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Cable Update (GBPUSD)

  • #122,221
  • Feb 20, 2009 9:38am Feb 20, 2009 9:38am
if you want to catch a few nice pips..there is a trend line forming..and needs to either be broken or supported...from past current events..it will break..and gain you a short for around 20 to more pips..

short below trend line..catch the move...it is being squeezed into a tight formation. somethings got to give..

unless volume goes away...we may see a nice drop before noon...

u/j
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  • #122,222
  • Feb 20, 2009 9:40am Feb 20, 2009 9:40am
Quoting sbhaumik
at what point would you decide to run away?
Sl's at 4325 and 4340 now which is currently my BE + few pips. Im still bearish though and expecting this to go down
  • #122,223
  • Feb 20, 2009 9:41am Feb 20, 2009 9:41am
Would someone post their 4h chart with the candle that closes in 20 min?

Thank you!
EO
Just digging in the trenches like everyone else!
  • #122,224
  • Feb 20, 2009 9:44am Feb 20, 2009 9:44am
Quoting JammerJams
if you want to catch a few nice pips..there is a trend line forming..and needs to either be broken or supported...from past current events..it will break..and gain you a short for around 20 to more pips..

short below trend line..catch the move...it is being squeezed into a tight formation. somethings got to give..

unless volume goes away...we may see a nice drop before noon...

u/j
thanks for your tips JJ and i agree with you..
pop
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  • #122,225
  • Feb 20, 2009 9:46am Feb 20, 2009 9:46am
Quoting eohater
Would someone post their 4h chart with the candle that closes in 20 min?

Thank you!
EO
Here you go.
Attached Image
  • #122,226
  • Feb 20, 2009 9:49am Feb 20, 2009 9:49am
I agree with Pipland, this thing sure looks like its setting up for the drop.
  • #122,227
  • Feb 20, 2009 9:51am Feb 20, 2009 9:51am
Quoting TheDirtySerb
Here you go.
Thank you! Looks like yours is going to be an indecisive candle. If we close at the current price in an 1h 10m, I will have a hangman on my 4h. DOWN periscope will be coming then.

We'll see where she ends up..

Thank you again!
EO
Just digging in the trenches like everyone else!
  • #122,228
  • Feb 20, 2009 9:58am Feb 20, 2009 9:58am
Quoting eohater
Thank you! Looks like yours is going to be an indecisive candle. If we close at the current price in an 1h 10m, I will have a hangman on my 4h. DOWN periscope will be coming then.

We'll see where she ends up..

Thank you again!
EO

Anytime. Lets see where she goes.
  • #122,229
  • Feb 20, 2009 10:01am Feb 20, 2009 10:01am
Quoting eohater
Would someone post their 4h chart with the candle that closes in 20 min?

Thank you!
EO
Heres a closed one, not much difference
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  • #122,230
  • Feb 20, 2009 10:02am Feb 20, 2009 10:02am
DOW at 6900 before day ends?

If we see 6900 on the DOW today, I think every American needs to drive to Wallstreet and execute all the traders. These assholes keep shorting and shorting and shorting. Before long, we'll be at ZERO, then they'll have no place to go but long. Oh, wait a minute, there won't be a country left because the asshole traders closed all the companies in America by shorting everyone's stock. I guess they can go stand in line for their bread and cheese like every other American.
Just digging in the trenches like everyone else!
  • #122,231
  • Feb 20, 2009 10:02am Feb 20, 2009 10:02am
Cable has gone back and forth across the weeks open @1.4232 and I see it resting close by there by the end of today short from 1.4332 shall wait and see personally I saw it as a tough week to trade this pair in particular!
  • #122,232
  • Feb 20, 2009 10:04am Feb 20, 2009 10:04am
Quoting PipLand
Heres a closed one, not much difference
Not much different in deed. I'll post mine in 47m when it closes.
Just digging in the trenches like everyone else!
  • #122,233
  • Feb 20, 2009 10:04am Feb 20, 2009 10:04am
Market is ranging. I am out for this week. I hope we see some nice swings on the 5 trading days left in February.
  • #122,234
  • Feb 20, 2009 10:04am Feb 20, 2009 10:04am
Quick long 1.4305, closed + 20 pips !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #122,235
  • Feb 20, 2009 10:06am Feb 20, 2009 10:06am
Quoting eohater
DOW at 6900 before day ends?

If we see 6900 on the DOW today, I think every American needs to drive to Wallstreet and execute all the traders. These assholes keep shorting and shorting and shorting. Before long, we'll be at ZERO, then they'll have no place to go but long. Oh, wait a minute, there won't be a country left because the asshole traders closed all the companies in America by shorting everyone's stock. I guess they can go stand in line for their bread and cheese like every other American.
Its mad isnt, the footsie over here is diving too!
  • #122,236
  • Feb 20, 2009 10:10am Feb 20, 2009 10:10am
Quoting eohater
Not much different in deed. I'll post mine in 47m when it closes.
cool cheers
  • #122,237
  • Feb 20, 2009 10:17am Feb 20, 2009 10:17am
Quoting JammerJams
yup...usd is weak all around...other pairs gaining on usd...gbp is mixed..im out for the day..and set alarms..and get some good sleep...and then wake in 3 hours..and have nice lunch..and prepare for a great weekend...

only solid short..may be u/j drop from high of 94.28 may take a few nice pips on this position...and hold with +BE over the weekend...

have a great weekend all..
ciao
Good call on u/j ,now at b/e, how far do you think will go down.
Short at 94.264, first time I traded u/j
Thanks
  • #122,238
  • Feb 20, 2009 10:21am Feb 20, 2009 10:21am
Quoting eohater
DOW at 6900 before day ends?

If we see 6900 on the DOW today, I think every American needs to drive to Wallstreet and execute all the traders. These assholes keep shorting and shorting and shorting. Before long, we'll be at ZERO, then they'll have no place to go but long. Oh, wait a minute, there won't be a country left because the asshole traders closed all the companies in America by shorting everyone's stock. I guess they can go stand in line for their bread and cheese like every other American.
It's frustrating to watch such destruction of confidence and wealth, I agree.

Although I wouldn't blame short-sellers for the chaos we are seeing. The huge falls in equities are the side effect of a deflating asset bubble, caused by years of cheap and available money and credit.

In my opinion, the short-sellers are only the messengers in relation to the deep-rooted problems in the system and are not the reason why the US banking system, as a whole, is insolvent, for example. On many fundamental measures, it would not be surprising to see the S&P 500 fall way below 600 before bottoming out.

On a different note, in forex trading we constantly short currencies that we do not own, purely for speculative reasons. In the past, currency speculators (read traders) have been blamed for destroying economies, driving up interest rates and causing hyper-inflation and mass unemployment.
  • #122,239
  • Feb 20, 2009 10:27am Feb 20, 2009 10:27am
I get this feeling next week we will be jumping to near 1.47ish. Daily shows that we are trading on top of downtrend support line. BTW does anyone know how to do save screens on Mac's
"Don't work for your money, but let money work for you."
  • #122,240
  • Feb 20, 2009 10:28am Feb 20, 2009 10:28am
Quoting gammase1

On a different note, in forex trading we constantly short currencies that we do not own, purely for speculative reasons. In the past, currency speculators (read traders) have been blamed for destroying economies, driving up interest rates and causing hyper-inflation and mass unemployment.
I tend to agree. I recall George Soros shorting the pound with massive trades that nearly brought the British empire to it's knees.

Traders also ran oil up for no other reason than to make massive profits. On a smaller scale we're all involved in doing the same thing. We want to make a profit regardless of how it affects others.
Hi, my name is Barry and you can keep your doctor...
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