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Cable Update (GBPUSD)

  • #289,321
  • Sep 22, 2011 3:53am Sep 22, 2011 3:53am
4hr descending equi-distance channel remains intact.

G/L
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ex member
  • #289,322
  • Sep 22, 2011 4:13am Sep 22, 2011 4:13am
Very hard to look to long cable with the yearly lows hovering at around 1.54- just wonder how many stops below there? I think we will find out since longs are getting squeezed everywhere and the attack on gold is once again on.
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  • #289,323
  • Sep 22, 2011 4:26am Sep 22, 2011 4:26am
it's my money and i want it now
  • #289,324
  • Sep 22, 2011 4:32am Sep 22, 2011 4:32am
Quoting Flatfish
Very hard to look to long cable with the yearly lows hovering at around 1.54- just wonder how many stops below there? I think we will find out since longs are getting squeezed everywhere and the attack on gold is once again on.
Can't agree more....Trend is your friend and not your enemy at the moment.
  • #289,325
  • Sep 22, 2011 4:41am Sep 22, 2011 4:41am
Price just dips below that prev dly swing lo zone running down to 5405, testing the 5400 round no. before some demand hits the market...eurusd weekly was easier to see re potential support - below. Price breeched the bottom channel on 4hr too at the lo...patterns of bullish divergence on 1min 15min 30min and 1hr now...1min shown below.

100% of 20atr on weekly and mthly exceeded, 20day atr 81% now so far today.

Outa here.

G/L
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ex member
  • #289,326
  • Sep 22, 2011 4:50am Sep 22, 2011 4:50am
1hr bullish divergence is here - could this 1hr candle close as a pinbar/hammer ?

Interestingly price dipped below the yearly pivot at the lo's (5445 area.)

Minor Uk data at 11am London.

G/L
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ex member
  • #289,327
  • Sep 22, 2011 4:51am Sep 22, 2011 4:51am
I hope for 1,5516
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  • #289,328
  • Sep 22, 2011 4:58am Sep 22, 2011 4:58am
Quoting FXMindset
Getting More Interesting,Like to see GU In longer term Play
My Buy Limit @ 1.5405 Hitted,See How this pairs play now
Attached Image (click to enlarge)
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If there was easy money lying around,no one would be forcing it into your
  • #289,329
  • Sep 22, 2011 5:01am Sep 22, 2011 5:01am
Quoting FXMindset
My Buy Limit @ 1.5405 Hitted,See How this pairs play now
I LIKE YOUR CHART !!!!
  • #289,330
  • Sep 22, 2011 5:09am Sep 22, 2011 5:09am
Quoting Nick35
I LIKE YOUR CHART !!!!
Thank You,Just Try to make it simple to understand
If there was easy money lying around,no one would be forcing it into your
  • #289,331
  • Sep 22, 2011 5:23am Sep 22, 2011 5:23am
Quoting bbmac
4hr descending equi-distance channel remains intact.

G/L
I am going to agree with bbmac on this one. My stops have been tightened but not going to pick a bottom on the one. Looking a daily close to the upside and breaking of the 4 hour channel to start thinking long term buy.

ovaforty I would be interested to know what other pairs are you interested in at the moment. As you are not going to touch the GU for a while?
  • #289,332
  • Sep 22, 2011 5:51am Sep 22, 2011 5:51am
Just sell the rally.. if cable a bit choppy see ausie and kiwi.
or buy the dips of ucad.

no rocket science
  • #289,333
  • Sep 22, 2011 6:01am Sep 22, 2011 6:01am
Quoting specul8
I am going to agree with bbmac on this one. My stops have been tightened but not going to pick a bottom on the one. Looking a daily close to the upside and breaking of the 4 hour channel to start thinking long term buy.

ovaforty I would be interested to know what other pairs are you interested in at the moment. As you are not going to touch the GU for a while?
Would anticipate a run up before US come in. Would think 1.5470-75 area looks good to me.
  • #289,334
  • Sep 22, 2011 6:31am Sep 22, 2011 6:31am
Let me Zoom The Monthly Chart and where is my Stop
Attached Image (click to enlarge)
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If there was easy money lying around,no one would be forcing it into your
  • #289,335
  • Sep 22, 2011 6:42am Sep 22, 2011 6:42am
Quoting FXConveyor
Would anticipate a run up before US come in. Would think 1.5470-75 area looks good to me.
5449 then 5462 then 5475 (my target area) then at a push maybe 5492. that's what I am currently looking at on the one hour.
  • #289,336
  • Sep 22, 2011 7:49am Sep 22, 2011 7:49am
1.5261 i will look for bounce.
  • #289,337
  • Sep 22, 2011 7:50am Sep 22, 2011 7:50am
Quoting _BBKing_
blue line provided support in the past. now near 5500.5490
bottom of hourly channel appears near 5430

price can also go further down below channel.
would not be first time it does...

lets see what happens
m1 bullish divergence for the 5560 pullback imo
happened!!!
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for the moment only demo account.
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Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 160 KB
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  • #289,338
  • Sep 22, 2011 7:50am Sep 22, 2011 7:50am
Took profit at 15330. +165 P

Could still drop lower, but sticking to my plan.

GL with your trades.

Quoting Fudomyo
looking for a retest of 5600 (eventually). Shorter term, under 5400 we may see 5350-5320 if the Daily Open holds at 5500.

Quoting Fudomyo
first target hit. nice little run to 5500 Daily Open and shorted off of it.
  • #289,339
  • Sep 22, 2011 7:53am Sep 22, 2011 7:53am
My last TP will be 1.52904 or stopped at 1.535
  • #289,340
  • Sep 22, 2011 7:56am Sep 22, 2011 7:56am
guys... i checked around previous posts
im happy to be out of trading by today (withdrawn fxpro account)
GU si crashing like a stone! be careful and look at other pairs...

GBP AUD went up like a space shuttle for example.......................
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