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Cable Update (GBPUSD)

  • #4,701
  • Jan 3, 2007 2:55pm Jan 3, 2007 2:55pm
Quoting 59fender
looks like support right there 1.9504
Yep agreed, there is big time support at 1.9500 going back till the start of December
Pip Goes The Weasel
  • #4,702
  • Jan 3, 2007 2:57pm Jan 3, 2007 2:57pm
Quoting adrazz
Yep agreed, there is big time support at 1.9500 going back till the start of December
Is Cable ever going to bounce at it?

Too creepy this holding at 9500...
  • #4,703
  • Jan 3, 2007 3:05pm Jan 3, 2007 3:05pm
Quoting cesarnc
Is Cable ever going to bounce at it?

Too creepy this holding at 9500...
We shall have to wait and see, market will be a little stagnant for a few hours
Pip Goes The Weasel
  • #4,704
  • Jan 3, 2007 3:11pm Jan 3, 2007 3:11pm
Could it be that this pair is just going to consolidate instead of retracing and then continue down?

GBP/JPY is currently stalled around 232.70 after having had a very small retracement and it is lower after the retracement than before. This pair has the feel of having made a minimal retracement and then promptly dropped lower than before and is currently consolidating while it waits for the next push down.

These 2 pairs are just not behaving as though they want to go up. It does not matter how much we think they should or that they need to, they just may not do it.
  • #4,705
  • Jan 3, 2007 3:16pm Jan 3, 2007 3:16pm
Quoting moonchild
Could it be that this pair is just going to consolidate instead of retracing and then continue down?

GBP/JPY is currently stalled around 232.70 after having had a very small retracement and it is lower after the retracement than before. This pair has the feel of having made a minimal retracement and then promptly dropped lower than before and is currently consolidating while it waits for the next push down.

These 2 pairs are just not behaving as though they want to go up. It does not matter how much we think they should or that they need to, they just may not do it.
I agree with you totally, however I do feel that untill cable breaks down strongly through the 1.9500 support line, it will retrace back up
Pip Goes The Weasel
  • #4,706
  • Jan 3, 2007 3:18pm Jan 3, 2007 3:18pm
Quoting adrazz
I agree with you totally, however I do feel that untill cable breaks down strongly through the 1.9500 support line, it will retrace back up
May be Asia to handle it... Let's wait & see what NYC is up to....
  • #4,707
  • Jan 3, 2007 3:25pm Jan 3, 2007 3:25pm
Seems to me daily candle will be a long down candle with no wick at the bottom... suggests to me more down to come...

If there is no retrace starting in asia session... I am going to close my long retrace trades and wait to see what happens
  • #4,708
  • Jan 3, 2007 3:47pm Jan 3, 2007 3:47pm
Quoting Tiki Trader
Seems to me daily candle will be a long down candle with no wick at the bottom... suggests to me more down to come...

If there is no retrace starting in asia session... I am going to close my long retrace trades and wait to see what happens
Same here...

May dump part of the lots @ breakeven depending on the retracement speed.
  • #4,709
  • Jan 3, 2007 3:48pm Jan 3, 2007 3:48pm
goodthings should be around soon too.. he know a lot of stats and stuff about GBP retracing
  • #4,710
  • Jan 3, 2007 3:54pm Jan 3, 2007 3:54pm
This is on my MT4 daily update





Cable

RESIS. / SUPPORT Tue/Wed, Jan 3rd STG-1.9735 Tuesday<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

1.9680/ST/1.9525 Patience with the bullish view of exhuastive<o></o>

1.9750/MT/1.9430 rally to 2.01 shud be rewarded. Stay bullish<o></o>

1.9850/LT/1.9350 for break of the 1.9755 pivot pt to add s/t<o></o>

---------------- add confidence. Ideally sup at 1.9640 level<o></o>

will hold or prolong a more complex rnge trade and 1.9550 b-4 up<o></o>
  • #4,711
  • Jan 3, 2007 3:57pm Jan 3, 2007 3:57pm
Quoting Tiki Trader
<o></o>

1.9680/ST/1.9525 Patience with the bullish view of exhuastive<o></o>

<o></o>
Tiki,

I didn't get it... Language limitations. Would you mind?
  • #4,712
  • Jan 3, 2007 4:09pm Jan 3, 2007 4:09pm
I believe it basically says have patience and wait for continued uptrend towards 1.2000

But I think as fixme1too says... down first to 1.9300sss
  • #4,713
  • Jan 3, 2007 4:10pm Jan 3, 2007 4:10pm
Dominant trend still is up...
  • #4,714
  • Jan 3, 2007 4:11pm Jan 3, 2007 4:11pm
Quoting Tiki Trader
Dominant trend still is up...
Thanks!
  • #4,715
  • Jan 3, 2007 4:15pm Jan 3, 2007 4:15pm
hey guys


may be move up to 9560-9580 will go long lets see if 9490-9500 handle holds
  • #4,716
  • Jan 3, 2007 4:18pm Jan 3, 2007 4:18pm
entry 9510 t/p 9560
  • #4,717
  • Jan 3, 2007 4:20pm Jan 3, 2007 4:20pm
There is some impressive divergence on cable 1H chart developing. At present the slow stochastic, for instance, is not at 80 yet, but it really does not matter because it is nearing it and cable has hardly moved from its low. It is a case of a steeply rising stochastic but the price is not increasing. The pair is building a very strong support which if it gets by is going to be a very difficult resistance to get past in the future. This level already had acted as support for several days on the daily chart in December.

Everything I look at is screaming at me that this pair just does not want to retrace, at least not now.

Its cousin poundyen is similarly afflicted. It did a 23.6 retrace but now there is a rising stochastic and the pair is barely making it up to the low prior to the retracement. This is not an indication that the pair wants to do any further retracing and indeed is most consistent with an impending drop.
  • #4,718
  • Jan 3, 2007 4:22pm Jan 3, 2007 4:22pm
Quoting obeewon
entry 9510 t/p 9560
Good to know there's somebody in this boat - with me

What you see? Got some signal ?
  • #4,719
  • Jan 3, 2007 4:25pm Jan 3, 2007 4:25pm
Anybody still SHORT?
"Even the word impossible says that I M possible"
  • #4,720
  • Jan 3, 2007 4:29pm Jan 3, 2007 4:29pm
I am not short, but short may be the good place to be in the end !!!

More things pointing down than up... at this point
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