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Cable Update (GBPUSD)

  • #161,121
  • Aug 27, 2009 1:12am Aug 27, 2009 1:12am
Shes got a long way to go to get to 6.465 though...around 250 pips...so you think that she has enough in her to get up there? Are you talking long term or short, I use the 5 min TF so may be looking at a bigger picture than I.

Many thanks!
  • #161,122
  • Aug 27, 2009 1:15am Aug 27, 2009 1:15am
Quoting Pyramus
The bus is leaving now
i believe its heading south
but i am not comfortable to enter at the moment.....
  • #161,123
  • Aug 27, 2009 1:16am Aug 27, 2009 1:16am
oh i mean 1.6265 actually
Quoting antic81
Shes got a long way to go to get to 6.465 though...around 250 pips...so you think that she has enough in her to get up there? Are you talking long term or short, I use the 5 min TF so may be looking at a bigger picture than I.

Many thanks!
  • #161,124
  • Aug 27, 2009 1:19am Aug 27, 2009 1:19am
Short 1.6208 TP 1.6168 SL 1.6248
It's amazing how lucky you are when you make good decisions.
  • #161,125
  • Aug 27, 2009 1:22am Aug 27, 2009 1:22am
Ah no problem!
What Time Frame are you looking at?

I cant really see anything on the 5 or 15 that gives me anything around that figure, WHat made you think 265...if you dont mind me asking?

Just want to see if I have missed something obvious...which I tend to do from time to time!

Many thanks!
  • #161,126
  • Aug 27, 2009 1:24am Aug 27, 2009 1:24am
Chart posted yesterday :
http://www.forexfactory.com/showpost...stcount=160782

We're still selling with 6165 as the near term target & 5950 should price close below 6165.

Good luck
Attached Image (click to enlarge)
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Thank You
  • #161,127
  • Aug 27, 2009 1:30am Aug 27, 2009 1:30am
1.6270 is the 0.236 retracement from 1.6624 to 1.6160 and also the broken neckline of the head & shoulder pattern.
i expect a lot of sellers there and therefore may not be reached easily so i add 5 pips to that level, i.e. 1.6265
you can see the H&S pattern in higher timeframes like H4/D1, but i usually trade with the H4 timeframe.
hope that helps.
Quoting antic81
Ah no problem!
What Time Frame are you looking at?

I cant really see anything on the 5 or 15 that gives me anything around that figure, WHat made you think 265...if you dont mind me asking?

Just want to see if I have missed something obvious...which I tend to do from time to time!

Many thanks!
  • #161,128
  • Aug 27, 2009 1:34am Aug 27, 2009 1:34am
wow tlhis is why i love this place, nice people who help the lost that did not even ask, still learning that helped thank you
  • #161,129
  • Aug 27, 2009 1:43am Aug 27, 2009 1:43am
hi, i am new trader. Please help me. . . . .
  • #161,130
  • Aug 27, 2009 1:44am Aug 27, 2009 1:44am
Morning people...
G/L to everyone
  • #161,131
  • Aug 27, 2009 1:50am Aug 27, 2009 1:50am
Thanks for that, I had a look and a rethink and see what you mean, so will join you in waiting for that level!

Because I trade the lower time frame (with a lower target of pips) sometimes if I look at the higher times I suffer a bit from Paralysis By Analysis!

Thanks for the input!

Ant
  • #161,132
  • Aug 27, 2009 1:52am Aug 27, 2009 1:52am
lol i lost my patience as i see the cable under pressure after the good news and also the yen keeps going high
appears to me the US equity and also the cable will tank soon
short @1.6220, and will add one more entry @1.6265
  • #161,133
  • Aug 27, 2009 1:54am Aug 27, 2009 1:54am
JUst had a closer look at the news, seems to be a busy news day today for cable...that may mess with my plans of world domination!
  • #161,134
  • Aug 27, 2009 1:54am Aug 27, 2009 1:54am
I am new trader, i am looking for help to trade in GBP......
Quoting wormboy
Chart posted yesterday :
http://www.forexfactory.com/showpost...stcount=160782

We're still selling with 6165 as the near term target & 5950 should price close below 6165.

Good luck
  • #161,135
  • Aug 27, 2009 1:58am Aug 27, 2009 1:58am
I may be having a good look at 6200 as that will be breaking the previous short term low on my 5 min, I carry a fairly tite stop of 20 pips (for MM reasons) so cant really afford a whipsaw...
  • #161,136
  • Aug 27, 2009 2:00am Aug 27, 2009 2:00am
gbp/usd going down to 1.6150 and then it might go up to 1.6250
  • #161,137
  • Aug 27, 2009 2:01am Aug 27, 2009 2:01am
sales in UK and of coz the US GDP news will probably move the cable significantly
has anyone noticed the gbp is now close to its day-low while other currencies are now close to the day-highs?

Quoting antic81
JUst had a closer look at the news, seems to be a busy news day today for cable...that may mess with my plans of world domination!
  • #161,138
  • Aug 27, 2009 2:02am Aug 27, 2009 2:02am
Engulfing Bear Candle just finished on the 1H always a good sign for the shorts
It's amazing how lucky you are when you make good decisions.
  • #161,139
  • Edited 2:21am Aug 27, 2009 2:06am | Edited 2:21am
Can u sugggest me either pound is selling side or buying side today
  • #161,140
  • Aug 27, 2009 2:12am Aug 27, 2009 2:12am
Man this week is going really badly...just got stopped out again...this is the worst week I have ever had on the markets, everything told me to go short...

I have gone from a 70 % plus strike rate down to 25% this week, its pretty soul destroying.
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