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Cable Update (GBPUSD)

  • #52,301
  • Feb 6, 2008 6:18am Feb 6, 2008 6:18am
LONG 9580 tgt 9700

been building up a long position from yesterday. if cable falls to around 9500, i'll buy more. i see this eventually reaching 2k+.

if it reaches 9450 after the boe tomorrow and stays there, i might think about taking a big loss

gl all
  • #52,302
  • Feb 6, 2008 6:20am Feb 6, 2008 6:20am
There is Rh on weekly time frame it is very possible GBP/USD to continue falling down
Attached Image
  • #52,303
  • Feb 6, 2008 6:22am Feb 6, 2008 6:22am
Quoting Mr_Black
There is Rh on weekly time frame it is very possible GBP/USD to continue falling down
Sorry i am not clear what you mean by RH. do you mind explaining thanks.
  • #52,304
  • Feb 6, 2008 6:23am Feb 6, 2008 6:23am
Quoting tomaz55
LONG 9580 tgt 9700

been building up a long position from yesterday. if cable falls to around 9500, i'll buy more. i see this eventually reaching 2k+.

if it reaches 9450 after the boe tomorrow and stays there, i might think about taking a big loss

gl all
Dont go against the trend..
  • #52,305
  • Feb 6, 2008 6:24am Feb 6, 2008 6:24am
Quoting jacobtrader
Sorry i am not clear what you mean by RH. do you mind explaining thanks.
Ross Hook
  • #52,306
  • Feb 6, 2008 6:30am Feb 6, 2008 6:30am
i have a feeling that if GU reached 9300 to 9400 before the news tomorrow they will not cut the rate. if it didn't reach that level before tomorrow then they will cut it. just a feeling ...
  • #52,307
  • Feb 6, 2008 6:31am Feb 6, 2008 6:31am
Quoting jacobtrader
Dont go against the trend..
if this does decide to turn, you'll be surprised how far north this can go..

i see this fall as the market pricing in a 25bp cut tomorrow. actually i would be surprised if cable wasnt falling. lets see what happens
  • #52,308
  • Feb 6, 2008 6:42am Feb 6, 2008 6:42am
Quoting tomaz55
if this does decide to turn, you'll be surprised how far north this can go..

i see this fall as the market pricing in a 25bp cut tomorrow. actually i would be surprised if cable wasnt falling. lets see what happens
It wont turn.. And as you are saying 2.000 at the current moment forget 2.000
I agree with msniper.. that this will be falling hard..
I will go Long if i see change in trend.

But i see today another 100 Pips fall from current level...
  • #52,309
  • Feb 6, 2008 6:46am Feb 6, 2008 6:46am
Cable has 38 fibo level @ 1.9560, till news we can wait still, nothing will happen. After news two possible directions: north or south
  • #52,310
  • Feb 6, 2008 6:51am Feb 6, 2008 6:51am
based on Fibo Extension , if cable breaks 19553 .. we'll see 1.9515
  • #52,311
  • Feb 6, 2008 6:51am Feb 6, 2008 6:51am
Quoting sDRs
After news two possible directions: north or south
i'll be surprised if there's any direction beside up & down... :surprised
Never Give Up.....
  • #52,312
  • Feb 6, 2008 6:51am Feb 6, 2008 6:51am
Quoting sDRs
Cable has 38 fibo level @ 1.9560, till news we can wait still, nothing will happen. After news two possible directions: north or south
It will cross that also.. dont worry
i think i am here typing since 3 hours.. and every hour i am seeing 10-15 pips down push hehe..
So give it 1-2 hours more.. my magic is telling me 1.9500 soon..
  • #52,313
  • Feb 6, 2008 6:54am Feb 6, 2008 6:54am
Market seems Pricing In for the Rate Cut tomorrow. To head SOUTH... Cable has to go through tremendous STRONG SUPPORT. Just have a look inside the Blue Square. However, CS H4 formed below last Friday & Monday Low. For me Bias to the BEAR. I go SHORT on this one. A.M.O.R >>> At My Own Risk!!!
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  • #52,314
  • Feb 6, 2008 6:56am Feb 6, 2008 6:56am
just to remain you...
1.9550 area is the highest level in december 2004...
Never Give Up.....
  • #52,315
  • Feb 6, 2008 6:57am Feb 6, 2008 6:57am
Quoting jacobtrader
It will cross that also.. dont worry
i think i am here typing since 3 hours.. and every hour i am seeing 10-15 pips down push hehe..
So give it 1-2 hours more.. my magic is telling me 1.9500 soon..
Watch out,DOW will Rebound next....
"IT'S GOING TO BE LIKE COMING INTO THE JUNGLE" - K G
  • #52,316
  • Feb 6, 2008 6:59am Feb 6, 2008 6:59am
Quoting YudhaGBP7
Watch out,DOW will Rebound next....
Yeh i am seeing that.. but its not that much.. so wont effect.. as well data will come before the openining of equity market.. so we will come to knw.. whats next..
  • #52,317
  • Feb 6, 2008 7:11am Feb 6, 2008 7:11am
A fifth wave down from 1.9787 should be nearing its completion and a consequent upside reaction should start soon back toward 1.9664 and 1.9724
  • #52,318
  • Feb 6, 2008 7:16am Feb 6, 2008 7:16am
Quoting soros_junior
A fifth wave down from 1.9787 should be nearing its completion and a consequent upside reaction should start soon back toward 1.9664 and 1.9724
u use elliot wave analysis, and what time frame?
  • #52,319
  • Feb 6, 2008 7:21am Feb 6, 2008 7:21am
Quoting forexguru
u use elliot wave analysis, and what time frame?
1 hour
  • #52,320
  • Feb 6, 2008 7:25am Feb 6, 2008 7:25am
Quoting soros_junior
1 hour
usually the hourly do not make sense, can you post your screenshot ?
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