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Cable Update (GBPUSD)

  • #223,681
  • May 4, 2010 5:15pm May 4, 2010 5:15pm
Quoting samdani786
http://www.youtube.com/watch?v=jJnD-...eature=related

haha
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #223,682
  • May 4, 2010 6:04pm May 4, 2010 6:04pm
hey Magix what is the significance of 1.51415
  • #223,683
  • May 4, 2010 6:19pm May 4, 2010 6:19pm
Quoting Skyhawks
hey Magix what is the significance of 1.51415

My best guess is 1.5145ish is where price was heavily suported in the beginning of April and then again in the last week of April. Also is April monthly low. Check ur 4hr chart.

Happy pipin
  • #223,684
  • May 4, 2010 6:26pm May 4, 2010 6:26pm
Quoting Skyhawks
hey Magix what is the significance of 1.51415
Market price is reset at 5pm EST.

Today's price at 5pm was 1.51415(might be slightly different with your broker). Meta charts are staggered by the brokers, so, if you use this as your zero line for a daily pivot, it can really help you to see if the day shows positive or negative motion on the day. Where we are during London open at this time, supported or smack dab on resistance can give you guidance for the day.

Watch how this price is observed into Asian and Frankfurt sessions.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #223,685
  • May 4, 2010 6:58pm May 4, 2010 6:58pm
Quoting wormboy
cable going to 1.7
Quoting wormboy
It's not an overnight target, but it's already printed on the charts, so depends on how you trade.
If you trade the ltf, my opinion will mean nothing. It's more of a long term positioning.

Good luck with your trading.

"they" see it too now ....

-----------------------------------------------------------------------------------------

Sterling on the cusp of a big move

Written by Sean Lee
May 4, 2010 at 23:33 GMT

"I’ve just had a chat with a professional trader friend of mine who’s been trading cable at major institutions for over 30 years. He feels that the cable is due for a major move and he thinks it will be up. His arguments are that if some major selling was going to emerge it would have done so by now. The weak EUR has dragged cable lower but the EUR/GBP cross has fallen also and is now below important support at .8600. Once the election is out of the way, he feels that a big rally back towards 1.57 is possible, especially if the Tories come close to an absolute majority."
Thank You
  • #223,686
  • May 4, 2010 7:12pm May 4, 2010 7:12pm
I going long on Cable at 5150 now .... Tokyo is still on holiday so not much action can be expected ....
  • #223,687
  • May 4, 2010 7:47pm May 4, 2010 7:47pm
Quoting luqmanz
I going long on Cable at 5150 now .... Tokyo is still on holiday so not much action can be expected ....
Why would you buy at a resistance level? .51 is very strong, if you were going to do anything you should of gone short on at that level?
  • #223,688
  • May 4, 2010 8:05pm May 4, 2010 8:05pm
Quoting luqmanz
I going long on Cable at 5150 now .... Tokyo is still on holiday so not much action can be expected ....
Ouch.
Kinda nutted that one....or perhaps got nutted by that one...
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #223,689
  • May 4, 2010 9:25pm May 4, 2010 9:25pm
welp, that's my po being triggered for the long positioning mentioned yesterday.
Emergency stop will be moved to bep at the hi close 5220 with 5380 being the first target for partial profit to be taken. Remaining positions will be left for higher targets if possible.
let's see how it goes. Good luck
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Thank You
  • #223,690
  • May 4, 2010 9:58pm May 4, 2010 9:58pm
Time for the Lion to make a statement

My call is for 4780 or lower

doubts ? see attached pdf file, this comes direct from esignal the market leaders in EW analysis
Attached File(s)
File Type: pdf GBPUSD1440, Daily.pdf   19 KB | 323 downloads
  • #223,691
  • May 4, 2010 10:11pm May 4, 2010 10:11pm
Quoting forexlion
Time for the Lion to make a statement

My call is for 4780 or lower

doubts ? see attached pdf file, this comes direct from esignal the market leaders in EW analysis


conservatives get in kiss your ew goodbye ...

if in fact market top is in in US stock market we may see lower than 1.3670
Blogging daily now at www.volume.zone
  • #223,692
  • May 4, 2010 10:13pm May 4, 2010 10:13pm
Quoting malcolmb14
conservatives get in kiss your ew goodbye ...

if in fact market top is in in US stock market we may see lower than 1.3670


i badly need a weekly candle close below 5070 to start the drop

http://img20.imageshack.us/img20/1043/cable.gif
  • #223,693
  • May 4, 2010 10:18pm May 4, 2010 10:18pm
Quoting malcolmb14
conservatives get in kiss your ew goodbye ...

if in fact market top is in in US stock market we may see lower than 1.3670

if lion win
  • #223,694
  • May 4, 2010 10:19pm May 4, 2010 10:19pm
Quoting forexlion


i badly need a weekly candle close below 5070 to start the drop

http://img20.imageshack.us/img20/1043/cable.gif
on weekly that is the only major support cable will ever get

break that and cable will go below 2008 low

hold it, then we delay the drop by a year or so

http://img535.imageshack.us/img535/1043/cable.gif
  • #223,695
  • May 4, 2010 10:20pm May 4, 2010 10:20pm
Quoting kill56
if lion win
i will be the next king of England, and make you the prime minister
  • #223,696
  • Edited 10:22pm May 4, 2010 10:21pm | Edited 10:22pm
Quoting kalparker
Why would you buy at a resistance level? .51 is very strong, if you were going to do anything you should of gone short on at that level?
I'm just following my rules. I'm just buying off support (in Daily charts). I could be wrong.
  • #223,697
  • May 4, 2010 10:21pm May 4, 2010 10:21pm
US stock market could be broken

it is really volatile this last week with huge daily ranges , last we saw this ES dropped 10% in days

this alone may take gu down and the reason i am trading es these last few days

Quoting forexlion
on weekly that is the only major support cable will ever get

break that and cable will go below 2008 low

hold it, then we delay the drop by a year or so

http://img535.imageshack.us/img535/1043/cable.gif
Blogging daily now at www.volume.zone
  • #223,698
  • May 4, 2010 10:25pm May 4, 2010 10:25pm
Quoting forexlion
i will be the next king of England, and make you the prime minister

  • #223,699
  • May 4, 2010 10:25pm May 4, 2010 10:25pm
Quoting forexlion


i badly need a weekly candle close below 5070 to start the drop

http://img20.imageshack.us/img20/1043/cable.gif
If cable really went down to 5070 ... I will be short as well ...
  • #223,700
  • May 4, 2010 10:29pm May 4, 2010 10:29pm
Quoting malcolmb14
US stock market could be broken

it is really volatile this last week with huge daily ranges , last we saw this ES dropped 10% in days

this alone may take gu down and the reason i am trading es these last few days
a few factors come to my mind

 

  1. America had a policy of giving loans without credit checks, the reason behind the housing bubble
  2. what about the bad debts with banks accumulated during the recession
  3. what about the loss of business due to the Icelandic volcano

can you name some more factors

 

  1. i know they are making loads from the Afghanistan poppy fields, the main reason for American troops to be there. and oil from Iraq the main reason for invading that country

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