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Cable Update (GBPUSD)

  • #176,781
  • Oct 15, 2009 9:33am Oct 15, 2009 9:33am
Quoting BearPaw
Still short at 6231....

What is the opinion of some of you guys as to where it is going....knowing it is educated speculation...lol.

Anyway...Do you think it is going back down below 6100???

Thoughts anyone?

BP
I too went short too. I don't see why it would go up but the again, look at EURUSD!!
The Sky is the Limit!
  • #176,782
  • Oct 15, 2009 9:40am Oct 15, 2009 9:40am
Quoting GlobalMacro
yes, Paki, I'm still carrying my long position...I'm not seeing any reasons to exit them just yet....
hi gm

you still see gu moving up further today? i see it at least retesting 6100, will you hold your longs? where do you see this eventually? i see it testing 6450ish, i am short now for 6100, will think about reversing there for 6450, after that, clueless, will have to see how price reacts

cheers
  • #176,783
  • Oct 15, 2009 9:47am Oct 15, 2009 9:47am
Quoting BearPaw
Still short at 6231....

What is the opinion of some of you guys as to where it is going....knowing it is educated speculation...lol.

Anyway...Do you think it is going back down below 6100???

Thoughts anyone?

BP
My thoughts - it is resting, regrouping. The up move isn't complete yet.

I suspect a developing bull flag, but that is only a possibility. The reason for thinking this is that the high has only been touched once and so isn't convincing me of a more aggressive down.

I'm watching for a turning point back up again, that might or might not make a higher high.

Alison
  • #176,784
  • Oct 15, 2009 9:54am Oct 15, 2009 9:54am
took ashort at 6297 based on 1hr chart don't look great but nice reversal bar forming on 4hr chart
  • #176,785
  • Oct 15, 2009 9:55am Oct 15, 2009 9:55am
Quoting Alison
My thoughts - it is resting, regrouping. The up move isn't complete yet.

I suspect a developing bull flag, but that is only a possibility. The reason for thinking this is that the high has only been touched once and so isn't convincing me of a more aggressive down.

I'm watching for a turning point back up again, that might or might not make a higher high.

Alison
I tend to agree with you, also not sure if she will bust through 1.6300, but could very well get back up to that level!

Looks like we are already on the way!
  • #176,786
  • Oct 15, 2009 9:57am Oct 15, 2009 9:57am
lol...yeah...sterling moving up again....blasted pound!!

Thanks for all the input. Good to see peoples thoughts and analysis. Helps me to learn a bit.

BP
  • #176,787
  • Oct 15, 2009 10:01am Oct 15, 2009 10:01am
Quoting tomaz55
hi gm

you still see gu moving up further today? i see it at least retesting 6100, will you hold your longs? where do you see this eventually? i see it testing 6450ish, i am short now for 6100, will think about reversing there for 6450, after that, clueless, will have to see how price reacts

cheers
Hi Tomaz,

I'm still holding my longs....I don't see any let-up in buying pressure yet...
any drop would be a good low-risk buying opportunity
I'd stay away from shorts for the time being in these market conditions...

Trade Well!
Hear the music before the song is over ...
  • #176,788
  • Oct 15, 2009 10:02am Oct 15, 2009 10:02am
Be careful shorts.... Crude oil climbing, due to inventory numbers. Copper recovering earlier losses, equities starting to firm up. Dollar is back on the ropes, once again.
  • #176,789
  • Oct 15, 2009 10:05am Oct 15, 2009 10:05am
Quoting Fx1618
SL Moved > 1.6149

<send from mobile>
SL moved > 1.6163

SL Moved >
  • #176,790
  • Oct 15, 2009 10:14am Oct 15, 2009 10:14am
for those who still married with shorting GU...here is my view..

I do not see a good sign of short yet..unless 6400 area is touch...

Same chart as am posting yesterday Londan when i decided to close all my swing short and mentioning if yesterday close above 1.60....buy dip is my setting and now....it happen..

Attch is my view and still buyer in play..Good luck
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  • #176,791
  • Oct 15, 2009 10:17am Oct 15, 2009 10:17am
2 charts...

Daily --> bullish divergence off 5700 area and now a strong bounce + break of TL. still a large TL in the way

4-hour --> better view of break, I am long 1.6000 after the 4h close above the TL last night

as for direction, i am bearish below the larger TL based on GBP/USD price action and will look to short
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  • #176,792
  • Oct 15, 2009 10:18am Oct 15, 2009 10:18am
Quoting GlobalMacro
Hi Tomaz,

I'm still holding my longs....I don't see any let-up in buying pressure yet...
any drop would be a good low-risk buying opportunity
I'd stay away from shorts for the time being in these market conditions...

Trade Well!
..good job...am a bit late joining u yesterday @ 5925...mm
  • #176,793
  • Oct 15, 2009 10:25am Oct 15, 2009 10:25am
Quoting DubaiFX
after BOE minutes i am still bearish

im shorting again 16425
i know it may go against me maybe much more then i think
but i am bearish and 160XX is still there and next month maybe 15500
BOE minutes cant change the fact that economy is getting worse.
ppl will realise soon ...

happy pips to all..

as i metioned before Buys
dont be fooled of this move today un GU
becare full long GU may hit u hard..
wellc shorting from 16270 stop 16450
target 1.595to me this whole move was just a retrace in long term
i hope people will realize soon that gu should be at 1.58xx
fundamentaly
did u saw only gbp moved high every other pair agains usd si in range orloosing ground
it may be a fake to get more users
just my 1PIP
be carefull

talking about yen here is what i am trading bought at 90.30 stop 98.40
tRget 93.00

lets see if i am wrong or right??
Don't compare your Trades with Others
  • #176,794
  • Oct 15, 2009 10:31am Oct 15, 2009 10:31am
Quoting DubaiFX
as i metioned before Buys
dont be fooled of this move today un GU
becare full long GU may hit u hard..
wellc shorting from 16270 stop 16450
target 1.595to me this whole move was just a retrace in long term
i hope people will realize soon that gu should be at 1.58xx
fundamentaly
did u saw only gbp moved high every other pair agains usd si in range orloosing ground
it may be a fake to get more users
just my 1PIP
be carefull

talking about yen here is what i am trading bought at 90.30 stop 98.40
tRget 93.00

lets see if i am wrong or right??...
I can still long the bitch here for my target of 6347

but, since i never trade NY session, i will just sit on the fence and wait for europe session to start.
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  • #176,795
  • Oct 15, 2009 10:31am Oct 15, 2009 10:31am
Quoting grashid
..good job...am a bit late joining u yesterday @ 5925...mm
I dont know why u guys keep saying long but its better to give your opinion and post chart why you think market is bullish it a trap or a break out or a long term up trend

I hope u guys give your opinion why u think that and post some charts so that newbie can understand better.

THanks
  • #176,796
  • Oct 15, 2009 10:33am Oct 15, 2009 10:33am
Quoting SkyzerFX
Could you please tell me how to join your room.. At lest to just watch

your guys trading? Thank you.
do u have skype..if so pm me..
  • #176,797
  • Oct 15, 2009 10:34am Oct 15, 2009 10:34am
I appreciate your analysis Global Brother

But u need to tell why you were longing when everyone was short

U still long and what you think it is stop hunt or what

You telling we cannot see 5300 in this decade but you tell the reason why I will appreciate if you give us valuable information so that We can also gain some knowledge. thanks
  • #176,798
  • Oct 15, 2009 10:34am Oct 15, 2009 10:34am
Quoting pakitrader
I dont know why u guys keep saying long but its better to give your opinion and post chart why you think market is bullish it a trap or a break out or a long term up trend

I hope u guys give your opinion why u think that and post some charts so that newbie can understand better.

THanks
paki read post #543 of this thread
http://www.forexfactory.com/showthre...195377&page=37

u will understand better what is going on, and why we are long
  • #176,799
  • Oct 15, 2009 10:36am Oct 15, 2009 10:36am
Quoting pakitrader
I appreciate your analysis Global Brother

But u need to tell why you were longing when everyone was short

U still long and what you think it is stop hunt or what

You telling we cannot see 5300 in this decade but you tell the reason why I will appreciate if you give us valuable information so that We can also gain some knowledge. thanks
paki 5690 or 5700 was the MAX LOW we could ever get to, we have bounced off there, and we are not going back there, its history.
  • #176,800
  • Edited 10:49am Oct 15, 2009 10:37am | Edited 10:49am
Quoting pakitrader
I dont know why u guys keep saying long but its better to give your opinion and post chart why you think market is bullish it a trap or a break out or a long term up trend

I hope u guys give your opinion why u think that and post some charts so that newbie can understand better.

THanks

dont let I call u stupid/dumb....

go n check my previous post even just now i did post my chart to support my view of 6400 area...
http://www.forexfactory.com/showpost...stcount=176794


i am out from posting after saw so many people still in bear even yesterday PA close above 1.60 and after today move i realise who make profit and who is not...

here is where i posted in yesterday London where i start to change my view...

http://www.forexfactory.com/showpost...stcount=176004

good luck.....
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