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Cable Update (GBPUSD)

  • #13,101
  • May 18, 2007 10:17am May 18, 2007 10:17am
If possible I think china fundamental announcements should be included as part of the calendar if known, im sure this blindsided many traders...
  • #13,102
  • May 18, 2007 10:20am May 18, 2007 10:20am
Quoting enoc2g
If possible I think china fundamental announcements should be included as part of the calendar if known, im sure this blindsided many traders...
I don't know if this data are issued in China the way they are in other countries...

The way it came out, seemed not scheduled... Although rumors were having it to happen this week.

This is what appeared to me. If someone knows how this works in China please confirm/correct me.
  • #13,103
  • May 18, 2007 10:22am May 18, 2007 10:22am
Quoting gobigo12
long 1.9721
just got out of my long for a nice +44 pips!

thanks Forex God !! lol
“Past performance is not indicative of future results”
  • #13,104
  • May 18, 2007 10:24am May 18, 2007 10:24am
I think alot of people would have shorted on basis of China news which is what happened. Problem being when DOW, S&P etc opened they were not interested in the news (strangely in my opinion) and thus smashed price right back up.

Im keeping shorts open to see what happens as im still thinking China news must still have some form of impact
  • #13,105
  • May 18, 2007 10:31am May 18, 2007 10:31am
Quoting el_duende
Im keeping shorts open to see what happens as im still thinking China news must still have some form of impact
be carefull cause I think we ll see 9800 today...
  • #13,106
  • May 18, 2007 10:35am May 18, 2007 10:35am
Quote
be carefull cause I think we ll see 9800 today...

Very possibly if Yen keeps being sold
  • #13,107
  • May 18, 2007 10:41am May 18, 2007 10:41am
Quoting wshhmm
Nice chart. I used EW before but I don't have confidence on it now. seems you are right. I keep my short term bearish on it. However, I think a small rally on the way soon because the UK retail sales news might support it.
Thanx for your comliment....

Here's the Euro breaking out of this Coil Pattern today

---------------------------------------------------------
Somebody saw this one because price is running and
no news is not out yet ... Its Friday morning still .

--------------------------------------------------------
Heres a visual -
Attached Image (click to enlarge)
Click to Enlarge Name: EUR0-05-18-07-1.jpg Size: 63 KB
  • #13,108
  • Edited 11:54am May 18, 2007 10:51am | Edited 11:54am
Quoting el_duende
Very possibly if Yen keeps being sold
I hope 9800 will happen, but doubt it.
9760 was an old support wasn't it ???
“Past performance is not indicative of future results”
  • #13,109
  • May 18, 2007 10:55am May 18, 2007 10:55am
You won't see 1.98...should have taken profit at 1.9770. You'll see 1.97 before then.
  • #13,110
  • May 18, 2007 10:57am May 18, 2007 10:57am
Quoting Pipbyta
You won't see 1.98...should have taken profit at 1.9770. You'll see 1.97 before then.
ehehhe... I would then imagine that bounce off 9700 today up is a clear BEARISH indicator, then?

I mean.. if "we will...."....
  • #13,111
  • May 18, 2007 11:01am May 18, 2007 11:01am
Profit taking before the "BIG DROP"!!!
  • #13,112
  • May 18, 2007 11:04am May 18, 2007 11:04am
wow market is on fire today, nice to have the old GBP back. Missed the craziness of it for a few days. It feels like I'm on a roller coaster.
  • #13,113
  • May 18, 2007 11:10am May 18, 2007 11:10am
Quoting shadeslay
wow market is on fire today, nice to have the old GBP back. Missed the craziness of it for a few days. It feels like I'm on a roller coaster.
i woudn't call on fire a 78 pip range day...

an onfire day would be a 200/250 pip range day!
  • #13,114
  • May 18, 2007 11:13am May 18, 2007 11:13am
Quoting cesarnc
I would then imagine that bounce off 9700 today up is a clear BEARISH indicator, then?
Do not focus on making money; focus on protecting what you have.
  • #13,115
  • May 18, 2007 11:14am May 18, 2007 11:14am
GBP has gone crazy, I was long before the retail sales, it then sunk and now returns back to my original level, the only thing is the gbpch is at the highs, which it shouldn't be, if the GBP is as strong as it is against the dollar, I thought they go opps to each other ??
  • #13,116
  • May 18, 2007 11:47am May 18, 2007 11:47am
Quoting camisa
i woudn't call on fire a 78 pip range day...

an onfire day would be a 200/250 pip range day!
I think the average of the GBP/USD is something like 160 daily total pip movements.
“Past performance is not indicative of future results”
  • #13,117
  • May 18, 2007 12:27pm May 18, 2007 12:27pm
Yet another clear example as of why I dont trade Fridays post noon (London time). Profit-takings does this every now and then. Scroll back in time and you will see these occasional 50+ pip furious spikes out of the blue around the end of London Friday session, especially after a trendy week.
  • #13,118
  • May 18, 2007 12:29pm May 18, 2007 12:29pm
Quoting gobigo12
I think the average of the GBP/USD is something like 160 daily total pip movements.
The GBPUSD average daily range (for the last 100 days) is 119 pips. I coded a small indicator to see this info on my screen.
  • #13,119
  • May 18, 2007 12:33pm May 18, 2007 12:33pm
I think.......

Chart says......

Its really easy - just put an IMO or IMHO in front of your, uhhh what is it, oh thats right opinion.

I have one. You have one. Two opinions make a market.

When someone say it won't reach X point. Guess what, some others think differently. Charts can be made to give out whatever opinion you want it to read. Its goes double for indicators.

Markets will determine where price is going. No matter where I or anyone else thinks it "should" go.
  • #13,120
  • May 18, 2007 12:45pm May 18, 2007 12:45pm
1 Hour down trend channel still intact. Two serious breakout attempts today but both thwarted at the 9780 level.

Beer this evening and bear early next week I think.

Have a good weekend one and all.
Attached Image (click to enlarge)
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