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Daily Cable Analysis

  • #8,041
  • May 10, 2007 11:15am May 10, 2007 11:15am
Get your thinking caps on...

"Britain's Blair says he is resigning"

Story link:
http://news.yahoo.com/s/ap/20070510/.../britain_blair


MM
  • #8,042
  • May 19, 2007 7:13pm May 19, 2007 7:13pm
Support near 1.9700 should hold strong from Friday's Low.

I am Long from 9745 to 9775 area for the expectation of a move upward into the 9000/88 area, then a re-test of the 2's high areas.

This is based upon the 9700 area being strong resistance for the past few months, and now has become a strong support.

This is not a trade recommendation, but solely a observation only.

Good Trading to all.
  • #8,043
  • May 19, 2007 7:54pm May 19, 2007 7:54pm
Quoting monarch
I am Long from 9745 to 9775 area for the expectation of a move upward into the 9000/88 area, then a re-test of the 2's high areas.
there are two ways to trade cable.

go long on a break of 9880 with tight stop loss below or long at 9550-9590 area with tight stop loss below 9550.

from 9550, you can assess weather to change your sentiment bearish.
BAM BAM BOOM! -bravado
  • #8,044
  • May 19, 2007 10:00pm May 19, 2007 10:00pm
Quoting bravado
there are two ways to trade cable.

go long on a break of 9880 with tight stop loss below or long at 9550-9590 area with tight stop loss below 9550.

from 9550, you can assess weather to change your sentiment bearish.
Option #1. And if it happens it will reach 1.9890 at least. Don't ask me why, it is written in the stars!

PS: This is an anti-trend trade. GBPUSD is in a down channel, and the stars are not responsible for people who may lose on this recommendation. I will enter based on the gap and price action in the first 2 hours.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #8,045
  • May 20, 2007 11:56pm May 20, 2007 11:56pm
Quoting Plutonite
Option #1. And if it happens it will reach 1.9890 at least. Don't ask me why, it is written in the stars!

PS: This is an anti-trend trade. GBPUSD is in a down channel, and the stars are not responsible for people who may lose on this recommendation. I will enter based on the gap and price action in the first 2 hours.


let's see what happen ..

  • #8,046
  • May 23, 2007 6:46am May 23, 2007 6:46am
Quoting forex3e
let's see what happen ..




price action ..
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  • #8,047
  • May 23, 2007 9:50am May 23, 2007 9:50am
Quoting bravado
there are two ways to trade cable.

go long on a break of 9880 with tight stop loss below or long at 9550-9590 area with tight stop loss below 9550.

from 9550, you can assess weather to change your sentiment bearish.
my long @ 9880 kicked in.
BAM BAM BOOM! -bravado
  • #8,048
  • May 23, 2007 9:52am May 23, 2007 9:52am
Quoting Plutonite
Option #1. And if it happens it will reach 1.9890 at least. Don't ask me why, it is written in the stars!
you got to teach me that sometime.
BAM BAM BOOM! -bravado
  • #8,049
  • May 23, 2007 12:50pm May 23, 2007 12:50pm
Quoting bravado
my long @ 9880 kicked in.
add long @ 9860. sl=9850.
BAM BAM BOOM! -bravado
  • #8,050
  • May 24, 2007 5:22am May 24, 2007 5:22am
Quoting monarch
Support near 1.9700 should hold strong from Friday's Low.

I am Long from 9745 to 9775 area for the expectation of a move upward into the 9000/88 area, then a re-test of the 2's high areas.

This is based upon the 9700 area being strong resistance for the past few months, and now has become a strong support.

This is not a trade recommendation, but solely a observation only.

Good Trading to all.
Price came to a Support at the 1.9676 area just 24 pips below the 1.9700 area which I stated in my last post as a being a strong support level.

I am in Long from 9745 to 9775 with mulitiple entries, as of 3:00 am EST Thursday, the price is ranging at 1.9855 and looking for a continuation into the 9900/9980 area in the coming weeks.

Thanks everyone for your inputs, and good trading to all.
  • #8,051
  • May 24, 2007 6:23am May 24, 2007 6:23am
Quoting monarch
Price came to a Support at the 1.9676 area just 24 pips below the 1.9700 area which I stated in my last post as a being a strong support level.

I am in Long from 9745 to 9775 with mulitiple entries, as of 3:00 am EST Thursday, the price is ranging at 1.9855 and looking for a continuation into the 9900/9980 area in the coming weeks.

Thanks everyone for your inputs, and good trading to all.
Hey Monarch, nice to see you catching up on cable again here.
Tra-X
  • #8,052
  • May 25, 2007 4:42am May 25, 2007 4:42am
Hey this is spooky! Talk about Mandelbrot patters....
I haven't figured out how to post charts, but you can all do this for yourselves: bring up a 60 min chart of GBP/USD for the past 3 days, and then bring up the daily from Oct-Nov-Dec 06 - compare them.
If the pattern continues - daily went down to test the 89 ema before heading north.... which means we should see a drop to 9827ish before another big move north.
Well,, let's see.
  • #8,053
  • May 25, 2007 4:47am May 25, 2007 4:47am
Look to short into River at 9863. Stop above 9904. Target 9759.
I would only be long above 9904 on this one.
http://www.sweetlettuce.com/storage/gbpusd5-25-2007.PNG
  • #8,054
  • May 26, 2007 3:14pm May 26, 2007 3:14pm
Hey Traex, good to talk with you again. Hope all your trading is going good, I know it is. Have a wonderful weekend.

Thanks also to Starfire and DownRiverTrader for you insightful post, I will keep my eyes on the levels you mentioned here.

Have a great Weekend all!

See you again on Sunday at Market Open.
  • #8,055
  • May 27, 2007 11:25pm May 27, 2007 11:25pm
two options
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  • #8,056
  • Jun 11, 2007 10:48pm Jun 11, 2007 10:48pm
shorting the pound here 1.9719 looking to take profit at 1.9685 then long to 1.9750
  • #8,057
  • Jun 11, 2007 11:05pm Jun 11, 2007 11:05pm
Quoting 59fender
shorting the pound here 1.9719 looking to take profit at 1.9685 then long to 1.9750
Before doing that you might want to read this:

[BOE GOV KING] in a speech to business people in Wales said that the central bank may need to raise interest rates again if signs of price pressures and capacity constraints remain high. He warned that it would be unwise for them to borrow so much so that repayments are only affordable at initial levels hinting of the possibility of further interest rate hikes in the near future. He said that the MPC will be closely monitoring capacity pressures, pricing intentions and inflation expectations in its deliberation on interest rates. GBP/USD a tad firmer on this news.
Patience + Humility + Study = Success
  • #8,058
  • Jun 11, 2007 11:16pm Jun 11, 2007 11:16pm
Closed long position from 1.9675 @ 1.9726 for +51 pips
  • #8,059
  • Jun 12, 2007 4:03am Jun 12, 2007 4:03am
current L2 (live efx)

http://img383.imageshack.us/my.php?image=l2gucq0.png

closed long position @ 1.9713 +12pips.
  • #8,060
  • Jul 24, 2007 5:00pm Jul 24, 2007 5:00pm
  •  tazmet
  • | Joined Jun 2007 | Status: Gold Member - Solid Gold Baby! | 47 Posts
This seemed to be a quality thread unlike some of the other cable threads that deteriorated into an anything goes thread.

Just want to bump this up.

I may have made a hasty move in going long today on the cable (demo trading). It's hovering around pivot @0619. The upward move appears exhausted. Set small target at 0649 (wishful thinking?) near previous high and below upper Fib. R2 is 0630.

Looking forward to reading others opinions and analysis.
My business model Get pips => Keep Pips => Repeat
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