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Cable Update (GBPUSD)

  • #270,681
  • Jan 31, 2011 11:31pm Jan 31, 2011 11:31pm
  • #270,682
  • Jan 31, 2011 11:42pm Jan 31, 2011 11:42pm
If the price can close convincingly below the lower trendline then it has a good probability for short, so I am waiting for that to happens first.

But then again with news in 2 hours, may be taking a trade now is a bit risky.

Since a drop will only goes to about 5960 which is today pivot, and where the yellow ribbon is (showing support). May be it is better to wait for it to fall at that area and buy, if it ever get there.

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  • #270,683
  • Jan 31, 2011 11:57pm Jan 31, 2011 11:57pm
Anyone can support me?? i hope that my point of view is correct, becouse previous I have had loaded some shorts and im little nervous about this situation
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  • #270,684
  • Feb 1, 2011 12:03am Feb 1, 2011 12:03am
Quoting quantz
Anyone can support me?? i hope that my point of view is correct, becouse previous I have had loaded some shorts and im little nervous about this situation
So, you're trying to say that cable will hit 1.6200?
  • #270,685
  • Feb 1, 2011 12:09am Feb 1, 2011 12:09am
I Hope that is head and shoulder formation and 1.6090 was resistance from right shoulder and now we will go to the south to neck line. is that possible??
  • #270,686
  • Feb 1, 2011 12:13am Feb 1, 2011 12:13am
Quoting quantz
I Hope that is head and shoulder formation and 1.6090 was resistance from right shoulder and now we will go to the south to neck line. is that possible??
I think this forex market is manipulated by banks.. they can go long even at higher prices and go short when everyone thinks that it is the bottom.. We retailers are the victims and they are the ultimate winners... So, I don't completely agree on technicals..
  • #270,687
  • Feb 1, 2011 12:22am Feb 1, 2011 12:22am
Quoting quantz
I Hope that is head and shoulder formation and 1.6090 was resistance from right shoulder and now we will go to the south to neck line. is that possible??
A head and shoulders pattern is confirmed (confirmation is important) when price comes down from right shoulder to the neckline and goes through it. Until that happens, all you have is a HH, a higher high and a retest of the first high. No Head and shoulders there.
  • #270,688
  • Feb 1, 2011 12:25am Feb 1, 2011 12:25am
Quoting quantz
I Hope that is head and shoulder formation and 1.6090 was resistance from right shoulder and now we will go to the south to neck line. is that possible??
I do not follow pattens as those very much but I can see why that would very possible.

Why not?
  • #270,689
  • Feb 1, 2011 12:27am Feb 1, 2011 12:27am
Quoting veer2010
I think this forex market is manipulated by banks.. they can go long even at higher prices and go short when everyone thinks that it is the bottom.. We retailers are the victims and they are the ultimate winners... So, I don't completely agree on technicals..
that's our problem bro
not euphoria follower
  • #270,690
  • Feb 1, 2011 12:29am Feb 1, 2011 12:29am
Quoting maurofx
A head and shoulders pattern is confirmed (confirmation is important) when price comes down from right shoulder to the neckline and goes through it. Until that happens, all you have is a HH, a higher high and a retest of the first high. No Head and shoulders there.
You have right, but my earliers decisions was bad i now i want to rescue all and I cathing the knife and thats making bigger mistakes:/
  • #270,691
  • Feb 1, 2011 12:38am Feb 1, 2011 12:38am
i THINK I ACCEPT TO SOME EXTENT, but still feel the technical knowledge can help identify changes in there direction when so ever it happens..
Quoting iqyu5an
that's our problem bro
  • #270,692
  • Feb 1, 2011 12:40am Feb 1, 2011 12:40am
Quoting veer2010
I think this forex market is manipulated by banks.. they can go long even at higher prices and go short when everyone thinks that it is the bottom.. We retailers are the victims and they are the ultimate winners... So, I don't completely agree on technicals..
Ah the ole market manipulation story line again . There has never been a time when it wasent minipulated . Banks, brokers and the likes have coustomers on both sides of the spectrum , importers ,exporters each needing currencies at both ends for different purposes and they will make their money on both ends and inbetween can you blame them , not much use of doing something if you cant make anything at it. This mkt wasent put here just for the heck of it there is actully a use for it besides speculation so dont complain about being a victim , no one is forcing you . Be happy you have a chance to participate and find a way to make your little piece of the pie.
  • #270,693
  • Feb 1, 2011 12:47am Feb 1, 2011 12:47am
Quoting fendi
i THINK I ACCEPT TO SOME EXTENT, but still feel the technical knowledge can help identify changes in there direction when so ever it happens..
yes bro, agree.market is so dynamic and heterogen
not euphoria follower
  • #270,694
  • Feb 1, 2011 1:01am Feb 1, 2011 1:01am
Quoting iqyu5an
yes bro, agree.market is so dynamic and heterogen
Hey Iq :-) If the market is so hetero how come it did me in the ass tonight?

  • #270,695
  • Feb 1, 2011 1:33am Feb 1, 2011 1:33am
sold 1.6115, t/p 1.56819
  • #270,696
  • Feb 1, 2011 1:36am Feb 1, 2011 1:36am
Schokingly good GBP data.
When EU breaks trough 1.3750, it will also give GU a boost.
This should be looking to test the highs of 1.6170 area.
  • #270,697
  • Feb 1, 2011 1:40am Feb 1, 2011 1:40am
If u want to succeed here don't b too sure I just changed my mind once more... I think we r almost done wit long patience pple
  • #270,698
  • Feb 1, 2011 1:41am Feb 1, 2011 1:41am
sold 1.6115, t/p 1.56819
  • #270,699
  • Feb 1, 2011 1:44am Feb 1, 2011 1:44am
Quoting PoundTrader
sold 1.6115, t/p 1.56819

Could I ask why you have sold here? Thanks still learning!
  • #270,700
  • Feb 1, 2011 1:49am Feb 1, 2011 1:49am
Quoting PoundTrader
sold 1.6115, t/p 1.56819
That sounds nice... But, i'm still not confident to short...damn cable..
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