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Cable Update (GBPUSD)

  • #132,661
  • May 18, 2009 12:21am May 18, 2009 12:21am
i'm sorry another newbie question for sreeprakash,

Is it bullish? why r u doing long?thanks
  • #132,662
  • May 18, 2009 12:22am May 18, 2009 12:22am
Quoting yauming
Good day..
New week for trading now.. hehe..
How is your prediction of GU..??
http://www.forexfactory.com/images/icons/icon6.gif
downside to 4950/4890
  • #132,663
  • May 18, 2009 12:26am May 18, 2009 12:26am
hi jack, what is your planning today? Long when its around 1.49? its the support level right? or short around 1.5350 as its the resistance level?
  • #132,664
  • Edited 12:31am May 18, 2009 12:29am | Edited 12:31am
Quoting mloistianto
i'm sorry another newbie question for sreeprakash, Is it bullish? why r u doing long?thanks
Well, a newbie to another newbie...
I am seeing uptrend in 1 hour channel..

Its not bullish I think, but a short term bullish trend may happen...
Thanks...
ABCD..
  • #132,665
  • May 18, 2009 12:31am May 18, 2009 12:31am
Quoting Inzider
Hey dilmat!

When the "industry" have locked enough position at high level, they will release news that say: It's a bullish market...

When the cookie jar will be full of dump traders position who are bullish, they are going to stop everyone that's short like them first, and then they will crush everyone's on the down side.

At the other extreme, when move will be almost done, they are going to release a news that say how bearish is the market... Then they are going to fill the jar of cookies, for the next ride up....

They are the cookies...
thanks for response - one of the common wisdoms re. Forex is that the size of the market is such that it is not really susceptible to price manipulation on anything other than the smallest timeframe simply because the amounts needed to move the market in any given direction for any appreciable length of time is beyond even institutional reach - are you challenging that view? i am not arguing, by the way, just asking?!
  • #132,666
  • May 18, 2009 12:34am May 18, 2009 12:34am
Quoting zapper
The day trend is down... so, we might test sub 1.5s in the coming days and reverse above open just around the close of the week and might continue to go up further to continue the trend of the month...
There is really good support at the 1.5000 level. Not saying it won't break. If it doesn't break we can see range trading again for a little while. However I think if it breaks it will be a pretty good break. The next level to test is the 1.4770 area. If that breaks there is nothing untill the 1.4400 area. If 1.5000 is broken take the ride down because here is my theory ...

1.5000 is a natural barrier, however there is also good support there from prior action. This is also the basic area for the 25 EMA (very powerful indicator). Also the stochastics are showing an overbought area. The stochastic is not a sure bet (doesn't exist anyway, but the stochastic is not extremely accurate), however the 25 EMA is a very powerful tool and one the market follows. If it holds the market should move up again and trade in a range for a short while. If price breaks the 25 EMA (on the hour chart) take the ride because you should get a nice pop from it.

Of course the market really does what the hell it pleases, but you can read it and then take it from there.

I am really looking forward to this week. Best wishes to you all.
  • #132,667
  • May 18, 2009 12:37am May 18, 2009 12:37am
Quoting sreeprakash
Buying currently. First Target 1.5178.
Stepped out on 1.5155.
ABCD..
  • #132,668
  • May 18, 2009 12:46am May 18, 2009 12:46am
May hit 1.5218 in a few hours I think.
ABCD..
  • #132,669
  • May 18, 2009 12:57am May 18, 2009 12:57am
"Rightmove HPI" was decent last night, choking off bearish acceleration.
Bearish momentum dissipating fast, thus putting us back into neutral territory. Watching 1.5142 which is growing to a pretty solid support.
Attached Image
Hear the music before the song is over ...
  • #132,670
  • May 18, 2009 1:02am May 18, 2009 1:02am
Quoting sreeprakash
Stepped out on 1.5155.

too bad you did, i think you stepped out too early. im going long at least to 5180
  • #132,671
  • May 18, 2009 1:25am May 18, 2009 1:25am
Quoting JimmyF23
too bad you did, i think you stepped out too early. im going long at least to 5180
SL hit, got 40 pips...
Now looking again for long..
ABCD..
  • #132,672
  • May 18, 2009 1:28am May 18, 2009 1:28am
Quoting JimmyF23
too bad you did, i think you stepped out too early. im going long at least to 5180
Sure still hold your position? I'm still clear for this time..
  • #132,673
  • May 18, 2009 1:35am May 18, 2009 1:35am
Quoting JimmyF23
too bad you did, i think you stepped out too early. im going long at least to 5180
Na, dont close at 5180. If it get 5180, it go for 5300. Give a suitable SL.
ABCD..
  • #132,674
  • May 18, 2009 2:28am May 18, 2009 2:28am
Hi, this is my daily chart

Attached Image (click to enlarge)
Click to Enlarge Name: forex.GIF Size: 15 KB


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Gartley Patterns

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  • #132,675
  • May 18, 2009 2:31am May 18, 2009 2:31am
Hey there Erich. Good chart.
My daily chart is showing me bearish potential but I need further 1H confirmation for that and so far 1H is bullish. 1.5172 will be a resistance level as there is the 100 EMA there. Staying away from the pair for now. I will be looking for a setup in both directions but my heart is with the bears but the 1H charts need to become bearish for that.
  • #132,676
  • May 18, 2009 2:32am May 18, 2009 2:32am
hi all
Attached Image (click to enlarge)
Click to Enlarge Name: gh.gif Size: 53 KB
{Promotion Removed}
  • #132,677
  • May 18, 2009 2:54am May 18, 2009 2:54am
should i place entry to sell at 15200 ??? SL 15250 , TP 15100/15050
Thanks !
  • #132,678
  • May 18, 2009 2:58am May 18, 2009 2:58am
Are you in hurry banana?
ABCD..
  • #132,679
  • May 18, 2009 2:58am May 18, 2009 2:58am
short 5195
  • #132,680
  • May 18, 2009 2:59am May 18, 2009 2:59am
http://www.bloomberg.com/apps/news?p...U6Q&refer=home

BUY BUY BUY!!
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