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Cable Update (GBPUSD)

  • #286,801
  • Aug 18, 2011 1:49pm Aug 18, 2011 1:49pm
Perhaps we could leave the dick swinging to the Euro thread- so much rubbish posted there not even worth trying to look through it.

Hourly cable has broken the uptrend like and is currently heading back to retest it. No trade for me until thats decided. Looks still like a rising wedge with failing momentum. So that needs to pick up and cable could make another burst to the upside, otherwise look out below.
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  • #286,802
  • Aug 18, 2011 1:55pm Aug 18, 2011 1:55pm
Shorted GBP @ 1.6508 TP 1.6450 SL 1.66

Lets see

The reason i took this trade because trend line has been broken.
  • #286,803
  • Aug 18, 2011 2:01pm Aug 18, 2011 2:01pm
Quoting _BBKing_
h1 updated
still see possible 6475 previous high as good support area.
once or the other price will go into it imo
i find also 50% fibo of yesterday's insane move and dotted TL which would require another test...

extension in 6455 is possible but would be worried to see price going through dotted line again....

there is a nice line also in 6410.

today i will wait price in these levels, i hope will be possible to trade them!
hi bro,
i think you referering to that...
anyway, i did it!

lolz
sincerely i would ask you why you were feeling so confident on the move to 6410-20. i was not at all. i thought to see price bouncing from 6470-80.
indeed it did but 'only' for 40pips...
hope you also bought there at lows
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  • #286,804
  • Aug 18, 2011 2:04pm Aug 18, 2011 2:04pm
Here is my longer term view of cable. Weekly chart shows huge horizontal bands of resistence/ support forming with the converging MAs. 4 hourly all turning horizontal. Daily Usd/Nok . Think cable will do this but a bit more volitile 1.59- 1.65 till end of year many good fundies for such a view. And if so we will all be rich.
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  • #286,805
  • Aug 18, 2011 2:20pm Aug 18, 2011 2:20pm
Quoting nAVIN2007
u going to get very good surprise tomorrow..i think cable will go through the roof and euro as well

euro is in a mess though..people are trading in a tight triangle..unbelievable
Thanks , hope so .eu in complex movement & time to be simplied perhaps but good trading there this & last week .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #286,806
  • Aug 18, 2011 2:23pm Aug 18, 2011 2:23pm
hello all
i refreshed charts was tired of blak n white, lolz

with a bit of zoom out, adding some main level, cutting some lines, what appear is very simply to read:
price is going up.

anyway we must not forget two important things.
1. if that megaphone goes broken, first target and/or first bounce area is between 6300 n 6350.
2. never try to predict a move or anticipate a b/o: GU will kill you for sure and eat your stop!
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  • #286,807
  • Aug 18, 2011 2:23pm Aug 18, 2011 2:23pm
Quoting nAVIN2007
great discipline
thanks it's quite exciting to have something planned and then watch it happen. it's worth the wait, 'discipline' has some negative (must do) implicit meaning. if you have a plan that mostly works, the 'discipline' is automatic. but you know that Nav..

that's why i like cable - it's somehow reliable, two-dimensional being respecting my lines not like eurusd, that manic-depressive beast that changes its mind hundred times a day due to every gossip talk and political folly.

closed the 6451 buy at 6505 res but leaving the 6422 entry running free; if the uptrend holds it should be already in safe zone. i'm looking to exit around 6630 & possibly reverse.. time and pa will tell.

take a look at the 1400gmt candle - the volume spike.. LOT of buying there!

see ya all tomorrow, good luck!

edit: hearing some news off ransquawk regarding us climate ahead of jackson hole meeting: QE3 now more likely than not... bye bye us$, lol
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  • #286,808
  • Aug 18, 2011 2:49pm Aug 18, 2011 2:49pm
4 hourly. Buyers supported at middle bollinger, but notice top band has turned horizontal -this usually provides enough resistence to stop it so watch for a piercing candle there for a great low risk trade.
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  • #286,809
  • Aug 18, 2011 2:50pm Aug 18, 2011 2:50pm
bullish hidden divergence seen in h1
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  • #286,810
  • Aug 18, 2011 3:07pm Aug 18, 2011 3:07pm
my daily candle closes in 55 minutes.
will price be able to print above 6550? 30-40 pips from here..
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  • #286,811
  • Aug 18, 2011 3:11pm Aug 18, 2011 3:11pm
http://soundcloud.com/go-bang/se-1

a bit of music
if some one like...
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  • #286,812
  • Aug 18, 2011 3:13pm Aug 18, 2011 3:13pm
Quoting hamad9
Shorted GBP @ 1.6508 TP 1.6450 SL 1.66

Lets see

The reason i took this trade because trend line has been broken.
hello,
sorry can you please share which line you mean?
i would say to be careful by shortin this thing is going up...
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  • #286,813
  • Aug 18, 2011 3:17pm Aug 18, 2011 3:17pm
m5 is very near to be ready for more n more up
when ema will cross price will follow them.

or better... it usually do.
actually already crossed in 1m n 3m charts.

lets see
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  • #286,814
  • Aug 18, 2011 3:20pm Aug 18, 2011 3:20pm
Quoting nAVIN2007
great discipline
would be good to see a doji today on dailly
  • #286,815
  • Aug 18, 2011 3:21pm Aug 18, 2011 3:21pm
Quoting nAVIN2007
bro,
shouldn't it better to see a daily closing above 6550?
for more up i mean
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  • #286,816
  • Aug 18, 2011 3:25pm Aug 18, 2011 3:25pm
Quoting _BBKing_
bro,
shouldn't it better to see a daily closing above 6550?
for more up i mean

so long as the dailly trendline hold..price will go up..dont fight the trend

look at the 1hr chart..HH HL..all the way from my entery..so why u thinking short?..
  • #286,817
  • Aug 18, 2011 3:25pm Aug 18, 2011 3:25pm
Quoting _BBKing_
bro,
shouldn't it better to see a daily closing above 6550?
for more up i mean
in fx pro looks like this actually.
30 minutes left for closing
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  • #286,818
  • Aug 18, 2011 3:29pm Aug 18, 2011 3:29pm
do u see something on my chart??
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  • #286,819
  • Aug 18, 2011 3:34pm Aug 18, 2011 3:34pm
Has bounced off the support level below on 4hr chart, will move upto 1.6630-1.6650 if it breaks through 1.6600.
  • #286,820
  • Aug 18, 2011 3:34pm Aug 18, 2011 3:34pm
Quoting nAVIN2007
do u see something on my chart??
yes sure!
that's the main reason why i hope to see price above 6600 soon
i thought to see it today breaking up.
lets see if it does tomorrow, so next week 65 area good for buy again
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