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Cable Update (GBPUSD)

  • #196,881
  • Jan 29, 2010 3:03am Jan 29, 2010 3:03am
It has to blow up more if my pin bar theory holds true--need a good 70 pips within the next hour
  • #196,882
  • Jan 29, 2010 3:04am Jan 29, 2010 3:04am
I close long but I don't advice to go short here eventhough close below 1.6175 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #196,883
  • Jan 29, 2010 3:04am Jan 29, 2010 3:04am
Quoting Fx1618
I really hope the 38Fib holds from the previous high, other wise I'm in deeeeeep *(^&*() , even if it can just momentary retrace to at least 1.614* ish
I hate to say this but I do think it will break. that fib is not the top of the channel.

Tops and bottoms, I have been preaching that all week. Play the tops and bottoms until she bucks you. Do not try to trend trade. We are not trending atm. Set SL's tight on the tops and bottoms. Here are the same charts I been posting all week. Hope it helps. Should bounce back down though.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4 hour.jpg Size: 124 KB
Click to Enlarge Name: daily.jpg Size: 136 KB
  • #196,884
  • Jan 29, 2010 3:05am Jan 29, 2010 3:05am
Quoting manize
I close long but I don't advice to go short here eventhough close below 1.6175 !
Only play at this spot IMO is hedge.
  • #196,885
  • Jan 29, 2010 3:05am Jan 29, 2010 3:05am
i think it is forming a pattern before shooting up. or down.
  • #196,886
  • Jan 29, 2010 3:07am Jan 29, 2010 3:07am
Quoting Ctic
I second the bullshit. BTW wormie, easy money. I wish we would stay in this channel forever. I hope the people in this forum listened to me over the past week when I said play the channel.
Yes C. Not rubbing it, but cable had been easiest to trade this week. I just mentioned it to a few friends in another thread as well.
And I agree, I'd wish for the same thing as well - that cable stays in this range for as long as it takes
Thank You
  • #196,887
  • Jan 29, 2010 3:07am Jan 29, 2010 3:07am
Quoting hnosair
i think it is forming a pattern before shooting up. or down.
Daily chart is in a triangle, and also hanging out by the tunnel (if you trade tunnel theory). It will break eventually, then will trend.
  • #196,888
  • Jan 29, 2010 3:14am Jan 29, 2010 3:14am
Quoting manize
1.6175 is the key level, I hold long untill next H1 close/ open. Hold below it ---> close, but if hold above it, as usual will go more up at least 50 - 100 pips 1.6225 - 1.6275 !
My sentiments exactly. Daily pivot proving a real stronghold for going higher at present. Not sure how much longer it'll keep trying.
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  • #196,889
  • Jan 29, 2010 3:14am Jan 29, 2010 3:14am
Quoting Ctic
Daily chart is in a triangle, and also hanging out by the tunnel (if you trade tunnel theory). It will break eventually, then will trend.
yes.

however, i was referring to the M5 chart. it looks like ascending triangle and it will go upward to 6260 region.
  • #196,890
  • Jan 29, 2010 3:17am Jan 29, 2010 3:17am
Quoting hnosair
yes.

however, i was referring to the M5 chart. it looks like ascending triangle and it will go upward to 6260 region.
Agreed.. That is also top of triangle on daily chart (not as high though).
  • #196,891
  • Jan 29, 2010 3:20am Jan 29, 2010 3:20am
Quoting hnosair
yes.

however, i was referring to the M5 chart. it looks like ascending triangle and it will go upward to 6260 region.
nice lil flag there now
  • #196,892
  • Jan 29, 2010 3:20am Jan 29, 2010 3:20am
Quoting wormboy
Yes C. Not rubbing it, but cable had been easiest to trade this week. I just mentioned it to a few friends in another thread as well.
And I agree, I'd wish for the same thing as well - that cable stays in this range for as long as it takes
I couldn't agree with you more. I picked up some real good pips this week. We will have to see what the next week and month bring. Now unlike you, or as you said you were going to do, but I understand why you didn't, I am done trading until Feb 1. lol. See you next month WB.

C.
  • #196,893
  • Jan 29, 2010 3:23am Jan 29, 2010 3:23am
Quoting Ctic
Only play at this spot IMO is hedge.
Take it up untill US session open !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #196,894
  • Jan 29, 2010 3:23am Jan 29, 2010 3:23am
Quoting Ctic
Like I always say, trade the trend. If that has been the current trend, don't alter until she bucks you. The 8 oclock pinbar, I'll buy it. lol
Is this it? possible.I was hoping for a higher price
  • #196,895
  • Jan 29, 2010 3:23am Jan 29, 2010 3:23am
anyone see this going to 1.6030 anytime soon?
  • #196,896
  • Jan 29, 2010 3:24am Jan 29, 2010 3:24am
Quoting Fly2
nice lil flag there now
yes. or double top and back to bottom again
  • #196,897
  • Jan 29, 2010 3:26am Jan 29, 2010 3:26am
this may be the trend breaker or range breaker
  • #196,898
  • Jan 29, 2010 3:27am Jan 29, 2010 3:27am
hmmm.. is this all the juice europe got?
  • #196,899
  • Jan 29, 2010 3:28am Jan 29, 2010 3:28am
the price has been hugging the lower line more often than upper line. it might break it downward.
  • #196,900
  • Jan 29, 2010 3:28am Jan 29, 2010 3:28am
I shorted my 8 oclock er /now I'll just hang
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