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Cable Update (GBPUSD)

  • #304,161
  • Mar 19, 2012 4:42am Mar 19, 2012 4:42am
Quoting Faller
and then u go short?

dude?
Bro, you know when I suggested you were stoned I was joking and you seemed to go along with it just fine. At the time, it looked like a bull flag surely?? I don't know who said you were full of shit but not me, I respect you too much. Like I said when I got home, MY SYSTEM gave me a soft SELL signal that needed confirmation. So I sold with SL above the high and a buy stop there also. You seemed ok with everything a few hours ago
What changed? No point in you leaving bro, this place is not helping my business or home life anyway so by by, good luck with your trading.
Come with me if you want to live....
  • #304,162
  • Mar 19, 2012 4:43am Mar 19, 2012 4:43am
Quoting bbmac
G/M,

What chance some upside follow thru on Friday's bull thrust/last week's bullish engulf candle ?

Demand encountered at the previous 1hr swing lo zone just off the Friday Hi...only25% of 20 day atr covererd so far today as price remains beween the 5816 pullback lo on Friday and the Friday hi @ 5860.

Immediately above current price:

5845-50 prev minor 1hr sw hi zone
5851-60 prev 1hr sw hi zone incl 5851= Monthly Pivot @/around
5874-81 prev Dly/4hr/1hr sw hi zone
5885 76.4% 5974-5601
5896-5908 prev 4hr sw lo zone (non-immed)...
Hai bbmac, well it's monday...can't see anything yet as for now...
and seems like a graveyard in here...too quiet...
I trade to live
  • #304,163
  • Mar 19, 2012 4:52am Mar 19, 2012 4:52am
I really love this cable thread..
I hope everyone cool down..
I trade to live
  • #304,164
  • Mar 19, 2012 5:11am Mar 19, 2012 5:11am
Hi all,

Monthly trendlines coverging closely together got to be a breakout sooner or later!
any thoughts?
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  • #304,165
  • Mar 19, 2012 5:23am Mar 19, 2012 5:23am
price testing the 14.6 fib of the run up at the moment...

Attached Image
  • #304,166
  • Mar 19, 2012 5:49am Mar 19, 2012 5:49am
long from 5838
  • #304,167
  • Mar 19, 2012 6:26am Mar 19, 2012 6:26am
so far longs are in play, as long as monday close stay above 1.5797 with no change in support if any changes happens then where in for a drop.
  • #304,168
  • Mar 19, 2012 6:35am Mar 19, 2012 6:35am
closed at 5869.

+31 pips
  • #304,169
  • Mar 19, 2012 6:36am Mar 19, 2012 6:36am
Short Limit Order filled at 1.5870.... lets see where this takes me....
  • #304,170
  • Mar 19, 2012 6:53am Mar 19, 2012 6:53am
I'm not convinced this is going long.
  • #304,171
  • Mar 19, 2012 6:59am Mar 19, 2012 6:59am
5870 is critical.. if it becomes support, then we go north for sure
  • #304,172
  • Edited 8:25am Mar 19, 2012 8:06am | Edited 8:25am
Quoting Raaz
5870 is critical.. if it becomes support, then we go north for sure
I all for the bears here. We are a hard previous supplylevel.

http://i899.photobucket.com/albums/a...anuk/gbp-2.png
  • #304,173
  • Mar 19, 2012 8:17am Mar 19, 2012 8:17am
holding shorts if it stays under 1.5885 - targeting 1.5670 again.

shorted 1.5879 and 1.5884 stoploss 1.5900
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Early to bed, early to rise, keeps you healthy, wealthy and wise.
  • #304,174
  • Mar 19, 2012 8:32am Mar 19, 2012 8:32am
into profitz , lets keep it that way please Mr Cable
  • #304,175
  • Mar 19, 2012 8:52am Mar 19, 2012 8:52am
Quoting eqshack
holding shorts if it stays under 1.5885 - targeting 1.5670 again.

shorted 1.5879 and 1.5884 stoploss 1.5900


Open your charts out to the 4hr.

I hardly trust H&S patterns, but have heard they are more reliable on larger time frames.

If Cable fails to sustain above 1.5885 or so ( and the daily 200 SMA), it MIGHT mean the first stage formation of a right shoulder.



If so, then back down again, before a final move up for the right shoulder at around 1.5930, where it would run into the weekly 200 SMA coming down.

And Then ........................
  • #304,176
  • Mar 19, 2012 9:29am Mar 19, 2012 9:29am
Hi...newbies here...such a tug of war market between pound and dollar...cant make a clear decission...north or soufth..

humblely need some guide from bunch of masters and sifus here...
  • #304,177
  • Mar 19, 2012 10:24am Mar 19, 2012 10:24am
Quoting Raaz
5870 is critical.. if it becomes support, then we go north for sure
I agree but there are very strong resistance levels just above that!!!
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #304,178
  • Mar 19, 2012 10:26am Mar 19, 2012 10:26am
Quoting baherhosni
I agree but there are very strong resistance levels just above that!!!

im 25 pips in the red from 1.5870 but holding hope for this very reason! Got that nice big round number above!
  • #304,179
  • Mar 19, 2012 10:34am Mar 19, 2012 10:34am
Quoting MrBurns
im 25 pips in the red from 1.5870 but holding hope for this very reason! Got that nice big round number above!
I am looking for a tp at 5807.
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #304,180
  • Mar 19, 2012 11:09am Mar 19, 2012 11:09am
Quoting PoundTrader
so far longs are in play, as long as monday close stay above 1.5797 with no change in support if any changes happens then where in for a drop.

sup homie
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