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Cable Update (GBPUSD)

  • #4,861
  • Jan 4, 2007 12:20am Jan 4, 2007 12:20am
Quoting Leugimp
my bubble indicator looks like its going to burst on the 400 tick chart, can sometimes give hint of large retracement, perhaps 100 pips up to 9550 area.
I read all oversold including 4hr chart, where 200EMA is gone by 40 pips now!
  • #4,862
  • Jan 4, 2007 12:24am Jan 4, 2007 12:24am
It just a habit on frankfurt opening hour.not exactly the same every day but mostly.2 cent worth



Quoting c1ro
Whats wrong with cable?? start going down??
  • #4,863
  • Jan 4, 2007 12:25am Jan 4, 2007 12:25am
Quoting cesarnc
I read all oversold including 4hr chart, where 200EMA is gone by 40 pips now!
lets see how it closes @5AM ET. if above 9485, retracement scenario can still be intact prior to a larger selloff. I'm waiting for my 400 tick to turn to take the retracement trade, although using only 1/4 the normal sizing being it is counter trade.
Man who scratches ass should not bite fingernails
  • #4,864
  • Jan 4, 2007 12:25am Jan 4, 2007 12:25am
This is crapola! I have been doing so well and since the beginning of this week it's as if I've never traded before as the cable is doing the exact opposite every single time I line up a trade! What the HECK!
If you can't produce some results and make some serious PIPS, YOU'RE FIRED!
  • #4,865
  • Jan 4, 2007 12:25am Jan 4, 2007 12:25am
Well, I couldnt sleep just had a feeling something was going on and boy am I happy

78pips!
trading on demo is not trading
  • #4,866
  • Jan 4, 2007 12:25am Jan 4, 2007 12:25am
Quoting parlenk
It just a habit on frankfurt opening hour.not exactly the same every day but mostly.2 cent worth
Interesting... USDJPY barely changed
  • #4,867
  • Jan 4, 2007 12:29am Jan 4, 2007 12:29am
If it is collecting stops, it is likely to reach 9430s, as of DEC 18....a nice place to let a SL to be raped
  • #4,868
  • Jan 4, 2007 12:29am Jan 4, 2007 12:29am
Quoting parlenk
It just a habit on frankfurt opening hour.not exactly the same every day but mostly.2 cent worth
I miss the boat do u think it will go down further?
  • #4,869
  • Jan 4, 2007 12:30am Jan 4, 2007 12:30am
draw a trendline from 12/20/06 to 1/3/07 and now slide it down on same angle to low on 12/18/06 and you will notice that it forms a symetrical channel through where price is now - could be the formation of a channel - will watch for a spike or reversal here to perhaps get on ahead of time. Should find support around 45-46
Man who scratches ass should not bite fingernails
  • #4,870
  • Jan 4, 2007 12:31am Jan 4, 2007 12:31am
Quoting cesarnc
Interesting... USDJPY barely changed

Majors down, usdjpy same => crosses lower. Normal behavior and just what I meant with my post yesterday about the crosses and USD pairs not all being 100% correlated unlike one would think. See this a lot with nippy.
Check out the james16 thread, there were setups to short both EJ and GJ and that's what USDJPY is needed for atm.
Trust price. Know yourself.
  • #4,871
  • Jan 4, 2007 12:35am Jan 4, 2007 12:35am
Think this is going to go down to 9415 before rising up
trading on demo is not trading
  • #4,872
  • Jan 4, 2007 12:36am Jan 4, 2007 12:36am
Then I will Long for the next couple days!!
trading on demo is not trading
  • #4,873
  • Jan 4, 2007 12:38am Jan 4, 2007 12:38am
Next support I have calculated is at 9424. After that minor at 9415.
  • #4,874
  • Jan 4, 2007 12:38am Jan 4, 2007 12:38am
I see support at 1.9385, would exit at 1.9405 to be safe.
  • #4,875
  • Jan 4, 2007 12:39am Jan 4, 2007 12:39am
I'm on long @9450 with stop at close on 1600 tick below 9440- looking to get up to 9500.
Man who scratches ass should not bite fingernails
  • #4,876
  • Jan 4, 2007 12:41am Jan 4, 2007 12:41am
Potential new channel forming - there is divergence forming everywhere, bubble indicator to pop and symetrical with upper tl so I'm gonna use this to play the retrace to 9500.
Attached Image
Man who scratches ass should not bite fingernails
  • #4,877
  • Jan 4, 2007 12:43am Jan 4, 2007 12:43am
Quoting monarch
I see support at 1.9385, would exit at 1.9405 to be safe.
I can concur with Monarch on the support #. I calculated the 1st monthly and get 9383. Should be fairly strong.
  • #4,878
  • Jan 4, 2007 12:45am Jan 4, 2007 12:45am
Quoting Leugimp
Potential new channel forming - there is divergence forming everywhere, bubble indicator to pop and symetrical with upper tl so I'm gonna use this to play the retrace to 9500.
make it 9497 as there is a fib cluster there right now.
Man who scratches ass should not bite fingernails
  • #4,879
  • Jan 4, 2007 12:45am Jan 4, 2007 12:45am
As posted here
Attached Image
Trust price. Know yourself.
  • #4,880
  • Jan 4, 2007 12:46am Jan 4, 2007 12:46am
I went short at the first sign of the break, and got out at 9440. There's a trendline. The price is coming up on a previous trendline, Daily S1, Weekly S2, and it's low since the beginning of December. I got out and I'm going to wait until signs of retracement or breaking of the supports before I get back in.
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