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Cable Update (GBPUSD)

  • #67,321
  • May 22, 2008 10:26am May 22, 2008 10:26am
I've short on 19830 tp at 19772
Quoting ah_nen
lol not exactly coz i havent bought short yet XD
Keep Learning and you'll get what you want...
  • #67,322
  • May 22, 2008 10:26am May 22, 2008 10:26am
Quoting hussin naiji
agree with u
Hussin,

Are you saying that you believe we are going down?
Expected the unexpected
  • #67,323
  • May 22, 2008 10:29am May 22, 2008 10:29am
Quoting scyang
Cable is unbelievable. Euro, gold, oil, commodities have all come down. Only cable is staying up. Anybody has an explanation?
sterling strong across the board, retail sales slightly stronger, dont forgot frankfurt closed for business so less pple supporting the Euro! could well see retracement tomorrow if 19877 holds up... sterling yen up over 300+pips
Trading is 80% Emotional, 20% Technical
  • #67,324
  • May 22, 2008 10:31am May 22, 2008 10:31am
me too
  • #67,325
  • May 22, 2008 10:33am May 22, 2008 10:33am
Quoting scyang
Hussin,

Are you saying that you believe we are going down?
yes
  • #67,326
  • May 22, 2008 10:34am May 22, 2008 10:34am
Quoting scyang
Hussin,

Are you saying that you believe we are going down?
we got to the stage where we either going to breakout the top, which isnt likely and downtrend can only continue if break suport at 1.93 area..

should have next week if u ask me

the weekly candle would need to close below 1.9643 in oreder not to produce a morning star, which would confirm downtrend still, we cant get a morning star and go down....this is just my view

so this has to go down from here...
  • #67,327
  • May 22, 2008 10:36am May 22, 2008 10:36am
Just look out for the GDP announcement tomorrow. Things are pretty mixed up. It makes no sense but GBP could continue its upward movement. It could hit 1.9950 and beyond. Fundamentals point to weakness and I see a move back to 1.9600 and below. I'm on the side lines until after 930GMT. For a little more variety check out Eur/Jpy. Been trading nicely for past couple of weeks. Easy (ier) pips.
  • #67,328
  • May 22, 2008 10:36am May 22, 2008 10:36am
Quoting scyang
Hussin,

Are you saying that you believe we are going down?
http://www.forexfactory.com/showthre...=69786&page=50
  • #67,329
  • May 22, 2008 10:38am May 22, 2008 10:38am
It is really funny how some people here recognize the retracement as reversal of the main trend. I still think that the upward movement from last night and this morning is the part of the 50% retracement from 2.0394 - 1.9364 and most likely price will bounce off the 50% Fib, 1.9879, and will continue down in its main trend. I am short from 1.9825, open stop and target is 1.9232, if anyone is interested. Since the stop is open I am just using 1% margin and it will probably take 3-4 weeks to reach the target. Gluck everyone.
  • #67,330
  • May 22, 2008 10:38am May 22, 2008 10:38am
also 1.9848 is 138%-161% fibo ex (h4)
  • #67,331
  • May 22, 2008 10:44am May 22, 2008 10:44am
Quoting hussin naiji
also 1.9848 is 138%-161% fibo ex (h4)
but agree with NAVIN2007 because "hurry is the devils wont " we must wait 4 daily close then ......
  • #67,332
  • May 22, 2008 10:46am May 22, 2008 10:46am
Quoting hussin naiji
but agree with NAVIN2007 because "hurry is the devils wont " we must wait 4 daily close then ......

this is encouraging bro....been reading yur posts and there fantastic man, keep up the good work
  • #67,333
  • May 22, 2008 10:58am May 22, 2008 10:58am
The thing is finally broken down.
Expected the unexpected
  • #67,334
  • May 22, 2008 10:59am May 22, 2008 10:59am
man i sure hope gdp tomorrow is really low because cable is looking like a delicious sell.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,335
  • May 22, 2008 11:00am May 22, 2008 11:00am
Quoting scyang
The thing is finally broken down.
i wonder for how long
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,336
  • May 22, 2008 11:01am May 22, 2008 11:01am
Quoting scyang
The thing is finally broken down.
lets hope so .....will be interesting to see what happens at 50% retracement, if daily ends in a pin that be wonderfull but i think thats asking a bit much
  • #67,337
  • May 22, 2008 11:05am May 22, 2008 11:05am
Quoting nAVIN2007
lets hope so .....will be interesting to see what happens at 50% retracement, if daily ends in a pin that be wonderfull but i think thats asking a bit much
u know wat im noticing about myself

if i intentionally wanted to make so much mistakes in forex i wouldnt be able to

i wish i stuck to gbp/cad
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,338
  • May 22, 2008 11:33am May 22, 2008 11:33am
Quoting salah k.
u know wat im noticing about myself

if i intentionally wanted to make so much mistakes in forex i wouldnt be able to

i wish i stuck to gbp/cad

I know what u mean, if i tried to guess the wrong direction and sell instead of buy i couldnt do it better if i wanted to....madness, its strange how this works huh......

my problem is i miss the begining of the move and think if i jump in now it will turn so i look for i think is a turning point and i enter and clearly i get it wrong ...lol must learn to avoid this
  • #67,339
  • May 22, 2008 11:42am May 22, 2008 11:42am
Quoting nAVIN2007
I know what u mean, if i tried to guess the wrong direction and sell instead of buy i couldnt do it better if i wanted to....madness, its strange how this works huh......
i noticed that i wasnt wrong in going short
i just had no patience at all
and now i payed the price

we need to work on that bro
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,340
  • May 22, 2008 11:50am May 22, 2008 11:50am
Quoting salah k.
i noticed that i wasnt wrong in going short
i just had no patience at all
and now i payed the price

we need to work on that bro
absolutely will never be successfull at it otherwise ...i have no patience either but last week showed me that...market at time will hardly move so i have to patient...and now i have 2 shorts....i have no choice but to hang in there and this time i will unless a breakout towards the sky ..lol
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