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Cable Update (GBPUSD)

  • #152,221
  • Jul 29, 2009 2:07am Jul 29, 2009 2:07am
Is it good time to go long or should I wait more to go down then go long? Any suggestions?
  • #152,222
  • Jul 29, 2009 2:16am Jul 29, 2009 2:16am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
I would wait until it retraces to 642xxx to enter short again.
It's a very strong downtrend. Going long is not a good idea IMO.


ams


Quoting UncleSam123
Is it good time to go long or should I wait more to go down then go long? Any suggestions?
  • #152,223
  • Jul 29, 2009 2:18am Jul 29, 2009 2:18am
Quoting ams
I would wait until it retraces to 642xxx to enter short again.
It's a very strong downtrend. Going long is not a good idea IMO.


ams
Me too !!
  • #152,224
  • Jul 29, 2009 2:19am Jul 29, 2009 2:19am
Quoting grashid
anybody still not believe ?..I believe it


http://www.forexfactory.com/showpost...stcount=151997
  • #152,225
  • Jul 29, 2009 2:22am Jul 29, 2009 2:22am
Quoting roreki
Opened a short @1.6460 SL 1.6550 TP 1.6350
Target moved to 1.6300
  • #152,226
  • Jul 29, 2009 2:27am Jul 29, 2009 2:27am
Quoting Hasnaa
EUR/USD
Buy at 1.4160 limit at 1.4230 stop at 1.4110
Resistance/Support
1.4198/1.4261/1.4300/1.4340
1.4139/1.4118/1.4030/1.3980

[b][i][FONT=Times New...
will be good if you can stop this and post ur chart as usual....as this is not signal service...else u may open ur own treat and make this post how many u want...A bit dangerous i saw if newbie blindly follow...Pls do not take it personal...cheer
  • #152,227
  • Jul 29, 2009 2:29am Jul 29, 2009 2:29am
TKS.

Your S/L moved too ?
  • #152,228
  • Jul 29, 2009 2:32am Jul 29, 2009 2:32am
Quoting ams
I would wait until it retraces to 642xxx to enter short again.
It's a very strong downtrend. Going long is not a good idea IMO.


ams
Hi ams,

Do you think it will get that high? I was looking for about 6400 but have my doubts about it atm.
Ghost Rider - WWTBMD?
  • #152,229
  • Jul 29, 2009 2:35am Jul 29, 2009 2:35am
Quoting grashid
anybody still not believe ?..I believe it
Trading is Believing!
Rock on, bro...
Hear the music before the song is over ...
  • #152,230
  • Jul 29, 2009 2:39am Jul 29, 2009 2:39am
Check the EURUSD guys.

A quick comparison of last few 30M bars tells something about GBP weakness.
  • #152,231
  • Jul 29, 2009 2:40am Jul 29, 2009 2:40am
Quoting GlobalMacro
Trading is Believing!
Rock on, bro...
Then I watch 1.63 for 1.6250 next before 6180/6080...As mentioned 1.6350 is my observation area....anough for GU atm and will be back in 5 hrs...Good luck to you..
  • #152,232
  • Jul 29, 2009 2:43am Jul 29, 2009 2:43am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Hi Chris,

Market is acting crazy as usual, this is an impact due to china HS index ( Chinese stocks sank more than 5 percent on worries banks may begin to restrict lending).
They needed some news to justify this action, lol :-)

I might take a chance on 64150, safe bet is 64200 or 64500 probably. IMO it must be that big boys are hunting for SL or inviting new boys to go short ( I used to do that when I was ametuer) . If you observe carefully price is stalling and not going below 63500, it's trying hard. If it tries to cross 63500 again then there is a strong chance to reach 62800 2nd supp not very far. There is a big gap today between PPZ 1st supp, 100 pips. On the contrary, EU is not that weak. So something is fishy here.


ams



Quoting albchr
Hi ams,

Do you think it will get that high? I was looking for about 6400 but have my doubts about it atm.
  • #152,233
  • Jul 29, 2009 2:47am Jul 29, 2009 2:47am
Quoting ams
Hi Chris,

Market is acting crazy as usual, this is an impact due to china HS index ( Chinese stocks sank more than 5 percent on worries banks may begin to restrict lending).
They needed some news to justify this action, lol :-)

I might take a chance on 64150, safe bet is 64200 or 64500 probably. IMO it must be that big boys are hunting for SL or inviting new boys to go short ( I used to do that when I was ametuer) . If you observe carefully price is stalling and not going below 63500, it's trying hard. If it tries to cross 63500 again then there...
Thanks....
Ghost Rider - WWTBMD?
  • #152,234
  • Jul 29, 2009 2:54am Jul 29, 2009 2:54am
Quoting ams
Hi Chris,

Market is acting crazy as usual, this is an impact due to china HS index ( Chinese stocks sank more than 5 percent on worries banks may begin to restrict lending).
They needed some news to justify this action, lol :-)

I might take a chance on 64150, safe bet is 64200 or 64500 probably. IMO it must be that big boys are hunting for SL or inviting new boys to go short ( I used to do that when I was ametuer) . If you observe carefully price is stalling and not going below 63500, it's trying hard. If it tries to cross 63500 again then there...
right on the money! they're trying to scare the hell out of people to sell here...remember they got a 1.6500 option rolling off today or 2moro so they're keeping it as far away as they can..
Hear the music before the song is over ...
  • #152,235
  • Jul 29, 2009 3:10am Jul 29, 2009 3:10am
i think that gbp needs new news to move lower, and news in 20 min could do the trick, i think they won't be good news for gbp, so it will get a reason to go thru 6350
  • #152,236
  • Jul 29, 2009 3:18am Jul 29, 2009 3:18am
Quoting Endrju
i think that gbp needs new news to move lower, and news in 20 min could do the trick, i think they won't be good news for gbp, so it will get a reason to go thru 6350
I think news is a bullsh!t , nothing more
  • #152,237
  • Jul 29, 2009 3:25am Jul 29, 2009 3:25am
Quoting GlobalMacro
right on the money! they're trying to scare the hell out of people to sell here...remember they got a 1.6500 option rolling off today or 2moro so they're keeping it as far away as they can..

http://www.forexfactory.com/showpost...stcount=151926

  • #152,238
  • Jul 29, 2009 3:34am Jul 29, 2009 3:34am
Quoting Bull_Bear
Morning Guys, Looks like Cable is setting for a big crash.... Keep an eye on thos two trend lines..... if the both break min of 1.6220 as a target....

I got her going south since 1.6480.... SL 1.6570... TP 1.6220

See you guys at the London / US session
I'll be having a beer or 2 if it hits my target

Right now she's sitting right on trend support, break that or 4H closes below that 1.6220 well in the making.
Attached Image (click to enlarge)
Click to Enlarge Name: untitled.JPG Size: 105 KB
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #152,239
  • Jul 29, 2009 3:34am Jul 29, 2009 3:34am
Quoting direct-trade
http://www.forexfactory.com/showpost...stcount=151926

I'm always amazed at how you guys can see this so clearly....
Ghost Rider - WWTBMD?
  • #152,240
  • Jul 29, 2009 3:37am Jul 29, 2009 3:37am
Yesterday's post with chart:

http://www.forexfactory.com/showpost...stcount=151902

First chart is from that post.

Second chart:

Played out as planned so far.

As mentioned yesterday, waiting for 4hr close below 16380. We are at this level now with 1st 4hr cnadle trying to close below (16377)....

Failure to close below see's this move as a Stop hunt as also mentioned and a move back to/above yesterday's high shaking loose all shorts.

Just my opinion.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd 27-07-11.gif Size: 23 KB
Click to Enlarge Name: gbpusd 28-07-2.gif Size: 24 KB
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