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Cable Update (GBPUSD)

  • #61,461
  • Apr 13, 2008 4:41pm Apr 13, 2008 4:41pm
Check the EuroUsd -130pips area if you want a gap down wowsa's.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #61,462
  • Apr 13, 2008 4:43pm Apr 13, 2008 4:43pm
Quoting Turveyd
Check the EuroUsd -130pips area if you want a gap down wowsa's.
For sure, I'm glad I've held onto my once losing short position. lol There were quite a few reasons for holding it but I will admit I was starting to get antsy! I'll post any analysis when I get back in about an hour or so.
I dream, therefore I become.
  • #61,463
  • Apr 13, 2008 5:48pm Apr 13, 2008 5:48pm
Quoting mike w
Talk about a giggity giggity gap! On the weekly charts, my 5 sma is resting at 1.98 so I would expect a move back to there before heading lower still. 1.95 is the first target. I really expect this gap to be filled fairly quickly this week and once we reach the 1.98 area or even close again, I plan on adding a much larger short position to the mix.
I dont think we'll see 1.98 again but possibly 1.9750 or less..........IMOHO.

  • #61,464
  • Apr 13, 2008 5:59pm Apr 13, 2008 5:59pm
i have a buy order at 9600 for a 70/100 pip retracement

IF it reaches 9720 before, I will sell (have another sell order there) for 9600

either way, 9600 seems logical in the short term..
  • #61,465
  • Apr 13, 2008 6:43pm Apr 13, 2008 6:43pm
Here's the latest Elliott Wave forecast on GBP. It's looking very good for a short on the Zig Zag wave C. the most profitable wave of all the waveforms. It has 160 rating and is very likely to occur.

I strongly recommend a short on the break of the Camarilla L3 line which is roughly 9654.

http://img72.imageshack.us/img72/274...1308cb2.th.jpg


Take profit would be a minimum of todays Camarilla H4/(H5 most likely) but on a daily we could see 1.9 to 1.87. This move will be fast so it's going to be very profitable.


I'll post another shot after a bit of time goes by today.

Johan
  • #61,466
  • Apr 13, 2008 8:23pm Apr 13, 2008 8:23pm
Quoting burkejonathan
Here's the latest Elliott Wave forecast on GBP. It's looking very good for a short on the Zig Zag wave C. the most profitable wave of all the waveforms. It has 160 rating and is very likely to occur.
How reliable are the EW predictions? How much discretionary input?

Quote
I strongly recommend a short on the break of the Camarilla L3 line which is roughly 9654.

19654 has been very strong S/R so you are probably right.
Darkness lies one inch ahead..
  • #61,467
  • Apr 13, 2008 9:11pm Apr 13, 2008 9:11pm
Quoting burkejonathan
Take profit would be a minimum of todays Camarilla H4/(H5 most likely) but on a daily we could see 1.9 to 1.87. This move will be fast so it's going to be very profitable.
I'm not sure what you mean by "fast," but I think we will hit the resistance at 1.934-1.936 range (if not in the 1.94 area) and bounce back up a bit before going back down. While I do think we make it to 1.87 (I have my take profit in the 1.87s) I still think that is about 2 months away. What time frame do you mean by fast?

To be honest I'm still learning the EW analysis so my expertise is far below yours, but we are going in the same direction
  • #61,468
  • Apr 13, 2008 9:48pm Apr 13, 2008 9:48pm
I am in profit on my first 2 positions and am only down 3 pips on my second 2 I am getting really good at this market we call forex. I will take profit at 1.9847.
  • #61,469
  • Apr 13, 2008 10:12pm Apr 13, 2008 10:12pm
Quoting ak47dan2004
I am in profit on my first 2 positions and am only down 3 pips on my second 2 I am getting really good at this market we call forex. I will take profit at 1.9847.
Nice job! I am assuming you entered long on the cable. What was your entry point? Could you tell me why you entered long, when everybody was saying the cable was going down?
Expected the unexpected
  • #61,470
  • Apr 13, 2008 10:22pm Apr 13, 2008 10:22pm
this is my post from earlier today the weird thing is I use elliot wave also but I saw up I am down right now but its looking good (to me anyway). Up and down we go but preferably up. We will see what happens if I hit my target.
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.
  • #61,471
  • Apr 13, 2008 10:35pm Apr 13, 2008 10:35pm
Quoting ak47dan2004
this is my post from earlier today the weird thing is I use elliot wave also but I saw up I am down right now but its looking good (to me anyway). Up and down we go but preferably up. We will see what happens if I hit my target.

Anyone hear from Abuawad?

Hope he is ok.
"I know how hard it is for you to put food on your family." George W. Bush
  • #61,472
  • Apr 13, 2008 10:48pm Apr 13, 2008 10:48pm
Quoting scyang
Nice job! I am assuming you entered long on the cable. What was your entry point? Could you tell me why you entered long, when everybody was saying the cable was going down?
its easy.. just draw a valid channel on tf4H and you can see clear direction for cable to move up for at least around possible high around 1.9780 before it will continue down.. but, price seems is already projecting a way down.. watch tf30 closely..
  • #61,473
  • Apr 13, 2008 11:53pm Apr 13, 2008 11:53pm
Quoting johnbaem
its easy.. just draw a valid channel on tf4H and you can see clear direction for cable to move up for at least around possible high around 1.9780 before it will continue down.. but, price seems is already projecting a way down.. watch tf30 closely..
here is my daily:

http://i81.photobucket.com/albums/j2.../dipshfg-1.gif

not a bad short term long atall, it is already starting to move up, so i reckon that was a nice trade ak47! i was planning over that but my eyes caught a lovely long on Uc so according to my money managment had to pass on this one...i'll be looking to sell of gu when and if we do reach that aqua horizontal line though...let's see how it goes.
I believe . . .
  • #61,474
  • Apr 14, 2008 12:03am Apr 14, 2008 12:03am
I see exactly what you are seeing by the way nice trade on the u/c ghous
  • #61,475
  • Apr 14, 2008 12:05am Apr 14, 2008 12:05am
Quoting ak47dan2004
I see exactly what you are seeing by the way nice trade on the u/c ghous
...

you in it??
I believe . . .
  • #61,476
  • Apr 14, 2008 12:09am Apr 14, 2008 12:09am
I want to see how high it goes and try to short close to the top. What about you.
  • #61,477
  • Apr 14, 2008 12:12am Apr 14, 2008 12:12am
Quoting ak47dan2004
I want to see how high it goes and try to short close to the top. What about you.
if you're talking abt Uc i am looking for 1.0171 but a short from there is'nt what i have in my mind, this could so easily run up the pin bar and the nice support trendline could puch Uc further towards the north.

anyways getting back to Gu, anyone short at the moment??
I believe . . .
  • #61,478
  • Apr 14, 2008 12:12am Apr 14, 2008 12:12am
Quoting ghous
here is my daily:
not a bad short term long atall, it is already starting to move up, so i reckon that was a nice trade ak47! i was planning over that but my eyes caught a lovely long on Uc so according to my money managment had to pass on this one...i'll be looking to sell of gu when and if we do reach that aqua horizontal line though...let's see how it goes.
we are on the same boat bro... bdw, my MM said for me to wait until the GU start to move down for short position..
  • #61,479
  • Apr 14, 2008 12:13am Apr 14, 2008 12:13am
Quoting ghous
if you're talking abt Uc i am looking for 1.0171 but a short from there is'nt what i have in my mind, this could so easily run up the pin bar and the nice support trendline could puch Uc further towards the north.

anyways getting back to Gu, anyone short at the moment??
its too early... My charts shown price move to the north for now...
  • #61,480
  • Apr 14, 2008 12:15am Apr 14, 2008 12:15am
Quoting johnbaem
we are on the same boat bro... bdw, my MM said for me to wait until the GU start to move down for short position..
haha! i meant the same! ofcaorse i'll be waiting to ensure the bounce and most probably PA will assist me...for instance i'll stay out if the candle looks to close above my trnedline with no to a very tiny wick on the upper side, otherwise i m enjoying the ride down...
I believe . . .
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