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Cable Update (GBPUSD)

  • #177,461
  • Oct 19, 2009 11:58am Oct 19, 2009 11:58am
http://http://www.rttnews.com/Articl...conomic%20News

Any clue
GELORE
  • #177,462
  • Oct 19, 2009 11:58am Oct 19, 2009 11:58am
Quoting egkid
Sell 1.6416 no more up move
Good luck, fibo fan line 2.1143 - 1.3500 is probably enough strong to push cable down !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #177,463
  • Oct 19, 2009 11:59am Oct 19, 2009 11:59am
Quoting nAVIN2007
yO T..can ask what u find bearish about cable..cause im struggling brother..i never seen it more bullish


im not in a trade cause im studying price action..i will forecast 1.67 end of week based on price action, if dillian is watching bring it on
Good day to you,

This is all I can offer - daily chart ( although we have a bullish engulfing candle forming) The UTL is all I have. The rest are indicators showing, but this will not be of any value to you.

This is a very high risk entry....

Hope this assists

Regards
Attached Image (click to enlarge)
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  • #177,464
  • Oct 19, 2009 12:00pm Oct 19, 2009 12:00pm
Quoting grashid
i hope u close ur last week entry back to ur entry point ....perhaps this is a fresh short entry from u....
I have sell from 1.6330 early today
and still have 1.6245 short since last week
And now sell 1.6416
my sl 1.6445 will close half if we reach there and give up@ 1.6485
  • #177,465
  • Oct 19, 2009 12:04pm Oct 19, 2009 12:04pm
Quoting TauTrader
Good day to you,

This is all I can offer - daily chart ( although we have a bullish engulfing candle forming) The UTL is all I have. The rest are indicators showing, but this will not be of any value to you.

This is a very high risk entry....

Hope this assists

Regards
Yes i was thinking the same thing buddy..best of luck with it
thanks man!
  • #177,466
  • Oct 19, 2009 12:07pm Oct 19, 2009 12:07pm
Quoting pipul8r
cool P&F
mind sharing the indi ?
I tried one not long ago and it froze everything up
I guess it was code intensive
e
It happened to me too, found that it work only with demo IBFX platform, try it.
  • #177,467
  • Oct 19, 2009 12:10pm Oct 19, 2009 12:10pm
Quoting nAVIN2007
Yes i was thinking the same thing buddy..best of luck with it
thanks man!
Hey dear bro
How r u today?Hope all fine
  • #177,468
  • Oct 19, 2009 12:14pm Oct 19, 2009 12:14pm
Quoting grashid
Last post before going to sleep...

I saw if today close below 1.6370....6220-6128 test is there....

Otherwise if PA break 6430...then north to test at 6525 or even higher to 6725 area on the way...

Trade what ur chart say and not what people say...Good luck
Thanks for your post
How was your day bro
  • #177,469
  • Oct 19, 2009 12:15pm Oct 19, 2009 12:15pm
Quoting TauTrader
Good day to you,

This is all I can offer - daily chart ( although we have a bullish engulfing candle forming) The UTL is all I have. The rest are indicators showing, but this will not be of any value to you.

This is a very high risk entry....

Hope this assists

Regards
This is a very low risk sell option.

There is a 38.2% from the entire move down at 6430 along with the TL. A fall from here and a bounce off 6130 is expected based on the 4h chart.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp h4.gif Size: 25 KB
  • #177,470
  • Oct 19, 2009 12:15pm Oct 19, 2009 12:15pm
Quoting egkid
Hey dear bro
How r u today?Hope all fine

im good bro just taking my trading to the next step which is to be patient and not chase the market for pips and get it!!!

otherwise im good brother and u?
  • #177,471
  • Oct 19, 2009 12:21pm Oct 19, 2009 12:21pm
Quoting jack.canadia
This is a very low risk sell option.

There is a 38.2% from the entire move down at 6430 along with the TL. A fall from here and a bounce off 6130 is expected based on the 4h chart.
Yep
Edit i have read some post from you early i guess there is thread you made or journal
you are one of very good trader.
Hope you keep posting
  • #177,472
  • Oct 19, 2009 12:22pm Oct 19, 2009 12:22pm
Quoting jack.canadia
This is a very low risk sell option.

There is a 38.2% from the entire move down at 6430 along with the TL. A fall from here and a bounce off 6130 is expected based on the 4h chart.
Good day to you,

Thank you for your chart. More confirmation that we have a probability down, for the interim.

Please continue sharing your charts and views... it's appreciated

My highest regards
  • #177,473
  • Oct 19, 2009 12:23pm Oct 19, 2009 12:23pm
Quoting nAVIN2007
im good bro just taking my trading to the next step which is to be patient and not chase the market for pips and get it!!!

otherwise im good brother and u?
Cool,All fine take some pips from others pairs but my main target on G/U
Let's see ,Time will tell
  • #177,474
  • Oct 19, 2009 12:23pm Oct 19, 2009 12:23pm
Quote
Originally Posted by kingfisher http://cdn.forexfactory.com/images/buttons/viewpost.gif
I am confused with one thing- if eur/usd hits 1.50, does it mean that gbp/usd will also hit 1.65 levels?
Attached is a correlation sheet between Eur/Usd and Gbd/Usd generated last week. As you can see even though the last 6 months had a pretty good positive correlation. The last 3 months had average negative correlation and the last month the 2 currency pairs were completely random.

My point is that I don't believe that if Eur/Usd hits 1.5 that Gbp/Usd will also hit 1.65. It might, but it will be for a different reason.

Attached Image
  • #177,475
  • Oct 19, 2009 12:24pm Oct 19, 2009 12:24pm
Quote
This is a very low risk sell option.

There is a 38.2% from the entire move down at 6430 along with the TL. A fall from here and a bounce off 6130 is expected based on the 4h chart.

Lot of pips to be made till 6130 !
  • #177,476
  • Oct 19, 2009 12:35pm Oct 19, 2009 12:35pm
..
Attached Image (click to enlarge)
Click to Enlarge Name: trade.gif Size: 23 KB
  • #177,477
  • Oct 19, 2009 12:40pm Oct 19, 2009 12:40pm
Quoting kingfisher
Lot of pips to be made till 6130 !
Lots yes, but as posted earlier wait for decent confirmation. Navin shows a nice flag forming and that favors a break up. So be patient
  • #177,478
  • Oct 19, 2009 12:45pm Oct 19, 2009 12:45pm
Looks Like It's Still Bullish , Maybe 1.6435 - 1.6490 Would Be Fair Area In Order To Go Short...
  • #177,479
  • Oct 19, 2009 12:53pm Oct 19, 2009 12:53pm
Quote
Attached is a correlation sheet between Eur/Usd and Gbd/Usd generated last week. As you can see even though the last 6 months had a pretty good positive correlation. The last 3 months had average negative correlation and the last month the 2 currency pairs were completely random.

My point is that I don't believe that if Eur/Usd hits 1.5 that Gbp/Usd will also hit 1.65. It might, but it will be for a different reason.

Thanks buddy for nice and simple explanation.
  • #177,480
  • Oct 19, 2009 12:56pm Oct 19, 2009 12:56pm
1.64274 is a good resistance. You may sell now and put SL above it.
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
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