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Cable Update (GBPUSD)

  • #110,161
  • Jan 8, 2009 5:15am Jan 8, 2009 5:15am
Quoting alcando
Actually, it does look eerily similar to that Horny beast formation hey!



Lol I was thinking the same thing.Right before the news release.
  • #110,162
  • Jan 8, 2009 5:15am Jan 8, 2009 5:15am
Quoting gammase1
But you've been calling for long positions on Cable since the massive fall at the end of the summer. You have to be right, eventually!
I've been right since this came off it's lows. That's what I'm trying to tell you. No "eventually" about it. What did you think? Parity with the $ and the Euro?
Wait until the employment data is released. If it's dire, then this rally will continue as the DOW falls. If it's good, take some profit, and re-enter on the pivots.
  • #110,163
  • Jan 8, 2009 5:15am Jan 8, 2009 5:15am
Quoting uut
waiting the best moment to sell
yep................after unemployment claims.
  • #110,164
  • Jan 8, 2009 5:16am Jan 8, 2009 5:16am
Quoting Bullfx
Oh, it means you go the reverse direction to the market and then have to cut loss?
But GU price is manipulated because rising while cutting rate and while EU and other pairs don't move.
Now I think GU is too overbought.

bullfx..the market is exactly where it should be at this point in time..to disagree is like saying everyone else is wrong...

now..the longer it sits here and if future news does not affect the position..I will strongly consider placing shorts below this point in time...

all else is speculation...
  • #110,165
  • Jan 8, 2009 5:18am Jan 8, 2009 5:18am
Quoting penycae
I've been right since this came off it's lows. That's what I'm trying to tell you. No "eventually" about it. What did you think? Parity with the $ and the Euro?
Wait until the employment data is released. If it's dire, then this rally will continue as the DOW falls. If it's good, take some profit, and re-enter on the pivots.
Anyone can come on here over a period of months and call "buy now", as eventually they have to be correct. You have been posting to go long for months. Everyone makes good call and bad ones(me more than many), that is part of the game, of course. However, the tone of your post totally ignores your previously held views.

Over the longer term, I think sterling will rally, once the policy rates of the Fed, ECB and BOE roughly converge at or close to zero. In the short-term, I'll trade off the charts, whilst observing price action.

It is like an equity analyst saying from Oct 2007: "buy the S&P 500 now", then repeating that call constantly. And when the S&P 500 does eventually rally briefly, only after a 45% fall, for that same analyst to claim "I told you so. I knew I was right, but would anyone listen"....
  • #110,166
  • Jan 8, 2009 5:19am Jan 8, 2009 5:19am
Quoting trader2160
Lol I was thinking the same thing.Right before the news release.
If its possible you think you can show us an image of the famouse pattern lol
  • #110,167
  • Jan 8, 2009 5:22am Jan 8, 2009 5:22am
Quoting Bullfx
Oh, it means you go the reverse direction to the market and then have to cut loss?
But GU price is manipulated because rising while cutting rate and while EU and other pairs don't move.
Now I think GU is too overbought.
I simply sell when it goes up and buy when it goes down .....
  • #110,168
  • Jan 8, 2009 5:23am Jan 8, 2009 5:23am
Sure!

Quoting Shermenator
If its possible you think you can show us an image of the famouse pattern lol
Attached Image (click to enlarge)
Click to Enlarge Name: Devil.jpg Size: 74 KB
Ride the Bulls bearback!
  • #110,169
  • Jan 8, 2009 5:26am Jan 8, 2009 5:26am
Is that a BEAR or a BULL???? I can't tell


Quoting alcando
Sure!
  • #110,170
  • Jan 8, 2009 5:27am Jan 8, 2009 5:27am
Quoting alcando
Sure!
it still cracks me up
  • #110,171
  • Jan 8, 2009 5:28am Jan 8, 2009 5:28am
It has been a common pattern for cable, last seen mid Dec. I am not forecasting it tho. yet...

Quoting SeaPip
Is that a BEAR or a BULL???? I can't tell
Ride the Bulls bearback!
  • #110,172
  • Jan 8, 2009 5:38am Jan 8, 2009 5:38am
right on the daily 62 ema......
  • #110,173
  • Jan 8, 2009 5:39am Jan 8, 2009 5:39am
Quoting Abuawad
Here we are coming 1.5288 and will be breaking more up to 1.5429, don't forget the incoming bad news for US.
what a nice long from 1.5000
Closed @ 1.5320, good news for US. i'm out for today.
  • #110,174
  • Jan 8, 2009 5:44am Jan 8, 2009 5:44am
Quoting SeaPip
Is that a BEAR or a BULL???? I can't tell
it is a new pattern..called the Sabertooth pattern

now we may see the GU drop back down to 5288 until more news occurs..the rise to 5320 was an emotional rally...if it does rise in the next few hours..it will be because of the percieved undervalued GU
  • #110,175
  • Jan 8, 2009 5:47am Jan 8, 2009 5:47am
I s it time to short yet?
  • #110,176
  • Jan 8, 2009 5:50am Jan 8, 2009 5:50am
Quoting Abuawad
Closed @ 1.5320, good news for US. i'm out for today.
yup, the same story here
  • #110,177
  • Jan 8, 2009 5:51am Jan 8, 2009 5:51am
Quoting Komissar
I s it time to short yet?
It could be because we at the 261.8 Fib level and Daily Resistance level. Just waiting for the close of the hourly candle.
"The trend is your friend, until the end."
  • #110,178
  • Jan 8, 2009 5:54am Jan 8, 2009 5:54am
Quoting Komissar
I s it time to short yet?
no - it's not
  • #110,179
  • Jan 8, 2009 5:56am Jan 8, 2009 5:56am
My MT4 Alpari feed has stopped !!!!!!!!!!!!!

Anyone with similar problem?

And what do we do about it?
  • #110,180
  • Jan 8, 2009 5:57am Jan 8, 2009 5:57am
Quoting JammerJams
it is a new pattern..called the Sabertooth pattern

now we may see the GU hang around the current levels until more news occurs..the rise to 5320 is speculation on poor USA news...if it does rise in the next few hours..it will be because of the percieved undervalued GU

My question is...if this past climb we have experienced the past two weeks..it a retrace from the GU's massive drop...then..the past two days of 700 pips is included..

So...analyst are projecting drops to 4500 levels..that is what I want to catch...the long term trend...at least for the past months trend...

remember..we are still sloshing around the bottom levels the GU is not accustomed to be at....
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