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Cable Update (GBPUSD)

  • #54,101
  • Feb 15, 2008 10:49am Feb 15, 2008 10:49am
According to my charts, we are reaching 1.9550.
  • #54,102
  • Feb 15, 2008 10:54am Feb 15, 2008 10:54am
Quoting acidguy
i said "if they are bad", i even close my short from 1.9725 and the another i had on 1.9630...
of course if prices come bad, will short again...

any surprise can happen, if prices manage to come good, gu can skyrocket...
so beware duh
dont worry dude its just a demo account plus theres no way in hell they could come better than expected because if they do thats a lie. The people on the streets on UK are talking about deteriorating house prices.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #54,103
  • Feb 15, 2008 11:16am Feb 15, 2008 11:16am
Quoting forexguru
you mean I am idiot?
LOL, no no, not you! The guy who was shouting a 100 pip TP, and NO STOP LOSS!
  • #54,104
  • Feb 15, 2008 11:29am Feb 15, 2008 11:29am
wat now????????????????????
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #54,105
  • Feb 15, 2008 11:34am Feb 15, 2008 11:34am
Check the chart attached...tell me what you guys think...
Attached Image (click to enlarge)
Click to Enlarge Name: cable short tc 15 feb 2008.gif Size: 43 KB
  • #54,106
  • Feb 15, 2008 11:46am Feb 15, 2008 11:46am
yep i agree it looks downhill now, excelent analysis its as iif im looking at my own chart
  • #54,107
  • Feb 15, 2008 11:53am Feb 15, 2008 11:53am
This is where trading separates the sheep from the lions, who is going short?
All I know is that I am buying from a dip............ its resting on support as we speak.

Good Trading to all.
  • #54,108
  • Feb 15, 2008 11:54am Feb 15, 2008 11:54am
Quoting Doji Star
Check the chart attached...tell me what you guys think...
gr8 analysis u convinced even more to kepp my sell positions
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #54,109
  • Feb 15, 2008 12:03pm Feb 15, 2008 12:03pm
It was about time for a break from a bull cycle, there were five bull candles before this one bear candle was formed. Whoever lets one bear candle change their mind from buying......... well I wont be seeing them in the margin call line.
  • #54,110
  • Feb 15, 2008 12:12pm Feb 15, 2008 12:12pm
Quoting AmeriTrini
It was about time for a break from a bull cycle, there were five bull candles before this one bear candle was formed. Whoever lets one bear candle change their mind from buying......... well I wont be seeing them in the margin call line.
thats what i was thinking why am i shorting when all the signs are bullish but we have moved down so much that the daily candle is now showing a bearish engulfing formation and perhaps means change of trend, hence down we go, me thinking..this is really playing with my mind and now im lost
  • #54,111
  • Feb 15, 2008 12:30pm Feb 15, 2008 12:30pm
Quoting nAVIN2007
thats what i was thinking why am i shorting when all the signs are bullish but we have moved down so much that the daily candle is now showing a bearish engulfing formation and perhaps means change of trend, hence down we go, me thinking..this is really playing with my mind and now im lost
That bearish engulfing only plays out when the next candle gives confirmation, but we will not get that confirmation, because we have housing data coming out for the US next week and we all know how that is going to be.............
  • #54,112
  • Feb 15, 2008 12:32pm Feb 15, 2008 12:32pm
Quoting AmeriTrini
It was about time for a break from a bull cycle, there were five bull candles before this one bear candle was formed. Whoever lets one bear candle change their mind from buying......... well I wont be seeing them in the margin call line.
could u explain to me how u saw only one bear candle because i mean if ur talking about the daily chart the channel seems to be leading south. anyway im just new at this if u could correct this i'd highly appreciate this.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #54,113
  • Feb 15, 2008 12:38pm Feb 15, 2008 12:38pm
Quoting AmeriTrini
That bearish engulfing only plays out when the next candle gives confirmation, but we will not get that confirmation, because we have housing data coming out for the US next week and we all know how that is going to be.............
LOL ...your always one step ahead, thx god im still on a demo, this is great learning experience
  • #54,114
  • Feb 15, 2008 12:42pm Feb 15, 2008 12:42pm
Quoting Doji Star
Check the chart attached...tell me what you guys think...

I still aim for 1.94 levels
  • #54,115
  • Feb 15, 2008 12:42pm Feb 15, 2008 12:42pm
Quoting salah k.
could u explain to me how u saw only one bear candle because i mean if ur talking about the daily chart the channel seems to be leading south. anyway im just new at this if u could correct this i'd highly appreciate this.
easy, open up your daily chart a look at how many bull candles you see from the 2/7 till now and tell me how many bear candles you see from that same period?
  • #54,116
  • Feb 15, 2008 12:45pm Feb 15, 2008 12:45pm
Quoting AmeriTrini
easy, open up your daily chart a look at how many bull candles you see from the 2/7 till now and tell me how many bear candles you see from that same period?
Check the Daily Chart.. and todays candle should tell you we are In Bearish trend now.
  • #54,117
  • Feb 15, 2008 12:47pm Feb 15, 2008 12:47pm
Quoting jacobtrader
Check the Daily Chart.. and todays candle should tell you we are In Bearish trend now.
One candle (the candle is not even done and wont be until sunday) doesnt tell me we are in a bearish trend, sorry. you have been callin shorts all freaking week, its about time something went your way!!!!
  • #54,118
  • Feb 15, 2008 12:50pm Feb 15, 2008 12:50pm
  • #54,119
  • Feb 15, 2008 12:55pm Feb 15, 2008 12:55pm
Quoting AmeriTrini
One candle (the candle is not even done and wont be until sunday) doesnt tell me we are in a bearish trend, sorry. you have been callin shorts all freaking week, its about time something went your way!!!!

Its time for you to read some books.. :.. And pratice what every candle tells in this weekend.. Shall help you.
  • #54,120
  • Feb 15, 2008 12:55pm Feb 15, 2008 12:55pm
Quoting jacobtrader
Check the Daily Chart.. and todays candle should tell you we are In Bearish trend now.
Not so fast on the Bearish Trend, especially using one bearish engulfing candle.....which by the way is not that impressive...for that matter we should be in a bullish trend according to the weekly charts. same thing different side..

the thing about engulfing candles like that, is the next candle, if it confirms it or not....

On a side note, I have Bullish next week early before we start to see another significant decline.....in addition to that take a look at the 4 hour chart....fib levels, 38.2% was nicely penetrated then candle closed above, wouldn't that mean bullish beginning to continue?

All I am saying is make sure you look at the big picture, don't base an analysis off one candle
The only sovereign I can allow to rule me is reason.
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