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Cable Update (GBPUSD)

  • #196,721
  • Jan 28, 2010 9:30am Jan 28, 2010 9:30am
will be bounce up at daily S1 6130 ?
Patience + Discipline =
  • #196,722
  • Jan 28, 2010 9:33am Jan 28, 2010 9:33am
News were: DJ-BTMU Economic Barometer, Prev: -2.1%, Actual: +0.6% at 15:00GMT
  • #196,723
  • Jan 28, 2010 9:33am Jan 28, 2010 9:33am
Quoting maxss280
I think this move may have something to do with President Obama State of the Union yesterday and the Freeze of Government Spending for three years?

Seems to coincide with the start of the NY session. Pretty drastic if they really do freeze govt spending for three years. Could explain why it affected a lot of pairs.

What do you all think?
No idea! I just read the charts and go with it/don't care what news there is/cept a major war or something like 9/11.
  • #196,724
  • Jan 28, 2010 9:34am Jan 28, 2010 9:34am
Quoting antic81
Good man! I think I need to come to you for my dose of patience! What level are you looking for mate? Down to the 1.59s?
1.57 first
  • #196,725
  • Jan 28, 2010 9:36am Jan 28, 2010 9:36am
Quoting Reznik
LoooooNG....
toLoooooNG....(java pips please translate)
Patience + Discipline =
  • #196,726
  • Jan 28, 2010 9:39am Jan 28, 2010 9:39am
Quoting Fly2
see ya/enjoy the pips
Good luck with your buy - think it's a good move as it's close to the bottom of the trading range.
May the forex be with you |
  • #196,727
  • Jan 28, 2010 9:41am Jan 28, 2010 9:41am
Quoting Jemmy
will be bounce up at daily S1 6130 ?
On the daily time frame we have a contracting triangle with the thrust pointing downwards. We are in the last leg of this triangle, namely leg E. A thrust out of a contracting triangle seldom comes back to the beginning of its Wave E. Wave E could have ended at 6472 or at 6281. In these types of triangles Wave E, ususally ends on a line that is the median line between the 2 converging trendlines of the triangle. So take the 2 trendlines that make this triangle contracting, find where they intersect, then draw a median line, and you see that the thrust is below the median line. Your chances of coming up to any zone between 6281-6472 is so slim right now, that if you have a open order for a buy, its going to drain your account.
  • #196,728
  • Jan 28, 2010 9:42am Jan 28, 2010 9:42am
Quoting Ctic
Agreed,

We have to break this channel we have been in for the past week. Only then can we determine a direction. For now play tops and bottoms with tight S/L's. Has been hinting upwards but usually cause for alarm as to a fake out.
And as I said before, since no one listens to me (but that's ok) Tops and bottoms people, Tops and bottoms.

Shad I do think you are a good trader, but you are calling this like we are in a trend. We are not in a trend as of yet. Sideways. 1.68 target? Like I said not until we break this channel we are in. For the charts, look at my post I replied to.
  • #196,729
  • Jan 28, 2010 9:42am Jan 28, 2010 9:42am
Quoting Clouds
This is a H&S, right?
Attachment
Dosent look like HnS to me at all...
  • #196,730
  • Jan 28, 2010 9:42am Jan 28, 2010 9:42am
Quoting FXFundi
Good luck with your buy - think it's a good move as it's close to the bottom of the trading range.
yeah just gonna squeeze a few more out of this lemon and call the day.Always another trade to be had
  • #196,731
  • Jan 28, 2010 9:44am Jan 28, 2010 9:44am
Look EurGbp and Gold
  • #196,732
  • Jan 28, 2010 9:45am Jan 28, 2010 9:45am
Strange move. US comes with not so good news and it goes in favor of the USD.
  • #196,733
  • Jan 28, 2010 9:45am Jan 28, 2010 9:45am
closed long for a few.maybe if I get an inside bar on the 15 min/I'll long 1.maybe
  • #196,734
  • Jan 28, 2010 9:51am Jan 28, 2010 9:51am
Quoting Fly2
closed long for a few.maybe if I get an inside bar on the 15 min/I'll long 1.maybe
no need to rush. give it sometime to consolidate and form a pattern
  • #196,735
  • Jan 28, 2010 9:52am Jan 28, 2010 9:52am
Quoting Ctic
And as I said before, since no one listens to me (but that's ok) Tops and bottoms people, Tops and bottoms.

Shad I do think you are a good trader, but you are calling this like we are in a trend. We are not in a trend as of yet. Sideways. 1.68 target? Like I said not until we break this channel we are in. For the charts, look at my post I replied to.

Hi there, I am with you on that one, according to my chart I have a nice trend line around the 16130 are so will have a look at a buy here.
  • #196,736
  • Jan 28, 2010 9:52am Jan 28, 2010 9:52am
Quoting et_phonehome_2
Strange move. US comes with not so good news and it goes in favor of the USD.

mmm but that happens a lot ?
going against what is anticipated is often the move ?
  • #196,737
  • Jan 28, 2010 9:54am Jan 28, 2010 9:54am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Posted cable chart on my thread earlier.


http://www.forexfactory.com/showthre...98#post3409398
  • #196,738
  • Jan 28, 2010 9:58am Jan 28, 2010 9:58am
Quoting ams
Posted cable chart on my thread earlier.


http://www.forexfactory.com/showthre...98#post3409398
ams,

Your charts look similar to mine and we are both in agreement that this is in a consolidation channel. You can see my charts from earlier in this post.
  • #196,739
  • Jan 28, 2010 10:01am Jan 28, 2010 10:01am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Indeed mate!

Thy goes higher thy makes me happy

Quoting Ctic
ams,

Your charts look similar to mine and we are both in agreement that this is in a consolidation channel. You can see my charts from earlier in this post.
  • #196,740
  • Jan 28, 2010 10:02am Jan 28, 2010 10:02am
I decided to call the day/I'll take my positive pips and roll out.My own rule.Never win money at the casino and the give it right back.Besides tired and overtrading will kill ya.Have a good one and to the shorters
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