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Cable Update (GBPUSD)

  • #275,141
  • Apr 1, 2011 2:02am Apr 1, 2011 2:02am
Quoting 0rPhioZ
I put my SHORT position 1.6039. It is currently going up but haven't reached my SL. It is still unknown whether it will really go down past .5936 or go up past .6151. Probably we need more players ?
I was long @.6034, TP @.6059, done. Flat at the moment, not seen short setup yet for today.
  • #275,142
  • Apr 1, 2011 2:05am Apr 1, 2011 2:05am
NFP good doenst mean GBP will going down,I am still hold my long with SL 15920...Just a little bit touch then GBPUSD will going higher again...

Keep Watch
  • #275,143
  • Apr 1, 2011 2:17am Apr 1, 2011 2:17am
Quoting 0rPhioZ
I put my SHORT position 1.6039. It is currently going up but haven't reached my SL. It is still unknown whether it will really go down past .5936 or go up past .6151. Probably we need more players ?
Prayers don't work in forex, I think. Anyway, sell @6066, keep watching. I've got a good feeling it will go down to 5880 level. Hope so.
Believe what you see instead of what you think!
  • #275,144
  • Apr 1, 2011 2:29am Apr 1, 2011 2:29am
Quoting J.Giordano
NFP good doenst mean GBP will going down,I am still hold my long with SL 15920...Just a little bit touch then GBPUSD will going higher again...

Keep Watch
  • #275,145
  • Apr 1, 2011 2:29am Apr 1, 2011 2:29am
Quoting JasmineQu
Prayers don't work in forex, I think. Anyway, sell @6066, keep watching. I've got a good feeling it will go down to 5880 level. Hope so.
I think now you are parying to go down
  • #275,146
  • Apr 1, 2011 2:31am Apr 1, 2011 2:31am
oww... Liberty Reserve down..
L-H-LH-HH -> B // H-L-HL-LL -> B
  • #275,147
  • Apr 1, 2011 2:46am Apr 1, 2011 2:46am
Hi,

Well at moment seems like its on a consolidation period to me, but on a upwards trend. however at 9.30 the results for the Manufacturing PMI will be out and forcast is to be above 50 mark but lower than what was previously. i think better to wait till then so see which way it goes? but id say its going to go short.
  • #275,148
  • Apr 1, 2011 2:53am Apr 1, 2011 2:53am
Quoting JasmineQu
Prayers don't work in forex, I think. Anyway, sell @6066, keep watching. I've got a good feeling it will go down to 5880 level. Hope so.
I'm still waiting for the signs, I made mistake with my first short position (too early) so I will wait a bit more before opening other position. It's going down for now, but this is forex so we'll never know when godzilla will do surprise attack on the market.
  • #275,149
  • Apr 1, 2011 3:29am Apr 1, 2011 3:29am
Surprise!

Looks like news got to others befoire the rest of the market.
  • #275,150
  • Apr 1, 2011 3:35am Apr 1, 2011 3:35am
Wow, Manufacturing PMI breaks it down back to .603X. If it manage to go lower below .6019 probably it will go lower. Well, there're still lots of USD news waiting for us.
  • #275,151
  • Apr 1, 2011 3:44am Apr 1, 2011 3:44am
Quoting id5
Surprise!

Looks like news got to others befoire the rest of the market.
yup but it seems like kind of a fake move... i mean for some fast pips. i am going long with a s/l around 30pips below 4h resistance.(the 4h 1d trends looks like going up)
  • #275,152
  • Apr 1, 2011 3:44am Apr 1, 2011 3:44am
if we stay above the 1.6020 level for the next hour next stop will be some 1.62
  • #275,153
  • Apr 1, 2011 3:45am Apr 1, 2011 3:45am
What do you mean fake move? Seems pretty real to me.. ?
  • #275,154
  • Apr 1, 2011 3:46am Apr 1, 2011 3:46am
Quoting redbeben
if we stay above the 1.6020 level for the next hour next stop will be some 1.62
I sort of agree with this but becuase it didn't break, or hasn't yet, yesterday low. I wonder if this afternoons US news is worse?
  • #275,155
  • Edited 3:57am Apr 1, 2011 3:47am | Edited 3:57am
still short...

Sell again @ 1.6043
Attached Image (click to enlarge)
Click to Enlarge Name: pamer.JPG Size: 70 KB
L-H-LH-HH -> B // H-L-HL-LL -> B
  • #275,156
  • Apr 1, 2011 3:47am Apr 1, 2011 3:47am
I'm Long 20lots+20lots @ 1.6040 SL-1.5949 TP-Open
To Your Success!!
  • #275,157
  • Apr 1, 2011 3:49am Apr 1, 2011 3:49am
I'm fairly new to forex trading, so I'm going to ask a question to which the answer may be obvious.. Why would the price go up again to 62, when the drop just now was caused by the GBP PMI numbers.. if the numbers are bad and it causes a drop to where we are right now, why would price go up immidiately after? Wouldn't that make the PMI numbers not have any effect.. :S ?
  • #275,158
  • Apr 1, 2011 3:55am Apr 1, 2011 3:55am
Quoting Mautje
What do you mean fake move? Seems pretty real to me.. ?
well i dont think it is going to go down further. big players know the news beforehand(at least in this case) so they enter the direction of the news earlier and when you enter late it is already the time when the direction of the market is changing - you are selling bottoms.

well ofc i`m not exactly sure what is going to happen and if i`m wrong i`m gonna lose 40pips, else i will probably make more so i`m willing to take my chances.
  • #275,159
  • Apr 1, 2011 4:02am Apr 1, 2011 4:02am
Quoting feralnature
well i dont think it is going to go down further. big players know the news beforehand(at least in this case) so they enter the direction of the news earlier and when you enter late it is already the time when the direction of the market is changing - you are selling bottoms.

well ofc i`m not exactly sure what is going to happen and if i`m wrong i`m gonna lose 40pips, else i will probably make more so i`m willing to take my chances.
I think of another possible scenario, suppose that the sharks are trying to gap down the price to have more people selling then it will probably go down further. Well, I think we need to see USD news before find out about the condition clearly. I'm prepared to close my SHORT suppose that there are no major changes in 1-2 hours.
  • #275,160
  • Apr 1, 2011 4:02am Apr 1, 2011 4:02am
I have a buy position with tp of 1.6300, no sl
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