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Cable Update (GBPUSD)

  • #120,521
  • Feb 15, 2009 7:14pm Feb 15, 2009 7:14pm
or you could go long now with a small sl around 4195, with a 1:1 risk reward. There usually are retracements after big gaps like that. That's usually the case, I can be wrong. But with that double bottom forming with dragon, it might just go up. Just a thought ..
Thank You
  • #120,522
  • Feb 15, 2009 7:22pm Feb 15, 2009 7:22pm
Quoting wormboy
or you could go long now with a small sl around 4195, with a 1:1 risk reward. There usually are retracements after big gaps like that. That's usually the case, I can be wrong. But with that double bottom forming with dragon, it might just go up. Just a thought ..
Price isn't giving me a reason to do anything right now. And in my experience, blind trades based on what you expect are usually wrong. Also, I lnever like placing a SL greater than 25 pips.
  • #120,523
  • Feb 15, 2009 7:26pm Feb 15, 2009 7:26pm
Do I see a gap here? Or is it just my broker?

What closing price do you all have on Friday? 1.4399 here.
  • #120,524
  • Feb 15, 2009 7:29pm Feb 15, 2009 7:29pm
Quoting NuckingFuts
Do I see a gap here? Or is it just my broker?

What closing price do you all have on Friday? 1.4399 here.
Exact same.
  • #120,525
  • Feb 15, 2009 7:34pm Feb 15, 2009 7:34pm
Quoting jack.canadia
Exact same.
Cheers Jack
  • #120,526
  • Feb 15, 2009 7:36pm Feb 15, 2009 7:36pm
i went long @ 1.42241, put a stop loss @ 1.42426, letting it ride.. dont really care what happens, already have money guarenteed.
lowest draw down possible please.
  • #120,527
  • Feb 15, 2009 7:45pm Feb 15, 2009 7:45pm
Quoting jack.canadia
Price isn't giving me a reason to do anything right now. And in my experience, blind trades based on what you expect are usually wrong. Also, I lnever like placing a SL greater than 25 pips.
I won't take the trade because my bias is short. But, blind trade? I don't think so. Counter-trend traders and scalpers would have took it.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.JPG Size: 117 KB
Thank You
  • #120,528
  • Feb 15, 2009 7:49pm Feb 15, 2009 7:49pm
Anyone can explain me why USD/JPY is in "corrolation" whit GU?!?
or its a wrong impression.
  • #120,529
  • Feb 15, 2009 8:03pm Feb 15, 2009 8:03pm
Quoting wormboy
I won't take the trade because my bias is short. But, blind trade? I don't think so. Counter-trend traders and scalpers would have took it.
Of course. What I meant by a blind trade is taking the trade right as price hits a level. I wait for a pullback off a level and then wait for a retest or a 50/61.8% fib back to the level to then initiate my trade with a SL beyond the level in question or just beyond 78%. Otherwise, a break and fib re-test and I initiate a trade in the opposite direction. This way, price has shown me what's going on and thus I follow it.
  • #120,530
  • Feb 15, 2009 8:14pm Feb 15, 2009 8:14pm
Cable Still into Downtrend (Daily basis)

Big Resistence is 1.6330 .

H4 Resistence is 1.4628.

I dont see any Entry point at moment.
  • #120,531
  • Feb 15, 2009 8:33pm Feb 15, 2009 8:33pm
Quoting GoldenSpur
Cable Still into Downtrend (Daily basis)

Big Resistence is 1.6330 .

H4 Resistence is 1.4628.

I dont see any Entry point at moment.
correct..I do not see anything that will not risk heavily...

there is a nice wedge forming..and in time..will decide direction...so...for now..relax and measure...and dont jump in without proper r/s breech

unless you are just gambling..and not trading
Attached Image
  • #120,532
  • Feb 15, 2009 8:46pm Feb 15, 2009 8:46pm
a tightly wound currency pair is u/c

we may see a nice breech to hit 1.1780 or drop down to test 1.150x

just an observation..
Attached Image
  • #120,533
  • Feb 15, 2009 9:07pm Feb 15, 2009 9:07pm
hi all
hourly wave chart
Attached Image (click to enlarge)
Click to Enlarge Name: gh.gif Size: 32 KB
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  • #120,534
  • Feb 15, 2009 9:16pm Feb 15, 2009 9:16pm
Quoting derek
hi all
hourly wave chart
Appreciated, i like nice clean analysis. Any clear mind view is one worth to look at.
Bookmarked...
  • #120,535
  • Edited 10:40pm Feb 15, 2009 10:25pm | Edited 10:40pm
Based on Abuawad paltform, I went short 1.4234, because M15/M30/H4 opens/closes below 1.4239 and M15 hold below ema10 ! I hope next M15 closes below DP 1.4225 to make me comfortable ! SL 1.4250. Target hunting SL, now I move to + 8 pips !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #120,536
  • Feb 15, 2009 10:32pm Feb 15, 2009 10:32pm
GBP Rightmove HPI m/m :
actual: 1.2%, prev: -1.9%

hic hic, House price HPI rise for the first time after so many months
I also see a big Gap need to be filled
Give me patience
  • #120,537
  • Feb 15, 2009 10:43pm Feb 15, 2009 10:43pm
Quoting manize
Based on Abuawad paltform, I went short 1.4234, because M15/M30/H4 opens/closes below 1.4239 and M15 hold below ema10 ! I hope next M15 closes below DP 1.4225 to make me comfortable ! SL 1.4250. Target hunting SL, now I move to + 8 pips !
Shit hit + 7 pips ! Stand a side, waiting for significan move on next H4 open/close, London session !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #120,538
  • Feb 15, 2009 10:50pm Feb 15, 2009 10:50pm
in from 1.4239....

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

USD index just broke 86.66, let's see if it can establish itself there, or just bounce back!
  • #120,539
  • Feb 15, 2009 10:58pm Feb 15, 2009 10:58pm
Quoting Inzider
in from 1.4239....

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

USD index just broke 86.66, let's see if it can establish itself there, or just bounce back!
Nice entry !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #120,540
  • Feb 15, 2009 10:58pm Feb 15, 2009 10:58pm
Quoting Inzider
in from 1.4239....

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

USD index just broke 86.66, let's see if it can establish itself there, or just bounce back!
86.80 is the area to look at...
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