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Cable Update (GBPUSD)

  • #3,881
  • Dec 29, 2006 1:18am Dec 29, 2006 1:18am
ok L,

is this a pause or finally our move??? weren't you guys talking earlier of a top around 9670???
  • #3,882
  • Dec 29, 2006 1:19am Dec 29, 2006 1:19am
Quoting dobbie11
What I am seeing here and if you look at the hourly chart is, this baby is forming a very nice inverted Head and Shoulders and could very well top out at 1.9745 Area and then Move between 745 and 515 for a week or so before breaking out to the down side. I think the out look is still long unless 605 is broken and is going long if 680 is broke. Just my opinion.
I think its almost gone as far as it should go, not only will I short the hell out of it, but I will ride it all the way down to its 200SMA on 4hr chart. Also just an opinion.
Man who scratches ass should not bite fingernails
  • #3,883
  • Dec 29, 2006 1:22am Dec 29, 2006 1:22am
Quoting dobbie11
What I am seeing here and if you look at the hourly chart is, this baby is forming a very nice inverted Head and Shoulders and could very well top out at 1.9745 Area and then Move between 745 and 515 for a week or so before breaking out to the down side. I think the out look is still long unless 605 is broken and is going long if 680 is broke. Just my opinion.
I think if it close above 9680 you might be right, but it might just spike above it just to come back down under, depends how much you are willing to find out. I will give it to 9715 or so.
Man who scratches ass should not bite fingernails
  • #3,884
  • Dec 29, 2006 1:22am Dec 29, 2006 1:22am
Short from 9658 based on an indicator. Rarely more than 20 drawdown, occasonally as much as 40 pips. We will see. If this is a good trade it will turn around before 9700, preferably long before that. I would not be surprised if it turned around by 9580 or so because it has been having a great deal of difficulty getting past that area for the past week.
  • #3,885
  • Dec 29, 2006 1:26am Dec 29, 2006 1:26am
Quoting moonchild
Short from 9658 based on an indicator. Rarely more than 20 drawdown, occasonally as much as 40 pips. We will see. If this is a good trade it will turn around before 9700, preferably long before that. I would not be surprised if it turned around by 9580 or so because it has been having a great deal of difficulty getting past that area for the past week.
not to mention the tl at that level.
Man who scratches ass should not bite fingernails
  • #3,886
  • Dec 29, 2006 1:27am Dec 29, 2006 1:27am
where everyone needs to be careful is the news spike. If it goes against us it can spike past our levels, so if your gonna take this trade prior, make sure it fits your risk profile.
Man who scratches ass should not bite fingernails
  • #3,887
  • Dec 29, 2006 1:30am Dec 29, 2006 1:30am
here is the million dollar question, it it waiting for the news or not???
  • #3,888
  • Dec 29, 2006 1:31am Dec 29, 2006 1:31am
we shold see some sort of a little pullback soon.
Man who scratches ass should not bite fingernails
  • #3,889
  • Dec 29, 2006 1:31am Dec 29, 2006 1:31am
and if they are waiting for the news, which one will move the market, or will both, or neither???
  • #3,890
  • Dec 29, 2006 1:32am Dec 29, 2006 1:32am
Just a wild guess L. It could still go either way. This thing has been acting funny all week. Just have to look at this in every aspect not trying to question anyone just trying to be of some assistance. And my charts are still giving me long signals and price action is still strong.
Quoting Leugimp
I think if it close above 9680 you might be right, but it might just spike above it just to come back down under, depends how much you are willing to find out. I will give it to 9715 or so.
  • #3,891
  • Dec 29, 2006 1:33am Dec 29, 2006 1:33am
i think it just passed!!
  • #3,892
  • Dec 29, 2006 1:34am Dec 29, 2006 1:34am
I messed up a on my trades here tonight and not happy about it. I went long which was good at 9620 but I got out a little early and shorted it at 9650 only to which this sucker go the wrong way on me! The cable is truly a beast of it's own. I need to see this thing go no higher than 79 and pullback for me!
If you can't produce some results and make some serious PIPS, YOU'RE FIRED!
  • #3,893
  • Dec 29, 2006 1:34am Dec 29, 2006 1:34am
Quoting mtrmth
here is the million dollar question, it it waiting for the news or not???
I dont care about the news personally, I will go in at 9673 or if I get a confirmation on reversal, whichever comes first. Enough news has come out recently to support this down move. It is really long overdue. Of course if I'm wrong I'm wrong, but then again, I dont put myself in a position to have to be right all the time.
Man who scratches ass should not bite fingernails
  • #3,894
  • Dec 29, 2006 1:36am Dec 29, 2006 1:36am
can anyone say "channel"
  • #3,895
  • Dec 29, 2006 1:37am Dec 29, 2006 1:37am
As far as my dynamic pivot convergence divergence indicator is concerned, it is almost at bubble status, which if it reaches it and turns, it is as golden a weapon that I have in my arsenal. I will post it if and when it reaches that level.
Man who scratches ass should not bite fingernails
  • #3,896
  • Dec 29, 2006 1:39am Dec 29, 2006 1:39am
just went short @9658
Man who scratches ass should not bite fingernails
  • #3,897
  • Dec 29, 2006 1:39am Dec 29, 2006 1:39am
so far as i have seen in my short stint trading, yes she is a beast, but i think she doesn't like me!!
  • #3,898
  • Dec 29, 2006 1:40am Dec 29, 2006 1:40am
will like to see the recent high hold.
Man who scratches ass should not bite fingernails
  • #3,899
  • Dec 29, 2006 1:49am Dec 29, 2006 1:49am
will there be a reaction to the news at the us market open?? or will that depend on how the eoru makets reacts to the news???
  • #3,900
  • Dec 29, 2006 1:49am Dec 29, 2006 1:49am
Pray tell, am I missing something? Everyone seems to be "sold" on "selling" Earlier today I was talking about flattening around 9600 or possibly retreating to 9560/70 before turning long. This said, I can follow to our current position. Also, as stated 2705/15 is critical for the upside, but, please, what are we seeing to intice us short from our present position (9650/60)??
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