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Cable Update (GBPUSD)

  • #66,641
  • May 20, 2008 4:02am May 20, 2008 4:02am
Quoting nAVIN2007
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
News is bad for Germnay and slightly better for eurozone. So cable will probably bet pulled down.
Expected the unexpected
  • #66,642
  • May 20, 2008 4:20am May 20, 2008 4:20am
Im alittle upset with myself ive been holding my hedged loss of 80 pips since last week. I was going to eat my short positions at 1.9470 when it bounced off the 38% fib but i was too sleepy to stay up and watch it overnight. Would have ended up making money.
  • #66,643
  • May 20, 2008 4:22am May 20, 2008 4:22am
nice channel on daily chart. should be up to 19700
  • #66,644
  • May 20, 2008 4:26am May 20, 2008 4:26am
Quoting Andrezt223
Im alittle upset with myself ive been holding my hedged loss of 80 pips since last week. I was going to eat my short positions at 1.9470 when it bounced off the 38% fib but i was too sleepy to stay up and watch it overnight. Would have ended up making money.
well one thing for sure is......its moved up and retraced to 61% fib..

0% represents the neckline, if it breaks this it could in theory be ABCD pattern meaning its on the way to 2.04

views on this please?
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  • #66,645
  • May 20, 2008 4:27am May 20, 2008 4:27am
Ok you got the daily pin and weekly pin =bullish.
You got usdx =down
You got usd chf = down
You got eur usd = up
Total it up Cable = up.

9730 would be next target if we can break here at 9600
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #66,646
  • May 20, 2008 4:34am May 20, 2008 4:34am
Quoting Bones
Ok you got the daily pin and weekly pin =bullish.
You got usdx =down
You got usd chf = down
You got eur usd = up
Total it up Cable = up.

9730 would be next target if we can break here at 9600
welldone buddy i got a feeling its goig to the top ..goood trade, i missed it as usaul....lol but it gonna take the 4hr close to know this ...lmao

assuming this neckline breaks ..otherwise i say short.
  • #66,647
  • May 20, 2008 4:45am May 20, 2008 4:45am
Sell signal on the 5 minute chart (Doji candle) - Is the bull run on the 5 min over?

Was a pretty intense bull run on the 5 minutes - 200+ bips in 25 minutes. Was there a fundemental reason for this gain?

Sorry guys to ask a silly question (as explained in an earlier post, I'm a technical trader (indexes, grains, metals) who is looking to improve my understanding of the fundementals that may affect FX)
  • #66,648
  • May 20, 2008 4:48am May 20, 2008 4:48am
What about this?
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Biggest joker
  • #66,649
  • May 20, 2008 4:51am May 20, 2008 4:51am
Quoting baron193
What about this?
Attachment
So it is head and shoulder, but cable is running away like wild fire.
Expected the unexpected
  • #66,650
  • May 20, 2008 4:58am May 20, 2008 4:58am
This is looking ripe for a 100+ pip correction... I just don't see why one would open a long position after looking at the 5 minute chart here.
  • #66,651
  • May 20, 2008 5:00am May 20, 2008 5:00am
Quoting Subdude
This is looking ripe for a 100+ pip correction... I just don't see why one would open a long position after looking at the 5 minute chart here.
Hope you are right. You go in short and see if it pans out. I am too scared of cable right now.
Expected the unexpected
  • #66,652
  • May 20, 2008 5:02am May 20, 2008 5:02am
Yes, i'm not saying jump short now, but if you're looking for direction, IMO, it isn't there yet....plenty of similar examples...and it's right on resistance now...
Attached Image (click to enlarge)
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Biggest joker
  • #66,653
  • May 20, 2008 5:04am May 20, 2008 5:04am
This is hilarious. I had a LONG POSITION which I CLOSED AT 1.9561
Too scared to hold it any longer and look what happens.
  • #66,654
  • May 20, 2008 5:06am May 20, 2008 5:06am
Short?,maybe..., if it does something like this...
Attached Image (click to enlarge)
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Biggest joker
  • #66,655
  • May 20, 2008 5:07am May 20, 2008 5:07am
Quoting DJ4x
This is hilarious. I had a LONG POSITION which I CLOSED AT 1.9561
Too scared to hold it any longer and look what happens.
I think it's BECAUSE you closed it, that's why it ran up. It happens to me all the time. It's after I close (taking loss sometimes) that it starts doing its thing.
Expected the unexpected
  • #66,656
  • May 20, 2008 5:11am May 20, 2008 5:11am
Quoting DJ4x
This is hilarious. I had a LONG POSITION which I CLOSED AT 1.9561
Too scared to hold it any longer and look what happens.
lol ..i know what u mean i was thinking go long waiting for it to drop then it drops and i think maybe its going down .....so i hestitate not entery and it flies up ...what to do hey!
  • #66,657
  • May 20, 2008 5:12am May 20, 2008 5:12am
Out of all the majors, I believe cable is the most prone to whipsaws, which is what makes it especially dangerous... I generally avoid, but it does look quite overbought right now - perhaps the best thing to do is to stay away for now, indeed.
  • #66,658
  • May 20, 2008 5:15am May 20, 2008 5:15am
target 19730 then short. look at daily chart
  • #66,659
  • May 20, 2008 5:15am May 20, 2008 5:15am
oh man it broke before I could post.
9700 next
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #66,660
  • May 20, 2008 5:26am May 20, 2008 5:26am
Quoting Bones
oh man it broke before I could post.
9700 next

im to scared to enter ..lol
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