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Cable Update (GBPUSD)

  • #135,741
  • Jun 5, 2009 3:43am Jun 5, 2009 3:43am
Quoting gklp
cable is in oversold area, long from 1.6036 TP 1.62
But, anything to do with PPI??
  • #135,742
  • Jun 5, 2009 4:01am Jun 5, 2009 4:01am
Price will go down - 1h ADX is trending and on 15m thereīs multiple wicks - bulls are loosing preasure I think.
  • #135,743
  • Jun 5, 2009 4:05am Jun 5, 2009 4:05am
Cannot pass Daily S1 .6026
  • #135,744
  • Jun 5, 2009 4:07am Jun 5, 2009 4:07am
Quoting Exciter135
Cannot pass Daily S1 .6026
This long term fib is strong support!
  • #135,745
  • Jun 5, 2009 4:09am Jun 5, 2009 4:09am
Quoting Exciter135
Cannot pass Daily S1 .6026
What if it passes? Down further till when?
  • #135,746
  • Jun 5, 2009 4:10am Jun 5, 2009 4:10am
Quoting 4cfx
This long term fib is strong support!
Yes, cable already tested it couple of times.. still cannot breach..
  • #135,747
  • Jun 5, 2009 4:11am Jun 5, 2009 4:11am
wait for the 1-2-3-breakout pattern
TRADE FOR SWAP
  • #135,748
  • Jun 5, 2009 4:13am Jun 5, 2009 4:13am
Quoting Alado
What if it passes? Down further till when?
If it breaks, it will test 1.60. I doubt if it will go to 5950 today which is the next support. But if it does, then I then it will most defo retrace from that point.
  • #135,749
  • Jun 5, 2009 4:16am Jun 5, 2009 4:16am
Quoting 4cfx
If it breaks, it will test 1.60. I doubt if it will go to 5950 today which is the next support. But if it does, then I then it will most defo retrace from that point.
Anythings is always possible with forex, however, i am a little on the edge following reports of Gordon brown. Some say that by sunday lunch he will no longer be PM (?). I don't know. We have seen 2 huge drops in the last week or so and another would not be surprising.
You've got to be IN IT to WIN IT!
  • #135,750
  • Jun 5, 2009 4:17am Jun 5, 2009 4:17am
Quoting Alado
What if it passes? Down further till when?
.59
  • #135,751
  • Jun 5, 2009 4:17am Jun 5, 2009 4:17am
I see 1.57 today - call me mad, but I do.
TRADE FOR SWAP
  • #135,752
  • Jun 5, 2009 4:21am Jun 5, 2009 4:21am
Quoting cgldsmth
I see 1.57 today - call me mad, but I do.
wow.. very promising.. http://www.forexfactory.com/images/icons/icon10.gif
  • #135,753
  • Jun 5, 2009 4:24am Jun 5, 2009 4:24am
Quoting cgldsmth
I see 1.57 today - call me mad, but I do.
before it go there will it go up for correction??

Ub
  • #135,754
  • Jun 5, 2009 4:24am Jun 5, 2009 4:24am
Quoting Ifty
Anythings is always possible with forex, however, i am a little on the edge following reports of Gordon brown. Some say that by sunday lunch he will no longer be PM (?). I don't know. We have seen 2 huge drops in the last week or so and another would not be surprising.
I agree with you and with the bad news in UK economy, revision of GDP down, political instability, all we now need is a dose of bad data out of the US this pm to finish the cable off.

But technically, my chart says possible bottom at 1.60 and it's time to retrace. It'll be interesting trading today - a lot of wait and see.
  • #135,755
  • Jun 5, 2009 4:25am Jun 5, 2009 4:25am
Quoting cgldsmth
I see 1.57 today - call me mad, but I do.
half of my body agreed with you, another half would like to say, "just a little bit crazy"

but who knows.. this is forex
  • #135,756
  • Jun 5, 2009 4:52am Jun 5, 2009 4:52am
Personally I look to buy (maybe only for short term) around 1.5780 - 1.5815(1.5840) with first target 1.5960 .Good day all
  • #135,757
  • Jun 5, 2009 5:25am Jun 5, 2009 5:25am
Quoting davids
Hi Wormboy

I am long 1.6111 I know the Bias is done I could not resist taken off 2 at 1.6144 and have one soldier left it looks like it is going down but I am waiting for the 15M candle to close

I must tell you about this great trade on the 18th I went long at 1.5179 and closed on the 3rd of June 1.6515 Total of 4376 pips made on a 1336 pip trade I had 10 position open.

Have a look at a HS if price gets to 1.6655 on GU could be interesting

I trust you well mate making some great trades
Hello david,
sorry about the late reply, I am travelling upstate & just got to my hotel.
Great trade indeed brother, must have looked pretty on the balance sheet I was on the same trade, only from way lower 45xx levels and got off @ 57xx.
http://www.forexfactory.com/showpost...postcount=1054

I have to remind you to be careful going long tho, as there is absolutely no sign of this slowing down, from a technical point of view.
http://www.forexfactory.com/showpost...postcount=1232

Btw, bro regarding the H&S, you might want to pull up a 4h chart & have a look again

have a good one & good luck
Thank You
  • #135,758
  • Jun 5, 2009 5:33am Jun 5, 2009 5:33am
You guys were right - itīs going up and Iīm +26 pips
  • #135,759
  • Jun 5, 2009 5:44am Jun 5, 2009 5:44am
Quoting Thomling
You guys were right - itīs going up and Iīm +26 pips
Nice.. if it hold below 1.6100 i dont think it will continue up.. just my thought..
and btw 1.6090 is the lowest of cable drop last big drop...
  • #135,760
  • Jun 5, 2009 6:00am Jun 5, 2009 6:00am
Quoting gklp
cable is in oversold area, long from 1.6036 TP 1.62
Bravooo... still stick to your TP?? U have a very sharp analysis..
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