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Cable Update (GBPUSD)

  • #187,221
  • Dec 11, 2009 8:29am Dec 11, 2009 8:29am
Quoting Jemmy
..for bad usd news in the next half our..
HMm about gbpusd target is 1.6200 and 1.6180 i close my buterfly before next news...


Cheers
"Buy on fear, sell on greed !!!
  • #187,222
  • Dec 11, 2009 8:32am Dec 11, 2009 8:32am
Quoting galiwang
anyone agree 1.6113 is next station
I'd be happy with the next fib level around 1,6150.
But still don't have the "cohones" to stay that long before more steam builds up.

I entered at 1,6279 with SL at 1,6299 and got out at 1,6239 with 40 pips, according to plan (2/1 profit-loss ratio).

Then caught another 5 pips ride down after retracement.

Not spectacular gain, but I'm happy I stuck with the plan; that's more important.
Let all the days be like this one.
  • #187,223
  • Dec 11, 2009 8:34am Dec 11, 2009 8:34am
If we don't manage to break out from this range, this level (1.6230) could be a good support for an upmove next week.

But if we can break, bears will control.

I am out of GBP/USD trading at this moment.
Attached Image (click to enlarge)
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  • #187,224
  • Dec 11, 2009 8:38am Dec 11, 2009 8:38am
Quoting sibajnok
you're very confident and very good trader.
Thanks buddy...
Hear the music before the song is over ...
  • #187,225
  • Dec 11, 2009 8:39am Dec 11, 2009 8:39am
Quoting sibajnok
If we don't manage to break out from this range, this level (1.6230) could be a good support for an upmove next week.

But if we can break, bears will control.

I am out of GBP/USD trading at this moment.
me 2.
Until US consumer data.
I'd say the most probable scenario is down, but waiting for confirmation.
  • #187,226
  • Dec 11, 2009 8:46am Dec 11, 2009 8:46am
Quoting 30pips
....!
Lol, praying is not a solid strategy.

omiunu, you should take the loss or at least downsize your position, so you can trade another day.
This is already a sad day for you, but it could get much sadder.
And it's not much fun to stay like thisthe next hours or days, hoping for a reverse.
  • #187,227
  • Dec 11, 2009 8:48am Dec 11, 2009 8:48am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Thanks for pointing out mate!
Realized when pointed by him. Guess I am getting old or out of my mind!
Will try to improve.


thanks
ams

Quoting john876
Prob move S/L to break even?
  • #187,228
  • Dec 11, 2009 8:50am Dec 11, 2009 8:50am
Quoting sibajnok
If we don't manage to break out from this range, this level (1.6230) could be a good support for an upmove next week.

But if we can break, bears will control.

I am out of GBP/USD trading at this moment.
The bears are in control.
4hr resistance never breached with a confirmation candle...we are now looking for a long ride down, and as this begins a new cycle of downward swing, I wouldn't be trying to catch the falling knives, or using previous price points as support.
Attached Image (click to enlarge)
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #187,229
  • Dec 11, 2009 8:50am Dec 11, 2009 8:50am
Just for reference
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The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #187,230
  • Dec 11, 2009 8:53am Dec 11, 2009 8:53am
Quoting 30pips
....!
Close it right now
  • #187,231
  • Dec 11, 2009 8:53am Dec 11, 2009 8:53am
Quoting samdani786
Just for reference
$ bulls, unite!
  • #187,232
  • Dec 11, 2009 8:54am Dec 11, 2009 8:54am
Correlation with Magix's chart:

The 1m crossing of the 24sma (red) and the compression point (vertical line)
at the news release and then a pull back (arrows) and test of the 55ema (yellow dotted).

Dr. D.
Attached Images
  • #187,233
  • Dec 11, 2009 8:56am Dec 11, 2009 8:56am
more good news for USD... she might see 1.60....
short @1.6300
  • #187,234
  • Dec 11, 2009 8:56am Dec 11, 2009 8:56am
Quoting samdani786
Just for reference
Rest. is about to be taken out .If so, Cable drops
Attached Image (click to enlarge)
Click to Enlarge Name: usd.gif Size: 14 KB
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #187,235
  • Dec 11, 2009 9:04am Dec 11, 2009 9:04am
Another good entry point for late comers?

Dr. D.
Attached Image
  • #187,236
  • Dec 11, 2009 9:14am Dec 11, 2009 9:14am
The Daily....

Found support on the 200EMA....Given the current direction and negative indicators, I believe one more push and we cut through this like a hot knife through butter. Closing below this line today, will mean that we are in complete bear country.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #187,237
  • Dec 11, 2009 9:16am Dec 11, 2009 9:16am
anyone wonder why 1.6330 so critical on gu ...?

target for me maybe next week is 1.5800

abc correction complete 60 min and down we go

do not worry if you missed initial move , just sell all retraces. I have been

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  • #187,238
  • Dec 11, 2009 9:24am Dec 11, 2009 9:24am
100ema (magenta dotted). I play no favorites.
Must mean the move is slowing down to range.

Don't put your stops too close.

Dr. D.
Attached Image
  • #187,239
  • Dec 11, 2009 9:25am Dec 11, 2009 9:25am
Lazy GU, come on move down your ass ....
EU already move 160 Pips, since US Core retail sales news .....
  • #187,240
  • Dec 11, 2009 9:27am Dec 11, 2009 9:27am
I'm not convinced that we are heading down just quite yet.

It looks like we are still in moving in range and it is providing some good support. I would like to see some bearish movement in between 1.6210 and 1.6190 before I become a bear again

Good Luck
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