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Cable Update (GBPUSD)

  • #65,201
  • May 12, 2008 2:39am May 12, 2008 2:39am
Quoting Moe
he's on his way.
one more week i shall be hitting 100 pips left right and center..
  • #65,202
  • May 12, 2008 2:41am May 12, 2008 2:41am
If it does, than I will eat my hat again. I say no way. I am short with a nice 5,15 min signal.

LOL


Quoting akirax
could break lower channel at 1.96 and stop or go as high as 4hr UTL at 1.9750/1.98
  • #65,203
  • May 12, 2008 2:43am May 12, 2008 2:43am
Quoting AmeriTrini
Damn, inflation is sky high in the UK, wonder what that could mean?...........
low growth, stagflation

http://www.timesonline.co.uk/tol/com...cle3912642.ece
good article in times
Trading is 80% Emotional, 20% Technical
  • #65,204
  • May 12, 2008 2:43am May 12, 2008 2:43am
Thats a Daily trendline it just hit and the only reason it went that far is because of a good GBP release at 4:30. I am betting short.
Attached Image (click to enlarge)
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  • #65,205
  • May 12, 2008 2:47am May 12, 2008 2:47am
If you look hard, you can see a good moneymaker forming for a short, WITH the trend. Instead of trying to guess it long, please try to look at the charts. If anyone sees dif. please let me know why and the reason. If you look at the lower charts you can see that it may be running out of gas and profit taking could start.

Jim
  • #65,206
  • May 12, 2008 2:49am May 12, 2008 2:49am
Once more to push to 9600 which will give us a double bottom on the small charts or a nice bearish move down, looks like the latter.
  • #65,207
  • May 12, 2008 2:58am May 12, 2008 2:58am
Quoting hard1head1
If you look hard, you can see a good moneymaker forming for a short, WITH the trend. Instead of trying to guess it long, please try to look at the charts. If anyone sees dif. please let me know why and the reason. If you look at the lower charts you can see that it may be running out of gas and profit taking could start.

Jim
Holding a long term short myself from a while back...
  • #65,208
  • May 12, 2008 2:58am May 12, 2008 2:58am
First area of res. 9563. Lets see if we can get thru.
  • #65,209
  • May 12, 2008 3:00am May 12, 2008 3:00am
Very nice 1 hr pin forming off the back of the Daily UTL. This area here will tell the tail.
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  • #65,210
  • May 12, 2008 3:01am May 12, 2008 3:01am
i think its to early to tell ....we just testing the weekly pivot...
  • #65,211
  • May 12, 2008 3:01am May 12, 2008 3:01am
Good week to be long technically, my personal opinion. I don't know how is going to be fundamentaly, I leave that to the experts in that area.
Right now while I write, is getting exausted, but it is the usually retrace.

Ameri, if inflation is high, does that mean interes could be raise it?
If yes, that should be in the mind of fundamental people like banks and goverment, right?

Well, trying to apply 10% of fundamentals to my trading.
Attached Image (click to enlarge)
Click to Enlarge Name: GBP-USD Posible targe area May 12 - 2008.png Size: 44 KB
  • #65,212
  • May 12, 2008 3:07am May 12, 2008 3:07am
Quoting AmeriTrini
TRADE NAKED!!!!

LOL, qoute of the day.
  • #65,213
  • May 12, 2008 3:14am May 12, 2008 3:14am
Quoting Carrera
Good week to be long technically, my personal opinion. I don't know how is going to be fundamentaly, I leave that to the experts in that area.
Right now while I write, is getting exausted, but it is the usually retrace.

Ameri, if inflation is high, does that mean interes could be raise it?
If yes, that should be in the mind of fundamental people like banks and goverment, right?

Well, trying to apply 10% of fundamentals to my trading.
hello carrera
how r u buddy

about ur subject if inflation is high usually central banks raise rates but in UK's case they wont raise because they are going through critical economic conditions so instead THEY WONT CUT RATES.

but raising rates at this point would be stupid.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #65,214
  • May 12, 2008 3:15am May 12, 2008 3:15am
Quoting hard1head1
Very nice 1 hr pin forming off the back of the Daily UTL. This area here will tell the tail.

my chart has a bullish hammer formation and yur appears bearish
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  • #65,215
  • May 12, 2008 3:21am May 12, 2008 3:21am
Nav, that looks more like a shooting star than anything.

Quoting nAVIN2007
my chart has a bullish hammer formation and yur appears bearish
Attached Image
  • #65,216
  • May 12, 2008 3:25am May 12, 2008 3:25am
Pair may be forming a lower High on the lower lights.
  • #65,217
  • May 12, 2008 3:26am May 12, 2008 3:26am
Quoting hard1head1
Nav, that looks more like a shooting star than anything.
Preceding bar is not part of the shooting star formation, no?
  • #65,218
  • May 12, 2008 3:26am May 12, 2008 3:26am
actualy i went long but i can see yur reasoning for short ..we appear to have hit resistance...i taken a short as i think its worth the risk SL1.9620

excellent call m8 .welldone ..
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  • #65,219
  • May 12, 2008 3:27am May 12, 2008 3:27am
This is some good reading, Nav. Unless you have read it already.

www.Babypips.com

Quoting nAVIN2007
my chart has a bullish hammer formation and yur appears bearish
  • #65,220
  • May 12, 2008 3:28am May 12, 2008 3:28am
Quoting hard1head1
Pair may be forming a lower High on the lower lights.

well GU does not look strong at this level, does it...looks interesting...
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