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Cable Update (GBPUSD)

  • #197,841
  • Feb 2, 2010 7:46pm Feb 2, 2010 7:46pm
Quoting big_pipin
I'm still long!. 6078 c'mon baby




i am with u master....
Revesal Trader
  • #197,842
  • Feb 2, 2010 7:58pm Feb 2, 2010 7:58pm
Quoting mygoldenpips
i am with u master....
Lol, thanks but im far from master status, but thanks for the ego boost
  • #197,843
  • Feb 2, 2010 8:11pm Feb 2, 2010 8:11pm
Must be some heavy stops (institutional) within the .58 area. The market seems bent on pressuring them. With more than half the market bearish on the pound I cant see any other reason for the big guys appeasing the retailers the way they are now.
  • #197,844
  • Feb 2, 2010 8:26pm Feb 2, 2010 8:26pm
I see this move up stopping between 1.6014 and 1.6052. The price bounced exactly at the 38% fib and should stop between the 50 and 61% then continue down. I will be selling at both of those levels with my stop at 1.6210. Most likely will close before then, depending on price action around the London open.

Shawn
Attached Image (click to enlarge)
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  • #197,845
  • Feb 2, 2010 8:44pm Feb 2, 2010 8:44pm
Quoting sswilli99
I see this move up stopping between 1.6014 and 1.6052. The price bounced exactly at the 38% fib and should stop between the 50 and 61% then continue down. I will be selling at both of those levels with my stop at 1.6210. Most likely will close before then, depending on price action around the London open.

Shawn
I have a feeling that if we cant hold 5900, price will break all previous support below it. Momentum is also building higher on the downside, higher than the last 8 hrs.... volcano about to erupt?

took 2/3rds off the table here and moving stop to break even. + 103 pips. Now I can sleep tonight.
  • #197,846
  • Feb 2, 2010 8:45pm Feb 2, 2010 8:45pm
I played with the cycle lines and you can see how this down move has been very timed so far. I am expecting it to stay that way and when it breaks the timeline, then I will be thinking that the momentum overall has changed.
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  • #197,847
  • Feb 2, 2010 8:50pm Feb 2, 2010 8:50pm
So how do you factor in double bottom/ top s/r?... a trend line is just one perspective, but yes i agree, we need to bounce off that line if possible.
  • #197,848
  • Feb 2, 2010 9:03pm Feb 2, 2010 9:03pm
Thought I'd throw this out fwiw, I am long but will become a very nervous long if this 5m trend falters...
Attached Image (click to enlarge)
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  • #197,849
  • Feb 2, 2010 9:16pm Feb 2, 2010 9:16pm
i started longing the cable @ 1.5983

my first T.P price will be 1.6065

as it is the first 4HR+DAILY resistance

hope all good trading and green pips



AMR EL NAGGAR
THE CREATOR AND OWNER OF S.N.M "Serve no Master" Trading Stystem
  • #197,850
  • Feb 2, 2010 9:54pm Feb 2, 2010 9:54pm
Quoting negro wolf
i started longing the cable @ 1.5983

my first T.P price will be 1.6065

as it is the first 4HR+DAILY resistance

hope all good trading and green pips



AMR EL NAGGAR
sl?
30pips?
Revesal Trader
  • #197,851
  • Feb 2, 2010 9:59pm Feb 2, 2010 9:59pm
Quoting mygoldenpips
sl?
30pips?

try to figure it out urself

i am the .TP santa cluze

not the SL one

LOL
THE CREATOR AND OWNER OF S.N.M "Serve no Master" Trading Stystem
  • #197,852
  • Feb 2, 2010 10:03pm Feb 2, 2010 10:03pm
Quoting mygoldenpips
sl?
30pips?
check sswilli99's post http://www.forexfactory.com/showpost...stcount=197851

so somewhere right below the trend line would be good
  • #197,853
  • Feb 2, 2010 10:06pm Feb 2, 2010 10:06pm
Quoting skiffx
check sswilli99's post http://www.forexfactory.com/showpost...stcount=197851

so somewhere right below the trend line would be good

tq....
Revesal Trader
  • #197,854
  • Feb 2, 2010 10:38pm Feb 2, 2010 10:38pm
Quoting Jemmy
D-4 ~ BULLS 0 : 7 BEARS
D-3 ~ BULLS 5 : 2 BEARS
D-2 ~ BULLS 0 : 7 BEARS
D-1 ~ BULLS 0 : 7 BEARS
D0 ~ BULLS 1 : 6 BEARS
Conclusion:
Still on the Bears side..
Only looking for short entry..
Attachment
D-4 ~ BULLS 5 : 2 BEARS
D-3 ~ BULLS 0 : 7 BEARS
D-2 ~ BULLS 0 : 7 BEARS
D-1 ~ BULLS 1 : 6 BEARS
D-0 ~ BULLS 3 : 4 BEARS

Conclusion:
Bears losing much power..
Consider to close any short opened..
Attached Image
Patience + Discipline =
  • #197,855
  • Feb 2, 2010 10:48pm Feb 2, 2010 10:48pm
Quoting mygoldenpips
sl?
30pips?
Stop losses greatly depend on the timeframe you are trading. If you are trading the daily chart, most times than not a 30 pip loss is a guarenteed loser. A 30 pip stop loss would be sufficient if you were playing the 15 or 30 minute chart. For example, the 30 you would set a 30 pip sl and a 50 pip tp. Entry point would have to be accurate to go with the short term trend.

Just a thought.
  • #197,856
  • Feb 2, 2010 10:51pm Feb 2, 2010 10:51pm
Click Below:
http://www.mizuho-cb.co.uk/TresInternet/PDF'S/gbp.pdf
{Promotion Removed}
  • #197,857
  • Feb 2, 2010 10:56pm Feb 2, 2010 10:56pm
Quoting Ctic
Stop losses greatly depend on the timeframe you are trading. If you are trading the daily chart, most times than not a 30 pip loss is a guarenteed loser. A 30 pip stop loss would be sufficient if you were playing the 15 or 30 minute chart. For example, the 30 you would set a 30 pip sl and a 50 pip tp. Entry point would have to be accurate to go with the short term trend.

Just a thought.
tq masta....yeah i am short term trader...just a newbie trade forex for only 3-4month....where gu going master?...kind enough to post your prediction...
Revesal Trader
  • #197,858
  • Feb 2, 2010 11:21pm Feb 2, 2010 11:21pm
Quoting atif
Click Below:
http://www.mizuho-cb.co.uk/TresInternet/PDF'S/gbp.pdf
thanks, Ive read a few reports today, they are of the same opinion as the above.
  • #197,859
  • Feb 2, 2010 11:23pm Feb 2, 2010 11:23pm
Quoting Jemmy
Conclusion:
Bears losing much power..
Consider to close any short opened..
Attachment
Hi Jemmy, with the pic you included I was sort off able to see how you make your count, its interesting and makes sense. Presume... and yes I know its the mother of all *%&%, but anyway, that the D-1, D-2 etc is for the actual day the "trend" is in place...
  • #197,860
  • Feb 2, 2010 11:32pm Feb 2, 2010 11:32pm
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