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Cable Update (GBPUSD)

  • #287,041
  • Aug 22, 2011 11:56am Aug 22, 2011 11:56am
Quoting nAVIN2007
probably wrong but i think this is a pullback to breakout area..the candle formation look weak for shorting..and perhaps a bull flag
possible.
until things will be clear, i will try fast positions 20-30 pips each (if more better..)
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  • #287,042
  • Aug 22, 2011 12:24pm Aug 22, 2011 12:24pm
scalped 7 pips shortin the touch @lower previous 'bear flag'

not a strong bounce as i expected.....
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  • #287,043
  • Aug 22, 2011 12:26pm Aug 22, 2011 12:26pm
Quoting _BBKing_
possible.
until things will be clear, i will try fast positions 20-30 pips each (if more better..)
also another actually a few:-

1)last month was a bullish candle
2)weekly last week broke the high of the previous weekly (which was bearish)
3)inverse H&S type formation..we rough at neckline..need to support price, is doing so

4)trend is up..
5)also possible bull flag

theres reasons to be a bull

someone else can do the short..
  • #287,044
  • Aug 22, 2011 12:56pm Aug 22, 2011 12:56pm
Good afternoon, i am looking to add my sell position from 1.65 at about 1.6475, as i believe we are going to 1.63. Let's see what the market says
  • #287,045
  • Aug 22, 2011 1:16pm Aug 22, 2011 1:16pm
Quoting Hgslv
Good afternoon, i am looking to add my sell position from 1.65 at about 1.6475, as i believe we are going to 1.63. Let's see what the market says

reasons?????????
  • #287,046
  • Aug 22, 2011 1:26pm Aug 22, 2011 1:26pm
Imho:

1) we are at the 50% retracement of median price drop
2) US index remains high
3) PA is King
  • #287,047
  • Aug 22, 2011 1:29pm Aug 22, 2011 1:29pm
Quoting nAVIN2007
also another actually a few:-

1)last month was a bullish candle
2)weekly last week broke the high of the previous weekly (which was bearish)
3)inverse H&S type formation..we rough at neckline..need to support price, is doing so

4)trend is up..
5)also possible bull flag

theres reasons to be a bull

someone else can do the short..
For the day trades, would still think its short on. Especially if candle develops under major trendline. RSI slightly negative biased. But of course weak data from USA tomorrow will turn this all upside down.
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  • #287,048
  • Aug 22, 2011 1:51pm Aug 22, 2011 1:51pm
as usually... "if is not a short... is a long!"
price came fast into previous 'bear flag' seen in h1.
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  • #287,049
  • Aug 22, 2011 1:52pm Aug 22, 2011 1:52pm
cable 5 min

What I see is this:

(but maybe I am wrong)
Attached Image (click to enlarge)
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  • #287,050
  • Aug 22, 2011 1:58pm Aug 22, 2011 1:58pm
price actually clearly out of rising wedge but not going down so fast or so much as we could have expected.

seen below in h4 i drawn some interesting levels.
near 6418 n 6290 good fibo confluence

i have whole emas open in uptrend.
this mean that if price goes down, will surely bounce (unless very strong fundam reasons..)

i added a dotted downward trendline, but im not sure about that.. would be better to see it near 6550.....
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  • #287,051
  • Aug 22, 2011 2:21pm Aug 22, 2011 2:21pm
Quoting _BBKing_
price actually clearly out of rising wedge but not going down so fast or so much as we could have expected.

seen below in h4 i drawn some interesting levels.
near 6418 n 6290 good fibo confluence

i have whole emas open in uptrend.
this mean that if price goes down, will surely bounce (unless very strong fundam reasons..)

i added a dotted downward trendline, but im not sure about that.. would be better to see it near 6550.....
exactly...I see it like you
but what I don´t understand is the fact that, that after this today´s downfall the retrace was very quick - I expected the price retrace to 1.6460 area - now we are on 61,80 fibo but if this hold we could see a movement to 1.6470 area again and maybe lower
  • #287,052
  • Aug 22, 2011 2:35pm Aug 22, 2011 2:35pm
Quoting Tatbat
exactly...I see it like you
but what I don´t understand is the fact that, that after this today´s downfall the retrace was very quick - I expected the price retrace to 1.6460 area - now we are on 61,80 fibo but if this hold we could see a movement to 1.6470 area again and maybe lower

1.6470 are reached
if the lower TL of my chart I posted is broken down now
we can see 1.6450 - 1.6455 during some time
  • #287,053
  • Aug 22, 2011 2:39pm Aug 22, 2011 2:39pm
Quoting Tatbat
1.6470 are reached
if the lower TL of my chart I posted is broken down now
we can see 1.6450 - 1.6455 during some time
lets see if gives some pips down...
Attached Image (click to enlarge)
Click to Enlarge Name: gum15.gif Size: 30 KB
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  • #287,054
  • Aug 22, 2011 2:51pm Aug 22, 2011 2:51pm
Quoting _BBKing_
lets see if gives some pips down...

I hope it gives....
( but with cable - nobody never knows)
  • #287,055
  • Aug 22, 2011 3:06pm Aug 22, 2011 3:06pm
Quoting Tatbat
I hope it gives....
( but with cable - nobody never knows)
me too
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  • #287,056
  • Aug 22, 2011 3:17pm Aug 22, 2011 3:17pm
..
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  • #287,057
  • Aug 22, 2011 3:19pm Aug 22, 2011 3:19pm
Quoting _BBKing_
me too
BBK - last hourly candle was engulfing candle I still hold my shorts, but what Asia session does - who knows....
  • #287,058
  • Aug 22, 2011 4:04pm Aug 22, 2011 4:04pm
Quoting Tatbat
1.6470 are reached
if the lower TL of my chart I posted is broken down now
we can see 1.6450 - 1.6455 during some time

all my targets met....
  • #287,059
  • Aug 22, 2011 4:09pm Aug 22, 2011 4:09pm
Quoting Tatbat
all my targets met....
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  • #287,060
  • Aug 22, 2011 4:51pm Aug 22, 2011 4:51pm
overall +22 in a hi to low 80

not so bad... damn that -15 took in the morning...
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