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Cable Update (GBPUSD)

  • #267,081
  • Edited 7:56am Dec 21, 2010 7:48am | Edited 7:56am
thanks for pointing out the DX , Red - could be head and shouldering ( my fav pattern at the moment it seems lol ) but I'm short GU so obviously looking for a bit of support at 8070
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  • #267,082
  • Dec 21, 2010 7:49am Dec 21, 2010 7:49am
Quoting Magix
Resistance line at daily roll here, 5m 200EMA...

Strong bullish move, might just crush on threw...
Thanks M , convincing break of 15540 area and my short-term bearish bias is dissolved
  • #267,083
  • Dec 21, 2010 7:52am Dec 21, 2010 7:52am
Quoting chazzle
Gonna try and take this back down ... not all by myself , obviously
gonna BE actually , and protect the 60 or so I got in last 24hrs
  • #267,084
  • Dec 21, 2010 8:12am Dec 21, 2010 8:12am
Target 1.5576
let us wait and see
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  • #267,085
  • Dec 21, 2010 8:13am Dec 21, 2010 8:13am
Quoting chazzle
Thanks M , convincing break of 15540 area and my short-term bearish bias is dissolved
Soon. hope to reach 5570-5640

Nice trade Mr.Chaz
  • #267,086
  • Dec 21, 2010 8:17am Dec 21, 2010 8:17am
Quoting gsantri
Soon. hope to reach 5570-5640

Nice trade Mr.Chaz
Thanks ... my med-term bearish bias is intact below 15710 (check my daily chart for res. levels)
  • #267,087
  • Dec 21, 2010 8:21am Dec 21, 2010 8:21am
Resistance at 5m and daily roll seems to be a tuff nut to crack...

S/R zones...
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #267,088
  • Dec 21, 2010 8:25am Dec 21, 2010 8:25am
Quoting Magix
Resistance line at daily roll here, 5m 200EMA...

Strong bullish move, might just crush on threw...
Indeed, and not very correlated with EU or even DX now, she stay there lol
  • #267,089
  • Dec 21, 2010 8:33am Dec 21, 2010 8:33am
well,I guess it will take a while to jump that level as it has to come down a bit first before it can charge again.
this 1.5540 level will be probably broken 10 min to the london closure....if it brakes the 1.5517 pivot by then
  • #267,090
  • Dec 21, 2010 8:47am Dec 21, 2010 8:47am
Price in descending triangle right now on M15 , 50% above , EMA200 above , static resistance 15540 above , DX finding support @ 8070 = bears still in control ..
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  • #267,091
  • Dec 21, 2010 8:53am Dec 21, 2010 8:53am
taking a short scalp based on this ... break of the triangle to the upside and I'm covering so sl is pretty tight
  • #267,092
  • Dec 21, 2010 9:08am Dec 21, 2010 9:08am
Quoting chazzle
taking a short scalp based on this ... break of the triangle to the upside and I'm covering so sl is pretty tight
Well - the triangle broke in my favour and I'm out here for 15 and shutting up shop -
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  • #267,093
  • Dec 21, 2010 9:11am Dec 21, 2010 9:11am
Quoting chazzle
Price in descending triangle right now on M15 , 50% above , EMA200 above , static resistance 15540 above , DX finding support @ 8070 = bears still in control ..
That' a flag, Don't you think?
  • #267,094
  • Dec 21, 2010 9:16am Dec 21, 2010 9:16am
Quoting Togu
That' a flag, Don't you think?
Hi Togu , tbh just getting my head around different patterns at the moment and no expert - I looked at investopedia to make sure what I thought was right was , well er ,right
Looks more like a flag now it broke out of the DT to the downside , is that what you mean?
http://stockcharts.com/help/doku.php...ding_triangle_
  • #267,095
  • Dec 21, 2010 9:18am Dec 21, 2010 9:18am
From resistance, right down to support on the 5m...
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #267,096
  • Dec 21, 2010 9:26am Dec 21, 2010 9:26am
Quoting chazzle
Hi Togu , tbh just getting my head around different patterns at the moment and no expert - I looked at investopedia to make sure what I thought was right was , well er ,right
Looks more like a flag now it broke out of the DT to the downside , is that what you mean?
http://stockcharts.com/help/doku.php...ding_triangle_
Well, the flag usually goes with the direction of the major flag pole, but recently I've noticed that it goes the other direction before confirming the actual break out. But nice scalp, i wouldn't taken the short just becuz the historical chart is telling me to short.
  • #267,097
  • Dec 21, 2010 10:59am Dec 21, 2010 10:59am
Sell GU target 80 PIP
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  • #267,098
  • Dec 21, 2010 11:35am Dec 21, 2010 11:35am
Good day to you,

Gonna short to 83.48 SL above the weekly open @ 83.95. Entered @ 83.83 and 83.85.

regards
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  • #267,099
  • Dec 21, 2010 11:58am Dec 21, 2010 11:58am
The 2010 Triennial Survey, showed that the top three most heavily traded bilateral currency pairs were:

EURUSD: 28%
USDJPY: 14%
GBPUSD: 9%

Banks located in the UK accounted for 37% of global foreign exchange market turnover. The United States accounts for 18% and Japan 6%.

55% of the world's foreign exchange currency trading is concentrated in Western Europe.
  • #267,100
  • Dec 21, 2010 1:19pm Dec 21, 2010 1:19pm
bought cable @ 1.54492 stops @ 1.54155
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