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Cable Update (GBPUSD)

  • #65,741
  • May 14, 2008 1:01am May 14, 2008 1:01am
I will place no longs in front of 9490 as of now. News will probably dissapoint for GBP
  • #65,742
  • May 14, 2008 1:12am May 14, 2008 1:12am
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
Whats going on?
Is the second time that this chart bellow disappear from my post!!!
  • #65,743
  • May 14, 2008 1:13am May 14, 2008 1:13am
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".
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
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.jpg Size: 341 KB
  • #65,744
  • May 14, 2008 1:21am May 14, 2008 1:21am
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
Attached Image (click to enlarge)
Click to Enlarge Name: gbp1.gif Size: 20 KB
  • #65,745
  • May 14, 2008 1:27am May 14, 2008 1:27am
Quoting hard1head1
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
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 14, 2008 1:29am May 14, 2008 1:29am
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 14, 2008 1:29am May 14, 2008 1:29am
Quoting Carrera
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.
How about Cable to Unstable
  • #65,748
  • May 14, 2008 1:30am May 14, 2008 1:30am
Quoting Carrera
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.
keep up the good work bro
  • #65,749
  • May 14, 2008 1:36am May 14, 2008 1:36am
Quoting priceaction
How about Cable to Unstable
I second that.
  • #65,750
  • May 14, 2008 1:39am May 14, 2008 1:39am
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 14, 2008 1:46am May 14, 2008 1:46am
Cable guy...albeit without a signal




Quoting nAVIN2007
keep up the good work bro
  • #65,752
  • May 14, 2008 1:50am May 14, 2008 1:50am
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
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
  • #65,753
  • May 14, 2008 1:54am May 14, 2008 1:54am
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.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 51 KB
  • #65,754
  • May 14, 2008 2:00am May 14, 2008 2:00am
Quoting hard1head1
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.
yea, actually, they are moving good right now! All
  • #65,755
  • May 14, 2008 2:01am May 14, 2008 2:01am
Quoting Carrera
Whats going on?
Is the second time that this chart bellow disappear from my post!!!
The moderators are taking positions based on your analysis. They don't want anybody else to benefit.
  • #65,756
  • May 14, 2008 2:06am May 14, 2008 2:06am
Nice call
  • #65,757
  • May 14, 2008 2:06am May 14, 2008 2:06am
Quoting good
The moderators are taking positions based on your analysis. They don't want anybody else to benefit.
lol, brokers are paying good money so we won't hurt the big boys.
  • #65,758
  • May 14, 2008 2:10am May 14, 2008 2:10am
Cable is dropping again. Thought it was a nice setup for long.
Expected the unexpected
  • #65,759
  • May 14, 2008 2:10am May 14, 2008 2:10am
A sell out in action???
Some currencies are going down big time.
  • #65,760
  • May 14, 2008 2:12am May 14, 2008 2:12am
this thing going to wipe out my account ....i dont get it at all ..
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