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Cable Update (GBPUSD)

  • #260,501
  • Oct 14, 2010 5:41am Oct 14, 2010 5:41am
Quoting AdrianHNV
I believe the price will drop down from now until around 1.30pm as there are quite a few 'Important Updates' at 1.30pm

http://www.forexfactory.com/calendar.php

Even though the 1.60 barrier needs to be successfully broken through first

That is if the 'BIG BOYS' think the Update news will be bad,,,,,,if not it will stay trending between here and the top!!!!
THAT IS VERY TRUE I AM HOLDING MY POSITIONS TO BEFORE THE NEWS THAT IS IF YOU STILL GOES DOWN..BUT I ANTICIPATE THE NEWS WILL BE BAD SO THAT WILL BE GOOD FOR THE REVERSAL..
  • #260,502
  • Oct 14, 2010 6:31am Oct 14, 2010 6:31am
Price has respected and bounced down very nicely at the weekly R1 at 1.6066. I think that the daily R2 level at 1.5990 will act as support until the US news release and we will then either head back down below 1.6 towards 1.5940 (daily R1) and 1.5907 (weekly pivot) or up over the 1.6066 level towards 1.61 and 1.6174.
Today's zone = Tomorrow's opportunity!
  • #260,503
  • Oct 14, 2010 7:05am Oct 14, 2010 7:05am
Excellent Classical Frankie Fake from USD.. Surely would have caught a few out
  • #260,504
  • Oct 14, 2010 7:11am Oct 14, 2010 7:11am
price stuck on daily 127% fibonacci 1.6022
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  • #260,505
  • Oct 14, 2010 7:43am Oct 14, 2010 7:43am
Risk off cable going down?
  • #260,506
  • Oct 14, 2010 7:47am Oct 14, 2010 7:47am
imo if we manage to hold current levels - the next target is 1.63
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 41 KB
  • #260,507
  • Oct 14, 2010 7:49am Oct 14, 2010 7:49am
any suggestions on GU????????????????????
Believe in your thesis and stick to the plan, don't get scared with moves
  • #260,508
  • Oct 14, 2010 7:53am Oct 14, 2010 7:53am
Quoting cannarek
imo if we manage to hold current levels - the next target is 1.63
My thoughts too.

If daily closes above 1.5960 there will be lots of pips upside
Mind over matter..I don't mind and you don't matter.
  • #260,509
  • Oct 14, 2010 7:54am Oct 14, 2010 7:54am
Quoting akash14
any suggestions on GU????????????????????
IF you have to ask, might be a time to sit out of a trade....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #260,510
  • Oct 14, 2010 7:56am Oct 14, 2010 7:56am
Quoting Magix
IF you have to ask, might be a time to sit out of a trade....
oh yeah but even though the usd news came red markets are behaving in a opposite way.wat might be the reason?
Believe in your thesis and stick to the plan, don't get scared with moves
  • #260,511
  • Oct 14, 2010 8:00am Oct 14, 2010 8:00am
Quoting akash14
oh yeah but even though the usd news came red markets are behaving in a opposite way.wat might be the reason?
Price adjustment given the amount of growth overnight.

Support needs to be tested possibly on the 5m chart before moving on.

With the springboard launch during Asian session, there might be a little book covering before we move on, but given the bullish tendency I wouldn't suggest looking at a short, but rather waiting to see if support gets challenged and holds.

What is the reasoning?

The market does, what it wants, when it wants.

Choppy waters doesn't make for pleasant trading.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #260,512
  • Oct 14, 2010 8:03am Oct 14, 2010 8:03am
Waiting for a good support to load long and revenge
  • #260,513
  • Oct 14, 2010 8:06am Oct 14, 2010 8:06am
Me too, but watching carefully fiber, because 55 min till end of 4H candle, and if closes about 4050 that will be bearish candle and drag cable down at least for 20-40 more pips down....

Quoting Pipwanderer
Waiting for a good support to load long and revenge
  • #260,514
  • Edited 8:23am Oct 14, 2010 8:10am | Edited 8:23am
buy at 1.59800 at fibo 50% M15, below support H1 andrew pitchfork
tp 30-50 pips
  • #260,515
  • Oct 14, 2010 8:12am Oct 14, 2010 8:12am
get ready for blastoff in about a few minutes. tp 1.617 in a few hours.
buy now!!!
  • #260,516
  • Oct 14, 2010 8:17am Oct 14, 2010 8:17am
The daily pivot @5859 has not been tested yet.
Thank You
  • #260,517
  • Oct 14, 2010 8:19am Oct 14, 2010 8:19am
USD up, futures down. Risk off. Sell atm.
  • #260,518
  • Oct 14, 2010 8:22am Oct 14, 2010 8:22am
Quoting scurt
Me too, but watching carefully fiber, because 55 min till end of 4H candle, and if closes about 4050 that will be bearish candle and drag cable down at least for 20-40 more pips down....
Looking for a nice support on the hourly Looking to stretch out my bollinger bands and a good support fib 50 or 61.8 from the last low before that huge run up and go long there man .

I need to take this revenge and make my stolen pips back at least
  • #260,519
  • Oct 14, 2010 8:23am Oct 14, 2010 8:23am
Quoting ghuisthefirs
get ready for blastoff in about a few minutes. tp 1.617 in a few hours.
buy now!!!
Coming from the person who said this -

http://www.forexfactory.com/showpost...stcount=217261

People should trade their own charts.
Join My Signal On Telegram at @forextradingforlivingsignal
  • #260,520
  • Oct 14, 2010 8:27am Oct 14, 2010 8:27am
Quoting animedia
Coming from the person who said this -

http://www.forexfactory.com/showpost...stcount=217261

People should trade their own charts.
We are all here to help and get some knowledge and at least learn some lingo technicals fundies whatever..Who is that posting wrong info
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