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Cable Update (GBPUSD)

  • #195,781
  • Jan 25, 2010 8:22pm Jan 25, 2010 8:22pm
Well we just broke out of a nice ascending wedge on the 15/30 minute chart, that exactly ended at the 50% retrace of the last move down. My guess is we are headed south from here.
Attached Image (click to enlarge)
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  • #195,782
  • Jan 25, 2010 8:49pm Jan 25, 2010 8:49pm
I am short @6261, only 1 mini, and have a exit order ready....no stops, no target, just playing along. I guess you would say, there is no net.
  • #195,783
  • Jan 25, 2010 9:22pm Jan 25, 2010 9:22pm
Quoting Fleeter
I am short @6261, only 1 mini, and have a exit order ready....no stops, no target, just playing along. I guess you would say, there is no net.

so you will close manually? sounds the crystal ball strategy
Trade Like a Robot make money Like a Bank
  • #195,784
  • Jan 25, 2010 9:23pm Jan 25, 2010 9:23pm
All the talking heads on business News / Cable / 24 Hr news try to talk up the state of the US Economy. When It is Clear WE ARE STILL in the WEEDS.... POOR home - POOR Jobs - More layoffs. Yet it is clear when China decides to "cool off" and Obama tries to ruin bank "prop trading" the "safe haven" is still found in the USD. Hmmmm.

Cable, While the UK may not be the best counter, as they are in recovery as well, today was a decent reaction, (could have been better) to the POOR US news.

From Recent pivot high (6455) and pivot low @ 6085
Fibonacci Retracement shows the struggle of the 50% mark @ around 6265 15 pips above last noted R/S.

Now it seems as asia/aussie have TP. LDN should blow this up.
We'll see.

Charting is a key, we cannot forget about Fundamentals though, this week is a big one for the US. Just a reminder.
X-
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #195,785
  • Jan 25, 2010 9:25pm Jan 25, 2010 9:25pm
Rax, yes, closed trade. +23
  • #195,786
  • Jan 25, 2010 9:28pm Jan 25, 2010 9:28pm
Quoting jack.canadia
Global, nice trade. I posted a 1.61 entry last night in my journal but closed it prematurely

Anyway, to anyone interested here's a trade plan I came up with for a short GBP/USD play. My conditions are evident in my charts for the trade to be taken.

jack
Got a few pips already from 1.6251
  • #195,787
  • Jan 25, 2010 9:39pm Jan 25, 2010 9:39pm
Raz, when I see Profit, I TAKE it. There could be more, or, maybe not. But, you won't have profit, unless you Take It!! You don't need stops, or indicators to tell you what to do.
  • #195,788
  • Jan 25, 2010 9:47pm Jan 25, 2010 9:47pm
Hello

I've offloaded my long position & reversed short with stop placed @6270

Earlier charts:
1. http://www.forexfactory.com/showpost...stcount=195649
2. http://www.forexfactory.com/showpost...stcount=195714

Attached chart below shows why I changed my position. Could still be too early, but I'm not taking my chances. Should this short trade play out, cable could be testing the utl @6110 level again. Time will tell.
Good luck trading to everyone
Attached Image (click to enlarge)
Click to Enlarge Name: guh2.JPG Size: 64 KB
Thank You
  • #195,789
  • Jan 25, 2010 9:56pm Jan 25, 2010 9:56pm
Quoting kill56
prediction dow will see 10000 then from there mat be back to 8000

love the dow
  • #195,790
  • Jan 25, 2010 9:58pm Jan 25, 2010 9:58pm
Seems like down trend is rejected by 1.6210/16, but EU is down trend !
Attached Image (click to enlarge)
Click to Enlarge Name: 260110.gif Size: 84 KB
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #195,791
  • Jan 25, 2010 10:01pm Jan 25, 2010 10:01pm
Hello all,

New member but not new forex trader. Many smart traders in here and enjoy reading all of the info. you all have. My thought is that GU will go down past 1.6075 in the short term (12-24 hrs). It bounced off the 50% fib. retrace @ 1.6268. Have had very good luck with fib. retrace and extensions on this pair. Any thoughts?
  • #195,792
  • Jan 25, 2010 10:02pm Jan 25, 2010 10:02pm
Quoting manize
Seems like down trend is rejected by 1.6210/16 !

bro the whole market is down eur dow all i hate to be long cable dixy up
  • #195,793
  • Jan 25, 2010 10:04pm Jan 25, 2010 10:04pm
Quoting kill56
bro the whole market is down eur dow all i hate to be long cable dixy up
That's why I confused, EU moves down !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #195,794
  • Jan 25, 2010 10:06pm Jan 25, 2010 10:06pm
update dixy
Attached Image (click to enlarge)
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  • #195,795
  • Jan 25, 2010 10:12pm Jan 25, 2010 10:12pm
read room


Britain`s economy will take until 2012 to..

1 of 1
UK PRESS: Britain`s economy will take until 2012 to get back to where it

was before the financial crisis despite the end of Britain`s worst

recession since the 1930s the CBI has warned the Telegraph says.

Richard Lambert director-general of the business group said the

country is now 10pc poorer than it would have been if the recession had

never happened and the UK will have to "generate as much rowth as

possible" over the next five years the paper adds.
1/25/2010 11:05:57 PM

UK PRESS
.
  • #195,796
  • Jan 25, 2010 10:14pm Jan 25, 2010 10:14pm
My conviction is long, based on 4hr outlook. Last candle to me is just static.

long 1.6237
SL 1.6125
tp 1.6349

May take a day and half, but I think the cable is due for a strong up push.
Trade Like a Robot make money Like a Bank
  • #195,797
  • Jan 25, 2010 10:14pm Jan 25, 2010 10:14pm
Quoting kill56
update dixy
All currencies show the strong of USD, the key is just only on GBP perfomance !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #195,798
  • Jan 25, 2010 10:17pm Jan 25, 2010 10:17pm
Quoting Ctic
My position has still not changed from this initial analysis. Modified my TP's and SL. Am looking for short scalps as well, but long is still overall position until I go flat.
Hi bro I need your opinion. I see the compression on H4 --> will be a huge move !
Attached Image (click to enlarge)
Click to Enlarge Name: 260110a.gif Size: 85 KB
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #195,799
  • Jan 25, 2010 10:17pm Jan 25, 2010 10:17pm
Quoting manize
All currencies show the strong of USD, the key is just only on GBP perfomance !

bro today a lot of news important GDP from uk
  • #195,800
  • Jan 25, 2010 10:23pm Jan 25, 2010 10:23pm
Quoting manize
Seems like down trend is rejected by 1.6210/16, but EU is down trend !
Because ... The EU as a Cable, Now !
Always looking the GREAT, never left GOOD Point...
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