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Cable Update (GBPUSD)

  • #203,421
  • Mar 4, 2010 5:47am Mar 4, 2010 5:47am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
reckon you are looking at the 4 hr chart sir!!



Quoting fourxtrader
Not from any candle formation.... for the light
has been extinguished by three individuals here
whose presence continually offends the spirit...
and my spirit and any who are sensitive to it.

It has caused others to leave...for it brings the
[i][color=blue]worst out in a person and others recognized this....
  • #203,422
  • Mar 4, 2010 5:58am Mar 4, 2010 5:58am
Quoting bbmac
Much like yesterday after the pullback cable this morning has found support athe intersection of the opposite topside of a breeched decsending trend line, with an ascending trend line (circled..) ...this morning also added to the mix was the 38.2% 4852-5131. Yesterday's example saw 2 x bullish pinbars develop on 1hr, this mornings was a bullish engulfing candle on same 1hr t/f although nice bullish divergence set-ups on 1min/5min with a 5min pinbar..

G/L

http://i48.tinypic.com/2s7vx34.jpg
wew...here is the pro's coming...,
your chart really2 talking...
I will be the number one Manager.
  • #203,423
  • Mar 4, 2010 5:58am Mar 4, 2010 5:58am
Quoting JRoyal
I believe price will go down and test the 1.4850-1.4900 area to clear out the rest of the Bears and then start it's move up. We've had a Tom Demark (supply) trendline break on the daily chart to the upside at the 61% retracement level of the move up from Jan. 09 to Aug 09.

I also believe the long term trend is down but this is probably going to be a pretty large retracement. Close to 1000 pips or so in my opinion. So I think we're gonna head lower first but once we reach the 4850-4900 level then I think we will see a nice medium term up move...
  • #203,424
  • Mar 4, 2010 6:03am Mar 4, 2010 6:03am
BOE did not changed any thing QE still at 200b
  • #203,425
  • Mar 4, 2010 6:07am Mar 4, 2010 6:07am
Quoting kill56
BOE did not changed any thing QE still at 200b
Not that good...but going up...
COT: The precious data ignored
  • #203,426
  • Mar 4, 2010 6:09am Mar 4, 2010 6:09am
Quote
I read your post here
http://www.forexfactory.com/showpost...postcount=5110

I shorted this pair @1.6640 , EU @1.5134 and @1.5078 and longed USDCHF @1.000

and closed all these positions for total 320 pips.
Imagine if I still hold these positions.

now I'm looking for the day when I can say WOW I'm holding a position from 1.49 http://cdn.forexfactory.com/images/s.../yim/happy.gif dreaming.

Yes..thats what i am thinking about. If G/U and E/U retrace from their jan high to feb low, then i can build fresh shorts for a journey towards 1.40 in G/U and 1.30 atleast in E/U.

Lets see the big calculation.

Short G/U at 1.55..cover it at 1.40 =

1500 pips x 5 standard lots = $ 75000

Short E/U at 1.40..cover it at 1.30 =

1000 pips x 5 standard lots = $ 50,000
  • #203,427
  • Mar 4, 2010 6:10am Mar 4, 2010 6:10am
Quoting kill56
BOE did not changed any thing QE still at 200b
Could be that the market has already factored it in through this Bull 'pullback'.......
  • #203,428
  • Mar 4, 2010 6:10am Mar 4, 2010 6:10am
Quoting kuroro001
Not that good...but going up...

nothing new man its the cable
  • #203,429
  • Mar 4, 2010 6:11am Mar 4, 2010 6:11am
The short term trend is up.
  • #203,430
  • Mar 4, 2010 6:13am Mar 4, 2010 6:13am
Retracement is due (1.64 high, 1.47 low)

Atleast 50% retracement of 1700 pips movement = 850 pips.

1.55 is good level to build fresh shorts. Lot of patience is required.
  • #203,431
  • Mar 4, 2010 6:13am Mar 4, 2010 6:13am
Quoting JRoyal
I believe price will go down and test the 1.4850-1.4900 area to clear out the rest of the Bears and then start it's move up....
I meant Demand line not Supply line. Apologies
  • #203,432
  • Mar 4, 2010 6:15am Mar 4, 2010 6:15am
Here comes the boom!
Thank You
  • #203,433
  • Mar 4, 2010 6:17am Mar 4, 2010 6:17am
Gonna fall hard from here imo.
{Promotion Removed}
  • #203,434
  • Mar 4, 2010 6:19am Mar 4, 2010 6:19am
Quoting Baby-Trader

.
updated chart
Attached Image (click to enlarge)
Click to Enlarge Name: gu2.gif Size: 16 KB
  • #203,435
  • Mar 4, 2010 6:20am Mar 4, 2010 6:20am
Quoting wormboy
Here comes the boom!
Dragon and Phoenix... FLY
Always looking the GREAT, never left GOOD Point...
  • #203,436
  • Mar 4, 2010 6:22am Mar 4, 2010 6:22am
BOE Leaves Bank Rate Unchanged At 0.5%; QE Left At Stg200bn
1 of 1
LONDON (MNI) - The Bank of England Monetary Policy Committee left

Bank Rate unchanged at 0.5% today and left its quantitative easing

unchanged at stg200bn as forecast by analysts.



The announcement follows the return of positive growth to the

economy in the final quarter of last year and survey evidence showing

growth accelerating in both the manufacturing and services sectors in

the first two months of this year.



The MPC halted QE at stg200bn in February but officials explained

that this was a `pause` rather than an end to QE and have said that

economic developments would be monitored and QE extended further if

warranted.



BOE Governor Mervyn King explained in recent public comments that

the MPC wanted time to take stock of the impact of QE going forward

especially in light of the spike in inflation during the early months of

2010.



A Market News survey showed analysts unanimously forecasting no

change in either Bank Rate or QE at the March meeting. The survey showed

Q4 to be analysts` most favoured timing for any rise in Bank Rate.
  • #203,437
  • Mar 4, 2010 6:28am Mar 4, 2010 6:28am
20 m to the ECB then trichet wil speek at 13.30 GMT
  • #203,438
  • Mar 4, 2010 6:28am Mar 4, 2010 6:28am
this bullish movement on GBPUSD is beginning to look more and more like a fluke. volume indicates that there is no meat in the bullish run
SCARED MONEY NEVER DOES GOOD IN FOREX
  • #203,439
  • Mar 4, 2010 6:33am Mar 4, 2010 6:33am
Quoting kill56
20 m to the ECB then trichet wil speek at 13.30 GMT
HEY BRO. IN WHAT DIRECTION DO YOU THINK THE MARKET IS GOING? I AM SHORT FROM 1.5080
SCARED MONEY NEVER DOES GOOD IN FOREX
  • #203,440
  • Mar 4, 2010 6:36am Mar 4, 2010 6:36am
Quoting omiunu
HEY BRO. IN WHAT DIRECTION DO YOU THINK THE MARKET IS GOING? I AM SHORT FROM 1.5080
lol that's why you said the bullish move is fluke
Thank You
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