Cable Update (GBPUSD)

Quoting wormboy

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Hello guys

I'll be looking to maintain short position from yesterday. I think it's worth a mention that price had now traded more than 24 hours below the 5170 psychological barrier, which is also the neckline of the massive complex H&S formation. We're definitely in bear country & unless price close back above 5170, or scalping for pips, imho it's sell all rallies.

Good luck to everyone.

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Quoting forexlion

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chances of cable going up are stronger currently

5070 held as support pushing cable to the topside

http://img687.imageshack.us/img687/4535/cablen.gif

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Quoting manize

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Expensive --> 160 rb / kg !

Open an hot spot coffee cafe in Jakarta, I'll supply you, let us hit starbuck, OK ?

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Quoting kill56

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read room


i've read a lot of things about forex, but there's one concept that i would like to discuss here.
When we're trading on H4 and D1, it's important that we see the same candle formations that banks and institutions see. For example, if we see a doji or a hammer, we hope the "big boys" will see it too, because we want to ride with them when they buy or sell.

Now, the thing most people don't realized is that the candles look different (on H4 and D1) from broker to broker! One broker may have their candle close at 00:00 GMT and another...

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Quoting wormboy

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Hello guys

I'll be looking to maintain short position from yesterday. I think it's worth a mention that price had now traded more than 24 hours below the 5170 psychological barrier, which is also the neckline of the massive complex H&S formation. We're definitely in bear country & unless price close back above 5170, or scalping for pips, imho it's sell all rallies.

Good luck to everyone.

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Quoting Jns

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Hi Everybody
how much lower can the pound go???

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Quoting Jns

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Hi Everybody
how much lower can the pound go???

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Quoting forexlion

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Time for the Lion to make a statement

My call is for 4780 or lower

doubts ? see attached pdf file, this comes direct from esignal the market leaders in EW analysis

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Quoting Dazzer

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Agree with you wormboy, excellent chart. With the election apparently heading towards a hung parliament, I wouldn't be surprised if we go below 1.49 today.
Its been a very predictable week so far, so lets see what today brings.

Dazzer

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Quoting The Magician

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Agree with the sentiment in here, this baby is going down. Great chart wormboy, that head and shoulders looks shweeeet! Definitely short bias today, although everyone should be Very careful with data later and election. gonna be a rocky ride!

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Quoting Dazzer

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Today it can go anywhere very quickly. We just touched yesterday's low to the pip and then bounced back up. But this sucker won't hold. We're going down. This is a great day if you're a broker, election in the UK (1st hung parliament for 30 years) and lets not forget the US emloyment data later.
Excuses, excuses to manipulate the price more than normal. Stops have to be wider than normal if you have the guts to place a bet.

Good luck to all.

Dazzer

Wow look at that M30 candle. Its only quarter past.....

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Quoting forexlion

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@ 5036 we should be taking some rest

http://img517.imageshack.us/img517/1043/cable.gif

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