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Cable Update (GBPUSD)

  • #196,901
  • Jan 29, 2010 3:31am Jan 29, 2010 3:31am
Now I am starting to regret my entry at 150...oh dear!
  • #196,902
  • Jan 29, 2010 3:32am Jan 29, 2010 3:32am
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
It did retrace, but know I have to make a new decision, shall I take out the one short, because I'm overleveraged [my MM went for a loop as I got greedy... probably still happen to even the big boys from time to time] or shall I keep them both ... lets see where this hour close
  • #196,903
  • Jan 29, 2010 3:34am Jan 29, 2010 3:34am
the breakout was suspicious. it happened before london open.
  • #196,904
  • Jan 29, 2010 3:36am Jan 29, 2010 3:36am
5900 here we come hehe
  • #196,905
  • Jan 29, 2010 3:36am Jan 29, 2010 3:36am
Quoting hnosair
the breakout was suspicious. it happened before london open.
actually it happened after.
  • #196,906
  • Jan 29, 2010 3:37am Jan 29, 2010 3:37am
Ranging area is 1.6113 - 1.6175 --> will be interesting once go beyond !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #196,907
  • Jan 29, 2010 3:38am Jan 29, 2010 3:38am
Quoting Fx1618
It did retrace, but know I have to make a new decision, shall I take out the one short, because I'm overleveraged [my MM went for a loop as I got greedy... probably still happen to even the big boys from time to time] or shall I keep them both ... lets see where this hour close
You never broke previous candle low. If it does not break this is a bounce and will go back up. If it breaks, should go back to the bottom. But as I said, it has not broken this range yet so we are not trending atm.
  • #196,908
  • Jan 29, 2010 3:38am Jan 29, 2010 3:38am
Quoting antic81
Now I am starting to regret my entry at 150...oh dear!
you may get it back to 50
  • #196,909
  • Jan 29, 2010 3:39am Jan 29, 2010 3:39am
Quoting skiffx
actually it happened after.
hehehe .. i cannot tell time. my bad.
  • #196,910
  • Jan 29, 2010 3:39am Jan 29, 2010 3:39am
Quoting hnosair
the breakout was suspicious. it happened before london open.
Nods, it happens sometimes, sometimes it follows through others not, like all trades. Well its Friday, end of the month and we are only afew pips from where we started the month and for that reason I am out until Monday. Just managed 10 pips today, hate ending the week on a loss so roll on next week.

Goodluck to those still trying today....
  • #196,911
  • Jan 29, 2010 3:40am Jan 29, 2010 3:40am
Quoting Ctic
You never broke previous candle low. If it does not break this is a bounce and will go back up. If it breaks, should go back to the bottom. But as I said, it has not broken this range yet so we are not trending atm.
Shorted that 8 .now to see lol
  • #196,912
  • Jan 29, 2010 3:40am Jan 29, 2010 3:40am
Quoting Marj
Nods, it happens sometimes, sometimes it follows through others not, like all trades. Well its Friday, end of the month and we are only afew pips from where we started the month and for that reason I am out until Monday. Just managed 10 pips today, hate ending the week on a loss so roll on next week.

Goodluck to those still trying today....
i am most likely out as well for today.
  • #196,913
  • Jan 29, 2010 3:41am Jan 29, 2010 3:41am
Quoting Ctic
But as I said, it has not broken this range yet so we are not trending atm.
Hi Ctic
tx for both replies. I'll hold till top of hour and make the decision then

M
  • #196,914
  • Jan 29, 2010 3:46am Jan 29, 2010 3:46am
I reckon we are moving up check out the chart. I think prime for a long term trade idea... see the setup on a weekly chart.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdweekly.gif Size: 44 KB
  • #196,915
  • Jan 29, 2010 3:52am Jan 29, 2010 3:52am
right on yesterdays close line
  • #196,916
  • Jan 29, 2010 3:54am Jan 29, 2010 3:54am
Quoting hnosair
the breakout was suspicious. it happened before london open.
That happened above 10min after London session starts and was result of news:

9:00 GBP Nationwide HPI m/m 1.2% 0.4% 0.5%http://cdn.forexfactory.com/images/m...us_revised.gif
  • #196,917
  • Jan 29, 2010 3:55am Jan 29, 2010 3:55am
anyone think it will hit 1.6030 anytime soon?
  • #196,918
  • Jan 29, 2010 3:57am Jan 29, 2010 3:57am
Quoting Fibo_trader
That happened above 10min after London session starts and was result of news:

9:00 GBP Nationwide HPI m/m 1.2% 0.4% 0.5%http://cdn.forexfactory.com/images/m...us_revised.gif
thanks. i should pay more attention to news.
  • #196,919
  • Jan 29, 2010 3:58am Jan 29, 2010 3:58am
looks like a triangle is forming
  • #196,920
  • Jan 29, 2010 4:00am Jan 29, 2010 4:00am
Quoting moksh
I reckon we are moving up check out the chart. I think prime for a long term trade idea... see the setup on a weekly chart.
I woud consider that flag right there/If this breaks 15900 I think thats void for up till 1.46**
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