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Cable Update (GBPUSD)

  • #63,841
  • May 2, 2008 1:52am May 2, 2008 1:52am
I entered 1.9736. Just closed at 1.9781 for +45
Thnks guys. I think I will wait until it goes down again for new entry
  • #63,842
  • May 2, 2008 2:01am May 2, 2008 2:01am
As usual great analysis by Jim earlier. I too tend to believe that we will see the continuation of yesterday's downward move. Although I missed it due to taking May Day off.

Price is being cornered by the 60 ema on the 30 min chart and an upward trend line. It's highlighted by the blue pennant in the chart below.

Are we about to see the lowering of a flag? But I speak loosely, so ...'Pennant', to be technically correct


I'm short at 1.9778
But I could be wrong!

Rob
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  • #63,843
  • May 2, 2008 2:13am May 2, 2008 2:13am
Quoting priceaction
As usual great analysis by Jim earlier. I too tend to believe that we will see the continuation of yesterday's downward move. Although I missed it due to taking May Day off.

Price is being cornered by the 60 ema on the 30 min chart and an upward trend line. It's highlighted by the blue pennant in the chart below.

Are we about to see the lowering of a flag? But I speak loosely, so ...'Pennant', to be technically correct


I'm short at 1.9778
But I could be wrong!

Rob

GBPUSD up LOL
  • #63,844
  • May 2, 2008 2:21am May 2, 2008 2:21am
i closed my position last night at a loss.....non farm scares the hell out of me and best keep away for me at least...im improving anyway finished the week at profit thou small but profit
  • #63,845
  • May 2, 2008 2:26am May 2, 2008 2:26am
(UK) APR HBOS HOUSE PRICES:

M/M -1.3% V -0.6%E
Y/Y -0.9% V -0.8%E
  • #63,846
  • May 2, 2008 2:37am May 2, 2008 2:37am
Bad news seem to make GBPUSD go up :S
  • #63,847
  • May 2, 2008 2:37am May 2, 2008 2:37am
VERY NICE 15 MIN PIN ,BATTLING WITH 50% PIVOT FROM YESTURDAYS DOWN MOVE ,i THINK IT WILL BREAK.

IT JUST BROKE SORRY ABOUT THE CAPS
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #63,848
  • May 2, 2008 2:42am May 2, 2008 2:42am
I swear this is just gambling the past couple days. The bad news comes out for the pound and it goes up-- how can this be???? Was there something extra that happened that I'm not aware of??
  • #63,849
  • May 2, 2008 2:43am May 2, 2008 2:43am
Just following the trend..
  • #63,850
  • May 2, 2008 2:44am May 2, 2008 2:44am
If the next 4 hr bar can get over red line and pivot it might go for the top again.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #63,851
  • May 2, 2008 2:47am May 2, 2008 2:47am
There have been some crazy moves recently that’s why I am not following the news anymore like I used to.




Quoting DeePipster
I swear this is just gambling the past couple days. The bad news comes out for the pound and it goes up-- how can this be???? Was there something extra that happened that I'm not aware of??
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #63,852
  • May 2, 2008 2:49am May 2, 2008 2:49am
the house price index was bad but not as bad as expected given the last few days. the expected decline is something worked out much earlier and in recent days i think traders were fearing that the news was gonna be even worse.
  • #63,853
  • May 2, 2008 2:50am May 2, 2008 2:50am
Quoting Bones
There have been some crazy moves recently that’s why I am not following the news anymore like I used to.
this is not crazy, everything that meant to happen, hapens...just a question of knowing ..i have been study the movements of the pound and the charts are the finger prints to where u going news im thinking is priced in for forecasted in advance and big players.....drive te prices to the same places..

i just need to trust myself....thats my problem i realise now
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  • #63,854
  • May 2, 2008 2:50am May 2, 2008 2:50am
Quoting Bones
There have been some crazy moves recently that’s why I am not following the news anymore like I used to.
If u do technical trades the news should not affect your decisions regardless of its impact (in theory at least)
  • #63,855
  • May 2, 2008 2:52am May 2, 2008 2:52am
Quoting nAVIN2007
this is not crazy, everything that meant to happens...just a question of knowing ..
How far up will cable go?
Expected the unexpected
  • #63,856
  • May 2, 2008 2:56am May 2, 2008 2:56am
Quoting scyang
How far up will cable go?
im not god...no idea but it was clear price would reject low level i knew this for sure.....i just exit cause of non farm and it seemed the market was kinda dead so i thought, need to go work .....i dont need the stress of non farm adding to it....

its certainly possible that till will result in bullish breakout of 2.00 level
i doubt price will go very low as the rejection is confirmed...
  • #63,857
  • May 2, 2008 2:58am May 2, 2008 2:58am
Quoting Gubster
the house price index was bad but not as bad as expected given the last few days. the expected decline is something worked out much earlier and in recent days i think traders were fearing that the news was gonna be even worse.
Fundes can always fnd a reason f prce goes aganst fundies. nwes worse than expected and prce goes up 100+ please! some one said t previously fundies mean sh_it. all tech.
  • #63,858
  • May 2, 2008 3:06am May 2, 2008 3:06am
Quoting Runway Trade
Fundes can always fnd a reason f prce goes aganst fundies. nwes worse than expected and prce goes up 100+ please! some one said t previously fundies mean sh_it. all tech.
this is the problem with trading, its all discretionary, every move can be justified when right and theres alway different possibility

like price reject lower levels but non farm number can be so bad that price goes there and break the support.....absolutely never know what will happen, at the very best u can just have higher odds of being right ...this is why any1 can blow an account, every trade have to have mm behind it ...
  • #63,859
  • May 2, 2008 3:27am May 2, 2008 3:27am
i think US news will decide the breakout
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  • #63,860
  • May 2, 2008 3:28am May 2, 2008 3:28am
construction pmi on its way. probably sho a contraction again.
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