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Cable Update (GBPUSD)

  • #103,521
  • Dec 3, 2008 6:26am Dec 3, 2008 6:26am
Great, I come back and see my yesterdays target of 14670 is hit and I had no shorts on
  • #103,522
  • Dec 3, 2008 6:30am Dec 3, 2008 6:30am
Quoting PipLand
Great, I come back and see my yesterdays target of 14670 is hit and I had no shorts on

at least u didnt go long into resistance.trading this week for me is crazy..monday was hard, tuesday difficult and today rediculous
  • #103,523
  • Dec 3, 2008 6:30am Dec 3, 2008 6:30am
Quoting steelhead
I know where the buy button is and am using it. If it drops I will click again.

tut tut for know
I can see where you are placing your entries and it's certainly nothing random but my only question would be, when would you know it's time to cover and bail or to stop and reverse?
I need to put up stop losses.
  • #103,524
  • Dec 3, 2008 6:39am Dec 3, 2008 6:39am
Quoting nAVIN2007
at least u didnt go long into resistance.trading this week for me is crazy..monday was hard, tuesday difficult and today rediculous
Yeah I know that wasnt your best decision but i understand why you did it.

once we sort your entry out your be flying cause truthfully it doesnt matter if your right or wrong on direction if you have a good entry and lock it in BE then you can sit back and relax. Or maybe try trading only near key levels then you wont have any issues choosing a place for your stop. Ive seen your analysis so I know you know where these levels are, just gotta have some faith in them
  • #103,525
  • Dec 3, 2008 6:41am Dec 3, 2008 6:41am
here is my opinion again... we hit the daily target at 1.4718 then we hit the 4h trend target at 1.4680... i still expect a pull back to the 1.5x...

for today, i hope for pull back to 1.48x then if we got a signal, we will come back to 1.47x... i dont know below 1.4718 seems difficult for me before a nice pullback
When life gives you lemons, make lemonade
  • #103,526
  • Dec 3, 2008 6:44am Dec 3, 2008 6:44am
Attached Image(s) (click to enlarge)
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When life gives you lemons, make lemonade
  • #103,527
  • Dec 3, 2008 6:47am Dec 3, 2008 6:47am
I think we are heading down...... way down....
Attached Image (click to enlarge)
Click to Enlarge Name: day.gif Size: 24 KB
Patience + Discipline - Greed = Success
  • #103,528
  • Dec 3, 2008 6:50am Dec 3, 2008 6:50am
Quoting Infinity
I think we are heading down...... way down....
Also.....

If a retest of this lower tl is rejected then it will be confirmed...
Attached Image
Patience + Discipline - Greed = Success
  • #103,529
  • Dec 3, 2008 6:52am Dec 3, 2008 6:52am
thats interesting infinity, we have 2 different opinions
i didnt rule the possibility for going down, but it seems difficult for me now
When life gives you lemons, make lemonade
  • #103,530
  • Dec 3, 2008 6:53am Dec 3, 2008 6:53am
Quoting Infinity
Also.....

If a retest of this lower tl is rejected then it will be confirmed...
Yes exactly what im looking at. Im planning on going short big time at the bottom of this trend line. Low risk easy to place a stop

This was a major support line that was broken, has been proping up cable for since 13th Nov
  • #103,531
  • Dec 3, 2008 6:53am Dec 3, 2008 6:53am
Quoting Infinity
I think we are heading down...... way down....
i hope so but i cant see how bad figures for US gonna send this down..but if yur right i need to sell when theres a signal to get out of this hole
  • #103,532
  • Dec 3, 2008 6:54am Dec 3, 2008 6:54am


your possibility is not bad but i dont know
When life gives you lemons, make lemonade
  • #103,533
  • Dec 3, 2008 6:56am Dec 3, 2008 6:56am
Morning all.. Nice move this morning.. caught some of that from my overnight short. My entry and target was in the chart i posted before bed. It appears we now have an additional (4th) LTL . Price is currently between the 3rd and 4th.

Should be an interesting day.
USD Est Non Mortuus
  • #103,534
  • Dec 3, 2008 6:56am Dec 3, 2008 6:56am
Quoting nAVIN2007
i hope so but i cant see how bad figures for US gonna send this down..but if yur right i need to sell when theres a signal to get out of this hole
The news may give us a good opportunity to short again...

here's the weekly chart so far...
Attached Image (click to enlarge)
Click to Enlarge Name: week.gif Size: 20 KB
Patience + Discipline - Greed = Success
  • #103,535
  • Dec 3, 2008 6:59am Dec 3, 2008 6:59am
non farm is going to be a big red number so we go to 1.48x then to 1.47 hit the target of the last down trend and then finito, from there i have no idea whats gonna happen
When life gives you lemons, make lemonade
  • #103,536
  • Dec 3, 2008 6:59am Dec 3, 2008 6:59am
Quoting nAVIN2007
i hope so but i cant see how bad figures for US gonna send this down..but if yur right i need to sell when theres a signal to get out of this hole
risk-aversion Navin, that's how bad US figures can send this down. They will first effect the equity markets, which will have an impact on the dollar.
  • #103,537
  • Dec 3, 2008 7:02am Dec 3, 2008 7:02am
Quoting Infinity
Also.....

If a retest of this lower tl is rejected then it will be confirmed...
The m15 50ema is also at this spot...
Patience + Discipline - Greed = Success
  • #103,538
  • Dec 3, 2008 7:02am Dec 3, 2008 7:02am
Quoting Infinity
The news may give us a good opportunity to short again...

here's the weekly chart so far...
it did break the low...i just couldnt hold myself together because of the possible drawdown.i might have been able to if non fam week wsnt around

anyways i do agree..1.4 is on the card especially if rate gets cut
  • #103,539
  • Dec 3, 2008 7:03am Dec 3, 2008 7:03am
I have that line intersecting the 50%fib at approx 14800. That is my target for a short if this 77x level does not bring it down. It looks like there is great anticipation of a selloff on bad data, I do hope we are not wrong.

Quoting Infinity
Also.....

If a retest of this lower tl is rejected then it will be confirmed...
Ride the Bulls bearback!
  • #103,540
  • Edited 7:41am Dec 3, 2008 7:05am | Edited 7:41am
GBP/USD has touched 1.4666 showing a strong downtrend at least to 1.4550.
Give me patience
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