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Cable Update (GBPUSD)

  • #130,281
  • Apr 22, 2009 12:26pm Apr 22, 2009 12:26pm
Quoting Terminale
So far the old 1.4515 support , became a resistance. I reshort
Coming up on the NY close. We are both in the money!

See you guys tonight.
  • #130,282
  • Apr 22, 2009 12:50pm Apr 22, 2009 12:50pm
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...
Jack I am leaning towards your viewpoint
  • #130,283
  • Apr 22, 2009 4:41pm Apr 22, 2009 4:41pm
Everyones done the runner have they? Anyway still holding short....
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #130,284
  • Apr 22, 2009 4:49pm Apr 22, 2009 4:49pm
Everyones done the runner have they?


Not everyone. I am holding short too with fingers crossed. Don't expect too much action though till the London open.
  • #130,285
  • Apr 22, 2009 5:17pm Apr 22, 2009 5:17pm
Quoting jack.canadia
Long taken on small pullback to 4480 after moving out of the trendline.


Entry 4480
Stop 4465 (15)

T1 4440 (60)
T2 4600 (120)
This one stopped BE earlier.
Went long again 4480
TP = 4520
SL = BE
  • #130,286
  • Apr 22, 2009 5:38pm Apr 22, 2009 5:38pm
I have been a constant visitor to this thread, as I trade primarily this pair.

I don't expect much movement in the Japan hour.

After the last minute DOW sell off and coupled with the bads UK sentiments after Darling speech, I expect the FTSE to loose ground.

I place a short limit order at 449, expecting the trend to continue down, supported at 1.43.

Hope that add a little to this thread
  • #130,287
  • Apr 22, 2009 10:04pm Apr 22, 2009 10:04pm
Longed a break and re-test of the trendline at 4463.

Closed +60

See next post for next plan.
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  • #130,288
  • Apr 22, 2009 10:17pm Apr 22, 2009 10:17pm
Next trade plan is a break out and re-test of current level with a tight stop.

Current level (4535) is daily pivot, 38.2 retracement from yesterday high and former support/resistance.
Attached Image (click to enlarge)
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  • #130,289
  • Apr 22, 2009 10:35pm Apr 22, 2009 10:35pm
Re-entered at 4537
  • #130,290
  • Apr 22, 2009 10:40pm Apr 22, 2009 10:40pm
Re-tracement time.

Took 90 total on the move.
Attached Image (click to enlarge)
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  • #130,291
  • Apr 22, 2009 10:41pm Apr 22, 2009 10:41pm
Quoting jack.canadia
Re-entered at 4537
you mean long?
  • #130,292
  • Apr 22, 2009 10:43pm Apr 22, 2009 10:43pm
Quoting HelenaY
you mean long?
Yeah. Trade lasted 5 minutes. Got out for +30.
  • #130,293
  • Apr 22, 2009 10:44pm Apr 22, 2009 10:44pm
Quoting jack.canadia
Yeah. Trade lasted 5 minutes. Got out for +30.
As you see, it will up or down?
I see your chart looks like will down......
  • #130,294
  • Apr 22, 2009 10:45pm Apr 22, 2009 10:45pm
a big up for a big down....i think
- Always pray on your trading - God know the best for everyone
  • #130,295
  • Apr 22, 2009 10:46pm Apr 22, 2009 10:46pm
Quoting HelenaY
As you see, it will up or down?
I see your chart looks like will down......
I am favoring up now. Looking to long again.
  • #130,296
  • Apr 22, 2009 10:59pm Apr 22, 2009 10:59pm
Quoting jack.canadia
I am favoring up now. Looking to long again.
The rise is due to profit taking of the pokemons . they will reshort it at around 590
  • #130,297
  • Apr 22, 2009 11:04pm Apr 22, 2009 11:04pm
it would go down first to around 1.4510..and then bounce back i think..but tre
  • #130,298
  • Apr 22, 2009 11:04pm Apr 22, 2009 11:04pm
Quoting Terminale
The rise is due to profit taking of the pokemons . they will reshort it at around 590
I shorted 4581
  • #130,299
  • Apr 22, 2009 11:05pm Apr 22, 2009 11:05pm
Quoting amir.ishak
it would go down first to around 1.4510..and then bounce back i think..but tre
4510-4525 is where I expect a bounce and possible long.
  • #130,300
  • Apr 22, 2009 11:06pm Apr 22, 2009 11:06pm
but trend will be up for today..ema 20 as a support
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