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Cable Update (GBPUSD)

  • #123,901
  • Feb 27, 2009 2:55am Feb 27, 2009 2:55am
Quoting alcando
Hi Matt
Cable quite often gives a small bounce does not always react to the 00. Best thing to do is look to see if the 00 has been respected in the recent past.

Statistics from a study I read are that
11% of firm's S&R levels end in 00
19% end in 00 and 50
70% end in 0
most importantly... 79% of their previous s&R levels are continued to the following day

Best spotted on the H1
I'd love to read the study you refer to. Do you have it or a link to it?
The trend is not your friend, it's your master.
  • #123,902
  • Feb 27, 2009 2:58am Feb 27, 2009 2:58am
Lloyds unveils £10.8 billion HBOS loss 7:48am GMT

Lloyds confirms it suffered huge losses in 2008 as the bank continues talks over putting billions of pounds of assets into a government-backed insurance scheme.




The only way is down.......
  • #123,903
  • Feb 27, 2009 2:59am Feb 27, 2009 2:59am
Anyone think will finally break 1.4150?
  • #123,904
  • Feb 27, 2009 3:10am Feb 27, 2009 3:10am
Lol, that was a massive candle. Dive!
Thank You
  • #123,905
  • Feb 27, 2009 3:13am Feb 27, 2009 3:13am
Quoting wormboy
Lol, that was a massive candle. Dive!
that was just a hunt for our long profits, now long life GU
ROBOT FOREX
  • #123,906
  • Feb 27, 2009 3:17am Feb 27, 2009 3:17am
im not trading this today, canceled my position yesterday, i dont want this to go lower....

need to be carefull here
Attached Image (click to enlarge)
Click to Enlarge Name: results.gif Size: 31 KB
  • #123,907
  • Feb 27, 2009 3:17am Feb 27, 2009 3:17am
Quoting Forbes55
that was just a hunt for our long profits, now long life GU
my speculation..i have to wait till the next 4hr candle to start, before i can take any trade.

just my idea
  • #123,908
  • Feb 27, 2009 3:17am Feb 27, 2009 3:17am
gOOD morning all,
Just want to say hi to all in this session. Am long. Based on chart parterns/candles. Enjoy trading.
  • #123,909
  • Feb 27, 2009 3:20am Feb 27, 2009 3:20am
looking like a quite large descending triangle there
  • #123,910
  • Feb 27, 2009 3:25am Feb 27, 2009 3:25am
Sure. A bit of a technical study but quite interesting. Certainly backs the use of S&R as a tool.


Quoting Cultured
I'd love to read the study you refer to. Do you have it or a link to it?
Attached File(s)
File Type: pdf s r tech analysis fx by the fed.pdf   127 KB | 459 downloads
Ride the Bulls bearback!
  • #123,911
  • Feb 27, 2009 3:26am Feb 27, 2009 3:26am
Thanks mate
The trend is not your friend, it's your master.
  • #123,912
  • Feb 27, 2009 3:26am Feb 27, 2009 3:26am
Quoting ezodisy
looking like a quite large descending triangle there
if it drops again..it she will be too hut to catch..that is why it is called ..CABLE..
  • #123,913
  • Feb 27, 2009 3:27am Feb 27, 2009 3:27am
30 minute chart candle is developing into a piercing formation which will probably lead to bullish outside bar on 1hr...this can turn around quite easily

people short need to be carefull...my 2 pips advise
  • #123,914
  • Feb 27, 2009 3:29am Feb 27, 2009 3:29am
Quoting alfamichi
if it drops again..it she will be too hut to catch..that is why it is called ..CABLE..
right now I don't see that happening today -- if anything going up to that descending tl and then back down on Monday and breaking this bottom perhaps
  • #123,915
  • Feb 27, 2009 3:29am Feb 27, 2009 3:29am
Quoting Forbes55
that was just a hunt for our long profits, now long life GU
Safe hunting my friend. Just make sure your hands are not filled with blood
Good luck with your trade.
Thank You
  • #123,916
  • Edited 3:47am Feb 27, 2009 3:31am | Edited 3:47am
this will test 1.4250 ....i feel
oh crap the bulls are dying
  • #123,917
  • Feb 27, 2009 3:41am Feb 27, 2009 3:41am
get ready for 2nd buy at level 4160 if touch it again (the 1st I already closed with some profit)
ROBOT FOREX
  • #123,918
  • Feb 27, 2009 3:43am Feb 27, 2009 3:43am
Quoting nAVIN2007
im not trading this today, canceled my position yesterday, i dont want this to go lower....

need to be carefull here
What is that pile of shapes doing on your chart nAVIN?
  • #123,919
  • Feb 27, 2009 3:46am Feb 27, 2009 3:46am
Let me guess, he is bailing as his yacht sinks...

Quoting belekas
What is that pile of shapes doing on your chart nAVIN?
Ride the Bulls bearback!
  • #123,920
  • Feb 27, 2009 3:52am Feb 27, 2009 3:52am
Hi All

I buy the cable at 1.4388 and 1.4200, and know I do not know what I have to do.

So any advice??????????

Thanks
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