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Cable Update (GBPUSD)

  • #18,981
  • Jul 16, 2007 8:27am Jul 16, 2007 8:27am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
I am looking at 30min chart. I see kind a channel is forming but nothing definite yet. Both of my EMS are on the support-channel line so I expect bouncing not lower then 2.0350 according to my analysis....
As I said nothin formed yet.....
  • #18,982
  • Jul 16, 2007 8:27am Jul 16, 2007 8:27am
Guys, what do you think of :

4:30pm GBP CPI y/y http://forexfactory.com/images/misc/...mpact_high.gif
2.3% 2.5%

Tomorrow is another CLASSIC day when we have both US/UK data... if both good, the cable will YO-YO'ing
  • #18,983
  • Jul 16, 2007 8:29am Jul 16, 2007 8:29am
UK contraction US expansion
"Millionaires don't use astrology, billionaires do"
  • #18,984
  • Jul 16, 2007 8:37am Jul 16, 2007 8:37am
It looks as if the run above the 400 handle lasted less than 60 seconds.....nice tweezers / rail-road tracks on 1 min.

61.8% retrace held the pull back, now it needs to get back above the 5m 34EMA (agua) to mount another attempt on the 400.....will we get that in the US session....time will tell
Attached Image (click to enlarge)
Click to Enlarge Name: 5min jly 16 930.jpg Size: 78 KB
Trading Levels with WRBs
  • #18,985
  • Jul 16, 2007 8:43am Jul 16, 2007 8:43am
cable looks like going it's going to challenge 400 again. I hope he wins.
  • #18,986
  • Jul 16, 2007 8:51am Jul 16, 2007 8:51am
Quoting OrionsWay
UK contraction US expansion
Shouldn't this be in the 'waist line' forum ?
  • #18,987
  • Jul 16, 2007 8:52am Jul 16, 2007 8:52am
Quoting buangcla
cable looks like going it's going to challenge 400 again. I hope he wins.
Long Cable Long
  • #18,988
  • Jul 16, 2007 8:52am Jul 16, 2007 8:52am
yaya..... g/u up again. Goin to pocket another 40pips from my beloved g/u
  • #18,989
  • Jul 16, 2007 8:59am Jul 16, 2007 8:59am
Quoting allserene
Shouldn't this be in the 'waist line' forum ?
Hahaa maybe rigthfully so
"Millionaires don't use astrology, billionaires do"
  • #18,990
  • Jul 16, 2007 9:09am Jul 16, 2007 9:09am
Quoting cesarnc
triple top on cable
Cesarnc... remember what i said about tops?

Yesterday 9:51 pm EST

Quoting Warper
But what im trying to say is that, i only see hourly tops... not major h4 tops. Hourly tops end up in retraces(that we usualy wait to buy). Four Hour Chart tops end up in corrections (that we short). Big diference. If we look at this amazing rally, even with all of the strenght we saw, we can spot spikes acting as hourly tops and nothing big happened.

So, until i see the price droping at least 50 pips from the previous top without getting back immediately..

..In that moment i will call it another top. I will not call it because it looks like it will be.
Don't get me wrong but... where is that triple top now?

http://img509.imageshack.us/img509/2482/gbpym1.jpg

I only see 1 top... retrace... extension...

Any way, you were long right?
  • #18,991
  • Jul 16, 2007 9:17am Jul 16, 2007 9:17am
What is a correction if not a retracement?

+ + +

Meantime imo on the 4hr chart we are still in a wave3 not wave5. I don't believe we have had anything more than a 23.6% retracement so I think we have more to go for a larger retracement for a wave4 bottom.
  • #18,992
  • Jul 16, 2007 9:20am Jul 16, 2007 9:20am
Quoting Warper
Cesarnc... remember what i said about tops?

Okay, I'll repeat: I WASN'T SAYING CABLE WAS GOING DOWN TODAY. What I said is that 0364 was last top and called "triple top" the three hourly failed attempts in that figure.

Although break of 0364 was a clear long entry, I'm staying out right now. That's because market is trading DOLLAR not Euro or Swiss or Yen these last few days. And all other majors failed to put new highs yet today.

That being said, I'm looking for Euro to break 3760 down to start going long the dollar. As Euro remains way too close to a massive trendline (at about 3830), I'm looking for A) a top be confirmed or B) convincing break of this trendline - cracking 3850 and daily close above, minimum to get back shorting the dollar.

As the hours go today, R:R ratios for long and short is getting blurred to me.

- Short now has amazing theoretical R:R, but we may haven't seen the dollar's bottom.

- Long now has amazing theoretical R:R, but we may have seen the dollar's bottom.

All about confirmation + this week's data to see the light
  • #18,993
  • Jul 16, 2007 9:37am Jul 16, 2007 9:37am
still ,we do not know what game US is playing right now.

Data for this week will show DOLLAR POWER! but as usual hardly we see any movement in GU when US data is GOOD! Amazing BS!
  • #18,994
  • Jul 16, 2007 9:38am Jul 16, 2007 9:38am
I personally want to see cable hit 2.1000 level. I predict it will happen in 2007.
I am hungry for pips
  • #18,995
  • Jul 16, 2007 9:40am Jul 16, 2007 9:40am
Quoting zamans98
still ,we do not know what game US is playing right now.

Data for this week will show DOLLAR POWER! but as usual hardly we see any movement in GU when US data is GOOD! Amazing BS!
Market is clearly selling Cable and Euro rallies today. Not much for bulls not much for bears, til further clue.

Quote
I personally want to see cable hit 2.1000 level. I predict it will happen in 2007.
I also see 2.1000 this year. But not without some swings here. I've learned this the hard way: going long like a crazy moron while the market was correcting 500 pips down
  • #18,996
  • Jul 16, 2007 9:44am Jul 16, 2007 9:44am
Quoting zamans98
still ,we do not know what game US is playing right now.

Data for this week will show DOLLAR POWER! but as usual hardly we see any movement in GU when US data is GOOD! Amazing BS!
11am FIX is coming up. YEN moving...

10:46USD turning bid into the 1100EDT fixing, but also feels like profit -taking in major European pairs
  • #18,997
  • Jul 16, 2007 9:47am Jul 16, 2007 9:47am
Quoting zamans98
11am FIX is coming up. YEN moving...

10:46USD turning bid into the 1100EDT fixing, but also feels like profit -taking in major European pairs
Hey, my commentary is off here... Where are you getting this?
  • #18,998
  • Jul 16, 2007 9:47am Jul 16, 2007 9:47am
Last time I looked there are 5 months to go in the year.

So, for cable to go up another 600 pips is not very hard at all before end of year. It can move that fast before the end of July.

So many nostrodumasses. Where's free444. He'd say it can hit 1.0000 before '08.
  • #18,999
  • Jul 16, 2007 9:48am Jul 16, 2007 9:48am
Quoting zamans98
11am FIX is coming up. YEN moving...

10:46USD turning bid into the 1100EDT fixing, but also feels like profit -taking in major European pairs
Commentary is not working for me, anyone have any ideas about this ?
Thank You !
  • #19,000
  • Jul 16, 2007 9:50am Jul 16, 2007 9:50am
Quoting cesarnc
Hey, my commentary is off here... Where are you getting this?
this is from friday
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