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Cable Update (GBPUSD)

  • #122,181
  • Feb 20, 2009 8:07am Feb 20, 2009 8:07am
Quoting SeaPip
Agree. Infact, I noticed this evening star forming and enter short at 4295 TP 4185 and SL just above PP at 4315.
yes it was that formation which helped me to take..and 4hr long wick can only help
  • #122,182
  • Feb 20, 2009 8:14am Feb 20, 2009 8:14am
Quoting nAVIN2007
im with u..its so sad and we live here

Yeah, it is a shame but on the brightside when we do come out of this mess there will be more opportunites especially for the newer generation. Im just glad I dont have any more shares worth worrying about lol!
  • #122,183
  • Feb 20, 2009 8:19am Feb 20, 2009 8:19am
I'm looking at the mess going and I really don't see any country that's really able to avoid this crisis.
  • #122,184
  • Feb 20, 2009 8:21am Feb 20, 2009 8:21am
Support is no more
  • #122,185
  • Feb 20, 2009 8:22am Feb 20, 2009 8:22am
beautifuk .. hope she will break 1.4050 . .

then i will short with all my strength.
  • #122,186
  • Feb 20, 2009 8:22am Feb 20, 2009 8:22am
Quoting kalparker
I'm looking at the mess going and I really don't see any country that's really able to avoid this crisis.
Yeah exactly, were all in the same boat really, everyones assuming US will come out on top first but who knows eh?
  • #122,187
  • Feb 20, 2009 8:24am Feb 20, 2009 8:24am
Quoting Benjie
Support is no more

For now, we still have strong support between 4220 - 4050.

Below 4000 I see 3500
  • #122,188
  • Feb 20, 2009 8:25am Feb 20, 2009 8:25am
Quoting Benjie
Support is no more
What support were you talking about? I see support at 4150/60...
  • #122,189
  • Feb 20, 2009 8:31am Feb 20, 2009 8:31am
Just my observation on the daily chart

http://i42.tinypic.com/16ladzo.jpg



Quoting SeaPip
Agree. Infact, I noticed this evening star forming and enter short at 4295 TP 4185 and SL just above PP at 4315.
  • #122,190
  • Feb 20, 2009 8:33am Feb 20, 2009 8:33am
London session rallied off S1/M1 pivots and as expected it ended its rally at R1/M3 pivots. I see us down still. If we can clear 4100/60 we can remain bearish.

Watch out for a low that is higher than 4150/60. If we then make a high above 4350/60, we may have the first signs of a bullish turnaround.

Plus, if you look back, the theme has been that new yokr sells us down and london buys us back up. At least for a few days.

Good luck today everyone.
  • #122,191
  • Feb 20, 2009 8:35am Feb 20, 2009 8:35am
Quoting jack.canadia
What support were you talking about? I see support at 4150/60...
4245 ???
  • #122,192
  • Feb 20, 2009 8:37am Feb 20, 2009 8:37am
DOW has opened lower already. Dollar index is slowly ceeping up.
  • #122,193
  • Feb 20, 2009 8:38am Feb 20, 2009 8:38am
Quoting Benjie
4245 ???
I see how you got that. It touched twice on the way up, the second time being higher than the first. This last touch was lower than both. Its not that strong and on the next touch price may just hesitate and ignore the level.
  • #122,194
  • Feb 20, 2009 8:45am Feb 20, 2009 8:45am
Quoting jack.canadia
I see how you got that. It touched twice on the way up, the second time being higher than the first. This last touch was lower than both. Its not that strong and on the next touch price may just hesitate and ignore the level.
it bounced off
  • #122,195
  • Feb 20, 2009 8:45am Feb 20, 2009 8:45am
Quoting SeaPip
Just my observation on the daily chart

http://i42.tinypic.com/16ladzo.jpg
Hello Seapip

we have 2 supports to work through if we are to get through...
4120 where previous spikes touched but reeled up..and the lower trend line... ~ 4080

just a heads up..

another possibility...is that we get stuck in a 50 pip sideways channel...
Attached Image (click to enlarge)
Click to Enlarge Name: Image19.jpg Size: 89 KB
  • #122,196
  • Feb 20, 2009 8:47am Feb 20, 2009 8:47am
Oh Abu..were are THOU?...Could this be your 1st missionary journey?..1.4255
  • #122,197
  • Feb 20, 2009 8:48am Feb 20, 2009 8:48am
Quoting Benjie
it bounced off
It was also a 61.8 fib level. I'm just saying, if we go back down there, there is a good chance it wont get respected too long. You can tell how strong a level is. Fewer touches and harder rallies from that level = very strong.
  • #122,198
  • Feb 20, 2009 8:50am Feb 20, 2009 8:50am
Back to daily pivot ! Now morning star again at H1 but bullish !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #122,199
  • Feb 20, 2009 8:52am Feb 20, 2009 8:52am
  •  Sahil
  • | Joined Jan 2009 | Status: Options Trader - Commodities & FX | 24 Posts
GBP may be bouncing to test the Pivot point at 1.4314. We should see another short selling opportunity soon.
Came out of trade. Took +38 Pips

Good Luck
  • #122,200
  • Feb 20, 2009 8:53am Feb 20, 2009 8:53am
added a little to my short now
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