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Cable Update (GBPUSD)

  • #279,981
  • May 25, 2011 8:54am May 25, 2011 8:54am
Quoting TauTrader
Good day to you,

I actually prefer longing GU at the moment - just looking for a pullback to see. Will keep an eye on PA and the next 8 hours or so. Will then decide whereto I will go next.

Regards
same here, more into longer time trades....

however hope to see her down at least 1.617 before definite uptrend
  • #279,982
  • May 25, 2011 9:29am May 25, 2011 9:29am
looks like a stop hunting try then i would expect it to go above the highs at 1.63 and then fall down
  • #279,983
  • May 25, 2011 9:43am May 25, 2011 9:43am
Quoting torkay77
looks like a stop hunting try then i would expect it to go above the highs at 1.63 and then fall down

sorry to spoil your party
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Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #279,984
  • May 25, 2011 9:50am May 25, 2011 9:50am
maybe it falls just a few pips
  • #279,985
  • May 25, 2011 10:01am May 25, 2011 10:01am
Quoting sphinx8
same here, more into longer time trades....

however hope to see her down at least 1.617 before definite uptrend
u should secure ard 20p already..
  • #279,986
  • May 25, 2011 10:06am May 25, 2011 10:06am
Quoting torkay77
looks like a stop hunting try then i would expect it to go above the highs at 1.63 and then fall down
may i ask why ?
  • #279,987
  • May 25, 2011 10:09am May 25, 2011 10:09am
Quoting budak baru
rising wedge to 1.7 supply.good trading
nice chart i like this
  • #279,988
  • May 25, 2011 10:17am May 25, 2011 10:17am
Quoting nAVIN2007
may i ask why ?

Just got home and I see my long prediction for today was spot on. Nive to be right occasionally! Guys if you're into the Euro - nice buy setup over there - should be good for 40 -50 pips at least IMHO.

Absolutely do expect cable to break 6300 in near future. As to whether it will come down significantly after that we would need a clear signal on the hourly chart.

rgds
  • #279,989
  • May 25, 2011 10:18am May 25, 2011 10:18am
shall we expect some pull back from here or it will continue to go north. The Gu starts its journey to north towards 6700+ mean while if we have some pullback from here will gives good entry to long. I didnt expect much fall from here atleast daily pivot level? I am short at 6285 for some pips. any suggestion for target fellows. Thanks in advance.
  • #279,990
  • May 25, 2011 10:20am May 25, 2011 10:20am
Quoting bchbch
shall we expect some pull back from here or it will continue to go north. The Gu starts its journey to north towards 6700+ mean while if we have some pullback from here will gives good entry to long. I didnt expect much fall from here atleast daily pivot level? I am short at 6285 for some pips. any suggestion for target fellows. Thanks in advance.
yes some pullback is in deed possible.
  • #279,991
  • May 25, 2011 10:26am May 25, 2011 10:26am
Quoting nAVIN2007
may i ask why ?
i just think there must be a huge amount of stop levels above 1.63, at least from all the bears ... so isn't this a good spot for the big guys?

considering that the downtrend continues...
  • #279,992
  • May 25, 2011 10:33am May 25, 2011 10:33am
Quoting bchbch
shall we expect some pull back from here or it will continue to go north. The Gu starts its journey to north towards 6700+ mean while if we have some pullback from here will gives good entry to long. I didnt expect much fall from here atleast daily pivot level? I am short at 6285 for some pips. any suggestion for target fellows. Thanks in advance.

Be careful! With the Euro exploding upwards cable might follow in sympathy.
  • #279,993
  • May 25, 2011 10:35am May 25, 2011 10:35am
Quoting torkay77
i just think there must be a huge amount of stop levels above 1.63, at least from all the bears ... so isn't this a good spot for the big guys?

considering that the downtrend continues...
:



From Action Forex::

As the British pound found decent demand at 1.6132 and has rallied after the release of as expected UK GDP data earlier in London session, suggesting a temporary low has been formed at 1.6055 yesterday and consolidation with upside bias is seen for retracement of recent decline towards resistance area at 1.6304-05, however, break there is needed to retain bullishness and bring a stronger correction towards 1.6340/45 (61.8% Fibonacci retracement of 1.6518 to 1.6055) but reckon 1.6383 (1.618 times projection of 1.6055-1.6210 measuring from 1.6132) would hold, bring retreat later.
  • #279,994
  • May 25, 2011 10:37am May 25, 2011 10:37am
Hi, just wondering...is this the time to go north? or still south..?? please share
"sharing knowledge make us more rich"
  • #279,995
  • May 25, 2011 10:47am May 25, 2011 10:47am
i really like to open short from here after my 3 lot hit tp , but i still have 0.5 lot long still looking for 16300 luckily the movement is according to my plan hope this is the end of 1.5 era
if my prediction correct soon (next week ) we will see 164 area before its down to 162 area again just my opinion . sorry no chart . the setup is for monthly candle stick .
Just Newbie Need Guidance From The Expert
  • #279,996
  • May 25, 2011 10:49am May 25, 2011 10:49am
Quoting torkay77
i just think there must be a huge amount of stop levels above 1.63, at least from all the bears ... so isn't this a good spot for the big guys?

considering that the downtrend continues...
think abt this..we broke the weekly low then if it breaks the wekly high what does this tell u about the direction?
  • #279,997
  • May 25, 2011 10:55am May 25, 2011 10:55am
Quoting nAVIN2007
think abt this..we broke the weekly low then if it breaks the wekly high what does this tell u about the direction?
uptrend formation shouldnt break the low rite?

cant get your point.. sorry noob here..
  • #279,998
  • May 25, 2011 10:57am May 25, 2011 10:57am
Quoting jmtini
:



From Action Forex::

and consolidation with upside bias is seen for retracement of recent decline towards resistance area at 1.6304-05,
Time to Short.
  • #279,999
  • May 25, 2011 10:58am May 25, 2011 10:58am
That was easy 130 pips after news if someone have been paying attention.

Seb
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  • #280,000
  • May 25, 2011 11:03am May 25, 2011 11:03am
Quoting nAVIN2007
think abt this..we broke the weekly low then if it breaks the wekly high what does this tell u about the direction?
do you mean reversal?
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