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Cable Update (GBPUSD)

  • #54,461
  • Feb 18, 2008 12:45pm Feb 18, 2008 12:45pm
Ok I'm not sure why so many people were long today/yesterday. I guess for scalps it might be ok but we are in a longer term down trend now. Friday the cable bounced hard off resistance (not a bullish sign!) as we can see from Friday's bearish engulfing candle. Resistance now around 1.9402, if 1.94 goes then it may fall pretty far. The daily trend is down unless 1.9958 gets broken, which would make a double bottom. Good luck guys!
Attached Image (click to enlarge)
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  • #54,462
  • Feb 18, 2008 12:50pm Feb 18, 2008 12:50pm
Afternoon people:

My prediction for a real quick summary:
We can clearly see a potential drop to 1.9435, and a retrace to at least 9580, should give you a nice 100 pip shot

Anyone else a agree? anyone want a picture?
And your mouth dropped
  • #54,463
  • Feb 18, 2008 1:12pm Feb 18, 2008 1:12pm
Quoting makey2u
Afternoon people:

My prediction for a real quick summary:
We can clearly see a potential drop to 1.9435, and a retrace to at least 9580, should give you a nice 100 pip shot

Anyone else a agree? anyone want a picture?
need a picture buddy
  • #54,464
  • Feb 18, 2008 1:24pm Feb 18, 2008 1:24pm
Quoting makey2u
Afternoon people:

My prediction for a real quick summary:
We can clearly see a potential drop to 1.9435, and a retrace to at least 9580, should give you a nice 100 pip shot

Anyone else a agree? anyone want a picture?
Hi,
I think more to 1.9415, but i don't think that today, let us see the analysis by the end of today
Attached Image
  • #54,465
  • Feb 18, 2008 1:30pm Feb 18, 2008 1:30pm
I am going to eat everyones shorts and it going to start tomorrow. All short positions should be liquidated immediately!!!

  • #54,466
  • Feb 18, 2008 1:36pm Feb 18, 2008 1:36pm
Quoting AmeriTrini
I am going to eat everyones shorts and it going to start tomorrow. All short positions should be liquidated immediately!!!

hey man y do u say that?
im asking to learn from ur analysis.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #54,467
  • Feb 18, 2008 1:38pm Feb 18, 2008 1:38pm
Quoting makey2u
Afternoon people:

My prediction for a real quick summary:
We can clearly see a potential drop to 1.9435, and a retrace to at least 9580, should give you a nice 100 pip shot

Anyone else a agree? anyone want a picture?
yes sounds good i have a cheeky buy right there Mikey
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #54,468
  • Feb 18, 2008 1:40pm Feb 18, 2008 1:40pm
Quoting Abuawad
Hi,
I think more to 1.9415, but i don't think that today, let us see the analysis by the end of today
If u look at the 4 hr time frames there a bullish engulfing candle, we are moving up now..me thinks
TP = 1.9525
  • #54,469
  • Feb 18, 2008 1:41pm Feb 18, 2008 1:41pm
I just looked at every timeframe from 5 min to weekly, and trend is down on every single one of them. I guess you see this as a bullish sign?

Quoting AmeriTrini
I am going to eat everyones shorts and it going to start tomorrow. All short positions should be liquidated immediately!!!

  • #54,470
  • Feb 18, 2008 1:43pm Feb 18, 2008 1:43pm
Quoting nAVIN2007
If u look at the 4 hr time frames there a bullish engulfing candle, we are moving up now..me thinks
TP = 1.9525
i'm agree with you that's why i didn't confirm it. and say about the end day analysis
  • #54,471
  • Feb 18, 2008 1:45pm Feb 18, 2008 1:45pm
Consolidation in triangle waiting for breakout,i think to the upside but am open minded.
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #54,472
  • Feb 18, 2008 1:50pm Feb 18, 2008 1:50pm
long again. but if drops again, will apply the same strategy. sl at 1.9390 but a pending buy order there with bigger lots

we will see how much you can fall baby....
  • #54,473
  • Feb 18, 2008 1:55pm Feb 18, 2008 1:55pm
Quoting Betard
I just looked at every timeframe from 5 min to weekly, and trend is down on every single one of them. I guess you see this as a bullish sign?
Yes, this is clear proof of bullishness!!!
  • #54,474
  • Feb 18, 2008 1:57pm Feb 18, 2008 1:57pm
Quoting acidguy
long again. but if drops again, will apply the same strategy. sl at 1.9390 but a pending buy order there with bigger lots

we will see how much you can fall baby....
Out of interested long to which target u think (curious)
  • #54,475
  • Feb 18, 2008 2:00pm Feb 18, 2008 2:00pm
this is question i hope can be answered.

Did the fact that European equities were bullish today have anything to do with euro and pound?????
??????????????????????
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #54,476
  • Feb 18, 2008 2:06pm Feb 18, 2008 2:06pm
Quote
Originally Posted by Betard http://forexfactory.com/images/buttons/viewpost.gif
I just looked at every timeframe from 5 min to weekly, and trend is down on every single one of them. I guess you see this as a bullish sign?



Quoting forexmoments
Yes, this is clear proof of bullishness!!!
Yes, but also the higher lows on the daily and 4hr, I regard those as the strongest bullish sign.
  • #54,477
  • Feb 18, 2008 2:09pm Feb 18, 2008 2:09pm
Quoting Betard
I just looked at every timeframe from 5 min to weekly, and trend is down on every single one of them. I guess you see this as a bullish sign?
Ameri is thinking a bit more long term than most here , market should turn, only after such a fall needs time, in my opinion he is a true contraian

We just dont need anymore Northern Rock
Scandals LOL

Otherwise I can see plenty of told you so's comming my way !
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #54,478
  • Feb 18, 2008 2:16pm Feb 18, 2008 2:16pm
I dont like making 20 trades a day and then saying, I made 100 pips, WHOOPIE!!!

One good trade and thats it!!! ONE TRADE. Thats a sign of GREAT trader, thats where I want to be and I will get there.
  • #54,479
  • Edited 2:35pm Feb 18, 2008 2:18pm | Edited 2:35pm
yeah... well, bulls are watching from aside. i agree with you, there are signs that in the near future we might see a rally BUT i don't see any confirmation yet (i mean, as i write).
just a hunch... it's gonna drop more (or move sideways) until wednesday, when we have important news on gbp and usd. i wouldn't open longs right now. IF news are good for gbp (and neutral or bad for usd), or IF g-u continues to drop more until the news... then we'll probably see a rally after that.

Quoting AmeriTrini
[/i]
Yes, but also the higher lows on the daily and 4hr, I regard those as the strongest bullish sign.
Nihil Sine Deo.
  • #54,480
  • Feb 18, 2008 2:35pm Feb 18, 2008 2:35pm
Quoting AmeriTrini
I dont like making 20 trades a day and then saying, I made 100 pips, WHOOPIE!!!

One good trade and thats it!!! ONE TRADE. Thats a sign of GREAT trader, thats where I want to be and I will get there.
Any1 that knows what the hell they are doing respects u and i for one value your views, nobody can get it right 100% of the time, only most of the time at best and u do this
keep yur comments coming
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