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Cable Update (GBPUSD)

  • #89,161
  • Sep 25, 2008 9:46pm Sep 25, 2008 9:46pm
Hi all,

I am getting little confused about the US Bailout plan. If they approve it, shouldn't it be good for USD and drive Cable down strongly?

I see many people also talking about long and cable going to 1.8X area which making me confused.

Ofcourse, I am just a newbie and just trying to understand the effects :-) There are so many things don't understand clearly yet :-(
  • #89,162
  • Sep 25, 2008 10:03pm Sep 25, 2008 10:03pm
Quoting tokyobreeze
Hi all,

I am getting little confused about the US Bailout plan. If they approve it, shouldn't it be good for USD and drive Cable down strongly?

I see many people also talking about long and cable going to 1.8X area which making me confused.

Ofcourse, I am just a newbie and just trying to understand the effects :-) There are so many things don't understand clearly yet :-(
I am waiting for Fall down
  • #89,163
  • Sep 25, 2008 10:09pm Sep 25, 2008 10:09pm
Quoting Optimum
I am waiting for Fall down
Thanks a lot Optimum.

For last few days, I saw that downward move for Cable are generally driven by the NY Session. But, if they announce any detail on bailout plan at the last moment today, may be next week will be interesting?
  • #89,164
  • Sep 25, 2008 10:15pm Sep 25, 2008 10:15pm
H4...
Attached Image (click to enlarge)
Click to Enlarge Name: h4.GIF Size: 22 KB
Patience + Discipline - Greed = Success
  • #89,165
  • Sep 25, 2008 10:18pm Sep 25, 2008 10:18pm
Quoting Infinity
H4...
What did you mean.
I apologize . I didn't understand. Shorts "beware..."

I short at 1,8511
  • #89,166
  • Sep 25, 2008 10:23pm Sep 25, 2008 10:23pm
I'm in for the down!

If anybody was paying attention, I called this AM after the big drop that we would return to Yesterdays low as resitance which was 8457.

We are just about there now which is also at the 50% Fib from this AM's drop (or reasonably close). One thing i can say with almost 99.999% certainty that we will return to our low or somewhere near it at the 8306.

i'm short now (was in a few minutes ago) at 8428. TP set to 8325 just in case we don't make it al the way to the low. But for real, i expect it to go way back down to the 7000 area.

but i say this on tech only. This is all to the wind over fundementals and tomorrow may see some more craziness. But again, after all the US debockle on finance i expected a drop in the USD and we gained nearly 400 pips in face of utter USD ruin.

Peace and Pips
  • #89,167
  • Sep 25, 2008 10:26pm Sep 25, 2008 10:26pm
Quoting dakrusha
I'm in for the down!

If anybody was paying attention, I called this AM after the big drop that we would return to Yesterdays low as resitance which...
I short at 1,8511 t/p 1,8511

I was afraid
  • #89,168
  • Sep 25, 2008 10:32pm Sep 25, 2008 10:32pm
Quoting Infinity
I am watching the day close today.... I think if we close below the 50ema, we are heading back down 8200 area....
This played out nicely but at the time of posting the 4h 50ema was at 8200 area.... today it was touched at 8300 area. Also there is a tl on the h4 and daily which coincides with the 50ema on h4. We may retest the tl.... if it breaks down then it could go way down, if it holds, I think top of h4 channel...
Attached Image (click to enlarge)
Click to Enlarge Name: day.GIF Size: 11 KB
Patience + Discipline - Greed = Success
  • #89,169
  • Sep 25, 2008 10:33pm Sep 25, 2008 10:33pm
Quoting Optimum
I short at 1,8511 t/p 1,8511

I was afraid

HAHHAHAHA...ur funny! I had a sweet short Open this am from 8514 with my TP set to 8350.....I closed for only +30 or so..i was afraid too...HAHAHA
  • #89,170
  • Sep 25, 2008 10:39pm Sep 25, 2008 10:39pm
My 50's are crossing now....good sign for short.

I added these two the other day. This is on the 5M window. The seem to show an additional signal on crossings.
Attached Image (click to enlarge)
Click to Enlarge Name: 5m.jpg Size: 101 KB
  • #89,171
  • Sep 25, 2008 10:43pm Sep 25, 2008 10:43pm
Quoting Infinity
H4...
Good call...remember this thing can get churning on a Friday!

HOLLA
  • #89,172
  • Sep 25, 2008 10:48pm Sep 25, 2008 10:48pm
Quoting dakrusha
My 50's are crossing now....good sign for short.

I added these two the other day. This is on the 5M window. The seem to show an additional signal on crossings.
My head interfered.
South? north?
Long / Short ?
  • #89,173
  • Sep 25, 2008 10:51pm Sep 25, 2008 10:51pm
Quoting Optimum
My head interfered.
South? north?
Long / Short ?
HAHA...south by north east....
south i believe.
read my previous post too, they coincide.http://www.forexfactory.com/images/icons/icon10.gif
http://www.forexfactory.com/showpost...ostcount=89168
  • #89,174
  • Sep 25, 2008 10:57pm Sep 25, 2008 10:57pm
Quoting dakrusha
HAHA...south by north east....
south i believe.
read my previous post too, they coincide.http://www.forexfactory.com/images/icons/icon10.gif
http://www.forexfactory.com/showpost...ostcount=89168
1,8511 Become ahh ahh
  • #89,175
  • Sep 25, 2008 11:00pm Sep 25, 2008 11:00pm
Quoting Infinity
H4...
http://www.forexfactory.com/attachme...1&d=1222398938
Agree on this one...

I did have a nice scalp on GBP/USD short abt ~ 100 pip (1.861x region to 1.85xx) based on H1 TF but I covered it...


SHortist beware...
HERE

Sonic
  • #89,176
  • Sep 25, 2008 11:01pm Sep 25, 2008 11:01pm
All you have to do is, open your chart and look;


Here's what I propose; For now I favour a move to the downside unless, 1.8650 is taken out going to the upside.................

Happy Trading.
  • #89,177
  • Sep 25, 2008 11:08pm Sep 25, 2008 11:08pm
Ok i have the best analysis by far..
It will go both up AND down...the real question is...how far in either direction, but it will move for sure..
  • #89,178
  • Sep 25, 2008 11:11pm Sep 25, 2008 11:11pm
Quoting dakrusha
Ok i have the best analysis by far..
It will go both up AND down...the real question is...how far in either direction, but it will move for sure..
down down down
  • #89,179
  • Sep 25, 2008 11:13pm Sep 25, 2008 11:13pm
Quoting dakrusha
Ok i have the best analysis by far..
It will go both up AND down...the real question is...how far in either direction, but it will move for sure..

Check for lower highs and lower lows or the vice versa
  • #89,180
  • Sep 25, 2008 11:15pm Sep 25, 2008 11:15pm
Quoting AmeriTrini
Check for lower highs and lower lows or the vice versa
Good to see you in the thread bro!
Just digging in the trenches like everyone else!
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