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Cable Update (GBPUSD)

  • #4,521
  • Jan 3, 2007 4:41am Jan 3, 2007 4:41am
Quoting Leugimp
be careful, looks like still some room left to travel south
yeah you might b right but small position; think retrace will go back to 9676 then get back in for short but time will tell
  • #4,522
  • Jan 3, 2007 4:46am Jan 3, 2007 4:46am
The cross pairs are moving with some delay.

Anyway, the fact that the USD is stronger than GBP and also than JPY doesn't mean that GBP is weeker that the JPY.



Quoting moonchild
With cable dropping precipitously and dollaryen rising, although not as strongly, what I have difficulty understanding is why poundyen is not dropping.

Does anyone have any ideas?
  • #4,523
  • Jan 3, 2007 4:47am Jan 3, 2007 4:47am
It is not getting back, buddies... 30 min candle closes in 10
  • #4,524
  • Jan 3, 2007 4:48am Jan 3, 2007 4:48am
Quoting moonchild
With cable dropping precipitously and dollaryen rising, although not as strongly, what I have difficulty understanding is why poundyen is not dropping.

Does anyone have any ideas?
exactly what you said, dollar is gaining accross the board, or in other words, sterling drop and yen drop, so sterling/yen shouldn't move that much - really depending on which one dollar is gaining harder against.
Man who scratches ass should not bite fingernails
  • #4,525
  • Jan 3, 2007 4:49am Jan 3, 2007 4:49am
Quoting Leugimp
be careful, looks like still some room left to travel south
The swissie is 20 pips away from its 3 month old top channel so we're looking at signicant levels.

If the Swissie continues and breaks it, we're looking for cable to get to 1.95 fast. the afternoon data hopefully will help sort the situation out

I also read that SSI data is slowly turning and currently favors dollar longs...

Interesting week so far though
  • #4,526
  • Jan 3, 2007 4:50am Jan 3, 2007 4:50am
may be resuming downward move
  • #4,527
  • Jan 3, 2007 4:50am Jan 3, 2007 4:50am
Quoting Leugimp
be careful, looks like still some room left to travel south
Agreed, i wait 9605 to dump my short, then long to make some pips on retracement to 9650, then short again ........ hope 9507,,,,
I Deeply Love My Virtual Life In Virtual World , RLC
  • #4,528
  • Jan 3, 2007 4:55am Jan 3, 2007 4:55am
Quoting Moe
just sold pound at 1.9709
Im out +76
If I Go Broke Trying Then I Will die happy.
  • #4,529
  • Jan 3, 2007 4:56am Jan 3, 2007 4:56am
bubble indicator hit beginning of extreme reading on down band, will wait for further move and reversal to go long for 40 pips.
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Man who scratches ass should not bite fingernails
  • #4,530
  • Jan 3, 2007 5:01am Jan 3, 2007 5:01am
Quoting SeekingLight
Coolies, me too

Targetting 38.2% of the big swing, expecting some s/r at 1.9660...
if it goes though it should go...we will see.
Need to get some shopping done, someone tell the bank of china to buy back some dollars, thanks
Thanks for coming through guys, came back from shopping and saw it closed for +70. Great job!
EURUSD short still on for a run to see how far it goes, but cable outdid it by twice as much already, so it's just bonus material now

Hope you guys are eager to read that james chart thread now


Btw Habeeb called that EURUSD short there last NIGHT, so big props to him as usual

I'm done for the day, ahead of news, YAY!

Don't overtrade. Best of luck to all of you,

SeekingLight
Trust price. Know yourself.
  • #4,531
  • Jan 3, 2007 5:10am Jan 3, 2007 5:10am
Btw, I find it amazing nobody remembered back to before xmas where at the SAME PRICE the SAME SETUP occured. Same BEOB, same high, it even hit the same 1.9620 s/r zone. I mean, come on, this was a late xmas gift, no?
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Trust price. Know yourself.
  • #4,532
  • Jan 3, 2007 5:23am Jan 3, 2007 5:23am
have positive reversal forming on 4 hr chart, if 4hr chart confirms reversal before a break below 9565, then this chart pattern will be confirmed. Also, if price closes at 9AM above 9640, it should buy us more time for price to break 9565.
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Man who scratches ass should not bite fingernails
  • #4,533
  • Jan 3, 2007 5:40am Jan 3, 2007 5:40am
Forming means : 'is possible'. Right ?
Till the close of the 4h candle are mopre than 60 minutes.:

Let's wait till then.

My oppinion is that this girl will test the 1.9578 today.


Quoting Leugimp
have positive reversal forming on 4 hr chart, if 4hr chart confirms reversal before a break below 9565, then this chart pattern will be confirmed. Also, if price closes at 9AM above 9640, it should buy us more time for price to break 9565.
  • #4,534
  • Jan 3, 2007 5:40am Jan 3, 2007 5:40am
Lastly, I just wanted to post the price channel that contains price action in the medium term( 1600 tick chart). Currently, the bottom of this channel is 9385. Although I am not calling immediately for a move to this level, if we could avoid the positive reversal on the 4 hr chart(this can happen sooner than later if US data is $ positive), then it is likely that we progress down to this level, at which point we can see how non commercial speculative positions have adjusted and go from there. Like was said in an earlier post, it just seems like too many speculators were holding long positions, not really leaving many more left to buy and push price up. It will be interesting to see how this has changed after this week.
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Man who scratches ass should not bite fingernails
  • #4,535
  • Jan 3, 2007 5:41am Jan 3, 2007 5:41am
Quoting sebytim
Forming means : 'is possible'. Right ?
Till the close of the 4h candle are mopre than 60 minutes.:

Let's wait till then.

My oppinion is that this girl will test the 1.9578 today.
correct
Man who scratches ass should not bite fingernails
  • #4,536
  • Jan 3, 2007 5:41am Jan 3, 2007 5:41am
it start fill the gap
I Deeply Love My Virtual Life In Virtual World , RLC
  • #4,537
  • Jan 3, 2007 5:51am Jan 3, 2007 5:51am
9600/03 achieved at -23.6% at last... now wats next...a pullback up a bit before we head down to 9550?
  • #4,538
  • Jan 3, 2007 5:52am Jan 3, 2007 5:52am
Let's see if the 4h tl will hold this movement.
If the price will break it we will finally have a downtrend.
  • #4,539
  • Jan 3, 2007 5:57am Jan 3, 2007 5:57am
i will wait for confirmed reversal on 150 tick chart. should see a pullback afterwards of at least 35-40 pips. This would be the perfect level for it to reverse.
Man who scratches ass should not bite fingernails
  • #4,540
  • Jan 3, 2007 6:08am Jan 3, 2007 6:08am
4h trendline has beem touched.


Quoting sebytim
Let's see if the 4h tl will hold this movement.
If the price will break it we will finally have a downtrend.
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