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Cable Update (GBPUSD)

  • #134,241
  • May 26, 2009 7:39am May 26, 2009 7:39am
today it gets to a new high.. the trend is not confirmed bullish. still waiting.
  • #134,242
  • Edited 7:47am May 26, 2009 7:46am | Edited 7:47am
Quoting mloistianto
actually i dont suggest u to buy stop at 1.5955.. when ure good, ure good to go.. no emotion involve. its better then trying to catch from the start but lose every bit of it.. just my experience..
Well.. that was very close.. I'd placed a stop buy at 1.5963 as 5955 sounded too close, and then it just came and executed it!
I then read your post, started watching it retrace, and then quickly closed out for $5 profit.. lol
That's playing with fire... I think your advise above, based on experience, was a definitely good call..

I gotta go out tho soon, so I'm now thinking set it at 5975ish and a close stop - just incase, and if it bails out, so be it..
There is some *real* resistance around this mark clearly..
  • #134,243
  • May 26, 2009 7:46am May 26, 2009 7:46am
Quoting Red.Hawk
for me its a no trade zone now...what you guys think? I am waiting for the break off of 5950 region,then we could see the cable to atleast 6050 and then to 6140 for me...its just what my system is suggeting...share our knowledge
already overbought.. should go down.. 6050 not possible to hit today.
  • #134,244
  • May 26, 2009 7:50am May 26, 2009 7:50am
Quoting John Lo
already overbought.. should go down.. 6050 not possible to hit today.
Agree, i think gu exhausted, the status still bearish.. will go down for some time.. +71 pips today... nice day all...
  • #134,245
  • May 26, 2009 7:51am May 26, 2009 7:51am
Same here, i dont see a level to go from that it will break out since it broke yesterdays high and didnt really go that much. GU might be fooling us or just ran out of steem(almost 200 pips) and needs a little breather.

Well +110, i think its a good time to turn the monitor off, turn off alerts and anything else that might beckon me to come to the computer to check...have a good day all, hope u all are in the green.
  • #134,246
  • May 26, 2009 7:58am May 26, 2009 7:58am
Quoting 4xHero
...
Well +110, i think its a good time to turn the monitor off, turn off alerts and anything else that might beckon me to come to the computer to check...have a good day all, hope u all are in the green.
Good call 4xHero !
I'm not setting any buy stops, alerts or other stuff now either..
Watching GU move upwards on the last 1hr candle was like watching 'Laurel & Hardy' trying to get that piano up the steps!! lol

See what London's open brings tomorrow!

Cheers all..

Hope all did well today.
Regards
  • #134,247
  • May 26, 2009 8:00am May 26, 2009 8:00am
yeah.. lol, still playing around with my demo account.. short @1.5955 (dont follow im also playing with my demo account) hoping for small profit..
  • #134,248
  • May 26, 2009 8:03am May 26, 2009 8:03am
Bearish divergence. Market's stalled here.
Attached Image
Hear the music before the song is over ...
  • #134,249
  • May 26, 2009 8:08am May 26, 2009 8:08am
Quoting deboooo2005
hi

i long @ 1.5820

closed @ 1.5950 = 130 pips

i'm out for today .... thanks for who trust me
  • #134,250
  • May 26, 2009 8:10am May 26, 2009 8:10am
Quoting deboooo2005
closed @ 1.5950 = 130 pips

i'm out for today .... thanks for who trust me
Simply AMAZING. Take care.
You've got to be IN IT to WIN IT!
  • #134,251
  • May 26, 2009 8:25am May 26, 2009 8:25am
Still bulllish.
Attached Image (click to enlarge)
Click to Enlarge Name: 10.gif Size: 14 KB
  • #134,252
  • May 26, 2009 8:29am May 26, 2009 8:29am
Quoting juhanimi
Still bulllish.
but risky to go long ...and there is bearish signals so we have to wait to go short

Ub
  • #134,253
  • May 26, 2009 8:34am May 26, 2009 8:34am
The long term trend is still up, however, I will stay short term bearish unless we see a new higher high that holds solidly above the old high.

http://www.spiralmarkets.com/wp-cont...-5-26-2009.gif

That said, if we do not get the pullback in the new couple days I will moderate my stance to neutral.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-5-26-2009.gif Size: 23 KB
  • #134,254
  • May 26, 2009 9:51am May 26, 2009 9:51am
Quoting Ifty
Simply AMAZING. Take care.

thank you ... how is your trading today
  • #134,255
  • May 26, 2009 10:14am May 26, 2009 10:14am
Quoting deboooo2005
thank you ... how is your trading today
I have been trading in shares today and not forex. I have been watching carefully and accessing as well as learning from this great forum. I am intending to make more trades but when the price reaches around 1.60 or well below. These charts are very confusing and unpredictable at present. I wish I had your talent but unfortunately i do not. I will keep trying and hope to get your help from time to time, if thats ok.

PEACE TO YOU ALL.
You've got to be IN IT to WIN IT!
  • #134,256
  • May 26, 2009 10:15am May 26, 2009 10:15am
Quoting 4cfx
Hi, here's my attempt. I have a problem with the current wave 3 count as it still a bit short. Also, I'm trying to keep it a simple ABC corrective count. Your views most appreciated.

Attachment
If you want a more accurate wave count, go to DailyFX.
  • #134,257
  • May 26, 2009 10:30am May 26, 2009 10:30am
This gap I wrote about on the 21st is still resistance to price currently. Although it went beyond the gap a few pips, a breakout has still not occurred.

Below this area is short to medium term bearish.


http://www.forexfactory.com/showpost...stcount=133774
  • #134,258
  • May 26, 2009 11:16am May 26, 2009 11:16am
Quoting jack.canadia
This gap I wrote about on the 21st is still resistance to price currently. Although it went beyond the gap a few pips, a breakout has still not occurred.

Below this area is short to medium term bearish.


http://www.forexfactory.com/showpost...stcount=133774
hey jack do you think it will touch 1.6xx this week or will go down and then touch it in next 1- 2 weeks or later any idea ?i am still confuse its rejected 2-3 times but again and again market comes back to same level just moving around 200-300 points daily any idea ?

Ub
  • #134,259
  • May 26, 2009 12:09pm May 26, 2009 12:09pm
Quoting ubaidahsan
hey jack do you think it will touch 1.6xx this week or will go down and then touch it in next 1- 2 weeks or later any idea ?i am still confuse its rejected 2-3 times but again and again market comes back to same level just moving around 200-300 points daily any idea ?

Ub
Your best and safest bet is to play a breakout of its small range that its in .. 5780/5940 ish
  • #134,260
  • May 26, 2009 12:55pm May 26, 2009 12:55pm
Quoting Ifty
I have been trading in shares today and not forex. I have been watching carefully and accessing as well as learning from this great forum. I am intending to make more trades but when the price reaches around 1.60 or well below. These charts are very confusing and unpredictable at present. I wish I had your talent but unfortunately i do not. I will keep trying and hope to get your help from time to time, if thats ok.

PEACE TO YOU ALL.

Don't said that ... i'm still learning .... You must be careful when you watch and monitor charts, and don't let emotions control you ... And try to determine the direction of Trend ... Trade on the basis of what you see, not on the basis of what hope...
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