Cable Update (GBPUSD) | Page 2542 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #50,821
  • Jan 23, 2008 5:47pm Jan 23, 2008 5:47pm
Quoting Bones
ok , i would agree we have had bullish candles ,though not on weekly ,but there has been some crazy action going on with the fed n all that so im not sure how valid they are, i will admit i am not an expert yet but overall i still feel the higher time frames look bearish.I do think anthing is possible in forex so you may b right ,i would just like 1.9700 to be broken before we say we have a bottom ?
ah so the weekly bullish has not formed as yet, but look at the previous bars, they are bearish, but get smaller as time passes, it makes it only obvious to follow that pattern of the weekly getting smaller and smaller until the first bullish bar forms. which will be in two days from now......
  • #50,822
  • Jan 23, 2008 5:47pm Jan 23, 2008 5:47pm
I agree. Im going long here. Looking for 1.9700. I'll probably short at that point as well.... Trendline!
Jeff
Quoting nAVIN2007
if u ask me I cant see how the chart show a downward movement all major time frame suggest bullish activity...
spinning top / hammer formation forming on weekly
daily - hammer formation
4 hours - definetely bullish

1 hr time frame looks like neutralization is occuring then possible uptrend movement resumed. It all point upwards.....nothing downwards or am i wrong?
  • #50,823
  • Jan 23, 2008 5:48pm Jan 23, 2008 5:48pm
Quoting nAVIN2007
if u ask me I cant see how the chart show a downward movement all major time frame suggest bullish activity...
spinning top / hammer formation forming on weekly
daily - hammer formation
4 hours - definetely bullish

1 hr time frame looks like neutralization is occuring then possible uptrend movement resumed. It all point upwards.....nothing downwards or am i wrong?
the weekly has a long way to go before forming all i know is its under a pretty strong trendline that has been tested loads of times im looking for the weekly to close above to start looking for longs
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #50,824
  • Jan 23, 2008 5:49pm Jan 23, 2008 5:49pm
Quoting Bones
the weekly has a long way to go before forming all i know is its under a pretty strong trendline that has been tested loads of times im looking for the weekly to close above to start looking for longs
there you go, now we are getting somewhere!
  • #50,825
  • Jan 23, 2008 5:53pm Jan 23, 2008 5:53pm
im just saying ive been burnt by that line before now and im wary of it
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #50,826
  • Jan 23, 2008 5:59pm Jan 23, 2008 5:59pm
Quoting Bones
the weekly has a long way to go before forming all i know is its under a pretty strong trendline that has been tested loads of times im looking for the weekly to close above to start looking for longs
good point!!! and yes that trendline is really tough
it could go north or south and this time...its a gamble me feels not tradable
  • #50,827
  • Jan 23, 2008 6:00pm Jan 23, 2008 6:00pm
Quoting Bones
im just saying ive been burnt by that line before now and im wary of it
dont depend on a trendline that you have drawn, you may have drawn it wrong. as I have done in the past, instead look at the market psychology by viewing the weekly, monthy charts.
  • #50,828
  • Jan 23, 2008 6:11pm Jan 23, 2008 6:11pm
Quoting AmeriTrini
dont depend on a trendline that you have drawn, you may have drawn it wrong. as I have done in the past, instead look at the market psychology by viewing the weekly, monthy charts.
now there is the art required ,to b learnt...
I have attached my 4 hr tell me this
that magenta moving average is it possible to draw a trendline on that ?
Attached Image (click to enlarge)
Click to Enlarge Name: 4 hr down.gif Size: 29 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #50,829
  • Jan 23, 2008 6:16pm Jan 23, 2008 6:16pm
Quoting Bones
now there is the art required ,to b learnt...
I have attached my 4 hr tell me this
that magenta moving average is it possible to draw a trendline on that ?
yes, just as you have done.
  • #50,830
  • Jan 23, 2008 6:16pm Jan 23, 2008 6:16pm
Quoting Bones
now there is the art required ,to b learnt...
I have attached my 4 hr tell me this
that magenta moving average is it possible to draw a trendline on that ?
Absolutely, TL or channels only require a minimum of 3 touches to show demand or supply lines

i draw MA tl's its a good ballpark idea where u will see the action starting

IMO gotta be a buyer and yesterday hi volume day set the stage last hi vol day was back on the day reversal in aug 15 16
"Millionaires don't use astrology, billionaires do"
  • #50,831
  • Jan 23, 2008 6:18pm Jan 23, 2008 6:18pm
Quoting OrionsWay
Absolutely, TL or channels only require a minimum of 3 touches to show demand or supply lines

i draw MA tl's its a good ballpark idea where u will see the action starting
man alive ,who says you cant lean somthing on a forum
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #50,832
  • Jan 23, 2008 6:30pm Jan 23, 2008 6:30pm
good luck with the trades guys ..im off to bed i decided to go short after all this..this place is great im learning everyday, didnt realise u guys go back so far with the charts....its a great tip
  • #50,833
  • Jan 23, 2008 6:39pm Jan 23, 2008 6:39pm
Quoting nAVIN2007
good luck with the trades guys ..im off to bed i decided to go short after all this..this place is great im learning everyday, didnt realise u guys go back so far with the charts....its a great tip
Hope that was not because of me ....watch out for that pesky rising TD on my 4hr chart.Also read the last few posts by 1K s
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #50,834
  • Jan 23, 2008 9:10pm Jan 23, 2008 9:10pm
Quoting Jor09
Hi. if you are a fibonacci trader, please tell me what you think about this monthly chart.

Monthly, this pair likes to rebounds out of the 38.2% of the fibo.
Always nice support there.
I will show you my point here.
Take a look of theses charts bellow.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBP-USD Jan 23-2008 fibo analisis.png Size: 46 KB
Click to Enlarge Name: GBP-USD Jan 23-2008 fibo analisis 32.8 first step..png Size: 25 KB
Click to Enlarge Name: GBP-USD Jan 23-2008 fibo analisis 32.8 second step..png Size: 21 KB
Click to Enlarge Name: GBP-USD Jan 23-2008 fibo analisis 32.8 third step..png Size: 38 KB
Click to Enlarge Name: GBP-USD Jan 23-2008 fibo analisis 32.8 last..png Size: 73 KB
  • #50,835
  • Jan 23, 2008 9:52pm Jan 23, 2008 9:52pm
Excellent analysis Carrera!

I would have to go with Chart #1 ... 38.2% Fib at 1.8303.

Here are my reasons :

- GB started lowering interest rates.
- GB housing market will probably have the same problems as the US
- GBP/JPY will probably continue to go down
- China is on FIRE and they JPY is a proxy for the CNY ie the JPY will go up with the CNY.

I do not know why people are not talking about the steps that the Chinese are taking to tame inflation (increased reserve requirements, appreciating CNY etc). China will be tightening (Asian economies actually) and the US, GB, Canada and probably EU will be dropping rates so that translates to JPY crosses DOWN!

My 2 cents.
I gotta say it again ..Really good charts!!
  • #50,836
  • Jan 23, 2008 10:31pm Jan 23, 2008 10:31pm
cable will reach 1.9720 today IMHO...

GL
  • #50,837
  • Jan 23, 2008 10:46pm Jan 23, 2008 10:46pm
Quoting ultimate
Excellent analysis Carrera!

I would have to go with Chart #1 ... 38.2% Fib at 1.8303.

Here are my reasons :

- GB started lowering interest rates.
- GB housing market will probably have the same problems as the US
- GBP/JPY will probably continue to go down
- China is on FIRE and they JPY is a proxy for the CNY ie the JPY will go up with the CNY.

I do not know why people are not talking about the steps that the Chinese are taking to tame inflation (increased reserve requirements, appreciating CNY etc). China will be tightening (Asian economies actually) and the US, GB, Canada and probably EU will be dropping rates so that translates to JPY crosses DOWN!

My 2 cents.
I gotta say it again ..Really good charts!!
Thanks,
Your two cents are very good too.
This is the beauty of this market, when you combine technical analysis with fundamentals. Together are a powerful tools.
  • #50,838
  • Jan 23, 2008 10:58pm Jan 23, 2008 10:58pm
Quoting Carrera
Thanks,
Your two cents are very good too.
This is the beauty of this market, when you combine technical analysis with fundamentals. Together are a powerful tools.
That and the two cents from everyone else, hopefully we can all make a dollar from it! Good trading all.
  • #50,839
  • Jan 24, 2008 1:18am Jan 24, 2008 1:18am
Quoting Carrera

Monthly, this pair likes to rebounds out of the 38.2% of the fibo.

Always nice support there.
I will show you my point here.
Take a look of theses charts bellow.


Intresting
the thing that strikes me the most there is you dont exactly get a bounce back into the up trend considering your looking at the monthly there are loads of bars at these levels before the resumption of former trend
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #50,840
  • Jan 24, 2008 1:19am Jan 24, 2008 1:19am
Good morning everyone. Just got home from a basketball game & some drinks with my brother.

It looks like markets are starting to move a bit, will we continue down or are we going to rebound up?
321 traders viewing now