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Cable Update (GBPUSD)

  • #121,361
  • Feb 18, 2009 7:42am Feb 18, 2009 7:42am
Quoting AJspeed
If you read between the lines here you can get a very different scenario of the current situation. If you read between the lines you can actually see a Bullish Falling Wedge that the price has been respecting to the "T", for the exeption of 1 week when the price stayed below the wedge. Guys, .....This Wedge is still in play and I see long in the near future. The ensuing long wicks tell me that we may be in for 4-500 pips to the high side. Does anyone else see it?

AJ
Ofcourse. Drill down to 15/30min tf and notice that we are trading inside a perfect descending broadening formation, that is bullish as well. But, keep in mind that todays fall was a touch of the descending 4hr channels UTL @ 1.43. Something for you to think about Keep drawing those lines hehehe
  • #121,362
  • Feb 18, 2009 7:45am Feb 18, 2009 7:45am
Quoting nAVIN2007
What time frame are u looking at?
Hey Navin hows it going?

Whats your take on cable at the moment? I know your a longer term trader so would be interesting to see what you think.
  • #121,363
  • Feb 18, 2009 7:47am Feb 18, 2009 7:47am
i think looking the way down again
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  • #121,364
  • Feb 18, 2009 7:48am Feb 18, 2009 7:48am
Quoting CableXpert
good morning all,

my long got stopped

I am looking to short at 4175 for 70 pips. What do you guys think?
congrats CE!
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  • #121,365
  • Feb 18, 2009 7:49am Feb 18, 2009 7:49am
Quoting nAVIN2007
What time frame are u looking at?
H1
  • #121,366
  • Feb 18, 2009 8:01am Feb 18, 2009 8:01am
Quoting PipLand
Hey Navin hows it going?

Whats your take on cable at the moment? I know your a longer term trader so would be interesting to see what you think.
im fine bro, been a tough week, i held over the weekend and wish i didnt as a result at a loss, but its all good..small mistake not really taking account the news around right now

im think bullish....the downtrend was excellarated red channel, we broke out and appear to be in a wedge (bullish) we also at monthly resistance area 1.405 approx

i have to say im thinking up if anything, 1 hr appear to have bullish price action as well
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  • #121,367
  • Feb 18, 2009 8:08am Feb 18, 2009 8:08am
only just bullish as theres an attempt to break support 4 times and seem very strong and wedge is bullish (dailly)..i think ...lol
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  • #121,368
  • Feb 18, 2009 8:13am Feb 18, 2009 8:13am
....
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  • #121,369
  • Feb 18, 2009 8:24am Feb 18, 2009 8:24am
Quoting nAVIN2007
im fine bro, been a tough week, i held over the weekend and wish i didnt as a result at a loss, but its all good..small mistake not really taking account the news around right now

im think bullish....the downtrend was excellarated red channel, we broke out and appear to be in a wedge (bullish) we also at monthly resistance area 1.405 approx

i have to say im thinking up if anything, 1 hr appear to have bullish price action as well
Cheers for the charts Navin, sorry about your loss over the weekend. Id have to agree im bullish too at the moment, but not enough to take a position yet, so gonna keep watching for now!
  • #121,370
  • Feb 18, 2009 8:28am Feb 18, 2009 8:28am
Quoting sofia101
About this
Done yet by clear chart !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #121,371
  • Feb 18, 2009 8:32am Feb 18, 2009 8:32am
I am out of my short 45 pips
  • #121,372
  • Feb 18, 2009 8:35am Feb 18, 2009 8:35am
Quoting sofia101
I am out of my short 45 pips

Same here 47 pips
  • #121,373
  • Feb 18, 2009 8:36am Feb 18, 2009 8:36am
Quoting sofia101
I am out of my short 45 pips
Nice job !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #121,374
  • Feb 18, 2009 8:38am Feb 18, 2009 8:38am
Quoting sofia101
I am out of my short 45 pips
Very nice short for green pips
The market is always right, but it is not never wrong!!!
  • #121,375
  • Feb 18, 2009 8:41am Feb 18, 2009 8:41am
Quoting PipLand
Cheers for the charts Navin, sorry about your loss over the weekend. Id have to agree im bullish too at the moment, but not enough to take a position yet, so gonna keep watching for now!
yes i have to say its not a setup any1 can take without accepting a loss as its probable
  • #121,376
  • Feb 18, 2009 8:43am Feb 18, 2009 8:43am
short @ 4247.
Thank You
  • #121,377
  • Feb 18, 2009 8:43am Feb 18, 2009 8:43am
Quoting sofia101
I am out of my short 45 pips
can cable go more south?
  • #121,378
  • Feb 18, 2009 8:45am Feb 18, 2009 8:45am
Quoting Abuawad
i closed the 2nd one on 1.4185.
and now i'll wait to see what will happen with the fibo van around 1.4235~1.4245 then the uplimit @1.4255
before i take any other position...
  • #121,379
  • Feb 18, 2009 8:47am Feb 18, 2009 8:47am
Quoting leu02cz
can cable go more south?

Next support range for bottom shows @ 1.4179 on a 5 min chart here.

If fails run @ 1.4217, going to enter short and hold for bottom....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #121,380
  • Feb 18, 2009 8:47am Feb 18, 2009 8:47am
Dear Nezar

So,,,,do u think we will test 1.4040 today in US session ?
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