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Cable Update (GBPUSD)

  • #41,501
  • Nov 27, 2007 8:37pm Nov 27, 2007 8:37pm
it looks like it's going downnnnn...there was major resistance at about 2.075, it opened under the day's pivot, stochastic is down and the 5ema crossed the 8ema on the 4hr chart....the only long opportunity i see is a possible 200ema bounce off a retracement (4 hr chart also)...umm it seems semi-correlated w/ the other 3 majors....EURUSD/GBPUSD down, USDJPY/USDCHF up

and although it's about 12 hrs from now, it looks like the durable goods report for USD is good, strengthening it against GBP

what does everyone else think?
The odds are on my side; let's hope they stay that way!!!
  • #41,502
  • Nov 27, 2007 8:43pm Nov 27, 2007 8:43pm
Minor support at 641.
"Invest With The Insiders, Not The Masses" George Muzea
  • #41,503
  • Nov 27, 2007 8:47pm Nov 27, 2007 8:47pm
I got small support at 635, but it should break it easily and continue down...
"Lunch ? Lunch Is For Wimps !"
  • #41,504
  • Nov 27, 2007 8:56pm Nov 27, 2007 8:56pm
Quoting Qu|cksilver
and don't miss this oppourtunity!
I short since 2.0745 with you. Currently 102 pips please let me know when you close. You are very impressive!

The "Master"
Thanks.
  • #41,505
  • Nov 27, 2007 9:11pm Nov 27, 2007 9:11pm
Quoting McDonald
I short since 2.0745 with you. Currently 102 pips please let me know when you close. You are very impressive!

The "Master"
Thanks.
hmm... good luck to you.
"Invest With The Insiders, Not The Masses" George Muzea
  • #41,506
  • Nov 27, 2007 9:28pm Nov 27, 2007 9:28pm
pound/yen looks to go higher should drag pound/dollar with it
  • #41,507
  • Nov 27, 2007 9:28pm Nov 27, 2007 9:28pm
when london open - you will see big drop - and drop

with great speeddddddddddd

DOWN all the way!!!!!!!!
  • #41,508
  • Nov 27, 2007 9:45pm Nov 27, 2007 9:45pm
what is the correlation between GBPJPY and GBPCHF....they seem to follow each other for the most part

if GJ is going up, do you think GC will follow?
The odds are on my side; let's hope they stay that way!!!
  • #41,509
  • Edited 10:19pm Nov 27, 2007 9:47pm | Edited 10:19pm
Closed all my short at 641 and i'm going long from there just with small lot. My system shows price exactly bouce at 641 and going long.

Maybe will continue the short later when london open or US open or tomorrow.

I'm breakeven now.

Don't follow me i might be 100% wrong
"Invest With The Insiders, Not The Masses" George Muzea
  • #41,510
  • Nov 27, 2007 9:48pm Nov 27, 2007 9:48pm
I'm seeing constriction in the yen pairs. I think this is the start of a major sustained correction in the currency market.
  • #41,511
  • Nov 27, 2007 10:19pm Nov 27, 2007 10:19pm
What should i say now? Long Cable Long?? or Down Cable Down???
"Invest With The Insiders, Not The Masses" George Muzea
  • #41,512
  • Nov 27, 2007 10:19pm Nov 27, 2007 10:19pm
does anyone know when is the best time to trade the gbp/usd? is it the london session or the ny session?

thanks in advance!!
  • #41,513
  • Nov 27, 2007 10:23pm Nov 27, 2007 10:23pm
Quoting Qu|cksilver
What should i say now? Long Cable Long?? or Down Cable Down???
LONG CABLE LONG !!!
"Invest With The Insiders, Not The Masses" George Muzea
  • #41,514
  • Nov 27, 2007 10:26pm Nov 27, 2007 10:26pm
p/y pin bar 1 hr chart looks to go higher still must break 224.26 to confirm
  • #41,515
  • Nov 27, 2007 10:31pm Nov 27, 2007 10:31pm
Quoting Qu|cksilver
LONG CABLE LONG !!!

but why?
  • #41,516
  • Nov 27, 2007 10:39pm Nov 27, 2007 10:39pm
Quoting AmeriTrini
but why?

Multiple bounces off 640 (perfect double bottom(s) as well) which is also a 50% fib level.
  • #41,517
  • Nov 27, 2007 10:42pm Nov 27, 2007 10:42pm
Quoting 59fender
p/y pin bar 1 hr chart looks to go higher still must break 224.26 to confirm
Also just barely touched the 61 fib and went back up, with no resistance at all, so we will see if this is a good support point.
  • #41,518
  • Nov 27, 2007 10:45pm Nov 27, 2007 10:45pm
Quoting ScottH
Multiple bounces off 640 (perfect double bottom(s) as well) which is also a 50% fib level.
how did you determine the fib?
  • #41,519
  • Nov 27, 2007 11:20pm Nov 27, 2007 11:20pm
Quoting Qu|cksilver
LONG CABLE LONG !!!
I agree and I think it is going to be a major long. There is a major wege forming on the 4H and 1H. From the peak of 8 Nov to yesterday and from the low of 17th to yesterday. This is pinnig cable right into that wedge and as the Long term trend is up, I think it will break long today some time.
  • #41,520
  • Nov 27, 2007 11:21pm Nov 27, 2007 11:21pm
p/y 224.11 short scalp
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