Cable Update (GBPUSD)

Good entry, Damn near bottom

doesn't seem like would be going up too much from that chart

what is your tp ? my tp is 1.9820 ...

Initial target = 1.9778. Look to add more positions on a retracement around this level

pin in tf 4h confirm?? 1.99++??

1.9715

Tp:1.98

Sl: 1.9680

Discard this...

But trend seems like going down now

Long term chart of Cable..we are still in uptrend (duh!)

First major leg retraced 38% of its length , then uptrend resumed. That consolidation period at the 38Fib level lasted about 1 year.

Then we had another majo bull leg. It topped out at end of 07. Since then we have correction, which so far stopped again at the 38 Fib level, which is also the ptop of the first bull leg. Since touching the latest 38 Fib level, we are bouncing up and down. Already in the 6t-7th month of ranging just above the 38 Fib.

Past history may repeat itself (that's what I am betting on). We migh continue to have consolidation and range movement till the end of the year or so. Then another leg up is possible. I am biased for continuation of prior major trend direction, till I see serious signs of the opposite

Charts below.

Buying at the 38fi around 1.94 -1.95 then selling a few hundred pips up, again and again. Be nimble and don't wait for any large trendy moves, cause they are unlikely to happen any time soon. I am not an intraday trader, so I just sit and play those swings once in a while, waiting for the fog to clear up and see major directional moves again.

Those who bet the farm in these conditions waiting for the big one to come, are being whipsawed to death
http://img294.imageshack.us/img294/3...at38fibnu6.jpg
http://img246.imageshack.us/img246/4...tat38firi1.jpg

Initial Jobless Claims395404346

Bernanke on the Stand...

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who know what happen, they come and go mabe it's my time http://www.cvreefers.org/images/smilies/burnout.gif

So, what now. Will she hold it, or will fall down?

http://www.cvreefers.org/images/smilies/bump1.gif move b$tch get out the way.

No indication remaining that the pound is going up

im wating for 1.9690 my t/p http://www.cvreefers.org/images/smilies/icon24.gif

even now it`s falling down ....

Oh no, the last source of fun here. Everyone talking technicals (and believing them), no use to read the forum without your refreshing jokes...

http://www.cvreefers.org/images/smilies/icon_rofl.gif

last support point on the fibonaaci is 1.9723

Yeah, but not so much as it should...I don't believe her, this price action is not so big as it should be..