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Cable Update (GBPUSD)

  • #18,701
  • Jul 13, 2007 1:48pm Jul 13, 2007 1:48pm
Quoting cesarnc
I'm not saying cable WILL go down. I'm saying some dollar recovery for next is favoured at this point, since 80.40s was traded.

Right now, I prefer going for the best risk:reward offered: short with stop right above the top. Target for weeks to come would be 1.9995 (50% fib 9615 - 0364). Euro not too much below 3600. This is actually "target USD-index 81.50, last support, now likely resistance).

I'm just sick of staying glued to the screen already. This will be a trade and forget. Stop and Reverse above 0364 and let this baby shows what it's got.
Yeah.. i also think that cable will have some retracement after the long run.. previous scenario being post by hotstrom (if im not mistaken) has big possibilities.. but IMHO not going down until .97 yet.

All the situation now support the possibilities :
Cable possibilities of triple tops..
Euro possibilities of Pin Bar..
Dolar index at its lowest..

Break trough.. and we will see "heaven" (as in cable means 2.0600)???
  • #18,702
  • Jul 13, 2007 1:51pm Jul 13, 2007 1:51pm
Quoting henrycarol
Picking tops...and bottoms is very nice if you did it.

If not it will be very very painful.

Trend is still USD weakness. I say, the dollar sell off could continue longer.

But who knows. Just following the trend.

Just came back from DOTA. Yeah .....won 2 matches.

Cheers.
BNET?? U play WOW also?? How old are u henry?? hehe.. WCG asia coming soon.. looking forward to see some semis and final replay..
  • #18,703
  • Jul 13, 2007 2:53pm Jul 13, 2007 2:53pm
Quoting cesarnc
On a Friday the 13th, Gold closes at $666.

There is NO WAY it can be good.
lol

n e ways... I agree the tech analysys dollar index bottom, 3 tops (resistaance), retraction towards 61 on fibs, easy to figure out SL etc etc...

fyi: IRAN saying they want Yen...not USD

in any case I see goo money next week, either way
Pipology 101 student
  • #18,704
  • Jul 13, 2007 4:41pm Jul 13, 2007 4:41pm
Quoting cesarnc
On a Friday the 13th, Gold closes at $666.

There is NO WAY it can be good.
http://i157.photobucket.com/albums/t...82036204_s.gif
“Past performance is not indicative of future results”
  • #18,705
  • Jul 13, 2007 9:58pm Jul 13, 2007 9:58pm
Quoting dd33
BNET?? U play WOW also?? How old are u henry?? hehe.. WCG asia coming soon.. looking forward to see some semis and final replay..
I think isn't matter Henry is old or young.
game for all ages. just kidding Henry . Hope you'll be the champ !!

regards
  • #18,706
  • Jul 14, 2007 4:09am Jul 14, 2007 4:09am
Quoting zamans98
Umm, nice.
A: Cable being pushed up before US news release
B: Cable down as being sold by middle east big sharks
C: Cable hit low at .269 before bounce back to 320's area, pushed by MM
D: Cable probably visit back 320's - 340's area before to form another "A" pattern.

i guess it will be the same play today.http://img444.imageshack.us/img444/7002/cableal9.png

Its purely my market analysis, based on speculation (fundamental is dead!). Do not attempt to follow it.
There it goes. I'm just watching the market from side.
Exactly the same trend... A & B pattern.
  • #18,707
  • Jul 14, 2007 4:12am Jul 14, 2007 4:12am
http://kitco.com/images/live/t24_au_en_usoz_6.gif

Yes, its 666 and friday the 13th? Hmm, makes me thinking that some real a$$ kicking forex action next week...
  • #18,708
  • Jul 14, 2007 4:26am Jul 14, 2007 4:26am
anybody noticed on the news forecast for next week? my god... there's tons of good GBP news and bad USD news... i'll bet GU will reach 2.1000 by Friday with ease...
LONG GU LONG! TP 700pips from Monday
  • #18,709
  • Jul 14, 2007 4:30am Jul 14, 2007 4:30am
lol you wish
Trade what you see, not what you think.
  • #18,710
  • Jul 14, 2007 4:39am Jul 14, 2007 4:39am
Quoting karmostaji
lol you wish
to reach 2.1000 for cable is just a piece of cake... for long term... maybe by end of the year we'll see whether cable can reach my 3.0000 target... which is not impossible....
  • #18,711
  • Jul 14, 2007 4:42am Jul 14, 2007 4:42am
Quoting pipology-101
lol

n e ways... I agree the tech analysys dollar index bottom, 3 tops (resistaance), retraction towards 61 on fibs, easy to figure out SL etc etc...

fyi: IRAN saying they want Yen...not USD

in any case I see goo money next week, either way
Totally agree with u... Yen and Euro will replace USD as the main currency of the world... Mr Bush is too busy sending more soldiers to be slaughtered in Iraq... Mr Brown is very keen on improving the economy... i'm seeing cable bullishness to continue forever without corrections...
  • #18,712
  • Jul 14, 2007 5:08am Jul 14, 2007 5:08am
i say 720 for gold in 3 weeks...just watch & learn...
its just money
  • #18,713
  • Jul 14, 2007 7:37am Jul 14, 2007 7:37am
Something to be GBP Bullish:

Quote
UK HOUSING MARKET: RISE IN HOUSE PRICES ACCELERATED IN JUNE, DEPARTING FROM A RECENT TREND OF SLOWING OR STEADY INFLATION IN THE RESIDENTIAL UK HOUSING MARKET - FT HOUSE INDEX
- Peter Williams, chairman of Acadametrics, said the change was not large and it was too soon to say whether the monthly increase was a blip or the sign of a longer-term trend.
- Reminder: Halifax and Nationwide surveys for June showed that UK house prices are declining. But note that the FT index is more comprehensive than the lenders’ data, since it is based on the final sale price of every transaction recorded by the Land Registry

<GBP/USD EUR/GBP GBP/JPY GILTS>
  • #18,714
  • Jul 14, 2007 7:50am Jul 14, 2007 7:50am
Quoting BurgerKing
Something to be GBP Bullish:
yes... 2.1000 next week!
  • #18,715
  • Jul 14, 2007 8:19am Jul 14, 2007 8:19am
Quoting soros_junior
yes... 2.1000 next week!
ok good prediction..gu daily cs still no reversal found..may i know what is the point which is support your prediction that gu will reach at 2.100
  • #18,716
  • Jul 14, 2007 9:45am Jul 14, 2007 9:45am
Quoting soros_junior
yes... 2.1000 next week!
Monday is the key of the week, if we saw 2.0487 on Monday!!, maybe this can underpin your prediction, but if we didn't see 2.0364 on Monday, so cable won't go up till the end of the week
  • #18,717
  • Jul 14, 2007 9:58am Jul 14, 2007 9:58am
This is an interesting article. In conclusion Summer is generally cable bullish but this time + bad fundamentals for dollar.

http://www.dailyfx.com/export/sites/...port/ajfs5.gif

Article is here
Johann Channels and cycles are everything
  • #18,718
  • Jul 14, 2007 10:27am Jul 14, 2007 10:27am
Quoting soros_junior
anybody noticed on the news forecast for next week? my god... there's tons of good GBP news and bad USD news... i'll bet GU will reach 2.1000 by Friday with ease...
LONG GU LONG! TP 700pips from Monday
I´m dollar bearish medium to long term, but think in this scenario: Big Boys wants some cash and they need a lot of people buying (next week good Cable news). Price is near top of its channel and very very far away from its median. Just an idea..........


I´m expecting a new high and then a correction. That doesn´t mean I won´t buy. I trade what I see in my charts if I see a buy I´ll buy and I see a sell I ´ll seel too
Johann Channels and cycles are everything
  • #18,719
  • Jul 14, 2007 11:13am Jul 14, 2007 11:13am
Quoting zamans98
There it goes. I'm just watching the market from side.
Exactly the same trend... A & B pattern.
This was an awesome call....I do expect some fireworks this week. Japan on holiday come Sun/Mon and lots of GBP news this week.
  • #18,720
  • Jul 14, 2007 11:19am Jul 14, 2007 11:19am
Quoting pino2
Monday is the key of the week, if we saw 2.0487 on Monday!!, maybe this can underpin your prediction, but if we didn't see 2.0364 on Monday, so cable won't go up till the end of the week
I was also looking at my charts and with a holiday for Japan to start the week and no major news on Monday I do see cable breaking that 0364 barrier.

Question is what was your reasoning on picking 2.0487??? Fib number???

I'm seeing a shot to 0400, but then meeting some resistance at that point.
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