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Cable Update (GBPUSD)

  • #185,001
  • Nov 28, 2009 9:56am Nov 28, 2009 9:56am
Quoting micho
USDJPY next target 85.5x (possible gap down)
EURCAD next target 1.590x (possible gap up)
EURUSD and GPBUSD not so clear (possible gap up)
GPBJPY next target 140.3x (possible gap down)


USDZAR next target adjustable 1.362x
When life gives you lemons, make lemonade
  • #185,002
  • Nov 28, 2009 1:26pm Nov 28, 2009 1:26pm
1.6465 as posted on previous charts was the stall line for cable...(55EMA daily chart). The retrace has closed below this critical line, triggering further downside movement to 200EMA line daily chart. Will use plays off triggers off of 4hr - 15m charts, but will be looking for bear run to continue, don't see too many good things for the bulls at this point.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #185,003
  • Nov 28, 2009 11:41pm Nov 28, 2009 11:41pm
malcolmb.
please have a look on this wave count and indicate if it is right or wrong.

thanks.
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  • #185,004
  • Nov 29, 2009 12:50am Nov 29, 2009 12:50am
Baby-Trader, you thinking 5900-6000 ??
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ABCD..
  • #185,005
  • Nov 29, 2009 2:26am Nov 29, 2009 2:26am
4h,1h,15min all point down but daily stopped at Daily Resistant and didn't break it 1.6270

So are we going up or down ,So far nothing for sure till Sunday but i just saw something might pointing to UP so thought to post to be careful my friends.
Bullish Pattern ABCD, B point 1.57 , D point 1.6270
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  • #185,006
  • Nov 29, 2009 7:56am Nov 29, 2009 7:56am
Quoting sreeprakash
Baby-Trader, you thinking 5900-6000 ??
Hello Bro,
according to EW analysis and current market position, if I mark it correctly we should be see 1.55 through next 2 weeks.

but I'm not sure if that so I'll be very careful.


Good Luck bro.
  • #185,007
  • Nov 29, 2009 7:57am Nov 29, 2009 7:57am
Quoting egkid
4h,1h,15min all point down but daily stopped at Daily Resistant and didn't break it 1.6270

So are we going up or down ,So far nothing for sure till Sunday but i just saw something might pointing to UP so thought to post to be careful my friends.
Bullish Pattern ABCD, B point 1.57 , D point 1.6270
thanks Bro,
It is very important to take it into consideration.
I'll study it today.

Good Luck
  • #185,008
  • Edited 9:40am Nov 29, 2009 8:56am | Edited 9:40am
UP or Down.
Time will tell.
but I think if we break this triangle up we will see 1.7355 else
we will see 1.5935.
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  • #185,009
  • Nov 29, 2009 9:22am Nov 29, 2009 9:22am
Thanks Baby-Trader...

In the current situation, possibility is for downside...
Dubai problem... Its still not clear, coming weeks will reveal more things about it...

In India, some ministers yesterday announced that dubai have not much impact on our economy, but the truth is far away...
ABCD..
  • #185,010
  • Nov 29, 2009 9:26am Nov 29, 2009 9:26am
Hi everyone,

I'm thinking that GU might go up n see if it can break friday's pivot at 1.6574. If it does, then I'm looking at 1.6674 and then 1.6735. Otherwise it will go to 1.6414 and next 1.6317. Just my 2 cents. Any other views please? Cheers.
  • #185,011
  • Nov 29, 2009 9:35am Nov 29, 2009 9:35am
I suggest everyone to read this book.

http://www.4shared.com/file/33124486...c_Tra.html?s=1
  • #185,012
  • Nov 29, 2009 9:58am Nov 29, 2009 9:58am
My trading suggestion for Mon,

1-Sell rallies against 1.6745 ( sell around 1.6575-1.66) , with SL above 1.6745 or appropriate hedging method if price breaks above that

2-Sell at break of 1.645
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  • #185,013
  • Nov 29, 2009 12:19pm Nov 29, 2009 12:19pm
GBPUSD Weekly Pivots.

Last Week, High :1.6744 Low:1.6270 Close:1.6463

Current Week:
Pivot: 1.6492
R1 : 1.6714
R2 : 1.6966
R3 : 1.7188

S1 : 1.6240
S2 : 1.6018
S3 : 1.5766
  • #185,014
  • Nov 29, 2009 12:23pm Nov 29, 2009 12:23pm
  •  IbkA
  • | Joined Nov 2009 | Status: 'Hope' + 'Greed' = GAMBLING... | 514 Posts
You've narrated this lesson in a sure funny way; and I'm sure others have been there before. I was asking someone on Friday how 'sure' they were this was going to 1.6250 as he said cable 'must' go there before a retrace; I've discovered there's no 'must' about trading, it's best to just take as many green pips as you can off the table, when you can, and just sit back and watch.

Let go of my 'fear' last week, and did a bit of trading again, and lost money by closing out slightly negative positions too early, doing the exact opposite to what you did here, i.e. you closed out positive positions too late.

I'm coming to realise the best way to trade is to follow your initial instinct, i.e. don't move your TP or stop loss, don't over-rely on what's being said here as everyone is posting based on their 'instinct' too, and don't let either, greed, fear, or impulse get the better of you.

The fact is, you've learnt lessons, shared in your list below, so good luck to you for next week.

i

Quoting Baby-Trader
Good day all,
I'd like to share my todays experience with you.

Morning when I see a short trade signal @1.6470 I entered it @1.6459 with SL @1.6492 & TP @ 1.6300.
the trade went to the green direction & my tight SL didn't hit for 2 hours so I had a positive feelings for that trade.
I closed my PC and took my car and drove to another city which is far away about 200 KM of my house.
Sure, frequently I look at my Black Berry to see my trade position.(Psychological behaviour)

when I saw the Price Action and its fast speed approaching...
  • #185,015
  • Nov 29, 2009 12:30pm Nov 29, 2009 12:30pm
Quoting Baby-Trader
I suggest everyone to read this book.

http://www.4shared.com/file/33124486...c_Tra.html?s=1
nice find!
  • #185,016
  • Nov 29, 2009 1:50pm Nov 29, 2009 1:50pm
What forex broker works on sundays with Aonda
  • #185,017
  • Nov 29, 2009 2:44pm Nov 29, 2009 2:44pm
I see a gap on gbp/usd pair. My pair is at 1.6551 .
  • #185,018
  • Nov 29, 2009 2:45pm Nov 29, 2009 2:45pm
Quoting micho
USDJPY next target 85.5x (possible gap down)
EURCAD next target 1.590x (possible gap up)
EURUSD and GPBUSD not so clear (possible gap up)
GPBJPY next target 140.3x (possible gap down)

pound- gap up. at least according to my charts
gbp/jpy- gap up
usd/jpy gap up

are you seeing this?
  • #185,019
  • Nov 29, 2009 2:45pm Nov 29, 2009 2:45pm
IbKA

I agree. The trades I lose out on are when I feel the fear or fail to trust in my decision. On Friday I could have doubled my takings, but closed my cable position at 11am...even when I initially had a 120% sureness that it would close where she did.
  • #185,020
  • Nov 29, 2009 3:19pm Nov 29, 2009 3:19pm
Current GU : 1.6535
EU : 1.5020
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