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Cable Update (GBPUSD)

  • #111,261
  • Jan 13, 2009 7:14pm Jan 13, 2009 7:14pm
1.4595 pivot

1.4573&1.4586 resistance
  • #111,262
  • Jan 13, 2009 7:34pm Jan 13, 2009 7:34pm
ma 5 cross ma 10 on h1...

price fighting mid bollinger band on h1

take care of 4586 and 4595
  • #111,263
  • Jan 13, 2009 7:36pm Jan 13, 2009 7:36pm
Nice rally so far, I'm hoping 4780ish is possible today but that may be a little optimistic. Currently long from 4485 and looking to maximise profits with a limit close order since I'll be away from this all day.
  • #111,264
  • Edited 7:50pm Jan 13, 2009 7:38pm | Edited 7:50pm
The following is just one potential scenario for the next few days and weeks.
This is just my few and is not a call to place trades, but as something to
possibly think about as you lay out your trading strategies.
The views pertain to both gbp/usd and eur/usd pairs.

I see some potential for some retracement but limited to 4700ish / 3300ish
respectively followed by a continuation of the down trend for both finding
bottoms for both pairs by weeks end, with a small possibility of slightly
lower bottoms the first part of next week.

We will then see sideways channels in both pairs for at least the next few weeks
with tops of 4700 > 4800 gbp / 3300 > 3400 eur and bottoms of 4200 > 4300 gbp /
2800 > 2900 eur.

Now you’re probably saying why does he think this? Well as we know the U S
will be signing in a new president and his cabinet next week. Many around the
world seem to believe that Mr. Obama is the new savior of the U S and the world
and there will be a time very similar to a honeymoon while very few will be willing
to discount the value of the U S dollar and the U S. As most of the world knows,
how the U S goes, so does the rest of the world. It is very important to the world
economy that the U S pulls out of this recession. U S recovers, so does everyone else.

Now if the tension in the middle east would subside and people of different faiths
and ideas could start to get along – even more better, but that may be asking to much.

Now once again this is just a view and potential scenario and is not etched in stone.
PLEASE do not use this as trading calls, etc, but maybe use as something to think
about when planning trading strategies. The again maybe just disregard entirely
and feel free to think I’m an idiot J

Good Luck and Let The Pips Be with You!
  • #111,265
  • Jan 13, 2009 7:50pm Jan 13, 2009 7:50pm
Quoting newbe
Pipland, what is the target for the 1hr 62. For everyones chart is that number the same
sorry i wasnt at my comp the 1hr 62 ema is currently at 4768 on my chart but it would be slightly diff on other peoples charts as they use different data feeds, remember also that it is a moving average so it wont stay at that price. you need to add it to your own chart if you want to use ot properly
  • #111,266
  • Jan 13, 2009 8:21pm Jan 13, 2009 8:21pm
Quoting golatigo
The following is just one potential scenario for the next few days and weeks.
This is just my few and is not a call to place trades, but as something to
possibly think about as you lay out your trading strategies.
The views pertain to both gbp/usd and eur/usd pairs.

I see some potential for some retracement but limited to 4700ish / 3300ish
[FONT=Times...
Outstanding! This is definately something to think about.
Just digging in the trenches like everyone else!
  • #111,267
  • Jan 13, 2009 8:21pm Jan 13, 2009 8:21pm
Quoting PipLand
sorry i wasnt at my comp the 1hr 62 ema is currently at 4768 on my chart but it would be slightly diff on other peoples charts as they use different data feeds, remember also that it is a moving average so it wont stay at that price. you need to add it to your own chart if you want to use ot properly
Exactly, mine is at 4769 atm
Just digging in the trenches like everyone else!
  • #111,268
  • Jan 13, 2009 8:59pm Jan 13, 2009 8:59pm
decent retrace so far.. nice potential
USD Est Non Mortuus
  • #111,269
  • Jan 13, 2009 9:09pm Jan 13, 2009 9:09pm
i think gu attempt to test 1.4650 and after that will be falling down.
  • #111,270
  • Jan 13, 2009 9:16pm Jan 13, 2009 9:16pm
Quoting LuckyLurker
decent retrace so far.. nice potential
Let's see how she does now. I've taken 2 soldiers off the field. 105 pips is good for them. Once their rest is over, I'll send them back into battle. The remaining 4 are sitting with SL +50atm
Just digging in the trenches like everyone else!
  • #111,271
  • Jan 13, 2009 9:29pm Jan 13, 2009 9:29pm
Quoting eohater
Let's see how she does now. I've taken 2 soldiers off the field. 105 pips is good for them. Once their rest is over, I'll send them back into battle. The remaining 4 are sitting with SL +50atm
Geez - great timing !!
Dropping now more than i woulda thought it should ... ?
  • #111,272
  • Jan 13, 2009 9:29pm Jan 13, 2009 9:29pm
wow. that was a hard rejection of the 1.4598 daily PP
  • #111,273
  • Jan 13, 2009 9:54pm Jan 13, 2009 9:54pm
Hey all this is my first chart post, looking for some info on it if what im seeing is correct on a 720 looks to be a head and shoulders that has formed and heading to a new low? and please if it sucks and its wrong let me know thanks.....the software im using to capture the pic of the chart isnt the greatest but its better than nothing. here she is...GBPUSD 720
Attached Image
  • #111,274
  • Jan 13, 2009 9:58pm Jan 13, 2009 9:58pm
Quoting pipmyride
Geez - great timing !!
Dropping now more than i woulda thought it should ... ?
She showed the short signal on the 15m thus why I tp on some of my position. I should have closed the whole position and went short, but I was still in family time.
Just digging in the trenches like everyone else!
  • #111,275
  • Jan 13, 2009 10:01pm Jan 13, 2009 10:01pm
eo - I didnt' really get a usual pattern (for me) off the m15 for me to show as short. What in particular signaled that for you?

I saw the two double tops... but no confirmation.. broke the double top.. and then got batted down.

Quoting eohater
She showed the short signal on the 15m thus why I tp on some of my position. I should have closed the whole position and went short, but I was still in family time.
DireXiv Make it happen, no one else is going to do it for you...
  • #111,276
  • Jan 13, 2009 10:02pm Jan 13, 2009 10:02pm
i've closed mine (longs) for now also - dont like the hourly outside bar just formed...
  • #111,277
  • Jan 13, 2009 10:09pm Jan 13, 2009 10:09pm
thanks eo... interesting.. i'll have to watch and evaluate.
DireXiv Make it happen, no one else is going to do it for you...
  • #111,278
  • Jan 13, 2009 10:09pm Jan 13, 2009 10:09pm
Quoting DireXiv
eo - I didnt' really get a usual pattern (for me) off the m15 for me to show as short. What in particular signaled that for you?

I saw the two double tops... but no confirmation.. broke the double top.. and then got batted down.
See on my chart the two candles circled. The first candle closed with a little wick, the second had a wick greater than the body and closed down. Next candle go short and bam 40 pips in you pocket and how tight was that SL?
Attached Image (click to enlarge)
Click to Enlarge Name: chart.JPG Size: 83 KB
Just digging in the trenches like everyone else!
  • #111,279
  • Jan 13, 2009 10:10pm Jan 13, 2009 10:10pm
Quoting DireXiv
thanks eo... interesting.. i'll have to watch and evaluate.
I reposted, I didn't have the correct chart posted. Sorry!
Just digging in the trenches like everyone else!
  • #111,280
  • Jan 13, 2009 10:14pm Jan 13, 2009 10:14pm
Infinity, did you go back long once we closed across the 50ema?
Just digging in the trenches like everyone else!
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