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Cable Update (GBPUSD)

  • #67,541
  • May 23, 2008 7:39am May 23, 2008 7:39am
Quoting AmeriTrini
how come Nav, you know something I dont?
he is going long in his demo account big time and keeping his shorts in the real account

thats y it might hit 9600
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,542
  • May 23, 2008 7:42am May 23, 2008 7:42am
Quoting scyang
Are there any dollar haters here? I am not one for sure. Most people were calling to short cable when it was going down earlier this month.
well actually earlier this month it hit 9300 area
so that should be enough
it was for me

but yes a lot of people are betting that dollar wont get out of this one.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,543
  • Edited 8:01am May 23, 2008 7:45am | Edited 8:01am
Quoting AmeriTrini
how come Nav, you know something I dont?
i dont think we going to breakout of the downtrend yet...this is the only reason for my short its still in the range of my channel and i believe it going to bounce down 1.9600 level i think it could achieve b4 heading up

also im thinking this upmove is retracement of the downtrend on the weekly....and from here it will resume natural trend...maybe

i want this candle on daily to end a doji or high wave then that would suggest we overbought and down we go i hope ...

dont worry bro ...i went in small and am prepared to hold position this time .....lol
  • #67,544
  • May 23, 2008 7:46am May 23, 2008 7:46am
Quoting salah k.
ur right
but i mean 5 mil in such a big number wont make that difference
or maybe it will
Yur right there but at least it would be a figure above the quarter average a move in the right direction as it were,
signs of recovery rather than looking like a bottom.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #67,545
  • May 23, 2008 7:49am May 23, 2008 7:49am
Quoting Bones
Yur right there but at least it would be a figure above the quarter average a move in the right direction as it were,
signs of recovery rather than looking like a bottom.
oh now i get ur point
yes that gives a better message for dollar buyers
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,546
  • May 23, 2008 8:01am May 23, 2008 8:01am
Looking at the figures it only moves in small chunks anyway(downwards)Febuary gave hope with a higher than the previous number and above 5 mil ,but now March and April Suggest bottom rather than recovery.




Quoting Bones
Yur right there but at least it would be a figure above the quarter average a move in the right direction as it were,
signs of recovery rather than looking like a bottom.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #67,547
  • May 23, 2008 8:05am May 23, 2008 8:05am
Quoting salah k.
he is going long in his demo account big time and keeping his shorts in the real account

thats y it might hit 9600
might have to try that if this fails
  • #67,548
  • May 23, 2008 8:11am May 23, 2008 8:11am
Quoting nAVIN2007
might have to try that if this fails
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,549
  • May 23, 2008 8:11am May 23, 2008 8:11am
here is my 6 months view on the cable..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp1.gif Size: 59 KB
Click to Enlarge Name: gbp2.gif Size: 65 KB
  • #67,550
  • May 23, 2008 8:13am May 23, 2008 8:13am
dollar is really weak
and Dow is having the worst day in the week
actually this is probably the worst week of the year down almost 600points
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,551
  • May 23, 2008 8:18am May 23, 2008 8:18am
Have you spotted the double top and bearish divergence?
Money & Pain Respect the market, protect your capital, be patient
  • #67,552
  • May 23, 2008 8:19am May 23, 2008 8:19am
show me the double top ??? ive seen double bottom
  • #67,553
  • May 23, 2008 8:19am May 23, 2008 8:19am
Quoting crazy horse
here is my 6 months view on the cable..
morning stars my friend occur at a bottom.. secondly thou the pattern is bullish its reched the top.....the significance of this pattern there isnt saying this is start of a uptrend ..

a swing high shall be be produced around here and next part of the wave will be down.....
  • #67,554
  • May 23, 2008 8:20am May 23, 2008 8:20am
Quoting crazy horse
here is my 6 months view on the cable..
forgive my ignorance

but i have one question
in ur right tip in the first chart the price action did not abide by it

so are u saying in ur chart that it will or that it will just hit the leftmost point just to fullfill the pattern?
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,555
  • May 23, 2008 8:21am May 23, 2008 8:21am
navin if you said that is not a morning star,,then good luck with youre trading...you need seriuosly more practise my friend
  • #67,556
  • May 23, 2008 8:22am May 23, 2008 8:22am
salah,,its on his way to make the right tip,,,the uptrend start now upto the right tip at 2.06
  • #67,557
  • May 23, 2008 8:22am May 23, 2008 8:22am
You can see it on 1hr and 3hr charts
Attached Image
Money & Pain Respect the market, protect your capital, be patient
  • #67,558
  • May 23, 2008 8:23am May 23, 2008 8:23am
short @ 1.9815 my target @ 1.9745, S/L @ 1.9850 , hope it goes well for me this time
  • #67,559
  • May 23, 2008 8:24am May 23, 2008 8:24am
Currently, the trend is still up. I anticipate GBP to close between 1.9840 and 1.9870, and gap down on Sunday
"Luxury is one of the basic needs", (c), Don Corleone
  • #67,560
  • May 23, 2008 8:25am May 23, 2008 8:25am
toboy ,,man , lol you see it on youre hourly chrt ... its just a retrace.. its heading to 2.06 . did you see my charts ..hhmm weekly and daily , not 1 hour and 30 min
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