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Cable Update (GBPUSD)

  • #58,881
  • Mar 19, 2008 6:05am Mar 19, 2008 6:05am
Is much better than expected- +4 from previous.

Thats very positive for the GBP. But why hasn't the market reacted?
  • #58,882
  • Mar 19, 2008 6:14am Mar 19, 2008 6:14am
the market was expecting 8 people to hold and 1 to cut
they got 7 to hold and 2 to cut
and with infalationary fears moderating im sure they will cut this meeting(in 2 weeks)


nice pic

"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #58,883
  • Mar 19, 2008 6:14am Mar 19, 2008 6:14am
yes Salah it does, but i highly dought this to be for a long time, a very good weekly support (my ppz area) as well as the 365 ema are all around to stop the price intruding them. so just wait...
I believe . . .
  • #58,884
  • Mar 19, 2008 6:16am Mar 19, 2008 6:16am
Quoting Abuawad
19-3-2008
from 2.0075 to 2.0152
+77 pip
from 2.0035 to 1.9996
+39 pip

+116 pip
  • #58,885
  • Mar 19, 2008 6:19am Mar 19, 2008 6:19am
Quoting ghous
yes Salah it does, but i highly dought this to be for a long time, a very good weekly support (my ppz area) as well as the 365 ema are all around to stop the price intruding them. so just wait...
hey buddy do u think we r going up
if u do were to
if u think were going down(like me)
were to ?
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #58,886
  • Mar 19, 2008 6:33am Mar 19, 2008 6:33am
Facing a crucial level @ .9960 area. Tested for the third time, 3 days in a row;
Attached Image
Measure twice, cut once
  • #58,887
  • Mar 19, 2008 6:33am Mar 19, 2008 6:33am
Quote
hey buddy do u think we r going up
if u do were to
if u think were going down(like me)
were to ?

http://i81.photobucket.com/albums/j2...us/lskgh-1.gif
I believe . . .
  • #58,888
  • Mar 19, 2008 6:46am Mar 19, 2008 6:46am
Quoting ghous
http://i81.photobucket.com/albums/j2...us/lskgh-1.gif


great analysis ...welldone )
  • #58,889
  • Mar 19, 2008 6:49am Mar 19, 2008 6:49am
ghous well done mate
but im still sticking with weak cable
we might be correcting to 2.0100 area but im seriously considering that by the end of the day cable will have touched 98 area.

time will tell my friend
good luck with ur trading and thnx for showing ur point.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #58,890
  • Mar 19, 2008 6:51am Mar 19, 2008 6:51am
oh i forgot to mention that those white horizontal lines are also my S and R levels but there off the 1H only, i keep them to assist myself of what's happenning in the short term, as that's what i am most concerned abt...
I believe . . .
  • #58,891
  • Mar 19, 2008 6:56am Mar 19, 2008 6:56am
Quoting salah k.
ghous well done mate
but im still sticking with weak cable
we might be correcting to 2.0100 area but im seriously considering that by the end of the day cable will have touched 98 area.

time will tell my friend
good luck with ur trading and thnx for showing ur point.
you may be right, my trading basically focuses on what the price is doing for the next few candles on the hourly chart, what i explained in the chart above might just be the correction you mentioned, but that's what i aim for...

but anyways i am not very positive on the cable today, certainly not the best of trading days, i might just stay on the sidelines to see what happens...
I believe . . .
  • #58,892
  • Mar 19, 2008 7:14am Mar 19, 2008 7:14am
1 Hour chart
Attached Image
  • #58,893
  • Mar 19, 2008 7:32am Mar 19, 2008 7:32am
Abuawad..

You must have entered both these trades as price penetrated the "unknown" area and didn't wait for the 4hr candle to close?

Also, on your chart for the 1hour, that line that you have underlined in green.. what was it from..ie.. which time frame and was it a fan extension?

Thanks.
"I know how hard it is for you to put food on your family." George W. Bush
  • #58,894
  • Mar 19, 2008 7:37am Mar 19, 2008 7:37am
Quoting MarcoW
Abuawad..

You must have entered both these trades as price penetrated the "unknown" area and didn't wait for the 4hr candle to close?

Also, on your chart for the 1hour, that line that you have underlined in green.. what was it from..ie.. which time frame and was it a fan extension?

Thanks.
MarcoW,
i say before the near values should be foucs on the 1 hour chart.
please read the file in this link:
http://www.forexfactory.com/showpost...ostcount=58470
  • #58,895
  • Mar 19, 2008 7:42am Mar 19, 2008 7:42am
Quoting MarcoW
Abuawad..

You must have entered both these trades as price penetrated the "unknown" area and didn't wait for the 4hr candle to close?

Also, on your chart for the 1hour, that line that you have underlined in green.. what was it from..ie.. which time frame and was it a fan extension?

Thanks.
Monthly Fibo Fan 50.0
  • #58,896
  • Mar 19, 2008 7:46am Mar 19, 2008 7:46am
Quoting Abuawad
Monthly Fibo Fan 50.0
Thank you sir!

If I understand this correctly then, when price penetrates the "unknown " zone on the 4 hour chart, one drops down to the 1 hour chart and uses the close of the 1hour candle for possible entry.

Certainly if I had used this last night, i would have had similar results from what I see on the chart.
"I know how hard it is for you to put food on your family." George W. Bush
  • #58,897
  • Mar 19, 2008 7:48am Mar 19, 2008 7:48am
Quoting MarcoW
Thank you sir!

If I understand this correctly then, when price penetrates the "unknown " zone on the 4 hour chart, one drops down to the 1 hour chart and uses the close of the 1hour candle for possible entry.

Certainly if I had used this last night, i would have had similar results from what I see on the chart.
  • #58,898
  • Mar 19, 2008 7:59am Mar 19, 2008 7:59am
Wew... I never thought GU will dive below 2.0 this week.... Shorted the pair just now @ 1.9983... My target is pending, but would likely to close it at the same day...

"Go blind to the market and return rich"...................
  • #58,899
  • Mar 19, 2008 8:09am Mar 19, 2008 8:09am
Quoting fdowtf
Wew... I never thought GU will dive below 2.0 this week.... Shorted the pair just now @ 1.9983... My target is pending, but would likely to close it at the same day...

"Go blind to the market and return rich"...................
is it safe ?????
  • #58,900
  • Mar 19, 2008 8:13am Mar 19, 2008 8:13am
In my chart, it is below my 50 fibo weekly TF, currently testing 38.2 if I'm correct...
If you ask me whether it is safe or not, I'd say no since I risk some in entering any trade (stop loss)...^^
I don't have any idea about what fundamental can do to GU lately... So, just follow the trend....^^
Quoting juliekhan
is it safe ?????
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