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Cable Update (GBPUSD)

  • #51,381
  • Jan 30, 2008 6:09am Jan 30, 2008 6:09am
Quoting YudhaGBP7
SL hit . Waiting FOMC...

Designer, up to 2.0??
how was you SL hit why would you place SL under the resistance? fib resistance at 9960 and daily R1 at 945 at least u should have placed stop above 65
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  • #51,382
  • Jan 30, 2008 6:13am Jan 30, 2008 6:13am
Quoting nam
Sorry to sound like a newbie, but what is this "cable" that you guys are talking about. I've been trading GBPUSD for about 5 days now, betting on it going up (and it's been working), but it seems like everyone else is having opposite views. Just curious why.

Ok then keep Looooooong
  • #51,383
  • Jan 30, 2008 6:13am Jan 30, 2008 6:13am
Quoting quickh23a
how was you SL hit why would you place SL under the resistance? fib resistance at 9960 and daily R1 at 945 at least u should have placed stop above 65
my system told that (bearish wedge channel).... failed....
it's ok... still learning process...
"IT'S GOING TO BE LIKE COMING INTO THE JUNGLE" - K G
  • #51,384
  • Jan 30, 2008 6:13am Jan 30, 2008 6:13am
right now i dont do trade its time for partial rise declien

so better to watch just cable

what i am saying Cable break the major trenline in daily chart and H4 and H1 with full candle so target is now 2.0000 area

before we go that area cable will come back again in that trendline and down till 9850 area and that is the time we can have buy the cable to go with 2.000 area

i might be wrong for partial rise declien may be cable direct go 2.000 area or cable will come again the trendline and 9800 area and then UP for Long upside
  • #51,385
  • Jan 30, 2008 6:16am Jan 30, 2008 6:16am
Quoting Designer1
right now i dont do trade its time for partial rise declien

so better to watch just cable

what i am saying Cable break the major trenline in daily chart and H4 and H1 with full candle so target is now 2.0000 area

before we go that area cable will come back again in that trendline and down till 9850 area and that is the time we can have buy the cable to go with 2.000 area

i might be wrong for partial rise declien may be cable direct go 2.000 area or cable will come again the trendline and 9800 area and then UP for Long upside
better wait till fomc rate...
"IT'S GOING TO BE LIKE COMING INTO THE JUNGLE" - K G
  • #51,386
  • Jan 30, 2008 6:19am Jan 30, 2008 6:19am
Quoting Abuawad
Ok then keep Looooooong
I asked "why". I didn't laugh at you guys for going short. Thanks for your input though, it was very helpful. I'm glad you could contribute such a vast amount of knowledge.
  • #51,387
  • Edited 6:24am Jan 30, 2008 6:23am | Edited 6:24am
Last Resistence zone now is Support Zone (H4)

http://img227.imageshack.us/img227/9726/skyson73op7.gif

Skyson support from 1.9908 until 1.9838 (H4) Support

Thanks all
  • #51,388
  • Jan 30, 2008 6:25am Jan 30, 2008 6:25am
Quoting nam
I asked "why". I didn't laugh at you guys for going short. Thanks for your input though, it was very helpful. I'm glad you could contribute such a vast amount of knowledge.

Sorry i don't mean that.
Why?
check the news table that will issue toady Here and check the attached chart you will see the S/R on Cable.
you can see that 1.9944 strong Res. Point.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 32 KB
  • #51,389
  • Jan 30, 2008 6:29am Jan 30, 2008 6:29am
chart
Attached Image (click to enlarge)
Click to Enlarge Name: cable1.JPG Size: 210 KB
  • #51,390
  • Jan 30, 2008 6:35am Jan 30, 2008 6:35am
Quoting nam
Sorry to sound like a newbie, but what is this "cable" that you guys are talking about. I've been trading GBPUSD for about 5 days now, betting on it going up (and it's been working), but it seems like everyone else is having opposite views. Just curious why.
Look right at the bottom of this page there is a thread on "Why is GBP called cable"
  • #51,391
  • Jan 30, 2008 6:40am Jan 30, 2008 6:40am
Quoting Abuawad
Sorry i don't mean that.
Why?
check the news table that will issue toady Here and check the attached chart you will see the S/R on Cable.
you can see that 1.9944 strong Res. Point.
OK all indicators say Short, But news could be very bad for dollar, then we break any and all resistance?
  • #51,392
  • Jan 30, 2008 6:44am Jan 30, 2008 6:44am
Quoting nam
Sorry to sound like a newbie, but what is this "cable" that you guys are talking about. I've been trading GBPUSD for about 5 days now, betting on it going up (and it's been working), but it seems like everyone else is having opposite views. Just curious why.
Hello there.

Cable is another name for GBP/USD pair.

Its good to know you have been going long. So you are new? GBP/USD is trending nicely for this couple of weeks but you need to know there are time where it goes for serious ranging. All the best nam.


--TNT--
I Love Forex Factory!
  • #51,393
  • Jan 30, 2008 6:48am Jan 30, 2008 6:48am
GU will print 2.000 later today
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  • #51,394
  • Jan 30, 2008 6:49am Jan 30, 2008 6:49am
Quoting Runway Trade
OK all indicators say Short, But news could be very bad for dollar, then we break any and all resistance?

I agree with you on that.
  • #51,395
  • Jan 30, 2008 7:12am Jan 30, 2008 7:12am
Quoting camisa
chart
Thanks for this chart, another one seeing the big picture, gbp bulls managed to join it again in the trend. what kind of....

so, who knows what the hell are they planning now to drive it.
maximum fibo is 2.0030 but after today usd rate cut, this pair could end about 2.0300 easily and the next days probably 2.0800 or even beyond last top.
  • #51,396
  • Jan 30, 2008 7:14am Jan 30, 2008 7:14am
Quoting --TNT--
Hello there.

Cable is another name for GBP/USD pair.

Its good to know you have been going long. So you are new? GBP/USD is trending nicely for this couple of weeks but you need to know there are time where it goes for serious ranging. All the best nam.


--TNT--
Thanks for the info. I'm relatively new to the forex world, but I like to think I have a basic grasp on how it works. Trying to mix a little fundamental with a little bit of technical analysis. It's been working so far. With a practice account I've made 8.8% back so far trading only GBPUSD and 2 mini-lots at a time. Not sure how long that will last cause I've had a few practice accounts tank on me so far.
  • #51,397
  • Jan 30, 2008 7:18am Jan 30, 2008 7:18am
watch out my friend...cable is crazy going down..and start to move its direction down trend... patient pays me finally..what do think acid guy?
  • #51,398
  • Jan 30, 2008 7:18am Jan 30, 2008 7:18am
Stoch(5,3,3) is in overbought territory.....

Rate cut will probably be 50BP which is already priced in.

Who knows what can happen....

It looks like it's going down unless the FED pulls something crazy..
  • #51,399
  • Jan 30, 2008 7:19am Jan 30, 2008 7:19am
Quoting Abuawad
Sorry i don't mean that.
Why?
check the news table that will issue toady Here and check the attached chart you will see the S/R on Cable.
you can see that 1.9944 strong Res. Point.

Loooooooooool 1.9944 is s good entry point to 1.9980
  • #51,400
  • Jan 30, 2008 7:21am Jan 30, 2008 7:21am
danger !!! danger!!!cable is going down...it's really going down my friend...i pretty sure this time...i short with a huge lots this time...be carefull all my friend..
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