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Cable Update (GBPUSD)

  • #316,661
  • Jun 18, 2012 5:28am Jun 18, 2012 5:28am
I also added a pending sell on EU @ 1.2725 TP 30 pips and SL 10 pips
  • #316,662
  • Jun 18, 2012 5:33am Jun 18, 2012 5:33am
Quoting PoundTrader
never jump the gun untill you get full confirmation
Thanks for the concern Pound.I appreciate it but this time I opened it with 0.2 lots only and I already have a confirmation on M30,H1 and H4

even if it gets stopped I still don't loose much.
  • #316,663
  • Jun 18, 2012 5:40am Jun 18, 2012 5:40am
Quoting redbeben
Morning guys

this pair normally should drop to 1.5420 area

First stop 1.5609 then 1.5577 and 1.5420

I'll sit on my bum for now as I opened a buy @ 1.5682 and closed it @ 1.5717 so target doubled today...almost.

and I don't have the balls to short now...or maybe I'll jump in with a small position

ok I'm in
sold @1.5673 TP 1.5450 and SL @ 1.5715..I'll close partially @ 1.5609 and 1.5577
hi ben, ill not be selling cable until i see a strong hourly close above 1.5738
The only way not to think about money is to have a great deal of it
  • #316,664
  • Jun 18, 2012 5:47am Jun 18, 2012 5:47am
Quoting redbeben
Thanks for the concern Pound.I appreciate it but this time I opened it with 0.2 lots only and I already have a confirmation on M30,H1 and H4

even if it gets stopped I still don't loose much.
  • #316,665
  • Jun 18, 2012 5:57am Jun 18, 2012 5:57am
Quoting PoundTrader
25 pips so far

I'll eyeball 1.5609-10 level as that one is an important S level and rumour is that there are important Middle East buyers there

so..there might be a significant bounce at that level but I reckon we see 1.5577 soon after

please be advised that 1.5640 is the 38.2% fibo,1.5609 is the 50% fibo and 1.5577 is the 61.8% fibo

so far price stalled the descent on the 38.2% but GU likes to touch the 50% line before any significant retrace
  • #316,666
  • Jun 18, 2012 5:58am Jun 18, 2012 5:58am
Quoting Makavelli7
hi ben, ill not be selling cable until i see a strong hourly close above 1.5738
Hi there

above ? or below ? could you post a chart please ?
  • #316,667
  • Jun 18, 2012 6:05am Jun 18, 2012 6:05am
I placed a buy order on EU @ 1.2595 TP 1.27 SL just 1.2540

  • #316,668
  • Jun 18, 2012 6:14am Jun 18, 2012 6:14am
Quoting redbeben
25 pips so far

I'll eyeball 1.5609-10 level as that one is an important S level and rumour is that there are important Middle East buyers there

so..there might be a significant bounce at that level but I reckon we see 1.5577 soon after

please be advised that 1.5640 is the 38.2% fibo,1.5609 is the 50% fibo and 1.5577 is the 61.8% fibo

so far price stalled the descent on the 38.2% but GU likes to touch the 50% line before any significant retrace
closed 1/3 @ 30 pips

SL @ BE from now...I wait and maybe leave the platform for today..unless I see the charts screaming at me.
Attached Image (click to enlarge)
Click to Enlarge Name: sellgu.gif Size: 48 KB
  • #316,669
  • Jun 18, 2012 7:52am Jun 18, 2012 7:52am
Quoting redbeben
I placed a buy order on EU @ 1.2595 TP 1.27 SL just 1.2540

triggered @ 50% fibo

praying for 20 pips up as a min...will see will see

I'll close it soon as EU economy is dead
  • #316,670
  • Jun 18, 2012 8:06am Jun 18, 2012 8:06am
Good day to you,

Entering a long here @ 1.5645. Based on 4hr.

Regards
  • #316,671
  • Jun 18, 2012 8:13am Jun 18, 2012 8:13am
Quoting redbeben
triggered @ 50% fibo

praying for 20 pips up as a min...will see will see

I'll close it soon as EU economy is dead
I'll step out of it @ 1.2615-20
closed 1/3 @10 pips
  • #316,672
  • Jun 18, 2012 8:15am Jun 18, 2012 8:15am
Quoting TauTrader
Good day to you,

Entering a long here @ 1.5645. Based on 4hr.

Regards

Hi Mr Tau,

Be careful on H4 there is a gartley .a safer entry long would still be 1.5609 or 1.5577 IMHO

price will now drop to 1.5640 and maybe continue down soon after.

or it could as well shoot up but if EU continues to fall GU will be dragged with it.
  • #316,673
  • Jun 18, 2012 8:21am Jun 18, 2012 8:21am
PA looking bullish
  • #316,674
  • Jun 18, 2012 8:21am Jun 18, 2012 8:21am
Quoting redbeben
Hi Mr Tau,

Be careful on H4 there is a gartley .a safer entry long would still be 1.5609 or 1.5577 IMHO

price will now drop to 1.5640 and maybe continue down soon after.

or it could as well shoot up but if EU continues to fall GU will be dragged with it.
I believe we will look to eu to fall further, maybe another 50pips before a retrace. Looking for lont at 1.5601 gu and 1.2545 eu
  • #316,675
  • Jun 18, 2012 8:22am Jun 18, 2012 8:22am
Quoting redbeben
Hi Mr Tau,

Be careful on H4 there is a gartley .a safer entry long would still be 1.5609 or 1.5577 IMHO

price will now drop to 1.5640 and maybe continue down soon after.

or it could as well shoot up but if EU continues to fall GU will be dragged with it.
EU has dragged a lot to my recknoning and specially considering the fact Ben is tomorrow gbp might jut rally into the event.
  • #316,676
  • Jun 18, 2012 8:29am Jun 18, 2012 8:29am
Quoting redbeben
Hi Mr Tau,

Be careful on H4 there is a gartley .a safer entry long would still be 1.5609 or 1.5577 IMHO

price will now drop to 1.5640 and maybe continue down soon after.

or it could as well shoot up but if EU continues to fall GU will be dragged with it.
Good day to you,

I'm aware this is risky - EU looks ready for a little buy as well - soon. But will manage the trade. Thank you

Regards
  • #316,677
  • Jun 18, 2012 8:32am Jun 18, 2012 8:32am
Quoting Nachiket
EU has dragged a lot to my recknoning and specially considering the fact Ben is tomorrow gbp might jut rally into the event.
Spanish bond yileds 7.16%
Troika may double repayment schedule to 30 years from 15 years on the Irish loans
Portugal is dead and Italy is close to it.

Those are today's facts.Tmr,Ben might talk about the QE3 and market might rally but we just wait and see and only bag small pips.

In this kind of market is a bit dangerous to keep long term trades.

I agree with the 1.2545 area for buyers.

But for GU,so far,PA seems either flat or bearish to me.I hope we'll see soon 1.5609-06 and 1.5577 before the final drop to 1.5420-30
  • #316,678
  • Jun 18, 2012 8:34am Jun 18, 2012 8:34am
Good morning fellas,

Started the week off on a good foot. Took a short at the open yesterday afternoon which payed off retracing back to S at the 1.564x level. Getting that first trade is always good for the psyche.

Waiting now to see which way the market is showing this pair will go now that we've retested that level.
  • #316,679
  • Jun 18, 2012 8:36am Jun 18, 2012 8:36am
Quoting redbeben
Spanish bond yileds 7.16%
Troika may double repayment schedule to 30 years from 15 years on the Irish loans
Portugal is dead and Italy is close to it.

Those are today's facts.Tmr,Ben might talk about the QE3 and market might rally but we just wait and see and only bag small pips.

In this kind of market is a bit dangerous to keep long term trades.

I agree with the 1.2545 area for buyers.

But for GU,so far,PA seems either flat or bearish to me.I hope we'll see soon 1.5609-06 and 1.5577 before the final drop to 1.5420-30

had a short @1.5709 which I closed around 1.5680 but I have a feeling it is really bullish and also the swiss pumping money into it. might just take off to 1.58 tomorrow
  • #316,680
  • Jun 18, 2012 8:37am Jun 18, 2012 8:37am
Quoting redbeben
Spanish bond yileds 7.16%
Troika may double repayment schedule to 30 years from 15 years on the Irish loans
Portugal is dead and Italy is close to it.

Those are today's facts.Tmr,Ben might talk about the QE3 and market might rally but we just wait and see and only bag small pips.

In this kind of market is a bit dangerous to keep long term trades.

I agree with the 1.2545 area for buyers.

But for GU,so far,PA seems either flat or bearish to me.I hope we'll see soon 1.5609-06 and 1.5577 before the final drop to 1.5420-30
talking abtt eu there is a failure to break 1.2580 on the downside and this is good support
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