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Cable Update (GBPUSD)

  • #323,381
  • Sep 4, 2012 2:37am Sep 4, 2012 2:37am
Quoting nAVIN2007
dont get caught!!..
I wont Nav, trade whats in front of the eyes and like you, I see min 1.62 some time near future
  • #323,382
  • Sep 4, 2012 2:43am Sep 4, 2012 2:43am
Last week is August

This week is September



Quoting nAVIN2007
weekly printed an indecision formation..last week..this week we have broken the high of last week

direction is up!
not euphoria follower
  • #323,383
  • Sep 4, 2012 3:02am Sep 4, 2012 3:02am
Quoting gavalar
I wont Nav, trade whats in front of the eyes and like you, I see min 1.62 some time near future

not saying it wont go down but dont enter cause of sake of a 61.8..it has to line with confluence and ofcourse the right direction
  • #323,384
  • Sep 4, 2012 3:15am Sep 4, 2012 3:15am
i will surprised if it does not retrace this week, it has cost a lot of panic
The fragrance remains in the hands of those that gves the rose
  • #323,385
  • Sep 4, 2012 3:17am Sep 4, 2012 3:17am
Quoting okosodo
i will surprised if it does not retrace this week, it has cost a lot of panic
what do you mean?
  • #323,386
  • Sep 4, 2012 3:19am Sep 4, 2012 3:19am
Quoting okosodo
i will surprised if it does not retrace this week, it has cost a lot of panic
can i ask why u would be surprised and better than this can u back it up with a chart?..i bet u cant..why?

because its what u think! ..that never matters, it needs to be in the charts to materialise
  • #323,387
  • Sep 4, 2012 3:22am Sep 4, 2012 3:22am
if you look at a previous post from yesterday and my h4 chart earlier, there is a strong possibility for a retrace to 1.5835 but that will all be within the general uptrend. I would not be surprised to see that level hit nor will I be surprised if it breaks the upper tl as longer term charts indicate minimum of 1.62
  • #323,388
  • Sep 4, 2012 3:29am Sep 4, 2012 3:29am
That's what the market does to most people, causes panic and they loose money..very few who read the charts correctly come out on top !!


Quoting okosodo
i will surprised if it does not retrace this week, it has cost a lot of panic
  • #323,389
  • Sep 4, 2012 3:35am Sep 4, 2012 3:35am
Lots of Bearish divergence on the CCI and STOCH on the daily and hourly charts...

this is september, we might see a wave 3-ish decline if the fed and ECB disappoints...

but that's just what I think, doesn't matter if it doesn't materialise in the charts! )
Build good relationships with others.
  • #323,390
  • Sep 4, 2012 3:45am Sep 4, 2012 3:45am
i think we will see a bull rally overall, the chart is looking healthy, i see this pair going all the way up to 1.59827, right now i wont short this pair.. but i have learnt not to trade news, but im bullish on GBP/USD... big trading day, waiting for US sesion to bag some good pips!
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #323,391
  • Sep 4, 2012 3:49am Sep 4, 2012 3:49am
Quoting gavalar
what do you mean?
i mean it has been bouncing for too long, thereby causing panic. It would therefore be surprising if it goes long
The fragrance remains in the hands of those that gves the rose
  • #323,392
  • Sep 4, 2012 3:54am Sep 4, 2012 3:54am
3 charts..

usd strength decreasing..easy path set is to go lower
pound strength, interesting right side of dip is higher than left..chart shows we are at a breakout area where price is looking to break this resistance set on gbp strength..

the the cable chart itself:- u can see very clearly price has broken out of triangle..target it mush higher
the problem with short its not supported in the charts..infact..the target has been seen already and played out..look at the left side of chart (my chart) and see the matching lows on the left (purple rectangle) thats support..price came close to this point and as suspected buyers entered..
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  • #323,393
  • Sep 4, 2012 3:57am Sep 4, 2012 3:57am
Quoting okosodo
i mean it has been bouncing for too long, thereby causing panic. It would therefore be surprising if it goes long
Well, I went long on the sma 200 1.58909 on m5, looking for 10 - 15 pip scalp...its all subjective of course to each trader what they see, so tight sl on this
  • #323,394
  • Sep 4, 2012 3:57am Sep 4, 2012 3:57am
Quoting nAVIN2007
3 charts..

usd strength decreasing..easy path set is to go lower
pound strength, interesting right side of dip is higher than left..chart shows we are at a breakout area where price is looking to break this resistance set on gbp strength..

the the cable chart itself:- u can see very clearly price has broken out of triangle..target it mush higher
you saying we can break the 1.6000 area this week
  • #323,395
  • Sep 4, 2012 3:58am Sep 4, 2012 3:58am
my view is 1,5875 long again 70% probability that price break the max of this morning?
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  • #323,396
  • Sep 4, 2012 4:04am Sep 4, 2012 4:04am
Quoting PoundTrader
you saying we can break the 1.6000 area this week

no not exactly..but if cable breaks this area which in on the agenda..gbp strength will increase..usd will drop imho..

euro and gold will take this much higher i personally see a lot of people entering at 1.6..it wasnt respected last time we saw it..and the scenero is such that it may blow past it..

i see a retest of 1.63 near term

many stops are above 1.63..1.64 i see as a real possibility
  • #323,397
  • Sep 4, 2012 4:33am Sep 4, 2012 4:33am
Quoting PoundTrader
you saying we can break the 1.6000 area this week
Your SL still holds @5930?
Believe what you see instead of what you think!
  • #323,398
  • Sep 4, 2012 4:41am Sep 4, 2012 4:41am
Quoting PoundTrader
now im short at 1.5738, 1.5755, 1.5777. and 1.5801, s/l 1.5933, t/p 1.5640. this is it for me, holding trade till s/l or t/p get hit, if s/l get hit it will whipe my account out
jasm i been out of these trades last week at 1.5773
  • #323,399
  • Sep 4, 2012 4:45am Sep 4, 2012 4:45am
Quoting PoundTrader
jasm i been out of these trades last week at 1.5773
im must say i am short at 1.5904, s/l 1.5925, t/p 1.5806
  • #323,400
  • Sep 4, 2012 4:47am Sep 4, 2012 4:47am
Quoting PoundTrader
jasm i been out of these trades last week at 1.5773

u the only one i know who can try blow an account and make money

unless the account blow meant account increase in size
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