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Cable Update (GBPUSD)

  • #10,061
  • Apr 9, 2007 4:46pm Apr 9, 2007 4:46pm
Quoting pwegner
The 20EMA has crossed the 34EMA on 4 hr chart. How many feel we are in a down trend now and where do you see the bottom?
we have to break below 1.9547 for this to be a downtrend if that happens wait for a pullback then short
  • #10,062
  • Apr 9, 2007 4:47pm Apr 9, 2007 4:47pm
Divergence... plus stoch overbought.. gonna go to oversold...

Not really the right time to take a divergece trade... but when I got two or more things pointing down... I am game...
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  • #10,063
  • Apr 9, 2007 4:51pm Apr 9, 2007 4:51pm
Downtrend in what time frame ???

Here are some good rules for trend...

Plot 62 ema RED
200 sma WHITE
800 sma BLUE

ANYTIME the colors follow red, white, blue... trend is official !!! Red on top, trend is up. Red on bottom, trend is down
  • #10,064
  • Apr 9, 2007 4:55pm Apr 9, 2007 4:55pm
Quoting Tiki Trader
OK

Check price in a day or so !! I say at least to 1.9550... if not... I buy everyone dinner...

It is a rocket science method by the way...!!

Daily charts... heading for the 62 ema... if it doesn't touch.... I buy dinner !!
so you'll buy one dinner with what,ten forks?
  • #10,065
  • Apr 9, 2007 4:56pm Apr 9, 2007 4:56pm
Happy Meals for all !!!
  • #10,066
  • Apr 9, 2007 5:04pm Apr 9, 2007 5:04pm
Quoting cesarnc
Oh boy
You are definitely right to be skeptical, and yes indicators do not move the market, but it sees cable has a high probability of satisfying certain trends with long term EMA (I use 50). It is helpful to plot 4EMA and 13EMA as well to get a better picture on the maturity/steadiness of the movement.

I am betting on 1.9570 at least, barring strong news/US gets nuked/..etc
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #10,067
  • Apr 9, 2007 5:07pm Apr 9, 2007 5:07pm
Quoting Tiki Trader
Downtrend in what time frame ???

Here are some good rules for trend...

Plot 62 ema RED
200 sma WHITE
800 sma BLUE

ANYTIME the colors follow red, white, blue... trend is official !!! Red on top, trend is up. Red on bottom, trend is down
a down trend is lower highs and lower lows the daily chart shows the previous low at 1.9547 for this to be considered a down trend we need to make a lower low. if we fail to do this the uptrend may continue making higher highs above 1.9825
  • #10,068
  • Apr 9, 2007 5:17pm Apr 9, 2007 5:17pm
Quoting Plutonite
You are definitely right to be skeptical, and yes indicators do not move the market, but it sees cable has a high probability of satisfying certain trends with long term EMA (I use 50). It is helpful to plot 4EMA and 13EMA as well to get a better picture on the maturity/steadiness of the movement.

I am betting on 1.9570 at least, barring strong news/US gets nuked/..etc
I trade 250 EMA only, for expected support and resistance. All timeframes. The larger the timeframe, the stronger the S&R is expected.

When price gets there I trade accordingly. I just don't force statements that price will chase this or that EMA.

Sometimes we have to filter the posts to understand if the strong statements are based on something trustworthy or it's just the traders praying for that to happen, so they can get rid of a bad trade.
  • #10,069
  • Apr 9, 2007 5:57pm Apr 9, 2007 5:57pm
scalp short 1.9638
  • #10,070
  • Apr 9, 2007 6:06pm Apr 9, 2007 6:06pm
wats cable doing??? is this wat is called retracement???
any ideas ....will cable still test 9600 .....
just a newbie
thx
  • #10,071
  • Apr 9, 2007 6:10pm Apr 9, 2007 6:10pm
Quoting goodness
wats cable doing??? is this wat is called retracement???
any ideas ....will cable still test 9600 .....
just a newbie
thx
it's hunting steviet's stop-loss before continuing downward
  • #10,072
  • Apr 9, 2007 6:12pm Apr 9, 2007 6:12pm
YES !!!!!!
  • #10,073
  • Apr 9, 2007 6:16pm Apr 9, 2007 6:16pm
Sorry, I just can't believe this... Cable bounced off 9590 and it's up 60 pips ever since. How is that a bearish sign?

you guys just kill me... I'm on my longs here...
  • #10,074
  • Apr 9, 2007 6:20pm Apr 9, 2007 6:20pm
Just like 59fender says !! It's looking for steviets stop !!! Then it's gonna go down again !!! But I don't think it's got to Steviets stop yet !!!

Maybe 1.9660 first !!
  • #10,075
  • Apr 9, 2007 6:22pm Apr 9, 2007 6:22pm
Steviet's stop is 1.9669...

I say he pulls through !!!
  • #10,076
  • Apr 9, 2007 6:50pm Apr 9, 2007 6:50pm
OOOOOOOOOPs

Poor steviet !!!

1.9672
  • #10,077
  • Apr 9, 2007 6:57pm Apr 9, 2007 6:57pm
i guess u owe more than dinner mybe add lunch....cos cable s going all d way to 9700 without even lookin back
  • #10,078
  • Apr 9, 2007 7:06pm Apr 9, 2007 7:06pm
Quoting goodness
i guess u owe more than dinner mybe add lunch....cos cable s going all d way to 9700 without even lookin back
I disagree. This is just a knee jerk reaction over some news report. Overreaction, I might say. Cable does not behave this way. I'm short at 9674.
  • #10,079
  • Apr 9, 2007 7:09pm Apr 9, 2007 7:09pm
You are jumping the gun !!!

Let us see by Wednsday !!! Maybe even Thursday

We are talking daily charts here...

Short since 1.9760
  • #10,080
  • Apr 9, 2007 7:11pm Apr 9, 2007 7:11pm
21:55 This dollar move lower looks like it could also be related to the China news in regards to the US pushing them on WTO matters.

bloomberg.com has the story

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