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Cable Update (GBPUSD)

  • #40,821
  • Nov 23, 2007 9:30am Nov 23, 2007 9:30am
is it in a small bull rally right now? before it goes down again ?


Thanks
  • #40,822
  • Nov 23, 2007 9:35am Nov 23, 2007 9:35am
Quoting tim1234
is it in a small bull rally right now? before it goes down again ?


Thanks
yeah
  • #40,823
  • Nov 23, 2007 10:05am Nov 23, 2007 10:05am
We have no excuses left to go on being sedentary fatasses

http://te.i.uol.com.br/album/2007-11...20071123130844

MIT develped a laptop which batteries are charged during a bike ride
  • #40,824
  • Nov 23, 2007 10:09am Nov 23, 2007 10:09am
Quoting tim1234
GBP/USD: Grinding Lower As European Squaring Adds Weight London, November 23. A fairly slow ratchet lower an the latest push comes off the back of late European squaring. Thin market conditions continue despite the return of
U.S trade and those with an appetite for action are reportedly eying stops under 2.0500. Sub-2.0550 stops gave weight to the earlier run to down to 2.0535 and the latest dip has reached indicated lows of 2.0515. Little in the way of support until the mid-2.04"s but if the stops are tripped we could see a quick run down after London hours
do your own analysis not sure where you get crap like that but I would not pay any attention to where ever it was who said that, the daily chart clearly shows an up trend
  • #40,825
  • Nov 23, 2007 10:11am Nov 23, 2007 10:11am
damn it I think it wants to go up again...
"Lunch ? Lunch Is For Wimps !"
  • #40,826
  • Edited 10:13am Nov 23, 2007 10:12am | Edited 10:13am
Quoting tim1234
is it in a small bull rally right now? before it goes down again ?


Thanks
Yeah, drunken bulls running rampant on wall street. No need to worry, the bears are waiting to carve them up for a late thanksgiving dinner.
Humble Lifetime Member
  • #40,827
  • Nov 23, 2007 10:17am Nov 23, 2007 10:17am
Quoting 59fender
do your own analysis not sure where you get crap like that but I would not pay any attention to where ever it was who said that, the daily chart clearly shows an up trend
Does weekly chart show up trend ?
  • #40,828
  • Nov 23, 2007 10:31am Nov 23, 2007 10:31am
Quoting 59fender
do your own analysis not sure where you get crap like that but I would not pay any attention to where ever it was who said that, the daily chart clearly shows an up trend
Strategy:[email protected] Sharp spike through the 21-day MA in Asia but 2.0765 capped. Further attempts to gain were thwarted in early Ldn trade at 2.0740 and a sharp drop lower has broken back into the 2.0500s. 2.0515 the low so far with downticking hourly studies showing scope for further weakness still. Lower top now sought by 2.0765 ahead of fresh drop.



Some more, just for you, seeing as u like it so much
  • #40,829
  • Edited 11:05am Nov 23, 2007 10:51am | Edited 11:05am
the intra day trend is down yes,but this is simple consolidation of the up-trend untill we break the low at 2.0257 the trend is up she has already traveled over two-hundred pips just how many are we expecting? we have most lilely seen the low for today.that does not mean it could not go lower sun.but we could also close the gap above 2.0873 also. at any rate i've got pips locked in
Attached Image (click to enlarge)
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  • #40,830
  • Nov 23, 2007 10:53am Nov 23, 2007 10:53am
GBP/USD: UK Fundamentals Can"t be Ignored Despite USD Sentiment New York, November 23. If it weren"t for the strong broad based negative USD sentiment, the rate on the pair would most certainly be a lot lower than it is now. The effects of the successive BoE rate hikes and recent credit crisis have been accelerating with the UK economy continuing to shows signs of significant deterioration. Following the early rally seen in Asia on the back of the extremely light US and Asia holiday trade, the pair managed to resume its losses as the more liquid European session began trade with additional setbacks seen after the surprising downward revision to growth. UK Q3 GDP came in at 0.7 q/q and 3.2% y/y. October BBA mortgage lending also managed to slip to GBP5B from GBP5.9B the previous month, highlighting the impact of the global liquidity crunch.
BoE MPC member Rachel Lomax was also making headlines following her dovish speech from late Thursday. Lomax said that financial turmoil and high oil prices pose a risk to the UK economy, economic growth is slowing, but inflation could rise, though the current interest rate levels may be seen as restrictive.
Technically, the pair remains in a bear channel making a series of lower highs and lower lows following the drop off from the multi-year highs by 2.1160. Today"s spike high failure through the 20-Day SMA at 2.0710 to 2.0765 coincides with the 50% fib retrace off of the 2.1160-2.0355 move and provides an ideal spot for the next lower top. As such, look for the latter to cap ahead of a fresh downside extension through 2.0355
  • #40,831
  • Nov 23, 2007 10:54am Nov 23, 2007 10:54am
Quoting 59fender
the intra day trend is down yes,bit this is simple consolidation of the up-trend untill we break the low at 2.0257 the trend is up she has already traveled over two-hundred pips just how many are we expecting? we have most lilely seen the low for today.that does not mean it could not go lower sun.but we could also close the gap above 2.0873 also. at any rate i've got pips locked in

its a nice trade your in
  • #40,832
  • Nov 23, 2007 11:01am Nov 23, 2007 11:01am
16:59 LATAM: Real Hammered As Investors Pull Out New York, November 23. A conglomeration of negative news on the domestic front seems to have prompted a knee jerk liquidation by overseas investors. A bunch of news items that have all dampened enthusiasm for local equities, none of them serious enough to de-rail the Bovespa's rally on their own, but the weight of all of them together has been sufficient to shift opinion.
News that a Brazilian court has indicted an ex-Cisco systems executive and sixteen other executives on serious import tax evasion charges led off a parade of poor headlines. News that CVRD has had to postpone iron ore shipments because of operational problems caused by heavy rains and problems related to recent protests by the Landless Rural Workers' Movement.
Next week international oil companies bid for Brazil's oil and gas block auction next week, however two weeks ago the government withdrew 41 of the most promising blocks from next Tuesday and Wednesday's auction, claiming a sovereign interest in the area. This has left a negative connotation to the auction process, and has raised doubts as to how successful the auctions will be.
Finally lower than expected Brazilian consumer prices, the IPCA-15 index was little changed at 0.23% in the mid-October to mid-November period bringing the annual inflation rate down to 4.0% from 4.15% and resurrecting speculation that BACEN may resume cutting interest rates again which will erode the interest differential in favour of the Real. Spot USD/BRL has traded as high as 1.8075, and is holding near 1.8030.
  • #40,833
  • Nov 23, 2007 11:01am Nov 23, 2007 11:01am
Damned you cable! should have placed a higher stop loss than 700.

Anyways, it hit support at 2.0520 and now it's in between support and resistance again so I see a range possibly coming on. The first resistance is at 2.0600 based on my charts. It may just drop through the support, but in any case I am out on this pair until I see a better setup. Ranges aren't my strong point.
I dream, therefore I become.
  • #40,834
  • Nov 23, 2007 11:02am Nov 23, 2007 11:02am
OK, its definitely looking bearish. Support within the 2.0475 -0450 region.
  • #40,835
  • Nov 23, 2007 11:12am Nov 23, 2007 11:12am
things should slow considerably from here on out peace 59
  • #40,836
  • Nov 23, 2007 11:49am Nov 23, 2007 11:49am
Bearish my ass.....
"Lunch ? Lunch Is For Wimps !"
  • #40,837
  • Nov 23, 2007 12:08pm Nov 23, 2007 12:08pm
"Don't take that tone with me kid!! I will break your face!!"
I would love to say that to MrFuture, but unfortunate for me, he is right!

Bearish my ass!! What a tragic way to end a great week. Still about 80 pips away from my SL, so hoping for the best.
  • #40,838
  • Nov 23, 2007 12:13pm Nov 23, 2007 12:13pm
Quoting mazdaz
"Don't take that tone with me kid!! I will break your face!!"
I would love to say that to MrFuture, but unfortunate for me, he is right!

Bearish my ass!! What a tragic way to end a great week. Still about 80 pips away from my SL, so hoping for the best.
That was funny. You might be ok, as it is facing all kinds of resistance on the 1 hour chart now. There is no clear direction, however so it may slowly move through the gauntlet or quite possibly move lower again. One word will sum it up, I guess; Range.
I dream, therefore I become.
  • #40,839
  • Nov 23, 2007 12:15pm Nov 23, 2007 12:15pm
Quoting MrFuture
Bearish my ass.....
wakakakak......
rofl

my ass is bearish now......
I Deeply Love My Virtual Life In Virtual World , RLC
  • #40,840
  • Nov 23, 2007 12:16pm Nov 23, 2007 12:16pm
Why did I ever open a position on a Friday, Thanksgiving weekend, is beyond me. Great way to get punished....unbelievable. I had the chance to have a nice weekend of no worries but I HAD to open a trade and screw it up !

AMAZING !!!!!
"Lunch ? Lunch Is For Wimps !"
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