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Cable Update (GBPUSD)

  • #352,001
  • Nov 6, 2013 3:54am Nov 6, 2013 3:54am
Its look like 5 wave impulse. If that proved valid then after good retrace more stronger bulls are coming. BTW I expect at least 50% retrace of this bull run first.

Attached Image (click to enlarge)
Click to Enlarge Name: GU.png Size: 35 KB
Never test the depth of water with both feet.
  • #352,002
  • Nov 6, 2013 3:54am Nov 6, 2013 3:54am
anyone thinking about starting short position here?

it seems really strong bullish again

they're buying 1,6100 just now

weak resistence become soon strong support, isn't it?
Don't give up
  • #352,003
  • Nov 6, 2013 3:57am Nov 6, 2013 3:57am
Quoting fxlover11
BTW I expect at least 50% retrace of this bull run first
1,6000 area?
Don't give up
  • #352,004
  • Nov 6, 2013 4:00am Nov 6, 2013 4:00am
Quoting geomink
{quote} 1,6000 area?
May be. I am expecting.
Never test the depth of water with both feet.
  • #352,005
  • Nov 6, 2013 4:01am Nov 6, 2013 4:01am
Quoting geomink
anyone thinking about starting short position here? it seems really strong bullish again they're buying 1,6100 just now weak resistence become soon strong support, isn't it?

Iīve read someoneīs Golden Forex Rules, and one was "Donīt add to losers!". Right now trend direction is unclear, especially with more EU news coming. I wouldnīt short until news have passed and trend has clearly turned downwards.
  • #352,006
  • Edited 5:13am Nov 6, 2013 4:02am | Edited 5:13am
Have to admit still short at the moment running a loss of around 60 pips and have a stop loss of over 100 pips. I have resistance at the 1.6120 and resistance at the 1.6170 set by short term volume spike. Its long term trade but have with the stop at the 1.6170.

We will see. We are mostly right just at the wrong time.........
  • #352,007
  • Nov 6, 2013 4:30am Nov 6, 2013 4:30am
they are buying again

where do they want to go ?!?!?
Don't give up
  • #352,008
  • Nov 6, 2013 4:32am Nov 6, 2013 4:32am
Quoting Tiyaga
just wanna try short now for GU
Wait for it to go below 1.6070 first then look for a sell setup not now.
  • #352,009
  • Nov 6, 2013 4:34am Nov 6, 2013 4:34am
Quoting okanemici
{quote} Wait for it to go below 1.6070 first then look for a sell setup not now.
agreed. bnp is looking to fade the rally around 1.6110.
  • #352,010
  • Nov 6, 2013 4:35am Nov 6, 2013 4:35am
there is some talk of a large option expiry @1.6100
  • #352,011
  • Nov 6, 2013 4:37am Nov 6, 2013 4:37am
Quoting giveachance
there is some talk of a large option expiry @1.6100
what does it mean in term of intraday trading?

thank you
Don't give up
  • #352,012
  • Nov 6, 2013 4:39am Nov 6, 2013 4:39am
Quoting geomink
{quote} what does it mean in term of intraday trading? thank you

actually that means nothing. it depends on how much qty worth the options are. ideally if they are put options it should be rangebound with a downward bias. depending on the amt the range can be wide
  • #352,013
  • Nov 6, 2013 4:40am Nov 6, 2013 4:40am
Quoting giveachance
{quote} actually that means nothing. it depends on how much qty worth the options are. ideally if they are put options it should be rangebound with a downward bias. depending on the amt the range can be wide
thx
Don't give up
  • #352,014
  • Nov 6, 2013 4:46am Nov 6, 2013 4:46am
Quoting nappenbir
monthly {image} 8h {image}
It hasn't breached upper trend line earlier, so why this time?
  • #352,015
  • Nov 6, 2013 5:13am Nov 6, 2013 5:13am
now cosolidation area around 6100

after that another leg up or falling down?

this is the question?

Don't give up
  • #352,016
  • Nov 6, 2013 5:14am Nov 6, 2013 5:14am
Quoting suthmo
Are we there yet, are we there yet, are we there yet? Bored.com I may have to go over to the euro thread and start a fight to liven things up.
And we're there.
Founder of Sutherland Wave Principle
  • #352,017
  • Nov 6, 2013 5:29am Nov 6, 2013 5:29am
Quoting geomink
now cosolidation area around 6100 after that another leg up or falling down? this is the question?

I think we have got 1 more leg up,bec the NIESR GDP estimate and tomorrow the BOE Interest rate decision.
  • #352,018
  • Nov 6, 2013 5:29am Nov 6, 2013 5:29am
Quoting suthmo
1.6106 is still M.I.A then it was 59934 and then 6073 NO price left behind we have to go in and rescue 6106 lol
Done
Attached Image (click to enlarge)
Click to Enlarge Name: 11.06.13 1330 view GBP.png Size: 43 KB
Founder of Sutherland Wave Principle
  • #352,019
  • Nov 6, 2013 5:35am Nov 6, 2013 5:35am
if we look at the past this 1.5960 has been a complete b$%3tch..sometimes is blazes past others bounce..i think from a technical picture it had a chance to break but news simply is giving strength..i think this for me is major change in the market it appear to be quite responsive to news..news bound
  • #352,020
  • Nov 6, 2013 5:43am Nov 6, 2013 5:43am
Quoting suthmo
{quote} Done {image}
are you entered short just now?
Don't give up
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