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Cable Update (GBPUSD)

  • #321,641
  • Aug 16, 2012 7:38am Aug 16, 2012 7:38am
Quoting bguguen
dude.... i need to be confident in myself or guys in here can easily eat me up alive...
but lately i've been quite chilled...
work during summer has totally took a toll on my health...
so now you tell me is your broker says 1.5713 is today high?already told you ,you are always over confident
Sometimes it's better to be wrong,to learn..
  • #321,642
  • Aug 16, 2012 7:46am Aug 16, 2012 7:46am
look like she wanna take off long, this could be a sign
  • #321,643
  • Aug 16, 2012 7:47am Aug 16, 2012 7:47am
Quoting Makavelli7
OOPS!!! look what just happened to them Bears!!! AAARGGH I cant watch this

Inserted Video
  • #321,644
  • Aug 16, 2012 7:51am Aug 16, 2012 7:51am
Quoting Makavelli7
OOPS!!! look what just happened to them Bears!!! AAARGGH I cant watch this
the bull press on 2nd NOS
  • #321,645
  • Aug 16, 2012 7:58am Aug 16, 2012 7:58am
Quoting PoundTrader
look like she wanna take off long, this could be a sign
still say we see 1.5598 by friday
  • #321,646
  • Aug 16, 2012 8:20am Aug 16, 2012 8:20am
Quoting PoundTrader
still say we see 1.5598 by friday
I got a long there as well on H4 demand. Failing that, there's this yellow D1 area that hasn't been tested and a price could fall quickly to it if there's a stop cascade.

Looks very compressed.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 38 KB
  • #321,647
  • Aug 16, 2012 8:20am Aug 16, 2012 8:20am
Quoting PoundTrader
still say we see 1.5598 by friday
what makes you sure
  • #321,648
  • Aug 16, 2012 8:22am Aug 16, 2012 8:22am
Quoting PoundTrader
still say we see 1.5598 by friday
Hmmmmm
The only way not to think about money is to have a great deal of it
  • #321,649
  • Aug 16, 2012 8:42am Aug 16, 2012 8:42am
Quoting julia2011
what makes you sure
if i was 100% sure il be a billionaire http://www.easyfreesmileys.com/smile...mileys-203.gif
  • #321,650
  • Aug 16, 2012 8:54am Aug 16, 2012 8:54am
Quoting PoundTrader
still say we see 1.5598 by friday
wouldnt surprise me. 57640 top tl and h4 200 ema and then poss back down. if it breaks 38.2 fibo, we will see 5596....but if it actuallybreaks top tl then
  • #321,651
  • Aug 16, 2012 8:56am Aug 16, 2012 8:56am
ok ,,i'm sure 100%
we visit 5680
60 pips
Quoting PoundTrader
if i was 100% sure il be a billionaire http://www.easyfreesmileys.com/smile...mileys-203.gif
  • #321,652
  • Aug 16, 2012 8:56am Aug 16, 2012 8:56am
See the move up as a temporary counter trend move and waiting for the pair to get to resistance at 1.5770 (form a reversal pattern there: 123 or candle pattern or mini head and shoulders) and then go short.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd reversal.gif Size: 34 KB
  • #321,653
  • Aug 16, 2012 8:57am Aug 16, 2012 8:57am
bored... still holding buy t/p 5800
  • #321,654
  • Aug 16, 2012 8:59am Aug 16, 2012 8:59am
ATR done and in supply. Inside bars, long legged doji's, pin bars...

What else is it gonna take. Maybe the Philly Fed Manufacturing index.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd m15.gif Size: 30 KB
  • #321,655
  • Aug 16, 2012 9:05am Aug 16, 2012 9:05am
Really messed up my head today, some of the things does'nt make sense to me.. Maybe I'm a beginner, thats why.. Anyway, a wise man said to me a long time ago, even if you're messed up at any particular trading day, just execute you're trade plans that you've been planning at the start of the week, don't think about anything else.. So I took this trade, hope you guys can give some opinion..

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: guh1.gif Size: 18 KB
  • #321,656
  • Aug 16, 2012 9:06am Aug 16, 2012 9:06am
i can see very strong bias SELL...
  • #321,657
  • Aug 16, 2012 9:10am Aug 16, 2012 9:10am
Quoting julia2011
ok ,,i'm sure 100%
we visit 5680
60 pips
what makes you 100% sure then?
  • #321,658
  • Aug 16, 2012 9:11am Aug 16, 2012 9:11am
Quoting Madscientist
Really messed up my head today, some of the things does'nt make sense to me.. Maybe I'm a beginner, thats why.. Anyway, a wise man said to me a long time ago, even if you're messed up at any particular trading day, just execute you're trade plans that you've been planning at the start of the week, don't think about anything else.. So I took this trade, hope you guys can give some opinion..

Regards
Your positioned pretty much the same as me and i have a decent amount of confidence on these shorts.

recent news has seen the GBP and EUr show strength against the dollar but the overall picture is not good for the Euro and in particular there are likely problems coming ofr the EUR very soon. Spain are about to announce the need for help, greece are about to default on expectations and this will drag the Euro back to recent lows at least. The pound will somewhat be dragged there with it.

I know many here as i have read are more bullish but for me i see bull moves capped at 1.575-6, from here we see at least 1.559 (maybe even this week)
Money never sleeps...
  • #321,659
  • Aug 16, 2012 9:14am Aug 16, 2012 9:14am
by Madscientist


also i think it a good idea to remember your intentions from the beginning of the week. I write mine down as a reminder, sometimes small insignificant things can change sway your judgement or you can accept too much of others opinions, it is in the ned your trade account and should be based on your opinion.

Very wise that wise man me thinks,
Money never sleeps...
  • #321,660
  • Aug 16, 2012 9:18am Aug 16, 2012 9:18am
Quoting inpatient
Your positioned pretty much the same as me and i have a decent amount of confidence on these shorts.

recent news has seen the GBP and EUr show strength against the dollar but the overall picture is not good for the Euro and in particular there are likely problems coming ofr the EUR very soon. Spain are about to announce the need for help, greece are about to default on expectations and this will drag the Euro back to recent lows at least. The pound will somewhat be dragged there with it.

I know many here as i have read are more bullish...
Yeah you're right the fundies is pointing for a drop in eu/gu but there is still room for an upside in gbpusd (judging from the uptrend channel, maybe I drawed it wrong). Got into some short position in some of the majors, hope we'll see a drop in the short term.. Anyway the not so fresh demand area I've drawed is pretty much holding up, but it can be broken any time soon..

Regards
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