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Daily Cable Analysis

  • #1,021
  • Jan 10, 2007 6:14am Jan 10, 2007 6:14am
I thought of going long on GBP/USD just seconds from the trade balance relese , would like to hear your take in this regard
Thankx all in advance
Happy pipping
Banda
BANDA333
  • #1,022
  • Jan 10, 2007 6:25am Jan 10, 2007 6:25am
I think the Trade Balance news will go against GBP. Im thinking basics here...the lower the currency the more goods US will be exported and less goods the country will import

But then I could be wrong....
  • #1,023
  • Jan 10, 2007 6:54am Jan 10, 2007 6:54am
I'm still fairly green, but I'm buying the GBP with a short-term bias.
David
  • #1,024
  • Jan 10, 2007 7:01am Jan 10, 2007 7:01am
<o> </o>

Maybe GBP/USD and EUR/USD will go north or to long side today if trade balance comes weak ………….So GBP & EUR to depreciate further tomorrow as there will be no rate hike on the cards from BOE and ECB…….

Would love to hear your thoughts in this regard

Thanking you all in advance .

<o> </o>
BANDA333
  • #1,025
  • Jan 10, 2007 7:12am Jan 10, 2007 7:12am
triangle formation 1 h chart
Attached Image
  • #1,026
  • Jan 10, 2007 7:39am Jan 10, 2007 7:39am
hold your shorts look for 320 - 310 maybe lower
  • #1,027
  • Jan 10, 2007 7:41am Jan 10, 2007 7:41am
Yea, I got burned, I totally didn't think it was gonna go this low....

you think it'll reacvh 320?
David
  • #1,028
  • Jan 10, 2007 7:41am Jan 10, 2007 7:41am
We dropped below the Low from Last nights Frankfurt, this would be something to watch here - 1.9360 point. Price has stayed above this point until now.

Indicators are showing Short, I am only scalping this time frame, but will re-analyze data again when dust settles.
  • #1,029
  • Jan 10, 2007 7:43am Jan 10, 2007 7:43am
yes I have been short since 412, called it earlier I closed one 1/2 lot after the GBP News. 2 More still open. Look back at my post
Quoting dberube
Yea, I got burned, I totally didn't think it was gonna go this low....

you think it'll reacvh 320?
  • #1,030
  • Jan 10, 2007 7:44am Jan 10, 2007 7:44am
hey Monarch were u been ?
Quoting monarch
We dropped below the Low from Last nights Frankfurt, this would be something to watch here - 1.9360 point. Price has stayed above this point until now.

Indicators are showing Short, I am only scalping this time frame, but will re-analyze data again when dust settles.
  • #1,031
  • Jan 10, 2007 7:47am Jan 10, 2007 7:47am
Quoting dberube
Yea, I got burned, I totally didn't think it was gonna go this low....

you think it'll reacvh 320?
when its unclear to me which way its going to go i place a pending buy and pending sell 15pips away from current price.. i do the pending orders just minutes before whatever news it is im anticipating ... workes out well

based on indicators i anticipated a short so i placed my short only 10 pips from price
  • #1,032
  • Jan 10, 2007 7:48am Jan 10, 2007 7:48am
350 has some support that needs to be broken. A low coming down and a high going up on the hourly chart.
Quoting dobbie11
yes I have been short since 412, called it earlier I closed one 1/2 lot after the GBP News. 2 More still open. Look back at my post
  • #1,033
  • Jan 10, 2007 7:49am Jan 10, 2007 7:49am
Hi mosheber,

Nice chart. Thank you.

By the way, what is your settings for Fxsnipers CCI Trigger?

thanks and regards,

Vasu
  • #1,034
  • Jan 10, 2007 7:57am Jan 10, 2007 7:57am
Quoting dobbie11
hey Monarch were u been ?
This is a very busy week with meetings, so I have been going to sleep earlier. I didn't think too much would happen until the News this morning, so I slept 5 hours instead.

I have just caught up reading every post from last night.

I am impressed with most of the analysis, I would say 75% of the information has come to pass as spoken.

Nice Job Everyone!
  • #1,035
  • Jan 10, 2007 7:59am Jan 10, 2007 7:59am
i use 2,10,1,2 settings
  • #1,036
  • Jan 10, 2007 8:03am Jan 10, 2007 8:03am
Well hope u feel better. I am still holding short......We have a flat forming on the hourly chart. Wave A 1/9 High ( 3 waves up ). Looking for 3waves down to the low 3's. Then a 5 wave up. At least thats what I am seeing.
Quoting monarch
This is a very busy week with meetings, so I have been going to sleep earlier. I didn't think too much would happen until the News this morning, so I slept 5 hours instead.

I have just caught up reading every post from last night.

I am impressed with most of the analysis, I would say 75% of the information has come to pass as spoken.

Nice Job Everyone!
  • #1,037
  • Jan 10, 2007 8:03am Jan 10, 2007 8:03am
Hi Monarch, hope all is well with you, +8 today. Looking forward to your analysis, will view it tomor morning. Night.
Right teaching produces right believing leads to right living. - J.P
  • #1,038
  • Jan 10, 2007 8:07am Jan 10, 2007 8:07am
1 Min Chart
When wee started the news I snapped a line at open price at 1.9380, then it had a drop of 17 pips in first 1 minute, I snapped a Line on the retracement candle that broke the close of the first candle at 1.9368.

From there the price in several candles later broke below 1.9368.

Dropped down to a low of 1.9345 (still above 1.933-36 Fibo)

Then came up and found support on the S1 Daily Pivot.

We just now came above the 1.9368 line and opened price above this mark.

I will now watch for a break above the Open at news time 1.9380, or if we will stay under the lower line at 1.9368.

This is a 1 Min News Time Analysis.
  • #1,039
  • Jan 10, 2007 8:12am Jan 10, 2007 8:12am
Quoting dobbie11
Well hope u feel better. I am still holding short......We have a flat forming on the hourly chart. Wave A 1/9 High ( 3 waves up ). Looking for 3waves down to the low 3's. Then a 5 wave up. At least thats what I am seeing.
By the way, I shorted on scalp strategy, but I am not posting my positions for the sake of keeping my input to Analysis only.

I am still unclear the direction for the rest of the week.

We need to meet several key points this week still, one of them is still at 1.9206-12 area below, most of the upper Fibo's are cleared for this downward move.

We have already made a distance of 200 pips in the upward direction, so we now watch to see if this news here has the power to push the price down. Key point to break for today would be 1.9330 and stay below for a downward indication.
  • #1,040
  • Jan 10, 2007 8:14am Jan 10, 2007 8:14am
Quoting barakah
Hi Monarch, hope all is well with you, +8 today. Looking forward to your analysis, will view it tomor morning. Night.
The main objective is to be consistent in our wins over losses.

Once we have determined our strategy works continually we can know there is no holding us back.

Rest well.
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