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Cable Update (GBPUSD)

  • #264,021
  • Nov 10, 2010 2:47pm Nov 10, 2010 2:47pm
Looks just like a double top right @ 135 !






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  • #264,022
  • Nov 10, 2010 2:58pm Nov 10, 2010 2:58pm
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  • #264,023
  • Nov 10, 2010 3:28pm Nov 10, 2010 3:28pm
I'm short at 1.6129
TP 1.6060
  • #264,024
  • Nov 10, 2010 3:47pm Nov 10, 2010 3:47pm
changed my bias and went long 16117 looking for 16160
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  • #264,025
  • Nov 10, 2010 3:52pm Nov 10, 2010 3:52pm
Quoting chazzle
changed my bias and went long 16117 looking for 16160
why long bias? why that target?
  • #264,026
  • Nov 10, 2010 4:01pm Nov 10, 2010 4:01pm
May test 6020 - 40 zone One more time
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Senior Trader Multi-Account Manager
  • #264,027
  • Nov 10, 2010 4:01pm Nov 10, 2010 4:01pm
Quoting talond
why long bias? why that target?
looking for that line as support TP conservative,below yesterdays high and around the resistance level of the day before (uk time) price been hanging around for a few hours now,making a breakout more likely...imo
  • #264,028
  • Nov 10, 2010 4:03pm Nov 10, 2010 4:03pm
also Euro 40 pips away from ema200 M15,which it looks set to test,could give cable some up power
  • #264,029
  • Nov 10, 2010 4:06pm Nov 10, 2010 4:06pm
Quoting chazzle
looking for that line as support TP conservative,below yesterdays high and around the resistance level of the day before (uk time) price been hanging around for a few hours now,making a breakout more likely...imo
thanks, I was wondering what your reasoning was, I see that.
  • #264,030
  • Nov 10, 2010 4:10pm Nov 10, 2010 4:10pm
Quoting chazzle
also Euro 40 pips away from ema200 M15,which it looks set to test,could give cable some up power

Price is always hanging at this time due to Sydney markets are not open yet and tokio opens 1 hour later.
  • #264,031
  • Nov 10, 2010 4:21pm Nov 10, 2010 4:21pm
Hi guys,

all well?
finished some UJ business, now concentrating on GU again
Tricky levels as far as I can see, study some more.....
Don't be a hero. Don't have an ego. Always question yourself
  • #264,032
  • Nov 10, 2010 5:05pm Nov 10, 2010 5:05pm
Quoting Merry
Looks just like a double top right @ 135 !

where's the double top??
htf had produced possible reversal patterns by the looks of it. just a heads up

good luck.
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Thank You
  • #264,033
  • Nov 10, 2010 6:23pm Nov 10, 2010 6:23pm
Pair is holding below the 50fib retrace,also at trendline. Also the dollar is making a clear bottom as far as I can see in the dollar index. Would not be surpriesed to see a drop to around 1.6080 area.
Any thoughts on that? Think its a good trade?
  • #264,034
  • Nov 10, 2010 7:22pm Nov 10, 2010 7:22pm
Quoting Sunsi
Pair is holding below the 50fib retrace,also at trendline. Also the dollar is making a clear bottom as far as I can see in the dollar index. Would not be surpriesed to see a drop to around 1.6080 area.
Any thoughts on that? Think its a good trade?
Yes, now nudging into strong supply levels from the 9th, with likely demand again around 6065-80.
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  • #264,035
  • Nov 10, 2010 10:30pm Nov 10, 2010 10:30pm
It kind of looks like we will see some resistance tomorrow since we are setting at the 61.8 fib mark.

If we break up I don't see much room for it to go. I might set 1.6200 as a target.

If we don't see a break and begin to range 1.6190-1.6120 would be a good range to trade a believe.

If we break down 1.6080 seems to offer a lot of support but if it doesn't show any signs I will probably trade to 1.6030

Just my two cents. Really expecting a range but the market always surprises.
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  • #264,036
  • Nov 10, 2010 10:46pm Nov 10, 2010 10:46pm
good target . 6150 done.

Quoting wormboy
where's the double top??
htf had produced possible reversal patterns by the looks of it. just a heads up

good luck.
  • #264,037
  • Nov 11, 2010 12:02am Nov 11, 2010 12:02am
Quoting maxss280
It kind of looks like we will see some resistance tomorrow since we are setting at the 61.8 fib mark.

If we break up I don't see much room for it to go. I might set 1.6200 as a target.

If we don't see a break and begin to range 1.6190-1.6120 would be a good range to trade a believe.

If we break down 1.6080 seems to offer a lot of support but if it doesn't show any signs I will probably trade to 1.6030

Just my two cents. Really expecting a range but the market always surprises.
Wouldn't be expecting a whole lot going into NY session.

We should see London attempt the daily high, after that, NY and Canucksville are on holidays. Just a thought for ya....
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #264,038
  • Nov 11, 2010 12:14am Nov 11, 2010 12:14am
Looking bearish on daily. and on 1h. Also the USDx is looking strong.
I am shortinh this.
TP: 1.6003 ( Monday low). Hoping to reach it within this day.

What are other traders view on this pair today?
  • #264,039
  • Nov 11, 2010 12:22am Nov 11, 2010 12:22am
Quoting Sunsi
Looking bearish on daily. and on 1h. Also the USDx is looking strong.
I am shortinh this.
TP: 1.6003 ( Monday low). Hoping to reach it within this day.

What are other traders view on this pair today?
I say we still got support on daily roll over which if price kept on the decline would be the same support as the 200EMA on 5m chart. My 15m chart says current short cycle but still long on support.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #264,040
  • Nov 11, 2010 12:25am Nov 11, 2010 12:25am
Doh! Thanks Magix for pointing that out. Missed that.

Quoting Magix
Wouldn't be expecting a whole lot going into NY session.

We should see London attempt the daily high, after that, NY and Canucksville are on holidays. Just a thought for ya....
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