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Cable Update (GBPUSD)

  • #116,761
  • Feb 1, 2009 1:20pm Feb 1, 2009 1:20pm
Quoting PipLand
This might make you feel a little better

http://www.forex-markets.com/quotes.htm

currently showing 1.4494 ask!
Just refreshed xe.com and its now 1.4493.Weird really because when I started typing last post I refreshed it then. You are right I am much happier
  • #116,762
  • Feb 1, 2009 1:27pm Feb 1, 2009 1:27pm
Quoting Chris_35
xe.com gives a price for cable @ 1.4597 which I know for some of the guys who went short on friday night is almost 100 pips adrift. I took my short @ 1.4515 and need to make up some ground also. I do believe that cable will go down even if it hasnt gapped down by the time the brokers open, but I am also prepared for gap up and maybe even rise a little more before it turns round. For this reason I only put a small lot size on weekend trade (to expect the unexpected as EO says)
My thoughts are that I will not have lost any money untill I close a...
I just checked xe now and price is down near 1.448.
while on forex markets it went down to 1.447
  • #116,763
  • Feb 1, 2009 1:33pm Feb 1, 2009 1:33pm
Quoting Chris_35
Just refreshed xe.com and its now 1.4493.Weird really because when I started typing last post I refreshed it then. You are right I am much happier
It looks for the moment like its gonna be gap down, im not gonna trade until well into the london session tomorrow though. I cant decide on direction until 1.45 shows us if its gonna be resistance or support. Should be interesting whatever happens, hope your trade turns out well
  • #116,764
  • Feb 1, 2009 1:43pm Feb 1, 2009 1:43pm
Quoting Abouelzelouf
I just checked xe now and price is down near 1.448.
while on forex markets it went down to 1.447
  • #116,765
  • Feb 1, 2009 2:05pm Feb 1, 2009 2:05pm
Quoting PipLand
It looks for the moment like its gonna be gap down, im not gonna trade until well into the london session tomorrow though. I cant decide on direction until 1.45 shows us if its gonna be resistance or support. Should be interesting whatever happens, hope your trade turns out well
Am happy for myself and all the other guys on here that took the short last Friday if it does gap down. Thanks for your support.
  • #116,766
  • Feb 1, 2009 3:04pm Feb 1, 2009 3:04pm
Opened @ 1.44689 on I.G brokers 21:00 GMT
  • #116,767
  • Feb 1, 2009 3:26pm Feb 1, 2009 3:26pm
You all think its going to head lower when market opens?
I hope so....
  • #116,768
  • Feb 1, 2009 3:31pm Feb 1, 2009 3:31pm
i dnt think the up move is done yet. 1.4850-4900 i think.
  • #116,769
  • Feb 1, 2009 3:50pm Feb 1, 2009 3:50pm
Quoting fry2010
i dnt think the up move is done yet. 1.4850-4900 i think.
Chart of your thought process by any chance ?
  • #116,770
  • Feb 1, 2009 4:05pm Feb 1, 2009 4:05pm
Any of you guys short from 1.45+ taken profits now or are you looking for lower prices?
  • #116,771
  • Feb 1, 2009 4:12pm Feb 1, 2009 4:12pm
I took a short at 14510 on Friday with a very tight s/l

Checked on saturday and had been taken out as it closed at 14538.
  • #116,772
  • Feb 1, 2009 4:16pm Feb 1, 2009 4:16pm
Quoting Jigsaw
Chart of your thought process by any chance ?
Sure its a bit messy.
Reason i dont think downmove will continue is because of this large retracement looks strong and we just burst through resistance.
We are returning to area of high support i wud expect price to fly away from.
(shud the quotes we are getting to be accurate). Its the highlighted circle area.
Reason why i believe 4850-900 because of large boost area of support back into the 4h wedge to hit topside around this 4850-900, where there is also the 1.618 fib extension.
I also be looking at the blue line area and yellow line above around 4600 for bounce.
Hope this is clear for why i select this area.

* OK sorry I actually cant upload. I have borrowed my sisters laptop because mine got hacked and destroyed. She has vista and it wont find the image im saving. If anyone knows if vista has problems and how to work round it i cud get it on.
I saved it in mt4 alpari program files section, but upload cant find file. sorry.*
  • #116,773
  • Feb 1, 2009 4:27pm Feb 1, 2009 4:27pm
Quoting dode
Any of you guys short from 1.45+ taken profits now or are you looking for lower prices?

Im holding, I traded small lots anyway, Im sure it will go up but how far, no one knows. We may see 1.46 - 1.4650 before BOE rate cut Thursday.

The tug of war between the bears and bulls continue.
  • #116,774
  • Feb 1, 2009 4:39pm Feb 1, 2009 4:39pm
Quoting fry2010
Sure its a bit messy.
Reason i dont think downmove will continue is because of this large retracement looks strong and we just burst through resistance.
We are returning to area of high support i wud expect price to fly away from.
(shud the quotes we are getting to be accurate). Its the highlighted circle area.
Reason why i believe 4850-900 because of large boost area of support back into the 4h wedge to hit topside around this 4850-900, where there is also the 1.618 fib extension.
I also be looking at the blue line area and yellow line above...
That's fine , I see where you are coming from.
  • #116,775
  • Feb 1, 2009 4:47pm Feb 1, 2009 4:47pm
I'm still long from 1.38 area

Lets see if it wants to go higher...
  • #116,776
  • Feb 1, 2009 4:59pm Feb 1, 2009 4:59pm
Closed short from fri night but opened another short @4473
  • #116,777
  • Feb 1, 2009 5:24pm Feb 1, 2009 5:24pm
pound gapped down but still looking healty

the dollar is stronger today though
  • #116,778
  • Feb 1, 2009 5:25pm Feb 1, 2009 5:25pm
  • #116,779
  • Feb 1, 2009 5:27pm Feb 1, 2009 5:27pm
support area 1,4410 - 1,444

let's see if it holds
  • #116,780
  • Feb 1, 2009 5:28pm Feb 1, 2009 5:28pm
am back in the bulls corner again and looking to close the gap in asian session
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