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Cable Update (GBPUSD)

  • #186,221
  • Dec 7, 2009 9:27am Dec 7, 2009 9:27am
First Target @1.6425
Stop Loss adjusted to 1.6340 +10pips
let's see
  • #186,222
  • Dec 7, 2009 9:27am Dec 7, 2009 9:27am
Quoting wannaberich
the other majors aren't following?!!?

maybe they are just lagging a little bit...
This rally is probably caused by the EUR/GBP being hit by some news about Greece. It is not caused by the pound being strong thats for sure
  • #186,223
  • Dec 7, 2009 9:29am Dec 7, 2009 9:29am
Next Target will be 1.6510
  • #186,224
  • Dec 7, 2009 9:36am Dec 7, 2009 9:36am
looking for a short at the top of that channel (around 1.647)

wish i didn't chicken out so soon, but anyway "noone ever went bankrupt making profits"
Attached Image (click to enlarge)
Click to Enlarge Name: Forex.jpg Size: 82 KB
dreams do come true.
  • #186,225
  • Dec 7, 2009 9:37am Dec 7, 2009 9:37am
First Target Hit 1.6425 +95 pips,
now waiting for second target,
may be @ tokyo session
  • #186,226
  • Dec 7, 2009 9:38am Dec 7, 2009 9:38am
I don't know any reason to change my point of view: I am still holding my shorts.
  • #186,227
  • Dec 7, 2009 9:40am Dec 7, 2009 9:40am
i looked at this as a more than natural pullback after that big rally. any way i look forward to being short too (will feel a lot safer)
dreams do come true.
  • #186,228
  • Dec 7, 2009 9:41am Dec 7, 2009 9:41am
Quoting thetruthspy
I saw a doji CS on 1hr chart....
signal to go long?
Short already lost it steam?
  • #186,229
  • Dec 7, 2009 9:46am Dec 7, 2009 9:46am
seems like it's going back to pivot level (1.6513)
So i took a small long
  • #186,230
  • Dec 7, 2009 9:52am Dec 7, 2009 9:52am
Quoting cphcphcph
seems like it's going back to pivot level (1.6513)
So i took a small long
I agree
  • #186,231
  • Dec 7, 2009 9:59am Dec 7, 2009 9:59am
i will wait for a small retrace at least on 5min chart to enter long! what's the reason behind this sharp climb up?
probably, if cannot go down, then will go up!
  • #186,232
  • Dec 7, 2009 10:07am Dec 7, 2009 10:07am
Quoting sibajnok
I don't know any reason to change my point of view: I am still holding my shorts.
and I added some exactly at the moment, when last H1 closed.

it's over +20pips within five minutes...
  • #186,233
  • Dec 7, 2009 10:12am Dec 7, 2009 10:12am
Fed Chairman Bernanke Speaks at the top off the hour.. do we expect this to be positive for cable..?
  • #186,234
  • Dec 7, 2009 10:30am Dec 7, 2009 10:30am
enter short @1.6406... hoping for it to go to 1.6300... quite dangerous to enter for long... i think..
  • #186,235
  • Dec 7, 2009 10:40am Dec 7, 2009 10:40am
knows' what will happen in 20 minutes ...
  • #186,236
  • Dec 7, 2009 10:53am Dec 7, 2009 10:53am
It might also linger at this level for a number of hours above the
144ema (aqua) on the 5m like it did during the late Asian session.

You can see the shelf on the 15m where it consolidated before.
This again would allow the 5m to reach further compression.

Dr. D.
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  • #186,237
  • Dec 7, 2009 10:58am Dec 7, 2009 10:58am
There is strong resistance at 6430
  • #186,238
  • Dec 7, 2009 11:03am Dec 7, 2009 11:03am
Quoting KwAAkS
closed short 1.6491 - 1.6345
+ 150 pips

open long @ 1.6340 SL 1.6315
closed long @ 1.6423

+ 80 pips

today + 230 pips

out for today...
  • #186,239
  • Dec 7, 2009 11:34am Dec 7, 2009 11:34am
Quoting Baby-Trader
Reversed H&S
Caught it, Went long @ 1.6330
see what will happen?

SL @ 1.6300
as noted before,
first target took @1.6425 & waiting for the second one @1.6510
Stop loss adjusted to 1.6375

It's very Dangerous to load longs now, no cleare setups.
  • #186,240
  • Dec 7, 2009 11:38am Dec 7, 2009 11:38am
we can think of short after price reaches 1.6510 - 1.6550 area depends on price action at that area.
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