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Cable Update (GBPUSD)

  • #185,781
  • Dec 3, 2009 6:02am Dec 3, 2009 6:02am
Quoting thetruthspy
maybe all usd news today will be green
currently shorting from 1.6624 with stop loss at 1.6644...
and also trailing stop 25pips.....
Im targeting 1.6568...
change my mind since already broke 1.6604.....
My target now is at 1.6534.....
already locked 20pips profit....
Attached Image (click to enlarge)
Click to Enlarge Name: GU.jpg Size: 123 KB
  • #185,782
  • Dec 3, 2009 6:06am Dec 3, 2009 6:06am
take care 4h open above 1.6584 ... it could bounce
  • #185,783
  • Dec 3, 2009 6:07am Dec 3, 2009 6:07am
Quoting FXAdvice
sure
1- rounded level
2- market had resist there brightly

now by break it cable fall more and more ...
Hi FXAdvice,

Thank you for the clarification. I agree. 1.6600 is a psychological level that has experienced strong reaction in the past. My thinking is that since there is momentum behind the price movement caused by news, price orderflow and NY open, price may break through 1.6600 which it did. However, Support 1 pivot level is sitting at 1.6587 which may contain the move down.

I am bearish all the way until the market tells me otherwise.

forexnetworth
www.forexnetworth.blogspot.com
  • #185,784
  • Dec 3, 2009 6:08am Dec 3, 2009 6:08am
Quoting saprasa
How does one install a .ex4?

copy to the expert/ indicators file
  • #185,785
  • Dec 3, 2009 6:09am Dec 3, 2009 6:09am
hi again if cable fall to break 1.6642 it will fall again
  • #185,786
  • Dec 3, 2009 6:14am Dec 3, 2009 6:14am
Quoting deboooo2005
hi again if cable fall to break 1.6642 it will fall again
agree..im waiting for a pull back to that area..and might consider re-shorting from there!

regards
forexisbiz
  • #185,787
  • Dec 3, 2009 6:14am Dec 3, 2009 6:14am
Quoting deboooo2005
take care 4h open above 1.6584 ... it could bounce
(1.6604 - 1.6568)/2 = 18

1.6604 - 0.0018 = 1.6586......

So close with my level...
  • #185,788
  • Dec 3, 2009 6:15am Dec 3, 2009 6:15am
If GBPUSD breaks 1.6580, with sufficient momentum, to drive price below yesterdays daily low, then price should continue to 1.6500, thus allowing GBPUSD to complete its daily range.

NB. Another 73 pips needed to complete daily range.

forexnetworth
www.forexnetworth.blogspot.com
  • #185,789
  • Dec 3, 2009 6:16am Dec 3, 2009 6:16am
Quoting thetruthspy
change my mind since already broke 1.6604.....
My target now is at 1.6534.....
already locked 20pips profit....
I am also looking for 1.6550 bro still holding short from 1.6650
  • #185,790
  • Dec 3, 2009 6:23am Dec 3, 2009 6:23am
Quoting forexnetworth
Hi FXAdvice,

Thank you for the clarification. I agree. 1.6600 is a psychological level that has experienced strong reaction in the past. My thinking is that since there is momentum behind the price movement caused by news, price orderflow and NY open, price may break through 1.6600 which it did. However, Support 1 pivot level is sitting at 1.6587 which may contain the move down.

I am bearish all the way until the market tells me otherwise.

forexnetworth
www.forexnetworth.blogspot.com...
Have nice hunt brother
  • #185,791
  • Dec 3, 2009 6:33am Dec 3, 2009 6:33am
  • #185,792
  • Dec 3, 2009 6:41am Dec 3, 2009 6:41am
Quoting grashid
  • #185,793
  • Dec 3, 2009 6:42am Dec 3, 2009 6:42am
still holding short from 1.6710, tp 1.6550
  • #185,794
  • Dec 3, 2009 6:47am Dec 3, 2009 6:47am
maybe its just me..but i think cable, not sure might be everything fx related is becoming friggin impossible to call..without taking a big risk...
  • #185,795
  • Dec 3, 2009 6:47am Dec 3, 2009 6:47am
GU still picking up seller....
  • #185,796
  • Dec 3, 2009 6:49am Dec 3, 2009 6:49am
We have fallen back into our bearish channel.. looking for possible shorts, checkout PA around the Tl, The bulls are getting rejected.
lowest draw down possible please.
  • #185,797
  • Dec 3, 2009 6:50am Dec 3, 2009 6:50am
Quoting e_piz
sell at 1.67 based on 4H
Kacinggg... TP 80pip reached
Trade what you see. Write what you feel
  • #185,798
  • Dec 3, 2009 7:08am Dec 3, 2009 7:08am
When a trend (per timeframe) has reached an end, the separation of ma's forms a 'bubble'
and begins to collapse as the ma's converge rapidly as we see here on this 15 ema chart. A
rollover (crossover) will appear first in the lowest ma's and move past the convergence and
often will return back to touch or test the bunching of ma's. A previous instance is shown in
the first screen print where the ema's returned to the 144 (aqua line) before continuing in the
new direction. It will be interesting to see if this will occur here again. It happens that the 144
ema (1.6637) currently is situationed right at the daily pivot of 1.6634.

Not calling this a trend change simply based on this 15m chart without testing some areas.

Watch and see.

Dr. D.
Attached Images
  • #185,799
  • Dec 3, 2009 7:11am Dec 3, 2009 7:11am
market still waiting for ben testifies... and cable already try to break this area.
  • #185,800
  • Dec 3, 2009 7:13am Dec 3, 2009 7:13am
Closed short from 1.6625 @ 1.6590, may short again if theres a close below the 200sma (1h)
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