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Cable Update (GBPUSD)

  • #114,481
  • Edited 7:09am Jan 23, 2009 7:07am | Edited 7:09am
Quoting gammase1
Be careful on this. EURGBP is stalling around a crucial fib point at 0.9431, which has exerted some influence in recent trading on this pair. On your side, is the fact that my 4H candles have not closed above this point by more than a couple of pips. My bias for this pair is short, but I am waiting for clearer confirmation to signal an entry point. Picked up 30 pips earlier on short at 0.9460, just below yesterday's high, but with low leverage, so only tiny gains.
considering the bearish sentiment at extreme right now
i think it is maybe a good time to go long GBP

i am not talking from a technical point of view
  • #114,482
  • Jan 23, 2009 7:10am Jan 23, 2009 7:10am
Quoting fammira
thank you, we are at ,9407 right now

do you see 9431 as an important level?
would you see a short term reversal on a close under that level?

looks like pound is bouncing back strong indeed
Yes, 9431 has been significant in past few sessions. That was a good close on my 4H. I am back in short @ 9420 - close to open on new 4H.

Watching Cable carefully on 15m.
  • #114,483
  • Jan 23, 2009 7:10am Jan 23, 2009 7:10am
Quoting PipLand
Hey guys I hope youve been making nice pips, i'm still staying out of it for now still.

I know some of you are considering going long. For you guys I would point out the daily and 4 hr charts. Also consider this could be a bear flag in the making.

Good luck to anyone in a trade
yups i've made 140 pips today
waiting for the next good setup


hey i miss alcando
  • #114,484
  • Jan 23, 2009 7:21am Jan 23, 2009 7:21am
I wudnt judge the strength of the pound against the euro. It is more like selling of the euro rather than buying of the pound.
  • #114,485
  • Jan 23, 2009 7:23am Jan 23, 2009 7:23am
Quoting fry2010
I wudnt judge the strength of the pound against the euro. It is more like selling of the euro rather than buying of the pound.
It's actually a bit of both.
  • #114,486
  • Jan 23, 2009 7:24am Jan 23, 2009 7:24am
lol i suppose it is.
  • #114,487
  • Jan 23, 2009 7:31am Jan 23, 2009 7:31am
Quoting gammase1
Yes, 9431 has been significant in past few sessions. That was a good close on my 4H. I am back in short @ 9420 - close to open on new 4H.

Watching Cable carefully on 15m.
out @ 9395

don't like slide in equities. will sit back and see effect on Cable.
  • #114,488
  • Jan 23, 2009 7:36am Jan 23, 2009 7:36am
Quoting gammase1
out @ 9395

don't like slide in equities. will sit back and see effect on Cable.
s&p futures sitting on key 800 level. after a break of this, a test on 750 (previous l.ow) could well be on cards.

keep watching levels on s&p in addition to cable.
  • #114,489
  • Jan 23, 2009 7:44am Jan 23, 2009 7:44am
Quoting gammase1
Yes, 9431 has been significant in past few sessions. That was a good close on my 4H. I am back in short @ 9420 - close to open on new 4H.

Watching Cable carefully on 15m.
thanks, will be watching that level carefully then and will keep my stop at 0,9480 on a possible new low

this may be only profit taking before pound hits new lows, but who knows, actually I am not even sure about it...

Hope it can be in the 0,91 area sooner indeed
  • #114,490
  • Jan 23, 2009 7:50am Jan 23, 2009 7:50am
Quoting uut
yups i've made 140 pips today
waiting for the next good setup


hey i miss alcando
Any chance of posting your setup for entry and exit? Just looking to take on knowledge, and it's been a choppy morning, so would be interested in seeing what you did.
  • #114,491
  • Jan 23, 2009 7:52am Jan 23, 2009 7:52am
They realy flipped the rules: FTSE down, pound Up!
  • #114,492
  • Jan 23, 2009 7:57am Jan 23, 2009 7:57am
Quoting Komissar
They realy flipped the rules: FTSE down, pound Up!
ftse dipped by 30+ points in past 30 minutes (95 points down on day) and took cable down swiftly. it has recovered from that slip and Cable has again climbed above 1.36.

FTSE is down and Cable is down.
  • #114,493
  • Jan 23, 2009 7:57am Jan 23, 2009 7:57am
watch out the area 1,3620 - 50

if it manages to clear it today it may bounce back easily to 1,376 early next week
  • #114,494
  • Jan 23, 2009 8:10am Jan 23, 2009 8:10am
Quoting fry2010
I actually believe on the 15m chart we are only in the 3RD wave of the 3RD wave...
Target 1.3508 for the end of this, then shud retrace to 1.3670 for good opportunity to sell. Final 5th wave target around 1.3320.
This is my take on ew 15m.

I now need a rest, staring at charts is not good.
Superb call on the first two.
Thank You
  • #114,495
  • Jan 23, 2009 8:34am Jan 23, 2009 8:34am
Quoting fammira
watch out the area 1,3620 - 50

if it manages to clear it today it may bounce back easily to 1,376 early next week
OK, we are almost there.
  • #114,496
  • Jan 23, 2009 8:43am Jan 23, 2009 8:43am
Quoting Komissar
OK, we are almost there.
looks like area 1,3620 - 50 has been cleared

a confirmation on the close would set the tone for a short term bounce early next week

watch carefully cause in these times USD never dies...
  • #114,497
  • Jan 23, 2009 8:46am Jan 23, 2009 8:46am
Quoting fammira
looks like area 1,3620 - 50 has been cleared

a confirmation on the close would set the tone for a short term bounce early next week

watch carefully cause in these times USD never dies...
A big bounce back, but it's probably only temporary....
  • #114,498
  • Jan 23, 2009 8:51am Jan 23, 2009 8:51am
Quoting Yohay
A big bounce back, but it's probably only temporary....
not sure, but likely a temporary bounce

anyway I have to put my small penny on the GBP at this point, sticking with my stop loss
  • #114,499
  • Jan 23, 2009 9:16am Jan 23, 2009 9:16am
Quoting fammira
not sure, but likely a temporary bounce

anyway I have to put my small penny on the GBP at this point, sticking with my stop loss
I think the GBP's dancing career has finished now it's lost it's leg - I don't see why it should come back

Off shopping in Marks and Spencer in Leeds next week. What cost me $204.00 last time will cost $136.00 this time...and that's before the discount sales

Think I will buy the shop !
  • #114,500
  • Edited 9:32am Jan 23, 2009 9:25am | Edited 9:32am
Quoting daffy
Any chance of posting your setup for entry and exit? Just looking to take on knowledge, and it's been a choppy morning, so would be interested in seeing what you did.
don't you see the chart which navin has been posted?

short @ 1.3674
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