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Cable Update (GBPUSD)

  • #3,841
  • Dec 28, 2006 10:58pm Dec 28, 2006 10:58pm
Quoting MoneyMa$ter
1.9563ish was Thursday's low; assuming support is now in the 9550-9560 area, it would make sense for cable to drop to 1.9562 as it continues establishing the new support level.

Also guys and gals, if you draw your fib on the 1 HOUR CHART, from Dec 18th's low of 9430 to the Dec 20th high of 9750, you will see all the prices moving about the fib levels. For example, you'll see today's high bounced of the 23 level; you'll see 9550 at the 61 fib (with six bounces over the last week) and you'll see current price hovering at 38 fib.

....the last two times price passed 9675 breaking through 23 fib on the 21st and 22nd of December, cable fell back to the 61 fib, which as we know is 9550. However, because cable broke through Cesarnc's Channel, chances are it won't fall that low this time but more likely to fall to 9560-9570.

One last point, there's a nice little pin bar on the one hour, signaling a possible move to the upside and as we know, overnight it's not unusual for cable to move up.

Conclusion: Overnight gain to 9650 area, followed by short move targeting 9560ish, more like 9570. Higher gain tonight helps lock in 100 pips to the downside as we move to 9570 tomorrow.
Just to summarize where we are, how we got here and where we think we're headed.
  • #3,842
  • Dec 28, 2006 11:01pm Dec 28, 2006 11:01pm
Leugimp,

Rise and fall....Rise and fall....Rise and fall....
  • #3,843
  • Dec 28, 2006 11:04pm Dec 28, 2006 11:04pm
Just out of curiousity I know this is the GBP/USD forum but does anyone here have any thoughts on the USD/CHF at the moment? I'm currently holding a short position on it and wondering if anyone one of you guys are seeing this thing going down to either 2189 or even 2166.
If you can't produce some results and make some serious PIPS, YOU'RE FIRED!
  • #3,844
  • Dec 28, 2006 11:06pm Dec 28, 2006 11:06pm
Oh C'mon.U take the whole page already.dont you get something else to do?



Quoting MoneyMa$ter
Leugimp,

Rise and fall....Rise and fall....Rise and fall....
  • #3,845
  • Dec 28, 2006 11:06pm Dec 28, 2006 11:06pm
Quoting MoneyMa$ter
Just to summarize where we are, how we got here and where we think we're headed.
Ah - and the origin of the name takes shape in my mind

great work sir
  • #3,846
  • Dec 28, 2006 11:12pm Dec 28, 2006 11:12pm
Quoting parlenk
Oh C'mon.U take the whole page already.dont you get something else to do?
Enjoying my freedom of speech....dont you get something else to do?

Had you read the thread you would have known I missed my jet to the Caribbean, so youse guys are stuck with me. Actually some have made money reading my whole pages. And guess what? FF can keep generating more and more whole pages in our digital universe.
  • #3,847
  • Dec 28, 2006 11:13pm Dec 28, 2006 11:13pm
Wait til you read the book Parlenk....
  • #3,848
  • Dec 28, 2006 11:16pm Dec 28, 2006 11:16pm
Quoting lonespruce
Ah - and the origin of the name takes shape in my mind

great work sir
Thank you sir.
  • #3,849
  • Dec 28, 2006 11:19pm Dec 28, 2006 11:19pm
Ohh..hmm..Ok..(somebody kill me please ).happy new year then.



Quoting MoneyMa$ter
Wait til you read the book Parlenk....
  • #3,850
  • Dec 28, 2006 11:26pm Dec 28, 2006 11:26pm
Quoting Qwiktrader
Just out of curiousity I know this is the GBP/USD forum but does anyone here have any thoughts on the USD/CHF at the moment? I'm currently holding a short position on it and wondering if anyone one of you guys are seeing this thing going down to either 2189 or even 2166.
Q,

I take it you see support at 2189. Moving averages (5 and 12) crossed to the downside and RSI(21) is below 50. So indicators suggest short is correct to potential of 2189. Couple of spikes down to 2166, requires penetration of the 23 fib (drawn from Dec 5th low of 1896 to Dec 18th high of 2270, 1 hour chart), so no I don't really see 2166 anytime soon.

Just information, not a recommendation.
  • #3,851
  • Dec 28, 2006 11:28pm Dec 28, 2006 11:28pm
Quoting MoneyMa$ter
I want to see it push through the TL by like 5 pips or so to 9640, before it takes another break....
Leugimp,

What to do now? 9645....Rise and Fall...Rise and Fall...
  • #3,852
  • Dec 28, 2006 11:30pm Dec 28, 2006 11:30pm
this is the point I will be looking to possibly short, perhaps a railroad will form.If breaks through though, I will go long up to 9668 for minimal pips. Still, I'm looking for a move now on close below 9637 on next 150 ticks. then I will short the living hell out of it. Lets see what happens
Man who scratches ass should not bite fingernails
  • #3,853
  • Dec 28, 2006 11:32pm Dec 28, 2006 11:32pm
And good call by the way. You're on point.
Man who scratches ass should not bite fingernails
  • #3,854
  • Dec 28, 2006 11:35pm Dec 28, 2006 11:35pm
am now long looking to get 15 pips.
Man who scratches ass should not bite fingernails
  • #3,855
  • Dec 28, 2006 11:42pm Dec 28, 2006 11:42pm
Thanks for the comments big guy.

Can't vouch for 15 more pips as my target was 9650. Now I'm looking to go short 80-100 pips,targeting 9570 - 9550 (9550 being our old friend the 61 fib).
  • #3,856
  • Dec 28, 2006 11:47pm Dec 28, 2006 11:47pm
Quoting MoneyMa$ter
Thanks for the comments big guy.

Can't vouch for 15 more pips as my target was 9650. Now I'm looking to go short 80-100 pips,targeting 9570 - 9550 (9550 being our old friend the 61 fib).
You and the pips aint cool like that?
Man who scratches ass should not bite fingernails
  • #3,857
  • Dec 28, 2006 11:47pm Dec 28, 2006 11:47pm
Quoting Qwiktrader
I'm currently holding a short position on it and wondering if anyone one of you guys are seeing this thing going down to either 2189 or even 2166.
2189 looking good!
  • #3,858
  • Dec 28, 2006 11:50pm Dec 28, 2006 11:50pm
Quoting Leugimp
You and the pips aint cool like that?
What's my name??
Made my calls tonight: called the turn at 9606, called the long also. NOW it's your turn.....call the ball! Actually L, I'm surprised you didn't get long at 9606 when that baby turned.
  • #3,859
  • Dec 28, 2006 11:52pm Dec 28, 2006 11:52pm
I could have gotten in at 9620 with my setup, but too many factors keeping me off. I'm all f'd up today!
Man who scratches ass should not bite fingernails
  • #3,860
  • Dec 28, 2006 11:54pm Dec 28, 2006 11:54pm
We're almost there MM on the USD/CHF! By the way nice calls on the cable today that was pretty sweet! I'm thinking about closing the USD/CHF early and shorting the cable right now.
If you can't produce some results and make some serious PIPS, YOU'RE FIRED!
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