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Cable Update (GBPUSD)

  • #122,161
  • Feb 20, 2009 7:37am Feb 20, 2009 7:37am
  •  Sahil
  • | Joined Jan 2009 | Status: Options Trader - Commodities & FX | 24 Posts
AS i said earlier in my post, News was bound to be better for USD and i am short at 14305 and 14285. Just need to wait and watch but BEARS are capable of,
  • #122,162
  • Feb 20, 2009 7:41am Feb 20, 2009 7:41am
Would you care to explain??? I m not following it? Is it the H & S? So this will go down???



Quoting Cultured
Yeah, good point nAVIN, cheers.
  • #122,163
  • Feb 20, 2009 7:47am Feb 20, 2009 7:47am
Quoting SeaPip
Would you care to explain??? I m not following it? Is it the H & S? So this will go down???
Navin was showing that the areas highlighted in red have provided previous support in the past, and should be observed, as a bounce from these levels is possible.
  • #122,164
  • Feb 20, 2009 7:47am Feb 20, 2009 7:47am
Quoting SeaPip
Would you care to explain??? I m not following it? Is it the H & S? So this will go down???

price went to exactly where u would expect the price to go b4 encountering buyers....the question is are the bears able to close below the support so it can form resistance....if u dont understand these concepts then i hope your on a demo because yur not giving yourself a fair chance to make money
  • #122,165
  • Feb 20, 2009 7:48am Feb 20, 2009 7:48am
Quoting PipLand
Navin was showing that the areas highlighted in red have provided previous support in the past, and should be observed, as a bounce from these levels is possible.
absolutely
  • #122,166
  • Feb 20, 2009 7:50am Feb 20, 2009 7:50am
Quoting CableXpert
Hi guys,

woke up to green 100 pips hjow,s everyone on 'stop hunting' day?
congrats CE! pop
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  • #122,167
  • Feb 20, 2009 7:51am Feb 20, 2009 7:51am
bulls take control
  • #122,168
  • Feb 20, 2009 7:51am Feb 20, 2009 7:51am
Quoting Sahil
AS i said earlier in my post, News was bound to be better for USD and i am short at 14305 and 14285. Just need to wait and watch but BEARS are capable of,
yeah but as long as nothings changed then good news weakens USD
  • #122,169
  • Feb 20, 2009 7:52am Feb 20, 2009 7:52am
last hourly bar and current hourly bar are reversing hammers...
  • #122,170
  • Feb 20, 2009 7:55am Feb 20, 2009 7:55am
Quoting ragnakore
last hourly bar and current hourly bar are reversing hammers...
It could be "developing" into that but it hasnt finished just yet 6 more mins
  • #122,171
  • Feb 20, 2009 7:55am Feb 20, 2009 7:55am
Thanks for explaining. I missed your highlighted stuff. I thought you were trying to show a bigger pattern of some sort, which I look for most of the time. So I just skim at the pic and didn't see any pattern except perhap a H & S....therefore I ask. And NO, I am not in demo....far from it.


Quoting nAVIN2007
price went to exactly where u would expect the price to go b4 encountering buyers....the question is are the bears able to close below the support so it can form resistance....if u dont understand these concepts then i hope your on a demo because yur not giving yourself a fair chance to make money
  • #122,172
  • Feb 20, 2009 7:55am Feb 20, 2009 7:55am
it looks like it could go either way now...
  • #122,173
  • Feb 20, 2009 7:56am Feb 20, 2009 7:56am
Quoting PipLand
Navin was showing that the areas highlighted in red have provided previous support in the past, and should be observed, as a bounce from these levels is possible.
Yeap, it bounced and hit my BE+2. Now what?
Is it retracement before going further down?
Or, it will go up further after retracement?
I am thinking about downward according 1H. Maybe try another short later.
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  • #122,174
  • Feb 20, 2009 7:58am Feb 20, 2009 7:58am
Quoting SeaPip
Thanks for explaining. I missed your highlighted stuff. I thought you were trying to show a bigger pattern of some sort, which I look for most of the time. So I just skim at the pic and didn't see any pattern except perhap a H & S....therefore I ask. And NO, I am not in demo....far from it.
its fine bro! it looking very tricky right now huh
but the 1hr is forming a good signal for short still (me thinks)
  • #122,175
  • Feb 20, 2009 8:02am Feb 20, 2009 8:02am
  •  Sahil
  • | Joined Jan 2009 | Status: Options Trader - Commodities & FX | 24 Posts
Quoting PipLand
yeah but as long as nothings changed then good news weakens USD
HI, Can u explain if nothings changed because Good news support USD.
  • #122,176
  • Feb 20, 2009 8:02am Feb 20, 2009 8:02am
guys, correction 70% fibo finished, need to sell

target 1.3500
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  • #122,177
  • Feb 20, 2009 8:03am Feb 20, 2009 8:03am
Quoting nAVIN2007
its fine bro! it looking very tricky right now huh
but the 1hr is forming a good signal for short still (me thinks)
whatever you are feeling..the other traders are feeling as well..

I will let the 2nd hr candle to form....still showing a nice bearish view...

also waiting for market to open...few more minutes..its worth waiting for a more solid perspective...
  • #122,178
  • Feb 20, 2009 8:03am Feb 20, 2009 8:03am
Quoting nAVIN2007
its fine bro! it looking very tricky right now huh
but the 1hr is forming a good signal for short still (me thinks)
Yep still holding short here, im bearish bearish £ at the moment, crossing fingers for a breakdown of support altogether.

Footsie is collapsing, worlds coming to an end, etc, etc
  • #122,179
  • Feb 20, 2009 8:05am Feb 20, 2009 8:05am
Quoting PipLand
Yep still holding short here, im bearish bearish £ at the moment, crossing fingers for a breakdown of support altogether.

Footsie is collapsing, worlds coming to an end, etc, etc

im with u..its so sad and we live here
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  • #122,180
  • Feb 20, 2009 8:05am Feb 20, 2009 8:05am
Agree. Infact, I noticed this evening star forming and enter short at 4295 TP 4185 and SL just above PP at 4315.


Quoting nAVIN2007
its fine bro! it looking very tricky right now huh
but the 1hr is forming a good signal for short still (me thinks)
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