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Cable Update (GBPUSD)

  • #104,721
  • Dec 5, 2008 9:59am Dec 5, 2008 9:59am
LOL I sse it is bouncing off the 5 minute trend line, those short time frames scare the jumping Jesus out me..
  • #104,722
  • Dec 5, 2008 10:02am Dec 5, 2008 10:02am
Quoting NightMoves
LOL I sse it is bouncing off the 5 minute trend line, those short time frames scare the jumping Jesus out me..
The dow is 215 pts down.
Normally this baby will follow.
  • #104,723
  • Dec 5, 2008 10:03am Dec 5, 2008 10:03am
Quoting lexazver
learned that the hard way last year by blowing 10K account countertrending. Now i got almost everything back.
as they say Trend is your friend and girlfriend
LOL yeah but isnt tempting to go counter trend!! you might catch a 500 pips reversal you know! but you have 5% chance to do that hahahah
When life gives you lemons, make lemonade
  • #104,724
  • Dec 5, 2008 10:05am Dec 5, 2008 10:05am
LMAO that is true ...now that is what I call agressive trading
  • #104,725
  • Dec 5, 2008 10:07am Dec 5, 2008 10:07am
This volatile ranging scare the shit out of me
  • #104,726
  • Dec 5, 2008 10:07am Dec 5, 2008 10:07am
Quoting micho
LOL yeah but isnt tempting to go counter trend!! you might catch a 500 pips reversal you know! but you have 5% chance to do that hahahah

according to my lunar calendar its not due to start until 24th of dec
  • #104,727
  • Dec 5, 2008 10:12am Dec 5, 2008 10:12am
Quoting "expert"
Hi all: After big time heare i am...
yap baby 4550 now more then 200 pips. and i wasn't at computer.This is getting better and better.Hope to break next week this 4500 level if not today and we can go on more down.If we dont break that level we will be in range again.And still think that from time to time BOE will make intervention on market to make this fall little slower then it was so far.see ya
  • #104,728
  • Dec 5, 2008 10:12am Dec 5, 2008 10:12am
Quoting lexazver
according to my lunar calendar its not due to start until 24th of dec
When life gives you lemons, make lemonade
  • #104,729
  • Dec 5, 2008 10:13am Dec 5, 2008 10:13am
We are getting closer
  • #104,730
  • Dec 5, 2008 10:15am Dec 5, 2008 10:15am
Almost to the .4550
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 1hr.gif Size: 33 KB
  • #104,731
  • Dec 5, 2008 10:17am Dec 5, 2008 10:17am
Quoting "expert"
yap baby 4550 now more then 200 pips. and i wasn't at computer.This is getting better and better.Hope to break next week this 4500 level if not today and we can go on more down.If we dont break that level we will be in range again.And still think that from time to time BOE will make intervention on market to make this fall little slower then it was so far.see ya
where are they gonna get the money ) they sold shit loads of gold reserves at crappy price and now gov't used huge pile of money to sort this whole banking crisis and still ain't getting anywhere if anything low pound will help the exports so im not really convinced by the intervention story.
  • #104,732
  • Dec 5, 2008 10:27am Dec 5, 2008 10:27am
This kind of intervention would work without issue if this crisis was not global, but the fact is the global markets are so intertwined now that this is such a small amount of intervention with respect to the whole global market I do not see how it can work unless everyone contributes and then I am not sure it would work, I think it just needs time
  • #104,733
  • Dec 5, 2008 10:30am Dec 5, 2008 10:30am
There will be atleast one buyer here if this thing breaks below 4500.


I will let you all determine that
  • #104,734
  • Dec 5, 2008 10:38am Dec 5, 2008 10:38am
It's having a rough time breaking the .4500 but once it does it may move with some good momentum it still has about 95 pips to make the daily average move so if it breaks it could be a good gainer, but looks like the London session may close before that happens then it it will slow down again maybe...
  • #104,735
  • Dec 5, 2008 10:39am Dec 5, 2008 10:39am
Does anyone else see this set up coming

Head and shoulders formation with a double bottom

Also hitting a TL around 4480

First of next week most likely!
  • #104,736
  • Dec 5, 2008 10:40am Dec 5, 2008 10:40am
Quoting Shilva
Does anyone else see this set up coming

Head and shoulders formation with a double bottom

Also hitting a TL around 4480

First of next week most likely!
Here is the chart!
Attached Image (click to enlarge)
Click to Enlarge Name: dec5.JPG Size: 143 KB
  • #104,737
  • Dec 5, 2008 10:40am Dec 5, 2008 10:40am
Quoting micho
this is what im talking about: weren't you tempted to long at 49? yes you were, so was i... but i will not go long counter trend... why? because i had 80% profitable trades with the trend and 90% losing trades counter trend with tight stop loss so why would i want to bother again!!!

i hear yah..im surprised this mofo still went down...i gotta ammit i thought it was going up...i been out today..giving myself a rest, its been hectic week

hope its going better for u today bro
  • #104,738
  • Dec 5, 2008 10:41am Dec 5, 2008 10:41am
Hi All

When does profit taking normally start happening on a Friday?
  • #104,739
  • Dec 5, 2008 10:42am Dec 5, 2008 10:42am
Quoting Shilva
Here is the chart!
looks good bro
  • #104,740
  • Dec 5, 2008 10:46am Dec 5, 2008 10:46am
Quoting Shilva
Does anyone else see this set up coming

Head and shoulders formation with a double bottom

Also hitting a TL around 4480

First of next week most likely!
i saw the inverse H&S and the double bottom.. so long?
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