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Cable Update (GBPUSD)

  • #117,641
  • Feb 3, 2009 11:20pm Feb 3, 2009 11:20pm
how far you think she going to go before pulling back down?
  • #117,642
  • Feb 3, 2009 11:24pm Feb 3, 2009 11:24pm
Quoting Ipips
I missed that report. When was that?

FRIDAY IS GIVEN DATA
is the most important of the week, as I


adn i do not know , what crat this

-sory inglish
  • #117,643
  • Feb 3, 2009 11:25pm Feb 3, 2009 11:25pm
I would think 1.443 would be a safer place to short for a quick scalp. Very unclear about where the pound is headed today. Trend looks like it's reversing..
  • #117,644
  • Feb 3, 2009 11:30pm Feb 3, 2009 11:30pm
Quoting juan852

FRIDAY IS GIVEN DATA
is the most important of the week, as I


adn i do not know , what crat this

-sory inglish
not so sure how the report will impact the pound, juan852. Expectations would have already been factored in the market.

I would say it's less important than the interest rate decision of the BOE tomorrow.
  • #117,645
  • Feb 3, 2009 11:40pm Feb 3, 2009 11:40pm
Calendar is pretty light on both sides tomorrow. Rate decision on thursday with a cut expected ... If we are directionless until then, the rate announcement will jolt us in one direction and we can join in on a pullback

For now, 1.4420/35 area looks good to short IF price fails here
  • #117,646
  • Feb 3, 2009 11:49pm Feb 3, 2009 11:49pm
Just added at 25 .. tight stop above next fib
  • #117,647
  • Feb 3, 2009 11:49pm Feb 3, 2009 11:49pm
i went short at 1.4406. If the price reach 1.4440 i'm going to do averaging. (short n short)
  • #117,648
  • Feb 3, 2009 11:57pm Feb 3, 2009 11:57pm
Quoting jack.canadia
I reccommend everyone watch these videos...

Quantifying supply and demand ... http://transcripts.fxstreet.com/2008...what-is-r.html

1-2-3 Pattern ... http://transcripts.fxstreet.com/2008...t-pattern.html
Thx for those, really worth

-------------------

Considering last 3 days ,and 4h/1h close, i would be carefull whit short, its me, and i can be wrong.
  • #117,649
  • Feb 3, 2009 11:57pm Feb 3, 2009 11:57pm
going short at 4422
  • #117,650
  • Feb 4, 2009 12:02am Feb 4, 2009 12:02am
Quoting Inzider
Thx for those, really worth
No prob... try to watch as many videos on there that you can .. These are the two methods I now use to trade .. I also suggest you watch videos posted by Fx Boot Camp .. they will recap trading sessions and also give trade ideas for upcoming sessions .. They give some very valuable technical trading points ... No need to have some colorful system on MT4 to win, just discipline and good money management

Also, if you look right now on the hourly GBP/USD, a 1-2-3 is forming .. it will complete if price cannot sustain a much higher break and thus you should look for a reason to short .. i.e. break throuhg a MA or EMA etc
  • #117,651
  • Feb 4, 2009 12:04am Feb 4, 2009 12:04am
Quoting jack.canadia
I reccommend everyone watch these videos...

Quantifying supply and demand ... http://transcripts.fxstreet.com/2008...what-is-r.html

1-2-3 Pattern ... http://transcripts.fxstreet.com/2008...t-pattern.html

Thanks Mate
  • #117,652
  • Feb 4, 2009 12:09am Feb 4, 2009 12:09am
Quoting jack.canadia

Also, if you look right now on the hourly GBP/USD, a 1-2-3 is forming .. it will complete if price cannot sustain a much higher break and thus you should look for a reason to short .. i.e. break throuhg a MA or EMA etc
Agree 100%. I'll watch that and plot a trendline and FE on it. I was using those but the way its recapitulate make it clear and obvious.
  • #117,653
  • Feb 4, 2009 12:12am Feb 4, 2009 12:12am
Next shorting opportunity seems to be @ 1.4454
I didn't make the quick short scalp at 1.4430 because of how it was consolidating at the 20-25 area.
  • #117,654
  • Feb 4, 2009 12:19am Feb 4, 2009 12:19am
Quoting Inzider
Agree 100%. I'll watch that and plot a trendline and FE on it. I was using those but the way its recapitulate make it clear and obvious.
Yeah they recommend sell on a break below 2 but i wait for a small entry signal off of wave 3 to go short and then place my stop above 3 for a small risk trade
  • #117,655
  • Feb 4, 2009 12:21am Feb 4, 2009 12:21am
Cable
2.08pm

Current price 14421

Trend
1m=UT
5m=UT
15m=UT
30m=UT
1h=DT (weaken)
My prediction trend = UT

Would love to let it retrace until 14300
Looking for LONG possibility..around 14310.

pop
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  • #117,656
  • Feb 4, 2009 12:24am Feb 4, 2009 12:24am
Quoting joemiami
going short at 4422
unbelievable... who is buying ?? dont they know that BOE is cutting interest rates tomorrow ???
  • #117,657
  • Feb 4, 2009 12:25am Feb 4, 2009 12:25am
or do i need to cover my short, I'm still green barely.....
  • #117,658
  • Feb 4, 2009 12:27am Feb 4, 2009 12:27am
Quoting blurrcow
unbelievable... who is buying ?? dont they know that BOE is cutting interest rates tomorrow ???
beats me! 61.8 is holding up though for now of the most recent down swing off the high
  • #117,659
  • Feb 4, 2009 12:29am Feb 4, 2009 12:29am
Quoting blurrcow
unbelievable... who is buying ?? dont they know that BOE is cutting interest rates tomorrow ???
Hmm... maybe BOE is pumping money into the system to cushion the fall after the rate cut decision?

No way of knowing whether sterling will fall even after rate cut. Look at the aussie dollar. It rallied after yesterday's rate cut.
  • #117,660
  • Feb 4, 2009 12:31am Feb 4, 2009 12:31am
Quoting Ipips
Next shorting opportunity seems to be @ 1.4454
I didn't make the quick short scalp at 1.4430 because of how it was consolidating at the 20-25 area.
No longer a good profit/loss to short at 1.4454. Watch for test of highs.
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