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Cable Update (GBPUSD)

  • #50,921
  • Jan 24, 2008 7:57am Jan 24, 2008 7:57am
Quoting bullrock
FX market is not a church, sorry.
I agree Bullrock - these god freaks are superstitious ninnies - they should keep it for church
  • #50,922
  • Jan 24, 2008 8:07am Jan 24, 2008 8:07am
We're currently at the 50% Fib from the 12/31 high of 2.0101 to the 1/22 low of 1.9336. At 1.9718 that is.
  • #50,923
  • Jan 24, 2008 8:09am Jan 24, 2008 8:09am
Quoting lessy
short @ 1.9639... close @ 1.9621..
kind a scary... thank you for reminding me...
shame on you for calling a bottom and then going short, stick to your plan. I did!!
  • #50,924
  • Jan 24, 2008 8:10am Jan 24, 2008 8:10am
Quoting allserene
I agree Bullrock - these god freaks are superstitious ninnies - they should keep it for church

superstitious ninnies ..i love it!!!!!
  • #50,925
  • Jan 24, 2008 8:11am Jan 24, 2008 8:11am
Quoting AmeriTrini
shame on you for calling a bottom and then going short, stick to your plan. I did!!
i thought the window was well spoted.......huh???? or was that just a fluke
  • #50,926
  • Jan 24, 2008 8:12am Jan 24, 2008 8:12am
61.8% from that high/low is 1.9808 which is also near the 1/4, 1/8 and 1/16 highs, so we may see some strong resistance in that area.
  • #50,927
  • Jan 24, 2008 8:13am Jan 24, 2008 8:13am
Quoting nAVIN2007
i thought the window was well spoted.......huh???? or was that just a fluke
i was long, since 1.9400!!! I stick to my plan.
  • #50,928
  • Jan 24, 2008 8:20am Jan 24, 2008 8:20am
Quoting AmeriTrini
i was long, since 1.9400!!! I stick to my plan.
welldone!!!!!! the good news is we can only learn from u
i wish u had a journal ...
  • #50,929
  • Jan 24, 2008 8:26am Jan 24, 2008 8:26am
cable facing First weekly resistance @ 1.9718 ... could cable break it or it will reverse to 1.9617 to long from there ... or to short from 1.9718 ...
  • #50,930
  • Jan 24, 2008 8:34am Jan 24, 2008 8:34am
Swing Trade, since 1,95 until 2.03 ...an lets GO!

Best Regards,
Marcelo Marques
  • #50,931
  • Jan 24, 2008 8:36am Jan 24, 2008 8:36am
Quoting deboooo2005
cable facing First weekly resistance @ 1.9718 ... could cable break it or it will reverse to 1.9617 to long from there ... or to short from 1.9718 ...
I show weekly resistance at 1.9739 and 23.6 fib retrace level ( daily ) 1.9768 , But I think this is a good time to sell. As it broke the daily channel and may retrace back to 1.9605/610 and bounce off the channel line.
  • #50,932
  • Jan 24, 2008 8:44am Jan 24, 2008 8:44am
Quoting dobbie11
I show weekly resistance at 1.9739 and 23.6 fib retrace level ( daily ) 1.9768 , But I think this is a good time to sell. As it broke the daily channel and may retrace back to 1.9605/610 and bounce off the channel line.
if u ask me the market is neutralizing...after such a bullish movement and now its overbought there hardly any movement down..the market is resting. i think it will resume bullish movement (macd neutralization) if it break the current resistance..to go long
I doubt it would go back that far to retest a trend line..at least i hope not!!!!!
  • #50,933
  • Jan 24, 2008 8:52am Jan 24, 2008 8:52am
Quoting nAVIN2007
if u ask me the market is neutralizing...after such a bullish movement and now its overbought there hardly any movement down..the market is resting. i think it will resume bullish movement (macd neutralization) if it break the current resistance..to go long
I doubt it would go back that far to retest a trend line..at least i hope not!!!!!
you may be correct I am also showing a the fib expansion of 1.618 at 1.9755 I have a short order pending at 1.9735 with a 50 pip sl and 100 pip tp
  • #50,934
  • Jan 24, 2008 8:55am Jan 24, 2008 8:55am
Quoting dobbie11
you may be correct I am also showing a the fib expansion of 1.618 at 1.9755 I have a short order pending at 1.9735 with a 50 pip sl and 100 pip tp
why do people like going short when the market is going UP!! these are the gamblers!!
  • #50,935
  • Jan 24, 2008 9:03am Jan 24, 2008 9:03am
Quoting AmeriTrini
why do people like going short when the market is going UP!! these are the gamblers!!
well it is all a gamble anyway isn't it. and I believe this is the beginning of wave "B" a correction of the the last move down. And you are correct sir the market is changing and going long. But we also need a minor retracement to form a wave 2 for a wave 3 up to complete wave "B" . So the 735 to 750 range is a nice short and tp at the 38.2 and 50 fib levels. This is a 2:1 risk. So how is it a gamble and before the move up I beleive we were looking short.
  • #50,936
  • Jan 24, 2008 9:04am Jan 24, 2008 9:04am
Quoting AmeriTrini
why do people like going short when the market is going UP!! these are the gamblers!!
its a pending order...incase it goes the other way....
  • #50,937
  • Jan 24, 2008 9:12am Jan 24, 2008 9:12am
Quoting AmeriTrini
why do people like going short when the market is going UP!!

Good question. I guess they know something we dont.....?




--TNT--
I Love Forex Factory!
  • #50,938
  • Jan 24, 2008 9:13am Jan 24, 2008 9:13am
Quoting nAVIN2007
its a pending order...incase it goes the other way....

Since it missed my short by 1 pip I have shorted at 1.9733. With a 55 pip sl and 100 pip tp.
  • #50,939
  • Jan 24, 2008 9:17am Jan 24, 2008 9:17am
Quoting dobbie11
Since it missed my short by 1 pip I have shorted at 1.9733. With a 55 pip sl and 100 pip tp.
That might be OK now. For a couple of reasons.
The GU went up enough for today as far as the averages are concerned. It has hit a 365 EMA from the bottom that acts as resistance. The 100 TP is OK too as a 89 EMA on the 4H chart and an upward sloping trendline might hold it around 1.9620 - 1.9630
.
  • #50,940
  • Jan 24, 2008 9:18am Jan 24, 2008 9:18am
Quoting dobbie11
well it is all a gamble anyway isn't it. and I believe this is the beginning of wave "B" a correction of the the last move down. And you are correct sir the market is changing and going long. But we also need a minor retracement to form a wave 2 for a wave 3 up to complete wave "B" . So the 735 to 750 range is a nice short and tp at the 38.2 and 50 fib levels. This is a 2:1 risk. So how is it a gamble and before the move up I beleive we were looking short.
if you think its all a gamble. instead, go the hard rock and "trade" there!
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