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Cable Update (GBPUSD)

  • #137,361
  • Jun 16, 2009 12:46am Jun 16, 2009 12:46am
I'm looking at 1.6339 as my 1st price objective.
Attached Image
Hear the music before the song is over ...
  • #137,362
  • Jun 16, 2009 1:12am Jun 16, 2009 1:12am
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 16, 2009 1:14am Jun 16, 2009 1:14am
Quoting welshguy2000
NICE!! where did you find that out?
GFT & VT
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  • #137,364
  • Jun 16, 2009 1:21am Jun 16, 2009 1:21am
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 16, 2009 1:22am Jun 16, 2009 1:22am
I'll make a pending order for long at 1.6335. In addition of scalping
Great Bodies are Engineered not Born
  • #137,366
  • Jun 16, 2009 1:25am Jun 16, 2009 1:25am
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 16, 2009 1:28am Jun 16, 2009 1:28am
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 16, 2009 1:32am Jun 16, 2009 1:32am
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 16, 2009 1:33am Jun 16, 2009 1:33am
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 16, 2009 1:36am Jun 16, 2009 1:36am
Quoting RichLadyFX
Tenkiu, terima kasih. Thank You.
de nada.
Thank You
  • #137,371
  • Jun 16, 2009 1:37am Jun 16, 2009 1:37am
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 16, 2009 1:39am Jun 16, 2009 1:39am
wormboy, i agree with you!

M3 is also at 348!

and its an m1/m3 day!
  • #137,373
  • Jun 16, 2009 1:39am Jun 16, 2009 1:39am
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 16, 2009 1:41am Jun 16, 2009 1:41am
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 16, 2009 1:41am Jun 16, 2009 1:41am
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 17 KB
  • #137,376
  • Jun 16, 2009 1:42am Jun 16, 2009 1:42am
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 16, 2009 1:43am Jun 16, 2009 1:43am
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 16, 2009 1:45am Jun 16, 2009 1:45am
Quoting forexlion
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 17 KB
  • #137,379
  • Jun 16, 2009 1:47am Jun 16, 2009 1:47am
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 16, 2009 1:48am Jun 16, 2009 1:48am
Quoting forexlion
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 17 KB
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