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Cable Update (GBPUSD)

  • #48,761
  • Jan 9, 2008 2:22am Jan 9, 2008 2:22am
Quoting Bali
I can see it is going short, trend line and others checked this , if it goes short under 9600 I think will be SHORTING I THINK

DO YOU THINK SO ?
it will go under 1.9600 sooner than what u' expected...
  • #48,762
  • Jan 9, 2008 2:28am Jan 9, 2008 2:28am
Quoting soros_junior
last year was a good year to long cable... this year is a good year to short... cable will keep on dropping... dollar is getting stronger as obama is replacing bush as the next president...
i'm targetting 1.9000

Dollar is not getting stronger. Cable weakness is attributed to the UK's own fundamentals.
Humble Lifetime Member
  • #48,763
  • Jan 9, 2008 2:31am Jan 9, 2008 2:31am
Quoting Bali
I can see it is going short, trend line and others checked this , if it goes short under 9600 I think will be SHORTING I THINK

DO YOU THINK SO ?

Seems like bears have calmed down for now, my target was lower then this (9600-9578 is daily support) but 4h mom changed my mind as posted above
Measure twice, cut once
  • #48,764
  • Jan 9, 2008 2:40am Jan 9, 2008 2:40am
cable got hit on back of euro sterling strength, the rallied halted at 7500, if that level breaks higher then will see cable lower once again, look at euro sterling daily chart,
Trading is 80% Emotional, 20% Technical
  • #48,765
  • Jan 9, 2008 2:50am Jan 9, 2008 2:50am
GBP is going down to the drain... gordon brown is not performing... UK economy is getting worse... in the mean time... USD is getting stronger.. vote Obama as the next President!
  • #48,766
  • Edited 3:07am Jan 9, 2008 2:56am | Edited 3:07am
seems to me the market is neutralizing..then possible to resume trend but i aint doing nothing till that happens...if u ask me theres a big time divergence coming up and this will lead to it going south im sure....what do u guys think?
  • #48,767
  • Jan 9, 2008 3:09am Jan 9, 2008 3:09am
Very short term trade against medium trend
Looks like a good buy say up to 1.9710 after 12 oclock
I’ve got a regular bullish divergence forming on my 4hr stoch (5,3,3) which currently crossing trigger.
I’ve got my 4HR RSI 14 sitting on a rising trend line might be confirmed at 12 o’clock
We are sitting on a strong support level.
I would be looking at 1.9635 or above at 12 today for possible buy.

I don’t think price is going to have any major moves or trends until after interest rates confirmed this week. I would guess no move on rates but always have an open mind.

This is not a trade call I am not a professional trader (still on steep learning curve)just giving my thoughts for discussion.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #48,768
  • Jan 9, 2008 3:15am Jan 9, 2008 3:15am
So SHORTING EYRGBP from the TOP is good idea with stop lose pips I think

This what I'm doing Now
  • #48,769
  • Jan 9, 2008 3:18am Jan 9, 2008 3:18am
absolutely agree ..i think there a short trade coming up but afterwards its looks like the price is going to rise..the bulls are fighting back ...lol
  • #48,770
  • Jan 9, 2008 3:27am Jan 9, 2008 3:27am
Quoting Bali
So SHORTING EYRGBP from the TOP is good idea with stop lose pips I think

This what I'm doing Now

As I go on I realise the importance of time and trading. If you’re trading 1 hour you need to be clock watching just before and on the hour to judge what the markets going to give you.
On the time frame I am on I have to wait hopfully all the Bulls are out there watching with me !! not grazing in a field
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #48,771
  • Jan 9, 2008 3:34am Jan 9, 2008 3:34am
adding my shorts... getting ready for us open... GU is going below 1.9600 tonite! yeeeeeeee haaaaaaaaaaaa
  • #48,772
  • Jan 9, 2008 3:42am Jan 9, 2008 3:42am
I dont think so
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #48,773
  • Jan 9, 2008 3:42am Jan 9, 2008 3:42am
im really not so sure ..it seems there reluctance to go short now...theres a strong resistance area we are in right now...and people arent selling!!
this is a testing time...
It should go down a bit but i think the rest of the day is going to be bearish
  • #48,774
  • Jan 9, 2008 3:44am Jan 9, 2008 3:44am
THere is good support at 1.9590
If we cross that , We are heading all the way down towards 1.9105
  • #48,775
  • Jan 9, 2008 3:45am Jan 9, 2008 3:45am
No real tradable news today no volume to break this point
I hope
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #48,776
  • Jan 9, 2008 3:47am Jan 9, 2008 3:47am
Quoting jacobtrader
THere is good support at 1.9590
If we cross that , We are heading all the way down towards 1.9105
with this kind of momentum shown today, i believe that to break the 1.9590 is just a piece of cake... i'm targetting a little bit below than 1.9105 which is at 1.9000... pretty nice number
  • #48,777
  • Jan 9, 2008 3:49am Jan 9, 2008 3:49am
Where is qs ?.........

LONG GU LONG
I Deeply Love My Virtual Life In Virtual World , RLC
  • #48,778
  • Jan 9, 2008 3:54am Jan 9, 2008 3:54am
Quoting notme32
Where is qs ?.........

LONG GU LONG

long gu long
  • #48,779
  • Jan 9, 2008 3:57am Jan 9, 2008 3:57am
Tomorow is the NEWS DAYS, MANY EVENTS

DO ANYONE HAVE A GOOD STRATAGE FOR TRADING THE NEWS ????


Thanks
  • #48,780
  • Jan 9, 2008 3:58am Jan 9, 2008 3:58am
Quoting Bali
Tomorow is the NEWS DAYS, MANY EVENTS

DO ANYONE HAVE A GOOD STRATAGE FOR TRADING THE NEWS ????


Thanks
Yeah,
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