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Cable Update (GBPUSD)

  • #109,541
  • Jan 7, 2009 1:06am Jan 7, 2009 1:06am
UK economy still looks weak:
Chancellor Darling Warns That U.K. `Far From Through' Recession, FT Says Chancellor of the Exchequer Alistair Darling warned that the U.K. is “far from through” the recession, indicating he may need to abandon the government’s forecast that the economy will recover in the second half of the year.
Give me patience
  • #109,542
  • Jan 7, 2009 1:12am Jan 7, 2009 1:12am
Quoting Bullfx
UK economy still looks weak:
Chancellor Darling Warns That U.K. `Far From Through' Recession, FT Says Chancellor of the Exchequer Alistair Darling warned that the U.K. is “far from through” the recession, indicating he may need to abandon the government’s forecast that the economy will recover in the second half of the year.
Yup, and all the economic figures from the UK have disappointed lately, despite expectations being low.
So why did the pound rally yesterday? And why is it still strong now?
  • #109,543
  • Jan 7, 2009 1:56am Jan 7, 2009 1:56am
Marks & Spencer to Cut 1,230 Jobs After Sales Slump

http://www.bloomberg.com/apps/news?p...tg0&refer=home
Just digging in the trenches like everyone else!
  • #109,544
  • Jan 7, 2009 1:57am Jan 7, 2009 1:57am
Quoting eohater
Marks & Spencer to Cut 1,230 Jobs After Sales Slump

http://www.bloomberg.com/apps/news?p...tg0&refer=home
How far do you think she'll rise before the drop?
  • #109,545
  • Jan 7, 2009 1:59am Jan 7, 2009 1:59am
Quoting trader2160
How far do you think she'll rise before the drop?
I would like to see the current 1h candle either close full or 4941 area.
Just digging in the trenches like everyone else!
  • #109,546
  • Jan 7, 2009 2:04am Jan 7, 2009 2:04am
Quoting eohater
I would like to see the current 1h candle either close full or 4941 area.
Now we need a good break of 4870. I'm watching my 15m chart for this break and then for her to hold.
Just digging in the trenches like everyone else!
  • #109,547
  • Jan 7, 2009 2:12am Jan 7, 2009 2:12am
Quoting eohater
Now we need a good break of 4870. I'm watching my 15m chart for this break and then for her to hold.
after the current 15m candle closes, I'm looking for 4910 to hold. All my ma's on my 15m chart are bunched up there. This area holds, back down we go. Nice place to get in short if your not short already.
Just digging in the trenches like everyone else!
  • #109,548
  • Jan 7, 2009 2:13am Jan 7, 2009 2:13am
Quoting eohater
Now we need a good break of 4870. I'm watching my 15m chart for this break and then for her to hold.
She just broke the 15min 50
  • #109,549
  • Jan 7, 2009 2:13am Jan 7, 2009 2:13am
Quoting eohater
after the current 15m candle closes, I'm looking for 4910 to hold. All my ma's on my 15m chart are bunched up there. This area holds, back down we go. Nice place to get in short if your not short already.
4870 is the key shelf level on the 15m chart, that will need to hold on the short bus.
Just digging in the trenches like everyone else!
  • #109,550
  • Jan 7, 2009 2:14am Jan 7, 2009 2:14am
Quoting eohater
after the current 15m candle closes, I'm looking for 4910 to hold. All my ma's on my 15m chart are bunched up there. This area holds, back down we go. Nice place to get in short if your not short already.
EUR/GBr has finally grown a pair.
  • #109,551
  • Jan 7, 2009 2:15am Jan 7, 2009 2:15am
Quoting trader2160
She just broke the 15min 50
oh, yeah! She smashed it! The last 1h candle was nice and everyone's 4h candle that closed 15m ago was nice. Supports the downward movement. Targets now come into play. I'm looking at the 1h 50/62 area for TP and possible long during the US Session.
Just digging in the trenches like everyone else!
  • #109,552
  • Jan 7, 2009 2:17am Jan 7, 2009 2:17am
Stepped away and missed this initial drop...what is a good entry point?
  • #109,553
  • Jan 7, 2009 2:17am Jan 7, 2009 2:17am
Quoting trader2160
EUR/GBr has finally grown a pair.
The EUR/USD appears to have broken out of it's range too. EUR/USD up, EUR/GBP up and GBP/USD down. Sounds good to me.
Just digging in the trenches like everyone else!
  • #109,554
  • Jan 7, 2009 2:18am Jan 7, 2009 2:18am
Quoting eohater
after the current 15m candle closes, I'm looking for 4910 to hold. All my ma's on my 15m chart are bunched up there. This area holds, back down we go. Nice place to get in short if your not short already.
yeah youre right its all bunched up here.this level will need to hold.
  • #109,555
  • Jan 7, 2009 2:23am Jan 7, 2009 2:23am
Quoting TheProdigy
Stepped away and missed this initial drop...what is a good entry point?
It depends on your risk:reward and that your looking for. If I was not in a trade, just looked at the charts. I would look for the pull back to the 4910 area and If 4925 presented itself, I would go short there. SL around 50-75 pips at 4925 depending upon PA.
Just digging in the trenches like everyone else!
  • #109,556
  • Jan 7, 2009 2:23am Jan 7, 2009 2:23am
I have short in GU....I will start to worry if the price pass 1.495x again...TP will move to BE and trail when it hit daily pivot...

The rest is up to the mkt...
Sonic

http://www.forexfactory.com/attachme...1&d=1231316431
  • #109,557
  • Jan 7, 2009 2:24am Jan 7, 2009 2:24am
Equity markets opening lower too.Adding a bit of G/J pressure.
  • #109,558
  • Jan 7, 2009 2:25am Jan 7, 2009 2:25am
Quoting eohater
It depends on your risk:reward and that your looking for. If I was not in a trade, just looked at the charts. I would look for the pull back to the 4910 area and If 4925 presented itself, I would go short there. SL around 50-75 pips at 4925 depending upon PA.
Thanks man
  • #109,559
  • Jan 7, 2009 2:33am Jan 7, 2009 2:33am
just took short bus!
  • #109,560
  • Jan 7, 2009 2:39am Jan 7, 2009 2:39am
Quoting dunhill1907
just took short bus!

what is your TP ? the short just correction
the trend still up..... there's no reversal yet ?? right ?
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