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Cable Update (GBPUSD)

  • #51,101
  • Jan 26, 2008 3:16am Jan 26, 2008 3:16am
Finally what i was waiting its break now
i thought cable will touch that trend line and back but
daily candle complete upside and clearlly break the trendline

its easy call that we are now going huge upside movement
Attached Image (click to enlarge)
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  • #51,102
  • Jan 26, 2008 5:00am Jan 26, 2008 5:00am
make it closes above the line thou b4 u buy otherwise it might not breakout at all
  • #51,103
  • Jan 26, 2008 6:33am Jan 26, 2008 6:33am
Quoting nAVIN2007
make it closes above the line thou b4 u buy otherwise it might not breakout at all
its already closed just above ,get a new bar sunday ,might drop back to test the top of trendline but looks like were on our way up
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #51,104
  • Jan 26, 2008 9:41am Jan 26, 2008 9:41am
where do u guy see a target and SL?
  • #51,105
  • Jan 26, 2008 9:55am Jan 26, 2008 9:55am
Quoting bravado
hey you guys. it's me BRAVADO..

Where the Fu*k are you dude?
Just Trade It
  • #51,106
  • Jan 26, 2008 1:44pm Jan 26, 2008 1:44pm
Quoting Runway Trade
Triple top on the 1H, does that mean it should go up or down?
By nature of it being called a Top, price should go down.

Unless, of course, it doesn't.
  • #51,107
  • Jan 26, 2008 6:31pm Jan 26, 2008 6:31pm
Quoting Runway Trade
Triple top on the 1H, does that mean it should go up or down?
Tripple top, then what? See chart.

We need a confirmation first.
Attached Image (click to enlarge)
Click to Enlarge Name: Tripple top GBP-USD 1H TF.png Size: 53 KB
  • #51,108
  • Jan 26, 2008 6:36pm Jan 26, 2008 6:36pm
The cable is on its way up to 2.0000, it may even pass this and possibly hit 2.0400, but,........... , we could have retracement, if we have this so-called retracement, we will go back to atleast 1.9642 which is 38.2% fib. of the current rally. If the cable breaks 1.9850, I would just buy and let the momentum take me up.

This is just me thinking out loud, writing things down makes you really think them through and I don't like writing very much.................typing on forexfactory.com is much better!
  • #51,109
  • Jan 26, 2008 6:42pm Jan 26, 2008 6:42pm
My daily chart shows a possible change in character here. I would like more confirmation but one to keep an eye on for change in trend.

http://img149.imageshack.us/img149/3629/gbpusdgp6.png
Check Mate GAME OVER
  • #51,110
  • Jan 26, 2008 6:49pm Jan 26, 2008 6:49pm
very good my man.....before I can get bullish I need a retracement that makes a higher low......when that is in place we go for buys....until it does, this is only a retrace of the trend........Happy trading........
  • #51,111
  • Jan 26, 2008 6:50pm Jan 26, 2008 6:50pm
Quoting Learntocount
very good my man.....before I can get bullish I need a retracement that makes a higher low......when that is in place we go for buys....until it does, this is only a retrace of the trend........Happy trading........
I've learned this from you...heheheh
Check Mate GAME OVER
  • #51,112
  • Jan 26, 2008 6:54pm Jan 26, 2008 6:54pm
You can also see the interesting correlation with gbpusd &eurgbp
Check Mate GAME OVER
  • #51,113
  • Jan 27, 2008 1:27am Jan 27, 2008 1:27am
Need Big Retrace for go to 2.xxxxxxxx

At lease 100 pips
  • #51,114
  • Jan 27, 2008 5:21am Jan 27, 2008 5:21am
Good Day

Cable till now didnt break downtrend channel .... ... we have to take care
Attached Image (click to enlarge)
Click to Enlarge Name: gdaily.gif Size: 12 KB
  • #51,115
  • Jan 27, 2008 6:39am Jan 27, 2008 6:39am
Quoting deboooo2005
Good Day

Cable till now didnt break downtrend channel .... ... we have to take care
thats interesting deboooo2005 ,i cant get that last candle in my channel on daily ,no matter what one of them 3 top candles i use ,but I can on my 4hr off the top 2 ,anyone explain ?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #51,116
  • Jan 27, 2008 6:51am Jan 27, 2008 6:51am
Quoting deboooo2005
Good Day

Cable till now didnt break downtrend channel .... ... we have to take care

in my chart the trendline is broke and cable going upside i have showed you screenshot its break!
  • #51,117
  • Edited 8:29am Jan 27, 2008 7:43am | Edited 8:29am
Quoting deboooo2005
Good Day

Cable till now didnt break downtrend channel .... ... we have to take care
absolutely correct...the line isnt broke...my chart show exactly the same thing
A decision should not be made to go long till this trend line is broken it could bounce.....
see chart below
Attached Image (click to enlarge)
Click to Enlarge Name: gpd.JPG Size: 83 KB
  • #51,118
  • Jan 27, 2008 11:57am Jan 27, 2008 11:57am
see the screenshot all possible trendline cable break like a SMASHING SHOT....and gone to up!
Attached Image (click to enlarge)
Click to Enlarge Name: possible.gif Size: 29 KB
  • #51,119
  • Jan 27, 2008 12:35pm Jan 27, 2008 12:35pm
The action before that pin doesn't exactly deliver great hope. Any price action people want to comment on this?

IMNO (in my newbly opinion) I wouldn't take the trade till the direction was much clearer. Altho I guess a buy stop ~1.9870 might work. Any thoughts on that? Anyone here use buy stops to trade a potential breakout like that?
  • #51,120
  • Jan 27, 2008 12:38pm Jan 27, 2008 12:38pm
Plentyof res aqhead to test longs moxy
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