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Cable Update (GBPUSD)

  • #3,601
  • Dec 28, 2006 2:44am Dec 28, 2006 2:44am
My charts are telling that GBP has legs for moving upward.

Watch out
  • #3,602
  • Dec 28, 2006 3:01am Dec 28, 2006 3:01am
Quoting kapanil
My charts are telling that GBP has legs for moving upward.

Watch out
Would you care to enlighten us as to your reasoning? I see no indication to entice me either way. I was long from earlier but closed it when I caught it positive a few pips.
  • #3,603
  • Dec 28, 2006 3:05am Dec 28, 2006 3:05am
Quoting fxkenny
Would you care to enlighten us as to your reasoning? I see no indication to entice me either way. I was long from earlier but closed it when I caught it positive a few pips.
I'm afraid the same as last Tuesday could happen. Not enough steam to push up, colapse and fall...
  • #3,604
  • Dec 28, 2006 3:08am Dec 28, 2006 3:08am
i am short from 77 with a very tight stop on this
  • #3,605
  • Dec 28, 2006 3:30am Dec 28, 2006 3:30am
Fiber up 0.25%, Swissie down 0.26% and we're flat... Annoying!!!!
  • #3,606
  • Dec 28, 2006 3:32am Dec 28, 2006 3:32am
ya ive got a 7 pt stop for this reason, i think its off to bed before the us open and let this run from here.

Best of luck,
Mike
  • #3,607
  • Dec 28, 2006 3:38am Dec 28, 2006 3:38am
A triangle forming from yesterday's high up to now. Low volume, EMAs close to each other, RSI=50.

All set for a breakout about 12GMT. Likely to be downards.
  • #3,608
  • Dec 28, 2006 3:41am Dec 28, 2006 3:41am
It could go either way or nowhere at all as it happens...

I'm long since Monday night at 537 which I'll keep until just before Chicago PMI unless my target of 9610 is reached first
  • #3,609
  • Dec 28, 2006 3:51am Dec 28, 2006 3:51am
graph to explain my target
Attached Image
  • #3,610
  • Dec 28, 2006 4:00am Dec 28, 2006 4:00am
graph to explain my target Quote: Cerbera

I have been watching the same chart as well as the daily. As I mentioned earlier I was in long but opted to exit as the picture got so undecided. I see no compelling reason to enter either direction for now so will stay flat and see if NY can wake up the market. See everyone then.
  • #3,611
  • Dec 28, 2006 4:03am Dec 28, 2006 4:03am
Quoting fxkenny
Would you care to enlighten us as to your reasoning? I see no indication to entice me either way. I was long from earlier but closed it when I caught it positive a few pips.
RSI is more than 50.00 both on daily and hourly charts for GPB/USD ( FXSOL)

Central banks in Middle East have announced diversification in favor of Euro and GPB, which is USD negative.
  • #3,612
  • Dec 28, 2006 4:07am Dec 28, 2006 4:07am
i just went long @ 1.9581 with tight stop loss 20 pips
If I Go Broke Trying Then I Will die happy.
  • #3,613
  • Dec 28, 2006 4:13am Dec 28, 2006 4:13am
Ive been short hopefully the usdchf turning long is forcasting the gbpusd short. It's something have to go to another chart to confirm my position
Attached Image
  • #3,614
  • Dec 28, 2006 4:39am Dec 28, 2006 4:39am
freaking market is SO disgusting that my chart has huge 10 pips grids... When price move 3 pips, looks like a breakout!
  • #3,615
  • Dec 28, 2006 5:00am Dec 28, 2006 5:00am
Got a bullish engulfing 4h candle on my timezone, also it seems to be trying to jump over that descending trendline now....

Let's see if resistance or the updrift wins

Fixme1too said 1.9612 I believe, I'm highly curious to see what's gonna happen at the 600s....
Trust price. Know yourself.
  • #3,616
  • Dec 28, 2006 5:11am Dec 28, 2006 5:11am
Well out at 609... Off for lunch now
  • #3,617
  • Dec 28, 2006 5:13am Dec 28, 2006 5:13am
Quoting Moe
i just went long @ 1.9581 with tight stop loss 20 pips
im out +35 pips
If I Go Broke Trying Then I Will die happy.
  • #3,618
  • Dec 28, 2006 5:30am Dec 28, 2006 5:30am
I shorted @ 9610, SL @ 9630 (yesterday's high).

If breaks 9630, then the railway to 9720 is in place

If not, I'll collect pips on the way down...

Again - risky business
  • #3,619
  • Dec 28, 2006 5:38am Dec 28, 2006 5:38am
Quoting cesarnc
I shorted @ 9610, SL @ 9630 (yesterday's high).

If breaks 9630, then the railway to 9720 is in place

If not, I'll collect pips on the way down...

Again - risky business
Not telling you what to do, but watch out for that stop loss, Stop loss placement is as important as anything in your trading and that just seems to be one where there might be a large cluster of stops.

Not telling you what to do, just saying with my money I would be looking for a top to form lower than yesterdays top in the near short term. If it doesn't exceed it, then we will have a nice negative reversal that we can ride down with new top as your stop, and with more safety. Like I said, not telling you what to do, but I personally like to see some sort of confirmation.
Man who scratches ass should not bite fingernails
  • #3,620
  • Dec 28, 2006 5:45am Dec 28, 2006 5:45am
Quoting Leugimp
Not telling you what to do, but watch out for that stop loss, Stop loss placement is as important as anything in your trading and that just seems to be one where there might be a large cluster of stops.

Not telling you what to do, just saying with my money I would be looking for a top to form lower than yesterdays top in the near short term. If it doesn't exceed it, then we will have a nice negative reversal that we can ride down with new top as your stop, and with more safety. Like I said, not telling you what to do, but I personally like to see some sort of confirmation.
I have that all in mind. And eyes glued to the computer... 9620 is showing to be a good candidate fot today's top, making sense with today's moves, yesterday's high and channel's up trendline...

Im purely assuming that there'll be no volume (critical mass) to boost Cable to another high at the 9720, founding a new channel. But that is the way I'm reading the market now. May change my opinion within the hour, though... Thanks anyway
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