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Cable Update (GBPUSD)

  • #3,941
  • Dec 29, 2006 3:09am Dec 29, 2006 3:09am
Thanks L. Till next year. Be safe
Quoting Leugimp
I am aiming for 9515 today. A hefty objective but I already dumped half and will let the rest ride. Goodnight guys and happy new years.
  • #3,942
  • Dec 29, 2006 3:13am Dec 29, 2006 3:13am
anybody has an idea how much mortgage equity withdrawal will affect GBP?
  • #3,943
  • Dec 29, 2006 3:14am Dec 29, 2006 3:14am
Are U guys expecting a considerable move for this 9:30GMT news?
  • #3,944
  • Dec 29, 2006 3:20am Dec 29, 2006 3:20am
Quoting cesarnc
Are U guys expecting a considerable move for this 9:30GMT news?
Not sure how much weight it carries. I would think if the number varies from expected by a good margin we could see a hefty move in a thin market. Just my thought. Not really sure.
  • #3,945
  • Dec 29, 2006 3:23am Dec 29, 2006 3:23am
Quoting fxkenny
Not sure how much weight it carries. I would think if the number varies from expected by a good margin we could see a hefty move in a thin market. Just my thought. Not really sure.
Indicators seems ready for a spike up....
  • #3,946
  • Dec 29, 2006 3:24am Dec 29, 2006 3:24am
Cesarnc I am not a news guy, but i just kinda keep an eye on it just to know what is happening. But I would think anything Neg would send this down. Positive news maybe a little push up. My reasoning is that the UK is expecting a rate hike and with US having postive data the markets outlook on their rate cut is decreasing, thierfore any neg. data from the UK will hurt the chance of a rate increase for the UK.
Quoting cesarnc
Are U guys expecting a considerable move for this 9:30GMT news?
  • #3,947
  • Dec 29, 2006 3:36am Dec 29, 2006 3:36am
I haven't seen the number for the equity withdrawel, but mortgage approvals were up quite a bit. It appears it was a non-event anyway !!
  • #3,948
  • Dec 29, 2006 3:38am Dec 29, 2006 3:38am
guess not maybe the Consumer Confidence numbers in another hour. market is really flat now.
Quoting fxkenny
I haven't seen the number for the equity withdrawel, but mortgage approvals were up quite a bit. It appears it was a non-event anyway !!
  • #3,949
  • Dec 29, 2006 3:58am Dec 29, 2006 3:58am
I've been posting about JPY here and no one seems to care... So I want to know whether or not I may be wrong on this:

- I´m noticing the following patterns in the last two days:

- JPY is bumping heavily at 119.0, a very strong resistance that seems to be the same psicological barrier as 9700 or even 9800...
- Every move from 118.85 to 118.97 is followed by a sharp down on Cable, like 2 minutes after. Every time.
- On yesterday's news, even with noticeable good news, JPY failed at 118.99 for SEVERAL HOURS, while Cable was sitting at 9590-9600. When JPY retraced, Cable retraced 2 min after.

Seems to me that "Buying or selling USDJPY" is the driving force, for while Cable is not ranging between psicological barriers, JPY is fighting with an important milestone...

If it breaks this 119.0 up, the fuel to boost Cable
up will vanish...

Just trying to keep a broader view here, since in the end of the day, all pairs are somehow tied with each other...

Comments while Cable sleeps are welcome.... And please, prove me wrong because this little 15min USDJPY chart in my screen is driving me nuts here!
  • #3,950
  • Dec 29, 2006 4:11am Dec 29, 2006 4:11am
http://www.forexfactory.com/forexfor...cons/icon1.gif I insist on this

take a look at the usd.jpy daily candlestick chart. A nice reversal formation is setting up. On my platform 119.03 is daily hi matching yesterday's high at 119.03 and on two days prior to that that daily highs were 119.21. If topside failure holds I'm targeting around 117 first. Good luck, Good trades
  • #3,951
  • Dec 29, 2006 4:15am Dec 29, 2006 4:15am
Quoting Pickensrulz
http://www.forexfactory.com/forexfor...cons/icon1.gif I insist on this

take a look at the usd.jpy daily candlestick chart. A nice reversal formation is setting up. On my platform 119.03 is daily hi matching yesterday's high at 119.03 and on two days prior to that that daily highs were 119.21. If topside failure holds I'm targeting around 117 first. Good luck, Good trades
WOW, thanks Picken. That brought me a nice view of the picture. If this reversal takes place, we will then see Cable being rocketed.

And just saw that the same pattern happened by the end of 2005, but in the opposite direction
  • #3,952
  • Dec 29, 2006 4:22am Dec 29, 2006 4:22am
WOW, thanks Picken. That brought me a nice view of the picture. If this reversal takes place, we will then see Cable being rocketed.

And just saw that the same pattern happened by the end of 2005, but in the opposite direction <!-- / message --><!-- sig -->

__________________
"Scalping-the-living-hell-out-of-this-baby" mindset

Glad to help mate. I just found this site and joined. I've looked over some of the posts and I'm sure you'll be able to give me some perspective when I need it!http://www.forexfactory.com/forexfor...ons/icon12.gif
  • #3,953
  • Dec 29, 2006 4:34am Dec 29, 2006 4:34am
How about this?

http://www.forexfactory.com/forexfor...id=17809&stc=1

Quoting cesarnc
Next few hour will tell...


I think a new channel was to be formed like the previous, but the unexpected good news yesterday blew it.
Attached Image
  • #3,954
  • Dec 29, 2006 4:41am Dec 29, 2006 4:41am
[quote=REPApips]How about this?

Makes sooo much sense, doesn't it?

Now, do this: Draw my last channel (ended yesterday) with yours... Will explain so many things rssss....

And your channel makes sense with JPY forecast (few posts above), and timely.

2007 will give us a lot of rock'n'roll....
  • #3,955
  • Dec 29, 2006 4:43am Dec 29, 2006 4:43am
im short @1.9619 on a demo, future ofcourse , i will not trade with real money in a tiny market,...we should trade sideways unless u trully believe in santa
its just money
  • #3,956
  • Dec 29, 2006 4:45am Dec 29, 2006 4:45am
Quoting Pickensrulz
WOW, thanks Picken. That brought me a nice view of the picture. If this reversal takes place, we will then see Cable being rocketed.

And just saw that the same pattern happened by the end of 2005, but in the opposite direction <!-- / message --><!-- sig -->

__________________
"Scalping-the-living-hell-out-of-this-baby" mindset

Glad to help mate. I just found this site and joined. I've looked over some of the posts and I'm sure you'll be able to give me some perspective when I need it!http://www.forexfactory.com/forexfor...ons/icon12.gif


I do not doubt that USD/JPY will fall, but it can do it either because of a failure of the USD or because the yen is grossly undervalued. If it falls because of an increase in the value of the yen, you do not necessarily see cable going up.

If you look, you will notice that with the exception of AUD/JPY, all the other yen pairs are off their highs. This would suggest that it is due to facours affecting the yen rather than all of the other pairs.
  • #3,957
  • Dec 29, 2006 4:48am Dec 29, 2006 4:48am
Quoting Leugimp
By the way, this week is an inside bar. Next week should be fun.
Or whippy as s/r to both sides kicks in
Also monthly wasn't exactly huge, either....

But agreed, we should reach a decision soon, either move to the bigger retrace fibs or see where it can go.

Back to today, I'm attaching a chart where the bears could have gotten in.

I'm not so well so I slept in today. Currently don't see a setup as any potential outer swing areas to enter already passed me by.
Attached Image
Trust price. Know yourself.
  • #3,958
  • Dec 29, 2006 5:01am Dec 29, 2006 5:01am
Short-term look at the Pound

GBP/USD

Here is a short-term look at the British poulnd
for tommorow , the last tradinhg day of the year 2006

////////////////////////////////////////////////////////////////////

Chart #1

Tommorow We see ! .....Its all about breaking the neckline area !
Attached Image
  • #3,959
  • Dec 29, 2006 5:04am Dec 29, 2006 5:04am
Please excuse typo in the post above .....

I just stared in this forum a few days ago
the system does not let me go back and correct spelling errors.

-----------------------------------------------------------------------

Why do they do that ?
  • #3,960
  • Dec 29, 2006 5:07am Dec 29, 2006 5:07am
Quoting marketwavez
Please excuse typo in the post above .....

I just stared in this forum a few days ago
the system does not let me go back and correct spelling errors.

-----------------------------------------------------------------------

Why do they do that ?

It does, just click on the bottom right icon in the corner of your post that has the tooltip "edit/delete message"
The symbol of the pen/pencil on paper
Trust price. Know yourself.
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