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Cable Update (GBPUSD)

  • #4,661
  • Jan 3, 2007 12:55pm Jan 3, 2007 12:55pm
Here we goooo !
  • #4,662
  • Jan 3, 2007 12:56pm Jan 3, 2007 12:56pm
volume is picking up, hang on folks!!!
  • #4,663
  • Jan 3, 2007 12:57pm Jan 3, 2007 12:57pm
Quoting Ghostpipper
hey Kenny whats the price around for that trendline on the GBP you are talking about that it is getting ready to break?
The line is at 9485 on my chart, but these can be off a bit because of the scale on the longer term charts. I would think it would not be below 9470 or so.
  • #4,664
  • Jan 3, 2007 12:59pm Jan 3, 2007 12:59pm
Weekly support is at 9496. This is a calculated # so I feel it is fairly accurate.
  • #4,665
  • Jan 3, 2007 1:00pm Jan 3, 2007 1:00pm
Quoting fxkenny
The line is at 9485 on my chart, but these can be off a bit because of the scale on the longer term charts. I would think it would not be below 9470 or so.
9500 is one strong SOB
  • #4,666
  • Jan 3, 2007 1:04pm Jan 3, 2007 1:04pm
Quoting Tiki Trader
Hey fxkenny... what beach are you there in So Cal ??? I am in Houston now... but always lived in Torrance area, LA. Is the sand warm today?
I am between the pier and harbor in Oceanside. ( North San Diego) And yes, the weather is wonderful !!
  • #4,667
  • Jan 3, 2007 1:04pm Jan 3, 2007 1:04pm
euro went just low enough to take out everyones 50 and 45 SL LMAO
Ghost Swoopen in for my pips while no one is lookin !!
  • #4,668
  • Jan 3, 2007 1:10pm Jan 3, 2007 1:10pm
Nothing much happened... I say we are into retrace for the day.
  • #4,669
  • Jan 3, 2007 1:14pm Jan 3, 2007 1:14pm
Quoting Tiki Trader
Nothing much happened... I say we are into retrace for the day.
in fact price action was $ negative not posative, im guessing it would have tio say something pretty good to keep the GBP to keep going down, now people take there profit im guessing
TP for gbp is 9535 now 23% Fib level just below it
Ghost Swoopen in for my pips while no one is lookin !!
  • #4,670
  • Jan 3, 2007 1:15pm Jan 3, 2007 1:15pm
I think that is it for me. I am staying flat awaiting more decisive indications. Going to play awhile and check back when Asia gets up and running. Been a very good day. Don't want to mess it up now !!
  • #4,671
  • Jan 3, 2007 1:16pm Jan 3, 2007 1:16pm
After no significant movement in the beast post FOMC it's looking like a NY close with a double daily bar (two nearly identical large daily candlesticks). 4 out of 5 times this is a sign of a pretty significant reversal which could test the 50dsma. A break of 232.7 is further confirmation. Any advancements after close should be viewed as a selling opp.

The possible scenario of further declines in gbp.usd mentioned by lots combined with a ceiling of 120 usd/jpy would validate this analysis.

good trades!http://www.forexfactory.com/forexfor...cons/icon3.gif
  • #4,672
  • Jan 3, 2007 1:16pm Jan 3, 2007 1:16pm
euro 23% fib is 3175 or so yes? im hoping it goes to 38% fib of 3200 or so dont see why not
Ghost Swoopen in for my pips while no one is lookin !!
  • #4,673
  • Jan 3, 2007 1:16pm Jan 3, 2007 1:16pm
Quoting Tiki Trader
Nothing much happened... I say we are into retrace for the day.
Where do u think the retrace will be headed?
  • #4,674
  • Jan 3, 2007 1:17pm Jan 3, 2007 1:17pm
i think we will retrace now to 9550s where im thinking of going short again unless EURUSD will tell me otherwise
  • #4,675
  • Jan 3, 2007 1:21pm Jan 3, 2007 1:21pm
I have now my two little tiny long trades in... retrace # 1 to 1.9548 near fib of today and another to 1.9580...
  • #4,676
  • Jan 3, 2007 1:27pm Jan 3, 2007 1:27pm
here is the same chart i keep posting.

We had the DBHLC off the top of the chan as seeking showed, and now we have a possible pin forming towards the lower end of the chan off the 200 ema

Still 30 mins left till the close but lets see

Best
Mike
Attached Image
  • #4,677
  • Jan 3, 2007 1:34pm Jan 3, 2007 1:34pm
Quoting mbqb11
here is the same chart i keep posting.

We had the DBHLC off the top of the chan as seeking showed, and now we have a possible pin forming towards the lower end of the chan off the 200 ema

Still 30 mins left till the close but lets see

Best
Mike
so in yer oppinion Mike what do u see in the charts? especially that 1
Ghost Swoopen in for my pips while no one is lookin !!
  • #4,678
  • Jan 3, 2007 1:35pm Jan 3, 2007 1:35pm
As always, my thank you very much for Leugimp for the daily ride and special thanks to Ghostpipper, fxkenny and mtrmth during these annoucements...

Still learning, building confidence and not loosing money for a good time now. Thanks to all of you for that. No "advisers fee" available, I'm sorry.

Now let's wait for this sleeping bull to get back to business.
  • #4,679
  • Jan 3, 2007 1:40pm Jan 3, 2007 1:40pm
i think we need a cattle prod on him cesar!!
  • #4,680
  • Jan 3, 2007 1:40pm Jan 3, 2007 1:40pm
Quoting Ghostpipper
so in yer oppinion Mike what do u see in the charts? especially that 1
well I dont make any decisions till its confirmed. But from the looks it is still obeying this chan that it created awhile ago. As I stated in previous posts while it was nearing the top, I was looking for price action to tell me wht to do. In the case of the DBHLC, I wasnt just assuming to go short, but with all the resistance using price action to confirm gives you a good shot. Unfortuantly I got very sick last night and missed this huge move, and thats killing me. So now if we ge a pin bar off the lower channel and it confirms, I will look to take a long. Again, we have to wait for all this to happen, this just helps me keep my eye on where to be looking. Price action is more important on where its happening then anything.

Best
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