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Cable Update (GBPUSD)

  • #172,661
  • Oct 2, 2009 1:27pm Oct 2, 2009 1:27pm
Quoting Alpha Hamste
Or how many SL were swiped? nAV is right...very dodgy at the moment.
yes.. an IDEAL position for LONG bullies..

when 95% are short
  • #172,662
  • Oct 2, 2009 1:27pm Oct 2, 2009 1:27pm
Quoting Piters
bro.. we know they were bluffing.. with the HUGE bid on the table.. but im having a question.

Can we realize How much they made today on this rally?? when 90% are Short ??

Im scared to predict.. or imagine..
yes thats a very good point..im thinking based on the dailly being the way it is, its probably gonna go up a bit, might even test the neckline again...for sure i will be looking to scale in the short..yep they planned this alright.. made big time

i just cant see it breaking the bottom with a dailly candle like that, weekly very small body as well.....will be interesting to see how this closes today..aint looking good is it
Thank god we got in a descent level
  • #172,663
  • Oct 2, 2009 1:31pm Oct 2, 2009 1:31pm
Quoting Piters
cool.. my panic Button starts above the DPP.. on Both.. Gy & GU
Daily Pin then spinning top, then daily pin... people don't know what they are doing, and the money are doing their thing!
Probability Professor
  • #172,664
  • Oct 2, 2009 1:31pm Oct 2, 2009 1:31pm
If GBP/USD will close above 1.5920 or will close by hitting new highs then next week would be an interesting one first hurdle 1.6120 then catch him if you can long positions are good to hold but shorts are disguising at the moment all you want to see is the bigger picture.
  • #172,665
  • Oct 2, 2009 1:33pm Oct 2, 2009 1:33pm
Still short @ 5879 and 5925. Nerve wracking ain't it?.....
Ghost Rider - WWTBMD?
  • #172,666
  • Oct 2, 2009 1:34pm Oct 2, 2009 1:34pm
Quoting nAVIN2007
yes thats a very good point..im thinking based on the dailly being the way it is, its probably gonna go up a bit, might even test the neckline again...for sure i will be looking to scale in the short..yep they planned this alright.. made big time

i just cant see it breaking the bottom with a dailly candle like that, weekly very small body as well.....will be interesting to see how this closes today..aint looking good is it
Thank god we got in a descent level
Too right! I got in at a good level as well so I'm willing to let it run to the end of the way.

The G7 meetings are tomorrow, and they always talk about currency. I think things that are said in this meeting will probably overrule and pin bar confusions and drive the market in the direction of which the talks suggest.

Risk aversion: Stronger dollar.
Probability Professor
  • #172,667
  • Oct 2, 2009 1:35pm Oct 2, 2009 1:35pm
Quoting nAVIN2007
yes thats a very good point..im thinking based on the dailly being the way it is, its probably gonna go up a bit, might even test the neckline again...for sure i will be looking to scale in the short..yep they planned this alright.. made big time

i just cant see it breaking the bottom with a dailly candle like that, weekly very small body as well.....will be interesting to see how this closes today..aint looking good is it
Thank god we got in a descent level
that is my question too. it is obvious that they sold their Long positions in this rally.. (damping Long positions)..

yes, I agree, will be interesting to see how far they are going to run it. and how we close the day/week.. 4:30am.. and still awake.. FRESH.. and motivated..
  • #172,668
  • Oct 2, 2009 1:35pm Oct 2, 2009 1:35pm
Quoting albchr
Still short @ 5879 and 5925. Nerve wracking ain't it?.....
Price would have also retraced at the speed it did with stop losses being hit and people pooing their pants and jumping out. Then again, who knows what bank or organizations pushed it, and for what reasons.
Probability Professor
  • #172,669
  • Oct 2, 2009 1:35pm Oct 2, 2009 1:35pm
aiiiit, here ya go
Attached Image
Hear the music before the song is over ...
  • #172,670
  • Oct 2, 2009 1:39pm Oct 2, 2009 1:39pm
Quoting Galation
Too right! I got in at a good level as well so I'm willing to let it run to the end of the way.

The G7 meetings are tomorrow, and they always talk about currency. I think things that are said in this meeting will probably overrule and pin bar confusions and drive the market in the direction of which the talks suggest.

Risk aversion: Stronger dollar.

im not happy about exiting completely but with a dailly like that i kinda had no choice..also with building the account every small bit counts..
Attached Image (click to enlarge)
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  • #172,671
  • Oct 2, 2009 1:41pm Oct 2, 2009 1:41pm
Quoting nAVIN2007
im not happy about exiting completely but with a dailly like that i kinda had no choice..also with bilding the account very small bit counts..
Definitely. We can't let our winners turn into crap . I wonder what the G7 have up their sleeve.
Probability Professor
  • #172,672
  • Oct 2, 2009 1:42pm Oct 2, 2009 1:42pm
Quoting Piters
yes.. an IDEAL position for LONG bullies..

when 95% are short
Exactly, look at the 1st outburst spike up at 5885 to 5945, 60 pips...that will probably wiped out many SL for the big accounts. Imagine if 10 Lots/ entry...sadist!!
  • #172,673
  • Oct 2, 2009 1:42pm Oct 2, 2009 1:42pm
Quoting albchr
Still short @ 5879 and 5925. Nerve wracking ain't it?.....
I'm also short here and still holding
  • #172,674
  • Oct 2, 2009 1:42pm Oct 2, 2009 1:42pm
Bank of Japan Governor Masaaki Shirakawa says that G7 is an easier forum to discuss Forex than G20

By Chris Wilkinson || October 2, 2009 at 18:37 GMT
|| 0 comments || Add comment
At the meeting this weekend in Istanbul the topic of the economic and financial conditions behind recent FX moves is likely to be discussed. Exit strategies for each country, he adds, would be different. Tankan also backs up the view of the Bank of Japan that the Japanese economy has turned and is starting to recover, says Dhirakawa.


http://www.forexlive.com/
Probability Professor
  • #172,675
  • Oct 2, 2009 1:43pm Oct 2, 2009 1:43pm
Quoting Galation
Price would have also retraced at the speed it did with stop losses being hit and people pooing their pants and jumping out. Then again, who knows what bank or organizations pushed it, and for what reasons.
All I know is this rise the past 2.5 hours has happened on low volume (comparatively speaking) so I wonder if it's just some profit taking for the weekend or as you say, stops being hit.

Also as you say, it's been such a slow climb. Just doesn't "feel" like a bunch of big buyers pushing this.

My only concern is, when my broker is closed, will my stops work if price hits them?....

Never held a trade over the weekend before.
Ghost Rider - WWTBMD?
  • #172,676
  • Oct 2, 2009 1:45pm Oct 2, 2009 1:45pm
With the G7, I would not be surprised if there was a decent sized gap when trading re-opens.
Probability Professor
  • #172,677
  • Oct 2, 2009 1:46pm Oct 2, 2009 1:46pm
Quoting nAVIN2007
im not happy about exiting completely but with a dailly like that i kinda had no choice..also with building the account every small bit counts..
Have you closed all your shorts Nav?
Ghost Rider - WWTBMD?
  • #172,678
  • Oct 2, 2009 1:46pm Oct 2, 2009 1:46pm
Quoting albchr
All I know is this rise the past 2.5 hours has happened on low volume (comparatively speaking) so I wonder if it's just some profit taking for the weekend or as you say, stops being hit.

Also as you say, it's been such a slow climb. Just doesn't "feel" like a bunch of big buyers pushing this.

My only concern is, when my broker is closed, will my stops work if price hits them?....

Never held a trade over the weekend before.
Just phone them, or if they have live chat, ask them on there.
Probability Professor
  • #172,679
  • Oct 2, 2009 1:47pm Oct 2, 2009 1:47pm
Hi Chris - i would think about holding it over the weekend as i know my broker doesn't guarantee stops over weekend etc. I was down -40pips the last and only time i held over weekend
Disclaimer: Check your 1m charts
  • #172,680
  • Oct 2, 2009 1:47pm Oct 2, 2009 1:47pm
Quoting Piters
that is my question too. it is obvious that they sold their Long positions in this rally.. (damping Long positions)..

yes, I agree, will be interesting to see how far they are going to run it. and how we close the day/week.. 4:30am.. and still awake.. FRESH.. and motivated..

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