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Cable Update (GBPUSD)

  • #14,681
  • Edited 5:27am Jun 11, 2007 5:22am | Edited 5:27am
i dont know this week bearish or bullish ...help me what indicator to see
help help me
  • #14,682
  • Jun 11, 2007 5:24am Jun 11, 2007 5:24am
Quoting free4440273
yeah, no sorry - you are correct there. this is unlike EUR/USD where it's looking pretty bearish for the euro - we could go to 3200.
No worries, I agree with your analysis on the Euro as well !
  • #14,683
  • Jun 11, 2007 5:34am Jun 11, 2007 5:34am
The bottom part of the daily candle on friday has disappeared off MT4 platform. the daily is now giving the low and close as 9699......
Eish! If you don't fly with the eagles you'll scratch with the turkeys
  • #14,684
  • Jun 11, 2007 5:34am Jun 11, 2007 5:34am
Quoting fx1800
i dont know this week bearish or bullish ...help me what indicator to see
help help me
its in a range 19666 /19680 untill proven otherwise
its just money
  • #14,685
  • Jun 11, 2007 6:47am Jun 11, 2007 6:47am
I am Cable long with a target price @ 1.9780
TRADE LIKE A MACHINE!
  • #14,686
  • Jun 11, 2007 9:03am Jun 11, 2007 9:03am
Quoting froland
I am Cable long with a target price @ 1.9780
How did you get that???? Im looking at the screen since this morning(GMT +8hrs) and all i see is linear movement.
  • #14,687
  • Jun 11, 2007 9:50am Jun 11, 2007 9:50am
Quoting Al1nn
How did you get that???? Im looking at the screen since this morning(GMT +8hrs) and all i see is linear movement.
i think you might have missunderstood what he meant, his profit target is 9780, he didnt get in at 9780. he probobly got in around 9670
  • #14,688
  • Jun 11, 2007 11:48am Jun 11, 2007 11:48am
Ive sold at 1.9696 for a small target gain of around 30 pips -Small range today and we are at the top of it - This quick short also supported by last weeks high/low fib level at 23.6% and corresponds with 1.97 a good psycological resistance.

Dont expect much to happen until CPI at 9.30 GMT tomorrow
  • #14,689
  • Jun 11, 2007 11:51am Jun 11, 2007 11:51am
Quoting el_duende
Ive sold at 1.9696 for a small target gain of around 30 pips -Small range today and we are at the top of it - This quick short also supported by last weeks high/low fib level at 23.6% and corresponds with 1.97 a good psycological resistance.

Dont expect much to happen until CPI at 9.30 GMT tomorrow
i was just thinkin of shorting for about 30pips myself. dont know if i have the guts thou.
  • #14,690
  • Jun 11, 2007 12:10pm Jun 11, 2007 12:10pm
Sad but true, today is a non-trade day, imo. If the big money is out, out should we be, too

A truckload of hot economical data coming from tomorrow on + CB officers taking like crazy around the world....

Patience will be important this week
  • #14,691
  • Jun 11, 2007 12:11pm Jun 11, 2007 12:11pm
Its 1.9686 now! a mighty 10 pips up! lol

May as well move stop loss to break even for a freebie trade
  • #14,692
  • Jun 11, 2007 12:23pm Jun 11, 2007 12:23pm
I'm long @ 1.9666 will exit at 1.9710 to re-postion
  • #14,693
  • Jun 11, 2007 12:30pm Jun 11, 2007 12:30pm
Quoting pino2
I'm long @ 1.9666 will exit at 1.9710 to re-position
I closed it @ 1.9676, direction is still unclear
  • #14,694
  • Jun 11, 2007 12:32pm Jun 11, 2007 12:32pm
I close mine for 20 pips

Wow that was fun!

Time to make some chicken
  • #14,695
  • Jun 11, 2007 12:34pm Jun 11, 2007 12:34pm
Usually Monday is the key of the week which almost clears the direction for the rest of the week, but today Monday is hidding the direction in a weird way, there are some numbers that must have occured today like 1.9710 and 1.9646 but both were not reached (high was 1.9705 and low was 1.9649)
  • #14,696
  • Jun 11, 2007 12:54pm Jun 11, 2007 12:54pm
today they might close longs BPM7 & fresh buy BPU7, so it might take a while...whatever.
its just money
  • #14,697
  • Jun 11, 2007 1:25pm Jun 11, 2007 1:25pm
i still have a short position, and my trailing stop is now at 1.9706; previous high against the trend was 1.9705, so if this is broken then we're going up, a bit or a lot. if i'm stopped, i will only re-enter a short if price falls below 1.9619.

Quoting pino2
Usually Monday is the key of the week which almost clears the direction for the rest of the week, but today Monday is hidding the direction in a weird way, there are some numbers that must have occured today like 1.9710 and 1.9646 but both were not reached (high was 1.9705 and low was 1.9649)
Nihil Sine Deo.
  • #14,698
  • Jun 11, 2007 1:57pm Jun 11, 2007 1:57pm
Went long from 1.9675 last night tartget of 1.9730, this would need to occur by very early morning..... otherwise position may be cosed.

+16 1.9691 so far, maybe this will happen sooner than i think!! ;o)
  • #14,699
  • Jun 11, 2007 2:04pm Jun 11, 2007 2:04pm
Quote
Ive sold at 1.9696 for a small target gain of around 30 pips -Small range today and we are at the top of it - This quick short also supported by last weeks high/low fib level at 23.6% and corresponds with 1.97 a good psycological resistance.

Price near top of range again - repeat trade! In at 1.9698

edit added fib chart
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 11 KB
  • #14,700
  • Jun 11, 2007 2:17pm Jun 11, 2007 2:17pm
BOE's King says may need to take further action on inflation

King says UK inflation expectations have drifted up; capacity utilization is unusually high--pretty hawkish stuff from BOE Gov. King
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