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Daily Cable Analysis

  • #3,001
  • Jan 22, 2007 5:54am Jan 22, 2007 5:54am
Quoting marwan2010
GBP short @ 9738

http://www.fx-forum.net/forum/images/misc/progress.gif

reversed to long at 45
  • #3,002
  • Jan 22, 2007 5:58am Jan 22, 2007 5:58am
pulled the plug at 9753 for 15 pips... Awaiting closed candle above 9755, never looking back to jump in another long...

unsure about US open, too.
  • #3,003
  • Jan 22, 2007 6:06am Jan 22, 2007 6:06am
i'm waiting for cs closed above 9754 before dare to put another long...hope for another uptrend before start falling down but which level? 9770 perhaps?
Be a sniper not a jumper
  • #3,004
  • Jan 22, 2007 6:07am Jan 22, 2007 6:07am
Quoting cesarnc
pulled the plug at 9753 for 15 pips... Awaiting closed candle above 9755, never looking back to jump in another long...

unsure about US open, too.
justifying the above:

I was in the waiting for a closed candle (5M / 15M) above 9765, which didn't happen during Friday's session. From Frankfurt open up to now, 9755 was the key figure, although we've reached 9759, fast rejected. Now I'm for a closed at 9755 to jump a long. Watching out for possible whipsaw in the 9760-9770 area

On the down side, I'm in the waiting for a closed candle (5M / 15M) below 9716 to go for a short. It would be a short-term trade only, since the uptrend is still on.

I'm just scalping for a few pips between the 9730s and 9750s as to get paid for watching this boring movie.

No position as of now.
  • #3,005
  • Jan 22, 2007 6:37am Jan 22, 2007 6:37am
failing ups and downs.... geessss....zzzzzzz
  • #3,006
  • Jan 22, 2007 7:08am Jan 22, 2007 7:08am
The GBY/JPY is currently making new highs and the EUR/GBP is smashing through its low, but the GBP/USD is doing absolutely nothing. Interesting.
  • #3,007
  • Jan 22, 2007 7:13am Jan 22, 2007 7:13am
Quoting rdrainey
The GBY/JPY is currently making new highs and the EUR/GBP is smashing through its low, but the GBP/USD is doing absolutely nothing. Interesting.

Germany and Switzerland PPI numbers came in short this morning. Market is probably reacting to the numbers. Kind of interesting about Euro though. I find it hard to believe ECB won't hike in Q1
  • #3,008
  • Jan 22, 2007 7:20am Jan 22, 2007 7:20am
The problem with such a choppy market is that, as soon as you leave desk for a cigarette, the price moves 50 pips , straight shot
  • #3,009
  • Jan 22, 2007 7:26am Jan 22, 2007 7:26am
congrats to monarch for 200 replies tread....
its just money
  • #3,010
  • Jan 22, 2007 7:30am Jan 22, 2007 7:30am
Still trying to break the triangle.. should be upside if this triangle represents wave 4; hope the count is correct.
Tra-X
  • #3,011
  • Jan 22, 2007 7:44am Jan 22, 2007 7:44am
I am waiting for the current 15 min candle to close if anyone out there follows the Korzec Lines.

I am struggling to find a reason not to go Long and pick up a few pips along the way as I am sure there is a re-test of 9762 coming our way given whats happening elsewhere.

We still seem stuck at 9753 on the hourlies though as per Monarch earlier.
  • #3,012
  • Jan 22, 2007 8:05am Jan 22, 2007 8:05am
Failed in the 60s.. so frustrating.... Looks like Cable is the forgotten currency today....
  • #3,013
  • Jan 22, 2007 8:12am Jan 22, 2007 8:12am
I have just counted around 15 spikes through 60 on the 15 min chart over the last couple of days trading. Its becoming a very key resistance level.
  • #3,014
  • Jan 22, 2007 8:23am Jan 22, 2007 8:23am
Quoting musicman007
I have just counted around 15 spikes through 60 on the 15 min chart over the last couple of days trading. Its becoming a very key resistance level.
yeah... but it is odd the lack of punch to test 977X. In the other hand,9722 area's still holding tight as support.

So far today's range = lousy 47 pips...

Indicators are mixed, but if there's no success in finding another level above the 9770 in the next couple of days, we may see it colapsing downwards....

Thoughts?
  • #3,015
  • Jan 22, 2007 8:29am Jan 22, 2007 8:29am
This market has become really really confused. It's a matter is the glass half empty or half full when speculators or instutional $$$ analyze each currency. There's a case to buy and a case to sell EVERY currency except the YEN and swissy now. AND soon there will have a good reason to buy those. LOL

All I can see is continued two way action for the near term until a new sentiment is seen throughout the market.
  • #3,016
  • Jan 22, 2007 8:35am Jan 22, 2007 8:35am
Quoting cesarnc
yeah... but it is odd the lack of punch to test 977X. In the other hand,9722 area's still holding tight as support.

So far today's range = lousy 47 pips...

Indicators are mixed, but if there's no success in finding another level above the 9770 in the next couple of days, we may see it colapsing downwards....

Thoughts?
I agree with everything you say. I am at least making pips on the runs to earn some $$$$. I am dipping in and out of watching MurrayvNadal in Melbourne for some excitement.
  • #3,017
  • Edited 8:51am Jan 22, 2007 8:40am | Edited 8:51am
Quoting cesarnc
yeah... but it is odd the lack of punch to test 977X. In the other hand,9722 area's still holding tight as support.

So far today's range = lousy 47 pips...

Indicators are mixed, but if there's no success in finding another level above the 9770 in the next couple of days, we may see it colapsing downwards....

Thoughts?
Hi cesarnc

Looks an interesting speculative short opportunity.

It looks like it might be rolling over. Although I don't usually trade GBP, I can see potential for 1.9500. Worth a trade with a 50 pip stop. Currently 1.9750.

Suggest you ignore the indicators...they will just cloud your decision and make you less decisive.

What are you going to do? Take the trade or contemplate your indicators some more?
  • #3,018
  • Jan 22, 2007 8:42am Jan 22, 2007 8:42am
Quoting cesarnc
yeah... but it is odd the lack of punch to test 977X. In the other hand,9722 area's still holding tight as support.

So far today's range = lousy 47 pips...

Indicators are mixed, but if there's no success in finding another level above the 9770 in the next couple of days, we may see it colapsing downwards....

Thoughts?

The really bad news is that I cant see anything changing dramatically until at least Wednesday !
  • #3,019
  • Jan 22, 2007 8:44am Jan 22, 2007 8:44am
The market waiting any negative news to dollar , to rally up .....
  • #3,020
  • Jan 22, 2007 8:46am Jan 22, 2007 8:46am
Quoting monarch
This is my last day here also Ghitz, I have poured myself into this thread for several weeks now, but the time is here to say goodbye to all that have been supportive.

Have a wonderful time and best wishes to all.
Heee's Baaaack!
Welcome back Monarch.
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