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Cable Update (GBPUSD)

  • #67,361
  • May 22, 2008 12:43pm May 22, 2008 12:43pm
Quoting Andrezt223
http://www.tradingcentral.com/chart/...0522142716.GIF
GBP/USD intraday: slide then rise Pivot: 1.972

Our preference: Long positions above 1.972 with targets @ 1.985 & 1.99 in extension.

Alternative scenario: Below 1.972 look for further downside with 1.9685 & 1.9615 as targets.

Comment: a key rising trend line maintains upward pressure
Don't chase the market, Let the market come to you
  • #67,362
  • May 22, 2008 12:44pm May 22, 2008 12:44pm
remember that these guys are about 50% right too, do not use them as trade advise but more like a confirmation of your own charts

GBP above 2 next week
Don't chase the market, Let the market come to you
  • #67,363
  • May 22, 2008 12:53pm May 22, 2008 12:53pm
You are welcome my friend but it can be difficult to keep to the Motto even if you see it everyday,lol
Man its quiet


Quoting ForexRookie
This week i've tried something a little different, instead of trading the news i've been avoiding the news and trading inbetween it and so far so good, the less news releases the better.

Bones...

I don't mean to be taking your signature...its just a personal message to self as i have a hard time sticking to my plan!
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #67,364
  • May 22, 2008 1:00pm May 22, 2008 1:00pm
its really scary for me that some of the guys are short in cable and most of the traders cant even see that the cable is in a massive uptrend from monday/tuesday on... its heading to 1.206 mediium term and to 2.12 in the longterm ... pls gtraders dont take any short possitoins in the cable unless you are a scalper. good luck
  • #67,365
  • May 22, 2008 1:04pm May 22, 2008 1:04pm
Quoting crazy horse
its really scary for me that some of the guys are short in cable and most of the traders cant even see that the cable is in a massive uptrend from monday/tuesday on... its heading to 1.206 mediium term and to 2.12 in the longterm ... pls gtraders dont take any short possitoins in the cable unless you are a scalper. good luck
dude its a bit unclear to put 2.12 on the table
especially when UK is probably entering into a recession
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,366
  • May 22, 2008 1:21pm May 22, 2008 1:21pm
Quoting crazy horse
its really scary for me that some of the guys are short in cable and most of the traders cant even see that the cable is in a massive uptrend from monday/tuesday on... its heading to 1.206 mediium term and to 2.12 in the longterm ... pls gtraders dont take any short possitoins in the cable unless you are a scalper. good luck
have you lost your mind
If I Go Broke Trying Then I Will die happy.
  • #67,367
  • May 22, 2008 1:28pm May 22, 2008 1:28pm
Quoting Moe
have you lost your mind
no bro he is probably long.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,368
  • May 22, 2008 1:31pm May 22, 2008 1:31pm
Hi

Main Downtren from 2.1161 till 1.9335

if daily candle close above 1.9762 " fibo line 23.6 " open door to test fibo line 38.2 @ 2.0027

Good Day 4 all
  • #67,369
  • May 22, 2008 1:48pm May 22, 2008 1:48pm
Quoting Moe
there was realy only two good trading days this week, sunday open into monday and monday into tuesday, the rest of the week cable went crazy and started to do it's own thing. cable is just a hard MF to trade these days.
I know Moe, I took a BIG hit.........lost alot!!!!



.......I will never give up though.............NEVER!!!!
  • #67,370
  • May 22, 2008 1:52pm May 22, 2008 1:52pm
Quoting AmeriTrini
.......I will never give up though.............NEVER!!!!
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,371
  • May 22, 2008 1:52pm May 22, 2008 1:52pm
Quoting AmeriTrini
I know Moe, I took a BIG hit.........lost alot!!!!

i took a hit to but was able to catch sunday open to tuesday trend it happen man, all we can do is not blow our account and make a come back next week, alltho im still in profit this week i still gave some back, so i wont give no more back this week im done till next week, if you have a solid system then you have nothing to worry about because you know you can bounce back.
If I Go Broke Trying Then I Will die happy.
  • #67,372
  • May 22, 2008 2:00pm May 22, 2008 2:00pm
Quoting Moe
i took a hit to but was able to catch sunday open to tuesday trend it happen man, all we can do is not blow our account and make a come back next week, alltho im still in profit this week i still gave some back, so i wont give no more back this week im done till next week, if you have a solid system then you have nothing to worry about because you know you can bounce back.
My system is solid, I will make a comeback as well next week. My account is far from being blown.
  • #67,373
  • May 22, 2008 2:01pm May 22, 2008 2:01pm
bro i think tomorrow might show cable weakness across the board especially if gdp comes in weak.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,374
  • May 22, 2008 2:02pm May 22, 2008 2:02pm
hey moe i wanted to ask u
u trade on fridays?
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,375
  • May 22, 2008 2:12pm May 22, 2008 2:12pm
Quoting salah k.
bro i think tomorrow might show cable weakness across the board especially if gdp comes in weak.
i doubted Mr. Salah: I think Cable would still be in North for the last London Session before the long weekend. The Asia Session might be consolidating the cable between 1.9780-1.9825 before it take the upward pressure to Pre UK trading....


Title: GBP/USD intraday: slide then riseSummary: Update on supports and resistances.Story: Pivot: 1.972

Our preference: Long @ 1.973 with targets @ 1.985 & 1.99 in extension.

Alternative scenario: Below 1.972 look for further downside with 1.9685 & 1.9615 as targets.

Comment: a key rising trend line maintains upward pressure.
http://www.tradingcentral.com/chart/...0522154851.GIF
  • #67,376
  • May 22, 2008 2:12pm May 22, 2008 2:12pm
I knew that it was going to break out, but I was hoping that it would make the higher low before it did so, I'll be more carefull next time, thats for damn sure!!!
  • #67,377
  • May 22, 2008 2:12pm May 22, 2008 2:12pm
Good on ya Jamie,one step back two forward thats how I see it.


Quoting AmeriTrini
I know Moe, I took a BIG hit.........lost alot!!!!



.......I will never give up though.............NEVER!!!!
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #67,378
  • May 22, 2008 2:14pm May 22, 2008 2:14pm
You’ve saved me enough times in the past,lol
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #67,379
  • May 22, 2008 2:17pm May 22, 2008 2:17pm
Quoting asyed4
i doubted Mr. Salah: I think Cable would still be in North for the last London Session before the long weekend. The Asia Session might be consolidating the cable between 1.9780-1.9825 before it take the upward pressure to Pre UK trading....


Title: GBP/USD intraday: slide then riseSummary: Update on supports and resistances.Story: Pivot: 1.972

Our preference: Long @ 1.973 with targets @ 1.985 & 1.99 in extension.

Alternative scenario: Below 1.972 look for further downside with 1.9685 & 1.9615 as targets.

Comment: a key rising trend line maintains upward pressure.
i dont doubt wat ur saying one bit and i wont hesitate to enter long
but all im saying if gdp is weak ur first support might be touched and traders would put in their mind a rise in the probability of a rate cut


plus we have US number later on which might be much better than expected like the previous house-related number
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,380
  • May 22, 2008 2:20pm May 22, 2008 2:20pm
Quoting AmeriTrini
I knew that it was going to break out, but I was hoping that it would make the higher low before it did so, I'll be more carefull next time, thats for damn sure!!!
we were depending on the US FOMC minutes which we thought might actually drop their bullshit and focus on inflation like the rest of the world(mind u they are the people suffering most)

but that didnt happen and screwed everything up
"what doesn't bankrupt me, makes me stronger" modern nietzche
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