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Cable Update (GBPUSD)

  • #115,661
  • Jan 28, 2009 8:49am Jan 28, 2009 8:49am
:nerd:
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Patience + Discipline - Greed = Success
  • #115,662
  • Jan 28, 2009 8:50am Jan 28, 2009 8:50am
Dears

I think it will not test it again

And I have a feeling that this level is the end of this retracement,,waiting for 1.30XX next week may be or the week after it
  • #115,663
  • Edited 8:52am Jan 28, 2009 8:51am | Edited 8:52am
Quoting nAVIN2007
yur comments are interesting as always

my target missed, hope its not finished going north
Price action suggests south.

1H TF Bearish Engulfing

4H TF (alpari feed closing in 10 mins) :
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  • #115,664
  • Jan 28, 2009 8:51am Jan 28, 2009 8:51am
Quoting gammase1
Excellent post, friend!

Yes, I think that the nationalisation of large parts of the banking sector is now looking inevitable, in the UK, eurozone and the US....
The beginning of sovereign wealth funds for all countries, and not just china and the middle east?
  • #115,665
  • Jan 28, 2009 8:52am Jan 28, 2009 8:52am
Quoting mohfaid
Dears

I think it will not test it again

And I have a feeling that this level is the end of this retracement,,waiting for 1.30XX next week may be or the week after it
it will definately likely test it again...but how low will it go b4 it goes back up is the question..i thought my target was a bit ambitous

closed out....now im looking for a break of the pin to short.
  • #115,666
  • Jan 28, 2009 8:58am Jan 28, 2009 8:58am
Man

It is nice to me talk to you, always getting more info and experiece from your posts

So,,,,do you think it will go down till 1.4030 and then retuen back for it ???


Quoting nAVIN2007
it will definately likely test it again...but how low will it go b4 it goes back up is the question..i thought my target was a bit ambitous
  • #115,667
  • Jan 28, 2009 8:59am Jan 28, 2009 8:59am
Quoting Alastair
i feel we have to go retest it.
holding my long still.
I dont think we will retest if the 1hr candle finishes like it is now
  • #115,668
  • Jan 28, 2009 8:59am Jan 28, 2009 8:59am
Quoting nAVIN2007
it will definately likely test it again...but how low will it go b4 it goes back up is the question..i thought my target was a bit ambitous
it will test it again..but the intensity will be light..very light..and the drop will be quick..so..place your SL if you have not already..
  • #115,669
  • Jan 28, 2009 9:04am Jan 28, 2009 9:04am
Quoting JammerJams
it will test it again..but the intensity will be light..very light..and the drop will be quick..so..place your SL if you have not already..
yes the pin may produce some drrawndown but likely wont be exceeded either...its a strong signal to sell and location is great...long is risky now i feel
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  • #115,670
  • Jan 28, 2009 9:09am Jan 28, 2009 9:09am
Be carefull Nav Bro !

Im out of all my long positions from 1.36 up , I was thinking of just hedging it all temporarily and riding this short but I could hardly sleep last night with it on . .

Im in on this short.

EDIT* In off of the 15MIN, no charts here. hoping for a break of the 4HR
  • #115,671
  • Jan 28, 2009 9:09am Jan 28, 2009 9:09am
Quoting mohfaid
Man

It is nice to me talk to you, always getting more info and experiece from your posts

So,,,,do you think it will go down till 1.4030 and then retuen back for it ???
i consider this move up a retracement 61.8f and confluence with support and resistance flip...i think a resumption of trend now is likely

but im not the almighty so anything can happen...trade yur beliefs
  • #115,672
  • Jan 28, 2009 9:10am Jan 28, 2009 9:10am
Quoting Jigsaw
Be carefull Nav Bro !

Im out of all my long positions from 1.36 up , I was thinking of just hedging it all temporarily and riding this short but I could hardly sleep last night with it on . .

Im in on this short.
we on the same page bro!
u trading a live account cause if u are that very impressive, u making great decisions
  • #115,673
  • Jan 28, 2009 9:11am Jan 28, 2009 9:11am
Quoting PipLand
I dont think we will retest if the 1hr candle finishes like it is now
what do you all think now?

retracement to test higher highs?

or reversal to go back to the 1.36xx ??
  • #115,674
  • Jan 28, 2009 9:11am Jan 28, 2009 9:11am
im out long, fear she might not go higher, lacking steam.
Keep It Simple Stupid
  • #115,675
  • Jan 28, 2009 9:16am Jan 28, 2009 9:16am
I've been skalping all morning I am short now from 1.4280 till 1.42 then will see
  • #115,676
  • Jan 28, 2009 9:16am Jan 28, 2009 9:16am
Quoting nAVIN2007
yes the pin may produce some drrawndown but likely wont be exceeded either...its a strong signal to sell and location is great...long is risky now i feel
thanks Navin
  • #115,677
  • Jan 28, 2009 9:21am Jan 28, 2009 9:21am
Quoting nAVIN2007
we on the same page bro!
u trading a live account cause if u are that very impressive, u making great decisions
Yep Live account,

Man, im a young padawan Raczekfx in terms of aggressiveness these days lol.

I even hedged myself yesterday off the one hour PB and made profit on that, best week ever literally. That long i closed was the single best trade I ever took.

Ive been Long since trying to fill the GAP on sunday night lol. Pop into the chatroom around 10.30 GMT theres always a good bit of trading banter to be had on sundays bro .

Gap trading is something I am really getting into.
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  • #115,678
  • Jan 28, 2009 9:24am Jan 28, 2009 9:24am
Quoting blurrcow
what do you all think now?

retracement to test higher highs?

or reversal to go back to the 1.36xx ??
I dont think its a reversal that up trend was the retracement like Navin said, the down trend should continue, thats my view anyway, opportunity to add shorts or get shorts on about now i would say
  • #115,679
  • Jan 28, 2009 9:25am Jan 28, 2009 9:25am
Quoting JammerJams
thanks Navin

yur wellcome
  • #115,680
  • Jan 28, 2009 9:25am Jan 28, 2009 9:25am
The last candle was rejected hard at the 61.8 fibs. Looks like it might be heading south again. Have just closed my longs and wait for it to cross my ma before shorting. If it goes up, I'll just stay out.

Have a good one you guys
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