Cable Update (GBPUSD) | Page 714 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #14,261
  • Jun 4, 2007 4:31am Jun 4, 2007 4:31am
Am short on major bearish divergence on 4 hour chart. Going for 9700, will take partial profit there and go for 9600. Entry is at 9865 and stop is 9910
  • #14,262
  • Jun 4, 2007 5:11am Jun 4, 2007 5:11am
i see a break upward from the diamond. hm.

Quoting Takisd
Am short on major bearish divergence on 4 hour chart. Going for 9700, will take partial profit there and go for 9600. Entry is at 9865 and stop is 9910
Nihil Sine Deo.
  • #14,263
  • Jun 4, 2007 5:22am Jun 4, 2007 5:22am
did i say my trade was based on the diamond?
  • #14,264
  • Jun 4, 2007 5:39am Jun 4, 2007 5:39am
Trading divergence in anticipation is one hard task imo. Although the divergence is eventually solved, it's hard to anticipate how much more it can be stretched.
  • #14,265
  • Jun 4, 2007 5:45am Jun 4, 2007 5:45am
I agree with Cesarnc or rather have found out the hard way that it's hard to trade divergence. It does work much of the time on most timeframes but while if you use a small timeframe such as M15 one has to be happy with few pips before price return to the original direction whilst on larger timeframes it may take time and a largish SL.

Having said all that though, I can not see any bearish divergence on GU H4, in fact it's more like bullish divergence. So certainly no sell signal.
Consistency and patience is everything
  • #14,266
  • Jun 4, 2007 5:54am Jun 4, 2007 5:54am
Quoting Geldmeister
Having said all that though, I can not see any bearish divergence on GU H4, in fact it's more like bullish divergence. So certainly no sell signal.
When your mind is set up in a given direction, you can find several technical indications pointing towards it, believe me. Been there, seen that.

To avoid this, I'm only trading trending pairs, in line with the trend only. Huge sell signal?, nice, I place an army of buy limits instead of shorting the crap out of the pair. Interesting to notice that this strategy usually yieds much more pips than several scalpings for 10 pips. Less risky either.

Not trading GU for weeks already, since it hasn't resumed its long term uptrend as of yet.... This is a source of concern, actually, since a likely rate hike coming up will probably be perceived as toppish for 2007 and has the potential to cool off the UK's economy, thus throwing cable in a long-term trend reversal. Same for Euro... I'm talking months here, btw.
  • #14,267
  • Jun 4, 2007 6:03am Jun 4, 2007 6:03am
Good Day

I think we will see a clear view about cable behavior @ 1.9890 and if pass it @1.9927 or 1.9928

thanks
  • #14,268
  • Jun 4, 2007 6:11am Jun 4, 2007 6:11am
looking for a break above 9880. but upside potential look limited for today.
BAM BAM BOOM! -bravado
  • #14,269
  • Jun 4, 2007 6:23am Jun 4, 2007 6:23am
Quoting cesarnc
When your mind is set up in a given direction, you can find several technical indications pointing towards it, believe me. Been there, seen that.
this is true.
BAM BAM BOOM! -bravado
  • #14,270
  • Jun 4, 2007 6:29am Jun 4, 2007 6:29am
I'm short at 9869, hope not to get burned
  • #14,271
  • Jun 4, 2007 6:32am Jun 4, 2007 6:32am
Quoting camisa
I'm short at 9869, hope not to get burned
you want to look for confirmations before jumping in on current level.
BAM BAM BOOM! -bravado
  • #14,272
  • Jun 4, 2007 6:35am Jun 4, 2007 6:35am
Quoting bravado
you want to look for confirmations before jumping in on current level.
my system has confirmed it, that's all I need, problem is my system isn't always right lol
  • #14,273
  • Jun 4, 2007 6:43am Jun 4, 2007 6:43am
if i were to listen to my indicators, i'd say short right now; 1.9875 to 1.9725.
but... there's something i just don't like so i'm waiting for a confirmation, whatever that may be.
Nihil Sine Deo.
  • #14,274
  • Jun 4, 2007 6:45am Jun 4, 2007 6:45am
I'm still long. There potential for cable to break 1.9900. Just my opinion.



Quoting camisa
I'm short at 9869, hope not to get burned
Attached Image
  • #14,275
  • Jun 4, 2007 6:47am Jun 4, 2007 6:47am
Quoting camisa
my system has confirmed it, that's all I need, problem is my system isn't always right lol
It's all about how NYC will come to the market. European traders clearly positioned themselves against the dollar, across the board. And, smartly, left all pairs at critical levels.... NYC has the power to break them, but is that what NYC want?
  • #14,276
  • Jun 4, 2007 6:55am Jun 4, 2007 6:55am
Quoting PandoraBox
I'm still long. There potential for cable to break 1.9900. Just my opinion.
My opinion as well, it has far more support at this point then resistance.
  • #14,277
  • Jun 4, 2007 7:34am Jun 4, 2007 7:34am
maybe sellers above 9900 area. keep your eyes open.
BAM BAM BOOM! -bravado
  • #14,278
  • Jun 4, 2007 7:38am Jun 4, 2007 7:38am
Quoting cesarnc
NYC has the power to break them, but is that what NYC want?
Yes it is.
  • #14,279
  • Jun 4, 2007 7:42am Jun 4, 2007 7:42am
I think we have enough strength now to doji up on daily.
  • #14,280
  • Jun 4, 2007 7:43am Jun 4, 2007 7:43am
200sma has been broken on h4. and in about 20 minutes, a h4 candle will probably close above it.
although i am aware that a bearish move is not completely out of the picture here, i think the chances are getting smaller.
but, never say never. i'm still open to any possibility.

Quoting Takisd
Firstly , the 200 EMA is not a major technical indicator. You would want to replace it with a 200 SMA.. The SMA is a force to be reckoned with.

Agreeing with the diamond pattern. The break is usually down on a diamond. I believe we will go that way. With most pairs looking as going down yet again after fridays rubbish. The 200 sma is currently around 9875, and has not been broken in any of the spikes up... This to me is a pure indication that we will not get through 9850 this time.. Giving us plenty of room to start the journey downside.

It would appear the AUD has kept most USD pairs up over the last week, and it is becoming bearish also. So lets go down plz gbp ^_^...

Just my opinion
Nihil Sine Deo.
374 traders viewing now