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Cable Update (GBPUSD)

  • #3,201
  • Dec 22, 2006 8:52am Dec 22, 2006 8:52am
Quoting cesarnc
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?
Thanks for posting your charts.

I am not watching any live charts for two weeks, but I would agree with your analysis upcoming.

The channel should hold the bottom this week. The top of the channel should be tested soon, but it may take a new year, and a new monthly candle to help clear the direction more surely.

Monarch
  • #3,202
  • Dec 22, 2006 8:55am Dec 22, 2006 8:55am
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


Thx a lot , that make me have second gift from SANTA CLAUS...
I Deeply Love My Virtual Life In Virtual World , RLC
  • #3,203
  • Dec 22, 2006 8:57am Dec 22, 2006 8:57am
Quoting monarch
Thanks for posting your charts.

I am not watching any live charts for two weeks, but I would agree with your analysis upcoming.

The channel should hold the bottom this week. The top of the channel should be tested soon, but it may take a new year, and a new monthly candle to help clear the direction more surely.

Monarch
Yeah thanks, Monarch

I'm out of the loop now. Just gonna watch it develop in the upcoming hours, maybe to start making projections for next week. I can't see any trend for the next hours, so no risk.
  • #3,204
  • Dec 22, 2006 8:58am Dec 22, 2006 8:58am
Quoting notme32


Thx a lot , that make me have second gift from SANTA CLAUS...
What was your position to receive the 2nd gift?

Monarch
  • #3,205
  • Dec 22, 2006 9:02am Dec 22, 2006 9:02am
Quoting cesarnc
Yeah thanks, Monarch

I'm out of the loop now. Just gonna watch it develop in the upcoming hours, maybe to start making projections for next week. I can't see any trend for the next hours, so no risk.
Just watching everyone trade and make their comments is really a nice change in my trading view.

Mostly by now, I am also out of the loop, but I am going to do some backtesting for myself and see exactly what happens once the news is over and traders have taken their profits/losses and are out of the market.

I just had a gut feeling that their may be some area left for trading during the closing hours of the market. I really need to compare each week too see.

Just a Thought, since I am not actually trading.

Monarch
  • #3,206
  • Dec 22, 2006 9:04am Dec 22, 2006 9:04am
It looks like the pound is hitting resistance right right, but if it passes that resistance then it should be good for at least 30 more pips down. I say that because this would be like a third wave down kind of deal and the third wave is 80% of the time the largest wave. Have a great weekend everybody.
I dream, therefore I become.
  • #3,207
  • Dec 22, 2006 9:05am Dec 22, 2006 9:05am
either that or were likely to hit a pin and make a move back upwards slowly.
I dream, therefore I become.
  • #3,208
  • Dec 22, 2006 9:07am Dec 22, 2006 9:07am
I'm hesitating on placing trades, guess I don't want to go into the week off ( Ish ) with my account wiped

Good holidays all, take some time off trading people, it'll still be there, although guess we'll of forgotten how to trade again
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #3,209
  • Dec 22, 2006 9:12am Dec 22, 2006 9:12am
Very nice Xmas you all, see you next Tuesday for a new ride ...

  • #3,210
  • Dec 22, 2006 9:12am Dec 22, 2006 9:12am
GBP will retrace a minimum of 50 pips from its low its friday and christmass weekend
Ghost Swoopen in for my pips while no one is lookin !!
  • #3,211
  • Dec 22, 2006 9:14am Dec 22, 2006 9:14am
Quoting monarch
What was your position to receive the 2nd gift?

Monarch
i am taking short at 9605 and out at 9579, to soon but enough...

from now i dont now what to do..

Hoping third give from SANTA CLAUS ( cause i have three son)
I Deeply Love My Virtual Life In Virtual World , RLC
  • #3,212
  • Dec 22, 2006 9:18am Dec 22, 2006 9:18am
then make a daughter,....but it must be done so that u and her come together,..thats the highest probability to get a daughter,...as i heard
its just money
  • #3,213
  • Dec 22, 2006 9:19am Dec 22, 2006 9:19am
Christmass day comes with super thin market and GBP skyrockets to 9950 what do u think? thanksgiving all over again yeah baby !!!!!!
Ghost Swoopen in for my pips while no one is lookin !!
  • #3,214
  • Dec 22, 2006 9:21am Dec 22, 2006 9:21am
Quoting Ghostpipper
GBP will retrace a minimum of 50 pips from its low its friday and christmass weekend
maybe this is the thrid !........ who knows..

retracement... always there........always retracement....

........
I Deeply Love My Virtual Life In Virtual World , RLC
  • #3,215
  • Dec 22, 2006 9:25am Dec 22, 2006 9:25am
well, that was fun!! shorted at 19575 at around 11:30, thought it was profit taking from europe. seen in the past that market retraces around this time, should have longed it and got out at 19620, then shorted it! damn my patience lack of!!! that last movement seems to be a pattern of the market every day, but my timing seems to be bad every time. got out with a 3 pip gain, my stomach couldn't hang. does anyone else see this as a good time to trade consistantly, or am i stoned???

whatever the movement, 30% retrace at euro close, then it goes back to the trend after lunch.
any opinions???
  • #3,216
  • Dec 22, 2006 9:26am Dec 22, 2006 9:26am
market opens on xmas day at 1500 right?????
  • #3,217
  • Dec 22, 2006 9:27am Dec 22, 2006 9:27am
is anyone getting quotes from e signal inbetween 11:10 and 11:25 for gbp showing high 9626 ? i am and is this an indicator that its getting ready to go up?
Ghost Swoopen in for my pips while no one is lookin !!
  • #3,218
  • Dec 22, 2006 9:29am Dec 22, 2006 9:29am
Quoting mtrmth
well, that was fun!! shorted at 19575 at around 11:30, thought it was profit taking from europe. seen in the past that market retraces around this time, should have longed it and got out at 19620, then shorted it! damn my patience lack of!!! that last movement seems to be a pattern of the market every day, but my timing seems to be bad every time. got out with a 3 pip gain, my stomach couldn't hang. does anyone else see this as a good time to trade consistantly, or am i stoned???

whatever the movement, 30% retrace at euro close, then it goes back to the trend after lunch.
any opinions???
what times exactly do u mean?
Ghost Swoopen in for my pips while no one is lookin !!
  • #3,219
  • Dec 22, 2006 9:31am Dec 22, 2006 9:31am
hi guys...

Wish u all Merry Xmast and Happy New Year...

just one question.. is there anyway i can change my chart time from GMT to EST??

im using metatrader chart...
  • #3,220
  • Dec 22, 2006 9:31am Dec 22, 2006 9:31am
i only saw a high of 19621 from esignal. might just be profit taking from european traders, the market did drop 100 pips today, or they are setting up for monday.
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