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Cable Update (GBPUSD)

  • #187,621
  • Dec 15, 2009 4:43am Dec 15, 2009 4:43am
and down and down we go. hopefully i can get +pips from my current short
  • #187,622
  • Dec 15, 2009 4:45am Dec 15, 2009 4:45am
  •  jaboo
  • | Joined Dec 2009 | Status: Ray Comfort is....the banana man | 236 Posts
Quoting piyeree
and down and down we go. hopefully i can get +pips from my current short
where did you get in?
  • #187,623
  • Dec 15, 2009 4:50am Dec 15, 2009 4:50am
Quoting jaboo
where did you get in?
1.6275 just moved SL to BE to protect current gains
  • #187,624
  • Dec 15, 2009 5:31am Dec 15, 2009 5:31am
Quoting sibajnok
and yes, this sideway is good for anyone, but only for a couple of pips.

6230 is a magic number. if anyone place either long or short at that level during the past couple of days, could have closed the trade in profit easily. we hit that level several times.
this one above was posted yesterday.

and how surprising (or isn't it?) we are here again.

good luck all.
  • #187,625
  • Dec 15, 2009 5:38am Dec 15, 2009 5:38am
The pound is indeed among the most resilient currencies in face of $'s advance.
One should look into conditions that kneeled the pound in October down to 1,57.
Thus one should know what it takes to get the cable lower now, through the 38,2% fib level.
  • #187,626
  • Dec 15, 2009 5:52am Dec 15, 2009 5:52am
On daily chart, we're obviously in a narrowing triangle formation.
You can see why 1,6230 is so important; it's around the middle of the range.

Whether it's consolidation downwards or distribution, I'm not sure.
But the water is boiling and the steam will blow outside the last 5 days' range.
Attached Image (click to enlarge)
Click to Enlarge Name: cabledaily.PNG Size: 35 KB
  • #187,627
  • Dec 15, 2009 5:53am Dec 15, 2009 5:53am
Quoting B@by trader
looks like Im alone, preparing a bull rocket
my bull rocket still unprepared..
perhaps taking a bear rollercoaster is better.
No, waiting is better
  • #187,628
  • Dec 15, 2009 6:14am Dec 15, 2009 6:14am
I'm Long 1.6230 TP 1,6280 SL 1,6180.
  • #187,629
  • Dec 15, 2009 6:27am Dec 15, 2009 6:27am
Quoting Yngwie
Price will go further down maybe 1.6225 1st.. but im done and closed at 1.6240 for 50 pips.

GL guys
As predicted
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #187,630
  • Dec 15, 2009 6:41am Dec 15, 2009 6:41am
Took a bite @ 1.6209/1.6210 at lower trend line for bounce...s/l 1.6285

Let the bull run begin!
Attached Image (click to enlarge)
Click to Enlarge Name: ltl.GIF Size: 31 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #187,631
  • Dec 15, 2009 6:57am Dec 15, 2009 6:57am
can anyone see six heads in 1hr chart..what does it mean?
Patience + Discipline =
  • #187,632
  • Dec 15, 2009 7:01am Dec 15, 2009 7:01am
Quoting Jemmy
can anyone see six heads in 1hr chart..what does it mean?
Means we are caught in a channel...wedge pattern, check the 30m chart I have posted above.

Just a guess...but seems to be playing out like that.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #187,633
  • Dec 15, 2009 7:02am Dec 15, 2009 7:02am
Hello,

Just banked 100 pips,was short at 1.6310 stop at 1.6340 and TP at 1.6210.It is not for the faint hearted to wait for this gain especially today.

thanks,
atheer1
atheer1
  • #187,634
  • Dec 15, 2009 7:04am Dec 15, 2009 7:04am
For me...this is up trend consolidation.

When you look at W1 chart this is obvious:
http://img685.imageshack.us/img685/3001/cablex.png
..up trend

and D1 TF:
http://img196.imageshack.us/img196/2505/cable1.png
...consolidation

answer is 1,0741 +/- line

In the meantime....patiently
Trader from Croatia
  • #187,635
  • Dec 15, 2009 7:06am Dec 15, 2009 7:06am
Quoting atheer1
Hello,

Just banked 100 pips,was short at 1.6310 stop at 1.6340 and TP at 1.6210.It is not for the faint hearted to wait for this gain especially today.

thanks,
atheer1
Nicely done!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #187,636
  • Dec 15, 2009 7:09am Dec 15, 2009 7:09am
Hi guys,

Allow me to count my trade here. Calls posted in FF only will be counted~!

G/U
Quoting Yngwie
closed at 6220 for loss -30 pips.. look like we going to meet 6200
U/J
Quoting Yngwie
TP hit for profit +36 pips
E/J
Quoting Yngwie
Hit SL for loss -30 pips.
U/C
Quoting Yngwie
Hit TP for +60 pips
E/U
Quoting Yngwie
TP hit for +75 pips profit
G/U
Quoting Yngwie
Price will go further down maybe 1.6225 1st.. but im done and closed at 1.6240 for +50 pips.
Total pips for 2 days trades is 161 pips

More trades in my blog
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #187,637
  • Dec 15, 2009 7:12am Dec 15, 2009 7:12am
Why i can't see the long people here when cable is short and vice versa !!

I am long now @ 6239 ???
  • #187,638
  • Dec 15, 2009 7:13am Dec 15, 2009 7:13am
nonetheless, its still great trading
We are the TREND. Resistance is futile...
  • #187,639
  • Dec 15, 2009 7:23am Dec 15, 2009 7:23am
Quoting atheer1
Hello,

Just banked 100 pips,was short at 1.6310 stop at 1.6340 and TP at 1.6210.It is not for the faint hearted to wait for this gain especially today.

thanks,
atheer1
good
we need u when u was start
  • #187,640
  • Dec 15, 2009 7:28am Dec 15, 2009 7:28am
Quoting Jemmy
can anyone see six heads in 1hr chart..what does it mean?
I am just thinking:
GOD made the earth in six days..
there will be no seventh head..
Cable will move down and never come back above the sixth shoulder..
an early warning for all the bulls raiders..
Patience + Discipline =
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