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Cable Update (GBPUSD)

  • #17,021
  • Jul 4, 2007 6:36am Jul 4, 2007 6:36am
Quoting angiegiles00
You bored or what?
bored. and my brokes closes at 15GMT to re-open at 1:00 GMT again.
Thought Europe would shake things up today to spook the NYers tomorrow, but no...
  • #17,022
  • Jul 4, 2007 6:38am Jul 4, 2007 6:38am
We are some dedicated people to this forum, thought there would be no action on the thread, but good morning and Happy 4th to some of you.

Just came to check on my trades and all longs were closed @ 2.0200.

Will enjoy the rest of the day and get ready for the BOE minutes tomorrow.

Enjoy everyone....
  • #17,023
  • Jul 4, 2007 6:40am Jul 4, 2007 6:40am
My cable trade (second half of the lot size) is still open. Stop below the arch-famous 2.0130. Let's see what the reaction is to tomorrow's news-bomb.
  • #17,024
  • Jul 4, 2007 7:01am Jul 4, 2007 7:01am
Quote
We are some dedicated people to this forum, thought there would be no action on the thread, but good morning and Happy 4th to some of you.

Happy 4th July, it should be a day of mourning really. Celebrating the day you double crossed us English. Tut tut
  • #17,025
  • Jul 4, 2007 7:07am Jul 4, 2007 7:07am
Becuase I'm not from there...although I knew the basics, I had to actually go and read up a bit more on it.
http://en.wikipedia.org/wiki/Indepen...(United_States)

So to All my Fello traders from the states... have a fab, and please keep an eye on the animals with all the fireworks.

http://upload.wikimedia.org/wikipedi...nt%2C_1986.jpg

  • #17,026
  • Jul 4, 2007 7:42am Jul 4, 2007 7:42am
Quoting WTB
My cable trade (second half of the lot size) is still open. Stop below the arch-famous 2.0130. Let's see what the reaction is to tomorrow's news-bomb.
Your stop is right at a critical level. Have a look at H&S on 15min
Attached Image
  • #17,027
  • Jul 4, 2007 7:57am Jul 4, 2007 7:57am
A 15m setup for a trade based off the Daily charts? I dont think so...

I might or might not get stopped out, but I wont let the market noise cloud my thinking, specially with Interest Rates coming up.

PS: non-the-less, thanks a lot for the chart. Appreciated
  • #17,028
  • Jul 4, 2007 8:00am Jul 4, 2007 8:00am
El Duende,

Ya shouldn't had taxed us so severely!!!!

Quoting el_duende
Happy 4th July, it should be a day of mourning really. Celebrating the day you double crossed us English. Tut tut
  • #17,029
  • Jul 4, 2007 8:11am Jul 4, 2007 8:11am
Quoting JimboFX
Your stop is right at a critical level. Have a look at H&S on 15min

It's useless as it is just a 15min chart. It should be at least H1 or most reliable H4.
  • #17,030
  • Jul 4, 2007 8:14am Jul 4, 2007 8:14am
Let's spark some jitter here...

09:08 The market expects the Bank of England to raise rates to a six ear high of 5.75 percent and the European Central Bank to signal an increase at meetings of policy makers tomorrow.
1)- Down like a ROCK - doomsday, end of British Pound, target 1.9000 and beyond

2)- Up like a rocket, end of the dollar, target 2.5000 and beyond.

C'mon!!! Bring your EWs !!!!!!!!!!!!.
  • #17,031
  • Jul 4, 2007 8:17am Jul 4, 2007 8:17am
Quoting cesarnc
1)- Down like a ROCK - doomsday, end of British Pound, target 1.9000 and beyond

2)- Up like a rocket, end of the dollar, target 2.5000 and beyond.

3) stays in the no volatility limbo forever and ever!
  • #17,032
  • Jul 4, 2007 8:18am Jul 4, 2007 8:18am
Quoting camisa
3) stays in the no volatility limbo forever and ever!
That's too obvious. I want the lousy calls, cursing words, stoploss spree, you know, the good old days in this thread.
  • #17,033
  • Jul 4, 2007 8:21am Jul 4, 2007 8:21am
here is 4hr
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_11.jpg Size: 90 KB
"Millionaires don't use astrology, billionaires do"
  • #17,034
  • Jul 4, 2007 8:33am Jul 4, 2007 8:33am
The GBPUSD Bears are at it again:

Quote
(UK) LONDON'S NEWGATE STREET CLOSED DUE TO SUSPECT VEHICLE - WIRE HEADLING CITING POLICE
- Newgate St Is Near Old Bailey Court, St Paul's Cathedral
  • #17,035
  • Jul 4, 2007 8:37am Jul 4, 2007 8:37am
I am short again with only 5 lots, so I dont care much. But I think it will fall
  • #17,036
  • Jul 4, 2007 8:39am Jul 4, 2007 8:39am
GBP/USD

Daily Pivots: (S1) 2.0033; (P) 2.0058; (R1) 2.0110; more
Cable extended rally to as high as 2.0195 today, after taking out 2.0132 resistance, and is just a touch below mentioned target of 61.8% projection of 1.9183 to 2.0132 from 1.9621 at 2.0207. At this point, intraday bias remains on the upside as long as 2.0128 minor support holds and further rise should be seen to mentioned 2.0207 target. However, upside could be limited there on overbought condition. On the downside, below 2.0128 will indicate a short term top is possibly formed and bring retreat towards 4 hours 55 EMA (now at 2.0014). But downside should be contained above 1.9928 support and bring rally resumption.
In the bigger picture, the completion of the fall from 2.0132 in a corrective 3 wave manner and the holding of the medium term rising channel indicates that rise from 1.8090 is still in progress, so is the whole up trend from 1.7047. There are various interpretation of the rally from 1.7047 but none is really convincing yet. Also, medium term upside momentum remains unconvincing with bearish divergence conditions staying in weekly MACD and RSI as well as daily MACD and RSI.
Focus should now be on 2.0207 projection target. Sustained break of this level, which will also have 2.0106 cluster resistance (100% projection of 1.7047 to 1.9024 from 1.8090 at 2.0067) taken out too, will add much credence to the case that whole up trend from 1.7047 is resumption of multi-year up trend from 1.3680. In such case, further rally should then be seen to 61.8% projection of 1.3680 (01 low) to 1.9554 (05 high) from 1.7047 (05 low) at 2.0677 first. On the other hand, failure of taking out this projection target and sustained trading below medium term rising channel (now at 1.9736) will argue that whole rise from 1.7047 has completed and put 1.9183 support into focus.
  • #17,037
  • Jul 4, 2007 8:58am Jul 4, 2007 8:58am
Quoting cesarnc
Let's spark some jitter here...

09:08 The market expects the Bank of England to raise rates to a six ear high of 5.75 percent and the European Central Bank to signal an increase at meetings of policy makers tomorrow.
1)- Down like a ROCK - doomsday, end of British Pound, target 1.9000 and beyond

2)- Up like a rocket, end of the dollar, target 2.5000 and beyond.

C'mon!!! Bring your EWs !!!!!!!!!!!!.

After many loss in Short.....just now Long at 2.0157 try to TP
at 2.0330 Tomorow . hope big gain this time
  • #17,038
  • Jul 4, 2007 9:22am Jul 4, 2007 9:22am
Quoting emptmata
After many loss in Short.....just now Long at 2.0157 try to TP
at 2.0330 Tomorow . hope big gain this time

well how do you know you that it will go 2.0330 ?! while if the rate increase to 5.75% and it is already priced in, so we cant expect to see it go like a rocket up while it is already factored in , unless Bank surprise to 6% and that will like bomb and we may see 2.0300 beyond, but that factor very very rare,
on the other hand if they don't hike, that will be end of pound and start $ strength and we may see $ gain about 150 pips by the day and maybe more, and i myself thinking if the even hike to 5.75% that would be again weaken GBP and we may see gbp weak in the hours coming after report but it might not heavy move... well we should wait and see action tomorrow, but i think there would be potential big move tomorrow ...
  • #17,039
  • Jul 4, 2007 9:34am Jul 4, 2007 9:34am
Good opinion mohsen i will watchout to sel 50pip below target....
  • #17,040
  • Jul 4, 2007 9:35am Jul 4, 2007 9:35am
Quoting persian.forex
GBP/USD

Daily Pivots: (S1) 2.0033; (P) 2.0058; (R1) 2.0110; more
Cable extended rally to as high as 2.0195 today, after taking out 2.0132 resistance, and is just a touch below mentioned target of 61.8% projection of 1.9183 to 2.0132 from 1.9621 at 2.0207. At this point, intraday bias remains on the upside as long as 2.0128 minor support holds and further rise should be seen to mentioned 2.0207 target. However, upside could be limited there on overbought condition. On the downside, below 2.0128 will indicate a short term top is possibly formed and bring retreat towards 4 hours 55 EMA (now at 2.0014). But downside should be contained above 1.9928 support and bring rally resumption.
In the bigger picture, the completion of the fall from 2.0132 in a corrective 3 wave manner and the holding of the medium term rising channel indicates that rise from 1.8090 is still in progress, so is the whole up trend from 1.7047. There are various interpretation of the rally from 1.7047 but none is really convincing yet. Also, medium term upside momentum remains unconvincing with bearish divergence conditions staying in weekly MACD and RSI as well as daily MACD and RSI.
Focus should now be on 2.0207 projection target. Sustained break of this level, which will also have 2.0106 cluster resistance (100% projection of 1.7047 to 1.9024 from 1.8090 at 2.0067) taken out too, will add much credence to the case that whole up trend from 1.7047 is resumption of multi-year up trend from 1.3680. In such case, further rally should then be seen to 61.8% projection of 1.3680 (01 low) to 1.9554 (05 high) from 1.7047 (05 low) at 2.0677 first. On the other hand, failure of taking out this projection target and sustained trading below medium term rising channel (now at 1.9736) will argue that whole rise from 1.7047 has completed and put 1.9183 support into focus.
What's the time scale for 2.0677 ? If I don't sell my GBP deposits for a month, can I get 2.05 then ? just joking but the top and bottom projections are starting to look a bit meaningful now - perhaps this week will show the way.......
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