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Cable Update (GBPUSD)

  • #185,841
  • Dec 3, 2009 1:13pm Dec 3, 2009 1:13pm
GBPUSD bearish move has run out of steam. Trade entered at 1.6644 closed at 1.6575 for 69 pips. Overall, I am still bearish as 4 hour and 1 hour market flow are still down. 1.6550, is a strong support level. If it breaks then price could move to 1.6500 to complete daily range as mentioned in my earlier post. I am out! Tomorrow is another day. Happy trading!

forexnetworth
www.forexnetworth.blogspot.com
  • #185,842
  • Dec 3, 2009 1:44pm Dec 3, 2009 1:44pm
I hope I am opening my longs soon which is around ~1.6550.
€.
  • #185,843
  • Dec 3, 2009 1:50pm Dec 3, 2009 1:50pm
Quoting samdani786
Hi everyone. Got screwed yesterday on both trades. Back again

Dragon

PO sell stop at 14595. Lets see
I tend to agree with you Samdani - perhaps Dragon down to 144.80 ish in time - which means Cable will need to break the trend line its down to now - to fall into the void space below - which is possible. Generally the JPY need to correct against AUS/USD/EUR and GBP. So perhaps expect news tomorrow to make this come to fruition.
  • #185,844
  • Dec 3, 2009 1:58pm Dec 3, 2009 1:58pm
I think looking at the chart, 1H and 4H .. bullish signs are showing up ..

One of those rare occasions ... still waiting for the confirmation though ....
{Promotion Removed}
  • #185,845
  • Dec 3, 2009 2:07pm Dec 3, 2009 2:07pm
Today we have a beautiful candle, so tomorrow expect to continue down, and next week we can get 1.629 level, and even below it. good luck
  • #185,846
  • Dec 3, 2009 2:12pm Dec 3, 2009 2:12pm
Quoting FXAdvice
thats my style , read my thread you will find more brother
And that my style
http://www.forexfactory.com/showthre...83#post3278883
  • #185,847
  • Edited 2:35pm Dec 3, 2009 2:20pm | Edited 2:35pm
Im looking for around 6680, then possibly short from there.

Possible H&S on Eg which can help push this up if plays out

Ignore the indicators its just a random template

good luck
Attached Image (click to enlarge)
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  • #185,848
  • Dec 3, 2009 2:36pm Dec 3, 2009 2:36pm
Quoting egkid
And that my style
http://www.forexfactory.com/showthre...83#post3278883
take a look...

http://www.forexfactory.com/showpost...&postcount=317
  • #185,849
  • Dec 3, 2009 2:38pm Dec 3, 2009 2:38pm
Chart speek for himself
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  • #185,850
  • Dec 3, 2009 2:45pm Dec 3, 2009 2:45pm
Quoting Lejumeau
Chart speek for himself
And what does it tell? Go long ?
  • #185,851
  • Dec 3, 2009 2:49pm Dec 3, 2009 2:49pm
Quoting Lejumeau
Chart speek for himself
only valid if the dow stops tanking though!
  • #185,852
  • Dec 3, 2009 2:59pm Dec 3, 2009 2:59pm
Wouldn't it be wiser to wait for 1.6511 as it seems to be a more reliable support area than 1.6550?
Attached Image (click to enlarge)
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  • #185,853
  • Dec 3, 2009 3:25pm Dec 3, 2009 3:25pm
Quoting Fibo_trader
There are 3H fibonacci, which can push up G/U, so Im long too with target 1.6620.
Looks that GBP is too weak to go up. So I will close my position at 1.6575 or get SL at 1.6550.
  • #185,854
  • Dec 3, 2009 3:45pm Dec 3, 2009 3:45pm
GU H4 Lets goo !!!
Attached Image (click to enlarge)
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My English its not very well, be patient
  • #185,855
  • Dec 3, 2009 3:46pm Dec 3, 2009 3:46pm
Does anyone else find it interesting that you lot where all talking about going Long in a downtrend, you see what just happened trying to pick a bottom.

Your odds increase HUGELY if you only trade with the trend and let your SL take care of the direction change without fear.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #185,856
  • Dec 3, 2009 3:56pm Dec 3, 2009 3:56pm
Quoting Turveyd
Does anyone else find it interesting that you lot where all talking about going Long in a downtrend, you see what just happened trying to pick a bottom.

Your odds increase HUGELY if you only trade with the trend and let your SL take care of the direction change without fear.
Very truth!
PA suggests market is going down, especially after yesterday low was broken.
I support that GU accompanies EU mainly, and EU now needs to have a bit of rest until next upswing.
http://s51.radikal.ru/i133/0912/b4/921fa55cf0a7.jpg


I still believe once EU is on upside again, GU will follow it in same up direction.
  • #185,857
  • Dec 3, 2009 3:58pm Dec 3, 2009 3:58pm
I said it was stops hunting. Now watch how they will close this gap.
  • #185,858
  • Dec 3, 2009 4:54pm Dec 3, 2009 4:54pm
it would happen though .. too bullish atm even 4H
hope i could get in at the start of the bull run nomatter how high
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  • #185,859
  • Dec 3, 2009 5:07pm Dec 3, 2009 5:07pm
am targeting 6670 maybe later today.... Gud luck all.
  • #185,860
  • Edited 11:19pm Dec 3, 2009 5:13pm | Edited 11:19pm
Hello everyone, Wish you guys and gals a very veyr pippin session

PO Buy Limit at 16500

fib. Ret. 61.8
fib. Ext. 127
Previous support lavel
Even #
____________________

Ofcourse PA can neglect everything just to screw me over
anyway.

Lets see
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