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Cable Update (GBPUSD)

  • #3,181
  • Dec 22, 2006 8:13am Dec 22, 2006 8:13am
Can you post a simple chart so I can see what happened the last 24 hours, maybe the 15 min chart. Thanks a bunch.

Monarch
  • #3,182
  • Dec 22, 2006 8:15am Dec 22, 2006 8:15am
Quoting monarch
Can you post a simple chart so I can see what happened the last 24 hours, maybe the 15 min chart. Thanks a bunch.

Monarch
Oohh, you gonna love it...
  • #3,183
  • Edited Feb 2, 2007 9:46am Dec 22, 2006 8:17am | Edited Feb 2, 2007 9:46am
here it is...who wouldnt love it....buy on rumors sell on news...or sell on gread buy on fear
its just money
  • #3,184
  • Dec 22, 2006 8:18am Dec 22, 2006 8:18am
Quoting cesarnc
Oohh, you gonna love it...
With what I have read, I believe the Pound went up some this morning pressing some resistance, and is now going down to close in the channel, same as last week formation.

Monarch
  • #3,185
  • Dec 22, 2006 8:20am Dec 22, 2006 8:20am
Quoting de123
here it is...who wouldnt love it....buy on rumors sell on news...or sell on gread buy on fear
I was kinda hoping to see some times and prices on the charts.

Thanks

Monarch
  • #3,186
  • Dec 22, 2006 8:23am Dec 22, 2006 8:23am
Quoting monarch
Can you post a simple chart so I can see what happened the last 24 hours, maybe the 15 min chart. Thanks a bunch.

Monarch
Here you are. Note the current channel angle compared to previous weeks... Does this suggest a new up, breaking this channels formation?

Your comments are sooo welcome.

Click to enlarge

http://i2.photobucket.com/albums/y28/cesarnc/dec22.jpg
  • #3,187
  • Dec 22, 2006 8:24am Dec 22, 2006 8:24am
Monarch....if you have web access you can see charts at the following location

http://www.dailyfx.com/charts/Chart.html?symbol=GBP/USD

Hope that helps when you are away from your trading station.
  • #3,188
  • Edited Feb 2, 2007 9:46am Dec 22, 2006 8:26am | Edited Feb 2, 2007 9:46am
Quoting monarch
I was kinda hoping to see some times and prices on the charts.

Thanks

Monarch
yes coment needed...ill lock it whatever u say
its just money
  • #3,189
  • Dec 22, 2006 8:28am Dec 22, 2006 8:28am
Quoting pdhawan
Monarch....if you have web access you can see charts at the following location

http://www.dailyfx.com/charts/Chart.html?symbol=GBP/USD

Hope that helps when you are away from your trading station.
I do have the access, but I am not using my own computer, and I do not want to interfere with any chart or java downloads.

Thanks

Monarch
  • #3,190
  • Dec 22, 2006 8:30am Dec 22, 2006 8:30am
Monarch
I hope this will help,
Attached Image
  • #3,191
  • Dec 22, 2006 8:31am Dec 22, 2006 8:31am
Quoting monarch
With what I have read, I believe the Pound went up some this morning pressing some resistance, and is now going down to close in the channel, same as last week formation.

Monarch
Pip Meister,

Cable moved higher last night than (I) expected. It did drop +100 pips, despite what I'd consider USD negative news this morning. So while similar, there is a shift from last week's formation. Cable retraced up and currently bid at 1.9607.

Enjoy your Christmas!
  • #3,192
  • Edited Feb 2, 2007 9:46am Dec 22, 2006 8:33am | Edited Feb 2, 2007 9:46am
testing support 1 more time as i write...time & fibo
its just money
  • #3,193
  • Dec 22, 2006 8:37am Dec 22, 2006 8:37am
Quoting cesarnc
Here you are. Note the current channel angle compared to previous weeks... Does this suggest a new up, breaking this channels formation?

Your comments are sooo welcome.

Click to enlarge

http://i2.photobucket.com/albums/y28/cesarnc/dec22.jpg
It looks like we may not even be back at a 50% Fibo on the week. I am not surprised by the newer high this week, but was expecting the close of today to be below the 1.9600 mark, more towards 1.9555 area from my memory of resisitance.

I still see the past two weeks as a time of testing, which we have seen a bit of with the last two weeks highs. I am going to watch the Close of the Monthly Candle to help me determine if we will be continuing upwards.

I need to see my charts to make a better judgement, but from what I have seen so far, it has went the way I thought it has.

I had originally set a Short to wait at 1.9743 which would have hit this week, but I adjusted it to 1.9840 before I left home last week. I am still waiting for a bigger jump upwards before I Short. There is room for more slippage in the downward side next week, which really helpsme see a stronger push upwards in the next 2 weeks highs.

We are facing Holidays after todays close, but a lot of traders will still be seeing movement next week, just like the two weeks. I would trade the channel next week making pips on the upward, and pips on the downward. Just like it has been doing.

Moneymaster and I have been stating this movement, and it has pretty much followed suit the last several weeks.

Monarch
  • #3,194
  • Dec 22, 2006 8:39am Dec 22, 2006 8:39am
Looks like its going down again with a lil force
trading on demo is not trading
  • #3,195
  • Dec 22, 2006 8:39am Dec 22, 2006 8:39am
Quoting synopses
Monarch
I hope this will help,
This is great, appreciate the time.

Monarch
  • #3,196
  • Edited Feb 2, 2007 9:46am Dec 22, 2006 8:43am | Edited Feb 2, 2007 9:46am
one more wont hurt us...this is 1 min
its just money
  • #3,197
  • Dec 22, 2006 8:43am Dec 22, 2006 8:43am
It's consolidating the channel now @ 9580 area. May catch up the upper trendline on next week only... and then a new up for a new channel... Makes sense?
  • #3,198
  • Dec 22, 2006 8:43am Dec 22, 2006 8:43am
Quoting MoneyMa$ter
Pip Meister,

Cable moved higher last night than (I) expected. It did drop +100 pips, despite what I'd consider USD negative news this morning. So while similar, there is a shift from last week's formation. Cable retraced up and currently bid at 1.9607.

Enjoy your Christmas!
I agree, but I expected the 1.9800 mark to have been tested this week, especially with such a small drop off at the first of the weeks open.

I do not think the 1.9607 will hold, but should help us set a foundation towards the support levels of next month.

The news does move the market nicely, but the Pound is still staying inside the boundaries if 1.9550 to 1.9700.

This is setting the stage for 2007, lets all work together and we should make some great progress in understanding the characteristics and moods of the Pound.

Monarch
  • #3,199
  • Dec 22, 2006 8:46am Dec 22, 2006 8:46am
Quoting de123
one more wont hurt us...this is 1 min
With about 4 hours left in the day, looking at the 1 min, we should see a little more stagnation, should stay below and under the the 1.9600 mark for the day.
  • #3,200
  • Dec 22, 2006 8:49am Dec 22, 2006 8:49am
Quoting enzo2325
Looks like its going down again with a lil force
This is nothing new to us, it has done it a lot recently in the smaller time frames, but I do not see it going down much further with "force", but it may go down some more slowly.

Watch carefully, and do not jump into a position at the bottom if your planning a Short.

Monarch
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