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Cable Update (GBPUSD)

  • #90,341
  • Oct 5, 2008 5:06pm Oct 5, 2008 5:06pm
Quoting nedal26
short 1.7835

target 1.7705
closed 1.7620

edit: still have 5 shorts from 1.7710 all Sl: 1.7650

then i`am out...
  • #90,342
  • Oct 5, 2008 10:35pm Oct 5, 2008 10:35pm
Good morning all

what`s there m8s no budy talk.. no charts...?

by the way all i see that it`s keep hit low after low..

looking for nice retrac...
  • #90,343
  • Edited 1:41am Oct 6, 2008 12:08am | Edited 1:41am
wut up home slices...how was everybodies weekend? i hope awesome.
i got a lot of sleep so i'm great. PLUS....i'm up+55 for today so i'm happy.


not sure what to make of the recent bounce off of 7566 (oops small corection, i orig sed 7266)....didn't quite get too yesterdays low, but i'm thinkin it may spike to it...but at least we should be headed back to 7624 for resistance check...

i'm workin tonight so i'll be in and out.
PEACE!!!!
  • #90,344
  • Oct 6, 2008 1:35am Oct 6, 2008 1:35am
hi guys
nice gap to the down happened

and i was forecast the continuation of downtrend from two weeks ago and take one more sell (short ) position @ 1.85xx and untill now more than 1000 pips profit
price already make new records to the down as usual.
but in those levels we have to care more to fundamental aspect such like the technical aspect.
all my technicals analysis confirm the down trend and here is my weekly chart the post no ..2..
not only one breakout but two breakouts confirm the down trend and as shown the price tried to make retrace and found a massive resistance & price continued his down movement untill now.
but as i said before we have to our eyes on fundamentals too.
now if everyone know the price is going down so who will win and who will loose?
the answer is
minority always win .

and what this mean?!!!!!!!!!!!
as i said before all the buyers and sellers in those threads ,
so if you found every one post focused on the up movement that might happen (retrace) so the price will go down coz all the traders will take long positions & visa verse.

so as i said all my charts screem shorts, from time ago and we have many breakouts not only one so the trend is down no dought in that but you have to put your eye on fundamentals too my friend.

and here is my charts forecasting my final targets.
and as you see still waiting for more down movement.
more than another 1000 pip.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 2b.gif Size: 14 KB
  • #90,345
  • Oct 6, 2008 1:43am Oct 6, 2008 1:43am
I entered a sell stop order to be opened @7474
Jesus Christ is my only Lord !
  • #90,346
  • Oct 6, 2008 1:48am Oct 6, 2008 1:48am
Hello all,

Hoop this week gives us better pips.

Does any one think the .7555 resistance will be broken?

Thinking to short at 1.7595 sl 1.7627 Tp 1.7517

What do you think?
  • #90,347
  • Oct 6, 2008 1:52am Oct 6, 2008 1:52am
Quoting peulthai
Hello all,

Hoop this week gives us better pips.

Does any one think the .7555 resistance will be broken?

Thinking to short at 1.7595 sl 1.7627 Tp 1.7517

What do you think?
I believe it will be broken...I would expect a pullback around 1.766x area for another charge south even deeper than the current low....
Just digging in the trenches like everyone else!
  • #90,348
  • Oct 6, 2008 1:57am Oct 6, 2008 1:57am
Quoting hipcio
I entered a sell stop order to be opened @7474
I would hold off on the short until we see what it's going to do in the 625 area. It may not get there at all if the down trend is that strong, but i believe it will. That is a local support that was broken so now it will be local resistance.
we want to see that resistance hold for further shorts.
I think overall we are still in a down trend as i posted at the end of last week, if you look back to the top you will see my post from a while ago which is coming to fruition now. it dropped back to 555 and is now going north.
  • #90,349
  • Oct 6, 2008 1:58am Oct 6, 2008 1:58am
Quoting eohater
I believe it will be broken...I would expect a pullback around 1.766x area for another charge south even deeper than the current low....
WUT UP DOG!!!
i see we are on the same page..nice to have confirmation!
hope ur weekend was killin it
  • #90,350
  • Oct 6, 2008 1:59am Oct 6, 2008 1:59am
Quoting eohater
I believe it will be broken...I would expect a pullback around 1.766x area for another charge south even deeper than the current low....

Yeah it is already... but my SL is intact... the cable is capable of anything these days
  • #90,351
  • Oct 6, 2008 2:04am Oct 6, 2008 2:04am
Quoting dakrusha
WUT UP DOG!!!
i see we are on the same page..nice to have confirmation!
hope ur weekend was killin it
Life is good, I didn't get the great amount of sleep you got this weekend though! I played the gap today..once she closed I took a short and closed her out for 130...then a little long for 20...and now I'm waiting for a new ride....the way she's acting right now we're going to see 1.7450 before we see 1.766x...
Just digging in the trenches like everyone else!
  • #90,352
  • Oct 6, 2008 2:07am Oct 6, 2008 2:07am
Quoting eohater
Life is good, I didn't get the great amount of sleep you got this weekend though! I played the gap today..once she closed I took a short and closed her out for 130...then a little long for 20...and now I'm waiting for a new ride....the way she's acting right now we're going to see 1.7450 before we see 1.766x...
yeah whoo knows!
this market is proving that technicals sometimes don't count for much and you better have some great SL's happening.
  • #90,353
  • Oct 6, 2008 2:10am Oct 6, 2008 2:10am
Quoting dakrusha
yeah whoo knows!
this market is proving that technicals sometimes don't count for much and you better have some great SL's happening.
She's eating SL's like it's candy....I'm just glad I'm not stuck in a long from 1.78 (if you recall from Friday's end of US trading discussion)....
Just digging in the trenches like everyone else!
  • #90,354
  • Oct 6, 2008 2:13am Oct 6, 2008 2:13am
Quoting eohater
She's eating SL's like it's candy....I'm just glad I'm not stuck in a long from 1.78 (if you recall from Friday's end of US trading discussion)....
yeah no schnap!!!
yet one more reason to close trades over the weekend.http://www.forexfactory.com/images/icons/icon10.gif
  • #90,355
  • Oct 6, 2008 2:15am Oct 6, 2008 2:15am
Just a thought...we realize that shorts are the key player right now...but if the current 4h candle closes full will a little wick, I'm looking at a long (I will only take this upon or within the first 15 min of the new 4h candle being open) back to the 1.766x area to be able to play it short again...
Just digging in the trenches like everyone else!
  • #90,356
  • Oct 6, 2008 2:15am Oct 6, 2008 2:15am
Quoting dakrusha
I would hold off on the short until we see what it's going to do in the 625 area. It may not get there at all if the down trend is that strong, but i believe it will. That is a local support that was broken so now it will be local resistance.
we want to see that resistance hold for further shorts.
I think overall we are still in a down trend as i posted at the end of last week, if you look back to the top you will see my post from a while ago which is coming to fruition now. it dropped back to 555 and is now going north.
I can missunderstand your comment - my English is not good enough,
but I can see the possibility of the pullback, so I put an order on my platform
to open short in case it breaks this level. It will not been opened if it goes north from now.
Jesus Christ is my only Lord !
  • #90,357
  • Oct 6, 2008 2:18am Oct 6, 2008 2:18am
Quoting hipcio
I entered a sell stop order to be opened @7474
post
Jesus Christ is my only Lord !
  • #90,358
  • Oct 6, 2008 2:32am Oct 6, 2008 2:32am
thoughts?
Attached Image (click to enlarge)
Click to Enlarge Name: chart.JPG Size: 110 KB
Just digging in the trenches like everyone else!
  • #90,359
  • Oct 6, 2008 2:32am Oct 6, 2008 2:32am
Quoting hipcio
I can missunderstand your comment - my English is not good enough,
but I can see the possibility of the pullback, so I put an order on my platform
to open short in case it breaks this level. It will not been opened if it goes north from now.
no i think it's I that misunderstood.
I read your entry as 7574.
but i will say this about your 7474 entry.
Often once we break a 00 area (e.g. breaking 1.7500 down to 1.7475) it's very common to see it return to 1.752x before it continues south.
SOOOO
if you set your entry at 7474 dont be surprised to see -40 or so before you see profit.

that not ALL the time, but it happens a lot.
sorry for the mix up.http://www.forexfactory.com/images/icons/icon7.gif
  • #90,360
  • Oct 6, 2008 2:35am Oct 6, 2008 2:35am
Quoting dakrusha
....
Often once we break a 00 area (e.g. breaking 1.7500 down to 1.7475) it's very common to see it return to 1.752x before it continues south....
So true!
Just digging in the trenches like everyone else!
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