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Cable Update (GBPUSD)

  • #83,741
  • Aug 22, 2008 3:00pm Aug 22, 2008 3:00pm
from here first target is 84.75
  • #83,742
  • Aug 22, 2008 3:01pm Aug 22, 2008 3:01pm
Quoting nAVIN2007
that support will break today and next week even lower..

how long has america been in recession? any1 know?
I think 9+ months. As far as UK goes I think by June or July of 2009 it might start back to 99 or 2 level or so.............. and by then their interest rate would be cut by 5 or 6 times......
  • #83,743
  • Aug 22, 2008 3:08pm Aug 22, 2008 3:08pm
Quoting asyed4
I think 9+ months. As far as UK goes I think by June or July of 2009 it might start back to 99 or 2 level or so.............. and by then their interest rate would be cut by 5 or 6 times......

ok then theres hope.....cause a lot of people think fair value for pound against dollar is 1.7 ish area...and cable went high because US was in recession and now it looking like theres some kind of recovery...maybe this is some kind of correction..

i have no clue only been trading since dec and that was demo..

bearish engulfing formation on oil ..heads up for us to short this mother
  • #83,744
  • Aug 22, 2008 3:16pm Aug 22, 2008 3:16pm
I think you guys are right, there are possibly 98% chance on Sunday evening would be gap down for two reasons:
1) UK is closed on Monday
2) Two weeks ago gap down happened; us closed @1.9212 and on sunday evening the gap down was 100 pips as low as 1.9115....

Who is gonna go with me navin would you join me. I know last Sunday I lost 50 bucks but first it went down 40 pips I was not in front of computer otherwise I would close my position, I was right 50 50 it was not actually gap down happened but it was a gap and the cable went down 40 pips then immediately it went up 100 pips,

OK my plan is 5 minutes to 5:00 pm eastern time I may take 0.1 lot position for Short Cable and last time they didn't filter out my limits and Sls so what I would do get the position as is at 4:55 pm today and put PT like 80 pips down and see what happens; I will put SL 30 pips very tight.....

Any vote for gap down and do it 5 minutes to 5:00pm????????
  • #83,745
  • Edited 4:24pm Aug 22, 2008 3:20pm | Edited 4:24pm
Quoting nAVIN2007
ok then theres hope.....cause a lot of people think fair value for pound against dollar is 1.7 ish area...and cable went high because US was in recession and now it looking like theres some kind of recovery...maybe this is some kind of correction..

i have no clue only been trading since dec and that was demo..

bearish engulfing formation on oil ..heads up for us to short this mother
You have over 3200 posts in only 9 months and you are not even trading a live account? Too much knowledge can be dangerous. Are you gonna go live? Not trying to be rude, just curious...
  • #83,746
  • Aug 22, 2008 4:14pm Aug 22, 2008 4:14pm
Ok..... so I am thinking..
Inverted hammer on the weekly
Bearish engulfing on the daily with lower low (lowest in two years)
UK registering weak data one after the other
Bounce getting weaker and weaker off the 8500 support.
Oil falling over $6.50 in one day
etc. etc.

I will be selling rallies next week as long as 8796 holds... I see this going down to 83xx next week...

Enjoy your weekend guys and dont forget to party...... I know I will after that medal haul by our Jamaican olympians.....
Attached Image (click to enlarge)
Click to Enlarge Name: week.GIF Size: 28 KB
Attached Images
Patience + Discipline - Greed = Success
  • #83,747
  • Aug 22, 2008 4:27pm Aug 22, 2008 4:27pm
Quoting Infinity
Ok..... so I am thinking..
Inverted hammer on the weekly
Bearish engulfing on the daily with lower low (lowest in two years)
UK registering weak data one after the other
Bounce getting weaker and weaker off the 8500 support.
Oil falling over $6.50 in one day
etc. etc.

I will be selling rallies next week as long as 9796 holds... I see this going down to 83xx next week...

Enjoy your weekend guys and dont forget to party...... I know I will after that medal haul by our Jamaican olympians.....
Man that Bolt is something amazing. Brilliant to watch. All credit to Jamica bro! Well Done. sterling weak as piss, im selling rallies all day long, easiet money u could ever make.....
Trading is 80% Emotional, 20% Technical
  • #83,748
  • Aug 22, 2008 8:49pm Aug 22, 2008 8:49pm
Quoting Infinity
Ok..... so I am thinking..
Inverted hammer on the weekly
Bearish engulfing on the daily with lower low (lowest in two years)
UK registering weak data one after the other
Bounce getting weaker and weaker off the 8500 support.
Oil falling over $6.50 in one day
etc. etc.

I will be selling rallies next week as long as 8796 holds... I see this going down to 83xx next week...

Enjoy your weekend guys and dont forget to party...... I know I will after that medal haul by our Jamaican olympians.....
Congrats to Bolt......that man can run!!!!

That monthly candle is too dangerous to mess with, going into the last week of the month, with the UK on Holiday Monday and not much data for the week on their books...

The party been going on, since the GDP report!!!!!

So we shall continue!!

HOLLA
  • #83,749
  • Aug 23, 2008 2:51am Aug 23, 2008 2:51am
Bros what are your positions for monday discuss?
i am inclined to short from my overall feel of the fundamentals .. but it is already rather low... worry of rebound

btw will the holiday on monday effect this pair? as in will it be inactive?
  • #83,750
  • Aug 23, 2008 4:12am Aug 23, 2008 4:12am
Quoting PipAV8tor
You have over 3200 posts in only 9 months and you are not even trading a live account? Too much knowledge can be dangerous. Are you gonna go live? Not trying to be rude, just curious...
sorry i should have been more clear..started in dec..in april i went live..was almost profitable but the fall 2 weeks ago..took a big chuck of my profits..
  • #83,751
  • Aug 23, 2008 8:03am Aug 23, 2008 8:03am

http://images.google.com.bn/url?q=ht...75SfKRo1NKA33Q


TIME TO BUY THE POUND!!


"Invest With The Insiders, Not The Masses" George Muzea
  • #83,752
  • Aug 23, 2008 8:07am Aug 23, 2008 8:07am
Quoting Qu|cksilver

http://images.google.com.bn/url?q=ht...75SfKRo1NKA33Q




TIME TO BUY THE POUND!!



WOW...I think so too...

Check This Out!!

sonic
  • #83,753
  • Aug 23, 2008 8:19am Aug 23, 2008 8:19am
Look at the quaterly chart and the fibo lines. Price exactly touch 61.80%
Attached Image (click to enlarge)
Click to Enlarge Name: gbp6mths.jpg Size: 99 KB
"Invest With The Insiders, Not The Masses" George Muzea
  • #83,754
  • Aug 23, 2008 9:11am Aug 23, 2008 9:11am
Hidden Divergence on Monthly chart.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.jpg Size: 99 KB
"Invest With The Insiders, Not The Masses" George Muzea
  • #83,755
  • Aug 23, 2008 9:22am Aug 23, 2008 9:22am
Quoting Qu|cksilver

http://images.google.com.bn/url?q=ht...75SfKRo1NKA33Q




TIME TO BUY THE POUND!!


Don't think anytime soon. Let the buyers exhausted I will only sell it.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #83,756
  • Aug 23, 2008 9:33am Aug 23, 2008 9:33am
Quoting Qu|cksilver
Hidden Divergence on Monthly chart.
Dear Quik,

R u saying a buy or a sell??
Am confuse!!

http://forexfactory.com/attachment.p...1&d=1219500643

sonic
  • #83,757
  • Aug 23, 2008 10:39am Aug 23, 2008 10:39am
Quoting sonicdeejay
Dear Quik,

R u saying a buy or a sell??
Am confuse!!

http://forexfactory.com/attachment.p...1&d=1219500643

sonic
thats quite a interesting chart..based on that..definately down..id say but short term up to make a lower high..then lower low or possibly break the lower trendline ...downtrend is as excellerated as can get..
  • #83,758
  • Aug 23, 2008 11:15am Aug 23, 2008 11:15am
Quoting Qu|cksilver
Hidden Divergence on Monthly chart.

Great chart.. take note of how far cable fell in 1992 which was the last recession in the UK.

Everyone is feeling the pinch here in the UK and they say we are about to enter another recession if not we are allready in one but the government will not admit it!
  • #83,759
  • Aug 23, 2008 11:31am Aug 23, 2008 11:31am
Quote
WOW...I think so too...

Check This Out!!

I have that trendline as already broken well and truly?

Something wrong with his data.
  • #83,760
  • Aug 23, 2008 11:32am Aug 23, 2008 11:32am
Quoting rossobonks
Great chart.. take note of how far cable fell in 1992 which was the last recession in the UK.

Everyone is feeling the pinch here in the UK and they say we are about to enter another recession if not we are allready in one but the government will not admit it!
The UK and US government are so much alike. Neither would say the "R" word. They will beat around the bush to avoid calling it like it is.
Expected the unexpected
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