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Cable Update (GBPUSD)

  • #312,461
  • May 10, 2012 6:41am May 10, 2012 6:41am
Today's 6090 low gives them just enough for the obligatory 125 pip run to fall just short of the resistance level of 6220. Cosy.

Will short at 6215 and add at 6280
  • #312,462
  • May 10, 2012 6:41am May 10, 2012 6:41am
Quoting nAVIN2007
not yet buddy..an attempt up top needs to happens so far it played to perfection..if people doubt this, then u havent looked meh charts

now its about USD..how strong is it really..
my chart tell me its screwed lets see
I think USD is simply shit. Nav is rite. not a time to sell. probably was a time to buy yesterday. i will eye 1.6250-1.63 and then sell.
  • #312,463
  • May 10, 2012 6:45am May 10, 2012 6:45am
there is nothing interesting in this..infact its been pissing around slightly but please tell where u see a bear!!!!!!!!!!

is this chart meh head?????????

trade what u see not what think
Attached Image (click to enlarge)
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  • #312,464
  • May 10, 2012 6:47am May 10, 2012 6:47am
Quoting Nachiket
I think USD is simply shit. Nav is rite. not a time to sell. probably was a time to buy yesterday. i will eye 1.6250-1.63 and then sell.

remember this chart
Attached Image (click to enlarge)
Click to Enlarge Name: cable11.jpg Size: 91 KB
  • #312,465
  • May 10, 2012 6:47am May 10, 2012 6:47am
guys if ever you are in this long trade... close some profits we never know if the price is simply testing the resistance trendline before going south.
The market will deceive you. Make your own judgement.
  • #312,466
  • May 10, 2012 6:48am May 10, 2012 6:48am
Quoting FXConveyor

Will short at 6215 and add at 6280


Mine R 211 & 251


:nerd:





Patterns have an underlying mathematical structure.
  • #312,467
  • May 10, 2012 6:48am May 10, 2012 6:48am
What's your idea about bearish ?
  • #312,468
  • May 10, 2012 6:49am May 10, 2012 6:49am
Important close coming up in the next 10mins. A close above 1.6155 (bearish trendline from last weeks high) and we could see a test of last weeks high (1.6300) over the next few sessions.
Attached Image (click to enlarge)
Click to Enlarge Name: 10-05-2012 12-46-09.jpg Size: 152 KB
  • #312,469
  • May 10, 2012 6:55am May 10, 2012 6:55am
Quoting Amir_Forex

Mine R 211 & 251


:nerd:





GL with that my tp will be 6065 or close both at 62 if goes as high as 6285
  • #312,470
  • May 10, 2012 6:57am May 10, 2012 6:57am
Quoting ninjafx
guys if ever you are in this long trade... close some profits we never know if the price is simply testing the resistance trendline before going south.

u have to be able to find a trend..i was short!! i didnt hold it cause as far as im concerned its no the trend for now..

problem is 1.63 is a balance point between short and long..anything above 1.60 is a bull..

people in here a deluded to think trading is easy..its not!!
  • #312,471
  • May 10, 2012 7:01am May 10, 2012 7:01am
okay seems that the bulls got some ground...

will wait to touch 1.6130 for my buy limit
The market will deceive you. Make your own judgement.
  • #312,472
  • May 10, 2012 7:03am May 10, 2012 7:03am
Quoting nAVIN2007
u have to be able to find a trend..i was short!! i didnt hold it cause as far as im concerned its no the trend for now..

problem is 1.63 is a balance point between short and long..anything above 1.60 is a bull..

people in here a deluded to think trading is easy..its not!!
yes i agree with that mate. traders have different trading strategies that they incorporate for their trading plan. :-)
The market will deceive you. Make your own judgement.
  • #312,473
  • May 10, 2012 7:06am May 10, 2012 7:06am
USD news coming within 24 mins
The market will deceive you. Make your own judgement.
  • #312,474
  • May 10, 2012 7:12am May 10, 2012 7:12am
I mentioned how retailers yesterday had decided to sell cable below 1.61, and we can still see just how consistent they are after buying it at 1.63. Buy wholesale sell retail thats the name of the game. Your job is to exchange prices with the retail investor. Thank you come again.
  • #312,475
  • May 10, 2012 7:17am May 10, 2012 7:17am
Quoting nAVIN2007
there is nothing interesting in this..infact its been pissing around slightly but please tell where u see a bear!!!!!!!!!!

is this chart meh head?????????

trade what u see not what think
It looks like bullish flag to me, but we're trapped in a very tight range right now. I was bearish bias but it changes when we have such spike yesterday. This pair is obviously not the one you would like to trade now unless you've been building your ground this few days though.
  • #312,476
  • May 10, 2012 7:23am May 10, 2012 7:23am
Quoting Flatfish
I mentioned how retailers yesterday had decided to sell cable below 1.61, and we can still see just how consistent they are after buying it at 1.63. Buy wholesale sell retail thats the name of the game. Your job is to exchange prices with the retail investor. Thank you come again.
how do you know most retail traders sell cable below 1.61 and buy it at 1.63? Oanda fxtrade?
  • #312,477
  • May 10, 2012 7:24am May 10, 2012 7:24am
Quoting 0rPhioZ
It looks like bullish flag to me, but we're trapped in a very tight range right now. I was bearish bias but it changes when we have such spike yesterday. This pair is obviously not the one you would like to trade now unless you've been building your ground this few days though.

everything happens for a reason..nothing is trapped imho..its consolidation..i love seeing folks in here bat between both sides, having no conviction for either because there always in the middle..

gotta love the weak..its what make us money!!

i know im being crude buts its the truth, market needs folks to not have a clue
  • #312,478
  • May 10, 2012 7:28am May 10, 2012 7:28am
Attached Image (click to enlarge)
Click to Enlarge Name: gbp-usd-daily.gif Size: 14 KB
  • #312,479
  • May 10, 2012 7:28am May 10, 2012 7:28am
Quoting rsg10z
how do you know most retail traders sell cable below 1.61 and buy it at 1.63? Oanda fxtrade?
data all available over at Oanda, if you know how to read it combined with price action.
  • #312,480
  • May 10, 2012 7:33am May 10, 2012 7:33am
Quoting 0rPhioZ
It looks like bullish flag to me, but we're trapped in a very tight range right now. I was bearish bias but it changes when we have such spike yesterday. This pair is obviously not the one you would like to trade now unless you've been building your ground this few days though.

yesterday price shot up and today there was a gap which the market filled..stops are placed on the short side above 1.63

and people want to see 1.63 to place a short..so u think market will leave 1.63??

lets see
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