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Cable Update (GBPUSD)

  • #126,841
  • Mar 17, 2009 8:19am Mar 17, 2009 8:19am
Quoting Abuawad
i hope by this week....
Thanks Cuz
  • #126,842
  • Mar 17, 2009 8:27am Mar 17, 2009 8:27am
Chart
Attached Image (click to enlarge)
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Money & Pain Respect the market, protect your capital, be patient
  • #126,843
  • Mar 17, 2009 8:27am Mar 17, 2009 8:27am
i dont feel right . . the bull is fighting right now.

what isthe best target for today? 1.38 or 1.37
  • #126,844
  • Mar 17, 2009 8:32am Mar 17, 2009 8:32am
Quoting toyboy tramp
Chart
I'm sorry i didn't try 3H chart as time frame....
  • #126,845
  • Mar 17, 2009 8:38am Mar 17, 2009 8:38am
On 1H chart, we have two head and shoulders , is thats correct
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  • #126,846
  • Mar 17, 2009 8:41am Mar 17, 2009 8:41am
Quoting Abuawad
On 1H chart, we have two head and shoulders , is thats correct
Yes, I see the same pic.
But I think the first (inverted) H&S already expired.
  • #126,847
  • Mar 17, 2009 8:51am Mar 17, 2009 8:51am
Cable left channel 1 and moving to channel 2
Attached Image (click to enlarge)
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  • #126,848
  • Mar 17, 2009 8:53am Mar 17, 2009 8:53am
Quoting Komissar
Yes, I see the same pic.
But I think the first (inverted) H&S already expired.
i wont call the second H&S, its more of an Hidden divergence which indicate that we might see the Bull taking over.
just my own thinking
  • #126,849
  • Mar 17, 2009 8:59am Mar 17, 2009 8:59am
Quoting Abuawad
Cable left channel 1 and moving to channel 2
that break out is more or less a fake break out from my own angle. i think the market will see the BULL taken over. whichever way it plays out im with both. holding long from 1.3963 with sl as +3
  • #126,850
  • Mar 17, 2009 9:11am Mar 17, 2009 9:11am
Upon completion of today's fall back candle, it fits into perfect chart formation for the bull run. Previous charts posted.

As I will be away for the next short while, I have added long @ 1.3973 and have a target to close @ 1.4983.

I am not shooting to have target filled today, or even by the end of the week, but I will stick with my original forecast of 1000 Pip play range from bottom of week to the top, and ultimate target as posted above.

Geez, I really hope I got this one right....

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #126,851
  • Mar 17, 2009 9:17am Mar 17, 2009 9:17am
Quoting Magix
Upon completion of today's fall back candle, it fits into perfect chart formation for the bull run. Previous charts posted.

As I will be away for the next short while, I have added long @ 1.3973 and have a target to close @ 1.4983.

I am not shooting to have target filled today, or even by the end of the week, but I will stick with my original forecast of 1000 Pip play range from bottom of week to the top, and ultimate target as posted above.

Geez, I really hope I got this one right....

  • #126,852
  • Mar 17, 2009 9:24am Mar 17, 2009 9:24am
hmmm . . but my bolinger bands say that there is a HandS (4H).
or may be im wrong

http://preview.shareapic.net/preview5/015467408.gif
  • #126,853
  • Mar 17, 2009 9:32am Mar 17, 2009 9:32am
Quoting Magix
Upon completion of today's fall back candle, it fits into perfect chart formation for the bull run. Previous charts posted.

As I will be away for the next short while, I have added long @ 1.3973 and have a target to close @ 1.4983.

I am not shooting to have target filled today, or even by the end of the week, but I will stick with my original forecast of 1000 Pip play range from bottom of week to the top, and ultimate target as posted above.

Geez, I really hope I got this one right....

3950 is strong support area and good place to go long from but I dont personally see it holding out as equites are in my opnion positioned for a fall
  • #126,854
  • Mar 17, 2009 9:32am Mar 17, 2009 9:32am
Hi abuwad where do you think the pound is going
  • #126,855
  • Mar 17, 2009 9:47am Mar 17, 2009 9:47am
Quoting PipLand
3950 is strong support area and good place to go long from but I dont personally see it holding out as equites are in my opnion positioned for a fall
They have been that way inclined for a while now, and I just get the feeling that all that is needed is the straw that will break the DOW's back.

Allegedly some profit taking took place over the early hours of the European session, but there's been no monumental shift.

As for the Cable itself, it looks like it's struggling for direction. I'm leaning towards a short term bull run back to 1.4100, given the relatively strong resistance that exists at 1.3980 and 1.3900 below that. But if either of those two should break, back down to 1.3650 she goes.
  • #126,856
  • Mar 17, 2009 9:56am Mar 17, 2009 9:56am
Quoting beejay
I AGREE, BUT 1.49 SEEMS TO HIGH. MAYBE 1.43
  • #126,857
  • Mar 17, 2009 10:17am Mar 17, 2009 10:17am
Quoting nedim75
I AGREE, BUT 1.49 SEEMS TO HIGH. MAYBE 1.43
I DON'T AGREE. I SEE IT WILL 1.393 - 1.39 FOR TODAY
tommorow will be more down
bullish have not reach the validty so bear has won
  • #126,858
  • Mar 17, 2009 10:18am Mar 17, 2009 10:18am
Quoting TradingWeels
They have been that way inclined for a while now, and I just get the feeling that all that is needed is the straw that will break the DOW's back.

Allegedly some profit taking took place over the early hours of the European session, but there's been no monumental shift.

As for the Cable itself, it looks like it's struggling for direction....
Yeah cable is well supported at 3950 but i feel the same way about the Dow it looks like its ready to tumble, possibly carving out at HS? If the dow comes down 3950 will break easy we then have 3880 and ater that the picture is no longer bullish at all for me until 3500- 3600 area.

On the other hand if the dow rallies cable could break out of its downtrend line. but I just dont see this happening yet
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  • #126,859
  • Mar 17, 2009 11:11am Mar 17, 2009 11:11am
i agreed, gp/us will be tumble tomorrow, until .38
  • #126,860
  • Mar 17, 2009 11:11am Mar 17, 2009 11:11am
Yes, spot on PipL.

I have similar expectations of a continuation of the down trend, and looking at the 1H & 4H it is still operating within both bear channels. If equity markets continue to be well supported however, I merely expect the cable to hover around the top range of these channels.
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