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Cable Update (GBPUSD)

  • #133,921
  • May 22, 2009 7:55am May 22, 2009 7:55am
Quoting Ifty
Personally i think the 1.60 mark will hit 100%. There seems to be such a bullish attitude that its inevitable. However, that will be the turning point at which it will probably plummet.

I am going to watch this thing until later next week before i get too trigger finger happy and start trading.
1.60 a week ago was totally unbelievable but today, totally, even for a short time. It is a Phyc point and I am sure there are lots of Sell orders in at 1.60. I know that I have one. :-)

I have also noticed that in normal trading, except for Mon to Wed this week, that the GBP will increase by 50 pips a day if it is an uptrend. So, yesterday, it closed at 1.5891 and went down to 1.5757 which I caught and am glad I got out at 1.5777. So today's top should be 50 pips higher than yesterday, which will be 1.5940.

Just my observation.
  • #133,922
  • May 22, 2009 7:56am May 22, 2009 7:56am
Well we got nothing clear now... just waiting...
  • #133,923
  • May 22, 2009 7:56am May 22, 2009 7:56am
hahaha hit first target simply 1.5894
  • #133,924
  • May 22, 2009 7:59am May 22, 2009 7:59am
Quoting Ifty
Personally i think the 1.60 mark will hit 100%. There seems to be such a bullish attitude that its inevitable. However, that will be the turning point at which it will probably plummet.

I am going to watch this thing until later next week before i get too trigger finger happy and start trading.
I think you are quite right. Prices at the moment are capped by channel resistance. But it's still bullish, although there's bearish divergence on the MACD, and very overbought RSI.

1.60 is phsychological resistance. 1.604 is the 50% fib retracement from 1.85 Nov 08 high. 1.6370 is the 38.2% fib from the 2.10 Sept high.

I'm waiting for 1.6040 before shorting.
  • #133,925
  • May 22, 2009 8:01am May 22, 2009 8:01am
Quoting thirtypips
1.60 a week ago was totally unbelievable but today, totally, even for a short time. It is a Phyc point and I am sure there are lots of Sell orders in at 1.60. I know that I have one. :-)

I have also noticed that in normal trading, except for Mon to Wed this week, that the GBP will increase by 50 pips a day if it is an uptrend. So, yesterday, it closed at 1.5891 and went down to 1.5757 which I caught and am glad I got out at 1.5777. So today's top should be 50 pips higher than yesterday, which will be 1.5940.

Just my observation.
Hmm, well many people expect GU to reach 1.6 before going down.. THen in that exact point there will be a massive short right?maybe next week we will finally get to it.
  • #133,926
  • May 22, 2009 8:02am May 22, 2009 8:02am
i add long @ 1.5880
  • #133,927
  • May 22, 2009 8:03am May 22, 2009 8:03am
simply hit second target 1.5868.... trade close... haha
  • #133,928
  • May 22, 2009 8:03am May 22, 2009 8:03am
Quoting 4cfx
I think you are quite right. Prices at the moment are capped by channel resistance. But it's still bullish, although there's bearish divergence on the MACD, and very overbought RSI.

1.60 is phsychological resistance. 1.604 is the 50% fib retracement from 1.85 Nov 08 high. 1.6370 is the 38.2% fib from the 2.10 Sept high.

I'm waiting for 1.6040 before shorting.
That's the set up I'm looking at too.
Doh! I didn't mean to do that.
  • #133,929
  • May 22, 2009 8:04am May 22, 2009 8:04am
Quoting Richalok
hahaha hit first target simply 1.5894

Very nice DROP. My charts have a Strength Exit signal on the H1 and H4.

This run down is normal from a NEW HIGH. I made my 150 pips this morning so not giving anything back at the end of the week.
  • #133,930
  • May 22, 2009 8:06am May 22, 2009 8:06am
Quoting deboooo2005
i add long @ 1.5880
careful bro.
http://www.forexfactory.com/showpost...postcount=1132

have a good one bro & enjoy the weekend. salam
Thank You
  • #133,931
  • May 22, 2009 8:09am May 22, 2009 8:09am
Copy of my H1 and H4, the Blue x is the Strenght Exit signal, indicating that the run down is finished or close to it, they are not 100%.
Attached Images
  • #133,932
  • May 22, 2009 8:11am May 22, 2009 8:11am
Quoting wormboy
careful bro.
http://www.forexfactory.com/showpost...postcount=1132

have a good one bro & enjoy the weekend. salam
Your a smart man with your stop... gonna take heaven and earth to take you out.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #133,933
  • May 22, 2009 8:13am May 22, 2009 8:13am
Quoting deboooo2005
i add long @ 1.5880
my long work good
  • #133,934
  • May 22, 2009 8:13am May 22, 2009 8:13am
here we are. let's go very very longgggg!
  • #133,935
  • May 22, 2009 8:15am May 22, 2009 8:15am
Quoting wormboy
careful bro.
http://www.forexfactory.com/showpost...postcount=1132

have a good one bro & enjoy the weekend. salam
bro what do you mean is buy are risky now?or what please post

thanks

Ub
  • #133,936
  • May 22, 2009 8:16am May 22, 2009 8:16am
Quoting wormboy
careful bro.
http://www.forexfactory.com/showpost...postcount=1132

have a good one bro & enjoy the weekend. salam

thank u my friend and brother .... i always minimize my risk MY SL Now @ BE

cable gain power to test 1.5981

let us see what will happen
  • #133,937
  • May 22, 2009 8:16am May 22, 2009 8:16am
Quoting thirtypips
Copy of my H1 and H4, the Blue x is the Strenght Exit signal, indicating that the run down is finished or close to it, they are not 100%.

Updated Charts of M5 and H1, following on from the Strength Exit indicator.
Attached Images
  • #133,938
  • May 22, 2009 8:17am May 22, 2009 8:17am
Quoting *Pipster*
That's the set up I'm looking at too.
I don't think it will get there today though. It will probably be next week. What do you think?
  • #133,939
  • May 22, 2009 8:21am May 22, 2009 8:21am
Quoting Albest
here we are. let's go very very longgggg!
Yes - lets swing for the fences - I stay long based on the 14smoothed RSI daily chart approaching 70 and the weekly's momentum.
  • #133,940
  • May 22, 2009 8:23am May 22, 2009 8:23am
Quoting I like steak
Yes - lets swing for the fences - I stay long based on the 14smoothed RSI daily chart approaching 70 and the weekly's momentum.

And there should be barrier options at 1.60
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