Cable Update (GBPUSD) | Page 10795 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #215,881
  • Apr 12, 2010 12:22am Apr 12, 2010 12:22am
Quoting aykenar
1.55 might be a good short considering UK elections currently look like its headed for a hung parliament.

If it continues like this up and until election time we could a lot of weakness for the Pound.
Not according to the Sunday Times on the BBC News web site -
http://news.bbc.co.uk/1/hi/uk_politi...10/8613798.stm

In addition to the economic figures coming out last week, which were surprisingly good, everything is currently pointing north.

Recent PA shows that this baby could be going a lot higher than 1.55. I have 1.5534 as the next major test, but as Forexlion says we are due a retrace soon, probably bouncing of this long-term resistance line.

Here was my post and chart from yesterday
http://www.forexfactory.com/showthre...73#post3627073

I thought we would not see 1.5534 until later in the week, but here I am sitting at my PC at 6:15am on a Monday morning and blow me, she is nearly already there. I am still looking to buy, but wary of the retrace! Let's see what the Frankie and London boys get up to.
  • #215,882
  • Apr 12, 2010 12:33am Apr 12, 2010 12:33am
Quoting xPrav
morning guys,

i was holding my shorts from friday @ 5380 and knew it was pretty much a risk, was in green when friday closed and red when monday opened...

any ideas about what we may see later today?

I belive we will atleast cover up the gap first and then the direction will be decided...

your say please...
Gaps can take days, weeks if not months to close. The direction has already been decided my friend. Draw a trendline up from the low on 8th April and you will see that we will not see this close very soon.

If you have trouble finding this trendline, here is an old chart for you -
http://www.forexfactory.com/showthre...26#post3627726
  • #215,883
  • Apr 12, 2010 12:48am Apr 12, 2010 12:48am
Quoting bbakker
Gaps can take days, weeks if not months to close. The direction has already been decided my friend. Draw a trendline up from the low on 8th April and you will see that we will not see this close very soon.

If you have trouble finding this trendline, here is an old chart for you -
http://www.forexfactory.com/showthre...26#post3627726
you will see RED CANDLES I wouldnt close any shorts thats for sure we are at the top so dont listen to trendlines on 15 min chart that will be broken fast we are in a wave 5 down after completing an ABC Corrective wave.
  • #215,884
  • Apr 12, 2010 12:48am Apr 12, 2010 12:48am
Quoting Magix
Agreed.

You can already tell this fella is gunna be one of the great ones.

Not taking away from some of the other new up and coming super stars...just agreeing is all.

Thanks Magix.
  • #215,885
  • Apr 12, 2010 12:54am Apr 12, 2010 12:54am
Quoting Allseeingeye
you will see RED CANDLES I wouldnt close any shorts thats for sure we are at the top so dont listen to trendlines on 15 min chart that will be broken fast we are in a wave 5 down after completing an ABC Corrective wave.
True. Trendlines are there to be broken. Maybe Frankie and London will do so. Do you have a chart that shows your Elliot Wave analysis with fib lines. Thanks.
  • #215,886
  • Apr 12, 2010 12:57am Apr 12, 2010 12:57am
http://fxdom.ru/uploads/posts/127053...pusd-daily.gif
  • #215,887
  • Apr 12, 2010 1:01am Apr 12, 2010 1:01am
Quoting bbakker
Thanks Magix.
here it is
Attached Image (click to enlarge)
Click to Enlarge Name: 555.jpg Size: 49 KB
  • #215,888
  • Apr 12, 2010 1:12am Apr 12, 2010 1:12am
Quoting Allseeingeye
here it is
Thank you for that!

So c is (e) around 1.54 and you are now expecting cable to drop back to 1.5 again?
  • #215,889
  • Apr 12, 2010 1:13am Apr 12, 2010 1:13am
We will probably have a run down now to fill that gap, however, that is not the reason it will run down. Its just time for a little retrace or DTL testing.

Jim
  • #215,890
  • Apr 12, 2010 1:15am Apr 12, 2010 1:15am
T1 1.5380
t2 1.5242
t3 1.4900
  • #215,891
  • Apr 12, 2010 1:18am Apr 12, 2010 1:18am
Quoting Allseeingeye
you will see RED CANDLES I wouldnt close any shorts thats for sure we are at the top so dont listen to trendlines on 15 min chart that will be broken fast we are in a wave 5 down after completing an ABC Corrective wave.
Here comes that trendline of mine

So c is (e) around 1.54 and you are now expecting cable to drop back to 1.5 again?
  • #215,892
  • Apr 12, 2010 1:22am Apr 12, 2010 1:22am
Quoting Nene
We will probably have a run down now to fill that gap, however, that is not the reason it will run down. Its just time for a little retrace or DTL testing.

Jim

absolutely bro..this gonna take off! ..hang tight buddy
damnit work it calling me..trade safe folks
  • #215,893
  • Apr 12, 2010 1:25am Apr 12, 2010 1:25am
Quoting Nene
T1 1.5380
t2 1.5242
t3 1.4900
Hey there,

I'm watching the tl on m15 and if we break it downward will be short and looking to 5380 first...

I think we will see alot of buying pressure from around there but if we continue, 5300 is my next level...
@pawpaw1000 on Twitter
  • #215,894
  • Apr 12, 2010 1:32am Apr 12, 2010 1:32am
Hey,
Can anyone post the different opening times for all the different markets?
I'm in the US and ours opens at 16:30
Thanks,
  • #215,895
  • Apr 12, 2010 1:36am Apr 12, 2010 1:36am
Quoting Boon Doc
Hey,
Can anyone post the different opening times for all the different markets?
I'm in the US and ours opens at 16:30
Thanks,
Google is your friend and will show it in your local TZ too!
  • #215,896
  • Apr 12, 2010 1:36am Apr 12, 2010 1:36am
Quoting bbakker
Here comes that trendline of mine

So c is (e) around 1.54 and you are now expecting cable to drop back to 1.5 again?
1.4750 should get there that is my wave 5 first target new low

and if you want to talk fundamentals the British economy & Banking are in worst shape then everyone so we will start to see BAD NEWS Coming up for the GBP.
  • #215,897
  • Apr 12, 2010 1:41am Apr 12, 2010 1:41am
Quoting Boon Doc
Hey,
Can anyone post the different opening times for all the different markets?
I'm in the US and ours opens at 16:30
Thanks,
http://forex.timezoneconverter.com/
  • #215,898
  • Apr 12, 2010 1:44am Apr 12, 2010 1:44am
Cable 4h looks bearish if it closes as stands currnetly...

Think its called a engulfing candle> Last candles totally engulfs the previous one and closes lower???
Attached Image (click to enlarge)
Click to Enlarge Name: asdf.png Size: 64 KB
@pawpaw1000 on Twitter
  • #215,899
  • Apr 12, 2010 1:47am Apr 12, 2010 1:47am
Quoting pawpaw1000
Hey there,

I'm watching the tl on m15 and if we break it downward will be short and looking to 5380 first...

I think we will see alot of buying pressure from around there but if we continue, 5300 is my next level...
yo brother i got in at 462 through a 5 min trigger. at b/e now and gonna try hold to the levels you mentioned.
  • #215,900
  • Apr 12, 2010 1:48am Apr 12, 2010 1:48am
And a tweezer formation
229 traders viewing now, 2 are registered:
bosti
,
ericis