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Cable Update (GBPUSD)

  • #137,361
  • Jun 15, 2009 10:46pm Jun 15, 2009 10:46pm
I'm looking at 1.6339 as my 1st price objective.
Attached Image
Hear the music before the song is over ...
  • #137,362
  • Jun 15, 2009 11:12pm Jun 15, 2009 11:12pm
went short @ 6315, i think 6320/30 is too strong resistance and there were new lows, so gbp shouldn't be that strong, but continue down sl 6335
  • #137,363
  • Jun 15, 2009 11:14pm Jun 15, 2009 11:14pm
Quoting welshguy2000
NICE!! where did you find that out?
GFT & VT
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  • #137,364
  • Jun 15, 2009 11:21pm Jun 15, 2009 11:21pm
Quoting jgnorton
GFT & VT
also, this was out a few hours ago.... but frankfurt just started trading euro futures about 20 mins ago.... things always get volatile then, and again at the london open, an hour later (40 mins from now)
  • #137,365
  • Jun 15, 2009 11:22pm Jun 15, 2009 11:22pm
I'll make a pending order for long at 1.6335. In addition of scalping
Great Bodies are Engineered not Born
  • #137,366
  • Jun 15, 2009 11:25pm Jun 15, 2009 11:25pm
how you'll trade the CPI news?
Buy GBP if equal or greater then 2.0%
Sell Gdp if equal or less then 2.0%

Any suggestions?
No risk, No Glory.
  • #137,367
  • Jun 15, 2009 11:28pm Jun 15, 2009 11:28pm
Careful going long.

Good luck


Earlier chart :http://www.forexfactory.com/attachme...5&d=1245060297
Attached Image (click to enlarge)
Click to Enlarge Name: gu1a.JPG Size: 60 KB
Thank You
  • #137,368
  • Jun 15, 2009 11:32pm Jun 15, 2009 11:32pm
Quoting wormboy
Careful going long.

Good luck


Earlier chart :http://www.forexfactory.com/attachme...5&d=1245060297
Tenkiu, terima kasih. Thank You.
Great Bodies are Engineered not Born
  • #137,369
  • Jun 15, 2009 11:33pm Jun 15, 2009 11:33pm
Quoting Endrju
went short @ 6315, i think 6320/30 is too strong resistance and there were new lows, so gbp shouldn't be that strong, but continue down sl 6335
closed at -11 pips, as eur/usd went over 3850, just waiting for better entry, either at 6370 or 6425
  • #137,370
  • Jun 15, 2009 11:36pm Jun 15, 2009 11:36pm
Quoting RichLadyFX
Tenkiu, terima kasih. Thank You.
de nada.
Thank You
  • #137,371
  • Jun 15, 2009 11:37pm Jun 15, 2009 11:37pm
Quoting jorryo
how you'll trade the CPI news?
Buy GBP if equal or greater then 2.0%
Sell Gdp if equal or less then 2.0%

Any suggestions?
trading news is tricky and requires TEENAGER VIRGIN TIGHT stop losses if you do ANYTHING prior (and may as well say immediately after)....

Wait for confirmation is best strategy
  • #137,372
  • Jun 15, 2009 11:39pm Jun 15, 2009 11:39pm
wormboy, i agree with you!

M3 is also at 348!

and its an m1/m3 day!
  • #137,373
  • Jun 15, 2009 11:39pm Jun 15, 2009 11:39pm
Quoting Endrju
closed at -11 pips, as eur/usd went over 3850, just waiting for better entry, either at 6370 or 6425

More commentary off GAIN capital site: " cable takes some stops out above 1/6330 but sees very little follow through so far. We favor selling rallies into 1/6420"
  • #137,374
  • Jun 15, 2009 11:41pm Jun 15, 2009 11:41pm
Quoting smartalicus
trading news is tricky and requires TEENAGER VIRGIN TIGHT stop losses if you do ANYTHING prior (and may as well say immediately after)....

Wait for confirmation is best strategy
Agreed. To assume the mm's next move prior to the data releases is a very foolish thing to do.
Thank You
  • #137,375
  • Jun 15, 2009 11:41pm Jun 15, 2009 11:41pm
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 17 KB
  • #137,376
  • Jun 15, 2009 11:42pm Jun 15, 2009 11:42pm
Quoting wormboy
Careful going long.

Good luck


Earlier chart :http://www.forexfactory.com/attachme...5&d=1245060297
Morning wormboy, nice cable overnight . I closed my short at 6250 last night, a little too early. I think it may go up for a little breather before going south again. Lots of GBP data this morning, all expected to be bad.

I'll short on retrace. However, prices have been supported by the lower trend line of the up from 1.44.

Do you think it may retrace to 6410, 50% fib?
  • #137,377
  • Jun 15, 2009 11:43pm Jun 15, 2009 11:43pm
Quoting alex1976
wormboy, i agree with you!

M3 is also at 348!

and its an m1/m3 day!
Nice one mate.
Tho I must admit I have no idea what the m1 or m3 is

Good luck to you.
Thank You
  • #137,378
  • Jun 15, 2009 11:45pm Jun 15, 2009 11:45pm
Quoting forexlion
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 17 KB
  • #137,379
  • Jun 15, 2009 11:47pm Jun 15, 2009 11:47pm
Quoting 4cfx
Morning wormboy, nice cable overnight . I closed my short at 6250 last night, a little too early. I think it may go up for a little breather before going south again. Lots of GBP data this morning, all expected to be bad.

I'll short on retrace. However, prices have been supported by the lower trend line of the up from 1.44.

Do you think it may retrace to 6410, 50% fib?
Afternoon mate
But in regards to the statement which is in bold - expect nothing my friend. Just trade the charts and follow the money. Expecting data release's outcome will do nothing except cloud your judgement. At least that's my humble opinion.

Btw, can't comment on the 50% fib. You'd want to refer to forexlion, he's the fibonacci retracement king.
Thank You
  • #137,380
  • Jun 15, 2009 11:48pm Jun 15, 2009 11:48pm
Quoting forexlion
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 17 KB
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