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Cable Update (GBPUSD)

  • #4,981
  • Jan 4, 2007 8:00am Jan 4, 2007 8:00am
Quoting Ghostpipper
question for everyone

ok GBP closed 14:00 at 9441

9450 is 38% fib on my chart for this last nights move

if it closes under 9450 would that be a bearish indicator or not really?
Ghost; My take is that the currency may have found a neutral zone to rest in awaiting the NFP #'s in the morning. Not unusual for trading to get quiet prior to that release. This could be especially true as we are still experiencing the effects of the holiday market. In direct response to your question I would say I don't really know if this particular event would be construed as bearish. I would certainly not think it is a bullish indication though. Sounds like a politician trying to talk out of both sides of his mouth !! Any way, I am still cautiously bearish expecting to see low to mid 9300's before the end of the week. I have a small short position at this time.
  • #4,982
  • Jan 4, 2007 8:02am Jan 4, 2007 8:02am
also look at the 30 min, a nice falling wedge, and each of the last few candles is HL, and break of the upper trendline will take it higher
  • #4,983
  • Jan 4, 2007 8:06am Jan 4, 2007 8:06am
Be careful guys, this will burst to the upside soon. Some confluence @ 9475-9482 but once past there I think we should move up to 9520-9530 level, may be a good short just below that as I doubt price will pass strong resistance at that level.
Man who scratches ass should not bite fingernails
  • #4,984
  • Jan 4, 2007 8:07am Jan 4, 2007 8:07am
Quoting marwan2010
Hello 007, Yes you are right this is probably one of the best forum, lot of constructive comments, and what's more no whinging and negative posts. so it's not how many members you have but the quality of the posts. So keep it up FF -

The other forum I started using recently is fx-forum.net, some great live trades by couple of guys. One guy, barry is putting on live trades as it happens and last 2 days has made 500 pips! - been following him, and must say very educational. seeing is beileving, virtually most trades were posted withing few minutes

As for Cable, I went long again and closed half for 30 pips. I am beigging to take a bullish view, and yes there are some great divergences on most time frames. But have a look at the 4 hour chart, a nice channel and you have had 2 bounces. Looks like the baby wants to go up, but if the channel breaks than yes a down move of 300+ is on cards





Sorry. Thanks for the reply. I've checking charts and hovering over the kill button.
Follow the money. Follow the money. Follow the money.
  • #4,985
  • Jan 4, 2007 8:08am Jan 4, 2007 8:08am
Quoting Leugimp
Be careful guys, this will burst to the upside soon. Some confluence @ 9475-9482 but once past there I think we should move up to 9520-9530 level, may be a good short just below that as I doubt price will pass strong resistance at that level.
why do u say it will burst up L?
Ghost Swoopen in for my pips while no one is lookin !!
  • #4,986
  • Jan 4, 2007 8:12am Jan 4, 2007 8:12am
BAH not 2 minutes after i set my TP to BE at 9439 it goes to 22 wtf
within 3 seconds from 37 to 20something 10 pip jump, thats gay.....

what i was saying before sounds good now doesnt it?
Ghost Swoopen in for my pips while no one is lookin !!
  • #4,987
  • Jan 4, 2007 8:14am Jan 4, 2007 8:14am
becareful
Trade what you see, not what you think.
  • #4,988
  • Jan 4, 2007 8:16am Jan 4, 2007 8:16am
Quoting karmostaji
becareful
im not getting back in that would be stupid... but come on 2 minutes after i set to break even...... lost out on $300 err hiow annoying.....

least i didnt get stopped out with that ism move up was 1 pip away from getting stopped out lol
Ghost Swoopen in for my pips while no one is lookin !!
  • #4,989
  • Jan 4, 2007 8:21am Jan 4, 2007 8:21am
Quoting Ghostpipper
im not getting back in that would be stupid... but come on 2 minutes after i set to break even...... lost out on $300 err hiow annoying.....

least i didnt get stopped out with that ism move up was 1 pip away from getting stopped out lol
I think flat is not a bad place to be. I have a small short open but may close it if we don't see something soon. Remember, no position is actually taking a position not to have one.
  • #4,990
  • Jan 4, 2007 8:56am Jan 4, 2007 8:56am
(((((when i was trading...when something doesnt go up it will go down, in overbought market...i made a lot of real money, and its easier to catch highs then lows in bearish actually...)))))
its just money
  • #4,991
  • Jan 4, 2007 8:58am Jan 4, 2007 8:58am
Well, for the past 2 hours it has been ranging from 19456-19434 22 pips differnece. I really dont know which way its going but I have had a short trade placed. 1.9440 is a killer man! What the heck....
trading on demo is not trading
  • #4,992
  • Jan 4, 2007 9:02am Jan 4, 2007 9:02am
Dont trade if we are unsure. There always tomorrow
  • #4,993
  • Jan 4, 2007 9:03am Jan 4, 2007 9:03am
Looking at my charts in all different time frames It MUST go down. Tp 9378
trading on demo is not trading
  • #4,994
  • Jan 4, 2007 9:05am Jan 4, 2007 9:05am
Looks like the price just follow it's 20 ema in 30 mins chart with no clear direction
  • #4,995
  • Jan 4, 2007 10:33am Jan 4, 2007 10:33am
Quoting stonie
Dont trade if we are unsure. There always tomorrow
Very true
Pip Goes The Weasel
  • #4,996
  • Jan 4, 2007 10:47am Jan 4, 2007 10:47am
Today's spark fom 9500 to 9400 messed with the charts big time... I used to read about fibs and channels like a week ago. Now I read "divergences" and "with no clear direction" ...

It's hard to tell now whether or not it was an overall market trend, since there are big boys reported as "on vacation" yet - easing that kind of easy ride..

In the other hand, this move alone has placed the market 50-100 pips below 200 EMA - not that below, but yet, below it, and staying... and enjoying...

Yen staying very close to a reported "Huge Resistance - 120.00", what may get in the way in case of USD bullish...

To make our lives a little bit harder, there's NFP tomorrow...

The puzzle is to be solved....

Going to the gym to get rid of my Forex-related-toxins...

See you

César
  • #4,997
  • Jan 4, 2007 11:34am Jan 4, 2007 11:34am
I see cable coming down to 9350 before moving back up based on the Daily Charts.
  • #4,998
  • Jan 4, 2007 12:15pm Jan 4, 2007 12:15pm
hey L,

looks like we are sitting between you and monarch and your predictions. now all it has to do is make a choice!! looks like it is setting up for roller coaster tonight. you agree??
  • #4,999
  • Jan 4, 2007 12:22pm Jan 4, 2007 12:22pm
time has a way of making data look flat and boring - look at tick charts on different time frames and things wont look so obscure. We are still at the bottom of the channel, still haven't hit the trendline - which right now is in the 9380 area, however, i feel we are very much due for more of a retrace - the 4 hr is confirming a turn now although not decisively so. Nevertheless there is a cluster around the 9475 area and we havent been able to pass it yet. The general move should be up from here - but my risk will be a close under 9380 on the 1600 tick. The initial target on the move would be midpoint of channel in case it reverses and down trend proves prominent. Midpoint is 1.9550. fibo cluster around there though may prevent that from being reached so that is why I aimed for 9515. Just an opinion
Man who scratches ass should not bite fingernails
  • #5,000
  • Jan 4, 2007 12:23pm Jan 4, 2007 12:23pm
Quoting mtrmth
hey L,

looks like we are sitting between you and monarch and your predictions. now all it has to do is make a choice!! looks like it is setting up for roller coaster tonight. you agree??
The only thing I can predit and care to predict is that I will make money this month.
Man who scratches ass should not bite fingernails
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