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Cable Update (GBPUSD)

  • #97,241
  • Nov 11, 2008 7:30pm Nov 11, 2008 7:30pm
Hmmmm. Awful quiet in here all of a sudden. LOL. http://www.forexfactory.com/images/icons/icon10.gif
  • #97,242
  • Nov 11, 2008 7:30pm Nov 11, 2008 7:30pm
Long baby - for the short term. See what tomorrow brings.
  • #97,243
  • Nov 11, 2008 7:30pm Nov 11, 2008 7:30pm
I would agree that Long position are in place in the short-run at least until the early morning, but with enough momentum to carry profitable trade is questionable.

In the long term, i would be careful on Long positions ahead of Claimant Count Change at 9:30 (British Time) and more importantly Bank of England Inflation Report at 10:30 (British Time).
"The trend is your friend, until the end."
  • #97,244
  • Nov 11, 2008 7:34pm Nov 11, 2008 7:34pm
Quoting Bullbear0072
Long baby - for the short term. See what tomorrow brings.
Good luck my friend...let us know how you do on any long positions.
"The trend is your friend, until the end."
  • #97,245
  • Nov 11, 2008 7:35pm Nov 11, 2008 7:35pm
..n spintrader,feel free to discuss..not to argue..not everyone share the same point of view..anybody who enter long rite now,at least still can make few pips..still got hours to go till london..good luck everyone..trade at your own risk..T.A.Y.O.R
world peace!!
  • #97,246
  • Nov 11, 2008 7:37pm Nov 11, 2008 7:37pm
Quoting Bullbear0072
Spintrader - I fully agree with you. I expect a drop when London gets in. If you are daytrading ( as I am ) and some others in here - my charts are showing BUY from the 4hr all the way down. 1.5425 is acting as resistance but should act as support shortly. Daytraders perspective. Hey - put a smile on. LOL. http://www.forexfactory.com/images/icons/icon10.gif
Cool, it just seems like tons of people on here want to be the one who says 'buy!' in the middle of a downtrend in the chance that if it does reverse, they will look like market oracles with amazing foresight!
And if anyone wants to suggest buying, then that is fine, but do it with caution. Bare in mind that there are newbies reading this, and buying in the middle of a strong downtrend, is about the riskiest thing you can do.
Sounds like you are on top of your analysis, so best of luck to you

As for Steelhead, yes I am selling at this point. I've sold at intervals of every 100 pips, from 1.65 all the way down to 1.54- and made a delicious profit- and I'm not ready to stop yet! My next sell order gets hit at 1.5300, then 5200 etc.

And as for this hole you speak of, I look forward to it dropping heavily into the 1.4's and maybe even 1.3's. Then you'll see the true meaning of selling into a hole.

Good luck to you also, I'm sure you'll make some decent pips from your long, but don't hang around too long.
  • #97,247
  • Nov 11, 2008 7:40pm Nov 11, 2008 7:40pm
Quoting dRunKen aRmy
..n spintrader,feel free to discuss..not to argue..not everyone share the same point of view..anybody who enter long rite now,at least still can make few pips..still got hours to go till london..good luck everyone..trade at your own risk..T.A.Y.O.R
world peace!!
I have been discussing, and will continue to! Also you may notice that I agreed that long's could work for a small retrace.
I'm never asserting that my opinion is fact.
But some facts are undeniable- like the downtrend!

Please, share your opinion on where this thing is going?
  • #97,248
  • Nov 11, 2008 7:44pm Nov 11, 2008 7:44pm
as for me i dont think there will be a good move in either direction (in the short term). i stay away.
  • #97,249
  • Nov 11, 2008 7:45pm Nov 11, 2008 7:45pm
Out with +45 pips. Enough for me. Look'n for that drop tomorrow.
  • #97,250
  • Nov 11, 2008 7:47pm Nov 11, 2008 7:47pm
Quoting spintrader
I have been discussing, and will continue to! Also you may notice that I agreed that long's could work for a small retrace.
I'm never asserting that my opinion is fact.
But some facts are undeniable- like the downtrend!

Please, share your opinion on where this thing is going?
Spin there is a buy setup on multiple time frames on g/u. You dont understand that?

congrats on your sells. I sold it way up at 2.1000

You are right newbies are reading this. Attention newbies there are principles that go beyond just forex. Those are these sell high buy low. If you think that buying at 1.5350 and 1.5300 is selling high then go for it.


Again newbies buy low sell high
  • #97,251
  • Nov 11, 2008 7:53pm Nov 11, 2008 7:53pm
Quoting steelhead
Spin there is a buy setup on multiple time frames on g/u. You dont understand that?

congrats on your sells. I sold it way up at 2.1000

You are right newbies are reading this. Attention newbies there are principles that go beyond just forex. Those are these sell high buy low. If you think that buying at 1.5350 and 1.5300 is selling high then go for it.


Again newbies buy low sell high
God this is tiresome- go back and read my posts, they all agreed that long can work on a shorter time frame. So yes I do understand.

I agree, buy low/sell high- just stating that in MY OPINION the low has yet to be reached. I didn't mean that in an aggressive or condescending manner, I just wanted for it to be beyond doubt that I'm not trying to say what will definitely happen.

Good luck with your trades everyone, It's nearly 2 am here, I'll be ready to resume duscussion tomorrow!
  • #97,252
  • Nov 11, 2008 7:58pm Nov 11, 2008 7:58pm
Quoting spintrader
God this is tiresome- go back and read my posts, they all agreed that long can work on a shorter time frame. So yes I do understand.

I agree, buy low/sell high- just stating that in MY OPINION the low has yet to be reached. I didn't mean that in an aggressive or condescending manner, I just wanted for it to be beyond doubt that I'm not trying to say what will definitely happen.

Good luck with your trades everyone, It's nearly 2 am here, I'll be ready to resume duscussion tomorrow!

No worries man I like good hard debate
  • #97,253
  • Nov 11, 2008 7:59pm Nov 11, 2008 7:59pm
Quoting spintrader
I have been discussing, and will continue to! Also you may notice that I agreed that long's could work for a small retrace.
I'm never asserting that my opinion is fact.
But some facts are undeniable- like the downtrend!

Please, share your opinion on where this thing is going?
yeah,i read dat..i think lot of us can see d deniable downtrend for the long moment already..n most of us here already face how does it feel when u fight the trend..if u wanna scalp,can go long for the moment,but with caution,make sure dat u r in green..there is news coming up today plus d oil price is keep falling equal to a stronger dollar..set ur FTP.. fundamental+technical+perception
and for me,we r still downtrend..(...shhh,i'm long for 30pips)
  • #97,254
  • Nov 11, 2008 8:00pm Nov 11, 2008 8:00pm
Hmmm. Having a longer gaze at the charts tonight I am seeing some wicked DIVERGENCE on the higher timeframes. This could be a reversal of larger proportions tomorrow - still difficult to tell but the possibilty is definitely there! Look'n forward to tomorrow to see what pans out. Steelhead - you may very well be holding a little gold mind. http://www.forexfactory.com/images/icons/icon14.gif Will keep watching. Good luck on those BUYS!!!
  • #97,255
  • Nov 11, 2008 8:08pm Nov 11, 2008 8:08pm
We will see I shorted it for now back down to the lows.

But longs are starting to form I believe
  • #97,256
  • Nov 11, 2008 8:11pm Nov 11, 2008 8:11pm
5452 current resistance - short term
  • #97,257
  • Nov 11, 2008 8:17pm Nov 11, 2008 8:17pm
GBP/JPY heading SOUTH. Hitting daily pivot and headed back down.
  • #97,258
  • Nov 11, 2008 9:25pm Nov 11, 2008 9:25pm
short @ 1.5451
  • #97,259
  • Nov 11, 2008 9:46pm Nov 11, 2008 9:46pm
Entered long at the new 15m candle opening for 5395.
Just digging in the trenches like everyone else!
  • #97,260
  • Nov 11, 2008 10:00pm Nov 11, 2008 10:00pm
Quoting Inzider
short @ 1.5451
closed at 1.5394
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