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Cable Update (GBPUSD)

  • #89,061
  • Sep 25, 2008 10:04am Sep 25, 2008 10:04am
im in long atm. medium to long term.
  • #89,062
  • Sep 25, 2008 10:11am Sep 25, 2008 10:11am
Quoting Shilva
Here is what I am seeing....

The 50% fibo (on the daily's) off the high in the 9850 area on 8/1/08 has been touched around 8660... Will it test it again for a tripple top? I am considering 8330 two days ago and 8360 today and the double top.

9850 is the area the 200 and 50 ema's where confirmed as broken on 8/01/08.

8610 is the 50 ema at the present,,,down from 8650 area several days ago
To me this represents strong resistance between 8600 & and 8660... any sustained break above we should see the .618 around 8930. If 8650 holds, which seems likely, then a downtrend should start possibly by next week. Until then I think we will continue to range.

Fundamentally the U.S. news was poor as expected however CNBC is reporting the bail-out plan is all but passed.
If it is perceived by the world that the U.S. is taking the correct steps to avoid a GLOBAL recession then the dollar should strengthen and the downtrend resume.
i do agree with you but there might be a little mistake with the levels you mentioned, the top for this trend is somewhere between 1.8750 - 1.8810.
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I recommend you read something else as this sentence is now concluded.
  • #89,063
  • Sep 25, 2008 10:13am Sep 25, 2008 10:13am
in my newbie view i think cabal struggle at this level 1.845 (refer to my fibo 23.6) if it's going down to 1.84 the downtrend must be confirmed & next target @ 1.83- 1.835..but im sorry i cant speak english well..
wish me luck!
  • #89,064
  • Sep 25, 2008 10:13am Sep 25, 2008 10:13am
Quoting Qu|cksilver
the trendline. my theory when price hit trendline for the 3rd time price will bounce or retrace.
Thanks, i will remember that trade....Is that on the 60m only?

  • #89,065
  • Sep 25, 2008 10:17am Sep 25, 2008 10:17am
Quoting Shilva
Thanks, i will remember that trade....Is that on the 60m only?

any timeframe. just practice our eyes to see the perfect setup.
"Invest With The Insiders, Not The Masses" George Muzea
  • #89,066
  • Sep 25, 2008 10:22am Sep 25, 2008 10:22am
i think its clear now targetting faurther down trend ,,

do you thank so .. ??
  • #89,067
  • Sep 25, 2008 10:22am Sep 25, 2008 10:22am
Quoting uzair3001
to wat level da market will go in next few hours?
can any one guide me plz? im new to forex
my analysis, cable will continue going down to 1.8365 area
"Invest With The Insiders, Not The Masses" George Muzea
  • #89,068
  • Sep 25, 2008 10:23am Sep 25, 2008 10:23am
Quoting nangro
in my newbie view i think cabal struggle at this level 1.845 (refer to my fibo 23.6) if it's going down to 1.84 the downtrend must be confirmed & next target @ 1.83- 1.835..but im sorry i cant speak english well..


Your English is fine... just use spell check to make sure...I try to remember to do it.

Yes I see cable down from here despite the fact that I think the rescue plan will not avert a recession
  • #89,069
  • Sep 25, 2008 10:28am Sep 25, 2008 10:28am
Quoting allserene
Your English is fine... just use spell check to make sure...I try to remember to do it.

Yes I see cable down from here despite the fact that I think the rescue plan will not avert a recession
thanks!
wish me luck!
  • #89,070
  • Sep 25, 2008 10:29am Sep 25, 2008 10:29am
Looking and my charts, trendlines, and fibs I see 1.8380 as a good place to maybe reduce risk in your shorts.Just my opinion.
Please ask questions and share your experiences with us all!
  • #89,071
  • Sep 25, 2008 10:36am Sep 25, 2008 10:36am
Quoting eohater
Looking for the 1h 50 sma (red line) to hold for another fall. This coincides with the 15m 50 ema (blue line) to hold. Targeting the 50 ema (black line) on the 4h.
I'm short targeting the 50ema on the 4h. I'm stacked and covered.
Just digging in the trenches like everyone else!
  • #89,072
  • Sep 25, 2008 10:41am Sep 25, 2008 10:41am
Probably it is correction in intermediate term prospect. But considering global financial crisis the ascending trend comes to an end.
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???? ????!
  • #89,073
  • Sep 25, 2008 10:42am Sep 25, 2008 10:42am
Quoting eohater
I'm short targeting the 50ema on the 4h. I'm stacked and covered.
Looks like you have the right idea.I was in a meeting this morning so I missed the set up this morning but will try and catch the next one, and there will soon be another!!
Please ask questions and share your experiences with us all!
  • #89,074
  • Sep 25, 2008 10:44am Sep 25, 2008 10:44am
i long at 1.8401
"Invest With The Insiders, Not The Masses" George Muzea
  • #89,075
  • Sep 25, 2008 10:49am Sep 25, 2008 10:49am
closed @ 8409 for + 71

looking to short again on a pullback
  • #89,076
  • Sep 25, 2008 10:53am Sep 25, 2008 10:53am
Quoting eohater
I'm short targeting the 50ema on the 4h. I'm stacked and covered.
Great trade...
Patience + Discipline - Greed = Success
  • #89,077
  • Sep 25, 2008 10:55am Sep 25, 2008 10:55am
8380 is the 50% of the 7732-8668 up move swing, and also 1hr previous swing highs in the 8388 (friday's Hi) -8362 area.

The current failure at today's 8668 Hi means we remain below the 8680/90 Mthly Pivot and below the daily Pivot 8508 area but still abiove wkly at 8148 area. Price is 277pips off the i/day hi's now.

g/l.
ex member
  • #89,078
  • Sep 25, 2008 11:03am Sep 25, 2008 11:03am
Quoting Qu|cksilver
i long at 1.8401
stop out 0 pip.
"Invest With The Insiders, Not The Masses" George Muzea
  • #89,079
  • Sep 25, 2008 11:10am Sep 25, 2008 11:10am
waiting short @1.83959..
wish me luck!
  • #89,080
  • Sep 25, 2008 11:11am Sep 25, 2008 11:11am
Quoting bbmac
8380 is the 50% of the 7732-8668 up move swing, and also 1hr previous swing highs in the 8388 (friday's Hi) -8362 area.

The current failure at today's 8668 Hi means we remain below the 8680/90 Mthly Pivot and below the daily Pivot 8508 area but still abiove wkly at 8148 area. Price is 277pips off the i/day hi's now.

g/l.
So 1.8388 is support now ? I'm thinking dosen't go more short. How do you see this? Back to 1.8680 ?
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