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Cable Update (GBPUSD)

  • #30,741
  • Sep 16, 2007 3:08pm Sep 16, 2007 3:08pm
Quoting Kiyosaki JR
May i know why Northern Rock shares drop? What cause the decline?
My english not very good!
Kiyoski JR. "Time is your friend; impulse is your enemy."
  • #30,742
  • Sep 16, 2007 4:44pm Sep 16, 2007 4:44pm
Good Day

Now cable price is 2.0051 and we are in page 2.051 is this good sign
  • #30,743
  • Sep 16, 2007 4:44pm Sep 16, 2007 4:44pm
LONDON (Thomson Financial) - Credit Suisse predicts that UK interest rates will be be cut before the end of this year.

The investment bank sees the Bank of England reducing its base rate to 5.50 pct from 5.75 pct by the end of this year and to 5.25 pct in 2008.

The cut will be due to lower UK growth rates next year, it said after lowering its 2008 GDP forecast to 2.3 pct from 2.8 pct.

The bank cited slowing consumer spending, the property market and falls in US interest rates as reasons for its UK rate cut call.
For he that would be deceived, let him.
  • #30,744
  • Sep 16, 2007 6:30pm Sep 16, 2007 6:30pm
Me think cable go down
You think cable go up
Me think me is right and you is wrong

BUT


Me think, if you right
Me follow you
or not you but market
And me make money either way!
Just Trade It
  • #30,745
  • Sep 16, 2007 6:40pm Sep 16, 2007 6:40pm
Quoting pinchapip
LONDON (Thomson Financial) - Credit Suisse predicts that UK interest rates will be be cut before the end of this year.

The investment bank sees the Bank of England reducing its base rate to 5.50 pct from 5.75 pct by the end of this year and to 5.25 pct in 2008.

The cut will be due to lower UK growth rates next year, it said after lowering its 2008 GDP forecast to 2.3 pct from 2.8 pct.

The bank cited slowing consumer spending, the property market and falls in US interest rates as reasons for its UK rate cut call.
This is huge news. Although I find it wierd starting a cut cycle like 2 months after (what would have been) the end of a hike cycle...

But thanks for sharing the info...
  • #30,746
  • Sep 16, 2007 6:44pm Sep 16, 2007 6:44pm
Talking about BOE, here it goes a quick and nice summary on The Lastest King's Screwup.

http://www.bloomberg.com/apps/news?p...Iow&refer=home
  • #30,747
  • Sep 16, 2007 6:52pm Sep 16, 2007 6:52pm
As far as E.W theory is concerned we are on a wave C of an ABC wave correcton, also my guppy theory shows this baby as going down
On the daily of course
Attached Image (click to enlarge)
Click to Enlarge Name: charts.gif Size: 19 KB
Just Trade It
  • #30,748
  • Sep 16, 2007 6:56pm Sep 16, 2007 6:56pm
Quoting cesarnc
This is huge news. Although I find it wierd starting a cut cycle like 2 months after (what would have been) the end of a hike cycle...

But thanks for sharing the info...
It's just a prediction. If true, kiss the carriess good bye again(or at least another 1000 pip drop).
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #30,749
  • Sep 16, 2007 6:59pm Sep 16, 2007 6:59pm
Quoting Big Wave Rider
As far as E.W theory is concerned we are on a wave C of an ABC wave correcton, also my guppy theory shows this baby as going down
On the daily of course
But also look for a correction as a C wave consits of a 5 wave pattern(monday) and then BAMM sell off (tuesday) but it could also go up and make new highs just to prove me wrong as this market loves to do.
Remember me calling for 2.04 last week?

here is the guppy charts on the 4hr. all signs point south and when all three agree its a pretty good bet.
Attached Image (click to enlarge)
Click to Enlarge Name: charts.gif Size: 23 KB
Just Trade It
  • #30,750
  • Sep 16, 2007 7:00pm Sep 16, 2007 7:00pm
Quoting Qu|cksilver
Hi,
Does anyone agree cable may go up to 1.9050 area? or will continue bearish when the market open on monday?

My indicaters show 2.0188 area...Vantagepoint!!!
  • #30,751
  • Sep 16, 2007 7:03pm Sep 16, 2007 7:03pm
http://www.cnbc.com/id/20791837


The book makes scant mention of Bernanke, according to accounts, except in a photo caption in which Greenspan says, "I was very comfortable leaving the post in the hands of such an experienced successor."


To be or not to be, that's the question
  • #30,752
  • Sep 16, 2007 7:12pm Sep 16, 2007 7:12pm
Overall I would have to say that cable will go up or flat on monday (corrective)
and then back down on tuesday (impulsive). I have been expecting this for about two weeks now, we may see another low or a complete trend reversal but for right now we are on a zig zag ABC correction.
As far as I am concerned anyways. AND one imprortant rule is to never listen to my advice because as soon as I say what I think will happen, The market does the opposite, Thats how I make Money, I say go long and then I go short because the market always does the opposite of what I say.
Thats how I take money from other traders.

Yes I know that I am sadistac.
Just Trade It
  • #30,753
  • Sep 16, 2007 7:17pm Sep 16, 2007 7:17pm
I'm Long right now
  • #30,754
  • Sep 16, 2007 7:51pm Sep 16, 2007 7:51pm
Quote
I'm Long right now

I'm off cable right now

Hello World!
  • #30,755
  • Sep 16, 2007 8:43pm Sep 16, 2007 8:43pm
Quoting Big Wave Rider
Overall I would have to say that cable will go up or flat on monday (corrective)
and then back down on tuesday (impulsive). I have been expecting this for about two weeks now, we may see another low or a complete trend reversal but for right now we are on a zig zag ABC correction.
As far as I am concerned anyways. AND one imprortant rule is to never listen to my advice because as soon as I say what I think will happen, The market does the opposite, Thats how I make Money, I say go long and then I go short because the market always does the opposite of what I say.
Thats how I take money from other traders.

Yes I know that I am sadistac.
You sound drunk !!!!
For he that would be deceived, let him.
  • #30,756
  • Sep 16, 2007 9:04pm Sep 16, 2007 9:04pm
I have clear sign to go long...
Trigger my long at 2.0083
Kiyoski JR. "Time is your friend; impulse is your enemy."
  • #30,757
  • Sep 16, 2007 9:22pm Sep 16, 2007 9:22pm
just waiting for my 4 hour chart to give me a confirmation signal bfore going long.
Regards,
Bksujal
  • #30,758
  • Sep 16, 2007 9:30pm Sep 16, 2007 9:30pm
I think we will very likely hit 2.0000 within the day,it's at 2.0081 right now. s/l ~2.0117.
  • #30,759
  • Sep 17, 2007 12:07am Sep 17, 2007 12:07am
Cable will break 2.0225 today.. or maybe tomorrow..
"Invest With The Insiders, Not The Masses" George Muzea
  • #30,760
  • Sep 17, 2007 12:34am Sep 17, 2007 12:34am
2,0085. GBP USD broke 2,0150 support. GBP USD is in an downtrend directed by 1H exponential moving averages. GBP USD is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The downtrend should continue to gather momentum. The price should find a resistance below 2,0110.

Resistances 2,0110 - 2,0150

Supports
2,0050 - 2,0000
If I Go Broke Trying Then I Will die happy.
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