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Cable Update (GBPUSD)

  • #123,641
  • Feb 26, 2009 4:31am Feb 26, 2009 4:31am
Just look at the US index chart....
It seem to be having a best move, break to go head North, or bounce back quickly very soon.
The market is always right, but it is not never wrong!!!
  • #123,642
  • Feb 26, 2009 4:31am Feb 26, 2009 4:31am
Quoting alcando
I took the 14280 level too. Stop at BE for news
Nice one I would def have my stop at BE too now this could still go up a bit more i reckon.
  • #123,643
  • Feb 26, 2009 4:31am Feb 26, 2009 4:31am
I'm still in the fight long from 1.4249
  • #123,644
  • Feb 26, 2009 4:31am Feb 26, 2009 4:31am
Quoting alcando
I took the 14280 level too. Stop at BE for news
You are the Brave Heart.
I almost pull the trigger at 4282, but ... Now 30 pips are missing.
  • #123,645
  • Feb 26, 2009 4:32am Feb 26, 2009 4:32am
Quoting PipLand
Nice work Im gonna wait this out for a bit and see what happens
Thank you ,and I know what you mean it a hard week to trade,nothing is for sure...
  • #123,646
  • Feb 26, 2009 4:34am Feb 26, 2009 4:34am
Quoting mikjurado
I'm still in the fight long from 1.4249
Why did you go long from there? This might be the best time to close this in a long long while, be carefull!
  • #123,647
  • Feb 26, 2009 4:35am Feb 26, 2009 4:35am
out from long. going to wait 4 south bus....but the seat must be clear and clean.
  • #123,648
  • Feb 26, 2009 4:36am Feb 26, 2009 4:36am
Quoting guardians
I did, with a narrow stoploss (-15 pip) at 1.4286.
Hope it come back to 1.4160
Nice one but personally i would have my SL at BE now if i had your trade as another retest of this resistance so soon could easily break
  • #123,649
  • Feb 26, 2009 4:40am Feb 26, 2009 4:40am
Quoting sofia101
Thank you ,and I know what you mean it a hard week to trade,nothing is for sure...
Yeah since coming back from hols last week ive found it much tougher out there, im only using half my usual position size at the moment until things become clearer. Theres too many pairs showing warning signs of major reversals at the moment!
  • #123,650
  • Feb 26, 2009 4:41am Feb 26, 2009 4:41am
Quoting PipLand
Nice one but personally i would have my SL at BE now if i had your trade as another retest of this resistance so soon could easily break
" at BE" what is it mean, frd? Could you explain it?
The market is always right, but it is not never wrong!!!
  • #123,651
  • Feb 26, 2009 4:43am Feb 26, 2009 4:43am
Quoting guardians
" at BE" what is it mean, frd? Could you explain it?
BE = breakeven = stop on entry
  • #123,652
  • Feb 26, 2009 4:43am Feb 26, 2009 4:43am
"I think gu must go down to test 1,36"

Who says that and why?
  • #123,653
  • Feb 26, 2009 4:44am Feb 26, 2009 4:44am
Quoting Heilpraktike
BE = breakeven = stop on entry
oh, yes. Thank man.
The market is always right, but it is not never wrong!!!
  • #123,654
  • Feb 26, 2009 4:47am Feb 26, 2009 4:47am
Quoting goodwings
out from long. going to wait 4 south bus....but the seat must be clear and clean.
Just read this article http://www.forexfactory.com/news.php?do=news&id=155191 which fits in with my Daily charts. Each time I get 2 or 3 Yellow Arrows, it drops 1000 pips. Keeping in mind it has already droped 400 pips since yesterday, 1.34 or 1.36 is my next target.

And, when is the market going to react with Kings' speach?
Attached Image
  • #123,655
  • Feb 26, 2009 5:07am Feb 26, 2009 5:07am
im thinking longs are in order now.. reason: well, the short signal is very weak and this is evident if you see the daily chart - look at the MACD levels for instance and even the RSI(14) - also momentum is rising... im targeting 4560 levels and i do not think that it will test the lows again today. Having said that my stop loss is at the lows of today - entered at 4260!
  • #123,656
  • Feb 26, 2009 5:08am Feb 26, 2009 5:08am
For the record, I closed my short at 14250. There does not seem to be anything yet to indicate that the fall will continue so the original sentiment from the banks may continue. I am happy to bank profits in this case and remain flat till things clear up. I am not happy to go long tho. Maybe MK will drop some more hints soon but he is putting me to sleep now..
Ride the Bulls bearback!
  • #123,657
  • Feb 26, 2009 5:09am Feb 26, 2009 5:09am
Don't bother taking any more trades, the world is coming to an end.
Mervyn King spoke, and the pound didn't drop .... if that's not a sign of the end the of world,
I don't know what is!
  • #123,658
  • Feb 26, 2009 5:21am Feb 26, 2009 5:21am
Quoting alcando
For the record, I closed my short at 14250. There does not seem to be anything yet to indicate that the fall will continue so the original sentiment from the banks may continue. I am happy to bank profits in this case and remain flat till things clear up. I am not happy to go long tho. Maybe MK will drop some more hints soon but he is putting me to sleep now..
Nice trading! Im in exactly the same boat there isnt any clear trade at the moment.

My guess is we will prob spend the rest of the day making a Bear flag. So im gonna go out instead lol
  • #123,659
  • Feb 26, 2009 5:26am Feb 26, 2009 5:26am
M15 bear flag?
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  • #123,660
  • Feb 26, 2009 5:36am Feb 26, 2009 5:36am
Yes on the H1, H4 there is a bear flag. For it to work this could range up to 14335 or more likely possible 14370 and then continue. A biut of unemployment news later in the US and the treasuries auction could help it play out.

I am flat for now. Profits in pockets, arse on hands. If I had to gamble this, it would be a pop up initially but I wont.

Quoting MuSaB
M15 bear flag?
Ride the Bulls bearback!
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