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Cable Update (GBPUSD)

  • #278,881
  • Edited 5:45am May 11, 2011 5:32am | Edited 5:45am
Anybody awaiting for retrace ?
Attached Image
  • #278,882
  • May 11, 2011 5:37am May 11, 2011 5:37am
Something tells me 6500 is all we'll get for now.
Gone to a better place
  • #278,883
  • May 11, 2011 5:38am May 11, 2011 5:38am
Quoting smikester
Something tells me 6500 is all we'll get for now.
I hope so..... a little trip to 1.645 would be sweet
  • #278,884
  • May 11, 2011 5:38am May 11, 2011 5:38am
6507 to be precise
Gone to a better place
  • #278,885
  • May 11, 2011 5:39am May 11, 2011 5:39am
Price reaches a 6403 bid Hi ...76.4% of the 6574-6269 swing, - just above the 50% of main recent 6746-6269 swing (6507.)

Uk Boe inflation report press conference is finished.

G/L
ex member
  • #278,886
  • May 11, 2011 5:41am May 11, 2011 5:41am
Quoting nAVIN2007
dont be sad u made profit..focus on the positive
you're right, but this week im working very very very bad.
im thinkin to take some days off.
90% of traders use TA, indicators and prediction
  • #278,887
  • May 11, 2011 5:42am May 11, 2011 5:42am
Quoting _BBKing_
you're right, but this week im working very very very bad.
im thinkin to take some days off.
this week was what some says untradable..... except kiddy scalping
  • #278,888
  • May 11, 2011 5:43am May 11, 2011 5:43am
€ looks horrible so far today....better £ trading...has reached 128% of it's 20 day average pip range (77% of same weekly average and 66% same monthly average.)

Done for today.

G/L
ex member
  • #278,889
  • May 11, 2011 5:49am May 11, 2011 5:49am
Quoting _BBKing_
you're right, but this week im working very very very bad.
im thinkin to take some days off.

i stopped trading for a while and i realised..when we trade we develop mental strength and take it for granted..i had to rebuild my believe again

best advise i can give u..make a note if what it is your doing bad..and when and just make sure u stop doing it..unless yur tired then take a break
  • #278,890
  • May 11, 2011 6:01am May 11, 2011 6:01am
any ideas if it will re-visit 6500? my broker didn't close at my limit
  • #278,891
  • May 11, 2011 6:08am May 11, 2011 6:08am
M30 and H1 Bearish Butterfly with levels.
Attached Image (click to enlarge)
Click to Enlarge Name: gpbusd-h1-butterfly.jpg Size: 163 KB
  • #278,892
  • May 11, 2011 6:10am May 11, 2011 6:10am
Now waiting again till USD news and NY open... I stopped the bulls too soon, not realized how angry they were . Now looking for continuation or SHORT scalping, either is fine.
  • #278,893
  • May 11, 2011 6:22am May 11, 2011 6:22am
1.6500 is sure a good area to short for 100pips s.l 70pips, possible 120pips target
  • #278,894
  • May 11, 2011 6:29am May 11, 2011 6:29am
This entry closes tomorrow. short 1.6500 s.l 1.6570 t.p 1.6400. This is my secound entry 4 today. Am out.
  • #278,895
  • May 11, 2011 6:41am May 11, 2011 6:41am
Quoting fendi
This entry closes tomorrow. short 1.6500 s.l 1.6570 t.p 1.6400. This is my secound entry 4 today. Am out.
u have any idea what ABCD pattern is??

shorting 1.65 for 100 pips is certainly not a good idea especially with no weakness..
  • #278,896
  • May 11, 2011 6:54am May 11, 2011 6:54am
wait for a rise before us data and then go short fo an effecient entry. dont become bull just like that.
  • #278,897
  • May 11, 2011 7:09am May 11, 2011 7:09am
I dont think the $ news in a while make any bull run in the cable since its 173 pips range today. will be we seen the 6450 after the news in slow slope. the 30m candle close inside the bollinger band gives the little confermation.
  • #278,898
  • May 11, 2011 7:21am May 11, 2011 7:21am
Quoting nAVIN2007
i stopped trading for a while and i realised..when we trade we develop mental strength and take it for granted..i had to rebuild my believe again

best advise i can give u..make a note if what it is your doing bad..and when and just make sure u stop doing it..unless yur tired then take a break
thanks for the advice
i feel very tired + stressed.
stress made by ranging moves......
i go for a relax of 1-2 days, best choice!
about mistakes i see bad position increases when i feel like yesterday n today..
will check charts only with one eye
90% of traders use TA, indicators and prediction
  • #278,899
  • May 11, 2011 7:26am May 11, 2011 7:26am
navin i dont know how to explain this, I have tried so many things b4 i got success, i follow just pattern. G/U has a behaviour and pattern, most times similar pattern occur. If you follow indicators or theory you would be in place also, but this works for me. We cant do G/U more than 1.6525-40 max, it would come down after that. 95% certain.
Thanks,



Quoting nAVIN2007
u have any idea what ABCD pattern is??

shorting 1.65 for 100 pips is certainly not a good idea especially with no weakness..
  • #278,900
  • May 11, 2011 7:34am May 11, 2011 7:34am
another one fresh just for you

“I wonder how “serious” the upcoming situation will be regarding the US debt ceiling. I wonder if Tax-Cheatin-Timmy will lie as well. Surely the lil-ole stock market will be open and equities may fall, so be prepared for an avalanche of lies from everyone.”

As it turns out, Tax-Cheatin-Timmy may already be lying about the exact subject mentioned above. Not all debt is subject to the debt ceiling, which is convenient for Congress and the Treasury; however, that which is subject to the limit is at the maximum and the Treasury sold another $32 billion in IOUs this afternoon.

According to the Treasury’s own website the current staggering debt was only $20 billion shy of the ceiling. Check Table III in the lower right hand corner of the pdf page. https://www.fms.treas.gov/fmsweb/viewDTSFiles?dir=w&fname=11050900.pdf

Question: Is $32 billion more than $20 billion and wouldn’t that put the debt over the ceiling? Oh, and there are more IOU sales Wednesday and Thursday.

What was it again that people with immense power do when things get “serious?” Oh yeah…they LIE.

It is the largest Ponzi scheme any corrupt thief, company, or nation has ever run. It makes Bernie Madoff look like a two-bit pickpocket. Perhaps a recent scathing epistle from Bill Gross on the subject is in order for tomorrow.
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