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Cable Update (GBPUSD)

  • #49,201
  • Jan 11, 2008 4:21am Jan 11, 2008 4:21am
Quoting JCash
On H1 chart a beautiful hook has formed... If this hour closes above 9550, I say it's long all the way... Also, 9480 is almost 1 year low and strong support is at this level on the daily chart.
hi can you explain me what is hook pattern? thx
  • #49,202
  • Jan 11, 2008 4:25am Jan 11, 2008 4:25am
man there's a lot of forex guru's in here im glad i came to this thread, there's a lot i can learn from you guys, it seems like you guys know a lot about witch way the market is going, so im gonna sit back and trade on every trade calls you guys give, because you guys are right 99% of the time, so thank you, and can some one give me a trade call with t/p and s/l, thanks.
If I Go Broke Trying Then I Will die happy.
  • #49,203
  • Jan 11, 2008 4:25am Jan 11, 2008 4:25am
Quoting jacobtrader
A good Sell opportunity from 1.9550 - 1.9570 levels.
They are closing positions.. so price comes up.. cause interests lies to sell above price levels
We'll see in about an hour. You may be right, but I see different for now. If it goes up, I recover my morning loss; if it goes down, one more lesson learned.

Though, the COT report says LONG, BOE kept the rates, FED will cut rates, 9480 is 1 year low, all TFs show oversold...I still say long
"Of all the things I've lost, I miss my mind the most"
  • #49,204
  • Jan 11, 2008 4:28am Jan 11, 2008 4:28am
Quoting Moe
man there's a lot of forex guru's in here im glad i came to this thread, there's a lot i can learn from you guys, it seems like you guys know a lot about witch way the market is going, so im gonna sit back and trade on every trade calls you guys give, because you guys are right 99% of the time, so thank you, and can some one give me a trade call with t/p and s/l, thanks.

Gimme me too..
"Invest With The Insiders, Not The Masses" George Muzea
  • #49,205
  • Jan 11, 2008 4:28am Jan 11, 2008 4:28am
Quoting huto
hi can you explain me what is hook pattern? thx
Here http://www.investopedia.com/terms/h/hookreversal.asp
and Read here

Quoting Trillionaire
The COT report shows the commercials and speculators at extreme opposites, with the commercials LONG on cable.

Usually, if not always, the commercials are proven right with a significant
move in their direction. That's not to say now is the time to go long based on the COT data alone. It can take WEEKS for this to be realized. It's more of a "heads-up" to look for good technicals to go long. It can move several hundred pips against the commercials before making a fairly sudden and change in direction with a large move over several days.


Now, the current report is from Dec 31, and the previous reports also shows extreme divergence between the commercials and specs, and the Cable was higher then but now the divergence is even more extreme...like I said, this can go on for a while, with price moving against the commercials.

We'll have to see the report tomorrow for Jan 8, the thing to look for is a pullback from the extremes, looks like a hook on the graph. That is often the precursor to the change in direction.

That said, with the no change in interest from the BOE, and the almost certain rate reduction by the US later this month, I'm wondering if we are close to the bottom, maybe that support we've seen the last two days at around 1.9550.

that's my understanding anyway,
my 2 pips
"Of all the things I've lost, I miss my mind the most"
  • #49,206
  • Jan 11, 2008 4:30am Jan 11, 2008 4:30am
Quoting Moe
man there's a lot of forex guru's in here im glad i came to this thread, there's a lot i can learn from you guys, it seems like you guys know a lot about witch way the market is going, so im gonna sit back and trade on every trade calls you guys give, because you guys are right 99% of the time, so thank you, and can some one give me a trade call with t/p and s/l, thanks.
Please help, i been long since 2.0500, what should i do.
If I Go Broke Trying Then I Will die happy.
  • #49,207
  • Jan 11, 2008 4:33am Jan 11, 2008 4:33am
C'mon Moe..dont give up.Lot's of newbies as guest that view this thread..and im damn worry if the gonna hit the button sell or buy just by a someone trade call here. in my first year here on ff..people like vegas, quinn and jim always warning us by stuff like "DO UR OWN JUDGEMENT"..kinda different from now that they shout everycorner to long or sell..well i got a nice tutor here before :0 therefore i will give it back to other new forum member how to fish ..not the fish.

to other..come on folks..at least try to post a graphic and show us ur thinking of a long or a down.Help us..help u.

my 2 cents

Quoting Moe
man there's a lot of forex guru's in here im glad i came to this thread, there's a lot i can learn from you guys, it seems like you guys know a lot about witch way the market is going, so im gonna sit back and trade on every trade calls you guys give, because you guys are right 99% of the time, so thank you, and can some one give me a trade call with t/p and s/l, thanks.
  • #49,208
  • Jan 11, 2008 4:33am Jan 11, 2008 4:33am
Quoting Moe
Please help, i been long since 2.0500, what should i do.
you must have alot in ur account
May the best with u
  • #49,209
  • Jan 11, 2008 4:34am Jan 11, 2008 4:34am
Quoting Moe
Please help, i been long since 2.0500, what should i do.
You kidding ??
Well If you have power to hold position for 3 months.. then i would say wait..
I hope you dont have lots of lots at that price..


Weekly charts give very very clear indication, GBP/USD will go down.. next week..
  • #49,210
  • Jan 11, 2008 4:35am Jan 11, 2008 4:35am
Quoting Moe
Please help, i been long since 2.0500, what should i do.
http://bling.imperial.org/smile/random/pray.jpg
  • #49,211
  • Jan 11, 2008 4:36am Jan 11, 2008 4:36am
, i was just making fun of this thread, thanks for the advice my forex guru's.
If I Go Broke Trying Then I Will die happy.
  • #49,212
  • Jan 11, 2008 4:36am Jan 11, 2008 4:36am
lolz thz funny...

I am bearish GBP/USD
And bullish EUR/USD..

Whats other peoples view??

Quoting cesarnc
http://bling.imperial.org/smile/random/pray.jpg
  • #49,213
  • Jan 11, 2008 4:37am Jan 11, 2008 4:37am
yes there were a good hook reversal at candle.what do u think guys!! 1 more market sign..
  • #49,214
  • Jan 11, 2008 4:40am Jan 11, 2008 4:40am
SHAME ON ME,
If I Go Broke Trying Then I Will die happy.
  • #49,215
  • Jan 11, 2008 4:42am Jan 11, 2008 4:42am
Quoting hilmiy2k
yes there were a good hook reversal at candle.what do u think guys!! 1 more market sign..
As I said, I see long. BUT, Moe and other are right.
DO YOUR OWN JUDGMENT!!!
"Of all the things I've lost, I miss my mind the most"
  • #49,216
  • Jan 11, 2008 4:42am Jan 11, 2008 4:42am
Quoting Moe
, i was just making fun of this thread, thanks for the advice my forex guru's.
Every time I've seen Moe post I can't help but to think of the three stooges, Cause I always get a laugh from him. ;p

As to you're question earlier you should prolly add to you're long immediately, with a TP of whenever you're heart is content, and a SL of margin call.
  • #49,217
  • Jan 11, 2008 4:44am Jan 11, 2008 4:44am
Quoting hilmiy2k
yes there were a good hook reversal at candle.what do u think guys!! 1 more market sign..
A W- or 1-2-3 bottom on the 15min, with the top about 9550. Lots of resistance at that level, see which way this goes. I'm long from 9517.
  • #49,218
  • Jan 11, 2008 4:44am Jan 11, 2008 4:44am
Quoting kocher
Every time I've seen Moe post I can't help but to think of the three stooges, Cause I always get a laugh from him. ;p

As to you're question earlier you should prolly add to you're long immediately, with a TP of whenever you're heart is content, and a SL of margin call.
no no no, did you say SL what is that i would never do a thing like that, please tell me what is a SL i don't believe in that.
If I Go Broke Trying Then I Will die happy.
  • #49,219
  • Jan 11, 2008 4:45am Jan 11, 2008 4:45am
it's still going up higher..
  • #49,220
  • Jan 11, 2008 4:46am Jan 11, 2008 4:46am

You guys are funny
Take a report.
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