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Cable Update (GBPUSD)

  • #18,421
  • Jul 12, 2007 8:09am Jul 12, 2007 8:09am
Quoting zamans98
Level II trade shows a lot of seller at 285,86,87,88
What is level II ?
  • #18,422
  • Jul 12, 2007 8:12am Jul 12, 2007 8:12am
Quoting zamans98
LOL, I thought you're supporter of SHORT club?

I am need the sucker trend cant stop longs covering losers to out balance order flow LOL
"Millionaires don't use astrology, billionaires do"
  • #18,423
  • Jul 12, 2007 8:15am Jul 12, 2007 8:15am
Quoting manu.aquetdju
You long ?
Yes but TG is 0315-20
Johann Channels and cycles are everything
  • #18,424
  • Jul 12, 2007 8:18am Jul 12, 2007 8:18am
Long, still uptrend, best to long at 290. Nothing help US now.
Give me patience
  • #18,425
  • Jul 12, 2007 8:31am Jul 12, 2007 8:31am
market come to halt. Missed 285-290...
we may see good action at about 11am-12 today
  • #18,426
  • Jul 12, 2007 8:34am Jul 12, 2007 8:34am
Interesting to see the trade gap was ignored whereas the employment thing and it's short term influence on interest rates was taken to heart.

It really is about interest rates and nothing else.

It's like borrowing to pay the mortgage - ok while it lasts

Bought some at 2.0287 but standing near the exit door anyway
  • #18,427
  • Jul 12, 2007 8:36am Jul 12, 2007 8:36am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
1.0290 is a hard one a....
But it will test it again.....
  • #18,428
  • Jul 12, 2007 8:37am Jul 12, 2007 8:37am
The latest RICS house-price survey was significantly weaker than expected with the proportion of estate agents reporting an increase in prices dropping to 10.6% in June from 22.5% the previous month. This was the weakest survey since the beginning of 2006 and suggests that the property market is slowing

Bad for Cable.. I see that 300 will be a level played till tomorrow's US data news.. Until then, I stay away..
  • #18,429
  • Jul 12, 2007 8:53am Jul 12, 2007 8:53am
GBP testing the 38.2% retracement (0260-0270), should make for an interesting London fix...

I'm watching from the sidelines.
  • #18,430
  • Jul 12, 2007 8:58am Jul 12, 2007 8:58am
Quoting manu.aquetdju
What is level II ?
for your info, is is a deeper market trades.
Attached Image
  • #18,431
  • Jul 12, 2007 9:04am Jul 12, 2007 9:04am
Quoting zamans98
for your info, is is a deeper market trades.
Where do you get this Level II data?
  • #18,432
  • Edited 9:10am Jul 12, 2007 9:07am | Edited 9:10am
Quoted from pg 1213 (07/11/2007)...

1. The psycological .0300 is only a few pips away with nothing to hold it back from reaching its intended goal.
2. Yesterdays speaches from US President Bush and Fed Chairman Bernanke were not very encouraging.
3. There are no significant reports for today, Wednesday, July the 11th.
4. There is a major divergence in the making based on the MACD from the date 04/18/07.
5. Stochastics on the hourly chart shows severly overbought.

Longs, keep your fingers crossed; shorts, keep your trigger fingers ready for a short run to the south. (End of quote)



It was interesting to see the pound test the previous high set for 07/11/07 then make a quick run for the south for a nice short gain of 70 pips for those looking to take advantage of them. This verified the divergence (not to its maximum potential) but as a posibility to park the long at a lower price. Now we look to test the .0360 level again and see if the Pound can break it. If after the short rally up and the Pound fails to break the .0360 level, we will have created another triple top (or head and shoulders for you "cup is half empty" folks). Then look for another short run to the south.

As Yoda put it, "Hard to see the future is..."
  • #18,433
  • Jul 12, 2007 9:25am Jul 12, 2007 9:25am
Quoting Solomon IG
Quoted from pg 1213 (07/11/2007)...

1. The psycological .0300 is only a few pips away with nothing to hold it back from reaching its intended goal.
2. Yesterdays speaches from US President Bush and Fed Chairman Bernanke were not very encouraging.
3. There are no significant reports for today, Wednesday, July the 11th.
4. There is a major divergence in the making based on the MACD from the date 04/18/07.
5. Stochastics on the hourly chart shows severly overbought.

Longs, keep your fingers crossed; shorts, keep your trigger fingers ready for a short run to the south. (End of quote)



It was interesting to see the pound test the previous high set for 07/11/07 then make a quick run for the south for a nice short gain of 70 pips for those looking to take advantage of them. This verified the divergence (not to its maximum potential) but as a posibility to park the long at a lower price. Now we look to test the .0360 level again and see if the Pound can break it. If after the short rally up and the Pound fails to break the .0360 level, we will have created another triple top (or head and shoulders for you "cup is half empty" folks). Then look for another short run to the south.

As Yoda put it, "Hard to see the future is..."

It went to 2.0365 beyond the so-called psycological 2.0300 level and the little fact of it being in a strong uptrend for weeks made it a high probability of some kind of pullback/retracement. And what does a major divergence from April got to do with anything or Stochastics hourly being severly overbought. Overbought/oversold levels can keep going just like price until finally they revert to the mean. Who is to say when they will be. Greenspan proclaimed irrational exuberance in 97'. Market cracked in '00.
  • #18,434
  • Jul 12, 2007 9:27am Jul 12, 2007 9:27am
My 4H chart is right on the edge of a signal to SELL. Even though it says SELL, I see no reason why the USD is going anywhere but down. Maybe we'll get a few pips south, but I bet she's on the long haul to go LONG. The forecast for the "Core Retail Sales" surely aren't helping anything either.
  • #18,435
  • Jul 12, 2007 9:28am Jul 12, 2007 9:28am
Quoting ndvt241
I opened 2 short positions at 0336 limit 0301 let's see
==========================

My 2 positions are winers.. I am the only one who started going short

==============
  • #18,436
  • Jul 12, 2007 9:34am Jul 12, 2007 9:34am
Quoting ndvt241
==========================

My 2 positions are winers.. I am the only one who started going short

==============
LOL The only one ?
  • #18,437
  • Jul 12, 2007 9:38am Jul 12, 2007 9:38am
Whats is the lowest the Cable is gonna hit Today ?
  • #18,438
  • Jul 12, 2007 9:39am Jul 12, 2007 9:39am
Quoting honda250nsr
Whats is the lowest the Cable is gonna hit Today ?
Nobody knows...
  • #18,439
  • Jul 12, 2007 9:43am Jul 12, 2007 9:43am
Quoting ndvt241
==========================

My 2 positions are winers.. I am the only one who started going short

==============
You're my hero
  • #18,440
  • Jul 12, 2007 9:44am Jul 12, 2007 9:44am
Quoting manu.aquetdju
Nobody knows...
Manu ... how did you choose your nick and what does it means.. I can't even say it...
what happen with yours "Long Cable Long"
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