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Cable Update (GBPUSD)

  • #348,281
  • Oct 7, 2013 7:24pm Oct 7, 2013 7:24pm
Quoting KillerWhale
{quote} I guess IF it goes down from here, 1.61 would become a powerful resistance
Yes that bat pattern has formed massive resistance at previous top.

Will be interesting to see what the next couple of weeks brings coming up to deadline for US Govt.
Even the worst trade can close with profit. Just give it time.
  • #348,282
  • Oct 7, 2013 8:32pm Oct 7, 2013 8:32pm
BTW I also have 1.61 as the weekly pivot
New voice message: Why are you calling me? If I need you, I'll call you!
  • #348,283
  • Oct 7, 2013 9:15pm Oct 7, 2013 9:15pm
Quoting KillerWhale
BTW I also have 1.61 as the weekly pivot
I see that both our analysis are of similar ending. We will see if we can beat GS target of 1.68 by Christmas
Even the worst trade can close with profit. Just give it time.
  • #348,284
  • Oct 7, 2013 9:27pm Oct 7, 2013 9:27pm
Quoting John Gray
{quote} I see that both our analysis are of similar ending. We will see if we can beat GS target of 1.68 by Christmas
Lol, we also have sort of a safety zone now, 1.6088 will probably also act as resistance.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #348,285
  • Oct 7, 2013 9:29pm Oct 7, 2013 9:29pm
Quoting KillerWhale
{quote} Lol, we also have sort of a safety zone now, 1.6088 will probably also act as resistance.
I've never understood all these minor levels 10-15 pips away from each other, But will accept the idea that there is a zone around these major 100 pip levels
Even the worst trade can close with profit. Just give it time.
  • #348,286
  • Oct 7, 2013 9:30pm Oct 7, 2013 9:30pm
Quoting John Gray
{quote} I've never understood all these minor levels 10-15 pips away from each other, But will accept the idea that there is a zone around these major 100 pip levels
I guess my leverage is also to small and my targets too wide to put much emphasis on it
Even the worst trade can close with profit. Just give it time.
  • #348,287
  • Oct 7, 2013 9:43pm Oct 7, 2013 9:43pm
Quoting John Gray
{quote} I guess my leverage is also to small and my targets too wide to put much emphasis on it
My short leverage is about 1:7.3 at the moment, so I'm really on top of it.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #348,288
  • Oct 7, 2013 9:46pm Oct 7, 2013 9:46pm
Quoting KillerWhale
{quote} My short leverage is about 1:7.3 at the moment, so I'm really on top of it.
Well in that case every 0.1 of a pip means a lot

Let's see how the Pound treats us over the next couple of days.
Even the worst trade can close with profit. Just give it time.
  • #348,289
  • Oct 7, 2013 10:18pm Oct 7, 2013 10:18pm
Quoting John Gray
{quote} I've never understood all these minor levels 10-15 pips away from each other, But will accept the idea that there is a zone around these major 100 pip levels
Just like I said, 1.6088 is resistance now.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #348,290
  • Oct 7, 2013 10:59pm Oct 7, 2013 10:59pm
Quoting KillerWhale
{quote} Just like I said, 1.6088 is resistance now.
Well actually the resistence is more like 1.6095-96 but yeah 1.608x is where the price cluster is. Sucks to be long in short term right now.
Make your losses in demo. Earn your profits live.
  • #348,291
  • Oct 8, 2013 12:15am Oct 8, 2013 12:15am
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm15.png Size: 34 KB
  • #348,292
  • Oct 8, 2013 12:19am Oct 8, 2013 12:19am
Quoting edindzeko
{quote} Are you using software to spot this history or doing it all by eye? Its cool either way!
Using my eye! Its how I trade.
  • #348,293
  • Oct 8, 2013 12:33am Oct 8, 2013 12:33am
Quoting KillerWhale
{quote} Just like I said, 1.6088 is resistance now.
GU is grinding slowly, of some interest atm is gold (XAUUSD) H4 approaching an area of interest (descending TL) sometimes takes GU with is if it pops down.

Will know in 10 hrs..

G/L
  • #348,294
  • Oct 8, 2013 12:53am Oct 8, 2013 12:53am
Quoting JimmyC
{quote} GU is grinding slowly, of some interest atm is gold (XAUUSD) H4 approaching an area of interest (descending TL) sometimes takes GU with is if it pops down. Will know in 10 hrs.. G/L
Why, what's happening in 10 hours?
  • #348,295
  • Oct 8, 2013 12:57am Oct 8, 2013 12:57am
Quoting JimmyC
{quote} Could still be a last kiss good bye..{image}
GU4H

Either an ST correction or reversal of trend will continue
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 34 KB
  • #348,296
  • Oct 8, 2013 1:02am Oct 8, 2013 1:02am
GU15

My play for the day....

The break of 1.613 voids my short @1.622 and will TP

Watch for the fake - out trade (brake of 1.606) could signal a ST Long In Range to 1.609
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm15.png Size: 50 KB
  • #348,297
  • Oct 8, 2013 1:04am Oct 8, 2013 1:04am
Quoting DrNoStopLoss
{quote} Why, what's happening in 10 hours?
Time has passed and we've got more PA to tell us where we're going (nothing clever)

I'm outta here...

G/L (and use a stop loss)
  • #348,298
  • Oct 8, 2013 2:33am Oct 8, 2013 2:33am
Does anyone think Cable can reach 1.5880 this week?
  • #348,299
  • Oct 8, 2013 3:00am Oct 8, 2013 3:00am
Am @ first level of interest
watching on GU15 for potential entry

@Chris, anything is possible, will depend on whether fundies continue to drive the trend
  • #348,300
  • Oct 8, 2013 3:05am Oct 8, 2013 3:05am
EUR/GBP has broken out of a short term trading range and heading north. This should see more GU weakness
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