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Cable Update (GBPUSD)

  • #111,441
  • Jan 14, 2009 7:24am Jan 14, 2009 7:24am
hard bounce off 1.45... now have a 3 point t/l started. break of 1.45 should lead the way down.

Quoting Galation
If you start with $5000 in your account, and have sensible money management, and consistently doubled your account every year. You would take that $5000 to $1.28 million in 8 years. (if compounding profits, which I recommend you take out)... Principle is, Forex is not get rich quick, but if you have the mindset of being in it for the long run, and not amassing riches overnight, then you could do well.

The GU is back at about 1.45 now. Just watch the price action around this area, whether it bounces hard, or hovers.
DireXiv Make it happen, no one else is going to do it for you...
  • #111,442
  • Jan 14, 2009 7:25am Jan 14, 2009 7:25am
1.45 is one daddy of a support level.
Probability Professor
  • #111,443
  • Jan 14, 2009 7:27am Jan 14, 2009 7:27am
Yep.. and just for correlation.. g/u bounced hard.. and e/u did virtually nothing... .yet...

me thinks e/u dies today... and if it does.. we should see new lows on g/u unless e/gbp comes majorly into play.

Quoting Galation
1.45 is one daddy of a support level.
DireXiv Make it happen, no one else is going to do it for you...
  • #111,444
  • Jan 14, 2009 7:36am Jan 14, 2009 7:36am
very interesting tussle, this one ....
  • #111,445
  • Jan 14, 2009 7:38am Jan 14, 2009 7:38am
From a psychological point of view, breaking down through 1.45 brings throughs in the mind of 1.3*'s. A break up through 1.45 brings thoughts into the mind of 1.5*'s.

Well, from mine anyway!
Probability Professor
  • #111,446
  • Jan 14, 2009 7:40am Jan 14, 2009 7:40am
Quoting DireXiv
Yep.. and just for correlation.. g/u bounced hard.. and e/u did virtually nothing... .yet...

me thinks e/u dies today... and if it does.. we should see new lows on g/u unless e/gbp comes majorly into play.
I know the correlation between the EU and the GU isn't as strong these days, but it's still a very good practice to see what this sister is up to and how she is reacting as well.
Probability Professor
  • #111,447
  • Jan 14, 2009 7:47am Jan 14, 2009 7:47am
its just sitting on it now ...
  • #111,448
  • Jan 14, 2009 7:49am Jan 14, 2009 7:49am
Dmn! Was busy with my wife's car and missed 4550 to short. Let's wait for another one.
  • #111,449
  • Jan 14, 2009 7:50am Jan 14, 2009 7:50am
no green pips . . just reds, but just a little
  • #111,450
  • Jan 14, 2009 7:51am Jan 14, 2009 7:51am
im back after a nice nap, core retail sales were very very bad for the US and dollar strengthened up initially but i think that will be short lived so i went long at 4500
  • #111,451
  • Jan 14, 2009 7:52am Jan 14, 2009 7:52am
Quoting PipLand
im back after a nice nap, core retail sales were very very bad for the US and dollar strengthened up initially but i think that will be short lived so i went long at 4500
And also cable really doesnt want to look below 4500 at the moment too
  • #111,452
  • Jan 14, 2009 8:00am Jan 14, 2009 8:00am
agreed... g/u is holding up very well

Quoting Galation
I know the correlation between the EU and the GU isn't as strong these days, but it's still a very good practice to see what this sister is up to and how she is reacting as well.
DireXiv Make it happen, no one else is going to do it for you...
  • #111,453
  • Jan 14, 2009 8:02am Jan 14, 2009 8:02am
Quoting DireXiv
agreed... g/u is holding up very well
Because E/G is getting a spanking
  • #111,454
  • Jan 14, 2009 8:03am Jan 14, 2009 8:03am
bulls are winning at the moment. PA has no idea right now.. Staying out till direction is set.
USD Est Non Mortuus
  • #111,455
  • Jan 14, 2009 8:03am Jan 14, 2009 8:03am
Alaxo ... everything is Sell - off ... Commodities and Stocks are also sell - off at bad news. FTSE is down more than 4%, oh
Give me patience
  • #111,456
  • Jan 14, 2009 8:07am Jan 14, 2009 8:07am
Quoting Bullfx
Alaxo ... everything is Sell - off ... Commodities and Stocks are also sell - off at bad news
Watchu takin about willis
  • #111,457
  • Jan 14, 2009 8:09am Jan 14, 2009 8:09am
Quoting PipLand
And also cable really doesnt want to look below 4500 at the moment too
that's true. . . we are in the midde of reversal . !
  • #111,458
  • Jan 14, 2009 8:11am Jan 14, 2009 8:11am
Quoting PipLand
And also cable really doesnt want to look below 4500 at the moment too
As the attached chart:
if the cable still closing above the current Fibo van line 23.6, we should see testing for the red line or box.
from there i think cable will go to test the blue line or blue box. that depend on the testing of the red area.
for me i'm already out for today shorting from 1.4680 to 1.4508.
Attached Image (click to enlarge)
Click to Enlarge Name: 14-1-2009 note.gif Size: 49 KB
  • #111,459
  • Jan 14, 2009 8:11am Jan 14, 2009 8:11am
im flat now as well just gonn ahave to watch
  • #111,460
  • Jan 14, 2009 8:12am Jan 14, 2009 8:12am
I am long @ 1.4515 with 5 pips profit locked in so lets see what happens.
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