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Cable Update (GBPUSD)

  • #4,681
  • Jan 3, 2007 1:42pm Jan 3, 2007 1:42pm
Quoting Ghostpipper
so in yer oppinion Mike what do u see in the charts? especially that 1
double top with a lower low, lower than the previos low at 1.9518
  • #4,682
  • Jan 3, 2007 1:45pm Jan 3, 2007 1:45pm
Quoting mtrmth
i think we need a cattle prod on him cesar!!
Sorry, don't know what "cattle prod" means...

That's embarassing...

My second challenge in forex is understanding most of what you guys say...

Just kidding. English is not my first language, you know.
  • #4,683
  • Jan 3, 2007 1:47pm Jan 3, 2007 1:47pm
not to mention the nice pins forming on the jpy and chf(off the 365) Nice when all the USD majors line up(not so much the jpy of course)

Man I still can't belive I got sick on this GBP move! I usually never care but boy that was a big time mover! AHH

  • #4,684
  • Jan 3, 2007 1:48pm Jan 3, 2007 1:48pm
Euro retraced to 3170s 23% fib
Chf retraced to 2250 23%fib
JPY retraced to 119.40 23% fib

so whats GBP waiten for she is silly 23% fib for GBP is around 9545 or so

wouldnt the other 3 being as they have done the minimal 23% retrace be a good indicator that the GBP will do it as well?

Of coarse i know market doesnt have to do anything so spare me that jibber jabba please

real oppinions please
Ghost Swoopen in for my pips while no one is lookin !!
  • #4,685
  • Jan 3, 2007 1:49pm Jan 3, 2007 1:49pm
the needle is stuck on your chart... tap it a little... my GBP is already up
  • #4,686
  • Jan 3, 2007 1:50pm Jan 3, 2007 1:50pm
Unless there is an event specifically affecting yen pairs, I usually look at these 2 pairs in tandem.

I find it enlightening that poundyen has retraced to 23.6 fib and looks to be continuing down again. It makes me suspicious that cable may do something similar, and if cable continues down it is most likely to the area of 9340-9360. As to how far poundyen will go, I may have to reevaluate since there are things suggesting that it may go a very long way down--or maybe not so far. In any case, as of now there has just not been much of an effort by cable to retrace. I think all it has given is something like 30 pips, which after a 250 pip move is negligeable. I am beginning to wonder whether the retracement may not be delayed until it goes further down still. Unlikely, but I guess anything is possible.
  • #4,687
  • Jan 3, 2007 1:52pm Jan 3, 2007 1:52pm
Quoting Tiki Trader
the needle is stuck on your chart... tap it a little... my GBP is already up
unless at around 9:45 central time when it hit 9537 , if thats considered retrace to 23% fib but it went lower after that


ur needle must be messes up she never went above 9517 for me
Ghost Swoopen in for my pips while no one is lookin !!
  • #4,688
  • Jan 3, 2007 1:53pm Jan 3, 2007 1:53pm
I agree... it is like it really wants to go down... I am leery too
  • #4,689
  • Jan 3, 2007 1:55pm Jan 3, 2007 1:55pm
ya ya just jokin about the needle...

I am measuring my fibs by the lowest low so far today.

Your dot is red... I guess mine is next
  • #4,690
  • Jan 3, 2007 1:58pm Jan 3, 2007 1:58pm
Is this from the day's high to the day's low? Euro hasn't retraced yet to 23% fib in my chart.

Quoting Ghostpipper
Euro retraced to 3170s 23% fib
  • #4,691
  • Jan 3, 2007 2:01pm Jan 3, 2007 2:01pm
Quoting mbqb11
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

mbqb11
Is the pin bar confirmed?
  • #4,692
  • Jan 3, 2007 2:01pm Jan 3, 2007 2:01pm
looks like support right there 1.9504
  • #4,693
  • Jan 3, 2007 2:04pm Jan 3, 2007 2:04pm
Quoting REPApips
Is this from the day's high to the day's low? Euro hasn't retraced yet to 23% fib in my chart.
on my chart it flirted with it right at 3174 high of 19:00 today

i took high of 3295 a bit higher than todays high i guess
Ghost Swoopen in for my pips while no one is lookin !!
  • #4,694
  • Jan 3, 2007 2:04pm Jan 3, 2007 2:04pm
guys, add 200SMA to you charts. possible support line... just an idea. any comments?
  • #4,695
  • Jan 3, 2007 2:08pm Jan 3, 2007 2:08pm
Trend line from 10-16-06 thru 11-16-06 next support should be approx 1.9400
{Link Removed Rule #3}
  • #4,696
  • Jan 3, 2007 2:10pm Jan 3, 2007 2:10pm
Quoting sarama001
mbqb11
Is the pin bar confirmed?
the pin bars on the USD pairs are not ideal. The most ideal one is over at the USD/JPY. The placement of the GBP and CHF are nice tho, on the 200 and 365 respectivley
  • #4,697
  • Jan 3, 2007 2:10pm Jan 3, 2007 2:10pm
OK, thanks.



Quoting Ghostpipper
on my chart it flirted with it right at 3174 high of 19:00 today

i took high of 3295 a bit higher than todays high i guess
  • #4,698
  • Jan 3, 2007 2:16pm Jan 3, 2007 2:16pm
I see the BUOVB at 1 hour chart. am I wrong?
  • #4,699
  • Jan 3, 2007 2:21pm Jan 3, 2007 2:21pm
Quoting c1ro
I see the BUOVB at 1 hour chart. am I wrong?
c1ro,

please, make it clear, what BUOVB is?
  • #4,700
  • Jan 3, 2007 2:26pm Jan 3, 2007 2:26pm
Quoting c1ro
I see the BUOVB at 1 hour chart. am I wrong?
As seen on James16 thread.
4h also seems to have formed a sort of pin bar. But euro and swissy aren't 100% as convincing. However usdjpy pinned bearish, so hey, we might get a bit of a move back.
Normal entry would be on either a retrace or when it breaks. Not much stop to risk down here, but 1h isn't exactly reliable, especially when it comes from news and in 2.5 hours we will have a bearish engulfing daily candle that engulfs 4 or 5 weekdays. Ahem. Not very bullish to me

I'm done with cable for today, waiting for London.
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