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Cable Update (GBPUSD)

  • #13,261
  • May 21, 2007 9:29pm May 21, 2007 9:29pm
That's a classic
  • #13,262
  • Edited 10:40pm May 21, 2007 10:23pm | Edited 10:40pm
Quoting Kn1vez
On top of all the brokers spiking the prices to knock out all the little guy's stops, no one will know how big the candles will be.
I used to always think this too and heard of this conspiracy theory.. until I had multiple accounts and seeing 3 different brokers all hitting the same high spikes. then I found out it was just volatility. lol
“Past performance is not indicative of future results”
  • #13,263
  • May 22, 2007 12:00am May 22, 2007 12:00am
Wow.. left this thread for a while during the "WW I" and come back seeing another potential "WW II". Calm down a bit guys. Dont take everything personally.
Igrok.. even though your "views" sometimes a bit "radical" at the moment but most of it turns out proven after a while. Your long terms perspective earns respects in this thread.
Cesarnc.. your technical and fundamental knowledge have earns respects in this thread.
Marketwavez.. even though im new to elliot's wave.. but your input and point of view is highly welcome.
It would be great for this thread if you guys can share your view and have a healthy discussion and arguments without attacking each other.

Just a suggestion from one of the newbie in this thread.

Ps. Marketwavez.. i think what's mean by "shiny" is not your charts.. but your colourful fonts and size. It just IMHO. No meaning to offense you or anything.
  • #13,264
  • May 22, 2007 1:04am May 22, 2007 1:04am
Quoting cesarnc
Check February, or was there HUGE technicals tellin'ya that "China is going to screw with the worldwide stock market about....... NOW!"?????
Itme posted in his journal back then that the elliot waves had been signaling a very strong unexpected move, no one really listened to him though
  • #13,265
  • May 22, 2007 1:45am May 22, 2007 1:45am
forget technicals and fundamentals

google fight knows all

http://www.googlefight.com/index.php...ull&word2=bear
  • #13,266
  • May 22, 2007 1:46am May 22, 2007 1:46am
Quoting aicccia
Itme posted in his journal back then that the elliot waves had been signaling a very strong unexpected move, no one really listened to him though
A prediction will always get "bullied" by those who see it the other way until it was proven rite as it will always get "worshiped" by those who agree until it was proven wrong.
  • #13,267
  • May 22, 2007 1:47am May 22, 2007 1:47am
Quoting aicccia
Itme posted in his journal back then that the elliot waves had been signaling a very strong unexpected move, no one really listened to him though
need a hug?
BAM BAM BOOM! -bravado
  • #13,268
  • May 22, 2007 2:07am May 22, 2007 2:07am
Quoting bravado
need a hug?
no, it's itme that needs the hug lol
  • #13,269
  • May 22, 2007 3:21am May 22, 2007 3:21am
There is a way to blend news spikes into your technical analysis tools. I do it all the time and it adds quite a lot of info to the whole picture.
  • #13,270
  • May 22, 2007 4:20am May 22, 2007 4:20am
Do anyone know what BOE meeting say? what the ratio? the last time was 7-2
Give me patience
  • #13,271
  • May 22, 2007 4:34am May 22, 2007 4:34am
Some sort like uptrend just around the corner....
  • #13,272
  • May 22, 2007 4:35am May 22, 2007 4:35am
Quoting WTB
There is a way to blend news spikes into your technical analysis tools. I do it all the time and it adds quite a lot of info to the whole picture.
WTB, how do you blend news spikes to TA? Can you please explain?
Thanks...
  • #13,273
  • May 22, 2007 4:54am May 22, 2007 4:54am
Quoting okfx
WTB, how do you blend news spikes to TA? Can you please explain?
Thanks...
When news-delivered spikes cannot breach through significant levels of support/resistance and produce a momentum bounce off them in the direction of the main trend, it's a strong indication that the trend has overwhelmed the spike and it's a valid proof of its strength. Consequent entries upon signal usually produce sound opportunities. I use this technique all the time. It's not quite fading the spike, but rather integrate it into your TA tool-box.
  • #13,274
  • Edited 7:34am May 22, 2007 7:20am | Edited 7:34am
Havent traded cable all day as it has been quite flat. However looking at my chart would seem there is potential for move South.

1st chart is 2 hour chart showing current trend in a channel

2nd chart is zoomed in to 10 mins to give clearer picture of possible sell area.

Im going to try a short from here 1.9738

Also to add USD/CHF is trying to break 1.2330 resistance, it was repulsed around 12.20pm which coincided with cable rising around 25 pips. I believe if 1.2330 is broken then we may see 1.96xx area again in cable. See chart
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd2.gif Size: 24 KB
Click to Enlarge Name: gbpusd10.gif Size: 24 KB
Click to Enlarge Name: usdchf.gif Size: 18 KB
  • #13,275
  • May 22, 2007 7:32am May 22, 2007 7:32am
Quoting WTB
When news-delivered spikes cannot breach through significant levels of support/resistance and produce a momentum bounce off them in the direction of the main trend, it's a strong indication that the trend has overwhelmed the spike and it's a valid proof of its strength. Consequent entries upon signal usually produce sound opportunities. I use this technique all the time. It's not quite fading the spike, but rather integrate it into your TA tool-box.

WTB:

I doubt that anyone would have expected the drop
in the Euro and Pound when all Euro announcements
were positive. How does your above analysis fit into what
happened here after the Zew results were announced?
  • #13,276
  • May 22, 2007 7:35am May 22, 2007 7:35am
im short from 9740, watching closely...
  • #13,277
  • May 22, 2007 8:29am May 22, 2007 8:29am
Quoting fx_ninja
im short from 9740, watching closely...
Me too, on a test of my 5min 34 EMA upper envelope, supported by a lower high in the Euro.....watching to see what the 9:30 SM open brings
Trading Levels with WRBs
  • #13,278
  • May 22, 2007 8:40am May 22, 2007 8:40am
yeah, i think it is a lo risk entry, cuz a strong break of 9745, will prolly induce 9780 area testing. But i see main trend overall as still down, so it's worth a shot.
  • #13,279
  • May 22, 2007 9:07am May 22, 2007 9:07am
According to the fundamentals provided by FF, theres just not much US data to push cable down and since the Euro's datas are coming out good...this may push cable up north....this is what i think, its open for other opinions....
  • #13,280
  • May 22, 2007 9:16am May 22, 2007 9:16am
Quoting tiges159
According to the fundamentals provided by FF, theres just not much US data to push cable down and since the Euro's datas are coming out good...this may push cable up north....this is what i think, its open for other opinions....
British Airways flerting with Iberia takeover, weighted in EURGBP, and that was pretty much it today.

Carry trades are on the push with the good start in the US stock market. Don't know who benefits more: GU or UJ. I'm long GJ and UJ. Out of GU
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