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Cable Update (GBPUSD)

  • #154,681
  • Aug 3, 2009 8:38pm Aug 3, 2009 8:38pm
Quoting urutu
my guts says to short, but the charts seems like long. in my short stint as a trader, have never seen this pair this quiet. move on dude. need to make a living here.
To be safe..better wait after 2PM.. thats the real move will happen
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #154,682
  • Aug 3, 2009 8:39pm Aug 3, 2009 8:39pm
yngwei,
what your call? will it dip first, or shoot straight up?
  • #154,683
  • Aug 3, 2009 8:40pm Aug 3, 2009 8:40pm
Quoting urutu
my guts says to short, but the charts seems like long. in my short stint as a trader, have never seen this pair this quiet. move on dude. need to make a living here.
Do something else...like playing scrabble.
Great Bodies are Engineered not Born
  • #154,684
  • Aug 3, 2009 8:46pm Aug 3, 2009 8:46pm
Quoting RichLadyFX
Do something else...like playing scrabble.
if it pays the bills my lady, i'll play it like crazy every moment all the time. anyway....long time no see. a rose among the bees is easily missed.
  • #154,685
  • Aug 3, 2009 8:47pm Aug 3, 2009 8:47pm
I just closed my long for 26 pips, wanted to hold it, but I think it will retrace more before it goes back up.

Some people are calling for a short due to the straight up nature of PA over the last three days.

Sometime though the train doesn't stop.
  • #154,686
  • Aug 3, 2009 8:49pm Aug 3, 2009 8:49pm
There is some good divergence on 1hr though, so who knows?
  • #154,687
  • Aug 3, 2009 8:52pm Aug 3, 2009 8:52pm
Quoting RichLadyFX
Do something else...like playing scrabble.
jom main congkak.. LoL
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #154,688
  • Aug 3, 2009 8:52pm Aug 3, 2009 8:52pm
$hr looks bearish too....
  • #154,689
  • Aug 3, 2009 8:52pm Aug 3, 2009 8:52pm
4hr
  • #154,690
  • Aug 3, 2009 9:11pm Aug 3, 2009 9:11pm
In reality 2 hour and up very overbought., does this mean it is going to hit 1.7000 and drop who knows. I doubt it. I bet she reaches 1.7090 / 1.7200 as an upthrust kind of move before she retraces.

a simple 14 wma (red line) shows the trend for now , above that is buy dips

Attached Image (click to enlarge)
Click to Enlarge Name: chart149.png Size: 168 KB
Blogging daily now at www.volume.zone
  • #154,691
  • Aug 3, 2009 9:42pm Aug 3, 2009 9:42pm
Quoting urutu
yngwei,
what your call? will it dip first, or shoot straight up?
Play safe today. Read my previous post http://www.forexfactory.com/showpost...stcount=154665
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #154,692
  • Aug 3, 2009 9:44pm Aug 3, 2009 9:44pm
Quoting supremeChaos
Thanks,
yes, i believe indicating "atm" was critical.
gbp$ has been in the roughly (tighter) 1.62 - 1.66 range since around June2. made a false upside breakout on June30, then broke the range on the downside last July6/7, then went back inside the range & currently staying there. yesterday price made another stab at 1.66 but failed.
obviously, currently $ is weak ($ index chart-wise) & gbp is not strong either.
Quote
i believe we may have a similar scenario just like that on the previous 6-8month $/cad range: breakout looming. up or down & when is the market's decision.
but my bias is bearish gbp$.
if gbp$ can't breach 1.6750 - 1.68 convincingly this month or early next month, then we are really in bear-landia soon. sub-1.60 is calling simply imho, btw.

Greetings....

wow, i'm slowly getting it. anyway, i think this was a no-brainer.
this was my post on July24.
let's see if this upside breakout has legs to push up further.
  • #154,693
  • Aug 3, 2009 9:47pm Aug 3, 2009 9:47pm
malcolmb14,
i noticed your charts lately were more crisp & clear. what did u do?
As always, loving your insights & charts, Sir. God bless & keep it up
Malcolmb's 10,000 post milestone is looming.
  • #154,694
  • Aug 3, 2009 9:52pm Aug 3, 2009 9:52pm
Morning All,

O/N, TP limits on my long positions built up from low 1.67s from early monday morning were filled successively on the approach of 1.7000...
Attached Image
Hear the music before the song is over ...
  • #154,695
  • Aug 3, 2009 10:32pm Aug 3, 2009 10:32pm
bearish till 1.6715 before going up again to test level 1,7000 and 1,7285....
welcome back gu to 2,0000 ^_^
  • #154,696
  • Aug 3, 2009 10:55pm Aug 3, 2009 10:55pm
Quoting Yngwie
morning guys

If price break 1.7002 it should go up to 1.7075.. if break 1.6858 i consider we going down and it may down to 1.6786

happy trading!
More bias to bullish. Safe TP 1.7050/75. Consider bearish if price down to 6858/50. Price will fly so high if reach 1.71XX.
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #154,697
  • Edited 11:18pm Aug 3, 2009 11:05pm | Edited 11:18pm
Quoting RichLadyFX

The problem is, i seldom follow my plan.
write your rules out..and stick them somewhere where u can see them and when u get to the stage where u want to do your own thing..make a rule that u have to read your rules..u will soon stop after this doing your own think..cause u will be sick of reading your rules
  • #154,698
  • Aug 3, 2009 11:09pm Aug 3, 2009 11:09pm
Range Forecast
1.6817-1.7100
Buy at 1.6930 limit at 1.7000 stop at 1.6880
Resistance/Support

R:1.7000/1.7418/1.7500
1.6818/1.6740/1.6680
  • #154,699
  • Aug 3, 2009 11:10pm Aug 3, 2009 11:10pm
Good MAE Everyone...
Ghost Rider - WWTBMD?
  • #154,700
  • Aug 3, 2009 11:12pm Aug 3, 2009 11:12pm
Quoting sinyo79
bearish till 1.6715 before going up again to test level 1,7000 and 1,7285....
welcome back gu to 2,0000 ^_^
Irrational exuberance!
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