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Cable Update (GBPUSD)

  • #260,061
  • Oct 12, 2010 10:24am Oct 12, 2010 10:24am
Quoting egkid
BTW i posted my view and we will see this drop and what will happen next before 2 days on other thread.
GL & Trade safe
Hi eg ... good to see you around. i missed your view on today's trading ... care to share it again or point me to where you posted it? I always enjoy reading your perdictions Got me a few quick pips and now flat.

Thanks in advance and GOOD LUCK my friend!
  • #260,062
  • Oct 12, 2010 10:53am Oct 12, 2010 10:53am
Quoting Gleneagles
I use 2 different custom indicators in one window, I will post a brief guideline next week on a different thread and if there are traders interested, they can experiment and see whether it fits in with their way of trading. It will keep this thread free to focus on broader GBP trading and not clog it up with short term trading which is not everyones cup of tea.
yes, please let us know.. thanks for sharing..!
  • #260,063
  • Oct 12, 2010 11:06am Oct 12, 2010 11:06am
Quoting USD-Bear
Trying the other side, short @ 1.584
SL 159.00
Target 157
Closed short @ 1.5805 USDX doesn't continue its uptrend of last days
leaving me 35-20=mere 15 pips for today
Don't be a hero. Don't have an ego. Always question yourself
  • #260,064
  • Oct 12, 2010 11:11am Oct 12, 2010 11:11am
Took a long at same level 1.5805
Don't be a hero. Don't have an ego. Always question yourself
  • #260,065
  • Edited 11:52am Oct 12, 2010 11:29am | Edited 11:52am
Quoting AllyB
Hi eg ... good to see you around. i missed your view on today's trading ... care to share it again or point me to where you posted it? I always enjoy reading your perdictions Got me a few quick pips and now flat.

Thanks in advance and GOOD LUCK my friend!
We seem to be in a 25 - 26 pip channel. 5807 to 5780 ... time to go long

Don't feel right so closed with +5 pips.
  • #260,066
  • Oct 12, 2010 11:52am Oct 12, 2010 11:52am
Quoting AllyB
We seem to be in a 25 - 26 pip channel. 5807 to 5780 ... time to go long
Erratic day eratic trades, we are some 100 pips lagging EU with USDX dropping you would expect some strength....
Don't be a hero. Don't have an ego. Always question yourself
  • #260,067
  • Oct 12, 2010 11:57am Oct 12, 2010 11:57am
Quoting USD-Bear
Erratic day eratic trades, we are some 100 pips lagging EU with USDX dropping you would expect some strength....
I know ... and when it stalled i closed out with +5. I don't think anyone wants to buy the pound or the dollar
  • #260,068
  • Oct 12, 2010 12:15pm Oct 12, 2010 12:15pm
shalll buy or not
  • #260,069
  • Oct 12, 2010 12:17pm Oct 12, 2010 12:17pm
Quoting raasmasud
shalll buy or not

Pipchick earlier mentioned a 1.27 fib target of 15758. Can be heading that way.
  • #260,070
  • Oct 12, 2010 12:33pm Oct 12, 2010 12:33pm
Quoting USD-Bear
Took a long at same level 1.5805
hello USD-Bear!

may i know why you taking long at those level? I mean are there any other reason beside the USD index losing his upward momentum..
  • #260,071
  • Oct 12, 2010 12:36pm Oct 12, 2010 12:36pm
well one good reason to take a long is that the pricw is curently moving in between s2 and s3 . so its more likely to go up if the fomc meeting works out the other way then
  • #260,072
  • Oct 12, 2010 12:45pm Oct 12, 2010 12:45pm
Quoting raasmasud
well one good reason to take a long is that the pricw is curently moving in between s2 and s3 . so its more likely to go up if the fomc meeting works out the other way then
could go to lower S3 also waiting for FOMC before any trade...strategy is simple buy on rumor sell on news good luck

Ub
  • #260,073
  • Oct 12, 2010 12:48pm Oct 12, 2010 12:48pm
well wat do u
mean by sell on news and buy on rumor ????
  • #260,074
  • Oct 12, 2010 12:51pm Oct 12, 2010 12:51pm
Quoting ubaidahsan
could go to lower S3 also waiting for FOMC before any trade...strategy is simple buy on rumor sell on news good luck

Ub
your're 100% right.
  • #260,075
  • Oct 12, 2010 12:52pm Oct 12, 2010 12:52pm
Even in a forex world of crazy volatility,
C-patterns are alive and well and running.

Dr. D.
Attached Image
  • #260,076
  • Oct 12, 2010 1:01pm Oct 12, 2010 1:01pm
Quoting plumiash
hello USD-Bear!

may i know why you taking long at those level? I mean are there any other reason beside the USD index losing his upward momentum..
hi plumiash,
besides USDX there are 2:
1. stupidity like expecting something and not waiting for confirmations
2. the double bottoms @ 1.5780
Don't be a hero. Don't have an ego. Always question yourself
  • #260,077
  • Oct 12, 2010 1:08pm Oct 12, 2010 1:08pm
First target met, 5758. That dished out some nice pippies. Now lets see if the AB=CD pattern will complete at "D"...5731. A lot of times, the FE 78.6 is as far as she gets before a retracement.
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  • #260,078
  • Oct 12, 2010 1:10pm Oct 12, 2010 1:10pm
Its probably best not to be in any scalps or short term trades today around 5:30 pm EST.
  • #260,079
  • Oct 12, 2010 1:10pm Oct 12, 2010 1:10pm
Quoting USD-Bear
hi plumiash,
besides USDX there are 2:
1. stupidity like expecting something and not waiting for confirmations
2. the double bottoms @ 1.5780
aha! nice then.. i love the first reason though..

nice trade then UB!
  • #260,080
  • Oct 12, 2010 1:12pm Oct 12, 2010 1:12pm
Quoting PipChick
Its probably best not to be in any scalps or short term trades today around 5:30 pm EST.
What happens at that time?
Today's zone = Tomorrow's opportunity!
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