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Cable Update (GBPUSD)

  • #67,241
  • May 22, 2008 5:58am May 22, 2008 5:58am
Quoting salah k.
looking for good time to short for 20 pips

With bearish divergence in the 1/5min oscillators and extreme readings to 1hr it's a fair short/pullback at that 9814 area being Offers 9815/25 (Mni,) Dly R2 area, 50% fib 0273-9362, ...area also just about in what I call the FRZ2 (Fib resistance zone 2) intraday potential Supp/Res areas,...see screenshot where resistance was found earlier in FRZ1
Attached Image
ex member
  • #67,242
  • May 22, 2008 6:06am May 22, 2008 6:06am
euro is down and commodities are down but cable still going higher
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,243
  • May 22, 2008 6:10am May 22, 2008 6:10am
Quoting salah k.
euro is down and commodities are down but cable still going higher
strange huh ....
  • #67,244
  • May 22, 2008 6:11am May 22, 2008 6:11am
Quoting salah k.
euro is down and commodities are down but cable still going higher
vice versa from yesterday.
If I Go Broke Trying Then I Will die happy.
  • #67,245
  • May 22, 2008 6:14am May 22, 2008 6:14am
Quoting Moe
vice versa from yesterday.
yeah
cable has a mind of its own AS
artificial stupidity
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,246
  • May 22, 2008 6:17am May 22, 2008 6:17am
Quoting nAVIN2007
strange huh ....
stranger than fiction
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,247
  • May 22, 2008 6:21am May 22, 2008 6:21am
That’s the thing with cable it is driven by sentiment way more than the other pairs.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #67,248
  • May 22, 2008 6:25am May 22, 2008 6:25am
Quoting salah k.
yeah
cable has a mind of its own AS
artificial stupidity
, cable have been stupid this whole year.
If I Go Broke Trying Then I Will die happy.
  • #67,249
  • May 22, 2008 6:27am May 22, 2008 6:27am
Quoting Bones
That’s the thing with cable it is driven by sentiment way more than the other pairs.
im startin to get worried here the 4 hr chart is very bullish
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  • #67,250
  • May 22, 2008 6:28am May 22, 2008 6:28am
look how strong trend is on EUR/GBP.
  • #67,251
  • May 22, 2008 6:28am May 22, 2008 6:28am
going out on a limb and going short 9809

s/l 9830
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,252
  • May 22, 2008 6:40am May 22, 2008 6:40am
on the smaller time frames, you look at the character of the intraday trend following the reaction to the upward revision of last month's retail sales (0830am gmt) and it is composed of shallow pullbacks only, (5min shows it well) therefore any shorting opportunity @ potential resistance is likely to be a shallow pullback until perhaps we can see the divergence in the oscillators extend up the time frames.
ex member
  • #67,253
  • May 22, 2008 6:43am May 22, 2008 6:43am
Quoting salah k.
going out on a limb and going short 9809

s/l 9830
this thing really does have a mind of its own...u just cant say whats happening ..u get a doji of resistance and being overbought yet it still goes up and the news werent even that great

what the hell made the dollar so weak over the past 2 days?
  • #67,254
  • May 22, 2008 6:46am May 22, 2008 6:46am
Quoting salah k.
euro is down and commodities are down but cable still going higher
sterling strong across the board against euro, chr, and yen
Trading is 80% Emotional, 20% Technical
  • #67,255
  • May 22, 2008 6:47am May 22, 2008 6:47am
There is an old maxim: 'oscillators can stay overbought or oversold longer than you have money in your account' Lol
ex member
  • #67,256
  • May 22, 2008 6:48am May 22, 2008 6:48am
Quoting bbmac
There is an old maxim: 'oscillators can stay overbought or oversold longer than you have money in your account' Lol
another one is go with the flow...
Trading is 80% Emotional, 20% Technical
  • #67,257
  • May 22, 2008 6:51am May 22, 2008 6:51am
Quoting fx local
another one is go with the flow...
relating to Don't sell strength, Don't buy weakness
ex member
  • #67,258
  • May 22, 2008 6:51am May 22, 2008 6:51am
Quoting fx local
i wish i did now, oh well good thing about the markets is that you more or less always get another chance to enter... if 19740 break up then could well see 19825 area, see how the UK retail sales come in.
clear as break out as youll see both on 4hour and daily, got 50%(2.0 to 1.93.) at 1.9877 could see some slowing there
Trading is 80% Emotional, 20% Technical
  • #67,259
  • May 22, 2008 6:52am May 22, 2008 6:52am
Quoting bbmac
relating to Don't sell strength, Don't buy weakness
especially on day/week like this
Trading is 80% Emotional, 20% Technical
  • #67,260
  • May 22, 2008 6:53am May 22, 2008 6:53am
I short 9840 S/L 9858
Grasp all lose all
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