don't go lower than that little 12pm spike this afternoon I'll call the bottom on this market GBP slide... 12:00 on 11/11
Ride the Bulls bearback!
  • #95,993
  • Nov 6, 2008 8:05am Nov 6, 2008 8:05am
Quoting \"expert\"
locked some pips already.Now waiting
I just closed one for 50 pips at the 15m 50...
Patience + Discipline - Greed = Success
  • #95,994
  • Nov 6, 2008 8:11am Nov 6, 2008 8:11am
Quoting Infinity
I just closed one for 50 pips at the 15m 50...
i was thinking of that too but will try for more.Can't lost.So thinking let me try for more.DP is good point fortrades in my thinking and 1 hr and 4hr parabolic are bearish.Hope they will hold that position and force 15 praboliv to switch too.will see
  • #95,995
  • Nov 6, 2008 8:11am Nov 6, 2008 8:11am
1.5% rate cut and some weird price reaction lol
Trade what you see, not what you think.
  • #95,996
  • Nov 6, 2008 8:15am Nov 6, 2008 8:15am
Quoting karmostaji
1.5% rate cut and some weird price reaction lol
Very unusual shit....
Patience + Discipline - Greed = Success
  • #95,997
  • Nov 6, 2008 8:16am Nov 6, 2008 8:16am
Quoting karmostaji
1.5% rate cut and some weird price reaction lol
calm before the storm
  • #95,998
  • Nov 6, 2008 8:16am Nov 6, 2008 8:16am
Quoting Infinity
I just closed one for 50 pips at the 15m 50...
that is what i am talking about.5855
  • #95,999
  • Nov 6, 2008 8:18am Nov 6, 2008 8:18am
Quoting \"expert\"
that is what i am talking about.5855
nice....
Patience + Discipline - Greed = Success
  • #96,000
  • Nov 6, 2008 8:18am Nov 6, 2008 8:18am
Quoting karmostaji
1.5% rate cut and some weird price reaction lol
whipsaw as expected.... gives no confidence at all.... good opps for fast scalps none the less
Trading is 80% Emotional, 20% Technical
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