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Cable Update (GBPUSD)

  • #65,721
  • May 13, 2008 1:35pm May 13, 2008 1:35pm
Quoting DJ4x
Closed my long for 21 pips pos at 1.9488.... This is ridiculous.. Not sure what to expect anymore
im keeping mine ....i agree thou .....its so stupid, the currency has lost the plot ..

i just dont get it the daily chart just doesnt say to me that movement today would be down ..confused...im gonna set the trades and shut my platform and not look best way i think ..
  • #65,722
  • May 13, 2008 1:40pm May 13, 2008 1:40pm
Quoting forexmoments
Pffff, Benny can say all he likes these days, beyond the point of repair:

http://www.youtube.com/watch?v=ipJTqCbETog
hey bro
im subscribed to ur website and great weekly analysis by the way
simple and str8 to the point

but i want to ask u
when u say beyond repair do u actually mean US economy will not get out of this one???
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #65,723
  • May 13, 2008 1:44pm May 13, 2008 1:44pm
hey guys if ur looking for a good laugh watch forex moment's link above
its hilarious
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #65,724
  • May 13, 2008 1:59pm May 13, 2008 1:59pm
Quoting nAVIN2007
im keeping mine ....i agree thou .....its so stupid, the currency has lost the plot ..

i just dont get it the daily chart just doesnt say to me that movement today would be down ..confused...im gonna set the trades and shut my platform and not look best way i think ..
So do just that...... Take a break. It should retrace, but you never know.....
Have a great evening.
See u all 2morrow
  • #65,725
  • May 13, 2008 2:09pm May 13, 2008 2:09pm
Quoting nAVIN2007
im keeping mine ....i agree thou .....its so stupid, the currency has lost the plot ..

i just dont get it the daily chart just doesnt say to me that movement today would be down ..confused...im gonna set the trades and shut my platform and not look best way i think ..
Well in bro, i'm still holding my long, just hoping i don't end up regretting it!
"The trend is your friend, until the end."
  • #65,726
  • May 13, 2008 2:19pm May 13, 2008 2:19pm
Quoting salah k.
hey guys if ur looking for a good laugh watch forex moment's link above
its hilarious

When life gives you lemons, make lemonade
  • #65,727
  • May 13, 2008 3:35pm May 13, 2008 3:35pm
Quoting nAVIN2007
im keeping mine ....i agree thou .....its so stupid, the currency has lost the plot ..

i just dont get it the daily chart just doesnt say to me that movement today would be down ..confused...im gonna set the trades and shut my platform and not look best way i think ..
Yesterday was a down, up then selling back into the close hence off it's highs the selling continued into today, logical really.

Just look at the chart the general direction is down, forget the candles, so move to a slightly downward bias based on this, nothing more really but as far as picking intraday moves thats it, slightly prefer shorts, thats why i laugh at the weekly and monthly so much for intraday.

On the plus side, loads of historic Jan / Feb resistance formed around 1.9340 - 1.9400 so should get some good dip buying which will make for a nice trading environment for us
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #65,728
  • May 13, 2008 5:08pm May 13, 2008 5:08pm
That youtube clip was funny....I stayed anway and did my 9-5. I see y'all in 5 hours.
  • #65,729
  • May 13, 2008 7:45pm May 13, 2008 7:45pm
Equilateral triangle with maybe a downward converging triangle inside (blue arrows => near triple bottom) - screenshot 1. More downside?

2nd screenshot shows what happened yesterday - a series of giant hops lower, whipsaws/oscillation with trending (and news spike thrown in for good measure). Retracements are one thing, this was something new (to me).
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Image1.gif Size: 59 KB
Click to Enlarge Name: 080514 GBP-USD H1 Series of giant hop-retracements trending lower.gif Size: 65 KB
Darkness lies one inch ahead..
  • #65,730
  • Edited 10:58pm May 13, 2008 10:26pm | Edited 10:58pm
UP or DOWN ???? I wish UP before huge fall. Count me wrong.
Attached Image
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #65,731
  • May 13, 2008 11:00pm May 13, 2008 11:00pm
All you Guys and Gals who like to go long, your chance may be coming soon. We have a bullish declining wedge defined on the 1 & 4 Hr TF.

Jim
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 42 KB
  • #65,732
  • May 13, 2008 11:05pm May 13, 2008 11:05pm
Quoting hard1head1
All you Guys and Gals who like to go long, your chance may be coming soon. We have a bullish declining wedge defined on the 1 & 4 Hr TF.

Jim
I am sure that's good news for many in this thread. Some are probably stuck in it for a while. I will stay on the sidelines and wish everybody the best.
Expected the unexpected
  • #65,733
  • Edited May 14, 2008 12:16am May 13, 2008 11:55pm | Edited May 14, 2008 12:16am
This is my technical 90% point of view with the charts bellow.
It is like the modus operandi of cable. Short history and probably future.

My 10% fundamentals tell me...
If BOE Inflation Report sounds like nothing will change about the interes rate, Cable will go UP. IF somthing sounds like inflation is too high and probably a cut rate is in the close future, Cable will break the tunnel @ 4H TF to the down way.

Use proper MM always, there is no need to marrie negative positions.

Have a good trading guys, and good pips to all you.

Note: The second chart at the first paragraph the last sentence is incomplete. it should said " I guess that is why Wedge fails to reach the high as the first red arrow shows".
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Falling Wedge May 13 -2008 GBP-USD.png Size: 90 KB
Click to Enlarge Name: Falling Wedge May 13 -2008 GBP-USD 2.png Size: 103 KB
Click to Enlarge Name: Falling Wedge May 13 -2008 GBP-USD 3.png Size: 87 KB
Click to Enlarge Name: Falling Wedge May 13 -2008 GBP-USD 4.png Size: 76 KB
  • #65,734
  • May 14, 2008 12:11am May 14, 2008 12:11am
Thanks you Carrera for analyzis. I change my plan.

I add the 2nd long at 1.9440, TP 1.9555, SL 1.9410.
My 1st long at 1.9545, TP 1.9555, SL 1.9410.

"No how much the money I can get but how long I can survive in the FOREX with my few penies."

And now I' m out for a while for offline business. Happy trading all. !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #65,735
  • May 14, 2008 12:30am May 14, 2008 12:30am
Quoting Carrera
This is my technical 90% point of view with the charts bellow.
It is like the modus operandi of cable. Short history and probably future.

My 10% fundamentals tell me...
If BOE Inflation Report sounds like nothing will change about the interes rate, Cable will go UP. IF somthing sounds like inflation is too high and probably a cut rate is in the close future, Cable will break the tunnel @ 4H TF to the down way.

Use proper MM always, there is no need to marrie negative positions.

Have a good trading guys, and good pips to all you.

Note: The second chart at the first paragraph the last sentence is incomplete. it should said " I guess that is why Wedge fails to reach the high as the first red arrow shows".

It is strange, these 2 pictures suddenly desappear from my previus post.
Well here are again anyways.
Attached Image
  • #65,736
  • May 14, 2008 12:34am May 14, 2008 12:34am
Quoting Carrera
It is strange, these 2 pictures suddenly desappear from my previus post.
Well here are again anyways.
Thanks for your analysis. This is the best I have seen in a long time!
  • #65,737
  • May 14, 2008 12:39am May 14, 2008 12:39am
Quoting manize
Thanks you Carrera for analyzis. I change my plan.

I add the 2nd long at 1.9440, TP 1.9555, SL 1.9410.
My 1st long at 1.9545, TP 1.9555, SL 1.9410.
With 135 pip SL, what lot size and MM do you trade?
Darkness lies one inch ahead..
  • #65,738
  • May 14, 2008 12:44am May 14, 2008 12:44am
Quoting Runway Trade
Thanks for your analysis. This is the best I have seen in a long time!
+1 !!!
  • #65,739
  • May 14, 2008 12:46am May 14, 2008 12:46am
Quoting Runway Trade
Thanks for your analysis. This is the best I have seen in a long time!
Thanks, but I have to admit, Cable is acting crazy lately. Good news, bearish time, bad news, bullish time. I'm not fundamental trader but UK must be in very bad shape with the econimics! The expenciest currency and actually the weakest one!

So, please, everyone must have a good MM plan in order to survive in this market.
  • #65,740
  • May 14, 2008 12:52am May 14, 2008 12:52am
Whats going on?
Is the second time that this chart bellow disappear from my post!!!
Attached Image (click to enlarge)
Click to Enlarge Name: Falling Wedge May 13 -2008 GBP-USD 5.png Size: 88 KB
281 traders viewing now, 2 are registered:
Joshuaenya
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