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Cable Update (GBPUSD)

  • #4,401
  • Jan 2, 2007 7:11pm Jan 2, 2007 7:11pm
Moonchild; I agree with your assessment for the short term. I have a weekly resistance calculated to be just shy of 9750. If we had normal activity I would definitely be looking for a pullback of some sort. As of now, still on hold at least until the Europeans have a chance to show us what they have.
  • #4,402
  • Jan 2, 2007 7:36pm Jan 2, 2007 7:36pm
what's with all the excitment? cable went up 160pips and stopped. now it's just waiting for traders to get in.. why is everyone so stressed? It'll drop off a little and continue that's how the market works.. why guess this and that and stress of this? seems like the end of the world here today.. go have dinner with the family and do what you do normally. This is not all life is about. relax and go take off the xmas lights or something!!
  • #4,403
  • Jan 2, 2007 7:50pm Jan 2, 2007 7:50pm
I'm so glad you cleared everything up for us.:surprised

Quoting yulvme
what's with all the excitment? cable went up 160pips and stopped. now it's just waiting for traders to get in.. why is everyone so stressed? It'll drop off a little and continue that's how the market works.. why guess this and that and stress of this? seems like the end of the world here today.. go have dinner with the family and do what you do normally. This is not all life is about. relax and go take off the xmas lights or something!!
Trade what you see - Not what you think
  • #4,404
  • Jan 2, 2007 8:08pm Jan 2, 2007 8:08pm
Quoting yulvme
what's with all the excitment? cable went up 160pips and stopped. now it's just waiting for traders to get in.. why is everyone so stressed? It'll drop off a little and continue that's how the market works.. why guess this and that and stress of this? seems like the end of the world here today.. go have dinner with the family and do what you do normally. This is not all life is about. relax and go take off the xmas lights or something!!
Stop trying to hog all of the pips. We know your game!
Man who scratches ass should not bite fingernails
  • #4,405
  • Jan 2, 2007 8:35pm Jan 2, 2007 8:35pm
hey L,

it is the year of the pig in japan, so he is just getting a head start! there is alot of data tomorrow and the rest of the week, especially with the fomc minutes and the job numbers. i think the fomc minutes are the big fish, and i think everyone is just setting up for what they think bernake will say, or do they already know??
  • #4,406
  • Jan 2, 2007 8:47pm Jan 2, 2007 8:47pm
As most everyone knows this has been a strong level of resistence and some support just waiting for a break one way or the other.
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  • #4,407
  • Jan 2, 2007 9:29pm Jan 2, 2007 9:29pm
i think that a clear cut reverse head and shoulders...off the dailies u see it as well
  • #4,408
  • Jan 2, 2007 9:39pm Jan 2, 2007 9:39pm
Price is still holding at that resistance point. I agree there will be a break in one direction or another. I'm predicting it will be downwards, but I'm waiting for confirmation first.
  • #4,409
  • Jan 2, 2007 9:49pm Jan 2, 2007 9:49pm
I see a rise to 9750 then dropping to about 9614
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Enzo

“To accomplish great achievement you must first have great tools”.

I posted that in post 4355.... Could I be right for once... Damn I might just be learning...
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trading on demo is not trading
  • #4,410
  • Jan 2, 2007 9:49pm Jan 2, 2007 9:49pm
technicals are just technicals, they might not work but from what i see in price formation thats a bullish consolidation pennant

Quoting mickeymickey
Price is still holding at that resistance point. I agree there will be a break in one direction or another. I'm predicting it will be downwards, but I'm waiting for confirmation first.
  • #4,411
  • Jan 2, 2007 10:06pm Jan 2, 2007 10:06pm
Why 1.9614? What's at that point?

Quoting enzo2325
I see a rise to 9750 then dropping to about 9614
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  • #4,412
  • Jan 2, 2007 10:09pm Jan 2, 2007 10:09pm
I dont know... Just by looking at my 4 hour charts earlier today I did some calculations and I came up with it...??
trading on demo is not trading
  • #4,413
  • Jan 2, 2007 10:21pm Jan 2, 2007 10:21pm
Quoting enzo2325
I dont know... Just by looking at my 4 hour charts earlier today I did some calculations and I came up with it...??
Come on Enzo, at least tell us it is a secret indication, not just a W.A.G !!
  • #4,414
  • Jan 2, 2007 10:22pm Jan 2, 2007 10:22pm
Quoting enzo2325
I dont know... Just by looking at my 4 hour charts earlier today I did some calculations and I came up with it...??
I would have to agree with that idea. It looks like a great forecast to me...
  • #4,415
  • Jan 2, 2007 10:22pm Jan 2, 2007 10:22pm
Quoting enzo2325
I dont know... Just by looking at my 4 hour charts earlier today I did some calculations and I came up with it...??
if it reaches the middle of the price gap, it might as well close it. Lets make it 9600 even.
Man who scratches ass should not bite fingernails
  • #4,416
  • Jan 2, 2007 10:28pm Jan 2, 2007 10:28pm
Quoting Leugimp
if it reaches the middle of the price gap, it might as well close it. Lets make it 9600 even.
Another 150 spread would not break my heart.
  • #4,417
  • Jan 2, 2007 10:29pm Jan 2, 2007 10:29pm
if this price level can hold within ther next 800 ticks and thereafter, the 1600 tick channel will remain intact with this pinnochio bar marking the top. Also, if we can get a close on 150 ticks below 9727, that uptrend line will be deeply violated. further confirming our move south. If a short is placed, be careful with the stop as 9750 is very psychological and there could be a big spike there. I will be positioning soon for this reversal, as soon as confirmation comes - if so, would like to see it in profit prior to ISM so I can strip some off and let rest ride, will probably strip off little as I feel ISM should jump over 50 again.
Man who scratches ass should not bite fingernails
  • #4,418
  • Jan 2, 2007 10:31pm Jan 2, 2007 10:31pm
Well you never know. Things have been crazy. Just looking at my charts ,todays chart was looking like last weeks or the week before. Where it touched 9747 or 50 and came back down. Today I saw this same thing happening. But last time it came down to 9515. I dont think that is going to happen....well, it might...?But I do beleive that next rise will be to 9847....

Then again, what the heck do I know I just started learning...
trading on demo is not trading
  • #4,419
  • Jan 2, 2007 10:36pm Jan 2, 2007 10:36pm
It looks as though there is a USD positive move at present in most of the majors, and as far as I can tell, for no special reason, other than it is just happening.

I am not sure how to justify a number such as 9614, but one thing is certain and that is that there is a lot of USD news coming up. Should it be positive, wold not the area in and around 9500 (actually 9480 to 9500) be a good target since that seems to be a fairly strong support throughout December?
  • #4,420
  • Jan 2, 2007 10:36pm Jan 2, 2007 10:36pm
in @ 26
Man who scratches ass should not bite fingernails
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