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Cable Update (GBPUSD)

  • #129,001
  • Apr 6, 2009 1:05pm Apr 6, 2009 1:05pm
Quoting ubaidahsan
You have also no idea where it can go??right?

Ub
NOW. no, it can go down or up.
cable between two line here, top line the daily H&S nick line. and the bottom line the H&S right shoulder support.
one have to be broken to see after that where it can go to...
  • #129,002
  • Apr 6, 2009 1:12pm Apr 6, 2009 1:12pm
Quoting ubaidahsan
You have also no idea where it can go??right?

Ub
Nobody does. Anyone who says they know where it's heading is full of bs. It's all educated guess. Abu shows you the inverted h&s. I will show you the possible h&s developing on the hourly. No point in positioning for trades atm.
The bias is now down. But as you've prolly realised, many who had called for tops for cable since last friday got whooped. So who am I to say the bias is for certain yea?
Trade sensibly my friend. Good luck
Thank You
  • #129,003
  • Apr 6, 2009 2:04pm Apr 6, 2009 2:04pm
Daily Chart
Attached Image
"The trend is your friend, until the end."
  • #129,004
  • Apr 6, 2009 2:04pm Apr 6, 2009 2:04pm
Quoting wormboy
Nobody does. Anyone who says they know where it's heading is full of bs. It's all educated guess. Abu shows you the inverted h&s. I will show you the possible h&s developing on the hourly. No point in positioning for trades atm.
The bias is now down. But as you've prolly realised, many who had called for tops for cable since last friday got whooped. So who am I to say the bias is for certain yea?
Trade sensibly my friend. Good luck
nice mate . . . i was still afraid to go short. maybe tuesday or wednesday is good to short.
  • #129,005
  • Apr 6, 2009 2:56pm Apr 6, 2009 2:56pm
Quoting TerpFan2
I know it's a stretch...

But i'm hoping my million man...
scribbling w/a pen in my truck math is
right!

I'm Chiseling a bit out up North" a .40 (38.2)
retrace to @least the 1.4775 (1/4's) would be great,
Before back down,
We'll see, -a weak dow ain't helping the 'cause

Jeff !
hey man

yes a little retrace now and then down i hope... target is 1.4546 im in green from 1.4875....

nice to see u again
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 10 KB
When life gives you lemons, make lemonade
  • #129,006
  • Apr 6, 2009 3:00pm Apr 6, 2009 3:00pm
Yes, small retrace.

Im short from 1.4928, and looking for at least 1.45xxx.

Took profits earlier, now just running a 10k lot.
  • #129,007
  • Apr 6, 2009 3:53pm Apr 6, 2009 3:53pm
No matter what come may, my bias is long since the failure at 1.4110.
  • #129,008
  • Apr 6, 2009 3:54pm Apr 6, 2009 3:54pm
I am just an amateur, but I thing it is still going to go up much more. Its maybe going to touch the trend line on the daily but the up,up,up,up!
By God's Grace!
  • #129,009
  • Apr 6, 2009 4:50pm Apr 6, 2009 4:50pm
Yeah MichO,

I love it how a chart comes together...
1.47738 w/MB Was as High as she could climb!
That's about as close to the retrace 'coulda called! !

-Thanks for the Target point MichO.
I'm already short... & Looking for A S I A,
to drive her into the D I R T!

We shall see...
Thanks buddy, on 'drive home from work,
1.4875... sweet! Great job buddy!
Have a great one,

Jeff !

Quoting micho
hey man

yes a little retrace now and then down i hope... target is 1.4546 im in green from 1.4875....

nice to see u again
I will work to Objectively Identify my Edges
  • #129,010
  • Apr 6, 2009 5:00pm Apr 6, 2009 5:00pm
Keep the faith on the retrace......
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #129,011
  • Apr 6, 2009 5:12pm Apr 6, 2009 5:12pm
Quoting dragontra
I am just an amateur, but I thing it is still going to go up much more. Its maybe going to touch the trend line on the daily but the up,up,up,up!
Yes, you are an amateur.
  • #129,012
  • Apr 6, 2009 5:15pm Apr 6, 2009 5:15pm
Quoting traderboy877
Yes, small retrace.

Im short from 1.4928, and looking for at least 1.45xxx.

Took profits earlier, now just running a 10k lot.
I'm short to 1.4660 but should test low 1.45's even 1.44's during this upcoming leg down.
  • #129,013
  • Apr 6, 2009 5:18pm Apr 6, 2009 5:18pm
I am Bull...

It did it, -it's done,
"Finish, or Finito" baby!

Now back I am, on the bandwagon,
for the 'weeks retrace to the downside!
(Look at Quec's post on AuslancO's Thread)...
We're in a 3 wave correction down.

My call is DOWN, to @least 1.4599
Though i like MichO's & other's numbers better!

-Best of Luck buddy,
She will return north @some point,
but she's gotta come on down a tad...
Thanks,

Jeff !
I will work to Objectively Identify my Edges
  • #129,014
  • Apr 6, 2009 5:21pm Apr 6, 2009 5:21pm
Yeah, Bull Bear...

Check it out...
Head & Shoulders being developed to the downside,
"Don't fight it LukE"...!
The Downward Darkside is within you! !
Capitalize My Man,
Good input Seaward...!

Quoting Seaward22
I'm short to 1.4660 but should test low 1.45's even 1.44's during this upcoming leg down.
I will work to Objectively Identify my Edges
  • #129,015
  • Apr 6, 2009 5:33pm Apr 6, 2009 5:33pm
Quoting TerpFan2
Yeah MichO,

I love it how a chart comes together...
1.47738 w/MB Was as High as she could climb!
That's about as close to the retrace 'coulda called! !

-Thanks for the Target point MichO.
I'm already short... & Looking for A S I A,
to drive her into the D I R T!

We shall see...
Thanks buddy, on 'drive home from work,
1.4875... sweet! Great job buddy!
Have a great one,

Jeff !
hehehe
drive safe
When life gives you lemons, make lemonade
  • #129,016
  • Apr 6, 2009 5:50pm Apr 6, 2009 5:50pm
The retracement we are looking for may be shallow. The projection on this flag is about 280 pips. About 1.4440 (61.8 fib as well).

Daily 21 at 4470 and 55 ema at 4430. My target on this trade will be 4500 even and then wait to see what happens from there. Maybe take out 4100 and be medium term short again.
Attached Image (click to enlarge)
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  • #129,017
  • Apr 6, 2009 5:55pm Apr 6, 2009 5:55pm
Quoting jack.canadia
The retracement we are looking for may be shallow. The projection on this flag is about 280 pips. About 1.4440 (61.8 fib as well)
1.4440 is just about a perfect target.
  • #129,018
  • Apr 6, 2009 6:11pm Apr 6, 2009 6:11pm
Quoting Seaward22
1.4440 is just about a perfect target.
I like to be safe during these times .. the extra 60 pips I could have made are no match for the potential 200+...


But yes, I like when many of us see similar things on our charts and propose similar targets.
  • #129,019
  • Apr 6, 2009 6:36pm Apr 6, 2009 6:36pm
In at 1.4722, covered now at +5 ... Hope some of you caught that.
  • #129,020
  • Apr 6, 2009 6:48pm Apr 6, 2009 6:48pm
Quoting jack.canadia
In at 1.4722, covered now at +5 ... Hope some of you caught that.
good shorttttt i missed it i just see it went down suddenly and i missed but if u posted here so i will enter too i was thinking to in but when i tried to in it went down crazily huh missed it ..can u tell me what is next resistance or support level from where market can reverse or could go more down?

thanks in advance

Ub
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