Cable Update (GBPUSD)

Quoting micho

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well of course he doesnt have a magic strategy... just the same confusion that we all have.. trend is down... until it reverses... as you said

good night i have to sleep im so f#### up
see u around

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Quoting spintrader

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Yeah, I guess you're right. I do enjoy his posts, andI have no problem with the religious stuff nor the large font, but I do wish he would go into a little greater depth sometimes. He's gonna have to close those shorts eventually, I'm just curious as to when he plans to do this.

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Quoting nAVIN2007

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lots of support down...last week also we failed to break the low..i think he perhaps got carried away on the last short but hey time will tell..

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Quoting geojams

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Does anyone know how often the gap on market open Sunday is closed on GU? I have heard that it is something like 80% of the time over on the EU thread, but didn't know if it applied over here as well.

I had a hedge position over the weekend (stupid thing to do, hedge) and the long has already closed. I am hoping the gap will close and I can get out of my short as well. My short is at 5676.

TIA

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Quoting spintrader

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Do you mean during the following day? cos I'm pretty sure the gap always closes sooner or later. I think this one your short will be find, though it depends on how far up you can allow it to go. Always avoid leaving trades open over the weekend if you can help it. I have a trade that I've left open, but it is a short at 1.65, so it's okay even if there is a large gap in the market.

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Quoting geojams

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I don't normally leave positions open over the weekend. In fact, I had an open EJ long that I had to call the broker to close on Friday because their MT4 servers weren't working. That would have netted over 200 pips if I hadn't closed it, always a gamble though.

Anyway, yes, I meant the following day or so. My bias is short this week and just wanted a second opinion. Most of trades have been EU the past six months. I am just starting to trade GU.

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Quoting spintrader

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I see, well my bias is also for short, though I'm not ruling out the possibility of further consolidation. My plan is if it starts seriously approaching 1.6 area, I will exit my short and wait for a bit, then re-enter the short position again once it reaches the exit price, but on the way back down- if that makes sense. I see further weakness in the pound for the coming months.

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Quoting spintrader

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I see, well my bias is also for short, though I'm not ruling out the possibility of further consolidation. My plan is if it starts seriously approaching 1.6 area, I will exit my short and wait for a bit, then re-enter the short position again once it reaches the exit price, but on the way back down- if that makes sense. I see further weakness in the pound for the coming months.

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Quoting bobcat

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Im short, 1.5841

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Quoting eohater

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Evening everyone! Morning to some! I'm having a good session so far. I hope everyone is as well.

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Quoting Kyen

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Good evening, care to share your thoughts on how the bailout in China will affect GU upon NY session opening? My thoughts are that the major still has a ways to go , perhaps some consolidation from the previous move, but uphill from where would be my bias... your thoughts?

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Quoting deboooo2005

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Giid Week 4 all

i think cable could reach 1.5962

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