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Cable Update (GBPUSD)

  • #132,121
  • May 13, 2009 4:00pm May 13, 2009 4:00pm
Quoting EricB
Guys - Im still running shorts even though picture is unclear and im running losses. There are many export based economies that will find the appreciation of the dollar against their local currency problematic considering the recession and will take steps to buy greenback to appreciate it. The US banks want the dollar to appreciate and NY mellon has been one putting speculating bets and driving prices up - their MacDonalds analogy was ridiculous (Bloomberg etc)- there are several many reasons why a burger is cheaper in the UK than in US and Europe...
I agree with you on this and am only shorting into rallies. Where are you short from? I have one today at 1.5135 targeting 1.5090.
  • #132,122
  • May 13, 2009 4:04pm May 13, 2009 4:04pm
If you feel like understanding about harmonic pattern, here's your chance...
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  • #132,123
  • May 13, 2009 4:35pm May 13, 2009 4:35pm
Quoting 4cfx
I agree with you on this and am only shorting into rallies. Where are you short from? I have one today at 1.5135 targeting 1.5090.
Multiple shorts - 1.498, 1.509, 1.515, 1.525 and 1.535 - obviously some stupid ones in there which Ive left running. I did go long in between but am making sure I keep closing the longs in profit. My strategy though needs a complete overhaul so dont follow this example. My S/L is high 1.545 - I think 1.538 is a major resistance even on the uptrend. Im keeping my fingers crossed but may be bad strategy.
  • #132,124
  • May 13, 2009 7:09pm May 13, 2009 7:09pm
Quoting *Pipster*
You forgot to pray this time... Or maybe this time you're 100% sure!

Good luck.
1.5100 target hit this time

Long at 1.5100
S/L 1.5050
T/P 1.5180
  • #132,125
  • May 13, 2009 7:30pm May 13, 2009 7:30pm
Quoting forex_sake
1.5100 target hit this time

Long at 1.5100
S/L 1.5050
T/P 1.5180
May be I'm wrong... but I think she is going more down now....
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  • #132,126
  • May 13, 2009 7:33pm May 13, 2009 7:33pm
Quoting Heikken
May be I'm wrong... but I think she is going more down now....
She is going to go down but I think he has 180 in mind due to

1. There is a head and shoulder pattern on 4hour that needs to be completed
2. There is a retracement due to 4 hr 5 sma

A perfect entry would be short @ 5180 and take profit of about .14950...by close of play friday....

Good Luck....
Let Price determine your future!
  • #132,127
  • May 13, 2009 7:42pm May 13, 2009 7:42pm
Quoting Geppyg
She is going to go down but I think he has 180 in mind due to

1. There is a head and shoulder pattern on 4hour that needs to be completed
2. There is a retracement due to 4 hr 5 sma

A perfect entry would be short @ 5180 and take profit of about .14950...by close of play friday....

Good Luck....
Can I see your chart?
  • #132,128
  • May 13, 2009 9:28pm May 13, 2009 9:28pm
Quoting Inzider
If you feel like understanding about harmonic pattern, here's your chance...
To the dime baby!

Posted not much ago, here's the result.... anyway, i hope you guys having fun bc i do....

Good trade all!
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  • #132,129
  • May 13, 2009 10:14pm May 13, 2009 10:14pm
1.5111 will be my confirmation level, if she play below this level so 1.4871 area will be my target. But if she play above 1.5207 (lime line) i think she will continue her move up...

KG
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  • #132,130
  • May 13, 2009 10:30pm May 13, 2009 10:30pm
I went long earlier at 1.5110 .. Still holding with stop just below 5100.
  • #132,131
  • May 13, 2009 10:34pm May 13, 2009 10:34pm
Quoting Kang_Gun
1.5111 will be my confirmation level, if she play below this level so 1.4871 area will be my target. But if she play above 1.5207 (lime line) i think she will continue her move up...

KG
Are those positions on ur MT4 all sells?
  • #132,132
  • May 13, 2009 10:35pm May 13, 2009 10:35pm
Quoting jack.canadia
I went long earlier at 1.5110 .. Still holding with stop just below 5100.
And ur TP is? how do you see the trend today jack?im also still holding long from 1.5105.
  • #132,133
  • May 13, 2009 10:43pm May 13, 2009 10:43pm
Quoting jack.canadia
Are those positions on ur MT4 all sells?
Yes jack, all positions are short... i will add more position when the price move as my prediction. Actually, base on my system GU is stay arround critical level (1.5111) and bounce could be happened here but i saw sellers still dominant.... and time will talk. That's just what i see now.. everytime everything could change...

Hope it's help

KG
  • #132,134
  • May 13, 2009 10:47pm May 13, 2009 10:47pm
Quoting Gainmoney
And ur TP is? how do you see the trend today jack?im also still holding long from 1.5105.
Well so far the trend remains bullish until a lower low is formed in price on the higher timeframes (1 hour/4 hour), essentially, bearish below 5100.

I am going to take profit above 5150 and below 5200, and then look to short 5200/30. Can't be greedy on this one and hope for the moon. It's in a tough spot right now so take no chances and when you've got say 20-30 pips, don't hesitate to lock in a bit of it!
  • #132,135
  • May 13, 2009 10:51pm May 13, 2009 10:51pm
US retail sales were shit and that prompted selling, equties fell and now the asian markets are following suit. One would expect the european markets to fall as well, and this will weigh on the pound and provide some strength to the dollar.

Ideally, we may see a run up in the pound and then heavy selling that hopefully breaks 5100. Just a thought, don't hold me to it!
  • #132,136
  • May 13, 2009 11:16pm May 13, 2009 11:16pm
im still my confidence that it will going up to arround 5250 again...
after that big fall...usually there will be an up..(just reversing my word yesterday).

its nice to wait for some news
- Always pray on your trading - God know the best for everyone
  • #132,137
  • May 13, 2009 11:34pm May 13, 2009 11:34pm
Quoting kingindian
im still my confidence that it will going up to arround 5250 again...
after that big fall...usually there will be an up..(just reversing my word yesterday).

its nice to wait for some news
Hi, I am new trader in this game now. Bear is coming but its huge leg hard to break 5100.. Can u tell me what reason it will go up to 5250??
  • #132,138
  • May 13, 2009 11:41pm May 13, 2009 11:41pm
Quoting yauming
Hi, I am new trader in this game now. Bear is coming but its huge leg hard to break 5100.. Can u tell me what reason it will go up to 5250??
no good reason just learning from experience
when it try to reach 5200 last week, it falls to 149xx then rise up to 5300 (as we know)

now it try to reach 5300 but falling again to 151xx (150xx)... so i just thinking it will going up to 52xx or even going more far to 54xx
- Always pray on your trading - God know the best for everyone
  • #132,139
  • Edited 11:59pm May 13, 2009 11:45pm | Edited 11:59pm
Z or W?!?
Flip a coin!

HEHE!
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  • #132,140
  • May 13, 2009 11:55pm May 13, 2009 11:55pm
the cable will come back to 1.48 the very next week before reaching to 1.54.
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