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Cable Update (GBPUSD)

  • #130,881
  • May 1, 2009 9:56am May 1, 2009 9:56am
Quoting GlobalMacro
Hi everybody,

Cable is showing signs of weakness. targeting 1.4771-4800 area
from here.
Hallo Kamerad
  • #130,882
  • May 1, 2009 10:04am May 1, 2009 10:04am
Quoting Heilpraktike
Hallo Kamerad
Hi Heilpraktike
Hear the music before the song is over ...
  • #130,883
  • May 1, 2009 10:15am May 1, 2009 10:15am
im doing short now
- Always pray on your trading - God know the best for everyone
  • #130,884
  • May 1, 2009 10:26am May 1, 2009 10:26am
i doubt if there will be any up move past 4940. time to sell
  • #130,885
  • May 1, 2009 10:45am May 1, 2009 10:45am
around 1.4865. Looking for close of H1 below this before I short again
  • #130,886
  • May 1, 2009 10:50am May 1, 2009 10:50am
Not much more action on the board tonight.... Cable run up meet by trend line resistence... long aborted at the top of the trend line...
Attached Image (click to enlarge)
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Veni, Vidi, Vici (We came, we saw, we conquered)
  • #130,887
  • May 1, 2009 10:57am May 1, 2009 10:57am
I went short @1.4877 hoping to catch 300 pips
  • #130,888
  • May 1, 2009 11:03am May 1, 2009 11:03am
Quoting tomasz
I went short @1.4877 hoping to catch 300 pips


possible?????
  • #130,889
  • May 1, 2009 11:20am May 1, 2009 11:20am
its up again..
and is it an uptrend pattern?
- Always pray on your trading - God know the best for everyone
  • #130,890
  • May 1, 2009 11:29am May 1, 2009 11:29am
Quoting kingindian
its up again..
and is it an uptrend pattern?
Risk reward, theres plenty of ressitence running up esp 1.5000, tonight??? Highly unlikely..... Look for cable to give back rather than run up.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #130,891
  • May 1, 2009 11:38am May 1, 2009 11:38am
Quoting Bull_Bear
Risk reward, theres plenty of ressitence running up esp 1.5000, tonight??? Highly unlikely..... Look for cable to give back rather than run up.
im still targetting down
thanks for the infos
- Always pray on your trading - God know the best for everyone
  • #130,892
  • May 1, 2009 11:38am May 1, 2009 11:38am
Quoting tomaz55
i see the trend is UP for now. had i listened to you i wouldnt have got out at 4900 for +100 pips. flat for now
Was bullish since 1.45, after +400 pips it's too risky to go long. Shorts will be more rewarding from these levels. Especially over 49XX
  • #130,893
  • May 1, 2009 12:05pm May 1, 2009 12:05pm
Quoting Bull_Bear
Risk reward, theres plenty of ressitence running up esp 1.5000, tonight??? Highly unlikely..... Look for cable to give back rather than run up.
i wish it will reach on 4950-1.500 so it will b great and we will ride short from there let see what happens i am out from my long nd shorts and waiting for another good entry timing will enter in market later today before closing of market otherwise on monday

Ub
  • #130,894
  • May 1, 2009 12:22pm May 1, 2009 12:22pm
Quoting ubaidahsan
i wish it will reach on 4950-1.500 so it will b great and we will ride short from there let see what happens i am out from my long nd shorts and waiting for another good entry timing will enter in market later today before closing of market otherwise on monday

Ub
Ub, I don't see any reason for the falling trend (refer previous post) to be broken tonight. 1.4950 - 1.5000 will break the trend line which than changes to long. If you want to short look for 1.4900 - 1.4920, which puts you close to the top of the trend line and your SL would be than todays high.

Good Luck mate.... I'm off holding shorts
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #130,895
  • May 1, 2009 12:40pm May 1, 2009 12:40pm
still not falling down
about 5 times going from
arround 4889-4910
------------------------
- Always pray on your trading - God know the best for everyone
  • #130,896
  • May 1, 2009 2:11pm May 1, 2009 2:11pm
Price has been holding rock solid for such a long time and also tested resistance several times. The resistance seems very strong... There is a possibility for the price to be in a range like down, up, down and up on the final week of the month...
  • #130,897
  • May 1, 2009 3:44pm May 1, 2009 3:44pm
Actually, this should be an easy short from here - I do think there will be a gap down Sunday night.
  • #130,898
  • May 1, 2009 5:03pm May 1, 2009 5:03pm
If you look at the bigger picture - I.e. Weekly & daily, you can see that the currently momentum is to the upside.
  • #130,899
  • May 2, 2009 5:18am May 2, 2009 5:18am
I agree that in the medium term to long term this might be bullish. But there is not enough momentum and in the short term I expect this to fall to 1.47 or even lower. Purely my technical opinion based on price action.

Attached Image


You can see divergence building here short term and I don't even think 1.5 will be tested for some time.

I'm looking for a good reason to be proved wrong.
Gone to a better place
  • #130,900
  • May 3, 2009 6:20am May 3, 2009 6:20am
I think ,there are two level of prev high that cable need to achieved before it start going down..
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