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Cable Update (GBPUSD)

  • #275,061
  • Mar 30, 2011 9:31pm Mar 30, 2011 9:31pm
Quoting pipmix
Been in this ride since 1.60501 up quite a few pips and looking at some consolidation on the M5. ( currently 1.61029). Should I take my stash and run or stay on this ride? My trendlines and fibs are really not helping me at the moment althought they are what got me into this profitable mess in the first place.
Good day to you,

It has never hurt to bank your profits. Only you can decide. We may drop back a bit from the current levels (1.6108), as we are at a possible extreme ( on MY chart).

You are asking one of the most challenging questions we all face. The only certainties are: 1) You are in profit. 2) There will be more opportunities.

Good luck in your decision.

Regards
  • #275,062
  • Mar 30, 2011 9:33pm Mar 30, 2011 9:33pm
Weekly and monthly pivot coming up at 1.6150 area. Looks like it should get there.
  • #275,063
  • Mar 30, 2011 9:43pm Mar 30, 2011 9:43pm
Hi all,
3days waiting gu touch my tp 1.61.now i waiting confirmation for hunting bear.strong resistance on h1 cs 1.6106 ,2nd level 1.6140 but it may go up a bit for bull trap.i sell now n pending sell order 1.6130 1st tp 1.5960 2nd 1.59.reason selling now bcos i have to go work.
-have a nice day n happy trading guys-
patient is my attitude, rushing is a dog
  • #275,064
  • Mar 30, 2011 9:50pm Mar 30, 2011 9:50pm
Quoting PoundTrader
1.6250 is more likely now
im now long 1. 6052 with t/p at 1.6250
  • #275,065
  • Mar 30, 2011 10:22pm Mar 30, 2011 10:22pm
Its start Going Up,The bullish pattern has been formed
  • #275,066
  • Mar 30, 2011 10:27pm Mar 30, 2011 10:27pm
Quoting J.Giordano
Its start Going Up,The bullish pattern has been formed
base on what sir?
patient is my attitude, rushing is a dog
  • #275,067
  • Mar 30, 2011 10:30pm Mar 30, 2011 10:30pm
btw about GU, if you want to have long term trade (i mean really2 long, more than a week, or a month) so this week (and or next week if the bear still not move) is the best time to place the trade...the target down move can't be seen yet even in daily chart.,it could drop so deep..,
daily chart already clear, that's bear...but we have to prepare, this move down is USD will get stronger or collapse...hihihi..cos the the chart almost same between collapse and start to 'take action'...

but one thing that i remember when mr O talk at the parliamentary (last year if i'm not false to remember). he was talking about US condition, and he said that one problem, and the most important thing that US can't handle (that time; i mean last year) is about unemployment...,sure to solve unemployment problem is needed time..it could not be solved with economic policy only,,it need action, and the result of action will be showed by the time passing..

straight to the point, (i'm getting tired typing ) this year unemployment, (atleast this 3 months, the strong indication start from December) us already success to press the unemployment.,better than last year..,so what else??? there is no other reason for USD not to get rise soon..except (this is the important thing to be considered) except US/MrBen/Mr O have a plan to make USD still in 'Low' level... that's really a damn thing...


i'm tired typing...see you, and good luck..


java.
I will be the number one Manager.
  • #275,068
  • Mar 30, 2011 10:33pm Mar 30, 2011 10:33pm
Quoting joop
base on what sir?
Based on my chart mate,But this is forex anything can happen and against you,so always trade with SL

I am long now with TS 55 Pips and SL at 15920
  • #275,069
  • Mar 30, 2011 10:44pm Mar 30, 2011 10:44pm
Quoting J.Giordano
Based on my chart mate,But this is forex anything can happen and against you,so always trade with SL

I am long now with TS 55 Pips and SL at 15920
yups,u rite .see ya mate.have to go work.be back another 12hours.sob sob
patient is my attitude, rushing is a dog
  • #275,070
  • Mar 31, 2011 1:45am Mar 31, 2011 1:45am
Quoting javapips
nice article till finally i heard he say "I am currently Offering A Special Discount on My Price Action Trading Course. To Find out More Visit bla bla bla.. " idiot..,did he really 'able' to make money in forex or not???
lol - Normally his articles don't push his services, so that was a bit of a let down. He trades based on supply and demand on h4 or higher timeframes using reversal patterns as triggers. I am not a student of his nor have I ever signed up to his course, but all the articles he writes, do strike a chord with me. Whether he makes money on Forex is another question.

I am GU bullish again... or more $ bearish, until we hit demand on DIX (74.15-75.00)

I do expect a reaction at 1.6140!
  • #275,071
  • Mar 31, 2011 2:21am Mar 31, 2011 2:21am
Quoting bbakker
lol - Normally his articles don't push his services, so that was a bit of a let down. He trades based on supply and demand on h4 or higher timeframes using reversal patterns as triggers. I am not a student of his nor have I ever signed up to his course, but all the articles he writes, do strike a chord with me. Whether he makes money on Forex is another question.

I am GU bullish again... or more $ bearish, until we hit demand on DIX (74.15-75.00)

I do expect a reaction at 1.6140!
Then what ? where?
Believe what you see instead of what you think!
  • #275,072
  • Mar 31, 2011 2:29am Mar 31, 2011 2:29am
Quoting javapips
straight to the point, (i'm getting tired typing ) this year unemployment, (atleast this 3 months, the strong indication start from December) us already success to press the unemployment.,better than last year..,so what else??? there is no other reason for USD not to get rise soon..except (this is the important thing to be considered) except US/MrBen/Mr O have a plan to make USD still in 'Low' level... that's really a damn thing...
QE3 springs to mind! Only 3 months left of QE2. Rumours of an early finish to QE2 are lingering about, but there are also rumours of starting QE3! Which one to believe?

Anyway, once the FED stop QE, there is only one thing that can happen... S&P 500 will go down and USD will strengthen!
  • #275,073
  • Mar 31, 2011 3:52am Mar 31, 2011 3:52am
Quoting JasmineQu
Then what ? where?
Buy on the pullbacks is a good strategy if one is bullish on a currency pair!
  • #275,074
  • Mar 31, 2011 4:02am Mar 31, 2011 4:02am
Quoting bbakker
Buy on the pullbacks is a good strategy if one is bullish on a currency pair!
Agreed. But I'm still trying to find a good station to get on the running train.
Believe what you see instead of what you think!
  • #275,075
  • Mar 31, 2011 4:26am Mar 31, 2011 4:26am
Quoting JasmineQu
Then what ? where?
PA is showing me that it is struggling to make a higher high... double top? Maybe we need a larger pullback to 1.6070-80 before we continue higher? DIX has also hit demand and EU has hit supply.

I cannot tell you what is going to happen... nobody knows. I can only make assumptions based on price action around demand and supply.
  • #275,076
  • Mar 31, 2011 4:46am Mar 31, 2011 4:46am
1.6150 is at most important level for further bullishness.....break above that level will head to 1.6200
  • #275,077
  • Mar 31, 2011 5:15am Mar 31, 2011 5:15am
already sell from 1.6138, target monthly candle low..
L-H-LH-HH -> B // H-L-HL-LL -> B
  • #275,078
  • Mar 31, 2011 5:25am Mar 31, 2011 5:25am
Quoting bbakker
Buy on the pullbacks is a good strategy if one is bullish on a currency pair!
except you don't know whether it's a pullback or a trend change.
  • #275,079
  • Mar 31, 2011 5:40am Mar 31, 2011 5:40am
Quoting fxvoilaaa
except you don't know whether it's a pullback or a trend change.
Pullback or trend change on which timeframe? m1, m5, m15, m30, h1, h4, d1, w1, mn?
  • #275,080
  • Mar 31, 2011 5:52am Mar 31, 2011 5:52am
Quoting bbakker
Pullback or trend change on which timeframe? m1, m5, m15, m30, h1, h4, d1, w1, mn?
still payin this scenero..but i wont lie, either it went to an extreme and retracing to go higher or like u say trend reverse in line with weekly

dunno which at this point
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