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Cable Update (GBPUSD)

  • #61,421
  • Apr 13, 2008 4:00am Apr 13, 2008 4:00am
Quoting Teefoo
Hi all

What about cabel this week??

i think up and then down target 1.93 levels ... jets211990 what do u think buddy?
  • #61,422
  • Apr 13, 2008 4:18am Apr 13, 2008 4:18am
As long as price meets resistance on fibbs and maintains...price is still looking bearish...(Green fibb)

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If resistnace gives out then i would be looking at some bullish sentiment but then would wait to come and try the support levelts to make sure sentiment is now bullish.
  • #61,423
  • Apr 13, 2008 4:32am Apr 13, 2008 4:32am
this is what im expecting ...

1.9649 i suspect a bounce its a good support ....price will move up..retracement and when it fairly high i would sell .....and enjoy the ride down ...trend is down ...so sell on a high ..

1.93 area is the target for the week ..


any1 agree with this analysis ....or wanna debate it
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  • #61,424
  • Apr 13, 2008 4:40am Apr 13, 2008 4:40am
Quoting nAVIN2007
this is what im expecting ...

1.9649 i suspect a bounce its a good support ....price will move up..retracement and when it fairly high i would sell .....and enjoy the ride down ...trend is down ...so sell on a high ..

1.93 area is the target for the week ..


any1 agree with this analysis ....or wanna debate it
Good stuff

Once again i only look at fibbs for support and resistance...i only care about support holds and whats going to give me pips lol...i believe price should come down some more...
  • #61,425
  • Apr 13, 2008 5:34am Apr 13, 2008 5:34am
Quoting nAVIN2007
this is what im expecting ...

1.9649 i suspect a bounce its a good support ....price will move up..retracement and when it fairly high i would sell .....and enjoy the ride down ...trend is down ...so sell on a high ..

1.93 area is the target for the week ..


any1 agree with this analysis ....or wanna debate it
as always my friend ur analysis is great and well thought
however i have to add something

we have UK PPI and CPI reports which are the most important inflation indicators and with oil and commodities being as high and volatile as they are i fear we will in turn see high inflation numbers which i think might either delay this downtrend movement or even possibly reverse it if dollar numbers are weak.

guys keep an eye on fundamentals they are truly the trigger in every chart.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #61,426
  • Apr 13, 2008 6:33am Apr 13, 2008 6:33am
Quoting nAVIN2007
i think up and then down target 1.93 levels ... jets211990 what do u think buddy?
That’s rightbuddy but I think cabel not retch to 1.93 this week because the euro pull the cable north, in the otherwise us forecast news not good, I think if euro news bad the cable dawn to 1.94
Grasp all lose all
  • #61,427
  • Apr 13, 2008 9:16am Apr 13, 2008 9:16am
Quoting nAVIN2007
this is what im expecting ...

1.9649 i suspect a bounce its a good support ....price will move up..retracement and when it fairly high i would sell .....and enjoy the ride down ...trend is down ...so sell on a high ..

1.93 area is the target for the week ..


any1 agree with this analysis ....or wanna debate it
Agree with you. Cable will move up but only a few pips due to many resistance based on all time frame. Therefore I don't think too easy to break 1.9744, 1.9760 and 1.9789. Then move down. Once 1st support at 1.9693 has been broken, will be easy fall to 1.9658 and then to level area 1.9572 - 1.9540.
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I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #61,428
  • Apr 13, 2008 9:22am Apr 13, 2008 9:22am
Quoting nAVIN2007
thats a interesting point!!!!!!
anyway i lost money but im still a success cause i learnt from it ..infact if i paid someone £550 to gain the knowledge i did at that cost id consider it bargain..Initally back in decemeber i paid £500 for a weekend course in stockmarket trading, I didnt learn nothing really other just a introduction to the market and opened my eyes towards forex....this seemed easier which gives a idea what i learned...LOL
I would have loved to be at this stage when i firsted started live, i realise now that fear is the enemy and the market is yur friend.
Fear will result in u losing yur money because it will become your focus and therefore be a distraction and this will lead to lack of attention to trades..lead to loss...

lets break this puppy in half.....and make a packet
despair through lack of fear is the destiny of the over optimistic

pain and fear are the body's equipment for survival

If these people who you pay for 'how to do it' courses were any good and really did know how it was done, they would not be running courses for spotty youths and confused retirees, they would be glued to their screens and making billions

I would - wouldn't you ?

Conclusion - forget em - you can get equally valid advice for free

PS what's all this about 'breaking puppies in half ' ? appalling phrase - what next, stamping on foetuses ? what about some positive images - 'let's work hard to nurse our bruised investments'
  • #61,429
  • Edited 9:43am Apr 13, 2008 9:28am | Edited 9:43am
Quoting allserene
despair through lack of fear is the destiny of the over optimistic

pain and fear are the body's equipment for survival

If these people who you pay for 'how to do it' courses were any good and really did know how it was done, they would not be running courses for spotty youths and confused retirees, they would be glued to their screens and making billions

I would - wouldn't you ?

Conclusion - forget em - you can get equally valid advice for free

PS what's all this about 'breaking puppies in half ' ? appalling phrase - what next, stamping on foetuses ? what about some positive images - 'let's work hard to nurse our bruised investments'
the thing is trading is difficult because people enter into it, not actually realising that making the directional decision is actually the easy bit its the behavioural tendencies which need to be tested....u only got to look at this forum to see the traps people are in...I myself was in it and because of these pitfall, successfull traders can make a killing ..(multiple streams of income) there just taping into a market were there a abundance of failures because trading is way underestimated, courses are held in weekend away from trading hours too and they preach and can do so because people wanna stop the loss...its just a way of making even more..they dont teach the techique or anything and besise the more they teach, the higher the failure rate goes up and the more they can make in the long hall..its all about perception

ur right buddy ....breaking a puppy in half was in reference to bad behaviour patterns as appossed to a real puppy....but yes yur right very bad phrase indeed ..good to have u back ..
  • #61,430
  • Apr 13, 2008 9:30am Apr 13, 2008 9:30am
Quoting nAVIN2007
this is what im expecting ...

1.9649 i suspect a bounce its a good support ....price will move up..retracement and when it fairly high i would sell .....and enjoy the ride down ...trend is down ...so sell on a high ..

1.93 area is the target for the week ..


any1 agree with this analysis ....or wanna debate it
I agree...I'm still short from 1.9903 but i'm gonna get out early at 1.94 though I think it might touch 1.93 just to be safe. There is major support down there.
  • #61,431
  • Apr 13, 2008 9:43am Apr 13, 2008 9:43am
My forecast for Monday
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Grasp all lose all
  • #61,432
  • Edited 10:31am Apr 13, 2008 9:44am | Edited 10:31am
Quoting Maxsmart
I agree...I'm still short from 1.9903 but i'm gonna get out early at 1.94 though I think it might touch 1.93 just to be safe. There is major support down there.

yur what i call a trader .....welldone buddy ..

1.9590 is definately a sure bet....but the monthly chart scares me a bit as to 1.94 we may just bounce of the daily long ..something to think about, seems alot of rejection to go down ..we might actually go up!....
probably just touch 1.93...and back up ...trend is up still this downtrend is only retracement i think ...

what do u think? this drop may actually just be a retracement level ....
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  • #61,433
  • Apr 13, 2008 10:52am Apr 13, 2008 10:52am
Quoting Teefoo
My forecast for Monday
replay
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Grasp all lose all
  • #61,434
  • Apr 13, 2008 11:36am Apr 13, 2008 11:36am
Step back from the forest and consider this on the weekly ...

http://www.forexfactory.com/showthread.php?p=1949453#post1949453
  • #61,435
  • Apr 13, 2008 11:44am Apr 13, 2008 11:44am
Quoting priceaction
Step back from the forest and consider this on the weekly ...

http://www.forexfactory.com/showthread.php?p=1949453#post1949453

I know what u mean ....lol
but u have see that 1.93 are is very strong and price respects channel ..i wanted to sell at the top but now im not sure as if this is good idea, infact buying around 1.93 would be excellent

see chart ..views on this would be apprecaited ..negative ones i prefer as this is purely for learning..if it is a retracement we wont even see 1.93...it might and can just go up..I doubt cable can become so weak not against a currency which is already in ecomonic crisis....or can it ....
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  • #61,436
  • Apr 13, 2008 12:28pm Apr 13, 2008 12:28pm
Navin, you haven't paid them £550 to learn so far, you've leant it to them and you expect to get it back 10,000 fold which makes £550 absolutely nothing in the grand scheme, remember that.

If you quit, then you've paid it to them, thats what they want you to plow in with a huge account from the get go, blow it all, never come back to get it back cause your totally demoralised. ( them being pig players / funds )
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #61,437
  • Apr 13, 2008 1:03pm Apr 13, 2008 1:03pm
I am still long 2 positions from 1.9700 and 2 more positions from 1.9720 I think we still have more room up then we will go down.
  • #61,438
  • Apr 13, 2008 1:13pm Apr 13, 2008 1:13pm
Quoting ak47dan2004
I am still long 2 positions from 1.9700 and 2 more positions from 1.9720 I think we still have more room up then we will go down.
can you post a chart to show why you feel this way for the others to see?
Don't chase the market, Let the market come to you
  • #61,439
  • Apr 13, 2008 1:28pm Apr 13, 2008 1:28pm
1D chart suggests down to me, but there isn't enough in it to place your bets on it, so we'll see.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #61,440
  • Apr 13, 2008 1:53pm Apr 13, 2008 1:53pm
pre-Wellington EUR trading 1.5645/70

GBP/USD 1.9630/65
usd/jpy 101.35/55

Thin liquidity anything goes! Knee-jerk favoured USD, wonder what smart money would be up to

gaps to fill
Don't chase the market, Let the market come to you
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