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Cable Update (GBPUSD)

  • #214,701
  • Apr 8, 2010 7:58am Apr 8, 2010 7:58am
Quoting bbakker
What does that signify? We are going north?
Yes - dixy is the $ Index - but its mostly Euros
Nil Desperandum Illegitimi Carborundum
  • #214,702
  • Apr 8, 2010 7:59am Apr 8, 2010 7:59am
Quoting cloggie
next ass level is 5252
Do you reckon we'll see a big sell off tomorrow pm just before London close. Happened so often recently, the pro's don't want to get caught holding high value stock and the medium term trend reading actionforex, fxcm etc, seem to suggest some more downward momentum?
  • #214,703
  • Apr 8, 2010 7:59am Apr 8, 2010 7:59am
Quoting OldReigatian
Hi Bad - not a stupid question and I didn't mean to be so flippant. In all honesty I can't see what has caused it. There was good news from UK retail, not so good news unemployment figures in US. We have been trading a tight range for some time at a relatively low rate, maybe there was just the appetite from the institutions.
No no, I didnt take it badly, I was simply berating myself for asking

This hindsight vision I have though is brilliant. Keep my bad trade from a few weeks ago going to see it multiply my pot, keep my long at 15160 on from this morning, etc
Back to basics, it has to be for me!
  • #214,704
  • Apr 8, 2010 7:59am Apr 8, 2010 7:59am
based on the daily range, we just about hit the high for London to the pip.

Short 5251, not for the fainthearted, I am well green for the day so can afford to take this.
  • #214,705
  • Apr 8, 2010 8:00am Apr 8, 2010 8:00am
Quoting bbakker
What does that signify? We are going north?

if the dixy hold then we will go back east again
  • #214,706
  • Apr 8, 2010 8:01am Apr 8, 2010 8:01am
Quoting bbakker
What does that signify? We are going north?
81.5 is support. don't look like it's going lower .. time will tell
Thank You
  • #214,707
  • Apr 8, 2010 8:06am Apr 8, 2010 8:06am
Quoting kill56
if the dixy hold then we will go back east again
Sorry, this is a question I have been too embarrassed to ask, but curiosity has gotten the better of me. What does go back east mean, we will continue to trade in a range?
  • #214,708
  • Apr 8, 2010 8:06am Apr 8, 2010 8:06am
Lets see if it will break and closes above, if not maybe take a short from the top for a 100 pips or so.

Attached Image (click to enlarge)
Click to Enlarge Name: april 8 - gu - triangle pattern 2.jpg Size: 214 KB
  • #214,709
  • Apr 8, 2010 8:07am Apr 8, 2010 8:07am
The battle of 5248 has been the fiercest today. If it holds then there is no stopping the bears. London close has not been able to quell the battle, so far
  • #214,710
  • Apr 8, 2010 8:09am Apr 8, 2010 8:09am
Quoting OldReigatian
Sorry, this is a question I have been too embarrassed to ask, but curiosity has gotten the better of me. What does go back east mean, we will continue to trade in a range?

man east is south to me i a,m crazy
  • #214,711
  • Apr 8, 2010 8:14am Apr 8, 2010 8:14am
Quoting kill56
man east is south to me i a,m crazy
In that case I'll Go West - I don't need any more crazy dudes in my life
  • #214,712
  • Apr 8, 2010 8:16am Apr 8, 2010 8:16am
this is normal it could be that institutions are takeing stops out before resuming south direction
  • #214,713
  • Apr 8, 2010 8:16am Apr 8, 2010 8:16am
Short 1.5253 SL 1.5330 Target ---> Let's see
  • #214,714
  • Apr 8, 2010 8:17am Apr 8, 2010 8:17am
Quoting OldReigatian
Sorry, this is a question I have been too embarrassed to ask, but curiosity has gotten the better of me. What does go back east mean, we will continue to trade in a range?



Means the market is sideways. Hope u know the market can only go north, south or east but never west as per the charts
  • #214,715
  • Apr 8, 2010 8:17am Apr 8, 2010 8:17am
Quoting £Check
am waiting for it to start south, my shorts are avg @ 1.5213
targetting 1.517x
Got 2 shorts booked at mo averaging 1.5220 and looking to tp at 1.5160 - Will look to add a third at 1.5325 if it goes up that high. good luck
  • #214,716
  • Apr 8, 2010 8:18am Apr 8, 2010 8:18am
Quoting Baby-Trader
Short 1.5253 SL 1.5330 Target ---> Let's see
Reason : Daily Demark High is @1.5260
  • #214,717
  • Apr 8, 2010 8:19am Apr 8, 2010 8:19am
Quoting wormboy
81.5 is support. don't look like it's going lower .. time will tell
  • #214,718
  • Apr 8, 2010 8:19am Apr 8, 2010 8:19am
Quoting Baby-Trader
Short 1.5253 SL 1.5330 Target ---> Let's see
The upsurge is slowing down! I am still waiting for it to hit my 65, but if there is no sign of it, I might bring it down to 60
  • #214,719
  • Apr 8, 2010 8:20am Apr 8, 2010 8:20am
Quoting cloggie
based on the daily range, we just about hit the high for London to the pip.

Short 5251, not for the fainthearted, I am well green for the day so can afford to take this.
Why do you think that's risky? Or just worried about the break above coming into play? Take it the SL is 5310+?
Back to basics, it has to be for me!
  • #214,720
  • Apr 8, 2010 8:21am Apr 8, 2010 8:21am
Quoting OldReigatian
In that case I'll Go West - I don't need any more crazy dudes in my life
welcome to crackforex club
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