Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

#65,741
May 13, 2008 11:01pm May 13, 2008 11:01pm

hard1head1
| Commercial User | Joined Jul 2006 | 2,566 Posts

I will place no longs in front of 9490 as of now. News will probably dissapoint for GBP

#65,742
May 13, 2008 11:12pm May 13, 2008 11:12pm

hard1head1
| Commercial User | Joined Jul 2006 | 2,566 Posts

News will have to be pretty bad to drive price thru the bottom, but it has happened before and it could happen this morning.

Jim

Quoting Carrera

Disliked

Whats going on?
Is the second time that this chart bellow disappear from my post!!!

Ignored

#65,743
May 13, 2008 11:13pm May 13, 2008 11:13pm

priceaction
| Commercial User | Joined Nov 2007 | 1,079 Posts

Quoting Carrera

Disliked

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".

Ignored

Carrera,

As usual, excellent charts. Thanks for sharing them with everyone here.

Cable has been a mess lately. Personally I've kept away as I don't like trading chaos because the odds are stacked against me then. There have been friendlier pairs to get involved with this week.

I see a reasonable set up in the making and I share your view that there could be a bull move waiting in the wings. Whether it materialises and to what extent, remains to be seen.

I need more evidence before putting my money on the line here but in my view, below is what could be shaping up.

From a fundamental perspective re: unemployment figures out of the UK this morning, the unemployment trend has been down (which is good for Cable), but just as in forex, that could change.

Rob

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#65,744
May 13, 2008 11:21pm May 13, 2008 11:21pm

Runway Trade
| Joined Aug 2007 | Status: Air Raider | 895 Posts

Testing 5m smoothy. As Jim says if it breaks it will first retest! If it then breaks I'll long else I might short for a test of the bottom

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#65,745
May 13, 2008 11:27pm May 13, 2008 11:27pm

Carrera
Joined Jun 2007 | Status: Forex is my jungle | 540 Posts

Quoting hard1head1

Disliked

News will have to be pretty bad to drive price thru the bottom, but it has happened before and it could happen this morning.

Jim

Ignored

Both of you guys are completly correct. Jim and Rob. I won't place an order after the news for futher confirmation of direction.

Besides, Cable is doing whatever he wants. He (cable) doesn't care about good news, bad news, thecnical analysis, fundamentals, well you name it. He does the oppositive of all rules. We should change his nick from Cable to Bad boy.

#65,746
May 13, 2008 11:29pm May 13, 2008 11:29pm

nAVIN2007
Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts

the UK market is indecision because of whats happened in america but actually nothing is wrong here that isnt anywher else. I see no reason for why the gpb value to drop so much against a currency which is in trouble..

they always say its in the charts i just hope its a long cause this is what the charts are telling me ...very small bodies on 4hr is the short exhausted? ..i hope so

i still have my 3 longs....taking a risk here

#65,747
May 13, 2008 11:29pm May 13, 2008 11:29pm

priceaction
| Commercial User | Joined Nov 2007 | 1,079 Posts

Quoting Carrera

Disliked

Both of you guys are completly correct. Jim and Rob. I won't place an order after the news for futher confirmation of direction.

Besides, Cable is doing whatever he wants. He (cable) doesn't care about good news, bad news, thecnical analysis, fundamentals, well you name it. He does the oppositive of all rules. We should change his nick from Cable to Bad boy.

Ignored

How about Cable to Unstable

#65,748
May 13, 2008 11:30pm May 13, 2008 11:30pm

nAVIN2007
Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts

Quoting Carrera

Disliked

Both of you guys are completly correct. Jim and Rob. I won't place an order after the news for futher confirmation of direction.

Besides, Cable is doing whatever he wants. He (cable) doesn't care about good news, bad news, thecnical analysis, fundamentals, well you name it. He does the oppositive of all rules. We should change his nick from Cable to Bad boy.

Ignored

keep up the good work bro

#65,749
May 13, 2008 11:36pm May 13, 2008 11:36pm

Carrera
Joined Jun 2007 | Status: Forex is my jungle | 540 Posts

Quoting priceaction

Disliked

How about Cable to Unstable

Ignored

I second that.

#65,750
May 13, 2008 11:39pm May 13, 2008 11:39pm

scyang
| Joined Apr 2008 | Status: You never know | 1,306 Posts

I agree that cable has been behaving very strange lately. One just can't tell which direction it would be going. Even when both technical and fundamentals are lined up for it to one direction, it still goes the other direction. It defies the logic. So I would be very weary about trading it until some definite direction has been achieved.

Expected the unexpected

#65,751
May 13, 2008 11:46pm May 13, 2008 11:46pm

AlexFX
| Joined Oct 2006 | Status: Trader | 296 Posts

Cable guy...albeit without a signal

Quoting nAVIN2007

Disliked

keep up the good work bro

Ignored

#65,752
May 13, 2008 11:50pm May 13, 2008 11:50pm

hard1head1
| Commercial User | Joined Jul 2006 | 2,566 Posts

But the news could ruin what could have been a nice long.. But we may get a better one when U.S. opens. So remember.....

P-A-T-I-E-N-C-E!!!

Quoting priceaction

Disliked

Carrera,

As usual, excellent charts. Thanks for sharing them with everyone here.

Cable has been a mess lately. Personally I've kept away as I don't like trading chaos because the odds are stacked against me then. There have been friendlier pairs to get involved with this week.

I see a reasonable set up in the making and I share your view that there could be a bull move waiting in the wings. Whether it materialises and to what extent, remains to be seen.

I need more evidence before putting my money on the line here but in my view, below is what could be shaping up.

From a fundamental perspective re: unemployment figures out of the UK this morning, the unemployment trend has been down (which is good for Cable), but just as in forex, that could change.

Rob

Ignored

#65,753
May 13, 2008 11:54pm May 13, 2008 11:54pm

hard1head1
| Commercial User | Joined Jul 2006 | 2,566 Posts

Right now price is bouncing between the 89 Smoothy and the wedge bottom. Here is a chart that shows it.

P.S. You guys are really missing out on some great pips by ignoring the EUR/JPY, it gives the smoothest trading moves on the market and I just got 50.

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#65,754
May 14, 2008 12:00am May 14, 2008 12:00am

Carrera
Joined Jun 2007 | Status: Forex is my jungle | 540 Posts

Quoting hard1head1

Disliked

Right now price is bouncing between the 89 Smoothy and the wedge bottom. Here is a chart that shows it.

P.S. You guys are really missing out on some great pips by ignoring the EUR/JPY, it gives the smoothest trading moves on the market and I just got 50.

Ignored

yea, actually, they are moving good right now! All