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Cable Update (GBPUSD)

  • #138,121
  • Jun 18, 2009 10:36am Jun 18, 2009 10:36am
Quoting forexlion
wait for 44 minutes or next 4 hour candle on ibfx server

gu will be more than pleased to chomp your sl right now

Forexlion, would the 1h candle close be best to wait for, to see if she is short?
  • #138,122
  • Jun 18, 2009 10:38am Jun 18, 2009 10:38am
i think she has some to go yet!
  • #138,123
  • Jun 18, 2009 10:42am Jun 18, 2009 10:42am
The low from overnight is lower than the previous low .. so the 6200 area is wekening

This may get as high as 6400 .. above and we may get another false TL break. Who knows.

I would love to see a downside breakout. This thing will move hard.
  • #138,124
  • Jun 18, 2009 10:47am Jun 18, 2009 10:47am
Quoting jack.canadia
The low from overnight is lower than the previous low .. so the 6200 area is wekening

This may get as high as 6400 .. above and we may get another false TL break. Who knows.

I would love to see a downside breakout. This thing will move hard.
Yes and the DOW is up 51 points, so if that slackens off it could help pull the plug


Come on 1.62
  • #138,125
  • Jun 18, 2009 10:48am Jun 18, 2009 10:48am
Jack, I sold after the huge hammer last night after 3am, and limited at 40 pips, based on the candle should i have gone for the full 200?
  • #138,126
  • Jun 18, 2009 10:48am Jun 18, 2009 10:48am
Quoting forexlion
wait for 44 minutes or next 4 hour candle on ibfx server

gu will be more than pleased to chomp your sl right now
maybe she chomped you? lions are tastier .. she saw my SL and turned away
  • #138,127
  • Jun 18, 2009 10:59am Jun 18, 2009 10:59am
Quoting jack.canadia
maybe she chomped you? lions are tastier .. she saw my SL and turned away

Hey Jack did you watch the video i sent you last time. If not then here it is. As a canadian you will laugh your head off mate.

Inserted Video
You've got to be IN IT to WIN IT!
  • #138,128
  • Jun 18, 2009 11:06am Jun 18, 2009 11:06am
Quoting Ifty
Hey Jack did you watch the video i sent you last time. If not then here it is. As a canadian you will laugh your head off mate.

http://www.youtube.com/watch?v=CTxkxG3DF4k
ya i just watched it again haha .. its hilarious!
  • #138,129
  • Jun 18, 2009 11:06am Jun 18, 2009 11:06am
The chomping GU is coming to to eat SLs
Great Bodies are Engineered not Born
  • #138,130
  • Jun 18, 2009 11:06am Jun 18, 2009 11:06am
BTW your welcome mate . Anyway back to GU. How come cable went up when the employment news in the US was on target. I thought this would make a stronger dollar. Maybe i am missing something.
You've got to be IN IT to WIN IT!
  • #138,131
  • Jun 18, 2009 11:09am Jun 18, 2009 11:09am
Quoting Ifty
BTW your welcome mate . Anyway back to GU. How come cable went up when the employment news in the US was on target. I thought this would make a stronger dollar. Maybe i am missing something.
there was more demand than supply at 6200, so price had to go up from there...

news has an effect, it causes it to move but the direction is not correlated
  • #138,132
  • Jun 18, 2009 11:09am Jun 18, 2009 11:09am
sentiment is the driver of the currency market
  • #138,133
  • Jun 18, 2009 11:09am Jun 18, 2009 11:09am
1.6376 - 1.6388 is a hard resistance zone if gbp is going to break it there will be a jump
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  • #138,134
  • Jun 18, 2009 11:10am Jun 18, 2009 11:10am
took a long @ 6376 for 6417 and no sl
  • #138,135
  • Jun 18, 2009 11:10am Jun 18, 2009 11:10am
Quoting LuckyRoost
My Chart 4hr has 1.6468 as possible-- but tends to overshoot... I closed 2/3 of my postion at 1.6330 moved my Sl to 1.6270 on remaining 1/3 position. my remaining TP is between 1.6413 & 1.6468. (whenever E/U stops rising or U/C stops falling). And I plan on shorting the next top.

I'm just bummed I closed my g/j long and cad/usd short too soon....
6468 is also a possibility on my chart. Above 65 would most likely negate my count.

I've moved my original target of 6380 to 64 as price action is strong. My wavecount also suggests that there's a bit more room on the upside.

I'm out for a few hours now. Happy trading and good luck.
  • #138,136
  • Jun 18, 2009 11:14am Jun 18, 2009 11:14am
Quoting Ifty
BTW your welcome mate . Anyway back to GU. How come cable went up when the employment news in the US was on target. I thought this would make a stronger dollar. Maybe i am missing something.
UK guys never cook the news they eat raw
US guys cook their news and hence the distorted movements
  • #138,137
  • Jun 18, 2009 11:19am Jun 18, 2009 11:19am
Quoting forexlion
took a long @ 6376 for 6417 and no sl
Another long @6363. Wish us luck!
Great Bodies are Engineered not Born
  • #138,138
  • Jun 18, 2009 11:22am Jun 18, 2009 11:22am
Quoting Ifty
BTW your welcome mate . Anyway back to GU. How come cable went up when the employment news in the US was on target. I thought this would make a stronger dollar. Maybe i am missing something.
cable be doing the same thing all week, it hit the daily support then goes back up to daily pivot point or daily 1st resistance. so at 5pm you sell with t/p at 1st support then you buy at 1st support, t/p pivot point
  • #138,139
  • Jun 18, 2009 11:22am Jun 18, 2009 11:22am
more than 1.6424 is not expected uper TD of flag on H4 is valid and firm
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  • #138,140
  • Jun 18, 2009 11:23am Jun 18, 2009 11:23am
Quoting RichLadyFX
Another long @6363. Wish us fuck!
ok

a break below 6354 will force me to close my longs, this is my current support on the current 4 hour candle
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