Cable Update (GBPUSD)

Quoting PoundTrader

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{quote} So many traders trying to sell at the top instead of them waiting for the downtrend to be confirm

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Quoting forexalien

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{quote} That is how 95% retail traders think, even I have had trouble changing my thinking to run with the trend.............buy on dips, wait for momentum.........

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Quoting Crazy-Trader

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{quote} No dips on this move... Market will go straight to the target. (99% sure)

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Quoting Kajos2250

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GU H4 GMT+3 If it suceed to close above ~6413 add even more long trade, invalidation point at ~ 6364. Good luck! {image}

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Quoting forexalien

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{quote} We should add then, buy on the pauses that the market gives us. When price holds, keep buying............

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Quoting GlobalMacro

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Here we go... Cable's last drive for the week through NFP playoffs: So far this week trading has been tied in a narrow range. Halifax home prices may well have kicked the winning field goal this morning but first milestone still remains overhead which needs to break in order for bulls to claim sustained victory. All we as bulls have to do is break down bears' defense line by simply keeping at it and sweeping all over sell limits littering the road north....because, darn it, it's about time, already. Still carrying my long position @ 1.6333 and 1.6376...

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Quoting GlobalMacro

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{quote} Hello Thread, More than a week long stall seems to be over. Now the focus is on 1.6450 barrier ... Long positions +ve 100 & +ve 57 pips here @ 1.6433 Will continue to carry my long positions.

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Quoting PipTrapper

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{quote} Yes last December was very bullish Cable... and this year we've already busted through the Jan1 high. However, 1.6550 is where I draw the line for this push up until we get a nice pullback. I definitely will not be looking to add any significant longs from this level. Just little ones to supplement my big one at 6242. So, turnaround points look likely to be between 6450 and 6550 somewhere.

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Quoting Baggi

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{quote} Pardon my ignorance, GM, but could you explain the following please. +ve 100 & +ve 57 pips here @ 1.6433 Specifically, what does +ve mean?

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Quoting GlobalMacro

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{quote} No problem at all. +ve is abbreviation for positive. (referring to my open P&L on the long trade) P.S. Baggi, I see you're still running your longs as well, congrats!

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Quoting JimmyC

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Howzit GU GU 1H The intraday punters will be interested in the following chart. Cable has been technically very reactive if you were on top of your technical game. The NFP theme has left us with a weakening dollar, so I would bias the upside trade. {image} GU 4H {image} GU Daily {image} GU Weekly {image} GU Monthly {image}

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Quoting Baggi

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{quote} Indeed I am. Even bought a little more down in the 6330 range. However, depending on this hourly close coming up in ten minutes, I'm considering a short term correction sell. I think we have more up to go, but the way these doji's are forming, I think we're looking at 10 to 30 pip correction before heading back up.

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Quoting Crazy-Trader

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{quote} Price Action doesn't need chart... Price is unstoppable!

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Quoting forexalien

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{quote} That is how 95% retail traders think, even I have had trouble changing my thinking to run with the trend.............buy on dips, wait for momentum.........

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Quoting PipTrapper

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{quote} Looks like Cable is heading for my target selling zone. Fingers crossed. I took another small buy at 6406 after a break of the last swing high. I closed my 6242 long on Friday anticipating a nice pullback after such a taper inspiring number, but unfortunately I got fooled along with the crowd. So 6406 is a lone ranger till I see a top.

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Quoting fxtyrant

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{quote} H4 swing on the up move so dont be surprised if it tests this week's high around 1.6420

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