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Cable Update (GBPUSD)

  • #35,481
  • Oct 15, 2007 11:41am Oct 15, 2007 11:41am
I think we have one more break to the upside to the previous top of 2.0475
then towards 2.0490- 2.0510 before a tradable correction (wave 4).

Let's see what happens

CF
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  • #35,482
  • Oct 15, 2007 12:06pm Oct 15, 2007 12:06pm
I think if the linkage with the Dow continues, then Cable will start dropping soon.

Dow -163 at the moment.
  • #35,483
  • Oct 15, 2007 12:08pm Oct 15, 2007 12:08pm
Quoting Malaysia
U mean this channel?
Yesss thats the one!
I dream, therefore I become.
  • #35,484
  • Oct 15, 2007 12:10pm Oct 15, 2007 12:10pm
Quoting SunTrader
I think if the linkage with the Dow continues, then Cable will start dropping soon.

Dow -163 at the moment.
yep.. I think so too..13930 currently. I am wondering if a larger correction is on it's way.
  • #35,485
  • Oct 15, 2007 12:13pm Oct 15, 2007 12:13pm
Amazing to think Cable still hasn't broken out of the wide range bar of Sept 28th.

  • #35,486
  • Oct 15, 2007 12:18pm Oct 15, 2007 12:18pm
Quoting SunTrader
Amazing to think Cable still hasn't broken out of the wide range bar of Sept 28th.

You are right, this is a pretty long range...and fairly tight too. Big breakout must be in the mix soon.
I dream, therefore I become.
  • #35,487
  • Oct 15, 2007 12:35pm Oct 15, 2007 12:35pm
Quoting SunTrader
Amazing to think Cable still hasn't broken out of the wide range bar of Sept 28th.

Yep, it's sure been in a tight range.. It just needs a trigger now!
  • #35,488
  • Oct 15, 2007 1:02pm Oct 15, 2007 1:02pm
700pm EST Bernanke Speaks
  • #35,489
  • Oct 15, 2007 1:13pm Oct 15, 2007 1:13pm
with Bernankes speech, what do you think it will have in terms of effect?
I dream, therefore I become.
  • #35,490
  • Oct 15, 2007 1:22pm Oct 15, 2007 1:22pm
Trend Lines
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  • #35,491
  • Oct 15, 2007 1:46pm Oct 15, 2007 1:46pm
I am ABSOLUTELY clueless about ALL PAIRS, no exception.

Euro: 1.38 coming / 1.44 coming
Cable: 1.88 coming / 2.0650 coming
Yen: 121 coming / selloff coming

I'm feeling like THIS:

http://www.free-science-fair-project...1/the-maze.jpg
  • #35,492
  • Oct 15, 2007 1:50pm Oct 15, 2007 1:50pm
Quoting cesarnc
I am ABSOLUTELY clueless about ALL PAIRS, no exception.

Euro: 1.38 coming / 1.44 coming
Cable: 1.88 coming / 2.0650 coming
Yen: 121 coming / selloff coming

I'm feeling like THIS:

http://www.free-science-fair-project...1/the-maze.jpg
Hahaha I feel t he same way for the long term. Right now, however, I'm looking to the short term ( hours to days) trades that I can still focus on a direction for.
I dream, therefore I become.
  • #35,493
  • Oct 15, 2007 2:20pm Oct 15, 2007 2:20pm
It's times like these I'm glad I have a system. I'm finished trying to guess where it will go next and for how long. I'm just going to follow my system blindly and give up TA for now.

No not really, I just cant give up TA, it's too much fun.
Just Trade It
  • #35,494
  • Oct 15, 2007 3:08pm Oct 15, 2007 3:08pm
And it's about time to start the correction, probably will go down to 2.0223 or go up a little more to 2.0493 and correct to 2.0223, if it doesn't do this well the market has gone crazy.
Risk Less in the next transaction after a Win.
  • #35,495
  • Oct 15, 2007 3:10pm Oct 15, 2007 3:10pm
Quoting madalin
And it's about time to start the correction, probably will go down to 2.0223 or go up a little more to 2.0493 and correct to 2.0223, if it doesn't do this well the market has gone crazy.
I think we will more than likely see the 2.05 area before the correction you speak of.
I dream, therefore I become.
  • #35,496
  • Oct 15, 2007 3:12pm Oct 15, 2007 3:12pm
Quoting madalin
And it's about time to start the correction, probably will go down to 2.0223 or go up a little more to 2.0493 and correct to 2.0223, if it doesn't do this well the market has gone crazy.
I agree
Trade what you see, not what you think.
  • #35,497
  • Oct 15, 2007 3:19pm Oct 15, 2007 3:19pm
i see a reversal pattern on the 4h but hey maybe the reversal isn't strong enough.
Risk Less in the next transaction after a Win.
  • #35,498
  • Oct 15, 2007 3:34pm Oct 15, 2007 3:34pm
Quoting madalin
And it's about time to start the correction.
What are you basing this statement on?
  • #35,499
  • Oct 15, 2007 3:39pm Oct 15, 2007 3:39pm
Quoting madalin
i see a reversal pattern on the 4h but hey maybe the reversal isn't strong enough.
Hey madalin, I was just going to ask what reversal signal you attained and what it was attained by? On my charts, I saw a bullish bar just like the past few before it also, which is telling me of a continuation of the uptrend. You said yourself that we could see some upside movement before moving downwards for a correction. This is why I'm going to ask, why would you want to let yourself create a large drawdown before the position actually moves in your favor. Sometimes it is best to wait these movements out until you see a clear direction being formed by your analysis, not based by what you think can and will happen. Thanks for your time.
I dream, therefore I become.
  • #35,500
  • Oct 15, 2007 3:54pm Oct 15, 2007 3:54pm
Quoting Big Wave Rider
It's times like these I'm glad I have a system. I'm finished trying to guess where it will go next and for how long. I'm just going to follow my system blindly and give up TA for now.

No not really, I just cant give up TA, it's too much fun.
Wave Rider I need help my system never work, hw do u take the GUESS work out.

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