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Cable Update (GBPUSD)

  • #64,261
  • May 5, 2008 9:34pm May 5, 2008 9:34pm
Well, even closing too early my position, the pattern still doing well.
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  • #64,262
  • May 5, 2008 10:26pm May 5, 2008 10:26pm
Quoting Carrera
Well, even closing too early my position, the pattern still doing well.
as long as, can u explain that on curent chart actualy on 38.2 fibo was reversal?
  • #64,263
  • May 5, 2008 11:29pm May 5, 2008 11:29pm
Quoting satutrade
as long as, can u explain that on curent chart actualy on 38.2 fibo was reversal?
Just look the chart bellow.

Actually, I just look that cable is founding resistance @ 38.2%. Probably will begins to go down of the 38.
Let's see if we get a good sell confirmation. hmmm. If 38 is broke, 61% next possibly stop.
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  • #64,264
  • May 5, 2008 11:30pm May 5, 2008 11:30pm
anyone went short GBPUSD?
  • #64,265
  • May 5, 2008 11:36pm May 5, 2008 11:36pm
Hmmm, the upside doesn't looks good.
  • #64,266
  • May 5, 2008 11:40pm May 5, 2008 11:40pm
Quoting Carrera
Hmmm, the upside doesn't looks good.
so that mean we can say that 38.2fibo is our stop today my man? that was confirm?
  • #64,267
  • May 6, 2008 12:01am May 6, 2008 12:01am
Quoting Carrera
Well, even closing too early my position, the pattern still doing well.
Good work on these charts you actually it the top perfectly! Looks like we will see the bottom of the 4h. Will wait for it to break that 1.9720 support zone than short. Definatly moving in that smaller channel that you showed in your first chart. Well done
  • #64,268
  • May 6, 2008 12:15am May 6, 2008 12:15am
Morning Guys,

Nothing but bearish signals now, including an Evening star on the 1 Hr T/F.

Jim
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  • #64,269
  • May 6, 2008 12:24am May 6, 2008 12:24am
Quoting Ultraman
anyone went short GBPUSD?
I am. Short at 1.9725. 1st target 1.9675. Wish me luck.
Attached Image
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #64,270
  • May 6, 2008 12:31am May 6, 2008 12:31am
Quoting hard1head1
Morning Guys,

Nothing but bearish signals now, including an Evening star on the 1 Hr T/F.

Jim
What other bearish signals do u see Jim?

Yesterday's daily candle was a near long-legged doji, indicating indecision (the day before that was a hanging man, indicating bearish)
Darkness lies one inch ahead..
  • #64,271
  • May 6, 2008 12:43am May 6, 2008 12:43am
I am not so sure about the short. We are in the middle of the 4H channel. 15M is oversold if it goes over 1.9743 then we will hit the top of the 4H. That support of 1.9720 is very strong.
  • #64,272
  • May 6, 2008 1:03am May 6, 2008 1:03am
Quoting Runway Trade
I am not so sure about the short. We are in the middle of the 4H channel. 15M is oversold if it goes over 1.9743 then we will hit the top of the 4H. That support of 1.9720 is very strong.
OK I was talking bull. Short it is, that smaller channel looks good. I am short at 1.9726 t/p 1.9660 first stop S1 s/l at 1.9756
  • #64,273
  • May 6, 2008 1:16am May 6, 2008 1:16am
GBP/USD is bouncing off of the daily pivot at 1.9718/20 area...

1.9740 provided hard resistance earlier...
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  • #64,274
  • May 6, 2008 1:37am May 6, 2008 1:37am
hello freaks

with so much bearish talk, for sure this has to shoot up, so i'm long at 9710, tp 9850
  • #64,275
  • May 6, 2008 1:46am May 6, 2008 1:46am
Quoting tomaz55
hello freaks

with so much bearish talk, for sure this has to shoot up, so i'm long at 9710, tp 9850
and your SL?
  • #64,276
  • May 6, 2008 1:50am May 6, 2008 1:50am
1.9653
1.9588
1.9523 <- Bottom of channel-ish
  • #64,277
  • May 6, 2008 1:58am May 6, 2008 1:58am
Quoting Ultraman
anyone went short GBPUSD?
bank-in +50pips from short
  • #64,278
  • May 6, 2008 2:26am May 6, 2008 2:26am
I don't have time to post charts as I have other things going on and I'm a bit late posting this anyway. But when price broke below last week's close, I saw that as confirmation of a bear move.

I like ...

  1. The channels drawn by a few of the guys below
  2. 60ema on 1hr and how neatly it has capped price recently
  3. Jim's observation of the Evening Star
  4. Downward trend line drawn between last two 1hr swing highs
  5. Price remaining reassuringly under the 5ma
  6. How price retraced at 78.6 level (plotted using yesterday's high and low) - (It was also around the 38.2 fib from last week's high)
  7. Support signs around 1.9655
  8. Weekly bearish candles
  9. Downward trend lines on 4hr and daily charts

Good bear movement on the Euro this morning as it retaced after hitting 61.8 level.

Rob

  • #64,279
  • Edited 2:51am May 6, 2008 2:37am | Edited 2:51am
Quoting Ultraman
bank-in +50pips from short
Congratz ! I am 38 pips enough. More than my 2% daily profit target .
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #64,280
  • May 6, 2008 2:50am May 6, 2008 2:50am
No trades yet for me. Don't have a clear idea for the moment, I rather stay out.
The quality of your life is brought about by the quality of your thinking.
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