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Cable Update (GBPUSD)

  • #65,461
  • May 12, 2008 10:32pm May 12, 2008 10:32pm
It is below the 89

Quoting Runway Trade
What does this mean on the 1H?
  • #65,462
  • May 12, 2008 10:35pm May 12, 2008 10:35pm
Quoting hard1head1
There is a small inverted hammer on the 30. I think we are going down. but still need something more like a clear 5,15 min signal away from the damn Daily pivot point it has been playing with all evening now. Still no place to go.
Thought inverted hammer means downtrend is finished and we are going up. I don't know enough. Please set me straight.
Expected the unexpected
  • #65,463
  • May 12, 2008 10:37pm May 12, 2008 10:37pm
hard resistance at 9550 and hard support at 9530....
something gotta give...
  • #65,464
  • May 12, 2008 10:38pm May 12, 2008 10:38pm
This would be a shooting star type of formation.


Quoting scyang
Thought inverted hammer means downtrend is



finished and we are going up. I don't know enough. Please set me straight.
  • #65,465
  • May 12, 2008 10:44pm May 12, 2008 10:44pm
It is stuck between the DPP and the 89
  • #65,466
  • May 12, 2008 10:50pm May 12, 2008 10:50pm
Quoting hard1head1
It is below the 89
It has to start some place! News will be positive for cable today, I think
  • #65,467
  • May 12, 2008 11:00pm May 12, 2008 11:00pm
As relatively newbie I can't tell more but I seems go up to 1.9632 support this morning after it may touch down 1.500 or 1.9494 support .Then it goes down i the evening session to 1.9462 support or down . No consideration what news today for gpb but if of US very bad then ithout going down it should go much higher from 1.9632 in the evening .

fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #65,468
  • May 12, 2008 11:12pm May 12, 2008 11:12pm
Considering the news and looking broadly at most of the dollar pairs setup I think not as much cable having strength but the dollar going to get "Klaped" (smacked real hard) today!
  • #65,469
  • May 12, 2008 11:15pm May 12, 2008 11:15pm
I really hope that no one is placing money on the guesses of this forum...That's a sure way to lose money. Analyze the charts for yourself, higher time frames rule!
  • #65,470
  • May 12, 2008 11:16pm May 12, 2008 11:16pm
Quoting Runway Trade
Considering the news and looking broadly at most of the dollar pairs setup I think not as much cable having strength but the dollar going to get "Klaped" (smacked real hard) today!
As I say that it drops through the floor
  • #65,471
  • May 12, 2008 11:22pm May 12, 2008 11:22pm
Quoting Runway Trade
As I say that it drops through the floor
Yeah, u need to trade "contrarian" - whatever logic and reason tells u, do the opposite ... just kidding
Darkness lies one inch ahead..
  • #65,472
  • May 12, 2008 11:24pm May 12, 2008 11:24pm
Quoting Runway Trade
As I say that it drops through the floor

yeah its a funny pair alright ..i was watching a program yesterday on house prices and credit crunch in UK..it looks as if whats happening in america will happen in UK...people just arent spending money and recesssion could well be happening if this continues also house prices as we see yesterday only getting worse..and this could well be the reason why there no faith in gpb

i say down from the top...only thing is where the hell is the top from here ..
  • #65,473
  • May 12, 2008 11:30pm May 12, 2008 11:30pm
Bounced for the 4th time from the H1 DT, the only thing it's done consistently all day.

Now.. UP.. DOWN.. who nose?
Darkness lies one inch ahead..
  • #65,474
  • May 12, 2008 11:34pm May 12, 2008 11:34pm
Power went out, lost my charts and everything when platform was reloaded.
As I said, it would probably go down, but this time wasn't sure. Those red spinners on the 1 Hr were a clue though. Always comes back to test DPP
  • #65,475
  • May 12, 2008 11:34pm May 12, 2008 11:34pm
Quoting TraderJR
Yeah, u need to trade "contrarian" - whatever logic and reason tells u, do the opposite ... just kidding
A lot of truth in that. Its easier to loose money than make it. So just do the opposite to what I think. UMMM I think I will start a thread like that " the opposite thread"
  • #65,476
  • May 12, 2008 11:46pm May 12, 2008 11:46pm
I am thinking approx. 9475 for my first TP. But my charts are blank, anyone else have any data with confirmation.

Jim
  • #65,477
  • May 12, 2008 11:47pm May 12, 2008 11:47pm
damn i missed the move ...
  • #65,478
  • Edited 11:50pm May 12, 2008 11:48pm | Edited 11:50pm
From my previous post:
the break down of 1.9515 means its not an "abc", but a 5 waves down from 1.9632 - therefore sell rallies for a new low below 1.9440 !!!
May retrace to 1.9560/1.9580.
Previous target low not reached is 1.9400.
  • #65,479
  • May 12, 2008 11:48pm May 12, 2008 11:48pm
Keep in mind, CPI may make this short, short lived at 4:30
  • #65,480
  • May 12, 2008 11:49pm May 12, 2008 11:49pm
Quoting hard1head1
I am thinking approx. 9475 for my first TP. But my charts are blank, anyone else have any data with confirmation.

Jim
i agree..might get 9478 then up .....we in a channel
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