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Cable Update (GBPUSD)

  • #291,141
  • Oct 25, 2011 4:42am Oct 25, 2011 4:42am
Quoting shripsfx
cant see 1.60 being take out. Especially when the dow is so close to 12000 and market risk should turn at that level.

Going short at 1.60
Admit , lots of logics there to short but no one be any safe before at least below 5925 H4 close or 5900 anytime , scalping few pips in the jumps up & down are different than taking for any possible movement , yet need one direction to trade even a scalping .No short in the views long automatically there then in the scene.
just take care .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #291,142
  • Oct 25, 2011 4:48am Oct 25, 2011 4:48am
Looks like the updraft that has carried Cable from 13-month low of 1.5330 (+/- 10 pips) to 1.6000 (+/- 20 pips) might be over.

Next serious S/R line after 1.6000 is 1.6060 (+/- 5 pips), followed by lesser S/R line at 1.6105 (+/- 10 pips).

To the downside, the S/R line that I believe will be very difficult to cross will be the 1.5860 (+/- 5 pips), with interim S/R lines at 1.5950 (+/- 5 pips) and 1.5905 (+/- 10 pips).

I am going to leave a Limit Order to sell at 1.6008, with a TP at 1.5915 and a SL at 1.6070.
  • #291,143
  • Oct 25, 2011 4:50am Oct 25, 2011 4:50am
my hold is very long term though
  • #291,144
  • Oct 25, 2011 4:53am Oct 25, 2011 4:53am
ok ok
i leave for some hours.
makes no sense stand here hoping to get a bottom or a top.
price going nowhere since 36 hours.....
i dont want to be the one buying the top or selling the bottom.
good luck you all
90% of traders use TA, indicators and prediction
  • #291,145
  • Oct 25, 2011 4:56am Oct 25, 2011 4:56am
Quoting _BBKing_
ok ok
i leave for some hours.
makes no sense stand here hoping to get a bottom or a top.
price going nowhere since 36 hours.....
i dont want to be the one buying the top or selling the bottom.
good luck you all
Me too staying away , let it do first.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #291,146
  • Oct 25, 2011 4:59am Oct 25, 2011 4:59am
Quoting _BBKing_
ok ok
i leave for some hours.
makes no sense stand here hoping to get a bottom or a top.
price going nowhere since 36 hours.....
i dont want to be the one buying the top or selling the bottom.
good luck you all
sorry 18 hours (36 m30 candles )
90% of traders use TA, indicators and prediction
  • #291,147
  • Oct 25, 2011 5:00am Oct 25, 2011 5:00am
Quoting fontu
Me too staying away , let it do first.
fontu
yes better!
staying out is first profit when no clear things... im not a gambler
90% of traders use TA, indicators and prediction
  • #291,148
  • Oct 25, 2011 5:03am Oct 25, 2011 5:03am
G/M

Bullish hammer close on 1hr on re-test and bounce from the daily pivot and previous 1hr swing lo zone and area of steepest ascending trend line on this 1hr t/f.

near-term current 1hr screenshot below...not shown here are the fibs from 5270, 5541 and 5629 swings to current 6021 daily hi.

G/L
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ex member
  • #291,149
  • Oct 25, 2011 5:12am Oct 25, 2011 5:12am
Quoting shripsfx
cant see 1.60 being take out. Especially when the dow is so close to 12000 and market risk should turn at that level.

Going short at 1.60
Market risk could turn. spot on though

That's why I'm flat now.
  • #291,150
  • Edited 5:30am Oct 25, 2011 5:16am | Edited 5:30am
Price challenging zone of current daily hi now....Above current Daily Hi (6021) ..

6034 Daily R1 @/around
6047-84 prev 4hr/daily swing hi zone incl 6072 = Wkly R1 @/around with 6075 = Daily R2 @/around
6103 61.8% 6617-5270
6110-6127 prev daily swing lo zone (non immed) incl 6117 Monthly R1 @/around
6141 Daily R3 @/around
6163-6206 prev 4hr sw hi zone incl 6173 = 76.4% 6454-5270, 6181=61.8% 6746-5270 and 6194 = Wkly R2 @/around

G/L
ex member
  • #291,151
  • Oct 25, 2011 5:18am Oct 25, 2011 5:18am
im not worried....got heaps of room for it to play out
  • #291,152
  • Oct 25, 2011 5:26am Oct 25, 2011 5:26am
How strong are the bulls ?

G/L
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ex member
  • #291,153
  • Oct 25, 2011 5:31am Oct 25, 2011 5:31am
Quoting josef
Went long at 1.5970 10 minutes ago.

Now - waiting.

Regards,

Josef
Trade is closed with +40 pips profit. My Daily target has been reached.

Regards,

Josef
  • #291,154
  • Oct 25, 2011 5:34am Oct 25, 2011 5:34am
congrats ...........well would you share your chart later ? so we could learn from you....how your entry and TP.

thank
Quoting josef
Trade is closed with +40 pips profit. My Daily target has been reached.

Regards,

Josef
not euphoria follower
  • #291,155
  • Oct 25, 2011 5:52am Oct 25, 2011 5:52am
Quoting iqyu5an
congrats ...........well would you share your chart later ? so we could learn from you....how your entry and TP.

thank
I second that request. Help us Josef, please.
Gone to a better place
  • #291,156
  • Oct 25, 2011 6:09am Oct 25, 2011 6:09am
I'm still bearish cable but I just put in this post because I have not done my analysis on cable, but I have done some on the Swissie. On the daily and the H4 there is a head and shoulders formation topping out the recent retracement on the weekly chart. This is currently playing out technically perfect. Fundamentally, there is always the danger the SNB will interfere but given the recent Euro strength that may be some time away.

Anyway, this is relevant because it shows dollar weakness. The equity markets are looking a bit stronger and so they should - inflation is underpricing stocks right across the board. This will contribute to a lower dollar at least in the short term.

My last serious analysis of cable gave a retracement value of 1.61 + which is last horizontal resistance (August lows) and 61.8% which cable traders seem to like. I think we might get some good price action to indicate shorts up there.
Gone to a better place
  • #291,157
  • Oct 25, 2011 6:10am Oct 25, 2011 6:10am
Quoting josef
Trade is closed with +40 pips profit. My Daily target has been reached.

Regards,

Josef
I went long at 1.5973 and came away with 14.3 pips when it showed weakness around the M5 and M15 MAs. I was glad I did when I saw it do a full retrace.

You sat it out and reaped the rewards...well done. Would be great to know what gave you the confidence to sit it out. Something I'm not great at.

Cheers Josef
  • #291,158
  • Oct 25, 2011 6:26am Oct 25, 2011 6:26am
Quoting smikester
I'm still bearish cable but I just put in this post because I have not done my analysis on cable, but I have done some on the Swissie. On the daily and the H4 there is a head and shoulders formation topping out the recent retracement on the weekly chart. This is currently playing out technically perfect. Fundamentally, there is always the danger the SNB will interfere but given the recent Euro strength that may be some time away.

Anyway, this is relevant because it shows dollar weakness. The equity markets are looking a bit stronger and so they...
gosh, better i move stops @be in my eur chf long
90% of traders use TA, indicators and prediction
  • #291,159
  • Oct 25, 2011 6:26am Oct 25, 2011 6:26am
Quoting josef
Trade is closed with +40 pips profit. My Daily target has been reached.

Regards,

Josef
well done
90% of traders use TA, indicators and prediction
  • #291,160
  • Oct 25, 2011 7:14am Oct 25, 2011 7:14am
Quoting _BBKing_
gosh, better i move stops @be in my eur chf long
I wish I had been long EUR/CHF... I know you won't change your opinion or trading based on my post, BB, but only based on your own analysis.

Sometimes these vouches worry me as newbies might trade inappropriately based on what I say. Oh well, they just have to take their chances.
Gone to a better place
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