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Cable Update (GBPUSD)

  • #18,781
  • Jul 16, 2007 12:04am Jul 16, 2007 12:04am
Quoting tksu22
Tough resistance at 2.0365ish (quad top). I'm thinking maybe a 100 pip drop down to the 2.0265 region for the end of the NY session.
Any thoughts?
Yeah I think there's cable support at 2.0280 ... I'm going short from here 2.0360 tp 2.0285 Cesarn: what do you think?
To be or not to be, that's the question
  • #18,782
  • Jul 16, 2007 12:21am Jul 16, 2007 12:21am
Quoting hoezhiens
Yeah I think there's cable support at 2.0280 ... I'm going short from here 2.0360 tp 2.0285 Cesarn: what do you think?
why ? just think without any logical stratejic ?

words.....
byebye costly moments.
  • #18,783
  • Jul 16, 2007 12:36am Jul 16, 2007 12:36am
It's forming a triple tops and I think it will be going to favor the bears....technically.... But any fundamentals due out today?
Hello World
  • #18,784
  • Jul 16, 2007 12:39am Jul 16, 2007 12:39am
Quoting waf_1988
It's forming a triple tops and I think it will be going to favor the bears....technically.... But any fundamentals due out today?
Technically? I believe it will drop only to resume north again.
in other words, "retrace".

i wont go short hoping for that drop; but I am hoping it drops so I can go long.
  • #18,785
  • Jul 16, 2007 12:43am Jul 16, 2007 12:43am
Quoting tksu22
Tough resistance at 2.0365ish (quad top). I'm thinking maybe a 100 pip drop down to the 2.0265 region for the end of the NY session.
Any thoughts?
There is no such things like quad top.. at least not in the book.. but hey.. there is always a first time for everything rite?
  • #18,786
  • Jul 16, 2007 12:43am Jul 16, 2007 12:43am
Quoting BurgerKing
Technically? I believe it will drop only to resume north again.
in other words, "retrace".

i wont go short hoping for that drop; but I am hoping it drops so I can go long.
Hi Burgerking , can you explain me why we have a short sell ?
byebye costly moments.
  • #18,787
  • Jul 16, 2007 12:47am Jul 16, 2007 12:47am
Quoting hoezhiens
Yeah I think there's cable support at 2.0280 ... I'm going short from here 2.0360 tp 2.0285 Cesarn: what do you think?
IMHO.. check ur charts.. last bounce from resistance only got as far as .325..
  • #18,788
  • Jul 16, 2007 12:49am Jul 16, 2007 12:49am
Quoting 1000USD
why ? just think without any logical stratejic ?

words.....
i think you should read prior post that says a quad or triple tops...
To be or not to be, that's the question
  • #18,789
  • Jul 16, 2007 12:50am Jul 16, 2007 12:50am
Quoting BurgerKing
Technically? I believe it will drop only to resume north again.
in other words, "retrace".

i wont go short hoping for that drop; but I am hoping it drops so I can go long.
Weekly, the pair trending up, and now should it retrace to 2.02 level, I'll go long...^^

Now, I have a short position (speculative actually, just looking for a 20pips fortune, hihihih)
Hello World
  • #18,790
  • Jul 16, 2007 12:54am Jul 16, 2007 12:54am
Quoting dd33
IMHO.. check ur charts.. last bounce from resistance only got as far as .325..
with triple tops i hope we all can see retracement further down... to 2.0280 (23.6% fibo retrace from 4 hour chart from 2.0057 to 2.0362) i only expect to see 23.6% fibo retrace not 38.2% and include triple top view so i think it make sense for me to go short here..
To be or not to be, that's the question
  • #18,791
  • Jul 16, 2007 12:55am Jul 16, 2007 12:55am
Euro also having a tough time cracking 3800. One of them gone.. and we might see both cable and euro climbing to "heaven"
  • #18,792
  • Jul 16, 2007 1:00am Jul 16, 2007 1:00am
Quoting dd33
Euro also having a tough time cracking 3800. One of them gone.. and we might see both cable and euro climbing to "heaven"
nothing can stop cable to reach 2.0400 today... believe me people.... can even get to 2.0500... just wait and see
  • #18,793
  • Jul 16, 2007 1:02am Jul 16, 2007 1:02am
Quoting hoezhiens
with triple tops i hope we all can see retracement further down... to 2.0280 (23.6% fibo retrace from 4 hour chart from 2.0057 to 2.0362) i only expect to see 23.6% fibo retrace not 38.2% and include triple top view so i think it make sense for me to go short here..
I thought triple tops is already formed with top1 = .361, top2 = .363, and top3 = .364. Until now, there is no such thing called quad tops. Check ur chart again.. u might have a reversed SHS. But then again.. trade what u see.. not what other people see.. ATM.. im watching like a hawk from the sideline..
  • #18,794
  • Jul 16, 2007 1:04am Jul 16, 2007 1:04am
Quoting dd33
I thought triple tops is already formed with top1 = .361, top2 = .363, and top3 = .364. Until now, there is no such thing called quad tops. Check ur chart again.. u might have a reversed SHS. But then again.. trade what u see.. not what other people see.. ATM.. im watching like a hawk from the sideline..
no quad tops so cable will shoot through finding heaven....
  • #18,795
  • Jul 16, 2007 1:05am Jul 16, 2007 1:05am
Quoting dd33
Euro also having a tough time cracking 3800. One of them gone.. and we might see both cable and euro climbing to "heaven"
Retrace only perhaps? I'm short now, but only to see the 20pips fortune ^^

Like BurgerKing says, it retraces...Some evidence may be seen on the weekly chart --> Trending up but now, we have a triple tops...Things like this may drive our account to a worse balance if we speculate too much...
Hello World
  • #18,796
  • Jul 16, 2007 1:09am Jul 16, 2007 1:09am
Quoting soros_junior
nothing can stop cable to reach 2.0400 today... believe me people.... can even get to 2.0500... just wait and see
I am not sure too 0400 but it is going up .
please see MACD buy defult and H4 and MA 5 . 13 .62 and adx 14 then you can see that this is bulish and it is going up ..
but I do not know that why it is going down in short term... I do not know ...
byebye costly moments.
  • #18,797
  • Jul 16, 2007 1:11am Jul 16, 2007 1:11am
Gb inflation is weaker and weaker and there is no signal for more increase in interest rate. So this is good time to Sell GU
Give me patience
  • #18,798
  • Jul 16, 2007 1:15am Jul 16, 2007 1:15am
r u sure? oil goes up everyday....
  • #18,799
  • Edited 1:17am Jul 16, 2007 1:15am | Edited 1:17am
Quoting waf_1988
Retrace only perhaps? I'm short now, but only to see the 20pips fortune ^^

Like BurgerKing says, it retraces...Some evidence may be seen on the weekly chart --> Trending up but now, we have a triple tops...Things like this may drive our account to a worse balance if we speculate too much...
There is a possibilities of retrace.. since the triple top is formed in 3 continuous days.. so on daily charts.. it almost looks like single top.. if u wanna go short.. please put ur s/l wisely..

Plus euro also got a PB form on friday.. dunno if its still valid though..
  • #18,800
  • Jul 16, 2007 1:17am Jul 16, 2007 1:17am
touches 61 already, this is quadro top... very tough resistance
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