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Cable Update (GBPUSD)

  • #280,141
  • May 26, 2011 11:33am May 26, 2011 11:33am
nAVIN2007, could you help me with an advice? I have a few shorts on me holding and this retracement just isnt showing up, shall i wait for a little pullback or better close them asap? What would be the best solution in your opinion?

Regards.
  • #280,142
  • May 26, 2011 11:58am May 26, 2011 11:58am
Quoting IonTrader
nAVIN2007, could you help me with an advice? I have a few shorts on me holding and this retracement just isnt showing up, shall i wait for a little pullback or better close them asap? What would be the best solution in your opinion?

Regards.

its difficult we are in a range 1.61 to 1.67..we could be bounce from these 2 levels for quite a while

dailly has 3 bullish candles..no retrace yet..
monthly end approach..no idea what can happen..price may move very quick

we approaching 1.64 which is around 61.8 of the move down, monthly is still bearish..it is impossible for me to tell u what to do as myself am long but its a long term position..im looking for 1.67

tmorrow may be a down day..what id do if i was u..look at dailly close a break above the high more than 20 pips..look for a test of the high if it holds for long..leave the boat
  • #280,143
  • May 26, 2011 12:05pm May 26, 2011 12:05pm
Quoting nAVIN2007
its difficult we are in a range 1.61 to 1.67..we could be bounce from these 2 levels for quite a while

dailly has 3 bullish candles..no retrace yet..
monthly end approach..no idea what can happen..price may move very quick

we approaching 1.64 which is around 61.8 of the move down, monthly is still bearish..it is impossible for me to tell u what to do as myself am long but its a long term position..im looking for 1.67

tmorrow may be a down day..what id do if i was u..look at dailly close a break above the high more than 20 pips..look for a test...
Thank you sir.

Thank you sir. Will watch 1.64 closely. Will close tomorow evening anyway and go long if there will be a pullback.

Best of wishes.
  • #280,144
  • May 26, 2011 12:13pm May 26, 2011 12:13pm
Quoting nAVIN2007
she doesnt have to do anything except meet on a monthly projection exactly where she needs to be..

tom it seems to me this new bunch of wannabe traders are nothing but gamblers, far more than previous??
would u agree?
Ignore them nav, we've seen these type come & go.
Anyone else thick enough to follow these clowns selling a very strong upmove well ... I have a message for you

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Thank You
  • #280,145
  • May 26, 2011 12:20pm May 26, 2011 12:20pm
Quoting zodiak
Still holding my shorts..Looking at daily, Fib retracement (H 1.6737 L 1.6132) at 50% (1.6393)..hmmm..patience

Guys what do you think

That L at 6132 you have calculated your 50% fib from is irrelevant...the lowset point of the move from 6746 Hi was 6057 Lo...therefore 50% of that is @ 6401.

G/L
ex member
  • #280,146
  • May 26, 2011 12:21pm May 26, 2011 12:21pm
Hi WM, Lol !

Quoting wormboy
Ignore them nav, we've seen these type come & go.
Anyone else thick enough to follow these clowns selling a very strong upmove well ... I have a message for you

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ex member
  • #280,147
  • May 26, 2011 12:39pm May 26, 2011 12:39pm
And btw, if it comes back down, at this point, should only be treated as retrace & an opportunity to add long instead of thinking this MUST GO DOWN all the way to save your bacon.

Now before you clowns still short get all pissy, I'll be nice & help you see.

Yeah, just candles. Noobies willing to learn, throw those shit indicators out. Really, things will be clear as day you will thank me later. See the charts below? Nothing bearish about it. Buy the dips.
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Thank You
  • #280,148
  • May 26, 2011 12:39pm May 26, 2011 12:39pm
4hr has seen 2 x HL's and a HH now and has joined 1hr in an opa uptrend (overall price action.) 100sma on 1hr could cross up thru it's 200sma both pointing up and converged atm. 100sma remains above it's 200sma on the daily but not on 4hr where it remains below it.

Significant fibs left unbreeched by the move up belong to the 6746-6057 and 6517-same 6057 Lo...6573-6057 seems less significant a move ? Subjective I know but a look on a 4hr chart and you'll see what I mean.

That 6517 previous 4hr/daily swing hi is looming above as is the 1.618% of 6303-6057 last daily swing down, below it @ 6460 area. Weekly R2 and R3 as well as the Monthly Pivot also between current daily Hi and that 6517 swing.

G/L
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ex member
  • #280,149
  • May 26, 2011 12:41pm May 26, 2011 12:41pm
Quoting bbmac
Hi WM, Lol !
hey mac how's it going
Thank You
  • #280,150
  • May 26, 2011 12:52pm May 26, 2011 12:52pm
Quoting bbmac
That L at 6132 you have calculated your 50% fib from is irrelevant...the lowset point of the move from 6746 Hi was 6057 Lo...therefore 50% of that is @ 6401.

G/L

agreed..looking at daily..( H 1.6743 L 1.6055) 50%...this is my area to watch closely..i do prefer general trend..yes it is up on weekly yes it is up on daily, but weekly bearish engulfing has it's confirmation..so weekly trend doesn't seem so strong

also MACD forest pointing divergence..

BB your posts ale priceless.tnx
  • #280,151
  • May 26, 2011 1:57pm May 26, 2011 1:57pm
it may drop like sh!t now with several levels in the area, 1.6400
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  • #280,152
  • May 26, 2011 2:31pm May 26, 2011 2:31pm
where be at 1.6400 area tommorow
  • #280,153
  • May 26, 2011 2:49pm May 26, 2011 2:49pm
My guess is it will come down tomorrow before heading up next week.
  • #280,154
  • May 26, 2011 3:16pm May 26, 2011 3:16pm
Same here. Anyway tomorow is the deadline for shorts, no point holding any more. imho
  • #280,155
  • May 26, 2011 3:22pm May 26, 2011 3:22pm
Quoting zodiak
agreed...but RSI looks pretty bullish..1.6425 is my watching point to close shorts..

cheers
hi zodiak
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  • #280,156
  • May 26, 2011 3:42pm May 26, 2011 3:42pm
Quoting wormboy
Ignore them nav, we've seen these type come & go.
Anyone else thick enough to follow these clowns selling a very strong upmove well ... I have a message for you

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  • #280,157
  • May 26, 2011 3:43pm May 26, 2011 3:43pm
Quoting IonTrader
Thank you sir.

Thank you sir. Will watch 1.64 closely. Will close tomorow evening anyway and go long if there will be a pullback.

Best of wishes.

yur very welcome
  • #280,158
  • May 26, 2011 6:45pm May 26, 2011 6:45pm
SL hit..
  • #280,159
  • May 26, 2011 6:55pm May 26, 2011 6:55pm
come on baby..eat all those retail traders stops. spike up another 60-70 pips!!!
  • #280,160
  • May 26, 2011 7:35pm May 26, 2011 7:35pm
This is what traders sentiment about pound at the moment. Expect the opposite till the sentiment changes or stops hit!
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