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Cable Update (GBPUSD)

  • #24,401
  • Aug 15, 2007 2:33am Aug 15, 2007 2:33am
Quoting Tragapips
Below 9776 Cable will be breaking this channel from June 06. Anybody see Cable at those levels??

http://img177.imageshack.us/img177/8...7022027rv3.png

Good graph, I'm not so sure it will actually break out. No real change in either UK or US economy big enough to warrant that break out. Or am I wrong? Sub-prime crisis?
  • #24,402
  • Aug 15, 2007 2:38am Aug 15, 2007 2:38am
is anyone else targetting .9650s for a close range reversal.....
DISCIPLINE IS THE KEY TO SUCCESS!!!:nerd:
  • #24,403
  • Aug 15, 2007 2:42am Aug 15, 2007 2:42am
Quoting Tragapips
Below 9776 Cable will be breaking this channel from June 06. Anybody see Cable at those levels??
I have the same setup on the weekly....also have the 30sma sitting at the bottom of the channel at 9844....it may hold....probably depends now the MPC minutes and the CPI later today.
  • #24,404
  • Aug 15, 2007 2:43am Aug 15, 2007 2:43am
Quoting hoezhiens
Does anyone see cable going back to 2.03 area? --> ask Soros Jr...
How long going to take? --> ask Soros Jr again....
How is that this drop is happening so fast? --> ask Cesarnc...
ROFL

Know what? I am the one who "has no idea how bad it is out there". Never seen cable drops 100 pips (0000/9900) in that fashion.

If you wanna laugh, check 1hr MACD and RSI, that has read 18 already .

I'm a news scalper today and plan to stay out of the NYC mess....
  • #24,405
  • Aug 15, 2007 2:47am Aug 15, 2007 2:47am
Quoting cesarnc
ROFL

Know what? I am the one who "has no idea how bad it is out there". Never seen cable drops 100 pips (0000/9900) in that fashion.

If you wanna laugh, check 1hr MACD and RSI, that has read 18 already .

I'm a news scalper today and plan to stay out of the NYC mess....
A couple of posts ago I said that the REAL YEEEEEEEEEHAAAAAAAAAAAA comes when it break below 1.9930 - 1.99500... Now watch.. THE PRICE not these ... MACD, RSI, MAs, etc, etc, etc....
.
  • #24,406
  • Aug 15, 2007 2:49am Aug 15, 2007 2:49am
Quoting Make a Million
Good graph, I'm not so sure it will actually break out. No real change in either UK or US economy big enough to warrant that break out. Or am I wrong? Sub-prime crisis?
Well thinking a little more the real question could be at what price subprime crisis will be completely digested by the market?...
Johann Channels and cycles are everything
  • #24,407
  • Aug 15, 2007 2:52am Aug 15, 2007 2:52am
Quoting bullrock
A couple of posts ago I said that the REAL YEEEEEEEEEHAAAAAAAAAAAA comes when it break below 1.9930 - 1.99500... Now watch.. THE PRICE not these ... MACD, RSI, MAs, etc, etc, etc....
Indicators and Techis fails miserably when it comes to panic-driven trades. I just found MACD's shape funny.

The good news is, when dust settles in the stock market, with this subprime problem, cable and euro are to correct upwards fast. The mistake, my mistake, is trying to find the bottom in the middle of this gunfire....
  • #24,408
  • Aug 15, 2007 2:55am Aug 15, 2007 2:55am
Quoting cesarnc
Indicators and Techis fails miserably when it comes to panic-driven trades. I just found MACD's shape funny.

The good news is, when dust settles in the stock market, with this subprime problem, cable and euro are to correct upwards fast. The mistake, my mistake, is trying to find the bottom in the middle of this gunfire....
patience my good friend, patience
Trade what you see, not what you think.
  • #24,409
  • Aug 15, 2007 2:57am Aug 15, 2007 2:57am
Quoting cesarnc
Indicators and Techis fails miserably when it comes to panic-driven trades. I just found MACD's shape funny.

The good news is, when dust settles in the stock market, with this subprime problem, cable and euro are to correct upwards fast. The mistake, my mistake, is trying to find the bottom in the middle of this gunfire....
I am going long @ 1.9950 if that helps
.
  • #24,410
  • Aug 15, 2007 2:58am Aug 15, 2007 2:58am
Quoting bohogirl
Is it wrong to be doing a happy dance over cable's plummet?
I kinda feel bad as I'm sure many good people lost some money, but my shorts are looking soooo good, I can't help but glow with joy
my shorts are bouncing with joy too - that's because of what I keep in them yee har ! nudge nudge wink wink

for 3 days now I have lost big in the morning and cursed myself for a fool - then sat there until 9pm fighting hard to get my money back which I have done

I did it again yesterday and ended up 1 gbp !!!! I have had big losses in this whippy market and got it all back - i think i am up about 5gbp (and that is not 5k !) for the last 3 trading sessions !

I think the lesson is to warm my brain up first and wait for the strong moves - I am obviously ok once it gets moving but entering far too soon..

Today i will be more patient and careful... lets see if i can pin the big profits without making the big losses first.

I don't mind missing out on the big profits as I am still learning the lesson that self control and patience is THE most important thing and so I am being educated at no cost.
  • #24,411
  • Aug 15, 2007 3:03am Aug 15, 2007 3:03am
I am not just saying things when I am posting numbers ... I am playing those... I am short since 2.01775 ... Have fun...
.
  • #24,412
  • Aug 15, 2007 3:06am Aug 15, 2007 3:06am
Can you imagine a 500pips drop for the week?? I can. Why not. It is as lilkely as it reverses now rides 300 pips upwards... So just watch and protect what you have or wait patiently....

BONSAI trees do not grow in 2 hours it takes a couple of 100 years to have the most beautiful ones... So patience.. In my country we say that patience grows the most beautiful roses....
.
  • #24,413
  • Aug 15, 2007 3:08am Aug 15, 2007 3:08am
anyone agree that cable will break below 1.9700??
  • #24,414
  • Aug 15, 2007 3:14am Aug 15, 2007 3:14am
Quoting chakara>>FX
anyone agree that cable will break below 1.9700??
It might... And the reson is that is the next trendline on my screen that could be broken... The one @ 1.9930 has gone for now....
.
  • #24,415
  • Aug 15, 2007 3:15am Aug 15, 2007 3:15am
Quoting chakara>>FX
anyone agree that cable will break below 1.9700??
I agree and ask the same question of the bulls and bears. How dose everyone think the data soon to come out will affect the gbp/usd? I too am looking at a 1.9700 move, how do you bulls and bears think about this?

Fortune favors the foolish- obi
yet I would add it also favors the brave, and stouthearted.
Fear is the mind killer.
  • #24,416
  • Aug 15, 2007 3:16am Aug 15, 2007 3:16am
By the way the the 352 EMA sits @ 1.9347 on my screen
.
  • #24,417
  • Aug 15, 2007 3:21am Aug 15, 2007 3:21am
we might see cable break below @1.9700 according to my fundamental
i am not sure but i am post base on my research ......please correct me if wrong
  • #24,418
  • Aug 15, 2007 3:23am Aug 15, 2007 3:23am
Quoting chakara>>FX
we might see cable break below @1.9700 according to my fundamental
i am not sure but i am post base on my research ......please correct me if wrong
Regardless of your research the price will do what it will do. It doesn't care about you.. So be prepared for ANYTHING and EVERYTHING.
.
  • #24,419
  • Aug 15, 2007 3:25am Aug 15, 2007 3:25am
thank' s for your advice Bullock......
  • #24,420
  • Aug 15, 2007 3:27am Aug 15, 2007 3:27am
The pair is seen to be deeply oversold in 4H chart. It can be either strong bear or a sign of bullish divergence...

Anyway, fundamentals is due out today, so... Like always, I'll stand aside and wait for further price confirmation before taking any new positions...

Where's my robot?!
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