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Cable Update (GBPUSD)

  • #18,221
  • Jul 11, 2007 6:31am Jul 11, 2007 6:31am
Quoting de123
if 2.0366 is broken, next target 2.11
WTF?
  • #18,222
  • Jul 11, 2007 6:32am Jul 11, 2007 6:32am
Don't know about you guys but according to my charts 2.031 is the technical top...break of which we could see another rally towards 2.051 area.

Fundamentals are against dollar...technicals are pro at least for now...I guess it's wait and see
For he that would be deceived, let him.
  • #18,223
  • Jul 11, 2007 6:32am Jul 11, 2007 6:32am
As expected, EURUSD broke above 1.3681 (April high) and reached as high as 1.3787, further rise towards 1.4000 to reach the next cycle top on daily chart is expected to follow in the next several days. Near term support is at 1.3650 and followed by 1.3567, only break below 1.3567 level will signal the reversal to the up trend. For long term analysis, EURUSD bottomed at 1.3263 on weekly chart. Further rise towards 1.4500 to reach the next cycle top on weekly chart is expected to follow in the next several weeks.
If I Go Broke Trying Then I Will die happy.
  • #18,224
  • Jul 11, 2007 6:35am Jul 11, 2007 6:35am
Quoting dado26
hey de123,

As I noticed we are coming from the same country "on the sunny side of the Alps"
Long time you didnt post here on cable thread and I said first time I notice you I would say hi. O.K--- HI THEN

I miss all oportunities in London trading time and it is really not nice too look at this chart after it made its great move same as yesterday.Hope you all made some pips today (hope trades are still running) and yesterday in the dollar sell-off.
europe rules....just came back from florence, what a nice suprice on my account ....comodity rules!! LOL
its just money
  • #18,225
  • Jul 11, 2007 6:37am Jul 11, 2007 6:37am
Long Cable Long
  • #18,226
  • Jul 11, 2007 6:37am Jul 11, 2007 6:37am
And the party begins

  • #18,227
  • Jul 11, 2007 6:43am Jul 11, 2007 6:43am
Quoting ilanr
2.0315 has been the third touch of a slanted resistance line, previously touched on December 4, 2006 and April 18, 2007. If cable wants to retrace, bouncing from this line would be for it the right thing to do, and then go to the support line (currently 1.9780).

Edited: Mindaugas posted the same idea while I was writing this. I agree with him/her.
Cable didn't want to retrace. So now the sky is the limit.
sans peur et sans reproche
  • #18,228
  • Jul 11, 2007 6:46am Jul 11, 2007 6:46am
Quoting ndvt241
I am shorting cable from 2.0260. TP at 2.0215
That position has been closed at 0245 (15 pips profit)
Now, I am going long with the trend
  • #18,229
  • Jul 11, 2007 6:55am Jul 11, 2007 6:55am
2.0382 is the daily pivot with 2.0344 the weekly pivot so im expecting some steam to be released from the longs looking for congestion with possible opportunity for shorts soon. these opportunities wont be high risk high reward however
  • #18,230
  • Jul 11, 2007 7:04am Jul 11, 2007 7:04am
Dollar is good to go

http://photos21.flickr.com/34246874_60a842e8a5_m.jpg
  • #18,231
  • Jul 11, 2007 7:18am Jul 11, 2007 7:18am
If china starts selling USD (or buying EUR), that will be another round of USD weakness.

What is the next resistance for GBPUSD? 2.0350?
  • #18,232
  • Jul 11, 2007 7:20am Jul 11, 2007 7:20am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
I think dollar is allready hanging....
What will make it .....breade again, breade again...
  • #18,233
  • Jul 11, 2007 7:22am Jul 11, 2007 7:22am
Quoting BurgerKing
If china starts selling USD (or buying EUR), that will be another round of USD weakness.

What is the next resistance for GBPUSD? 2.0350?
China said they will not sell dollars.
  • #18,234
  • Jul 11, 2007 7:29am Jul 11, 2007 7:29am
Quoting manu.aquetdju
China said they will not sell dollars.
China told the drug company boss they wouldn't really hang him - just make it look as though they had.....
  • #18,235
  • Jul 11, 2007 7:36am Jul 11, 2007 7:36am
china needs us just as bad as we need them. we love buying all their cheap products more than any other country or the entire eu for that matter. I'm not to worried about that in the near future.
  • #18,236
  • Jul 11, 2007 7:41am Jul 11, 2007 7:41am
Everyone on this forum has now joined the bull camp it seems. Excellent time to short then?
  • #18,237
  • Jul 11, 2007 7:43am Jul 11, 2007 7:43am
tp 1.0 ?
its just money
  • #18,238
  • Jul 11, 2007 7:49am Jul 11, 2007 7:49am
The system currently im using gave confirmation to go long at 1.9985 and later again at 2.0140. I just stayed out coz i thought it was too high. now i regret it more than anything else. we just hit 350, and feels like a strong resistance around this area. Good pippin to all who traded cable, and i lay here banging my head on the table.
  • #18,239
  • Jul 11, 2007 7:51am Jul 11, 2007 7:51am
Quoting m00jiman
The system currently im using gave confirmation to go long at 1.9985 and later again at 2.0140. I just stayed out coz i thought it was too high. now i regret it more than anything else. we just hit 350, and feels like a strong resistance around this area. Good pippin to all who traded cable, and i lay here banging my head on the table.
a lossed trade is worst than a missed opportunity
100% of traders are losers. Just that some win more than they lose!
  • #18,240
  • Jul 11, 2007 7:52am Jul 11, 2007 7:52am
Quoting manu.aquetdju
China said they will not sell dollars.
I double my attention everytime China say "they will" or "they won't". So should Paulson.
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