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Cable Update (GBPUSD)

  • #136,541
  • Jun 10, 2009 7:37am Jun 10, 2009 7:37am
Quoting Reznik
Am also thinking too. But all indicators points SOUTH. So lets wait and see...
Well, All I can see is buying pressure on retracements. Can you post your indicators pointing south??
Hear the music before the song is over ...
  • #136,542
  • Jun 10, 2009 7:45am Jun 10, 2009 7:45am
Quoting GlobalMacro
Well, All I can see is buying pressure on retracements. Can you post your indicators pointing south??


SHsssssssssssssssssss GLOBAL. Our profit has to come from somewhere. Let them go south LOL.
You've got to be IN IT to WIN IT!
  • #136,543
  • Jun 10, 2009 7:49am Jun 10, 2009 7:49am
Here's another wavecount scenario. This means it could still go up to 1.6050 if it doesn't break 6348 soon.

I've moved my sl to lock in some profits.

Attached Image (click to enlarge)
Click to Enlarge Name: Cable 30m 10062009.jpg Size: 166 KB
  • #136,544
  • Jun 10, 2009 7:51am Jun 10, 2009 7:51am
Quoting Ifty
SHsssssssssssssssssss GLOBAL. Our profit has to come from somewhere. Let them go south LOL.
Hear the music before the song is over ...
  • #136,545
  • Jun 10, 2009 8:00am Jun 10, 2009 8:00am
Quoting Ifty
SHsssssssssssssssssss GLOBAL. Our profit has to come from somewhere. Let them go south LOL.
Going long now is 100% Gambling.
  • #136,546
  • Jun 10, 2009 8:05am Jun 10, 2009 8:05am
Quoting Ferick
Going long now is 100% Gambling.
End of the day we are all in the dark. You could be right though. I hate these undecisive times but its all part of the job.
You've got to be IN IT to WIN IT!
  • #136,547
  • Jun 10, 2009 8:06am Jun 10, 2009 8:06am
Quoting GlobalMacro
Well, All I can see is buying pressure on retracements. Can you post your indicators pointing south??
I can see doji on 4H and a bearish candle although there is another hour to go. Also shooting star on the daily (based on London closing).

The rest is Elliot wavecount and some trends, the breaking of which will coincide with pivot.

This is all I use.
  • #136,548
  • Jun 10, 2009 8:09am Jun 10, 2009 8:09am
Quoting 4cfx
I can see doji on 4H and a bearish candle although there is another hour to go. Also shooting star on the daily (based on London closing).

The rest is Elliot wavecount and some trends, the breaking of which will coincide with pivot.

This is all I use.
I agree if it breaks below 1.6317 expeditiously good place to sell...
Hear the music before the song is over ...
  • #136,549
  • Jun 10, 2009 8:14am Jun 10, 2009 8:14am
Quoting GlobalMacro
I agree if it breaks below 1.6317 expeditiously good place to sell...
That's really odd because just three posts higher you were gong ho about it going North.
  • #136,550
  • Jun 10, 2009 8:15am Jun 10, 2009 8:15am
Fed Reserve purchases $3.5 billion of government debt outright. Cumulative purchases up to $156.528 billion. Good news for the dollar. Perhaps that's why its going up.
  • #136,551
  • Jun 10, 2009 8:16am Jun 10, 2009 8:16am
Quoting Ferick
That's really odd because just three posts higher you were gong ho about it going North.
Maybe you should read the entire posts and not cherry pick it , alright
And post some chart analysis instead of just bugging other people!
Hear the music before the song is over ...
  • #136,552
  • Jun 10, 2009 8:23am Jun 10, 2009 8:23am
Long stopped out, should have noticed the bearish divergence on the 1 Hr. Oh well, win some, you lose some.

Ne

Quoting Nene
That is how I see it, Long with my T/P @ 1.6571 and stop at 1.6325
  • #136,553
  • Jun 10, 2009 8:23am Jun 10, 2009 8:23am
Quoting Ferick
Going long now is 100% Gambling.


Why?? When puts South!!
-MACD is indicating a negative Divergence.
-A Shooting star in the 1hr chart.
-Parbolic Star is SOUTH...
-RSI is at 39.11
  • #136,554
  • Jun 10, 2009 8:24am Jun 10, 2009 8:24am
Quoting Nene
Long stopped out, should have noticed the bearish divergence on the 1 Hr. Oh well, win some, you lose some.

Ne
Me too. However, I am long at 1.6300. SL at 1.6250 at present.
You've got to be IN IT to WIN IT!
  • #136,555
  • Jun 10, 2009 8:25am Jun 10, 2009 8:25am
Quoting Reznik
Am also thinking too. But all indicators points SOUTH. So lets wait and see...
Rez it's finally broken . Below 6216 is next target, being 38.2 fib retrace of recent move up.
  • #136,556
  • Jun 10, 2009 8:27am Jun 10, 2009 8:27am
Quoting 4cfx
Rez it's finally broken . Below 6216 is next target, being 38.2 fib retrace of recent move up.
HUH? spot price is 1.6330 now...
  • #136,557
  • Jun 10, 2009 8:28am Jun 10, 2009 8:28am
Quoting Ferick
That's really odd because just three posts higher you were gong ho about it going North.
It all depends on pa. The upside was there if it hadn't broken 6348, even though there were other indicators. Nothing is certain mate. And key is trade with the trend.
  • #136,558
  • Jun 10, 2009 8:30am Jun 10, 2009 8:30am
Quoting Ferick
Fed Reserve purchases $3.5 billion of government debt outright. Cumulative purchases up to $156.528 billion. Good news for the dollar. Perhaps that's why its going up.
How is that good news for the dollar?

I'm looking to go short but waiting for a little more confirmation.
  • #136,559
  • Jun 10, 2009 8:31am Jun 10, 2009 8:31am
Quoting HotPips
HUH? spot price is 1.6330 now...
It's a perfectly legitimate retracement target....I think. It may be even more.

I'm looking to hold this short to see if it will take us further south, although I will keep locking profits.
  • #136,560
  • Jun 10, 2009 8:32am Jun 10, 2009 8:32am
1.6317 is broken. But London session is over now so needs to be taken with a grain of salt. Sustained weakness below 1.6317 however opens the road to 1.6195
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Hear the music before the song is over ...
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