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Cable Update (GBPUSD)

  • #56,261
  • Feb 27, 2008 8:15am Feb 27, 2008 8:15am
Quoting lessy
you right 'bout engulfing...
but not 'bout inverted in daily...
the daily candle hasn't closed yet... so i can't say it inverted..buddy...
let's see.... after all i don't do anything today... just watching...
yeah the daily is difficult but the inverted hammer formation helps..this is forex we never know ..it could just go up like yesterday for no reason ..
  • #56,262
  • Feb 27, 2008 8:16am Feb 27, 2008 8:16am
Guys,

do you see H&S is forming on H1?
  • #56,263
  • Feb 27, 2008 8:19am Feb 27, 2008 8:19am
Quoting sDRs
Guys,

do you see H&S is forming on H1?
yeah kinda ....i hope it is especially if it leads to a drop
  • #56,264
  • Feb 27, 2008 8:26am Feb 27, 2008 8:26am
Quote
I believe it is more likely the pound will continue down. Even if Bernanke's speech and housing data are negative towards the dollar

Well, how real can this be?
The market smells bullish like never before, i see 2.0025 at least hitting today and probably a little while after the speech. Even though i agree with the H&S formation on the H1 chart, i still see it going up.. any comments, suggestions?
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  • #56,265
  • Feb 27, 2008 8:31am Feb 27, 2008 8:31am
Quoting abuzant
Well, how real can this be?
The market smells bullish like never before, i see 2.0025 at least hitting today and probably a little while after the speech. Even though i agree with the H&S formation on the H1 chart, i still see it going up.. any comments, suggestions?
but why up! ...based on what did u derive this conclusion?
  • #56,266
  • Feb 27, 2008 8:31am Feb 27, 2008 8:31am
Quoting tetis
i am thinking to open a DEMO account and come to forums and scream 10 lot + 10 lot up or down last calllllll come on come on 10 lot no 100 lot its better!
its very easy belive me you can test it !
  • #56,267
  • Feb 27, 2008 8:31am Feb 27, 2008 8:31am
Quoting annieb
Hi,

My tuppence worth on cable - the major banks have come out with better than expected results, and yesterday the stock market pundits said the market had over-reacted to the credit crunch and speculated that northern rock was the only bank to be caught up on the sub-prime fiasco. Today there is a rumour that another bank has approached the bank of england, which negates yesterday's confidence in the £. Whether the rumour is true or not who knows.
The pound also took the advantage of a battered dollar to attempt rising up once more to the $2.0 levels; while in the European session the pound was hammered against the yen especially as rumors were roaming of huge Russian selling on the pair around talk of a troubled UK clearer while the BoE dismissed rising talk of an emergency liquid fund and as well an emergency MPC meeting; while the GDP being unrevised as expected gave back a slight boost as market expected growth to be despite that revised lower. The pound is now heading lower to gather suitable momentum after it failed to break through the 1.9970s where it set its intraday high which if breach will open the way ahead to the $2 area, the pound is back to its early opening lows trading near 1.9850s.

source
  • #56,268
  • Feb 27, 2008 8:32am Feb 27, 2008 8:32am
Quoting abuzant
Well, how real can this be?
The market smells bullish like never before, i see 2.0025 at least hitting today and probably a little while after the speech. Even though i agree with the H&S formation on the H1 chart, i still see it going up.. any comments, suggestions?
About an hour ago very poor data came out against the dollar and within 10 minutes the dollar had actually gained compared to its price before the announcement. If news doesn't move the market much, that usually indicates the market is going the other way.
  • #56,269
  • Feb 27, 2008 8:33am Feb 27, 2008 8:33am
You fellas in here are awesome. What... with all these complex analysis and indicators. For me, I just simply straddle each report after the report. Worked beautifully this morning, worked again, core durable goods. I am waiting for next 30 mins, will straddle again (might be whippy this time, two speeches and a report).

Oh it's a good day today.

Keep it SImple Somebody (KISS)
  • #56,270
  • Feb 27, 2008 8:34am Feb 27, 2008 8:34am
H&S is good formation...........only if performed.....
becarefull..... if not, it will continuing to go up...
Never Give Up.....
  • #56,271
  • Feb 27, 2008 8:38am Feb 27, 2008 8:38am
Quoting nAVIN2007
but why up! ...based on what did u derive this conclusion?
i think he based his conclusion on the fact that bernanke will kick dollars ass.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #56,272
  • Feb 27, 2008 8:40am Feb 27, 2008 8:40am
Quoting lessy
H&S is good formation...........only if performed.....
becarefull..... if not, it will continuing to go up...
lessy i think u could be right ....
  • #56,273
  • Feb 27, 2008 8:42am Feb 27, 2008 8:42am
Quoting salah k.
i think he based his conclusion on the fact that bernanke will kick dollars ass.
hopefully it going up now like yesterday..and this time im on the train ...
  • #56,274
  • Feb 27, 2008 8:47am Feb 27, 2008 8:47am
Quoting nAVIN2007
hopefully it going up now like yesterday..and this time im on the train ...
im just gonna wait till new home sales and bernanke

i stopped my short
tempted to long but resisted.
lets c wat happens
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #56,275
  • Feb 27, 2008 8:50am Feb 27, 2008 8:50am
Quoting nAVIN2007
lessy i think u could be right ....
just wait the news & couple minutes to see where the H4 candle close...
Never Give Up.....
  • #56,276
  • Feb 27, 2008 8:57am Feb 27, 2008 8:57am
Quoting lessy
H&S is good formation...........only if performed.....
becarefull..... if not, it will continuing to go up...
What is "H&S" formation?
  • #56,277
  • Feb 27, 2008 8:58am Feb 27, 2008 8:58am
Quoting Runway Trade
What is "H&S" formation?

Head and Schoulders
  • #56,278
  • Feb 27, 2008 8:58am Feb 27, 2008 8:58am
Quoting Runway Trade
What is "H&S" formation?
head & shoulders
  • #56,279
  • Feb 27, 2008 9:00am Feb 27, 2008 9:00am
so for the US the new homes sales were less than forecast.means lower ecomony generated hence gpd increase in strength? ...this right?
  • #56,280
  • Feb 27, 2008 9:01am Feb 27, 2008 9:01am
testing 1.9950..... again
Never Give Up.....
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