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Cable Update (GBPUSD)

  • #230,141
  • Jun 6, 2010 4:28pm Jun 6, 2010 4:28pm
Quoting alex1976
when the prices opens down, what is the best thing to do? wait for the retracement?

gap should try and fill ... 90% of time it does but if markets are very bearish it will not
Blogging daily now at www.volume.zone
  • #230,142
  • Jun 6, 2010 4:31pm Jun 6, 2010 4:31pm
Quoting malcolmb14
gap should try and fill ... 90% of time it does but if markets are very bearish it will not
The GU daily chart pattern assures that 1.40 will be broken this week.
Sooner than later, may be on tuesday.
  • #230,143
  • Jun 6, 2010 4:32pm Jun 6, 2010 4:32pm
Quoting malcolmb14
gap should try and fill ... 90% of time it does but if markets are very bearish it will not

thanks Malc!

I will wait for a good short entry.
  • #230,144
  • Jun 6, 2010 4:35pm Jun 6, 2010 4:35pm
this LTL needs to be tested before falling. and this will be a very strong confirmation to continue the way to 1.35.
But we can also continue falling from here.
btw time will tell.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 24 KB
  • #230,145
  • Jun 6, 2010 4:35pm Jun 6, 2010 4:35pm
Quoting alex1976
when the prices opens down, what is the best thing to do? wait for the retracement?
no, take the money & run
Attached Image (click to enlarge)
Click to Enlarge Name: gum1.png Size: 33 KB
Thank You
  • #230,146
  • Jun 6, 2010 4:37pm Jun 6, 2010 4:37pm
Quoting Baby-Trader
The GU daily chart pattern assures that 1.40 will be broken this week.
Sooner than later, may be on tuesday.

you mean this.
Attached Image
  • #230,147
  • Jun 6, 2010 4:37pm Jun 6, 2010 4:37pm
Quoting alex1976
when the prices opens down, what is the best thing to do? wait for the retracement?
will most of the time the gap will close unless it gos below the low
20 pip then it might continue the trend
  • #230,148
  • Jun 6, 2010 4:39pm Jun 6, 2010 4:39pm
Quoting wormboy
no, take the money & run

take what money and run?

Im looking to get into a short, Im not in one yet!
  • #230,149
  • Jun 6, 2010 4:43pm Jun 6, 2010 4:43pm
Quoting malcolmb14
s and p and fib expansions on daily .... 1-2-3 sell formation , bounced off 78.6 to form bear flag , breaking bear flag in coming week with target 161.8 at 916.

this may take gu down to 1.3680 seen in 2001


Attachment
That makes my 1.3650 target look even better! Thanks for the analysis.
Every time you use 'hopium' in a post, God kills a kitten.
  • #230,150
  • Jun 6, 2010 4:46pm Jun 6, 2010 4:46pm
Quoting alex1976
you mean this.
No mate,
I mean this.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 18 KB
  • #230,151
  • Jun 6, 2010 4:49pm Jun 6, 2010 4:49pm
Quoting Baby-Trader
No mate,
I mean this.

same chart. lol

just some different lines, but both illustrate the breakdown of the flag!lol
  • #230,152
  • Jun 6, 2010 4:49pm Jun 6, 2010 4:49pm
Quoting Baby-Trader
Guys,
Be careful , if 1.42 broken we will see 1.35 faster than you can imagin.
the problem is what will happen if that 1.35 didn't hold.
See the chart.
again,
look at the chart in it.
  • #230,153
  • Jun 6, 2010 4:55pm Jun 6, 2010 4:55pm
Quoting Baby-Trader
The GU daily chart pattern assures that 1.40 will be broken this week.
Sooner than later, may be on tuesday.
I agree 100% this week gu 1.4250 then 1.4000 / 1.3900
Blogging daily now at www.volume.zone
  • #230,154
  • Jun 6, 2010 4:55pm Jun 6, 2010 4:55pm
Pending Short @1.4525 just 10 pips below the Daily Pivot.
SL 1.4620
TP : Open for now
  • #230,155
  • Jun 6, 2010 4:58pm Jun 6, 2010 4:58pm
Quoting alex1976
same chart. lol

just some different lines, but both illustrate the breakdown of the flag!lol
coupled with bear flag s and p and dj and ftse on major support being tested form upside
Blogging daily now at www.volume.zone
  • #230,156
  • Jun 6, 2010 4:59pm Jun 6, 2010 4:59pm
Quoting Baby-Trader
Pending Short @1.4525 just 10 pips below the Daily Pivot.
SL 1.4620
TP : Open for now
i like the SL BT

me sell the dam rallies cash in enjoy the ride
  • #230,157
  • Jun 6, 2010 5:01pm Jun 6, 2010 5:01pm
Quoting Baby-Trader
. I only need to tell you something.
one day when I sleeping I saw a dream. a very painful dream.
I entered Long @---- can't remeber. and the price went down like a rocket to 1.41 and my account has been blowed.

believe me I saw that dream.
Mal,
Did you read this post ever before.?
this was on 31 Dec 2009
  • #230,158
  • Jun 6, 2010 5:02pm Jun 6, 2010 5:02pm
Quoting malcolmb14
I agree 100% this week gu 1.4250 then 1.4000 / 1.3900

price action is indicating that as the probable price target within this week.
  • #230,159
  • Jun 6, 2010 5:05pm Jun 6, 2010 5:05pm
Quoting kill56
i like the SL BT

me sell the dam rallies cash in enjoy the ride
hope that order be filled
  • #230,160
  • Jun 6, 2010 5:07pm Jun 6, 2010 5:07pm
Hey Cable update crew,
Nice gap downski on cable and euro, also aussie (not as violent)
My tp was hit on cable and I took a long for gap close then will look for short opps.

I like to keep an eye on Aussie especially during open.
Gap closed already.
Wish everyone a prosperous trading week.
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