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Cable Update (GBPUSD)

  • #286,841
  • Aug 18, 2011 8:54pm Aug 18, 2011 8:54pm
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not euphoria follower
  • #286,842
  • Aug 18, 2011 8:59pm Aug 18, 2011 8:59pm
Even though on the longer TFs the overall trend is to the upside, on the shorter TFs you will get the up and down swings but I do see a potential downside correction to the 6300s. Obviously we will only look at this based on how the market reacts to that rising trend line. A momentum breakout on the 4hr chart could signify that downward correction.
  • #286,843
  • Aug 18, 2011 9:38pm Aug 18, 2011 9:38pm
Quoting iqyu5an
.
what is the point? please tell...picture only make us confused
"sharing knowledge make us more rich"
  • #286,844
  • Aug 18, 2011 9:41pm Aug 18, 2011 9:41pm
make your own analysis then trade based on yours not others .
Confuse ? me too ...
***
picture = 1000 words .....

Quoting rullyforex
what is the point? please tell...picture only make us confused
not euphoria follower
  • #286,845
  • Aug 18, 2011 11:27pm Aug 18, 2011 11:27pm
4 horly. Having failed to break back above the rising trendline cable finds itself at the middle bollinger again. This has to hold on a 4 hr chart for a rally. So if your wanting to long a trade here with a close below as a stop about as good as I can see. Otherwise a touch of the lower bands is on the horizon, which currently is around the 50% 1.6350 area if this last upswing.
I will be short aiming for 1.6350 if 4 hourly closes below the middle bollinger. And may scalp a few long till then as I expect trendline to be tested again. Pending short around 1.6550 should we reach it. But we need to see some large green candles appearing. Otherwise the large hands are distributing in which case cable could be going much lower
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  • #286,846
  • Aug 18, 2011 11:48pm Aug 18, 2011 11:48pm
Quoting hamad9
People cant understand something and they tell you, you can't understand it. i ignore them completely

yesterday same thing happened when i shorted @ 1.6585 everyone was saying oh its long it will go on 1.66 becareful and blah blah and i made 150 pips from my yesterday's short! Here > http://www.forexfactory.com/showthre...05#post4878605

when i told people yesterday euus will go down no one believed me and were targeting 1.47 people just blah blah take a look at my yesterdays eu us trade Here > http://www.forexfactory.com/showthre...51#post4878551

i...
for your information gbp stength is the reason for cables position right now..u have this wrong..also please dont try and tell people who can trade how to trade especially when u dont have even one vouch..and actaully have no idea yourself

cable is obviously trending up...there is absolutely no reason at all for any1 to be short unless it is a scalp..i can even show u this on a 1hr chart if u want and prove it..with a charts!!

posting difference of view is fine, even debating is good..but telling people they are confused is wrong especially when u havent got leg to stand on from a technical prospective

Im happy to show u why via charts
  • #286,847
  • Aug 18, 2011 11:57pm Aug 18, 2011 11:57pm
Much shorter timeframes showed this morning buyers clearly coming in again at the mentioned support. This works both ways too, sellers will clearly come in at the top on the band- going to be using them today as targets/entrys. Switch to 5 mins and follow the momentum, try not to have a real bias today and you'll make more pips.
  • #286,848
  • Aug 19, 2011 12:23am Aug 19, 2011 12:23am
Quoting nAVIN2007
for your information gbp stength is the reason for cables position right now..u have this wrong..also please dont try and tell people who can trade how to trade especially when u dont have even one vouch..and actaully have no idea yourself

cable is obviously trending up...there is absolutely no reason at all for any1 to be short unless it is a scalp..i can even show u this on a 1hr chart if u want and prove it..with a charts!!

posting difference of view is fine, even debating is good..but telling people they are confused is wrong especially when...
Ouch...
  • #286,849
  • Aug 19, 2011 12:34am Aug 19, 2011 12:34am
Small short at 1.6495 lookin for todays low 10 pip stop then to BE
  • #286,850
  • Aug 19, 2011 12:43am Aug 19, 2011 12:43am
closed for +35.
  • #286,851
  • Aug 19, 2011 12:45am Aug 19, 2011 12:45am
Quoting hamad9
I closed with 30 pips but still very interested to short it again @ 1.6450.

Those who are looking for 1.66 please stop day dreaming lol.

Long on GBP ? you think i am Weed ? you think i am Crazy ?

How can i buy pound with the current problems in UK ? i.e protests, Banks cutting jobs, Drop in Manufacturing, and at the very same time USD is at it lowest levels you think usd will never rise ? how can someone ignore such things. come on wake up buddy!

Pound has not even single reason to go on 1.66xx and the current strength and price levels 1.64/65...
morning,
as i was sayin in previous posts im not blind, GU is tryin to breake the 4h uptrend knocking on its trendline (bottom of megaphone seen below)
i dont think you are crazy by shorting it.... depends on what we talk about. if we talk about a move from a resistance to a support and a ping pong or a swing trade i full agree with you.

then talking now of 1.60 looks quite improbable.
yesterday i posted a thing sayin "if n once channel broken, first target n bounce area is between 6350 n 6300".....

nobody here say you are crazy or discuss your trading strategy!
we all are here to share our ideas! take it easy
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90% of traders use TA, indicators and prediction
  • #286,852
  • Edited 12:51am Aug 19, 2011 12:51am | Edited 12:51am
I think ping pong today buy low sell high- I prefer wait sell high, but both should work if your smart enough.
  • #286,853
  • Aug 19, 2011 12:51am Aug 19, 2011 12:51am
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not euphoria follower
  • #286,854
  • Aug 19, 2011 12:54am Aug 19, 2011 12:54am
Wow....this fight between the shorts and the Longs are really heating up...........Dun Fight, Just Trade, Preach Love, Not Hate!!!
  • #286,855
  • Aug 19, 2011 1:03am Aug 19, 2011 1:03am
Cable just swinging round its pivot today- impossible to call the next big move until it breaks this range.
  • #286,856
  • Aug 19, 2011 1:06am Aug 19, 2011 1:06am
back to below DP again...hufffffffffff.............

News in next 25 minutes
not euphoria follower
  • #286,857
  • Aug 19, 2011 1:10am Aug 19, 2011 1:10am
work in progress...
different colors to better see places of bounces.

possible tech move out of channel/megaphone? still intact unless a candle closing out.

i have no position actually
out of this pattern i have 6380-6350 as first bounce area
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90% of traders use TA, indicators and prediction
  • #286,858
  • Aug 19, 2011 1:15am Aug 19, 2011 1:15am
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not euphoria follower
  • #286,859
  • Aug 19, 2011 1:18am Aug 19, 2011 1:18am
pullback 50pips happened @61.8% + support
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90% of traders use TA, indicators and prediction
  • #286,860
  • Aug 19, 2011 1:20am Aug 19, 2011 1:20am
A hourly close below this tendline I am short.
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