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Cable Update (GBPUSD)

  • #337,681
  • Mar 26, 2013 12:58am Mar 26, 2013 12:58am
crap.....just saw a news came out.......


"Shorting around 1.5200 with a stop above 1.5250 and a target at 1.5000 would yield a pretty good reward-to-risk ratio for a trade until the middle of the week"

sad..........should i close it and take profit?

http://www.tradersway.com/index.php/..._march_26_2013
  • #337,682
  • Mar 26, 2013 1:09am Mar 26, 2013 1:09am
Quoting Gbpnewbird
crap.....just saw a news came out.......


"Shorting around 1.5200 with a stop above 1.5250 and a target at 1.5000 would yield a pretty good reward-to-risk ratio for a trade until the middle of the week"

sad..........should i close it and take profit?

http://www.tradersway.com/index.php/..._march_26_2013
If you ask for my point of view , yep USDX is going to push it down or even down more if break the solid support around your entry .
If you just ask someone , don't care to my view lol . Anyway be careful !
  • #337,683
  • Mar 26, 2013 1:10am Mar 26, 2013 1:10am
Nice bearish engulfing candle on the 1hr chart which has been confirmed by price breaking its low.

There is also the head and shoulders inpatient was talking about yesterday.
  • #337,684
  • Mar 26, 2013 3:43am Mar 26, 2013 3:43am
Another day for range traders. We are not going to see any big movement at least in London Section. Even in NY section, the range of 15150 - 15250 is still valid - hard to break.
  • #337,685
  • Mar 26, 2013 3:44am Mar 26, 2013 3:44am
Quoting ForexRatVN
Another day for range traders. We are not going to see any big movement at least in London Section. Even in NY section, the range of 15150 - 15250 is still valid - hard to break.
Got UK data at 7. GBP has been a bit sensitive. Agree with the range.
When the facts change I change my mind, what do you do sir
  • #337,686
  • Mar 26, 2013 3:46am Mar 26, 2013 3:46am
Quoting Pip Anon
Got UK data at 7. GBP has been a bit sensitive. Agree with the range.
Agreed with "a bit", just a bit. will buy if 15150 hit or sell if 15250 approaching
  • #337,687
  • Mar 26, 2013 4:04am Mar 26, 2013 4:04am
Quoting Pip Anon
Got UK data at 7. GBP has been a bit sensitive. Agree with the range.
Cable slow to react as normal. Those are not good figures to release
  • #337,688
  • Mar 26, 2013 4:20am Mar 26, 2013 4:20am
ِDespite most of traders, I believe in the below analysis. It is going down to form the head and shoulders...
Attached Image (click to enlarge)
Click to Enlarge Name: GBP.jpg Size: 131 KB
  • #337,689
  • Mar 26, 2013 4:22am Mar 26, 2013 4:22am
1.5253 was a strong resistance
  • #337,690
  • Mar 26, 2013 4:25am Mar 26, 2013 4:25am
Cable is going to break this range and touch 1.5060 and then below 1.50.

Quoting ForexRatVN
Another day for range traders. We are not going to see any big movement at least in London Section. Even in NY section, the range of 15150 - 15250 is still valid - hard to break.
  • #337,691
  • Mar 26, 2013 4:31am Mar 26, 2013 4:31am
Quoting Maso
ِDespite most of traders, I believe in the below analysis. It is going down to form the head and shoulders...
Attachment
Good Analysis dear , it is
  • #337,692
  • Mar 26, 2013 4:31am Mar 26, 2013 4:31am
Honestly, I don't load long. Cable is very poor this week, even touch below 1.48.

Quoting Ziko9o8
- Thanks Maso;

- You could add long @ 1.5165 OR be patient for 1.5130

- Your take profit u have 2 scenarios:-

1) If u see them in a rush(spiked) to score the 1.5260 take ur profit with them.

2) If Mr. Market keeps attacking (accumulating) around 1.5250 then there is a good chance to visit 1.5315

- Cheers.
  • #337,693
  • Mar 26, 2013 4:52am Mar 26, 2013 4:52am
Seem that after yesterday's correction, the cable is all geared up to make quit a good
down run. if it breaks yesterday's low the we may see it touching 1.5100.
Danny
  • #337,694
  • Mar 26, 2013 4:53am Mar 26, 2013 4:53am
Attached Image (click to enlarge)
Click to Enlarge Name: GBP.jpg Size: 109 KB
  • #337,695
  • Mar 26, 2013 5:30am Mar 26, 2013 5:30am
These are the levels I see to the south 5100, 5080-5070 area then 5045 (should be somehow strong+bounce and retest is very possible) then finally 5000 (wasn't very strong the last time when price was hanging out around it but I think we should find it a lot stronger this time)

lets watch and see..

Good luck to all.
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #337,696
  • Mar 26, 2013 5:40am Mar 26, 2013 5:40am
i think it may down to 1.4920 as its support to retest and form the head and shoulder in that level.
  • #337,697
  • Mar 26, 2013 5:49am Mar 26, 2013 5:49am
But H1 in the reversal pattern :]

Quoting willi1904
i think it may down to 1.4920 as its support to retest and form the head and shoulder in that level.
  • #337,698
  • Mar 26, 2013 6:03am Mar 26, 2013 6:03am
And D1 shows a strong falling point
Quoting airafx
But H1 in the reversal pattern :]
  • #337,699
  • Mar 26, 2013 6:28am Mar 26, 2013 6:28am
Quoting Maso
And D1 shows a strong falling point
Time Frame wars.. lol
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #337,700
  • Mar 26, 2013 7:22am Mar 26, 2013 7:22am
Just woke up.

Weak US data, pound falling? Gotta love Forex and how its so easy to predict NOT
Money never sleeps...
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