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-   -   Cable Update (GBPUSD) (http://www.forexfactory.com/showthread.php?t=10378)

jimo Dec 5, 2006 2:17am | Post# 721

form tradethenews
 
form tradethenews
TECHNICAL CHARTISTS SEES CONSOLIDATION RANGE OF 1.9710 TO 1.9810 IN THE SHORT TERM

Yacob Dec 5, 2006 2:37am | Post# 722

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Do you think the trendline will break? This is the 4th time price testing at the support..
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Yacob Dec 5, 2006 2:40am | Post# 723

oh just break..

ert Dec 5, 2006 2:45am | Post# 724

oh just break..
sorry just a beginner here..but does it mean it will go down?

mickeymickey Dec 5, 2006 2:50am | Post# 725

Do you think the trendline will break? This is the 4th time price testing at the support..
The price went through that trendline and reached 9755 just a few minutes ago. Is this the time to short?

Yacob Dec 5, 2006 2:57am | Post# 726

maybe.. but sometimes it will give false breakout...

jimo Dec 5, 2006 2:58am | Post# 727

i think it cant break will back again its my idea ....

ronhickey Dec 5, 2006 2:59am | Post# 728

however all the EW guys are saying 9660ish, the question is who do we listen too?

i have very small short, lets see what happens

just checked again, im now gettin paid by my short.
(fingers crossed)

c1ro Dec 5, 2006 3:15am | Post# 729

sorry just a beginner here..but does it mean it will go down?
Hi ert,

I think it's not that simple to see that cable will turn down for now. Cos what I see in the chart, it's a 30 mins chart. U should take a look at the bigger picture to see whether the market wanna makes a reversal. It seems like cable is trading in a range and wait for break out. But who knows it would be an up or down move. But what I can see in TD lines, it's under the supply line

ronhickey Dec 5, 2006 3:19am | Post# 730

falling hard now

bounced at the previos low

fxpinoy Dec 5, 2006 3:20am | Post# 731

It's making a push now down to 1.9737. I think I'm gonna sit for now and wait for the news to come in later at 4:30 EST.

fxpinoy Dec 5, 2006 3:20am | Post# 732

I will try to make a long from here and S/L @ 1.9700

ronhickey Dec 5, 2006 3:21am | Post# 733

wait for the neews?

(i closed my short for +17pips)
quick dollar made.

im waiting for the news before i buy again. hopefully it will bring us .9660 for a good long signal

selveen Dec 5, 2006 3:26am | Post# 734

Break of previous support line
 
Price has just broken the 1.9750 support line on 15 mins chart, lets see if that is a false break or not. If it does, next resistance line is 1.9700. 1hrs charts is already in oversold area. The overall trend on daily is still up, therefore this will be a good opportunity to go long, if price do not break 1.9700. Again, some news related to GBP is coming out today, I'll stay away until news comes out.

c1ro Dec 5, 2006 3:29am | Post# 735

This is what FOREXYARD says,

The daily chart remains very bullish with oscillators indicating overbought condition, while on the intra day charts here too a negative divergence is being formed. Hourly Bollinger Bands are very tight and the risk is for the down side, with the significant 2.00 psychological resistance level in the horizon is very high. We recommend taking a break with current pair's long position, but definitely not shorting it.


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