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Cable Update (GBPUSD)

  • #130,581
  • Apr 27, 2009 8:48am Apr 27, 2009 8:48am
Quoting Bull_Bear
Agreed cable is flat.... not calling for massive move. Calling direction from an entry point. Could consolidate 10 times in a range for all i care, until such time a trend change happens I will not alter my position.
Took a short this morning. In at 4590. I like current levels!
  • #130,582
  • Apr 27, 2009 8:54am Apr 27, 2009 8:54am
Quoting jack.canadia
Took a short this morning. In at 4590. I like current levels!
Yup Jack, I prefer the short side, still holding my short from 1.4580 took another @ 1.4620. I'm hopeful of price consolidation to the downside to an eventual breakout south. Thats the plan anyhow.... remember plan is the operative word
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #130,583
  • Apr 27, 2009 9:02am Apr 27, 2009 9:02am
Quoting Bull_Bear
Yup Jack, I prefer the short side, still holding my short from 1.4580 took another @ 1.4620. I'm hopeful of price consolidation to the downside to an eventual breakout south. Thats the plan anyhow.... remember plan is the operative word
haha yeah. dollar index is trying to break higher anyway so that may provide a push for us
  • #130,584
  • Apr 27, 2009 9:03am Apr 27, 2009 9:03am
Dear Bull Bear and Jack

I am keeping my shorts targetting 1.4120 and see what will be the PA on that area and ofcourse I see a new low very soon,,may be next month

I hope so guys, what is your view?

Quoting Bull_Bear
Yup Jack, I prefer the short side, still holding my short from 1.4580 took another @ 1.4620. I'm hopeful of price consolidation to the downside to an eventual breakout south. Thats the plan anyhow.... remember plan is the operative word
  • #130,585
  • Apr 27, 2009 9:17am Apr 27, 2009 9:17am
Quoting mohfaid
Dear Bull Bear and Jack

I am keeping my shorts targetting 1.4120 and see what will be the PA on that area and ofcourse I see a new low very soon,,may be next month

I hope so guys, what is your view?
If it can break below 4400 and stay then I dont see why 41xx won't be tested. Take some profits on the way nonetheless.
  • #130,586
  • Apr 27, 2009 9:21am Apr 27, 2009 9:21am
Quoting mohfaid
Dear Bull Bear and Jack

I am keeping my shorts targetting 1.4120 and see what will be the PA on that area and ofcourse I see a new low very soon,,may be next month

I hope so guys, what is your view?
I'm looking below 1.4500 for continuation southward. Hopeful of a breakout to the 1.4100 level and eventually to the long term rising trend (4H) before a serious bounce north. However that can many sessions away. Of course this play will only taken only if the break south eventuates.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #130,587
  • Apr 27, 2009 9:28am Apr 27, 2009 9:28am
Hi Guys:
I am a newbie to charting but the 60 min looks like a possible "butterfly" can some of you more experienced guys take a look?

Sorry I don't know how to post a chart yet:{
  • #130,588
  • Apr 27, 2009 9:28am Apr 27, 2009 9:28am
Quoting jack.canadia
If it can break below 4400 and stay then I dont see why 41xx won't be tested. Take some profits on the way nonetheless.
1.4400 is HL on tf D1, I expected another HL not LL
Attached Image (click to enlarge)
Click to Enlarge Name: guday2704.gif Size: 15 KB
newbies yang minat nak belajar forex, sila ym saya, ym: ammal007
  • #130,589
  • Apr 27, 2009 9:43am Apr 27, 2009 9:43am
it's putting up a good fight - fascinating to watch tussle between bulls and bears
  • #130,590
  • Apr 27, 2009 9:45am Apr 27, 2009 9:45am
Quoting ammal07
1.4400 is HL on tf D1, I expected another HL not LL
Ammal, it's more like this.
Attached Image (click to enlarge)
Click to Enlarge Name: d1.gif Size: 39 KB
  • #130,591
  • Apr 27, 2009 9:55am Apr 27, 2009 9:55am
Quoting jack.canadia
Ammal, it's more like this.
thanks for your chart...
newbies yang minat nak belajar forex, sila ym saya, ym: ammal007
  • #130,592
  • Apr 27, 2009 10:13am Apr 27, 2009 10:13am
our from one long now looking for short and waiting to its cross its high then i will go for short added pending order already....

Ub
  • #130,593
  • Apr 27, 2009 10:28am Apr 27, 2009 10:28am
Aborting shorts @ 1.4580 and 1.4620, closed out 1.4645 -80pips, live to fight another day...
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #130,594
  • Apr 27, 2009 10:29am Apr 27, 2009 10:29am
Quoting Bull_Bear
I'm looking below 1.4500 for continuation southward. Hopeful of a breakout to the 1.4100 level and eventually to the long term rising trend (4H) before a serious bounce north. However that can many sessions away. Of course this play will only taken only if the break south eventuates.
Wow a new word 'eventuates' - I have been using 'happens' all these years, so I am ready for a change

It's an exciting time in forex and cable is at a decision point I reckon

Psychologically, I reckon 1.50 feels bit lofty right now and 1.36 is too low - so using advanced maths, I reckon 1.43 is about right

Perhaps I should write a book !
  • #130,595
  • Apr 27, 2009 10:36am Apr 27, 2009 10:36am
If cable breakout 4679-4685 then going in space Short only if cable down to 4615. This is my imho
  • #130,596
  • Apr 27, 2009 10:49am Apr 27, 2009 10:49am
Quoting kostyabl
If cable breakout 4679-4685 then going in space Short only if cable down to 4615. This is my imho
Space will be fine by me

I have been using strong USD to buy shares and indexes all around the world and I still have GBP at the bank of england (I don't even trust Lloyds/Halifax) - - so come on space for the GBP

Seriously though, I reckon space would be 1.65 and I would be seriously chuffed with that. But since the world is so uncertain, I reckon that tootling around upper 1.40's is more like it for now...

< 1.36 would have me flogging my USD and sticking it in the BOE in cash
  • #130,597
  • Apr 27, 2009 11:02am Apr 27, 2009 11:02am
Quoting allserene
Space will be fine by me

I have been using strong USD to buy shares and indexes all around the world and I still have GBP at the bank of england (I don't even trust Lloyds/Halifax) - - so come on space for the GBP

Seriously though, I reckon space would be 1.65 and I would be seriously chuffed with that. But since the world is so uncertain, I reckon that tootling around upper 1.40's is more like it for now...

< 1.36 would have me flogging my USD and sticking it in the BOE in cash
Ultimate support is 4648-4635. While it have not punched there is a probability of lifting upwards
  • #130,598
  • Apr 27, 2009 11:23am Apr 27, 2009 11:23am
If I were you I would be VERY careful with the shorts..........
  • #130,599
  • Apr 27, 2009 11:23am Apr 27, 2009 11:23am
I think price may well stay in this channel down to 1.40.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd.gif Size: 29 KB
Probability Professor
  • #130,600
  • Apr 27, 2009 11:32am Apr 27, 2009 11:32am
anybody agree that we r going to hit 1.4740 soon?
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