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Cable Update (GBPUSD)

  • #2,321
  • Dec 18, 2006 9:40am Dec 18, 2006 9:40am
Quoting chronical
at the third attempt, again it failed to break 9430-35 zone; it looks like 9430-35 support holds for a while...

long at 9438

SL 9395
If this is the case, then Fibs for today:

382 = 9468
500 = 9478
618 = 9489

I'm also long at 9460... waited to see price movement.... It is not going to be that bigga retracement, though...

P.S. Gosh... I miss Monarch...
  • #2,322
  • Dec 18, 2006 9:42am Dec 18, 2006 9:42am
sorry another support was 9411-9400
  • #2,323
  • Dec 18, 2006 9:43am Dec 18, 2006 9:43am
Looks that way...just entered long @ 9445 with a 35pip SL
Quoting cesarnc
Is this a valid channel to consider? I'm still learning those technical stuff yet... Wanna know whether or not this is draw correctly...

I'm here gathering all information possible to justify an overall bearish trend, although scalping both ways yet... If this is correct, it's time to retrace, isn't it?

http://i2.photobucket.com/albums/y28/cesarnc/dec-18.jpg
  • #2,324
  • Dec 18, 2006 9:47am Dec 18, 2006 9:47am
Depends on the housing data that comes out at 1pm. I think that will move the market at least 30 pips or more. I do not expect a good housing data. All the news that has been good has been from retail, due to the hoildays. Wow Happy Holidays to All
Quoting cesarnc
If this is the case, then Fibs for today:

382 = 9468
500 = 9478
618 = 9489

I'm also long at 9460... waited to see price movement.... It is not going to be that bigga retracement, though...

P.S. Gosh... I miss Monarch...
  • #2,325
  • Dec 18, 2006 9:48am Dec 18, 2006 9:48am
Mayday Mayday , it's going down, it's going down..... :


"Joke for this hour "
I Deeply Love My Virtual Life In Virtual World , RLC
  • #2,326
  • Dec 18, 2006 9:52am Dec 18, 2006 9:52am
Quoting dobbie11
Depends on the housing data that comes out at 1pm. I think that will move the market at least 30 pips or more. I do not expect a good housing data. All the news that has been good has been from retail, due to the hoildays. Wow Happy Holidays to All
Actually this housing data is expected to be similar than previous. What is again, good for dollar... Just don't know if this is a big a market mover... (?!?)
  • #2,327
  • Dec 18, 2006 9:56am Dec 18, 2006 9:56am
Quoting chronical
at the third attempt, again it failed to break 9430-35 zone; it looks like 9430-35 support holds for a while...

long at 9438

SL 9395
The 610 (Fib number) EMA is sitting around the 9430 area and a failure to break this point could singnal a retrace... Last week the turning point was the 377 EMA and it then trended up to the 9700 area from that point were the 377 was at 9470. Just FYI.
  • #2,328
  • Dec 18, 2006 9:57am Dec 18, 2006 9:57am
I would not enter a long until the price closed above the 161.8 fib. Either on the 15, 30 or hour chart. I am still waiting for the signal. But if u r long a 30 - 50 SL should be ok. Since the UK market is closing orders right now and it still has not broke the 9430 area and is forming a bit of a hammer.
  • #2,329
  • Dec 18, 2006 9:58am Dec 18, 2006 9:58am
Quoting mmccormac
The 610 (Fib number) EMA is sitting around the 9430 area and a failure to break this point could singnal a retrace... Last week the turning point was the 377 EMA and it then trended up to the 9700 area from that point were the 377 was at 9470. Just FYI.
Thanks

Quote
I would not enter a long until the price closed above the 161.8 fib. Either on the 15, 30 or hour chart. I am still waiting for the signal. But if u r long a 30 - 50 SL should be ok. Since the UK market is closing orders right now and it still has not broke the 9430 area and is forming a bit of a hammer.

Thanks
  • #2,330
  • Dec 18, 2006 10:01am Dec 18, 2006 10:01am
Anything to done with housing for the US market is big. That is what started this whole trend at least 70% of it. Wouldn't you say ?
Quoting cesarnc
Actually this housing data is expected to be similar than previous. What is again, good for dollar... Just don't know if this is a big a market mover... (?!?)
  • #2,331
  • Dec 18, 2006 10:05am Dec 18, 2006 10:05am
Quoting dobbie11
Anything to done with housing for the US market is big. That is what started this whole trend at least 70% of it. Wouldn't you say ?
The Existing Home Sales and New Home sales numbers can move the market but I've not seen the release coming out today ever do anything that great. We'll see I guess. Good luck everyone!
  • #2,332
  • Dec 18, 2006 10:07am Dec 18, 2006 10:07am
Quoting dobbie11
Anything to done with housing for the US market is big. That is what started this whole trend at least 70% of it. Wouldn't you say ?
good point.

off-topic: practicing "boys don't cry" in the guitar while watching the maket... To prevent crying in the end of the day
  • #2,333
  • Dec 18, 2006 10:30am Dec 18, 2006 10:30am
What happen if (US=NAHB Housing Market Index) increase. Is USD to be strong
Quoting dobbie11
Anything to done with housing for the US market is big. That is what started this whole trend at least 70% of it. Wouldn't you say ?
  • #2,334
  • Dec 18, 2006 10:36am Dec 18, 2006 10:36am
very nice piece of information here...

http://www.fxstreet.com/technical/an...006-12-18.html

A triangle being formed, what would indicate further GBP bull... Interesting...
  • #2,335
  • Dec 18, 2006 10:46am Dec 18, 2006 10:46am
higher number
Quoting ariban
What happen if (US=NAHB Housing Market Index) increase. Is USD to be strong
  • #2,336
  • Dec 18, 2006 10:51am Dec 18, 2006 10:51am
Yes I agree, I am looking for a retracement to the 9485 - 9490 area before the news. But it needs to break this 9461
Quoting cesarnc
very nice piece of information here...

http://www.fxstreet.com/technical/an...006-12-18.html

A triangle being formed, what would indicate further GBP bull... Interesting...
  • #2,337
  • Dec 18, 2006 11:03am Dec 18, 2006 11:03am
a triangle consist of 5 waves A,B,C,D & E with 3 subwaves in each wave.
Quoting dobbie11
Yes I agree, I am looking for a retracement to the 9485 - 9490 area before the news. But it needs to break this 9461
  • #2,338
  • Dec 18, 2006 11:05am Dec 18, 2006 11:05am
Quoting dobbie11
Yes I agree, I am looking for a retracement to the 9485 - 9490 area before the news. But it needs to break this 9461
You see GBP down for the upcoming news?
  • #2,339
  • Dec 18, 2006 11:18am Dec 18, 2006 11:18am
Well the last 2 reports from the NAHB have increased and it is having a real hard time getting by the 9461 area. It looked good for a while and still has a chance. but the short bias is holding strong. You do have a dragon fly Doji on the hour chart. Which the low should hold as support. But once again one never really knows. Just go with what you system tells you. And it is getting late also. Might be time to just sit back and WAIT.
Quoting cesarnc
You see GBP down for the upcoming news?
  • #2,340
  • Dec 18, 2006 11:20am Dec 18, 2006 11:20am
Quoting dobbie11
Might be time to just sit back and WAIT.
yup
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