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Cable Update (GBPUSD)

  • #63,621
  • May 1, 2008 4:11am May 1, 2008 4:11am
Quoting nAVIN2007
can u explain why yur long ..?
the difficult part with gu is that the pound AND the $ is currently bullish. So it s waving in the channel.

So now i m very bearish with the pound. Situation in UK is very difficult and they will have their time for sure. I won t forget to sell the pound.

But... Currently we have broken the bearish channel and they spent a lot of energy and money on 24th and 25th of april. So, i assume that the sterling is oversold for traders for the moment. Next target is the last resistance TL at 2.01, after the sterling will be very bullish and i can t imagine that because of the mess they will face.

Well, my english is poor so sorry if im not clear...

In a word, we are in a counter trend correction, we just have to look at EU, gold, EG, UJ, GJ. My point is that we still didn t reach traders target before going again with the trend ( which is my best friend
  • #63,622
  • May 1, 2008 4:12am May 1, 2008 4:12am
i am waiting a new high for sell i think after US news GU may go down
  • #63,623
  • May 1, 2008 4:14am May 1, 2008 4:14am
when this thing breaks it's gonna be huge, make sure your on the right side of the market.
If I Go Broke Trying Then I Will die happy.
  • #63,624
  • May 1, 2008 4:16am May 1, 2008 4:16am
Go Up Moose Si
If I Go Broke Trying Then I Will die happy.
  • #63,625
  • May 1, 2008 4:16am May 1, 2008 4:16am
Quoting hirek
the difficult part with gu is that the pound AND the $ is currently bullish. So it s waving in the channel.

So now i m very bearish with the pound. Situation in UK is very difficult and they will have their time for sure. I won t forget to sell the pound.

But... Currently we have broken the bearish channel and they spent a lot of energy and money on 24th and 25th of april. So, i assume that the sterling is oversold for traders for the moment. Next target is the last resistance TL at 2.01, after the sterling will be very bullish and i can t imagine that because of the mess they will face.

Well, my english is poor so sorry if im not clear...

In a word, we are in a counter trend correction, we just have to look at EU, gold, EG, UJ, GJ. My point is that we still didn t reach traders target before going again with the trend ( which is my best friend
good analysis ..
  • #63,626
  • May 1, 2008 4:19am May 1, 2008 4:19am
can somebody give cable a direction, up or down, just get the ball rolling.
If I Go Broke Trying Then I Will die happy.
  • #63,627
  • May 1, 2008 4:21am May 1, 2008 4:21am
lets do that together everybody push it up
  • #63,628
  • May 1, 2008 4:23am May 1, 2008 4:23am
If this thing goes long it will be against everything I ever learned about the market.
  • #63,629
  • May 1, 2008 4:24am May 1, 2008 4:24am
its going down just be patience
  • #63,630
  • May 1, 2008 4:25am May 1, 2008 4:25am
Short here with my stop perched above that 4 Hr pin on 4/28 12:00. If it goes long by me I will eat my hat.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 43 KB
  • #63,631
  • May 1, 2008 4:25am May 1, 2008 4:25am
Quoting Moe
can somebody give cable a direction, up or down, just get the ball rolling.

i was watching te news yesterday (Uk) and they were talking about the rate cut in america and saying that, this is just delaying a recession which most believe is already happening.. UK have a head start of 3 quarters but is heading in same direction, so i dont htink we gonna see a strong £

there to busy seeing what happen in america to try and prevent it happening in UK...so i cant see £ bullish right now ...also exports, imports are suffering
  • #63,632
  • May 1, 2008 4:26am May 1, 2008 4:26am
Quoting Moe
can somebody give cable a direction, up or down, just get the ball rolling.
i wish,but i m not sure to have enough money
  • #63,633
  • May 1, 2008 4:27am May 1, 2008 4:27am
Europe has holiday we need Us to open to push it down :

i am short
  • #63,634
  • May 1, 2008 4:27am May 1, 2008 4:27am
Quoting hard1head1
If this thing goes long it will be against everything I ever learned about the market.
buddy u took the words right out of my mouth...absolutely agree with u ..
also very happy to see another person short too.....lol
  • #63,635
  • May 1, 2008 4:29am May 1, 2008 4:29am
Quoting hirek
i agree, but u forgot to draw the support line. Looks like a triangle to me.
And we have a wonderfull pinbar on the 5 mn.

Well, i m wondering if we will see a direction today.....
a pinbar on a 5 min chart tells you nothing on cable
Don't chase the market, Let the market come to you
  • #63,636
  • May 1, 2008 4:29am May 1, 2008 4:29am
Quoting nAVIN2007
so i can see £ bullish right now
ok
If I Go Broke Trying Then I Will die happy.
  • #63,637
  • May 1, 2008 4:30am May 1, 2008 4:30am
Quoting nAVIN2007
i was watching te news yesterday (Uk) and they were talking about the rate cut in america and saying that, this is just delaying a recession which most believe is already happening.. UK have a head start of 3 quarters but is heading in same direction, so i dont htink we gonna see a strong £

there to busy seeing what happen in america to try and prevent it happening in UK...so i cant see £ bullish right now ...also exports, imports are suffering
yes you are right. But something is different with england. They are VERY VERY proud of their sterling, they want it to be strong. U could ask soros he has made a fortune gambling against the BOE. Actually, their proud of the sterling is the reason they didnt accept euro.
  • #63,638
  • May 1, 2008 4:32am May 1, 2008 4:32am
Quoting hard1head1
If this thing goes long it will be against everything I ever learned about the market.
just make you work harder.
If I Go Broke Trying Then I Will die happy.
  • #63,639
  • May 1, 2008 4:33am May 1, 2008 4:33am
Quoting Tmac
a pinbar on a 5 min chart tells you nothing on cable
i don t trade on pinbars, i just wanted to put light on bullish price action. The main part is that cable didn t sink with EU.

Well, now the triangle is very well drawn, we should see an exit soon.
  • #63,640
  • May 1, 2008 4:34am May 1, 2008 4:34am
im on the sideline looking in, eur/usd has drop hard,
If I Go Broke Trying Then I Will die happy.
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