Cable Update (GBPUSD) | Page 3332 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #66,621
  • May 19, 2008 3:44pm May 19, 2008 3:44pm
You've post trend reversal divergences, and they are normal divergences.

Hidden divergences should confirm the trend, they are trend countinuation divergences.

I don't trade them all the time, but when I see good Fibo level, or pivot level, trend line, candle formation and there is also some divergence positive for me so it's one more confirmation signal that there is strong probability that price will go with my order.
  • #66,622
  • May 19, 2008 3:49pm May 19, 2008 3:49pm
Quoting magictrader
You've post trend reversal divergences, and they are normal divergences.

Hidden divergences should confirm the trend, they are trend countinuation divergences.

I don't trade them all the time, but when I see good Fibo level, or pivot level, trend line, candle formation and there is also some divergence positive for me so it's one more confirmation signal that there is strong probability that price will go with my order.
So are two diference divergences, right?

Thanks magic, good trading.
  • #66,623
  • May 19, 2008 4:01pm May 19, 2008 4:01pm
Yes, hope it helps

Good trading to you too, and keep posting your charts with price predictions, they are great.
Attached Image (click to enlarge)
Click to Enlarge Name: divergences.GIF Size: 24 KB
  • #66,624
  • May 19, 2008 4:18pm May 19, 2008 4:18pm
Quoting magictrader
Yes, hope it helps

Good trading to you too, and keep posting your charts with price predictions, they are great.
u mean on that example is to say that continuation divergence there can make price more go down? or maybe other reason?
  • #66,625
  • May 19, 2008 4:40pm May 19, 2008 4:40pm
Does anyone else see GU hitting 1.9360 or lower tomorrow or the next day like I do? In fact, I do not even see how 1.9360 will not give way to lower presures. However, this point is pretty strong support, so I expect a bounce off this level before it goes any lower.

I guess the charts will let me know after it has happened, but that is how I think I will trade it. I will also set a Sell Limit at 1.9630 in case it heads back up for the day, but I doubt it will get that high. Looks like 1.9360 tomorrow at least.

Attached Image
"Keep your eyes on the helpers" - Mr. Rogers
  • #66,626
  • May 19, 2008 4:40pm May 19, 2008 4:40pm
Quoting satutrade
u mean on that example is to say that continuation divergence there can make price more go down? or maybe other reason?
on H1 since 14.05.2008 we've got some up trend so COULD (don't have to) continuation to go up.

But now it's testing previous trend line and it's hard to break it.
Attached Image (click to enlarge)
Click to Enlarge Name: tl.GIF Size: 26 KB
  • #66,627
  • May 19, 2008 5:27pm May 19, 2008 5:27pm
Your ALL WRONG you've failed to follow the basic rule of trading.



You shall not try to find a reversal of the current trend, merely go with current trend, the current trend is SIDEWAYS and RANGE BOUND!! play that until this changes.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #66,628
  • May 19, 2008 5:43pm May 19, 2008 5:43pm
Quoting Turveyd
Your ALL WRONG you've failed to follow the basic rule of trading.



You shall not try to find a reversal of the current trend, merely go with current trend, the current trend is SIDEWAYS and RANGE BOUND!! play that until this changes.
"Keep your eyes on the helpers" - Mr. Rogers
  • #66,629
  • May 19, 2008 5:51pm May 19, 2008 5:51pm
Looking at the 60 minute chart I'de expect to see some move North over the next 4-8 hours. MACD lining up a Long Cross, Momentum increasing and close above 8EMA. If I wasn't swing short already, I'de be looking for a move up to around 1.95342
Attached Image (click to enlarge)
Click to Enlarge Name: cable60_080619_2347.JPG Size: 107 KB
  • #66,630
  • May 19, 2008 5:57pm May 19, 2008 5:57pm
Quoting aidaweb01
Looking at the 60 minute chart I'de expect to see some move North over the next 4-8 hours. MACD lining up a Long Cross, Momentum increasing and close above 8EMA. If I wasn't swing short already, I'de be looking for a move up to around 1.95342
I would expect a slight up move starting at the open of the new bar, but one way or another this thing appears to be coming down. Sounds like 1.9525 may be a good place to add another short position if you believe what you say. With some pretty tight stops 50 - 75 pips pips I would say. This would give you good risk reward. It sure looks good to me. I will keep an eye on it
"Keep your eyes on the helpers" - Mr. Rogers
  • #66,631
  • May 19, 2008 6:56pm May 19, 2008 6:56pm
Damon, I think it'll retrace to somewher near the 1.9517 level, turn South, hit 1.9353, and bounce back up from there. Of course after the last few days, who the heck knows?



Quoting damonl
Does anyone else see GU hitting 1.9360 or lower tomorrow or the next day like I do? In fact, I do not even see how 1.9360 will not give way to lower presures. However, this point is pretty strong support, so I expect a bounce off this level before it goes any lower.

I guess the charts will let me know after it has happened, but that is how I think I will trade it. I will also set a Sell Limit at 1.9630 in case it heads back up for the day, but I doubt it will get that high. Looks like 1.9360 tomorrow at least.

Attachment
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-turn.gif Size: 23 KB
{Promotion Removed}
  • #66,632
  • May 20, 2008 12:24am May 20, 2008 12:24am
If I Go Broke Trying Then I Will die happy.
  • #66,633
  • May 20, 2008 1:27am May 20, 2008 1:27am
Quoting damonl
I would expect a slight up move starting at the open of the new bar, but one way or another this thing appears to be coming down. Sounds like 1.9525 may be a good place to add another short position if you believe what you say. With some pretty tight stops 50 - 75 pips pips I would say. This would give you good risk reward. It sure looks good to me. I will keep an eye on it
I don't currently add to positions although I think being able to do this successfully is possibly as close to the 'holy grail' as you are likely to get.

On the 60 minute chart it looks like there could be further moves to the upside (MACD X long looks to have more legs and momentum is increasing nicely). Although having said that, there are two key levels of resistance that it needs to contend with to start with. The 200EMA (1.95327) and the 50-61.2% fib retracements (1.95372 to 1.95579).

If these levels hold, then perhaps its time to bite the bullet and add to my swing short?
Attached Image (click to enlarge)
Click to Enlarge Name: cable60_080620_0726.JPG Size: 111 KB
  • #66,634
  • May 20, 2008 1:31am May 20, 2008 1:31am
Quoting ciscoguy
Damon, I think it'll retrace to somewher near the 1.9517 level, turn South, hit 1.9353, and bounce back up from there. Of course after the last few days, who the heck knows?
Hey Ciscoguy, if you do ever find anyone that knows, please let me know - we could all make some nice cash

I'de agree with your analysis on this.

Question - assuming potential support (or resistance) becomes ACTUAL support (or resistance) how much room to do you give CABLE (eg 10/50/100 bips?)
  • #66,635
  • May 20, 2008 1:48am May 20, 2008 1:48am
Quoting Moe
hey Moe, what u thinking? wheres the next 100+pips to be had?
Trading is 80% Emotional, 20% Technical
  • #66,636
  • May 20, 2008 2:35am May 20, 2008 2:35am
nice channel at on the 1hr chart. we at a resistance level , if it breaks this then up towards 19600
  • #66,637
  • May 20, 2008 3:21am May 20, 2008 3:21am
im actually scared to trade as i really have no idea whats going on..

daily says down but it looks as if we goign up ..
  • #66,638
  • May 20, 2008 3:39am May 20, 2008 3:39am
Quoting nAVIN2007
im actually scared to trade as i really have no idea whats going on..

daily says down but it looks as if we goign up ..
I think head & shoulders is formed on the daily chart and the trend reversal is being formed.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdheadshoulders pattern.gif Size: 17 KB
  • #66,639
  • May 20, 2008 3:42am May 20, 2008 3:42am
you are right Navin. Something is so wrong. it can go either way. Its as if everyone has given up on gbp/usd.
  • #66,640
  • May 20, 2008 4:00am May 20, 2008 4:00am
Quoting Gubster
you are right Navin. Something is so wrong. it can go either way. Its as if everyone has given up on gbp/usd.
definately ....i was expecting it to retrace to 61.8 and head downwards but it gone past this level meaning it might actually go right to the top..and u cant go long cause there plenty of resistance and shorting would seems buts as we past the weekly pivot

either direction is difficult and right now well for the past week i feel like im not trading but gambling on the direction
274 traders viewing now, 5 are registered:
saidi01
,
Xujan
,
,
,