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Cable Update (GBPUSD)

  • #4,941
  • Jan 4, 2007 5:06am Jan 4, 2007 5:06am
Question now is what the market is doing in anticipation of the upcoming US news... Awaiting steam to knockout the pair or to boost a short term profit taking up....
It is CLEARLY avoiding retracement... Same choppy behaviour as of 9500s
  • #4,942
  • Jan 4, 2007 5:10am Jan 4, 2007 5:10am
$2? Well i never thought it would come! i think it was a way of the americans frightening everyone ( ie fgn govts) off to DUMP the Dollar, which they did! and now dollar is looking bullish so they will come back again. Just like they did in 2005

Guess what they do is Sell Low and Buy High, and the americans benefit to fund their massive deficit - Dont you think it is a clever way to steal money?

It is all manipulations by the americans
  • #4,943
  • Jan 4, 2007 5:10am Jan 4, 2007 5:10am
Quoting de123
i wouldnt be suprised if we get back to 1.9100...why?, 1.95 is broken, and we are still techn. in overbought teritory if looking on weekly or monthly charts, any retracement back to 1.9450 - 1.9500 is just a good oportunity for fresh shorts....or maybe we have reached the ground and the only way is up....who knows?
I'm with you on this one....

1h oscilatting / 4h oversold / daily bearish / weekly turning around from overbought / monthly still overbought
  • #4,944
  • Jan 4, 2007 5:14am Jan 4, 2007 5:14am
Btw, I want to emphasize that I am
1. a beginner still and
2. not giving ANY recommendations or advice on how to trade (enter trades, exit trades or manage your positions, etc).

Any views and opinions expressed by the author are solely his own. The author can not be held liable for any actions taken by other individuals reading his comments or depictions.


Since you never know, huh?
Trust price. Know yourself.
  • #4,945
  • Jan 4, 2007 5:16am Jan 4, 2007 5:16am
After checking the charts I just changed my mind. The market could be getting lazy and greedy and I think a move up just might be in order. fwiw...good luck good trades
  • #4,946
  • Jan 4, 2007 5:20am Jan 4, 2007 5:20am
Quoting Pickensrulz
After checking the charts I just changed my mind. The market could be getting lazy and greedy and I think a move up just might be in order. fwiw...good luck good trades
4h stochastic + Rsi starting to look exhausted and MAY align with 1hr in the next hour or so... Is that what you read?
  • #4,947
  • Jan 4, 2007 5:24am Jan 4, 2007 5:24am
Quoting cesarnc
4h stochastic + Rsi starting to look exhausted and MAY align with 1hr in the next hour or so... Is that what you read?
yes, exactly..plus eur/usd broke above 13100 which had been fairly strong to get through and a "personal" moving avg indicator i use got signaled
  • #4,948
  • Jan 4, 2007 5:30am Jan 4, 2007 5:30am
Quoting Leugimp
ok guys, this badboy is about to break to the upside, 9450 here we come.

got your move
  • #4,949
  • Jan 4, 2007 5:51am Jan 4, 2007 5:51am
Closed GBP longs for 27 pips, may reenter longs again, as a nice divergence on 5/15 min charts
  • #4,950
  • Jan 4, 2007 6:05am Jan 4, 2007 6:05am
I like it hanging 40-50 pips out of 9400. With patience and money management we may see it further back up.

Thoughts?
  • #4,951
  • Jan 4, 2007 6:40am Jan 4, 2007 6:40am
Quoting cesarnc
I like it hanging 40-50 pips out of 9400. With patience and money management we may see it further back up.

Thoughts?
1330 gmt US unemployment number might be high based on ADP number yesterday

1500 gmt new home and factory leaning toward high, pmi neutral

It's stuck between 19420 and 19460 for now with slight bias up.

Possible scenario based on data would be high unemployment sending gbp.usd up, aggressive player could go short before 1500 data or conservative could wait for confirmation of strong numbers....fwiwhttp://www.forexfactory.com/forexfor...cons/icon3.gif
  • #4,952
  • Jan 4, 2007 6:43am Jan 4, 2007 6:43am
that's why I think cable can go south:

1. 200sma is broken downwards (on 4h chart)
2. I agree with SeekingLight (I would like to believe, that it's right) with idea of turn resistance level (about 1.9444) (post #4941)
  • #4,953
  • Edited 7:06am Jan 4, 2007 6:52am | Edited 7:06am
(((parabolic SAR on a dally shows nothing good for going long,...but i dont even know what that indicator means(stop and reverse??), ....so i went short @ 1.9490, tp 1.9350, sl, 1.9505 ˛˛& the fibo fan show me that there will be some strong support @ 1.9300....))) but dont put fingers on me if u woke up & its 2.0
its just money
  • #4,954
  • Jan 4, 2007 7:29am Jan 4, 2007 7:29am
cable should rally a little with the 329k unemployeement. lets see what it does.
  • #4,955
  • Jan 4, 2007 7:37am Jan 4, 2007 7:37am
Quoting bmwboyee
cable should rally a little with the 329k unemployeement. lets see what it does.
Ok, now 9444 playing support... This pair is getting way too much complex for what I can handle as a beginner, I'm sorry, but it's true..

Subjected to the same "USD-factor" as Cable, the Yen is playing much more "by the books". EUR also "mad" but at least a little less volatile...
  • #4,956
  • Jan 4, 2007 7:44am Jan 4, 2007 7:44am
Quoting cesarnc
Ok, now 9444 playing support... This pair is getting way too much complex for what I can handle as a beginner, I'm sorry, but it's true..

Subjected to the same "USD-factor" as Cable, the Yen is playing much more "by the books". EUR also "mad" but at least a little less volatile...
Hopefully it's gonna get really simple in about 73mins. Just buy dollars and relax. http://www.forexfactory.com/forexfor...ons/dollar.gif
  • #4,957
  • Jan 4, 2007 8:04am Jan 4, 2007 8:04am
Quoting Pickensrulz
Hopefully it's gonna get really simple in about 73mins. Just buy dollars and relax. http://www.forexfactory.com/forexfor...ons/dollar.gif
Do u see the bullish divergence at 4 hour?
  • #4,958
  • Jan 4, 2007 8:13am Jan 4, 2007 8:13am
Since I still see a downtrend im thinking we might be hitting 9311. Then a rise back up to ?
trading on demo is not trading
  • #4,959
  • Jan 4, 2007 8:19am Jan 4, 2007 8:19am
Quoting c1ro
Do u see the bullish divergence at 4 hour?
Fundamentals will override that, or anyother, technical indicator. Alot of technical traders won't trade after a data release.
  • #4,960
  • Jan 4, 2007 8:24am Jan 4, 2007 8:24am
Quoting Pickensrulz
Fundamentals will override that, or anyother, technical indicator. Alot of technical traders won't trade after a data release.
So u are so optimist that the upcoming data will be good for US?
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