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Cable Update (GBPUSD)

  • #461
  • Dec 1, 2006 2:47am Dec 1, 2006 2:47am
i think today's candle will end up with doji. If doji will form, next week will be reversal week. Just my opinion..
Yacob I dive the market without Fear.
  • #462
  • Dec 1, 2006 2:54am Dec 1, 2006 2:54am
Quoting yacob
i think today's candle will end up with doji. If doji will form, next week will be reversal week. Just my opinion..
yeah,,doji time
  • #463
  • Dec 1, 2006 2:56am Dec 1, 2006 2:56am
Quoting kamalhassan
yeah,,doji time
Maybe.. we do not know.. can you feel the reversal wind now?
Yacob I dive the market without Fear.
  • #464
  • Dec 1, 2006 3:04am Dec 1, 2006 3:04am
Ummmmmmmmmmmmmm... not feeling the wind yet.
Show me the PIPS!
  • #465
  • Dec 1, 2006 3:49am Dec 1, 2006 3:49am
Rezo is right. Institutionals/Professionals may look to book profits after a long running week.
I got a FLAT call on the GBP this morning when it broke 1.9672, so generally that would indicate that the pairs is either topped out, or it's consolidating (for further upside movement). The depth of the pullback should tell us later this morning.

Quoting Rezo
Hello everybody!

Guys n gals, be careful there, today is friday, and some profit taking may occur. fridays are usually not so plesant to trade, and especially after such a week!

Good Luck everyone, and have a great weekend!

Rezo
Capital Preservation is key to long term wealth accumulation
  • #466
  • Dec 1, 2006 4:05am Dec 1, 2006 4:05am
Quoting forexboomer
This is what i meant......dont listen to everything you hear!!!!
where Qs, now u can smile.....

forexboomber...this is 4 a while...b4 gu continue hit 2.01-/+2
  • #467
  • Dec 1, 2006 4:45am Dec 1, 2006 4:45am
GBP/USD went up high as 1.9744 then retrace again to 1.9633 in early European trade. I was able to get 80 pips when it spiked up to the 1.9740 mark but I should have sold GU from that point to gain another 100 pips.

So you think that it will go down to 1.9600?
  • #468
  • Dec 1, 2006 4:48am Dec 1, 2006 4:48am
Wow the dollar really got raped, 4 weeks ago we were looking there would be a reversal at 1.9000 and now we are almost reaching 1.97XX
Egyptian and proud of it!
  • #469
  • Dec 1, 2006 4:58am Dec 1, 2006 4:58am
Quoting MuddBuddha
Rezo is right. Institutionals/Professionals may look to book profits after a long running week.
I got a FLAT call on the GBP this morning when it broke 1.9672, so generally that would indicate that the pairs is either topped out, or it's consolidating (for further upside movement). The depth of the pullback should tell us later this morning.
I agree. I think Bernanke's speech today will be good short term for USD until next week. I think he will try and talk the dollar up to ease the pressure but we will have to wait and see what unfolds.....
  • #470
  • Dec 1, 2006 5:09am Dec 1, 2006 5:09am
On 30min chart gbp/usd price move within the channel..
Attached Image
Yacob I dive the market without Fear.
  • #471
  • Dec 1, 2006 5:39am Dec 1, 2006 5:39am
Quoting yacob
On 30min chart gbp/usd price move within the channel..
but it has been broken
  • #472
  • Dec 1, 2006 7:07am Dec 1, 2006 7:07am
Profit-taking will create a short term correction. Bernanke's speech I think will rehash his speech of Tuesday, notwithstanding USD weakness, higher than expected unemployment claims and the other signals of recession. The rest of the world sees US recession coming (plus interest rate ease), even if Mr. Bernanke won't admit it.
  • #473
  • Dec 1, 2006 7:20am Dec 1, 2006 7:20am
Quoting MoneyMa$ter
Profit-taking will create a short term correction. Bernanke's speech I think will rehash his speech of Tuesday, notwithstanding USD weakness, higher than expected unemployment claims and the other signals of recession. The rest of the world sees US recession coming (plus interest rate ease), even if Mr. Bernanke won't admit it.
On my perspective, cable will continue the rally. But today is the first friday of the month. So, u know what I mean
  • #474
  • Dec 1, 2006 7:30am Dec 1, 2006 7:30am
So if I enter short now which is 1.9678, down to what mark say 1.9620? or lower?
  • #475
  • Dec 1, 2006 7:34am Dec 1, 2006 7:34am
Quoting fxpinoy
So if I enter short now which is 1.9678, down to what mark say 1.9620? or lower?
I'm just going to wait. A lot of news coming starting at 9AM ET.
I'm a disciplined trader and that's the only way I trade.
  • #476
  • Dec 1, 2006 7:40am Dec 1, 2006 7:40am
Yeah you're right, there might be a lot of spikes during Bernanke's speach this morning. But I'll take chances, will sell GU 1.9678 SL 1.97; TP 1.9638 for 40 pips so let's see
  • #477
  • Dec 1, 2006 7:44am Dec 1, 2006 7:44am
Quoting drick008
I'm just going to wait. A lot of news coming starting at 9AM ET.
Yeah, Bernanke at 9am est, ISM report at 10:00 est. Cable's just sideways for now. I think everyone's waiting on the ISM, in light of the PMI yesterday. If ISM mirrors PMI, then Cable long sounds good (returning to the 1.9740 area) followed by profit-taking.
  • #478
  • Dec 1, 2006 7:47am Dec 1, 2006 7:47am
There's also US Fed Plossner at 9:30 AM ET, US Fed Lacker at 1:45 PM ET and US Fed Kohl at 7:30 PM ET.
I'm a disciplined trader and that's the only way I trade.
  • #479
  • Dec 1, 2006 7:52am Dec 1, 2006 7:52am
my opinion.. usd will strong for this short term until next week.. or this upcomming news will be little bit choppy.. and what ever the news i will still short until i see strong up trend again..
Yacob I dive the market without Fear.
  • #480
  • Dec 1, 2006 7:53am Dec 1, 2006 7:53am
Quoting MoneyMa$ter
Yeah, Bernanke at 9am est, ISM report at 10:00 est. Cable's just sideways for now. I think everyone's waiting on the ISM, in light of the PMI yesterday. If ISM mirrors PMI, then Cable long sounds good (returning to the 1.9740 area) followed by profit-taking.
i concurr exactly money
Ghost Swoopen in for my pips while no one is lookin !!
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