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Cable Update (GBPUSD)

  • #185,361
  • Dec 1, 2009 5:53pm Dec 1, 2009 5:53pm
On the 4hr it looks like the 61.8 point is acting as some good resistance and it looks like we are do for a pull back after the large run up. On the M30 it looks like it may be showing some signs of a reversal at least a temporary one.

I usually wait till the break of a S/R line with some indicators confirming the trade.

1.6505 is an optimistic target if support is broken but could most likely see at least a 50pip move.

Just my guess lol
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  • #185,362
  • Dec 1, 2009 6:04pm Dec 1, 2009 6:04pm
Quoting FXAdvice
Hi brother ,
how you doing?
im ok got 13+11 and +10 on the road... nothing much today waiting for USDJPY to cool down a bit after that surprise meeting yesterday
When life gives you lemons, make lemonade
  • #185,363
  • Dec 1, 2009 6:07pm Dec 1, 2009 6:07pm
Quoting micho
im ok got 13+11 and +10 on the road... nothing much today waiting for USDJPY to cool down a bit after that surprise meeting yesterday
i see, anyhow profit is profit. already am working on cable short...
  • #185,364
  • Dec 1, 2009 6:13pm Dec 1, 2009 6:13pm
Quoting FXAdvice
i see, anyhow profit is profit. already am working on cable short...
got long on EURUSD at 1.5082 target 1.5104
BE when we reach 1.5092
When life gives you lemons, make lemonade
  • #185,365
  • Dec 1, 2009 6:16pm Dec 1, 2009 6:16pm
might as well get a higher high 1.5122
When life gives you lemons, make lemonade
  • #185,366
  • Dec 1, 2009 6:20pm Dec 1, 2009 6:20pm
here is a chart of the USD / CHF

like is said this is a bullish formation so i would expect some weakness in currencies soon.



http://s657.photobucket.com/albums/u...elkhorn/us.jpg
  • #185,367
  • Dec 1, 2009 6:38pm Dec 1, 2009 6:38pm
Quoting jesterx
here is a chart of the USD / CHF

like is said this is a bullish formation so i would expect some weakness in currencies soon.



http://s657.photobucket.com/albums/u...elkhorn/us.jpg

Which currencies??
  • #185,368
  • Dec 1, 2009 6:40pm Dec 1, 2009 6:40pm
Quoting micho
got long on EURUSD at 1.5082 target 1.5104
BE when we reach 1.5092
stop at BE
When life gives you lemons, make lemonade
  • #185,369
  • Dec 1, 2009 7:07pm Dec 1, 2009 7:07pm
BE hit
When life gives you lemons, make lemonade
  • #185,370
  • Dec 1, 2009 7:15pm Dec 1, 2009 7:15pm
i need help guys i sold gpb at 1.6582 what is ur expectation to this pair what should i put for tp and sl
  • #185,371
  • Dec 1, 2009 7:17pm Dec 1, 2009 7:17pm
mate,
i see on gbp/usd, that we are in a very strong wave 3, am I right?
if this is true, we will see a stronger withiin 4 hours.
never run after pips, let pips just come to you
  • #185,372
  • Dec 1, 2009 7:19pm Dec 1, 2009 7:19pm
Will watch and wait for confirmation, but as guestimated before, buy line will be @ approx 1.6580...200EMA shows 1.6585. I will wait and look to buy this price on the way back up.

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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #185,373
  • Dec 1, 2009 7:51pm Dec 1, 2009 7:51pm
Quoting hano78
i need help guys i sold gpb at 1.6582 what is ur expectation to this pair what should i put for tp and sl
i need answer plz
  • #185,374
  • Dec 1, 2009 8:01pm Dec 1, 2009 8:01pm
Good M/A/E Everyone . Wish you all a very very pippin session.
If USDX breaks 7450 to the upside, will probably go to the black DTL and that will make the cable go south IMHO. Lets see . Iam still shrot cable from 6624. SL 6650.

Good Luck
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The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #185,375
  • Dec 1, 2009 8:16pm Dec 1, 2009 8:16pm
Quoting hano78
i need answer plz
Bro, in the above post Samadani said his sl is 6650.. that is last high value.. you should place your sl there...

Also see the chart.. according to this chart, my expectation is for downside.. only break last high invalidate this setup...

According to the trendlines, 6540 is target, but there is pivot in 6552 area...

Next time take careful...
Always prepared to loss some pips....
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ABCD..
  • #185,376
  • Dec 1, 2009 8:48pm Dec 1, 2009 8:48pm
we stil bullish unless price breaks 1.6550. If not we may see 6650 or ext 6700
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #185,377
  • Dec 1, 2009 8:53pm Dec 1, 2009 8:53pm
Quoting Yngwie
we stil bullish unless price breaks 1.6550. If not we may see 6650 or ext 6700
agree, my TP .6720
  • #185,378
  • Dec 1, 2009 9:46pm Dec 1, 2009 9:46pm
Is anybody still short? still in trade short @ 1.6620
  • #185,379
  • Dec 1, 2009 10:13pm Dec 1, 2009 10:13pm
im short with a tighter stop loss.

waching the dollar (USD i mean)..but its not moving much here.

We might have to wait for the London sessions.
  • #185,380
  • Dec 1, 2009 10:26pm Dec 1, 2009 10:26pm
hano quote:
i need help guys i sold gpb at 1.6582 what is ur expectation to this pair what should i put for tp and sl



Quoting hano78
i need answer plz
No one should take the responsibility to give you a proper tp and sl; however,
you could set a sl at 1% of your trading account especially if you are new at
this and you'll be able to trade another day and quite a few more. If your
account is small and 1% were within the current retrace from 1.6645 then
you might need to trade in smaller lots (mini's or micro's).

On this chart, since you entered on the 23.6 fibo you could set your stop at
a few pips above the 0.0 on the fibo chart of the last big move... then start
taking your first profits on 38.2 and the later fibos at 50.0 and 61.8.

Dr. D.
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