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Cable Update (GBPUSD)

  • #135,901
  • Jun 8, 2009 4:06am Jun 8, 2009 4:06am
Quoting Bull_Bear
Sounds ..
I saw your call on buying not too long ago. Your stop was placed right where I mentioned to 4cfx about the small s/r. Good eye mate
I won't go long tho, you know how I roll, I hate the adrenaline going against the trend. But you're doing it safe my friend. Good luck
Thank You
  • #135,902
  • Jun 8, 2009 4:07am Jun 8, 2009 4:07am
Quoting 4cfx
Like you two..
But don't forget, plans can change in a hurry, don't forget to short when you spot further weakness my friend
Thank You
  • #135,903
  • Jun 8, 2009 4:20am Jun 8, 2009 4:20am
Quoting wormboy
I saw your call on buying not too long ago. Your stop was placed right where I mentioned to 4cfx about the small s/r. Good eye mate
I won't go long tho, you know how I roll, I hate the adrenaline going against the trend. But you're doing it safe my friend. Good luck
yup cus.... we speak the same language
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #135,904
  • Jun 8, 2009 4:24am Jun 8, 2009 4:24am
Quoting 4cfx
Like you two, I'm wanting to short at 5950 or 60 level.

Wormboy, you may well be right in the sideways movement. I'll have to learn to be patient.
4cfx Stick to the plan mate. Patience pays $$
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #135,905
  • Jun 8, 2009 4:29am Jun 8, 2009 4:29am
Quoting Bull_Bear
4cfx Stick to the plan mate. Patience pays $$
Very nice, very sharp...
  • #135,906
  • Jun 8, 2009 4:33am Jun 8, 2009 4:33am
good call bull bear next action is selling from 950???

wormboy keep it up tahnks for postings i missed 60 pips long but waiting to get another sell from 950 it will ok if i short again from 950??holding 1 sell already??? and locked 70 pips already please advice


Ub
  • #135,907
  • Jun 8, 2009 4:35am Jun 8, 2009 4:35am
Quoting ubaidahsan
good call bull bear next action is selling from 950???

wormboy keep it up tahnks for postings i missed 60 pips long but waiting to get another sell from 950 it will ok if i short again from 950??holding 1 sell already??? and locked 70 pips already please advice


Ub
I will short around 1.5930.. 1.5920 is a very good resistance in the past..
  • #135,908
  • Jun 8, 2009 4:39am Jun 8, 2009 4:39am
Quoting Bull_Bear
Sounds like a nice enough plan Wormboy. 1.5950 is where i aslo have shorties in mind, as I have long on the table now. If market takes back 1.6000, than 1.6060 would serve as a beautiful set-up for shorts again. Lets see

Yep.

I'm also looking a retracement up to the 30min bearish trendline at about 1.595-1.597 with a tightish SL.
  • #135,909
  • Jun 8, 2009 4:55am Jun 8, 2009 4:55am
Quoting Bull_Bear
4cfx Stick to the plan mate. Patience pays $$
Thanks mate. Are you still waiting for 5920 to break before taking profit? If it breaks, 1.60 will be in sight.
  • #135,910
  • Jun 8, 2009 4:57am Jun 8, 2009 4:57am
Quoting wormboy
But don't forget, plans can change in a hurry, don't forget to short when you spot further weakness my friend
Thanks. I'm keeping my eyes open and waiting.
  • #135,911
  • Jun 8, 2009 5:06am Jun 8, 2009 5:06am
Quoting 4cfx
Thanks mate. Are you still waiting for 5920 to break before taking profit? If it breaks, 1.60 will be in sight.
Yeah dude..... 1.5940 is my target, than lookin' to turn south @ 1.5950..... will observe price action if downward price unfolds (around 1.5850/70), may long again to 1.6060, but play by ear.... try not to get too far ahead of myself.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #135,912
  • Jun 8, 2009 5:14am Jun 8, 2009 5:14am
Any thoughts on why the GBP/USD got so strong , thought the dollar was suppose to have turned arounf strong, doesn't look like it. Big retrace from overnight high?
  • #135,913
  • Jun 8, 2009 5:24am Jun 8, 2009 5:24am
Quoting 4cfx
Thanks. I'm keeping my eyes open and waiting.
Remember these charts from last week? : http://www.forexfactory.com/showpost...postcount=1230


Still in play my friend, wait for the weakness to show ....
Attached Image (click to enlarge)
Click to Enlarge Name: gu1v.JPG Size: 80 KB
Thank You
  • #135,914
  • Jun 8, 2009 5:26am Jun 8, 2009 5:26am
Quoting currencyexch
Any thoughts on why the GBP/USD got so strong , thought the dollar was suppose to have turned arounf strong, doesn't look like it. Big retrace from overnight high?
I don't see strong sterling? You will only see or think this if you sold low.
Thank You
  • #135,915
  • Jun 8, 2009 5:30am Jun 8, 2009 5:30am
Quoting wormboy
Remember these charts from last week? : http://www.forexfactory.com/showpost...postcount=1230


Still in play my friend, wait for the weakness to show ....
How do you decide when it's showing sufficient weakness? Eg, I think 5930 is showing strong resistance and am tempted to short here. But there's also strong support at 5909 so I'm thinking wait. Also, trend is bullish on the shorter tfs (all 15m, 30m and 1h).
  • #135,916
  • Jun 8, 2009 5:31am Jun 8, 2009 5:31am
Quoting wormboy
I don't see strong sterling? You will only see or think this if you sold low.

went short @ 1.5896 for sure thinking it was gogin south with tight backstop (20 pips) and got whacked. Couldn't see it retracing where it did and was wrong, Not looking for re-entry but a little gun shy
  • #135,917
  • Jun 8, 2009 5:40am Jun 8, 2009 5:40am
Quoting 4cfx
How do you decide when it's showing sufficient weakness? Eg, I think 5930 is showing strong resistance and am tempted to short here. But there's also strong support at 5909 so I'm thinking wait. Also, trend is bullish on the shorter tfs (all 15m, 30m and 1h).
i couldn't figure out why 5909 was a strong support, can you explain?
  • #135,918
  • Jun 8, 2009 5:41am Jun 8, 2009 5:41am
Quoting currencyexch
went short @ 1.5896 for sure thinking it was gogin south with tight backstop (20 pips) and got whacked. Couldn't see it retracing where it did and was wrong, Not looking for re-entry but a little gun shy
Like I said, you sold too low, at a support level & right at a consolidation area. This was posted earlier : http://www.forexfactory.com/showpost...stcount=135875

You could do some comparison with the charts I've attached at post #135920 against the levels that you have and see if it could help you into positioning yourself for another trade.

Good luck.
Thank You
  • #135,919
  • Jun 8, 2009 5:43am Jun 8, 2009 5:43am
Quoting 4cfx
How do you decide when it's showing sufficient weakness? ..
Price action / candle formation my friend
Thank You
  • #135,920
  • Jun 8, 2009 5:43am Jun 8, 2009 5:43am
Quoting Endrju
i couldn't figure out why 5909 was a strong support, can you explain?
It's today's first support. Maybe it's not the strongest but it's supporting right now and earlier on it was resisting.
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