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Cable Update (GBPUSD)

  • #4,901
  • Jan 4, 2007 3:23am Jan 4, 2007 3:23am
4 hr chart is oversold but the upcoming news seemed to be bad for cable i think. But who knows...
  • #4,902
  • Jan 4, 2007 3:29am Jan 4, 2007 3:29am
what did the services PMI come out at.
Man who scratches ass should not bite fingernails
  • #4,903
  • Jan 4, 2007 3:29am Jan 4, 2007 3:29am
Quoting Leugimp
what did the services PMI come out at.
60.6
mama
  • #4,904
  • Jan 4, 2007 3:35am Jan 4, 2007 3:35am
Quoting monarch
I thought yesterday after the big drop off it would hold, but it just went sideways all day.

Then tonight it went down again, I expect it will hit 38.2% Fibo on the Monthly at 1.9333 area.

I would then contemplate a Long.
Cant figure out why it dropped? anyone? as there was not much in news?
  • #4,905
  • Jan 4, 2007 3:37am Jan 4, 2007 3:37am
Dont know but I just put a long on. Anyone have a good target to reach? I was thinking 9453
trading on demo is not trading
  • #4,906
  • Jan 4, 2007 3:39am Jan 4, 2007 3:39am
This is what I see:

The 1 month triangle formed in December is gone. Besides that - matching with the theory - the breakout down started with a false breakout up.

Cable is now starting to act like it acted during the spike from 8900 to 9800 - but in the opposite direction. Big moves in the trend direction with hours of poor retracement...

Just zoom out your 4hr chart and this picture appears...

I'd appreciate comments on this... Because betting in retracements in this scenario may cost a few bucks - or more
  • #4,907
  • Jan 4, 2007 3:40am Jan 4, 2007 3:40am
jump in @ 19416. looks like favorable pmi number will carry this for a small retracement until consumer number anyway
  • #4,908
  • Jan 4, 2007 3:54am Jan 4, 2007 3:54am
Quoting obeewon
going to take a nap will return about 5am est.. small short position @9525 my plan now; waiting for price to drift higher to 9540 then trigger sell stop add another short position for first target 9460... hope it works


later guys

hello everyone

always feels good to make pips in your sleep..... now going to look for next move
  • #4,909
  • Jan 4, 2007 3:55am Jan 4, 2007 3:55am
second position did not trigger but i am happy with move
  • #4,910
  • Jan 4, 2007 3:56am Jan 4, 2007 3:56am
Maybe.Since on 4H the 200 already break.usually will be a big move for 200 pips.but i'm not so sure about 900 pips.



Quoting cesarnc
This is what I see:

The 1 month triangle formed in December is gone. Besides that - matching with the theory - the breakout down started with a false breakout up.

Cable is now starting to act like it acted during the spike from 8900 to 9800 - but in the opposite direction. Big moves in the trend direction with hours of poor retracement...

Just zoom out your 4hr chart and this picture appears...

I'd appreciate comments on this... Because betting in retracements in this scenario may cost a few bucks - or more
  • #4,911
  • Jan 4, 2007 4:00am Jan 4, 2007 4:00am
Quoting enzo2325
Dont know but I just put a long on. Anyone have a good target to reach? I was thinking 9453
im going for 9451, 9475 and 9515
Man who scratches ass should not bite fingernails
  • #4,912
  • Jan 4, 2007 4:01am Jan 4, 2007 4:01am
Quoting parlenk
Maybe.Since on 4H the 200 already break.usually will be a big move for 200 pips.but i'm not so sure about 900 pips.
Well, we've traded looking at 9550 as resistance. Then 9500 in a 250 PIPS MOVE. Now we've flerting with 9400... 350 PIPS from yesterday's high....

Market seemd to find no big fight between 9000 and 9400 on the way up!!! I see no big time impediment to drop another 400 pips if the downtrend resumes...

Although 4h is oversold, the daily chart barely started bearish, but it's on its way to...

I'm kissing 2.0000 goobye
  • #4,913
  • Jan 4, 2007 4:05am Jan 4, 2007 4:05am
imo looking at 9450-9460 retrace before next move down to at least 9365 and possible lower. ATR looks like lots of momo building to the short side.
  • #4,914
  • Jan 4, 2007 4:05am Jan 4, 2007 4:05am
Quoting cesarnc
Well, we've traded looking at 9550 as resistance. Then 9500 in a 250 PIPS MOVE. Now we've flerting with 9400... 350 PIPS from yesterday's high....

Market seemd to find no big fight between 9000 and 9400 on the way up!!! I see no big time impediment to drop another 400 pips if the downtrend resumes...

Although 4h is oversold, the daily chart barely started bearish, but it's on its way to...

I'm kissing 2.0000 goobye
In my humble opinion that would be a mistake. This move is a shakeout. The fundamentals that drove the dollar down are still in effect. Again, just my opinion and I am not recommending buying at all. lol just an observation
  • #4,915
  • Jan 4, 2007 4:08am Jan 4, 2007 4:08am
Ha ha ha not so fast speedy boy.the puzzle isnt complete yet.as long as the 9350 still not break there is a possibility this market now is just a part of up spike to 2.00



Quoting cesarnc
Well, we've traded looking at 9550 as resistance. Then 9500 in a 250 PIPS MOVE. Now we've flerting with 9400... 350 PIPS from yesterday's high....

Market seemd to find no big fight between 9000 and 9400 on the way up!!! I see no big time impediment to drop another 400 pips if the downtrend resumes...

Although 4h is oversold, the daily chart barely started bearish, but it's on its way to...

I'm kissing 2.0000 goobye
  • #4,916
  • Jan 4, 2007 4:09am Jan 4, 2007 4:09am
Quoting parlenk
Ha ha ha not so fast speedy boy.the puzzle isnt complete yet.as long as the 9350 still not break there is a possibility this market now is just a part of up spike to 2.00
Then I'll get my "kiss goodbye" back
  • #4,917
  • Jan 4, 2007 4:12am Jan 4, 2007 4:12am
Quoting parlenk
Ha ha ha not so fast speedy boy.the puzzle isnt complete yet.as long as the 9350 still not break there is a possibility this market now is just a part of up spike to 2.00
Yet, I can't see how unbeliaveble that could be. Were you slightly considering seeing 9500 24 hour ago? Well we're now fighting to clear 9400, my friend... And 9350 is just behind this door
  • #4,918
  • Jan 4, 2007 4:12am Jan 4, 2007 4:12am
What happens if GB adopts the euro. Is this a possibility in the near future?
Man who scratches ass should not bite fingernails
  • #4,919
  • Jan 4, 2007 4:15am Jan 4, 2007 4:15am
Quoting Leugimp
What happens if GB adopts the euro. Is this a possibility in the near future?
leugimp what do u mean?
  • #4,920
  • Jan 4, 2007 4:17am Jan 4, 2007 4:17am
Woahh!!! :surprised

Is this going to be the first thread on FF to hit 5000 posts?!
Bundy's status today: "Waiting..."
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