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Cable Update (GBPUSD)

  • #132,281
  • May 14, 2009 10:21am May 14, 2009 10:21am
Quoting mloistianto
anyone do long? whats your tp?

The weekly has a lot of momentum...1.65 is a bit wishful but is it next level (38.2) ... today tomorrow 1.53 may be a pitstop.
  • #132,282
  • May 14, 2009 10:22am May 14, 2009 10:22am
Quoting jack.canadia
You mean short now if price goes back to 5145?
yup
  • #132,283
  • May 14, 2009 10:24am May 14, 2009 10:24am
ow its just a small spike then?? well anyone on shorts then?
  • #132,284
  • May 14, 2009 10:24am May 14, 2009 10:24am
Quoting Faryad
yup
If price goes back down to 5145, why would you short there? You are selling, after selling has taken place.

If you want to short, you're better off trying a short now in the 90's with a stop just above 5110. Im in at 5195, stop 15 pips away.
  • #132,285
  • May 14, 2009 10:25am May 14, 2009 10:25am
Quoting mloistianto
ow its just a small spike then?? well anyone on shorts then?
You have guys long from sub 5100 and some of us looking to short. I just hope you arent trading real money so you dont end up losing from listening to one of the sides.
  • #132,286
  • May 14, 2009 10:26am May 14, 2009 10:26am
Quoting jack.canadia
Dont go long.

Why?
  • #132,287
  • May 14, 2009 10:27am May 14, 2009 10:27am
And if she breaks below 5060, target is 4960. Higher would be targets mentioned above.
  • #132,288
  • May 14, 2009 10:28am May 14, 2009 10:28am
well, actually im just asking because im not trying to do anything.. just trying to figure things out..thanks anyway jack... btw, are u on shorts? looks promising..
  • #132,289
  • May 14, 2009 10:29am May 14, 2009 10:29am
Quoting dzackfx
Why?
Price just spiked up like 50 pips. Why would you go long after that occurred?

Alot of this un-explained spikes are fakeouts by the large, smart money to make us think about long while they start to go short. I will only go long if 5200 breaks and holds.
  • #132,290
  • May 14, 2009 10:30am May 14, 2009 10:30am
Quoting mloistianto
well, actually im just asking because im not trying to do anything.. just trying to figure things out..thanks anyway jack... btw, are u on shorts? looks promising..
Wow spikes all around lol Ya from 5195, stop at 5210. Not willing to risk more as the trend from this level has no clearly defined itself.
  • #132,291
  • May 14, 2009 10:30am May 14, 2009 10:30am
Quoting jack.canadia
Price just spiked up like 50 pips. Why would you go long after that occurred?

Alot of this un-explained spikes are fakeouts by the large, smart money to make us think about long while they start to go short. I will only go long if 5200 breaks and holds.
And thats not saying every spike is like this, but alot of them can be.
  • #132,292
  • May 14, 2009 10:32am May 14, 2009 10:32am
5200....amazing...
5250 then goes down.....
- Always pray on your trading - God know the best for everyone
  • #132,293
  • May 14, 2009 10:33am May 14, 2009 10:33am
Shorted at 1.52. First target 1.5130.
  • #132,294
  • May 14, 2009 10:34am May 14, 2009 10:34am
Quoting jack.canadia
Price just spiked up like 50 pips. Why would you go long after that occurred?

Alot of this un-explained spikes are fakeouts by the large, smart money to make us think about long while they start to go short. I will only go long if 5200 breaks and holds.
i agree with you, even trend is up...better to wait
the up in short time will take it down in next hour maybe.
- Always pray on your trading - God know the best for everyone
  • #132,295
  • May 14, 2009 10:35am May 14, 2009 10:35am
Quoting 4cfx
Shorted at 1.52. First target 1.5130.
Make sure to use a stop. 52 looks pretty tough but if it gives out I wouldnt doubt a run to 5250.
  • #132,296
  • May 14, 2009 10:38am May 14, 2009 10:38am
hey guys do you trade on what you expect to happen or do you wait for the charts to show you proof

so if i expect a SHS pattern forming, is it risky to just put a pending order to sell at 1.524, equivalent to left shoulder?

or should i wait for some confirmation like price rejection off 1.524, like 20 pips after bouncing off, then entering?
  • #132,297
  • May 14, 2009 10:41am May 14, 2009 10:41am
My View

i long @ 1.5090
Attached Image (click to enlarge)
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  • #132,298
  • May 14, 2009 10:43am May 14, 2009 10:43am
Quoting nooblaster
hey guys do you trade on what you expect to happen or do you wait for the charts to show you proof

so if i expect a SHS pattern forming, is it risky to just put a pending order to sell at 1.524, equivalent to left shoulder?

or should i wait for some confirmation like price rejection off 1.524, like 20 pips after bouncing off, then entering?
Wait for proof. Never guess.
  • #132,299
  • May 14, 2009 10:44am May 14, 2009 10:44am
RSI TF 15 overbuy...
wait for a fall
patience will pay
- Always pray on your trading - God know the best for everyone
  • #132,300
  • May 14, 2009 10:46am May 14, 2009 10:46am
Quoting deboooo2005
My View

i long @ 1.5090
I really do think this rally is due for a correction. The DOW has met up with a large trendline and I dont see any reasons in the near future for equities to rally anymore, unless someone starts praising the global economy again. And with MACD bearish divergence into the 53xx high on the 1-hour, along with 4-hour divergence, thats enough to tell me a reversal may be in the making.
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