Cable Update (GBPUSD)

WOW!
It just broke the 0 level. Isn't that supposed to be like, kind of rare or something?

i am watching the charts and laughing

am i dreaming?? is it for real??

9200 hit - closed my shorts as swissy also hit 0800 level lets see what reaction we get.....also I'm seeing some bullish divergence on the short TFs

like that looooool

bullish or bullshit???

look like the bulls are dead. is the US goverment buying there own currency or what???...man i might give up forex after this .this is total bullshit, make no sense

just go work and save my money ..

Just go with it..

navin
i hate to be the guy that always gets on ur nerves man but i mean no harm at all and im just lookin out for u as ive been tradin for a long time

a clear obvious downtrend on cable. just by lookin at a 1h or 4h chart.
why bother with longs or worrying when its gonna bounce.
ill be honest i didnt short cable at all this past 2 weeks but i shorted the shit out of gold and banked coz its in the same boat

technically cable in a downtrend.
we saw oil and gold come off highs nicely and developed a downtrend
fundamentally just ask salah hll tell u how slowly the sentiment has been changing this past 2 weeks

there is no reason why u should even think about buying cable or anything against the dollar at the moment.

ur a position trader. thats the type of trade u should be lookin for not tryin to scalp a dangerous long (tryin to catch a fallin knife) in a falling market

all u gotta do is plot 1 or 2 moving averages like a 200 and a 365 wait for price to steadily stay above them with higher highs for a trend and just buy on dips once u get a trigger
im not tryin to teach u but im showin u how obvious the market can be and how alot of people dont see that and end up losing money

take care

WTF....Goshh...goshhh....what happened with Cable...My godness!! Cable having serious+severe+catastrophic+disastrous kind of "diarrhoea"...

well......I just broke even for the week from the longs @ 9650 that Sl @
-100 each
kicking myself for not stop and reverse sooner

"it's gonna turn, it's gonna turn, it's gotta turn, this don't make sence...it's gotta turn here. None of my perdictions are working... what's going on...

way to much "emotions"

I have blown 2 live accounts in the past just like that.

Fortunately, I will be still playing again with the "world's money" monday!

Small long 1.9195. When US statrts to do something about it's near 10 trillion debt it might be time to look at buying dollars. Until then....

GBP-USD seasonal movements based on an average of 36 years --->
beginning of August: down

Hopefully, we can be on that slow boat to China, huh? I'm in on three trades long: 1.9585, 1.9589. and 1.9602.
Had to make sure I transferred some funds from one account to prevent a margin call. I don't trust the cable holding at 1.9200...supports have been decimated all week long. A meteor has gone through 7 floors of a 10 story building without stopping!!

Cable Man is out to get somebody, for sure. Your hammer indicator looked promising, but by this AM, she slipped to below 1.9200. Yikes!! I've transferred funds over to two trading accounts just in case we get fooled again for the sixth or seventh time. (The Who) Crossing fingers over here in the States.

yeah .....now we need rain to put the fire out and find some fresh bulls cause these ones are tired

Thought that this article on the main page was interesting. Might explain the abruptness of this whole move
http://www.forexfactory.com/news.php?do=news&id=99667

£$ currently trading at the lower end of the weekly potential support zone 9140-9550, being comprised of former swing highs on that chart. Price has however made a new yearly low and is coming close to the 2007 lows at 9187 area. The previous Daily swing lows at 9334-9400 could now be tough resistance on any attempt at an extended rally.

Pullbacks have been shallow generally finding resistance at broken support as was the case at 9268 today, being the Daily S3 pivot a previous 1hr swing low and the 23.6% of the then intraday move down.

The screenshot below is the bullish divergence that set-up on the 1min chart at the current intraday lows 9190 area which are around Daily S4 pivot able horizontal dotted line.) This bullish divergence/extreme readings extend up to the Daily chart now, and with price 247pips down on the day, and well extended from it's avearge daily range, the question is whether this is the daill low, partticularly with position squaring/profit taking ahead of the w/e and as the Olympics get underway with a spectacular opening ceromony going on in Bejing?

Wjatever the case, good luck.

the screenshot below shows the earlier pullback to 9268 area from 9215 lows before a with trend follow thru to new lows at 9190 area as support turned to resistance, indicated by the hidden divergence in the lower t/f oscillators 5/15min

There's a probability that the downtrend can slow down. A couple of divergences are forming in lower timeframes. But it doesn't mean that it's gonna reverse. There's a lot of resistances above.

Tnx for the link DJ4x. Very interesting concepts.