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Cable Update (GBPUSD)

  • #154,441
  • Aug 3, 2009 11:22am Aug 3, 2009 11:22am
Quoting wormboy
lol yea. after almost over a month of painful ranging, bulls are taking no prisoners. I got totally battered last week.
Na,na...dreaming about spending the weekend with the ladyboss and trophies got you probably distracted last week, bro......
Hear the music before the song is over ...
  • #154,442
  • Aug 3, 2009 11:22am Aug 3, 2009 11:22am
Makes me glad I left 70% of my net worth in GBP in the bank of england

Here comes 2.000 again !


Think I will buy some Boeing shares seeing as how Airbus must be crying in their garlic
  • #154,443
  • Aug 3, 2009 11:23am Aug 3, 2009 11:23am
Quoting Dillinger
If this keeps going, we could hit the 1.73317 50% monthly retracement this month. At which point, I'm mortgaging the house, backing up the truck and loading the biggest short I've ever placed in my life! LOL


It'll get there, but I think in the short interim, like I suggested earlier today, the valid shorts would begin at 1.70

Being conservative , 38 percent would be 1.6900

50 168.50 area

61 168.00 area

for today's entire move.

Although I don't expect it until Asia open--I think once 1.7 is hit it's going to do a little dance around it until then
--- Gone --- RIP 11/27/09
  • #154,444
  • Aug 3, 2009 11:23am Aug 3, 2009 11:23am
Quoting Dillinger
If this keeps going, we could hit the 1.73317 50% monthly retracement this month. At which point, I'm mortgaging the house, backing up the truck and loading the biggest short I've ever placed in my life! LOL
My 50% shows 1.7468...
  • #154,445
  • Aug 3, 2009 11:25am Aug 3, 2009 11:25am
daaamn, I'm so against USD devaluation, the oil is gonna go up like mad and I'll have 2 spend a lot moredriving my car.

Plus my account is in USD so I'll have 2 make money faster than the devaluation of the buck, but with this pace of devaluation there's no chance of @ least breaking even. My 3k account is gonna be worth only 30 quid soon without getting in a trade.
  • #154,446
  • Aug 3, 2009 11:26am Aug 3, 2009 11:26am
I m sure there are many traders out there want get profit for today volume..if it happen, tommorow we shall see the pound will get sell off..by the way

Who dont want to share the bank money
  • #154,447
  • Aug 3, 2009 11:26am Aug 3, 2009 11:26am
Quoting allserene
Makes me glad I left 70% of my net worth in GBP in the bank of england

Here comes 2.000 again !


Think I will buy some Boeing shares seeing as how Airbus must be crying in their garlic
2.0000?? No chance!
  • #154,448
  • Aug 3, 2009 11:27am Aug 3, 2009 11:27am
I suppose this is what the bulls felt like from around July 2008 huh...
Ghost Rider - WWTBMD?
  • #154,449
  • Aug 3, 2009 11:29am Aug 3, 2009 11:29am
As mentioned in post above, That 50% fib of the main 2.1162-1.3505 fall is in view as shown on screenshot below and as is shown there the area leading up to it is a previous swing hi then lo zone on this Monthly t/f.

The monthly t/f is still in a downtrend...Anyone thinking there might be some sellers there (lol) ??

G/L

http://i31.tinypic.com/ny6zrc.gif
ex member
  • #154,450
  • Aug 3, 2009 11:31am Aug 3, 2009 11:31am
What price is your 50% level showing? Wanna get the exact figure..

Quoting bbmac
As mentioned in post above, That 50% fib of the main 2.1162-1.3505 fall is in view as shown on screenshot below and as is shown there the area leading up to it is a previous swing hi then lo zone on this Monthly t/f.

The monthly t/f is still in a downtrend...Anyone thinking there might be some sellers there (lol) ??

G/L

http://i31.tinypic.com/ny6zrc.gif
  • #154,451
  • Aug 3, 2009 11:32am Aug 3, 2009 11:32am
Quoting Ipips
My 50% shows 1.7468...
Here's mine. There may be some fluctuation between brokers.

I have an account with MBT as well and their 50% is 1.73325
Attached Image (click to enlarge)
Click to Enlarge Name: gu monthly.gif Size: 15 KB
  • #154,452
  • Aug 3, 2009 11:34am Aug 3, 2009 11:34am
Quoting Ipips
What price is your 50% level showing? Wanna get the exact figure..
It's 1.7325 [give or take a few pips I guess.] 2.1162-1.3505 are the hi and lo on which the fib is drawn.

G/L
ex member
  • #154,453
  • Aug 3, 2009 11:35am Aug 3, 2009 11:35am
Quoting bbmac
As mentioned in post above, That 50% fib of the main 2.1162-1.3505 fall is in view as shown on screenshot below and as is shown there the area leading up to it is a previous swing hi then lo zone on this Monthly t/f.

The monthly t/f is still in a downtrend...Anyone thinking there might be some sellers there (lol) ??

G/L
Yes there are still have..by this friday we shall see it!
  • #154,454
  • Aug 3, 2009 11:36am Aug 3, 2009 11:36am
Quoting Dillinger
Here's mine. There may be some fluctuation between brokers.
Thanks mate~ Will be keenly watching that level.
  • #154,455
  • Aug 3, 2009 11:37am Aug 3, 2009 11:37am
Quoting bbmac
It's 1.7325 [give or take a few pips I guess.] 2.1162-1.3505 are the hi and lo on which the fib is drawn.

G/L
Thanks mate~ G/L too.
  • #154,456
  • Aug 3, 2009 11:37am Aug 3, 2009 11:37am
If it could close upside then target @ Fibo ret 50 Monthly... any idea?
http://i27.tinypic.com/2073h3r.jpg
http://www.forexfactory.com/%5BIMG%5....jpg%5B/IMG%5D
  • #154,457
  • Aug 3, 2009 11:39am Aug 3, 2009 11:39am
Quoting Ipips
2.0000?? No chance!
Depends on the time scale - if the credit crunch had not intervened we would be at 2.5000 today - we were heading that way fast

'Normal' was 2.1400 before all the flap so I wouldnt be surprised at 2.00 by the end of next year

All the pundits said investors would be scared off shares for a generation but look how quickly the fear disappears and the greed kicks in - we humans never learn, and betting on flawed human nature rather than human wisdom is always a winning trade
  • #154,458
  • Aug 3, 2009 11:40am Aug 3, 2009 11:40am
GU should retrace now when achived 1.6988 which is 161.8% fib lines. If not, it may rise until 1.7171 which is 261.18% fib lines
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #154,459
  • Aug 3, 2009 11:42am Aug 3, 2009 11:42am
Quoting IrishPips


It'll get there, but I think in the short interim, like I suggested earlier today, the valid shorts would begin at 1.70
I absolutely agree. 1.70 is the red line... my last TP target on the chart I posted.
  • #154,460
  • Aug 3, 2009 11:42am Aug 3, 2009 11:42am
Hi

So after 1 or 2 days of rising where the support might be? If it dive - how fare it might be? At which level the monthly support is?

LT
Quoting peaches
Just for the record and point of view ichimoku trader:

Welcome GU in weekly Bull land (if we close at this level)

Up for one or 2 days, then fall back to retest the weekly cloud for
proof support, then ranging.

On the daily pound index bulls has just defended there support (the cloud), so it dependes in the usd where to go.

But dow jones has just entered the weekly cloud, so there are good arguments for further falling usd.
Discomfort and profit often stand side by side
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