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Cable Update (GBPUSD)

  • #246,241
  • Aug 17, 2010 8:55am Aug 17, 2010 8:55am
Quoting kuroro001
Looks like gu wants to go down...battle between bears and bulls at this level
at these level...looks like the bear have won but still no confirmation yet (until H4 candle closes...like another 3 more hours)....except it closes above 1.5640...then maybe it's a bull game or once again a tug of war.....
  • #246,242
  • Aug 17, 2010 8:57am Aug 17, 2010 8:57am
Quoting GlobalMacro
price broke out of the M30 descending wedge last week and retested the confluence support lines

the bearish momentum is clearly subsiding

I've got a long position in place at 1.5563
The anticipated bullish acceleration failed to set in
Price now re-entering the broken down trendline and gravitating towards the former floor at 1.5562,

I am exiting the long position here at 1.5615 for a profit of +ve 52 pips

My Position Is Now FLAT.
Attached Image (click to enlarge)
Click to Enlarge Name: M30.gif Size: 10 KB
Hear the music before the song is over ...
  • #246,243
  • Aug 17, 2010 9:01am Aug 17, 2010 9:01am
it's not just people's positions that are flat.
  • #246,244
  • Aug 17, 2010 9:02am Aug 17, 2010 9:02am
Quoting kuroro001
Looks like gu wants to go down...battle between bears and bulls at this level
at this point i don't know nor do i care.
  • #246,245
  • Aug 17, 2010 9:08am Aug 17, 2010 9:08am
Playing out nicely.
Hourly resistance....H4 target zone.

Current channel support, a break below here will hopefully see a shot into my current targeted short zone.

http://www.forexfactory.com/showpost...stcount=246056
Attached Image (click to enlarge)
Click to Enlarge Name: h4tar.jpg Size: 89 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #246,246
  • Aug 17, 2010 9:13am Aug 17, 2010 9:13am
checkmate
Attached Image
  • #246,247
  • Aug 17, 2010 9:32am Aug 17, 2010 9:32am
S1 target hit. Don't care what happens next. Bye! Happy Trading!
  • #246,248
  • Aug 17, 2010 9:34am Aug 17, 2010 9:34am
S&P 500 holding its ground.... GBP looks like she wont break support after all.
  • #246,249
  • Aug 17, 2010 9:34am Aug 17, 2010 9:34am
1.5531 here we come...............
  • #246,250
  • Aug 17, 2010 9:39am Aug 17, 2010 9:39am
not sure
Attached Image
  • #246,251
  • Aug 17, 2010 9:41am Aug 17, 2010 9:41am
Quoting joemiami
S&P 500 holding its ground.... GBP looks like she wont break support after all.
Course she will, she's on a downer this afternoon
  • #246,252
  • Aug 17, 2010 9:43am Aug 17, 2010 9:43am
Long from 5570.....the bulls are coming !! anybody got a red cape?
  • #246,253
  • Aug 17, 2010 9:45am Aug 17, 2010 9:45am
Quoting forexlion
I thought you would know swahili

Ek is jammer.
LOL lion swahili, now not tht i am a african lang fundi but haha, pretty sure its not even a south african lang.
  • #246,254
  • Aug 17, 2010 9:46am Aug 17, 2010 9:46am
Quoting AdrianHNV
Course she will, she's on a downer this afternoon

Looks down from here, and being short, I am not complaining.

Just hope that this is the start of the LONG way down to around 1.4200. What a ride that would be
  • #246,255
  • Aug 17, 2010 9:46am Aug 17, 2010 9:46am
Quoting joemiami
Long from 5570.....the bulls are coming !!
what makes you think that?
Enter Signature
  • #246,256
  • Aug 17, 2010 9:47am Aug 17, 2010 9:47am
Quoting AdrianHNV
Course she will, she's on a downer this afternoon
yeah, an absolute downer.
Enter Signature
  • #246,257
  • Aug 17, 2010 9:48am Aug 17, 2010 9:48am
Momentum is still on bear's favor... Too much risks involved to go long at this point, I think it is better to trade the market following its trend today...
If I'm not mistaken, key point will be at level 1.55200, should it breach the level, I can safely assume the bear rule, otherwise, if the pair can manage to go to level 1.57ish, it will be on bull side.

Sentiment: bearish
Trade now? Maybe... Not going to jump in; not before the retracement is completed...
Target? Nearest one is just about to 1.55200 level
Seat belt? Around 1.56ish

Any comment?
  • #246,258
  • Aug 17, 2010 9:49am Aug 17, 2010 9:49am
steer clear !
Attached Image
  • #246,259
  • Aug 17, 2010 9:54am Aug 17, 2010 9:54am
135 136 area quite possible on gj and gu it might go to 1.58 area
  • #246,260
  • Aug 17, 2010 10:04am Aug 17, 2010 10:04am
id rather try shorting that 5570, aud gbp s brocken out could put the pound under preassure from a few sides, but u never know eather ways good if you think about it short or long go with the flow
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