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Cable Update (GBPUSD)

  • #2,301
  • Dec 18, 2006 8:56am Dec 18, 2006 8:56am
Stop hit!!!!!!!!
  • #2,302
  • Dec 18, 2006 9:00am Dec 18, 2006 9:00am
Quoting forexnovice
does the tweezer bottom in the 15min charts suggest a southward direction? Just wanted ur opinion...thanx
Sorry, forexnovice. I was out for lunch... Guess it is too late now, hum?

And I missed that move...
  • #2,303
  • Dec 18, 2006 9:01am Dec 18, 2006 9:01am
Went short @ 9480....looks like 9400 is in sight...what say?
  • #2,304
  • Dec 18, 2006 9:05am Dec 18, 2006 9:05am
finally we broke 9460...... now our 123 formation is in play! 9200 in next couple of days????
  • #2,305
  • Dec 18, 2006 9:06am Dec 18, 2006 9:06am
Quoting forexnovice
Went short @ 9480....looks like 9400 is in sight...what say?
Might happen...

Hey you guys, I posted a thread yesterday but I think you've missed it. I would like have your comments, since it looks pertinent for this moment. The possibility of a reversal...

Reply # 2163

Thanks...
  • #2,306
  • Dec 18, 2006 9:07am Dec 18, 2006 9:07am
Quoting cesarnc
Might happen...

Hey you guys, I posted a thread yesterday but I think you've missed it. I would like have your comments, since it looks pertinent for this moment. The possibility of a reversal...

#2163

Thanks...
broken link ! :-D
  • #2,307
  • Dec 18, 2006 9:09am Dec 18, 2006 9:09am
Quoting m00jiman
broken link ! :-D
Please go manually... I don't know how to link it here
  • #2,308
  • Dec 18, 2006 9:09am Dec 18, 2006 9:09am
Hi Katzenhai2,

Kindly post your chart.

regards,

Vasu
  • #2,309
  • Dec 18, 2006 9:09am Dec 18, 2006 9:09am
Try this:
http://www.forexfactory.com/forexfor...postcount=2163
  • #2,310
  • Dec 18, 2006 9:11am Dec 18, 2006 9:11am
Agreed...
Quoting danegg7
finally we broke 9460...... now our 123 formation is in play! 9200 in next couple of days????
  • #2,311
  • Dec 18, 2006 9:16am Dec 18, 2006 9:16am
Quoting forexnovice
Agreed...
Well, today for the first time here, the only timeframe still showing Cable bullish is the daily. 4h down to 15 min showing bearish...

I've read somewhere - cannot find it now - that 98XX was the 2006 top for Cable, but didn't say anything about reversal...
  • #2,312
  • Dec 18, 2006 9:19am Dec 18, 2006 9:19am
I think it's bottomed out at 9440 - going to shoot up in the next couple of days.
  • #2,313
  • Dec 18, 2006 9:25am Dec 18, 2006 9:25am
The daily chart shows a bearish, not bullish candle. Correct me if wrong..
Quoting cesarnc
Well, today for the first time here, the only timeframe still showing Cable bullish is the daily. 4h down to 15 min showing bearish...

I've read somewhere - cannot find it now - that 98XX was the 2006 top for Cable, but didn't say anything about reversal...
  • #2,314
  • Dec 18, 2006 9:26am Dec 18, 2006 9:26am
@coshbrewer:
I would expect a stronger decline in the next couple of days. Look on the forecasts for the upcoming news, they support dollar and we have broke the last daily low, its heading toward 38.2%, drawn from the very low to the very high on daily. It seems it even drops now lower toward TP 9406.
  • #2,315
  • Dec 18, 2006 9:27am Dec 18, 2006 9:27am
Exited short @9440 for 40+. Will wait 4 the retracement now...if any
  • #2,316
  • Dec 18, 2006 9:28am Dec 18, 2006 9:28am
Quoting forexnovice
The daily chart shows a bearish, not bullish candle. Correct me if wrong..
Yes, but the overaal trend is still bullish... Not that strong bull we saw previously... Lack of feed, I guess.. hehe
  • #2,317
  • Dec 18, 2006 9:32am Dec 18, 2006 9:32am
Is this a valid channel to consider? I'm still learning those technical stuff yet... Wanna know whether or not this is draw correctly...

I'm here gathering all information possible to justify an overall bearish trend, although scalping both ways yet... If this is correct, it's time to retrace, isn't it?

http://i2.photobucket.com/albums/y28/cesarnc/dec-18.jpg
  • #2,318
  • Dec 18, 2006 9:35am Dec 18, 2006 9:35am
at the third attempt, again it failed to break 9430-35 zone; it looks like 9430-35 support holds for a while...

long at 9438

SL 9395
Wise decisions are based on lies we living..
  • #2,319
  • Dec 18, 2006 9:36am Dec 18, 2006 9:36am
Looks like the Dollar Bear has pounded the pound out of the Bullish Pound...pun intended
Quoting cesarnc
Yes, but the overaal trend is still bullish... Not that strong bull we saw previously... Lack of feed, I guess.. hehe
  • #2,320
  • Dec 18, 2006 9:40am Dec 18, 2006 9:40am
Here is something to think about. Another area of important support to break is 9430 then to 9411 - 9440. Being that we are in a Wave 4 correction , the 1-2-3 move that was spoken of earlier. Which has just broken the 161.8 fib retracement, but has not closed below this retracement as of yet. One thing to look at is cable is real good for developing a EW flat, which would create another 1-2-3 move before it goes up to complete Wave 5. I closed out my short from 9561 at 9444 and I am looking for a long to the 9610 area which would be wave 1 in the flat. Just something to think about.
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