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Cable Update (GBPUSD)

  • #440,961
  • Sep 20, 2016 7:15am Sep 20, 2016 7:15am
Quoting jecklom
GBPUSD Trend Index ... {image}
Confirmation...
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Study and risk taking are the engine & fuel that will propel you to success
  • #440,962
  • Sep 20, 2016 7:22am Sep 20, 2016 7:22am
Quoting Don96
{quote} it was 1.7%... very bad
yes it is. so what will happen nzd (cash rate) what do you think?

i think nz cash rate will stay as its forecast (except usd rate hike situation.)

they decide cash rate according to FOMC results. that is why NZ bank explain cash rate 2.5 hours after that result.
  • #440,963
  • Edited 8:04am Sep 20, 2016 7:54am | Edited 8:04am
The price of cable has not been this low since the middle of August. The question is will it continue lower today or will it retrace before going lower perhaps tomorrow?
Striving for consistency
  • #440,964
  • Sep 20, 2016 8:05am Sep 20, 2016 8:05am
welcome 1.2865
  • #440,965
  • Sep 20, 2016 8:05am Sep 20, 2016 8:05am
Quoting Wdfx
The price of cable has not been this low since the middle of August. The question is will it continue lower today or will if retrace before going lower perhaps tomorrow?
I'm thinking we may see a retrace tonight/tmr as players consolidate and prepare for news release.

Currently i'm about 60% leaning towards a consolidation at 'equilibrium' around 1.3150-70.
  • #440,966
  • Sep 20, 2016 8:13am Sep 20, 2016 8:13am
Quoting P.Action
1.3277 is very important for now. good short point with 1.2950 target {image}
  • #440,967
  • Sep 20, 2016 8:34am Sep 20, 2016 8:34am
It seems to me if you want to get in short now would be a good time, Above 2980 it may continue long
Striving for consistency
  • #440,968
  • Sep 20, 2016 8:34am Sep 20, 2016 8:34am
Day candle could turn out to be a false break ?
  • #440,969
  • Sep 20, 2016 8:35am Sep 20, 2016 8:35am
Price is very close to the bottom of the channel. There's a high chance of price going back up to 3500 area.

However, if price breaks that trendline, look for 2623, the lower trendline on the weekly bearish channel
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  • #440,970
  • Sep 20, 2016 8:41am Sep 20, 2016 8:41am
Quoting Sammih
Price is very close to the bottom of the channel. There's a high chance of price going back up to 3500 area. {image}
If this day candle doe by some chance close above 3068 is then we know I would say and I posted gb won't go up until gbj go to 131.700
  • #440,971
  • Sep 20, 2016 8:42am Sep 20, 2016 8:42am
Quoting Sammih
Price is very close to the bottom of the channel. There's a high chance of price going back up to 3500 area. {image}
Looking at the same. Decided to buy good risk/reward right now. Stop about 50 pips lower than the channel.
  • #440,972
  • Sep 20, 2016 8:42am Sep 20, 2016 8:42am
Quoting Sammih
Price is very close to the bottom of the channel. There's a high chance of price going back up to 3500 area. {image}
For me I am only interested in where it is going to go in the next 4 hours perhaps in the next day certainly no further out than a week. Yes it may get back to 3500 but it may take a month or more.
Striving for consistency
  • #440,973
  • Sep 20, 2016 8:45am Sep 20, 2016 8:45am
Quoting FSUtrader
{quote} Looking at the same. Decided to buy good risk/reward right now. Stop about 50 pips lower than the channel.
Thats a good trade. The RRR is out of this world
I'm high on trading, cant you tell?
  • #440,974
  • Sep 20, 2016 8:48am Sep 20, 2016 8:48am
Quoting Wdfx
{quote} For me I am only interested in where it is going to go in the next 4 hours perhaps in the next day certainly no further out than a week. Yes it may get back to 3500 but it may take a month or more.
Yes yes. I day trade too, small intraday moves, but having the bigger picture never hurts, in fact, it gives one peace of mind, and that reflects on the trades P/L statement. I'd say if we turn, it will take 2-3 weeks to get there(3500). So of course ill keep my longs longer and cut my shorts faster; you get the drill
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  • #440,975
  • Sep 20, 2016 8:49am Sep 20, 2016 8:49am
need 1.30 break for reversal.

too early, too much risk.

R:R is high for long, and you have time...
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  • #440,976
  • Sep 20, 2016 8:51am Sep 20, 2016 8:51am
Long GN 1.77 TP 1.9
  • #440,977
  • Sep 20, 2016 8:51am Sep 20, 2016 8:51am
What do the golfers say : be right ;
  • #440,978
  • Sep 20, 2016 8:55am Sep 20, 2016 8:55am
be careful longs, still have some space IMHO

(maybe last leg down)

I would be VERY cautious -given the USD strength- ...!
(it is your money anyway)
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  • #440,979
  • Sep 20, 2016 8:56am Sep 20, 2016 8:56am
Quoting nairate
Long GN 1.77 TP 1.9
SL?
I'm high on trading, cant you tell?
  • #440,980
  • Sep 20, 2016 9:00am Sep 20, 2016 9:00am
Quoting openyoureyes
be careful longs, still have some space IMHO (maybe last leg down) I would be VERY cautious -given the USD strength- ...! (it is your money anyway) {image}
Already In for some
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