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Cable Update (GBPUSD)

  • #313,821
  • May 18, 2012 6:28am May 18, 2012 6:28am
Quoting tunera
So.. today is buy-only day?
wow
what do you expect?? we already had 3 consecutive days of Sell sell sell.... i TOLD everyone GBP has to take a breather before next leg down....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #313,822
  • May 18, 2012 6:29am May 18, 2012 6:29am
Quoting Vikingbarde
...."coming to an end"
You mean it's going to go down today ? almost touched but hasnt broken pivot line, Bones - graphs - 5 days down on cable.
You think its going to go down - (then possibly 1.56) , before retracement.

I know its difficult question.
It was good point mentioned earlier re facebook, that ipo may not be as successful as anticipated.
VB
i don't think today.. we will see at least rejection candles on shorter TF before the move down.. keep an eye for doji, hammer etc...

candles like aussie.. see rejection at about the 9880.. now confirmation will be a closed below the 1h hammer first.
  • #313,823
  • May 18, 2012 6:40am May 18, 2012 6:40am
So WOW, - no reversal then? as expected - back up to 1.6 or 1.62 before big down ?

You think this is it? no big reversal in next few days?


( sorry reasons for questions - include i have 2 longs, sl 1.55 , so i'm trying to work out if take bit of hit now and close, or lose both of hits 1.54 to 1.52 without retracement).
VB


Quoting A-speculator
i don't think today.. we will see at least rejection candles on shorter TF before the move down.. keep an eye for doji, hammer etc...

candles like aussie.. see rejection at about the 9880.. now confirmation will be a closed below the 1h hammer first.
  • #313,824
  • May 18, 2012 6:40am May 18, 2012 6:40am
Quoting A-speculator
i don't think today.. we will see at least rejection candles on shorter TF before the move down.. keep an eye for doji, hammer etc...

candles like aussie.. see rejection at about the 9880.. now confirmation will be a closed below the 1h hammer first.
sorry, it's not hammer, it's shooting star..
  • #313,825
  • May 18, 2012 6:44am May 18, 2012 6:44am
Quoting Vikingbarde
So WOW, - no reversal then? as expected - back up to 1.6 or 1.62 before big down ?

You think this is it? no big reversal in next few days?


( sorry reasons for questions - include i have 2 longs, sl 1.55 , so i'm trying to work out if take bit of hit now and close, or lose both of hits 1.54 to 1.52 without retracement).
VB
mate, the danger of retracement is, the wave can be quite unpredictable, meaning that it can change to the maintrend anytime.. yes, we can calculate the max retracement by fibos, volume etc.. but i won't count on that.. i will search for exhaustion pattern in the wave and planning for my entry..

as bguguen says, at about price level 5280 area is quite important since it was the last low from previous swing.. any exhaustion pattern from that price can indicate price will turn back south. if that area failed to contain price, next resistance would be at about 5900
  • #313,826
  • May 18, 2012 6:44am May 18, 2012 6:44am
Anyone have any thoughts about a big sell off before London close?
  • #313,827
  • May 18, 2012 6:50am May 18, 2012 6:50am
Quoting Trader4567
Anyone have any thoughts about a big sell off before London close?
what make u think there's a big sell off?
  • #313,828
  • May 18, 2012 6:51am May 18, 2012 6:51am
Quoting Trader4567
Anyone have any thoughts about a big sell off before London close?
it may happen!
  • #313,829
  • May 18, 2012 6:57am May 18, 2012 6:57am
remind me please, when the right time to sell
LOL
  • #313,830
  • May 18, 2012 7:01am May 18, 2012 7:01am
sometimes institutions etc don't want to hold assets over a weekend (especially during uncertainty) so liquidate positions. Or so i believe
  • #313,831
  • May 18, 2012 7:04am May 18, 2012 7:04am
Quoting jajano
remind me please, when the right time to sell
LOL
I would suggest you to sell right now,
  • #313,832
  • May 18, 2012 7:10am May 18, 2012 7:10am
Good day to you all,

Have been running around a bit the past few days. Back from a west-coast trip.

Time to calculate... took another 60 pip hit 2 days ago... So not a good week overall. Tried some stuff - failed. Will end this week negative.

So - back to basics.

This late move up may suggest further bearishness later on. Was trading mid month as turning points - GU cancelled that. IF we have bottomed for now - it's late. So that suggests further bearishness down the line...

But i'm not gonna get clever again.

Wish you all the best

Regards
  • #313,833
  • May 18, 2012 7:21am May 18, 2012 7:21am
H1 mini pin... ish

i wonder if now is the time??

Best,
-H
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  • #313,834
  • May 18, 2012 7:30am May 18, 2012 7:30am
Quoting PoundTrader
my last short for the week, short at 1.5804, s/l 1.5890, t/p 1.5732.
just woke up and find myself down a few pips, t/p almost got hit
  • #313,835
  • May 18, 2012 7:45am May 18, 2012 7:45am
Quoting PoundTrader
just woke up and find myself down a few pips, t/p almost got hit
might consolidate at about this area i think to dissipate uptrend momentum..
  • #313,836
  • May 18, 2012 7:55am May 18, 2012 7:55am
OK,

Lil' long triggered this morning...

Should post all entries. Only way to be transparent.

Did not - was not at my PC - so sorry.

Could turn my recent losses - will see

Regards
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  • #313,837
  • May 18, 2012 8:01am May 18, 2012 8:01am
Quoting A-speculator
might consolidate at about this area i think to dissipate uptrend momentum..
think today close will be above 1.5804
  • #313,838
  • May 18, 2012 8:01am May 18, 2012 8:01am
Quoting TauTrader
OK,

Lil' long triggered this morning...

Should post all entries. Only way to be transparent.

Did not - was not at my PC - so sorry.

Could turn my recent losses - will see

Regards
i don't think cable is pointing up mate.. 5820-5835 resistance has to be broken first imho.
  • #313,839
  • May 18, 2012 8:03am May 18, 2012 8:03am
damn navin you had the chance to get out when price was at 1.6300 area late last month, holding a trade for years with a small account is crazy
  • #313,840
  • May 18, 2012 8:04am May 18, 2012 8:04am
Quoting PoundTrader
think today close will be above 1.5804
as long as below 5900 should be ok.. the concern is price closed weekly above 5900, i don't think it can move that far considering the time of the day..
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