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Cable Update (GBPUSD)

  • #51,021
  • Jan 25, 2008 2:03am Jan 25, 2008 2:03am
Quoting Hansbrocks
Do you guys think we might see a reversal very soon ? I'm thinking shorting soon, at 1.9864.

I may wait to see if 1.99 breaks; if so, I see next resistance at 2.01. Does anyone else see the same thing?
  • #51,022
  • Jan 25, 2008 2:15am Jan 25, 2008 2:15am
Morning guys!

Have a look into my chart, according to it, cable is in downtrend and he is moving normaly, unless he will break upper line @9850.
Attached Image (click to enlarge)
Click to Enlarge Name: cable_channel.gif Size: 9 KB
  • #51,023
  • Jan 25, 2008 2:16am Jan 25, 2008 2:16am
i think we better wait after it brakes all the barrier since the fibo extended give a bullish sign...
Never Give Up.....
  • #51,024
  • Jan 25, 2008 2:45am Jan 25, 2008 2:45am
with no news to upset anything just watch Gold. Gold opend at 891.3 yesterday now at 921.85. If gold goes up dollar goes down all els goes up! Economists predict gold to hit $1000.
  • #51,025
  • Jan 25, 2008 2:46am Jan 25, 2008 2:46am
If 1.9808 may be the new support, if it holds up we may see a big move up.
  • #51,026
  • Jan 25, 2008 2:50am Jan 25, 2008 2:50am
Anybody trading UJ. We hit resistance now 107.80. This has been important level on 22/23 Nov and 14-16 Jan. Will it retract from here? Already at 107.67!
  • #51,027
  • Jan 25, 2008 2:54am Jan 25, 2008 2:54am
Ok, I'm thinking we may see 1.9718 maybe as low as 1.9620.
  • #51,028
  • Jan 25, 2008 3:06am Jan 25, 2008 3:06am
short with 2 lots on GJ and 1 on GU.. i love GJ.. lol.. nice fat pips..
i see a nice little bear.. if UJ goes down, GJ goes down..
  • #51,029
  • Jan 25, 2008 3:11am Jan 25, 2008 3:11am
Quoting lyy.sg
short with 2 lots on GJ and 1 on GU.. i love GJ.. lol.. nice fat pips..
i see a nice little bear.. if UJ goes down, GJ goes down..
where is your tp?
  • #51,030
  • Jan 25, 2008 3:32am Jan 25, 2008 3:32am
i dun put tp.. =p
  • #51,031
  • Jan 25, 2008 3:55am Jan 25, 2008 3:55am
Quoting AmeriTrini
its going speedy!!!
im still in ...lol
1 lot on gpd price 1.9770, SP1.9461 target for 2+ and
1 lot on eur price 1.4764, SP1.4653 target 1.4889
so far down -150$
but im sure this is going up...
  • #51,032
  • Jan 25, 2008 4:10am Jan 25, 2008 4:10am
y up?
  • #51,033
  • Jan 25, 2008 4:10am Jan 25, 2008 4:10am
Can someone explain and write at least one reason, why cable should head up and cross trend line?
Becouse i see nothing similar to that
  • #51,034
  • Jan 25, 2008 4:18am Jan 25, 2008 4:18am
lol, i just closed all my positions took some 10-30 pip profit.. i'm outta here.. its a lil too dangerous right now.. fridays.. oh wells..

lastly, i wanna ask u guys, say if i buy GBP/USD, my broker gives me interest for holding it overnight, the rollover.

will i get rollover for weekends? lol.. sry man, pardon me, i'm new.. dun flame pls..
  • #51,035
  • Jan 25, 2008 4:19am Jan 25, 2008 4:19am
Support at 1.9785 is holding up, break of 1.9850 will open up poss. 1.99 which we may see today by end of trading.
  • #51,036
  • Jan 25, 2008 4:29am Jan 25, 2008 4:29am
Quoting lyy.sg
y up?
on the £ chart....
weekly chart shows bullish candle, looks like a bounce on the 38.2 fib level..its possible it may go to 1.9921 and then encounter resistance from trend line to break trend. the 100 day moving average is also providing support to the 38.2 fib.
Daily chart shows price has broken out of the trend line channel and there no reason i can see why it want to go back in there.....lol
Its past the 23.6 fib and it may retrace to 50% (i think we are in a start of a uptrend retracement)
my real target is 1.9930 after that i need to look once again.
  • #51,037
  • Jan 25, 2008 4:32am Jan 25, 2008 4:32am
HUGE down can be possible

we are following H4 Channel and its time to go for down

and look at my chart

Hope this help!

i am already short from 1.9830

in my channel you can see half butterfly downside will complete the whole butterfly picture.
Attached Image (click to enlarge)
Click to Enlarge Name: down1.gif Size: 16 KB
  • #51,038
  • Jan 25, 2008 4:39am Jan 25, 2008 4:39am
Quoting nAVIN2007
on the £ chart....
weekly chart shows bullish candle, looks like a bounce on the 38.2 fib level..its possible it may go to 1.9921 and then encounter resistance from trend line to break trend. the 100 day moving average is also providing support to the 38.2 fib.
Daily chart shows price has broken out of the trend line channel and there no reason i can see why it want to go back in there.....lol
Its past the 23.6 fib and it may retrace to 50% (i think we are in a start of a uptrend retracement)
my real target is 1.9930 after that i need to look once again.
Yes, very good analysis.
  • #51,039
  • Jan 25, 2008 4:45am Jan 25, 2008 4:45am
Hello designer,

you should study also fundamentals not only technical. The bullish bias is very strong, what makes you think that forex is going up and down in symmetry?

All channels formations will break soon or later, dollar interest rates has been down 0.75% . Who wants to buy $ right now?

This movement down you see it is just a correction.

Only if cable breaks support 1.9735 , you could seriously look for more down movement, now it just plays the correction.

Quoting Designer1
HUGE down can be possible

we are following H4 Channel and its time to go for down

and look at my chart

Hope this help!

i am already short from 1.9830

in my channel you can see half butterfly downside will complete the whole butterfly picture.
  • #51,040
  • Jan 25, 2008 4:49am Jan 25, 2008 4:49am
Quoting nAVIN2007
on the £ chart....
weekly chart shows bullish candle, looks like a bounce on the 38.2 fib level..its possible it may go to 1.9921 and then encounter resistance from trend line to break trend. the 100 day moving average is also providing support to the 38.2 fib.
Daily chart shows price has broken out of the trend line channel and there no reason i can see why it want to go back in there.....lol
Its past the 23.6 fib and it may retrace to 50% (i think we are in a start of a uptrend retracement)
my real target is 1.9930 after that i need to look once again.
seems logical, but also remember, that today ( or Monday ), we should see retracement down of 19840 till about 1.9660
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