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Cable Update (GBPUSD)

  • #260,421
  • Oct 13, 2010 11:38pm Oct 13, 2010 11:38pm
Quoting chazzle
thanks Navin - won't let it go much beyond 16018 worse case scenario
magix will know more on this than me but i believe it bounced around 61.8 and fib projection is indicating 1.61
Attached Image (click to enlarge)
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  • #260,422
  • Oct 13, 2010 11:38pm Oct 13, 2010 11:38pm
Quoting chazzle
thanks Navin - won't let it go much beyond 16018 worse case scenario
yOU ARE NOT TRADING A REAL ACCOUNT ARE YOU. I KNOW YOU WOULD CLOSED YOUR ORDER ASAP?!!
  • #260,423
  • Oct 13, 2010 11:39pm Oct 13, 2010 11:39pm
dont see any reason to short except there is huge gap on USDX...
hate to make any trade when I wake up and prices are on R2, R3(fiber)...
totally agree with Navin, cable and fiber wants to go up... now standing aside, only longs are for me an option so I have to wait for some pullback...

good luck trading to all

EDIT:
for me shorting below 1,6 is not an option, because it is round number and cable simple will go to 1,6 or more...
  • #260,424
  • Oct 13, 2010 11:41pm Oct 13, 2010 11:41pm
Good morning all,

well, the US-QE2 threats are certainly working, I'm not going to long this pair anymore and patiently wait at what highs it wants to bring us.
On the psycho level it would be nice to see a level where everyone (well almost) acknowledges the trend can only be up.
A brake of 1.60 and a level i saw mentioned here like 1.628 could do it.
Wherever it is, I am planning long term shorts.
Good luck everyone...
Don't be a hero. Don't have an ego. Always question yourself
  • #260,425
  • Oct 13, 2010 11:43pm Oct 13, 2010 11:43pm
Quoting USD-Bear
Good morning all,

well, the US-QE2 threats are certainly working, I'm not going to long this pair anymore and patiently wait at what highs it wants to bring us.
On the psycho level it would be nice to see a level where everyone (well almost) acknowledges the trend can only be up.
A brake of 1.60 and a level i saw mentioned here like 1.628 could do it.
Wherever it is, I am planning long term shorts.
Good luck everyone...
I am with you ...this thing makes a high and retraces quite significantly there hasn't been any retracement after that nice move up. we should expect one and then retest or go higher
  • #260,426
  • Oct 13, 2010 11:46pm Oct 13, 2010 11:46pm
Quoting USD-Bear
Good morning all,

well, the US-QE2 threats are certainly working, I'm not going to long this pair anymore and patiently wait at what highs it wants to bring us.
On the psycho level it would be nice to see a level where everyone (well almost) acknowledges the trend can only be up.
A brake of 1.60 and a level i saw mentioned here like 1.628 could do it.
Wherever it is, I am planning long term shorts.
Good luck everyone...

1.63 long term short may work..otherwise it will lead to keep going up..assuming 1.60 can hold as support
  • #260,427
  • Oct 13, 2010 11:47pm Oct 13, 2010 11:47pm
Quoting scurt
dont see any reason to short except there is huge gap on USDX...
hate to make any trade when I wake up and prices are on R2, R3(fiber)...
totally agree with Navin, cable and fiber wants to go up... now standing aside, only longs are for me an option so I have to wait for some pullback...

good luck trading to all
This is my opinion, but I have found the worst thing to do is wait for pullbacks. If they happen, great, but there's never a perfect time to enter a trade.

If you think we're trending higher, enter a small long trade and give it a little bteathing room. If we pull back, average in a little. If we go up you're already in profit and can add if you want.

The ONLY time this strategy will not work is if the trend direction changes....
  • #260,428
  • Oct 13, 2010 11:47pm Oct 13, 2010 11:47pm
agree for long term shorts... but not yet untill I get decent confirmation of trend changing... looking forward to short cable, fiber, and kangaroo but not yet... I already pick up nice car to buy... but still waiting...
but nAVIN has a point with H&S so it will not be surprise if cable will go to 1,67

Quoting USD-Bear
Good morning all,

well, the US-QE2 threats are certainly working, I'm not going to long this pair anymore and patiently wait at what highs it wants to bring us.
On the psycho level it would be nice to see a level where everyone (well almost) acknowledges the trend can only be up.
A brake of 1.60 and a level i saw mentioned here like 1.628 could do it.
Wherever it is, I am planning long term shorts.
Good luck everyone...
  • #260,429
  • Oct 13, 2010 11:48pm Oct 13, 2010 11:48pm


like this bro navin ? http://www.forexfactory.com/showpost...stcount=259859


rgds,iqyu

http://www.forexfactory.com/showpost...&postcount=785

Quoting nAVIN2007
morning folks..2 days ago i had an operation for hernia repair..still in position hopefully i can recover soon

i feel better today hence the post

inverse type shampoo..neckline tested and produced huge buying, good luck all ..
not euphoria follower
  • #260,430
  • Oct 13, 2010 11:49pm Oct 13, 2010 11:49pm
Quote
EDIT:
for me shorting below 1,6 is not an option, because it is round number and cable simple will go to 1,6 or more...

this is a sign of a good trader.. u only have this thinking after several years of trading..very wise sound advise
  • #260,431
  • Oct 13, 2010 11:49pm Oct 13, 2010 11:49pm
Thank you very much for your words mate!

Quoting nAVIN2007
this is a sign of a good trader..http://cdn.forexfactory.com/images/s...m/applause.gif u only have this thinking after several years of trading..very wise sound advisehttp://cdn.forexfactory.com/images/s...m/thumbsup.gif

thank you for this post

Quoting ukdaytrader
This is my opinion, but I have found the worst thing to do is wait for pullbacks. If they happen, great, but there's never a perfect time to enter a trade.

If you think we're trending higher, enter a small long trade and give it a little bteathing room. If we pull back, average in a little. If we go up you're already in profit and can add if you want.

The ONLY time this strategy will not work is if the trend direction changes....
  • #260,432
  • Oct 13, 2010 11:50pm Oct 13, 2010 11:50pm
Quoting Pipwanderer
yOU ARE NOT TRADING A REAL ACCOUNT ARE YOU. I KNOW YOU WOULD CLOSED YOUR ORDER ASAP?!!
So what you are saying then is there isn't a person in the world shorting at this position ??

If that were the case we would have rocketed up.

1.60 is a strong level and to break it and stay above it I don't believe is that easy at the moment.

I see the LO pushing into the 1.60 getting lots on board and then dropping !!

but as we all know, I am new, I am on a demo account and accept that my knowledge is limited.

Good luck to all ( except those going long )
  • #260,433
  • Oct 13, 2010 11:50pm Oct 13, 2010 11:50pm
I hope it will move up 10 more pips.
  • #260,434
  • Oct 13, 2010 11:50pm Oct 13, 2010 11:50pm
Quoting iqyu5an


like this bro navin ? http://www.forexfactory.com/showpost...stcount=259859


rgds,iqyu

http://www.forexfactory.com/showpost...&postcount=785
yup u spotted it brother!!
  • #260,435
  • Oct 13, 2010 11:52pm Oct 13, 2010 11:52pm
i learn from u how to see longterm view bro....

thank you

rgds,iqyu
http://www.forexfactory.com/showpost...&postcount=785

Quoting nAVIN2007
yup u spotted it brother!!
not euphoria follower
  • #260,436
  • Oct 13, 2010 11:54pm Oct 13, 2010 11:54pm
Quoting Dayboy001
So what you are saying then is there isn't a person in the world shorting at this position ??

If that were the case we would have rocketed up.

1.60 is a strong level and to break it and stay above it I don't believe is that easy at the moment.

I see the LO pushing into the 1.60 getting lots on board and then dropping !!

but as we all know, I am new, I am on a demo account and accept that my knowledge is limited.

Good luck to all ( except those going long )
No offense but just sell stops may be but not right now anything can happen..we just have to wait for a clear confirmation and besides it is just tokyo london is yet to open and nymore. strong resistance at the moment .. i like confirmations that all. each and their won style of trading
  • #260,437
  • Oct 13, 2010 11:58pm Oct 13, 2010 11:58pm
Quoting scurt
agree for long term shorts... but not yet untill I get decent confirmation of trend changing... looking forward to short cable, fiber, and kangaroo but not yet... I already pick up nice car to buy... but still waiting...
but nAVIN has a point with H&S so it will not be surprise if cable will go to 1,67

do u see a range just being entered, i only said 1.63 cause of a monthly formation trendline is inline with 1.63 and that could be viewed as a bearish flag type formation..i probably will try a short around there just incase depending on PA on dailly at least indicating bearish bias..

fundamentals take time to show there cards and in any event the technicals will line up with fundamental views..nothing to concerned with right now
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  • #260,438
  • Oct 13, 2010 11:59pm Oct 13, 2010 11:59pm
Quoting scurt
agree for long term shorts... but not yet untill I get decent confirmation of trend changing... looking forward to short cable, fiber, and kangaroo but not yet... I already pick up nice car to buy... but still waiting...
but nAVIN has a point with H&S so it will not be surprise if cable will go to 1,67
The higher the better
Don't be a hero. Don't have an ego. Always question yourself
  • #260,439
  • Oct 14, 2010 12:00am Oct 14, 2010 12:00am
Cable just took off..damn....longs are very happy now all other like me waiting to get in when it is way cheaper..
Good Luck Traders
  • #260,440
  • Oct 14, 2010 12:00am Oct 14, 2010 12:00am
Quoting iqyu5an
i learn from u how to see longterm view bro....

thank you

rgds,iqyu
http://www.forexfactory.com/showpost...&postcount=785
thank u
i still have so much to learn and always pick up something from yur charts
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