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Cable Update (GBPUSD)

  • #292,101
  • Nov 8, 2011 1:32pm Nov 8, 2011 1:32pm
Im off to bed stil holding my long since this morning. Hoping to see 1.6143 in the night. But this is forex one can never be sure enjoy trading.
  • #292,102
  • Nov 8, 2011 1:48pm Nov 8, 2011 1:48pm
pound had already be below 1.58,as it closely correlates with eur/usd,but one or another doesnt want to give up,so its either euro have business in 1.40 area,or someone is holding to their gbp positions.
  • #292,103
  • Nov 8, 2011 2:20pm Nov 8, 2011 2:20pm
Quoting megaqujik
i lost my cash so many times reading trend is your fried and thinking "bleeh.... on retrace there is also oportunity to earn..." - now i trade only with trade - it's working

now i am with uptrend
yes! alway better understand a trend and stay with it!
going against can be dangerous!

must be very very very accurate and careful if against a trend!
90% of traders use TA, indicators and prediction
  • #292,104
  • Nov 8, 2011 2:21pm Nov 8, 2011 2:21pm
Quoting iqyu5an
6108-6138 on eyed
Attached Image (click to enlarge)
Click to Enlarge Name: pvjj122.gif Size: 20 KB
not euphoria follower
  • #292,105
  • Nov 8, 2011 2:28pm Nov 8, 2011 2:28pm
Quoting iqyu5an
well done!
90% of traders use TA, indicators and prediction
  • #292,106
  • Nov 8, 2011 6:20pm Nov 8, 2011 6:20pm
looks bearish to me

http://www.forexfactory.com/attachme...9&d=1320797892
Don't have an ego. Always question yourself and your ability.
  • #292,107
  • Nov 8, 2011 6:46pm Nov 8, 2011 6:46pm
I figuer I post my veiw also (seam like a good bunch here).And realy haven't traded GU as of lately...

Basing on usdx hold as support it may be a nice ride with 1..6132 support and max fib extention helped by 200 sma..Good luck Mr Fake out and bears!

edit... Hey my 1000 post!!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu daily 118.gif Size: 38 KB
Click to Enlarge Name: gu 1hr 118.gif Size: 38 KB
  • #292,108
  • Nov 8, 2011 9:10pm Nov 8, 2011 9:10pm
Quoting Chillypiper
I figuer I post my veiw also (seam like a good bunch here).And realy haven't traded GU as of lately...

Basing on usdx hold as support it may be a nice ride with 1..6132 support and max fib extention helped by 200 sma..Good luck Mr Fake out and bears!

edit... Hey my 1000 post!!
you mean resistance.

congratulation on your 1k post and welcome to the cable thread, Mr.Roxy fan
  • #292,109
  • Edited 10:07pm Nov 8, 2011 9:55pm | Edited 10:07pm
imho : US wants lower USD for reason below . once US cut their interest... we'll see ...

BUT other will think the same
my view

Quoting iqyu5an
Disadvantages of a strong currency

Increase in the trade deficit: The lower price of imports leads to consumers increasing their demand and this can cause a large trade deficit. Exporters lose price competitiveness because they will find it more expensive to sell in foreign markets and face losing market share – this can damage profits and employment in some sectors and industries.

Slower economic growth: If exports fall, this causes a reduction in aggregate demand and reduces the short-term rate economic growth...
=========================
Inserted Video
not euphoria follower
  • #292,110
  • Nov 8, 2011 11:05pm Nov 8, 2011 11:05pm
I just close yesterdays long trade for 45 pips. I re entered gu for a buy trade. My entry price is 1.60879 my sl is 1.60379 and my tp is 1.61879. Lets see how it goes. I am wishing everyone in here a pip filled day.
  • #292,111
  • Nov 9, 2011 12:05am Nov 9, 2011 12:05am
Unbelievable day yesterday.. +9,94 % account growth.

Uhh...golden pips
Trader from Croatia
  • #292,112
  • Nov 9, 2011 12:22am Nov 9, 2011 12:22am
Quoting iqyu5an
imho : US wants lower USD for reason below . once US cut their interest... we'll see ...

BUT other will think the same
my view



=========================
http://www.youtube.com/watch?v=LzPpD...eature=related
goddamn them and their fukking bombs!
90% of traders use TA, indicators and prediction
  • #292,113
  • Nov 9, 2011 12:44am Nov 9, 2011 12:44am
hello all
i was reading previous post and short setup.

im not so sure that today we will go bearish.
main reason is on hourly chart. this thing goes bit down when small trading volumes then shoot up at increasing volumes.
im studying volumes since few time so i could be wrong, and mostly im asking any advice about.

but as seen below volumes left market after yesterday NY closing time and price still not closing below DP 6083.
doing same thing since end of last week + this week.

i agree that h4 pattern is very bad for bulls and also my macd setup is not giving good signs for longs but its also true that after the touch in 61 resistance price is still here and not bouncing strong down as we could expect. last timw when price reached this area, rejected straight 150 pips then in the retrace bounced again more than 200 pips!!

i closed yesterday's long and today i reloaded again (hidden on chart)its a small one for the moment but im ready to add today to go for higher 61 (6180..) and 62 area (6230...)

will change my idea if i see price going out and closing below 6000
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 37 KB
90% of traders use TA, indicators and prediction
  • #292,114
  • Nov 9, 2011 12:48am Nov 9, 2011 12:48am
Wave 4: Wave four is typically clearly corrective. Prices may meander sideways for an extended period, and wave four typically retraces less than 38.2% of wave three (see Fibonacci relationships below). Volume is well below than that of wave three. This is a good place to buy a pull back if you understand the potential ahead for wave 5. Still, fourth waves are often frustrating because of their lack of progress in the larger trend.
Quoting _BBKing_
hello all
i was reading previous post and short setup.

im not so sure that today we will go bearish.
main reason is on hourly chart. this thing goes bit down when small trading volumes then shoot up at increasing volumes.
im studying volumes since few time so i could be wrong, and mostly im asking any advice about.

but as seen below volumes left market after yesterday NY closing time and price still not closing below DP 6083.
doing same thing since end of last week + this week.

i agree that h4 pattern is very bad for bulls and...
not euphoria follower
  • #292,115
  • Nov 9, 2011 1:06am Nov 9, 2011 1:06am
Quoting iqyu5an
Wave 4: Wave four is typically clearly corrective. Prices may meander sideways for an extended period, and wave four typically retraces less than 38.2% of wave three (see Fibonacci relationships below). Volume is well below than that of wave three. This is a good place to buy a pull back if you understand the potential ahead for wave 5. Still, fourth waves are often frustrating because of their lack of progress in the larger trend.
ok i saw your chart, im not used to watch at elliots but i thought that wave IV was completed at/near actual low 6080
in 6080 is DP + ema60 in m30 + good swing high in h1 (07.nov)

if price hold here we go very high.
first sign of weakening imo will be a candle closing below 6050 at least.
90% of traders use TA, indicators and prediction
  • #292,116
  • Nov 9, 2011 1:15am Nov 9, 2011 1:15am
agree bro.. we never know exact level

so im trying to draw intraday fibo as seen below ...


Quoting _BBKing_
ok i saw your chart, im not used to watch at elliots but i thought that wave IV was completed at/near actual low 6080
in 6080 is DP + ema60 in m30 + good swing high in h1 (07.nov)

if price hold here we go very high.
first sign of weakening imo will be a candle closing below 6050 at least.
Attached Image (click to enlarge)
Click to Enlarge Name: pvjj128.gif Size: 19 KB
not euphoria follower
  • #292,117
  • Nov 9, 2011 1:34am Nov 9, 2011 1:34am
pffff
ok, looks like im on the wrong side.

cutted half position in loss (10% of yesterday's profits)

i hope now on a pullback near DP
if stopped i loose 15% of profits.

lets see.
90% of traders use TA, indicators and prediction
  • #292,118
  • Nov 9, 2011 1:38am Nov 9, 2011 1:38am
no right or wrong in fx dude

Quoting _BBKing_
pffff
ok, looks like im on the wrong side.

cutted half position in loss (10% of yesterday's profits)

i hope now on a pullback near DP
if stopped i loose 15% of profits.

lets see.
not euphoria follower
  • #292,119
  • Nov 9, 2011 1:48am Nov 9, 2011 1:48am
Quoting iqyu5an
no right or wrong in fx dude
so true!
90% of traders use TA, indicators and prediction
  • #292,120
  • Nov 9, 2011 1:49am Nov 9, 2011 1:49am
but there is only profit and loss ..........
Quoting _BBKing_
so true!
not euphoria follower
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