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Daily Cable Analysis

  • #2,481
  • Jan 18, 2007 4:08am Jan 18, 2007 4:08am
Quoting wryan
I'm already short but waiting for 9715 is less risky.
At that point its a confirmed trend break and a strong sign of weekness
78 fib on today's at 9712 (missed by 1 pip)... Now I don't know who's calling the shots - the 9722 or this 78 last fib....

I'd like to see a 5min candle opening below 9712...

But indeed, US may play the selloff soon... I'm looking for direction yet...
  • #2,482
  • Jan 18, 2007 4:11am Jan 18, 2007 4:11am
Quoting jest1081
Us Open get ready to sell the pound

I agree. I'm suspicious if the spike up to new highs today was for stop hunting reasons
  • #2,483
  • Jan 18, 2007 4:11am Jan 18, 2007 4:11am
close below 9720 just negated possibility for current positive reversal on 150 tick chart. We have others forming however on 400 tick, will wait for a confirming signal
Man who scratches ass should not bite fingernails
  • #2,484
  • Jan 18, 2007 4:15am Jan 18, 2007 4:15am
Quoting Leugimp
close below 9720 just negated possibility for current positive reversal on 150 tick chart. We have others forming however on 400 tick, will wait for a confirming signal
You mean, reversing back up? or confirming the reversal downwards...

- Brain still warming up - sorry 'bout that
  • #2,485
  • Jan 18, 2007 4:15am Jan 18, 2007 4:15am
Quoting wryan
A short trade is very risky because we are in an uptrend. Trend is up and only long trades should be taken at this point or until a down trend is in place. :-
there is a reason they call it the pound!
  • #2,486
  • Jan 18, 2007 4:17am Jan 18, 2007 4:17am
Quoting 59fender
there is a reason they call it the pound!
The terminator
  • #2,487
  • Jan 18, 2007 4:18am Jan 18, 2007 4:18am
It's broken some key support levels
  • #2,488
  • Jan 18, 2007 4:18am Jan 18, 2007 4:18am
See chart for support levels
Attached Image
  • #2,489
  • Jan 18, 2007 4:19am Jan 18, 2007 4:19am
i closed my long @1.9729 and reversed
  • #2,490
  • Jan 18, 2007 4:20am Jan 18, 2007 4:20am
Quoting cesarnc
You mean, reversing back up? or confirming the reversal downwards...

- Brain still warming up - sorry 'bout that
I meant back up , but signal was negated
Man who scratches ass should not bite fingernails
  • #2,491
  • Jan 18, 2007 4:22am Jan 18, 2007 4:22am
Quoting Leugimp
I meant back up , but signal was negated
Thanks...
  • #2,492
  • Jan 18, 2007 4:23am Jan 18, 2007 4:23am
The way i see it , there was a false breakout above 9750, either lots of stops got triggered or limit orders, perhaps both , but now that it took stops and more ppl loaded wit gbp it will slump. My target area remains double bottom at 1.93 area
  • #2,493
  • Jan 18, 2007 4:23am Jan 18, 2007 4:23am
Quoting goodthings
See chart for support levels
And some other things to note


USD/CHF above PP
USD/JPY above PP
Eur/USD below PP
  • #2,494
  • Jan 18, 2007 4:25am Jan 18, 2007 4:25am
divergence still in play on 1hr chart for target of 9670.... still have my short but has taken a beating... just keeping my cool
  • #2,495
  • Jan 18, 2007 4:26am Jan 18, 2007 4:26am
For now will set a buy order @9657 and another @9633 - will be great levels for price to turn back up and form positive reversals on many timeframes. If bubble indicator coincides will be a very high prob trade, however we are far away. Looking for some more quick plays but everything just seems to suspect right now. Alot of "almost" setups getting negated.
Man who scratches ass should not bite fingernails
  • #2,496
  • Jan 18, 2007 4:27am Jan 18, 2007 4:27am
whats pp pivot point daily ?
  • #2,497
  • Jan 18, 2007 4:29am Jan 18, 2007 4:29am
Quoting lexazver
The way i see it , there was a false breakout above 9750, either lots of stops got triggered or limit orders, perhaps both , but now that it took stops and more ppl loaded wit gbp it will slump. My target area remains double bottom at 1.93 area
Maybee took out stops and initiated some longs which will ride down to news only to get stopped out on spike to $+ side, then comes back up through rest of day and rides higher tomorrow with fewer weak longs going for the ride. Not my top personal opinion, but anything is possible.
Man who scratches ass should not bite fingernails
  • #2,498
  • Jan 18, 2007 4:31am Jan 18, 2007 4:31am
Quoting goodthings
whats pp pivot point daily ?
Yes. Theoratically. Above PP is bullish and below is bearish
  • #2,499
  • Jan 18, 2007 4:32am Jan 18, 2007 4:32am
Also on a much longer timeframe, unless something insanely drastic happens to push price below 9500 by weeks end, we will have a very strong positive reversal confirmed on the weeklys which has a minimum pt of 2.0142. Just something to keep in mind.
Man who scratches ass should not bite fingernails
  • #2,500
  • Jan 18, 2007 4:32am Jan 18, 2007 4:32am
4hr upside divergence brewing on macd. this is interesting
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