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Cable Update (GBPUSD)

  • #130,261
  • Apr 22, 2009 9:24am Apr 22, 2009 9:24am
Quoting Terminale
1.4350 will be stronger. a 200 pip pip long could be profitable , with just 50/40 pip sl.
So your actually going long from 1.4350, your braver than me, whats your reason for that? the only reason i ask as it doesnt look like a huge level to me.
  • #130,262
  • Apr 22, 2009 9:45am Apr 22, 2009 9:45am
iam down with with 700 pip profit position . I think it wise to risk 40-50 pips for a retracement aiming 4 time what you risk..
  • #130,263
  • Edited 10:20am Apr 22, 2009 9:53am | Edited 10:20am
Quoting bobcat
So your actually going long from 1.4350, your braver than me, whats your reason for that? the only reason i ask as it doesnt look like a huge level to me.
Could'nt agree less. Especting break below 1.4108
In all your ways acknowledge Him and He will direct your path.
  • #130,264
  • Apr 22, 2009 10:03am Apr 22, 2009 10:03am
Quoting Terminale
1.4350 will be stronger. a 200 pip pip long could be profitable , with just 50/40 pip sl.
You forgot to mension 14460. It is currently attempting to reverse there. Seems consistent with the bearish trend on EU.
In all your ways acknowledge Him and He will direct your path.
  • #130,265
  • Apr 22, 2009 10:23am Apr 22, 2009 10:23am
im targetting TP on 4450...will it reach or not...
- Always pray on your trading - God know the best for everyone
  • #130,266
  • Apr 22, 2009 10:37am Apr 22, 2009 10:37am
Long taken on small pullback to 4480 after moving out of the trendline.


Entry 4480
Stop 4465 (15)

T1 4440 (60)
T2 4600 (120)
Attached Image (click to enlarge)
Click to Enlarge Name: entry.gif Size: 36 KB
  • #130,267
  • Apr 22, 2009 10:46am Apr 22, 2009 10:46am
jack, is it mean GB USD will goes down?
- Always pray on your trading - God know the best for everyone
  • #130,268
  • Apr 22, 2009 10:49am Apr 22, 2009 10:49am
Quoting kingindian
jack, is it mean GB USD will goes down?
Right now I'm betting it will go up. But either is possible.

As you can see, I favor up. And I have a another reason as well based on correlations with USDCHF.
  • #130,269
  • Apr 22, 2009 10:54am Apr 22, 2009 10:54am
Dear

If we close daily lower than 1.4468 , for sure we will go down tomorrow

And also if we close upove 1.4580 we will go down

And if we close between them , the down is favor for at least a test of 1.4350

That is my view man

Quoting jack.canadia
Right now I'm betting it will go up. But either is possible.

As you can see, I favor up. And I have a another reason as well based on correlations with USDCHF.
  • #130,270
  • Apr 22, 2009 10:55am Apr 22, 2009 10:55am
A daily close below 8000 in Dowjone will send USD to heaven. and Kangourous and pokemons sessions will be bearish.
  • #130,271
  • Apr 22, 2009 11:10am Apr 22, 2009 11:10am
U mean if Dow close at this current level, then the stock market will down tommrow, and of course GBP and Eurro will also down?....right ?

If u check USD Index chart, till now we are up of the 86 level,,,and if we close bellow it , I will be worry, so I expect an up move for USD index for tommrow or at fraiday

Quoting Terminale
A daily close below 8000 in Dowjone will send USD to heaven. and Kangourous and pokemons sessions will be bearish.
  • #130,272
  • Apr 22, 2009 11:13am Apr 22, 2009 11:13am
Quoting mohfaid
U mean if Dow close at this current level, then the stock market will down tommrow, and of course GBP and Eurro will also down?....right ?

If u check USD Index chart, till now we are up of the 86 level,,,and if we close bellow it , I will be worry, so I expect an up move for USD index for tommrow or at fraiday
A close below 8000 will send the nikkei and other index to ground. A close in Red will be perfect to have a downtrend until US session 2morrow.
  • #130,273
  • Apr 22, 2009 11:17am Apr 22, 2009 11:17am
Quoting mohfaid
U mean if Dow close at this current level, then the stock market will down tommrow, and of course GBP and Eurro will also down?....right ?

If u check USD Index chart, till now we are up of the 86 level,,,and if we close bellow it , I will be worry, so I expect an up move for USD index for tommrow or at fraiday
Hit a 61.8 and PA on the 1 hour dollar index turned bearish. And I am not your dear
  • #130,274
  • Apr 22, 2009 11:21am Apr 22, 2009 11:21am
DOW is down on energy shares. Oil supply was > than expected. Key are the banks.
  • #130,275
  • Apr 22, 2009 11:22am Apr 22, 2009 11:22am
I am sorry for you for that dear word

But itwhen I want to talk to your kind self, how will I start my speach ??

Quoting jack.canadia
Hit a 61.8 and PA on the 1 hour dollar index turned bearish. And I am not your dear
  • #130,276
  • Apr 22, 2009 11:22am Apr 22, 2009 11:22am
Quoting mohfaid
I am sorry for you for that dear word

But itwhen I want to talk to your kind self, how will I start my speach ??
hahah! I like to joke, please don't take those comments to heart!
  • #130,277
  • Apr 22, 2009 11:24am Apr 22, 2009 11:24am
Ok man

Let us be more practical, what is your complete view for GBP for the rest of this week ???



Quoting jack.canadia
hahah! I like to joke, please don't take those comments to heart!
  • #130,278
  • Apr 22, 2009 11:25am Apr 22, 2009 11:25am
Quoting jack.canadia
DOW is down on energy shares. Oil supply was > than expected. Key are the banks.

agreed....... all the panic/euphoria talk has revolved around banks in the last few weeks. not hard to notice or understand why
  • #130,279
  • Apr 22, 2009 11:27am Apr 22, 2009 11:27am
But yeah, heres my view.

Of course, on the daily we made a lower lower, no doubt about it. Thats a sign that medium term we may be getting bearish.

In regards to the DOW, again, energy shares are down. Increase OIL supply = decreased price of oil and thus a bd outlook on energy companies.

The dollar index bounced down from a 61.8 level and price action on the hourly is bearish for now.

But, as a trader, I take trades in both directions. We are down already about 660 on the week and have re-tested the daily trendline as well.

I am short term bullish because my plan was to anticipate a 1-2-3 bottom formation by entering a break of a small trendline, which I did at 4480. A break above 4550 and I will remain bullish.

Also, there is some bullish MACD divergence on the 1 hour and 4 hour charts.

Rest of the week, I don't know. I evaluate taking positions between 7am and noon EST, and from 8pm to 2am EST, so I will know then!


There a many reasons to be a bull and a bear. For now I am bullish.
  • #130,280
  • Apr 22, 2009 11:37am Apr 22, 2009 11:37am
Quoting jack.canadia
But yeah, heres my view.

Of course, on the daily we made a lower lower, no doubt about it. Thats a sign that medium term we may be getting bearish.

In regards to the DOW, again, energy shares are down. Increase OIL supply = decreased price of oil and thus a bd outlook on energy companies.

The dollar index bounced down from a 61.8 level and price action on the hourly is bearish for now.

But, as a trader, I take trades in both directions. We are down already about 660 on the week and have re-tested the daily trendline as well.

I am short...
So far the old 1.4515 support , became a resistance. I reshort
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