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Cable Update (GBPUSD)

  • #292,721
  • Nov 16, 2011 4:19pm Nov 16, 2011 4:19pm
GU update
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  • #292,722
  • Nov 16, 2011 4:49pm Nov 16, 2011 4:49pm
Quoting DerekV
Tighten my protective stop again @ 5820 with final target still @ 5700.

Price has now punch through 5800 and over the last 2 hrs it fight hard to not letting it goes below 5750.

Price has been short term oversold on the HR1 and HR4. Both time frames has created a bullish divergence so do expect short term bounce. If the bounce occur do expect it to find resistance at 5870.

Anyway, It was a healthy ride over the last 5 days.
10 Hours ago price came within 5 pips away from my stop, almost took me out of the trade but then quickly turned south and reach the low just below 5720. Now, that alsl almost hit my target of 5700.

Now with the downside momentum still in favour I now tighten my trailing stop and further extend my price target.

Current price: 5725
Trailing stop: 5755
Target: 5685.
  • #292,723
  • Nov 16, 2011 5:10pm Nov 16, 2011 5:10pm
Quoting abdul_halim
GU update
So where is the update ? All I can see is some sluggish lines on our chart and some useless indicators.
  • #292,724
  • Nov 16, 2011 5:57pm Nov 16, 2011 5:57pm
Price is nippling with 5700 now. Tighten my stop again and further extend my target to the low of Oct 18.

Current Price: 5705
Trailing Stop: 5725
Target: 5635.

Such a ride.
  • #292,725
  • Nov 16, 2011 8:45pm Nov 16, 2011 8:45pm
Quoting DerekV
with an explosive move over the last 3hrs or so it seems to be exhausted on the HR1 chart as it came close to previous high.
Short @ 1.6070 with stop @ 1.6135. Target 1.6000.
Quoted above was my very first post (11/11/2011) as a new member of FF.

Anyway, such a nice ride on this pair for the last 6 days and finally got stop out @ 5725 for 345 pips profit.

Now will look forward for a bit of consolidation before a countertrend move to the upside.
  • #292,726
  • Nov 16, 2011 9:03pm Nov 16, 2011 9:03pm
As we can see here,GU is trying hard to break above yesterday Low.If it able to break:

1) Yesterday Low
2) Trend Line,TL (Orange Line)
3) Above Daily Pivot.

then,we expect an Uptrend or Retracement.Otherwise,as long as it stay under the TL,Brearish is still Valid.


Twinsummit
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Trade what you SEE, don't trade what you FEEL. Be Smart! - (Webadoi)
  • #292,727
  • Nov 16, 2011 9:10pm Nov 16, 2011 9:10pm
u use gartley indi... don't u ? take a look at daily TF, we will find same patern there.... but the question.... still no strong rejection at higher TF,say daily. once we get that........may be that will be the PRZ

time will tell


Quoting Flatfish
Cables weekly range for last six weeks between 260-360 pips. Would expect weekly bottom to be luking here abouts, and Wednesdays often mean reversals.
not euphoria follower
  • #292,728
  • Nov 16, 2011 9:54pm Nov 16, 2011 9:54pm
just to remind that the auction will be conducted today. initiated by Spain's bond at 9.30 am London time.

for fellow traders who are still somewhat confused with bond yield, while waiting let's learn together..

Bond Basics: Yield, Price And Other Confusion


Quoting gsantri
In order not to shock by the 'yield moves, tomorrow's Spain and France bond auctions (in London time)
  • #292,729
  • Nov 16, 2011 10:40pm Nov 16, 2011 10:40pm
Latest Government 10yr Bond Spread and Yield market data
  • #292,730
  • Nov 17, 2011 12:45am Nov 17, 2011 12:45am
Quoting _BBKing_
weekly trendline is attracting price near 5700 line.

5750 shown good demand today moving price higher 50 pips or so.

im interested to search longs near 5700 5680 this or next week.

scalps excluded...

oh well.
as always first touch in "my area" happens during asia session or when i can't be here trading.
i hate limit orders.

now, this line becoming very important level to watch for this and next week.

a closing below can open way for more strong down.
while if holds as support we could see a move in retrace up.
being a descending trendline, next week level to watch will be lower near 5650.

in chart below there is possible target within 3weeks or so.
i repeat: must happen a reversal pattern in hourly and daily TF to let this possible.

actually 5680 rejection is 90 pips while writing. something more than a simple taking profits imo......
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90% of traders use TA, indicators and prediction
  • #292,731
  • Nov 17, 2011 12:52am Nov 17, 2011 12:52am
actually EU weekly has very similar pattern in weekly chart, but that thing happens in lower level in 1.33 area.

this is a big problem actually.
can it crash those 200 pips without trailing down also GU?
90% of traders use TA, indicators and prediction
  • #292,732
  • Nov 17, 2011 12:57am Nov 17, 2011 12:57am
sold at previous support area + DP
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90% of traders use TA, indicators and prediction
  • #292,733
  • Nov 17, 2011 1:19am Nov 17, 2011 1:19am
Quoting _BBKing_
sold at previous support area + DP
out half +15
stop @be

im targeting daily open at least or better daily low.
i don't think london will let there such a nice line without their bids.

lets see
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90% of traders use TA, indicators and prediction
  • #292,734
  • Nov 17, 2011 1:56am Nov 17, 2011 1:56am
Quoting _BBKing_
out half +15
stop @be

im targeting daily open at least or better daily low.
i don't think london will let there such a nice line without their bids.

lets see

out more +30
holding small position no target.
will manual close
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90% of traders use TA, indicators and prediction
  • #292,735
  • Nov 17, 2011 2:36am Nov 17, 2011 2:36am
Quoting _BBKing_
out more +30
holding small position no target.
will manual close

ok out whole +30
shown good rejection at previous touch here

i let Eu short to run stops 3508 (be +1)
im out for today!

good luck you all!
90% of traders use TA, indicators and prediction
  • #292,736
  • Nov 17, 2011 3:11am Nov 17, 2011 3:11am
Morning,

Time has come to ride this down trend.

Regards,

Josef
  • #292,737
  • Nov 17, 2011 3:58am Nov 17, 2011 3:58am
Fat finger' pushed the button on that previous spike seems nobody buy it..

btw, Spain Sells EUR 3.56 Bln Of 10-year Bonds At 6.975% Yield.
Less income more debt.. the hole get bigger and bigger. dragged cable with for sure
  • #292,738
  • Nov 17, 2011 4:19am Nov 17, 2011 4:19am
why it so silent here..?

think I better go and listen some nice song at the music thread
  • #292,739
  • Nov 17, 2011 4:20am Nov 17, 2011 4:20am
Quoting gsantri
Fat finger' pushed the button on that previous spike seems nobody buy it..

btw, Spain Sells EUR 3.56 Bln Of 10-year Bonds At 6.975% Yield.
Less income more debt.. the hole get bigger and bigger. dragged cable with for sure
U think so... well that thing happenin not bcoz of no buyer... its bcoz there are more buyer and someone want to take all the stop lost 1st before the market is going up again.. hahaha... greedy market isn't it?..
  • #292,740
  • Nov 17, 2011 4:50am Nov 17, 2011 4:50am
Quoting Johnny Depp
U think so... well that thing happenin not bcoz of no buyer... its bcoz there are more buyer and someone want to take all the stop lost 1st before the market is going up again.. hahaha... greedy market isn't it?..
Yes it is.
I have taken some from my position all stops at BE.
that's why I better listen some music while sitting on my hands
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