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Cable Update (GBPUSD)

  • #285,241
  • Jul 29, 2011 3:41am Jul 29, 2011 3:41am
Hey BB, hope you have a good w/e etc...next week a new month... G/L

Quoting _BBKing_
morning,
i had a very busy week.
today im tired n stressed.
im unable to trade....

i call it a week and go to the beach, is a nice sunny day here.
have a good day you all and a good week end.
will come back new week new month
ex member
  • #285,242
  • Jul 29, 2011 3:42am Jul 29, 2011 3:42am
Quoting _BBKing_
morning,
i had a very busy week.
today im tired n stressed.
im unable to trade....

i call it a week and go to the beach, is a nice sunny day here.
have a good day you all and a good week end.
will come back new week new month
rest well buddy

Quoting Unknownpips
UK mortgage data expected to be strong. Might just take profit now as that could be too volatile.
i didnt see this coming..tricked..lol
  • #285,243
  • Jul 29, 2011 3:42am Jul 29, 2011 3:42am
Quoting bbmac
Hey BB, hope you have a good w/e etc...next week a new month... G/L
tks
90% of traders use TA, indicators and prediction
  • #285,244
  • Jul 29, 2011 3:43am Jul 29, 2011 3:43am
Quoting bbmac
A look @ 4hr:

G/L
Looks like a monster head n shoulders
  • #285,245
  • Jul 29, 2011 3:43am Jul 29, 2011 3:43am
Quoting nAVIN2007
rest well buddy
tks mate
hope to see ya again here next week
90% of traders use TA, indicators and prediction
  • #285,246
  • Jul 29, 2011 3:51am Jul 29, 2011 3:51am
How will this weekly candle close ? Significant ?

Actually gonna finish here for session/day/week...U.s Q2 Gdp prelim etc this afternoon and maybe some movementt on debt ceiling thing ? (don't hold your breath on the latter.)

G/L all
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ex member
  • #285,247
  • Jul 29, 2011 3:52am Jul 29, 2011 3:52am
anyway i see in h4 a potential down move in 61's, after b/o of wedge and fibos etc..
what put me in doubt about, is ema 60 n 200 are full open in upward....
looks more like a back test of some level, than the start of a big down move.
if goes down, will surely get up fast after touch extremes near 6210 6160 or 6140.
also this 6250 can be enough!
thats my idea in h4 but today i won't follow price
now i go to the beach
good luck guys
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90% of traders use TA, indicators and prediction
  • #285,248
  • Jul 29, 2011 3:52am Jul 29, 2011 3:52am
Quoting nAVIN2007
rest well buddy



i didnt see this coming..tricked..lol
Funny how my broker always posts contrary pieces of information. Its gone to a point where I can't believe anything they write. In fact does anyone believe what Dow Jones writes?
  • #285,249
  • Jul 29, 2011 4:05am Jul 29, 2011 4:05am
Quoting Unknownpips
Funny how my broker always posts contrary pieces of information. Its gone to a point where I can't believe anything they write. In fact does anyone believe what Dow Jones writes?

i never listen to anything..especially these folks..i try to simply follow the charts..i was reading some of kath lien posts and u cant help but form a bias based on her experience.

the truth is:- nobody know exactly what will happen
every chart formation can potentially be unique..
even if everything lines up it still can do the complete opposite, u simply have to risk an amount to see if yur right

took my a long time to come to terms of some of these..and still battling today..if u cant take a chance u cant trade and make money..i have found this..stop looking for a perfect setup ..it never is one..i have found this also..lol
  • #285,250
  • Jul 29, 2011 4:07am Jul 29, 2011 4:07am
Quoting _BBKing_
tks mate
hope to see ya again here next week

i will be spending a lot more time in here..
enjoy weekend bro!!
  • #285,251
  • Jul 29, 2011 4:19am Jul 29, 2011 4:19am
hey there

shorting the pound here. I entered the market at 1.63166 so it's not just recently. Well hope it reach his weekly pivot point

happy trading all
  • #285,252
  • Jul 29, 2011 4:36am Jul 29, 2011 4:36am
Quoting Praga
hey there

shorting the pound here. I entered the market at 1.63166 so it's not just recently. Well hope it reach his weekly pivot point

happy trading all
All the best. Should US come out with strong GDP the next support is quite a long way down. Hope things work out for you.
  • #285,253
  • Jul 29, 2011 4:57am Jul 29, 2011 4:57am
Quoting Unknownpips
All the best. Should US come out with strong GDP the next support is quite a long way down. Hope things work out for you.
But what makes you believe the Greenback will move in the same direction as equities ? There is much evidence of an inverse correlation, and given strong GDP data, the Greenback could make a concerted risk-off depreciation, with Swissie and Yen, against Sterling.
  • #285,254
  • Jul 29, 2011 5:05am Jul 29, 2011 5:05am
Quoting CoffeeGamble
But what makes you believe the Greenback will move in the same direction as equities ? There is much evidence of an inverse correlation, and given strong GDP data, the Greenback could make a concerted risk-off depreciation, with Swissie and Yen, against Sterling.
I mean't to say that in the past strong us gdp usually resulted in strong dollar and thus should that happen today, the cables next support is a long way off. But of course past might not repeat - according to the broker, the cable is set for a bounce back (I personally can't see how as this level 1.627 could be breached).
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  • #285,255
  • Jul 29, 2011 5:07am Jul 29, 2011 5:07am
Possible Scenario
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  • #285,256
  • Jul 29, 2011 5:14am Jul 29, 2011 5:14am
Quoting Unknownpips
I mean't to say that in the past strong us gdp usually resulted in strong dollar and thus should that happen today, the cables next support is a long way off. But of course past might not repeat - according to the broker, the cable is set for a bounce back (I personally can't see how as this level 1.627 could be breached).
Fair enough, although if my memory doesn't fail me, it's been a while since we've seen strong US GDP data.

If anything, I'd bet that weak GDP data would be more likely to send cable south.
  • #285,257
  • Jul 29, 2011 5:14am Jul 29, 2011 5:14am
Quoting stulic
Starts looking like H&S in making to me
Even more 24hrs later, new high above right shoulder has been reached at 6383
and neckline broken at 6300-ish.
Let's see.
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Don't get mad, get even!
  • #285,258
  • Jul 29, 2011 5:15am Jul 29, 2011 5:15am
am taking small lot for Long around here to 6317x... could be wrong .
Happy weekend all...
Quoting iqyu5an
Hmmm.....
not euphoria follower
  • #285,259
  • Jul 29, 2011 6:24am Jul 29, 2011 6:24am
Quoting Unknownpips
Funny how my broker always posts contrary pieces of information. Its gone to a point where I can't believe anything they write. In fact does anyone believe what Dow Jones writes?
Don't you know why ? The job of brokers is to break the customers who are just grist to their mill ! So, they write things to make them buy and sell, buy and sell which means pips for brokers if not for the clinets ! DJ may be somewhat reliable as their writers are well-fed but as to others ... all hungry specialists

Re Cathy Lien : Good grasp of theory but does theory make money in FX ? If it did Greenspan would have traded FX !

That my friend is how I understand this Biz - dicey at Best !
Let me wish you Pips ! If it help, do acknowledge it. Thanks.
  • #285,260
  • Jul 29, 2011 6:31am Jul 29, 2011 6:31am
Quoting nAVIN2007
i never listen to anything..especially these folks..i try to simply follow the charts..i was reading some of kath lien posts and u cant help but form a bias based on her experience.

the truth is:- nobody know exactly what will happen
every chart formation can potentially be unique..
even if everything lines up it still can do the complete opposite, u simply have to risk an amount to see if yur right

took my a long time to come to terms of some of these..and still battling today..if u cant take a chance u cant trade and make money..i have found...
So true, Navin. Problem is there are times when the moves are easily seen and there are times like this ! I think problem is everyone is Long E & G and the Banks are trying to knock so they do not have to shell out a lot so they are shaking the tree, Y'day I took a Sell on EU at 4302 - it knocked me out at -18 pips and today it is down more than 50 points !
So, it is survive as you can !

Happy Pips and Happy Weekend !
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