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Cable Update (GBPUSD)

  • #21,401
  • Jul 26, 2007 12:41pm Jul 26, 2007 12:41pm
Quoting pipsimax
the decline to the secondary 2.0425 downside target should complete the correction. Stay bullish for an attempt at the 2.0855 high +the potential to sustain uptrend.


long cable long
it's fighting hard, but does it have enough left in the tank? (lower highs lower lows. Today is a wild day, S&P crashed, Gold crashed
  • #21,402
  • Jul 26, 2007 12:45pm Jul 26, 2007 12:45pm
Quoting pipsimax
the decline to the secondary 2.0425 downside target should complete the correction. Stay bullish for an attempt at the 2.0855 high +the potential to sustain uptrend.


long cable long
0550 is the key.....but the Asian session will let us know.

It has been leading the way this whole week.
  • #21,403
  • Jul 26, 2007 12:59pm Jul 26, 2007 12:59pm
Quoting wwwin
it's fighting hard, but does it have enough left in the tank? (lower highs lower lows. Today is a wild day, S&P crashed, Gold crashed

i was hoping you would lend your view of the current dollar strength. In light of negative housing numbers coming out the usd is rallying. Is it the invisible hand just saving face or is it the big money selling? How do you gauge something like this. When the price isnt following the fundamentals? Just wanted to get your take
Trade what you see, not what you think.
  • #21,404
  • Jul 26, 2007 1:04pm Jul 26, 2007 1:04pm
Quoting maestr2
i was hoping you would lend your view of the current dollar strength. In light of negative housing numbers coming out the usd is rallying. Is it the invisible hand just saving face or is it the big money selling? How do you gauge something like this. When the price isnt following the fundamentals? Just wanted to get your take
if I'm allowed to give advice ..

looking for a reason to justify the price moves is a very bad habit
just look at the chart and trade
  • #21,405
  • Jul 26, 2007 1:05pm Jul 26, 2007 1:05pm
Quoting maestr2
i was hoping you would lend your view of the current dollar strength. In light of negative housing numbers coming out the usd is rallying. Is it the invisible hand just saving face or is it the big money selling? How do you gauge something like this. When the price isnt following the fundamentals? Just wanted to get your take
Yes, and yesterday too, bad US numbers and US up, so I think probably the market is trading based on tomorrow's number. US GDP might lend more dollar support. Also, the pound might have gotten up too fast and got overextended, and the last numbers coming out of UK have been not so good for GBP. It's a battle thought, the pound always fights hard at turning points.
  • #21,406
  • Jul 26, 2007 1:07pm Jul 26, 2007 1:07pm
Dollar strength ?? Where ?

US$ Index is trading much below the days high.
  • #21,407
  • Jul 26, 2007 1:09pm Jul 26, 2007 1:09pm
Quoting ratman
and my scenario slowly builds up it selve, H&S on 4H
Hi ratman, can you post a chart that show how you see the H&S please??
  • #21,408
  • Jul 26, 2007 1:09pm Jul 26, 2007 1:09pm
Has anyone noticed that forex is never about news?

LOL.



It is always about perception
  • #21,409
  • Jul 26, 2007 1:11pm Jul 26, 2007 1:11pm
Quoting SunTrader
Dollar strength ?? Where ?

US$ Index is trading much below the days high.

vs. UK is holding up
  • #21,410
  • Jul 26, 2007 1:13pm Jul 26, 2007 1:13pm
Quoting henrycarol
Has anyone noticed that forex is never about news?

LOL.



It is always about perception
Yes exactly.

Its not the news itself. Its always the reaction to the news. And many times the re-reaction to the news.
  • #21,411
  • Jul 26, 2007 1:17pm Jul 26, 2007 1:17pm
Quoting wwwin
vs. UK is holding up
I still wouldn't call it US$ strength even against cable - since the trend from the days low is higher highs/lows back to basically unchanged, right now.
  • #21,412
  • Jul 26, 2007 1:18pm Jul 26, 2007 1:18pm
Hello everyone.....well well well....the markett has decided to turn.....I'll hedge @ 3800 for EUR and 0530 for GBP and none for CHF at the moment.....the market has gone crazy.

shot eur 3770/3840.........aim @ 3100
short gbp 0326/0507.......aim @ 9850/9600 might even go further o 1900/1890
long chf 2038.................aim @ 2600

http://www.myfxreport.com/hedging.htm

Breeze
  • #21,413
  • Jul 26, 2007 1:40pm Jul 26, 2007 1:40pm
Quoting SunTrader
Yes exactly.

Its not the news itself. Its always the reaction to the news. And many times the re-reaction to the news.
or reaction to the action, whatever.

Quote
I still wouldn't call it US$ strength even against cable - since the trend from the days low is higher highs/lows back to basically unchanged, right now.

Dollar strength is almost a joke at these levels. "Dollar strength" would be Euro sub 1.30, Cable sub 1.90
  • #21,414
  • Jul 26, 2007 1:47pm Jul 26, 2007 1:47pm
Quoting cesarnc
or reaction to the action, whatever.



Dollar strength is almost a joke at these levels. "Dollar strength" would be Euro sub 1.30, Cable sub 1.90
relative strength, lol, I dont think you may see 1.90 for a long long time
  • #21,415
  • Jul 26, 2007 1:56pm Jul 26, 2007 1:56pm
dollar strength ?????? U/J now is 118.60.......... and still down.........

I call today YEN strength


G/U 2.0989 is my target still
I Deeply Love My Virtual Life In Virtual World , RLC
  • #21,416
  • Jul 26, 2007 2:03pm Jul 26, 2007 2:03pm
OH MY GOD


CARRY TRADES ARE UNWINDING........

only down 800pips......easily another 500pips down.......2molo and next week.

What do you guys say?

  • #21,417
  • Jul 26, 2007 2:19pm Jul 26, 2007 2:19pm
Quoting henrycarol
OH MY GOD


CARRY TRADES ARE UNWINDING........

only down 800pips......easily another 500pips down.......2molo and next week.

What do you guys say?

I say: vive la vida loca
  • #21,418
  • Jul 26, 2007 2:30pm Jul 26, 2007 2:30pm
Quoting cesarnc
I say: vive la vida loca
Oh, no not Ricky Martin. Soros Jr might make another comeback too.

  • #21,419
  • Jul 26, 2007 2:40pm Jul 26, 2007 2:40pm
Quoting SunTrader
Oh, no not Ricky Martin. Soros Jr might make another comeback too.

Don't think he ever going to get the 2.1000s he wanted ....

Maybe in a couple of months..(minimum 2months)

Dow Jones down over 350points.......

As they always say.....coming down is always way faster than going up.
  • #21,420
  • Jul 26, 2007 2:57pm Jul 26, 2007 2:57pm
just note

if the H&S formation on the 4H completed then it's trigger is 420 and if 420 breaked then the target of this H&S is 200 and this target is also the target of the bearish divergence on the daily
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