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Cable Update (GBPUSD)

  • #191,681
  • Jan 8, 2010 8:20am Jan 8, 2010 8:20am
its starting to test lower, which is unusual for it to do it so early, i thought the trend will somewhat stay about 6080, but now its testing 6060.

Any opinions or ideas on the direction my technical mind is telling me it will test 6100-10 area at least one more time it has to.
  • #191,682
  • Jan 8, 2010 8:21am Jan 8, 2010 8:21am
Quoting adie1976
Thx mate.

i knew technical wud become a lil bit less used in news effect such nfp
but my point is when 6070 break and at the same times news effect has been out of its capability, will the market leaves the bottom and start the new trend, or still finding the bottom ?



so the cable just find the bottom ?
Its the GBP the only thing I would call a bottom would 0.0000, lol, the mkt is a live breathing thing
  • #191,683
  • Jan 8, 2010 8:21am Jan 8, 2010 8:21am
Scalped 80 pip after the news.
We still in the desc channel.
And still holding my shorts.
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  • #191,684
  • Jan 8, 2010 8:22am Jan 8, 2010 8:22am
Quoting RChio
Just a quick one gents & ladies... this is not a professional advice but my thoughts are that the targets would be...

Resistance @ 1.61241

Support @ 1.60622

Personally, I'm goin to bed here down under... but if I was trading I would expect these levels to be tested tonight...

PS.. this would only be valid for tonight!

Cheers & Good trading!

R
Kilalik & Pedram... See quoted post... cheers R
  • #191,685
  • Jan 8, 2010 8:27am Jan 8, 2010 8:27am
bt

u still holding short wow.

wat do u see may i know sir. thanks.
  • #191,686
  • Jan 8, 2010 8:29am Jan 8, 2010 8:29am
Quoting Nomi1
bt

u still holding short wow.

wat do u see may i know sir. thanks.
Normal reaction to the news. and we will back to previous trading levels.
Edit: see the chart above
  • #191,687
  • Jan 8, 2010 8:31am Jan 8, 2010 8:31am
Quoting Baby-Trader
Normal reaction to the news. and we will back to previous trading levels.
I totally agree with you.
I've been scalping too about 1000usd now short again. The market is heading down in the longer term.

regards
Jacko's turtle
  • #191,688
  • Jan 8, 2010 8:31am Jan 8, 2010 8:31am
so this may be a good point to short a small lot.
  • #191,689
  • Jan 8, 2010 8:34am Jan 8, 2010 8:34am
Quoting Nomi1
so this may be a good point to short a small lot.
In my view the good point was @1.61
Edit: and I entered one at it.
  • #191,690
  • Jan 8, 2010 8:36am Jan 8, 2010 8:36am
Hi BT

You may be right... but just to play devils advocate... knowing that the GBP news wasn't too negative so far in 2010 and that the officials have announced that the Asset Purchase Facility of 200B has not changed nor the deadline for expiry (next month).

This would mean that the officials are confident that the British economy is stabilising and have no need for further extension on the asset puchase facility both financial and expiry.

That said.. the US has all negative news... thinking it through.. it sounds like the GBP may gain on the US whether it be short term or long term...

Thoughts?

Cheers,
R
  • #191,691
  • Jan 8, 2010 8:36am Jan 8, 2010 8:36am
Later guys.... Stay long 1.6150/1.6200.

Enjoy
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #191,692
  • Jan 8, 2010 8:38am Jan 8, 2010 8:38am
Quoting Baby-Trader
In my view the good point was @1.61
Edit: and I entered one at it.
i agree with u guys thats why i took another 50 pips now shorting
i have a feeling the market is gonna correct it self in short run next 2-3 hours b4 the fed speaker and Obama speech at 11:40 pst
  • #191,693
  • Jan 8, 2010 8:38am Jan 8, 2010 8:38am
Quoting egkid
Thanks bro
MM And control your risk
My sell still in play
great bro good luck

out befor the NFP in after short eu and cable
  • #191,694
  • Jan 8, 2010 8:39am Jan 8, 2010 8:39am
Took a long at the 1.6050 support targeting 1.6150 (05th high)
Stop at 1.6000
COT: The precious data ignored
  • #191,695
  • Jan 8, 2010 8:39am Jan 8, 2010 8:39am
Quoting Baby-Trader
In my view the good point was @1.61
Edit: and I entered one at it.
bro 16090 is great tooo
  • #191,696
  • Jan 8, 2010 8:44am Jan 8, 2010 8:44am
Quoting kill56
bro 16090 is great tooo
Trade with caution bro.
I trade the probabilities.

Good Luck
  • #191,697
  • Jan 8, 2010 8:46am Jan 8, 2010 8:46am
Quoting Baby-Trader
Trade with caution bro.
I trade the probabilities.

Good Luck
bro i am after 5y hell i am out @16050 hit and run bro
  • #191,698
  • Jan 8, 2010 8:48am Jan 8, 2010 8:48am
Quoting Baby-Trader
In my view the good point was @1.61
Edit: and I entered one at it.
went short @ 1.6077 SL moved to BE. waiting & watching.
SCARED MONEY NEVER DOES GOOD IN FOREX
  • #191,699
  • Jan 8, 2010 8:50am Jan 8, 2010 8:50am
Quoting kill56
bro i am after 5y hell i am out @16050 hit and run bro
Nice pips bro
how long do you trade forex?
  • #191,700
  • Jan 8, 2010 8:51am Jan 8, 2010 8:51am
Quoting Baby-Trader
Nice pips bro
how long do you trade forex?
50 pips today not bad
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