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Cable Update (GBPUSD)

  • #54,741
  • Feb 19, 2008 8:26am Feb 19, 2008 8:26am
if it breaks threw 19540 i will go long i think, 3 lines of resitance there on the 60min chart

http://img223.imageshack.us/img223/9168/ssqe0.jpg

i am no expert tho!
  • #54,742
  • Feb 19, 2008 8:31am Feb 19, 2008 8:31am
US markets r in. that might push dow and geppy
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #54,743
  • Feb 19, 2008 8:31am Feb 19, 2008 8:31am
Quoting bullrock
On the 15 min chart the Stoch oscillator fall to the bottom while the price stayed more or less at the same level when the stoch started to fall which means strength. And there is another dozen of factors that supports that.
what is your stochastic parameters?
  • #54,744
  • Feb 19, 2008 8:32am Feb 19, 2008 8:32am
7,3,3
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  • #54,745
  • Feb 19, 2008 8:32am Feb 19, 2008 8:32am
Quoting bullrock
7,3,3
thx
  • #54,746
  • Feb 19, 2008 8:38am Feb 19, 2008 8:38am
Yesterdays close and todays open constantly plus a few moving averages are constantley pulling back the GU.
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  • #54,747
  • Feb 19, 2008 8:39am Feb 19, 2008 8:39am
Quoting Genics
if it breaks threw 19540 i will go long i think, 3 lines of resitance there on the 60min chart

http://img223.imageshack.us/img223/9168/ssqe0.jpg

i am no expert tho!
You just drew a broadening bottom bullish reversal chart pattern. The widening triangle....
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  • #54,748
  • Feb 19, 2008 8:41am Feb 19, 2008 8:41am
is that right or wrong mate? ive only been at this a few months
  • #54,749
  • Feb 19, 2008 8:44am Feb 19, 2008 8:44am
Quoting Genics
is that right or wrong mate? ive only been at this a few months
Yes right. Some people can see it some dont. There is no need to pay much attention to it but as far as I am concerned it is one variable that I am watching ... The patterns...
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  • #54,750
  • Feb 19, 2008 8:45am Feb 19, 2008 8:45am
Quoting Genics
is that right or wrong mate? ive only been at this a few months
But watch out for the moving averages. They can act strong resistance,
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  • #54,751
  • Feb 19, 2008 8:46am Feb 19, 2008 8:46am
the line also intersects the pivot point, aswell as the restance line from the highs on the 18th and 15th on the 1hour chart
  • #54,752
  • Feb 19, 2008 9:06am Feb 19, 2008 9:06am
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  • #54,753
  • Feb 19, 2008 9:14am Feb 19, 2008 9:14am
http://img408.imageshack.us/img408/9746/ssvk1.jpg

2 different lines of resistance in the same place?
  • #54,754
  • Feb 19, 2008 9:28am Feb 19, 2008 9:28am
On the daily price is running out of space to move being squeezed into a directional move me thinks
Attached Image (click to enlarge)
Click to Enlarge Name: 4 hr mike.gif Size: 21 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #54,755
  • Feb 19, 2008 9:30am Feb 19, 2008 9:30am
what a weak gbp, gu probably has gone up by dollar usd weakness...

but if euro is soldoff whic is lekly cause is tanking... gu could be sent to hell.
me long winning some pips but ready to close trade if goes against me even 10 pips more.

maybe we will make new lows soon, very probable...
  • #54,756
  • Feb 19, 2008 9:30am Feb 19, 2008 9:30am
could break out either way couldn't it?
  • #54,757
  • Feb 19, 2008 9:35am Feb 19, 2008 9:35am
Quoting acidguy
what a weak gbp, gu probably has gone up by dollar usd weakness...

but if euro is soldoff whic is lekly cause is tanking... gu could be sent to hell.
me long winning some pips but ready to close trade if goes against me even 10 pips more.

maybe we will make new lows soon, very probable...
Well i dont know about that,when we were near the top a few weeks ago you could see a fall and it did ,today you have seen a possible rise,but mabe you are a little early both times,im still waiting for price to touch my rising trendline and will buy with tight stoploss.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #54,758
  • Feb 19, 2008 9:52am Feb 19, 2008 9:52am
I agree with that Bones. I expect that price will break down rather than up out of that wedge.
  • #54,759
  • Feb 19, 2008 10:06am Feb 19, 2008 10:06am
I got my analysis and we will sure break the 9400 level downside

even we will hit 9200 for sure in upcoming days

tringle happening daily chart,weekly chart which tells us 100% it will break 9400 level and goes down comeing soon - strong resistance at 9535
  • #54,760
  • Feb 19, 2008 10:07am Feb 19, 2008 10:07am
Quoting Bones
Well i dont know about that,when we were near the top a few weeks ago you could see a fall and it did ,today you have seen a possible rise,but mabe you are a little early both times,im still waiting for price to touch my rising trendline and will buy with tight stoploss.
thing is how good captain someone can be, its true.
many people called to buy gu on sunday after great uk report but later was known northen rock nationalization and gu was soldoff hard.
so gbp is still poisoned by that.

lost big, but then recovered all those losses making a long with big risk in 1.949x area.
put another long yesterday and still waiting. not wishing to exit "early" but of course if you see many crosses gbp is weak by itself. but usd weaker. so....
just my opinion, an euro selloff could definetely sent gu really down.
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