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Cable Update (GBPUSD)

  • #233,481
  • Jun 23, 2010 6:09pm Jun 23, 2010 6:09pm
On the daily, I see a strong uptrend.

But I expect there to be a lot of fight on the way up.

That said, I'm newer to Cable and just going off what I see fundamentally and technically (I think).

My biggest concern looking forward to next week is trend exhaustion. Cable has pushed higher, but there's been sort of a "perfect storm" this week for it to do so. Will it tire and suffer a pullback?
Only expectation matters . . .
  • #233,482
  • Jun 23, 2010 6:10pm Jun 23, 2010 6:10pm
Children's vision..
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  • #233,483
  • Jun 23, 2010 6:55pm Jun 23, 2010 6:55pm
Quoting fxoxford
whats wrong with this picture.
Quoting forexlion
problem is that cable is not yet ready for a reasonable fall

scalping is a different matter, but this won't do 100 pip moves as yet
Quoting forexlion
by the way

 

  1. my trade plan is to hold longs till 1.50, possibly 1.5050
  2. then short heavily to 1.4230

slow n steady we move to 1.5030 MAJOR bounce level

http://img84.imageshack.us/img84/3589/33951312.gif
  • #233,484
  • Jun 23, 2010 7:08pm Jun 23, 2010 7:08pm
low risk trade for a decent opportunity
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  • #233,485
  • Jun 23, 2010 7:21pm Jun 23, 2010 7:21pm
Quoting RebelRed
On the daily, I see a strong uptrend.

But I expect there to be a lot of fight on the way up.

That said, I'm newer to Cable and just going off what I see fundamentally and technically (I think).

My biggest concern looking forward to next week is trend exhaustion. Cable has pushed higher, but there's been sort of a "perfect storm" this week for it to do so. Will it tire and suffer a pullback?
Just as an example of how GBP plays with the 200s, even on the dailies....

This is the Dragon chart, the yellow line that wouldn't hold and close above is the 200EMA on the daily. Throw one of these lines on your chart, if nothing else, it is another line of perspective and direction.

Fundamentally speaking....well, some do well off this angle, personally, I have never found my opinion of world events to be as relevant as price action on the charts...maybe, I am just not all that great at it...
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #233,486
  • Jun 23, 2010 7:55pm Jun 23, 2010 7:55pm
Is this going to be the last push before we begin wave 5 or a dip down and then another new high next week before reversing. any thoughts plz
  • #233,487
  • Jun 23, 2010 7:56pm Jun 23, 2010 7:56pm
My .2C #1286
  • #233,488
  • Jun 23, 2010 8:08pm Jun 23, 2010 8:08pm
Next station 1.51300 probably is high

http://a.imagehost.org/0759/analygu.jpg
study of behavior and mind,conscious and unconscious
  • #233,489
  • Jun 23, 2010 9:55pm Jun 23, 2010 9:55pm
Quoting USD-Bear
Placed limit for both @ 1.499 and going to sleep. Goodnight everyone....
Reached, out for + 140
Don't be a hero. Don't have an ego. Always question yourself
  • #233,490
  • Jun 23, 2010 10:00pm Jun 23, 2010 10:00pm
Quoting sclpzmalay
Next station 1.51300 probably is high

http://a.imagehost.org/0759/analygu.jpg
Wow very colorful chart...lmao
  • #233,491
  • Jun 23, 2010 10:07pm Jun 23, 2010 10:07pm
I'm short on gbp/usd, looking for 25 pips or so as usual.
  • #233,492
  • Jun 23, 2010 10:26pm Jun 23, 2010 10:26pm
long 149.80 tp: 152 sl: 149
  • #233,493
  • Jun 23, 2010 10:39pm Jun 23, 2010 10:39pm
I presume cable high for the week to be 1.5016
Cable is making her way back up to 1.6100 in July, so to I expect London to push down to 4918, where i'll buy, then wait for US to open and reach the high 5016.
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  • #233,494
  • Jun 23, 2010 10:45pm Jun 23, 2010 10:45pm
Quoting Forextrader4
I'm short on gbp/usd, looking for 25 pips or so as usual.
Quoting Magix
Possible pb zone from current to 1.4993....going off resistance and fractal movements. Not saying sell...just seen the area on the chart.
Took 36 total on 2 combined shorts....

Meh.....

Nice trading!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #233,495
  • Jun 23, 2010 10:51pm Jun 23, 2010 10:51pm
Quoting Magix
Took 36 total on 2 combined shorts....

Meh.....

Nice trading!
Yea it was a nice move
  • #233,496
  • Jun 23, 2010 10:59pm Jun 23, 2010 10:59pm
Quoting Forextrader4
Yea it was a nice move
I will consider a little more if we close below area on chart...the one target zone I missed marking earlier...Daily open.

Seen that my dragon shorts hit the 15m 200 and took em out there, EJ, EU closed out same time.


Theres more room to play today!
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #233,497
  • Jun 23, 2010 11:00pm Jun 23, 2010 11:00pm
i think we ae abou to star diggin now.
+17 already. am short.
  • #233,498
  • Jun 23, 2010 11:07pm Jun 23, 2010 11:07pm
Quoting mcmartins
i think we ae abou to star diggin now.
+17 already. am short.
Just be careful because the trend is not solid down yet. Make sure you manage your trade closely at least until the pair is clear.
  • #233,499
  • Jun 23, 2010 11:17pm Jun 23, 2010 11:17pm
too kind of you...
thanks..

Quoting Forextrader4
Just be careful because the trend is not solid down yet. Make sure you manage your trade closely at least until the pair is clear.
  • #233,500
  • Jun 23, 2010 11:26pm Jun 23, 2010 11:26pm
1.4940 (previous top) or 1.4910 (DPP) could be levels to re-enter longs.
Not playing the retrace though....

M15:

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Don't be a hero. Don't have an ego. Always question yourself
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