Daily Cable Analysis

Missed all the fun yesterday on the short! just woken up and dont believe what's happened! - still trying to catch up on the news, anybody why GBP has been slaughtered?

Anyone remember this number, you should, we played around and bounced around it forever. We shall now see if it supports the downward move, or if it just moves over and let it slide.

It's not a good idea to try and catch this falling knife. The only question is how far down it will go. Confluence of 50 fib of the recent move up and previous support at 1.9590 looks a good target for the coming days and weeks.

Waiting for g/u to hit my target 1.9580

Maybe tommorrow

It would help out the long side technical picture if we could get a close @5AM above 9774 - would be a very strong sign - The pair has completely retraced yesterday and then some, possibly flushing out many weak longs. I believe the GBP news should come out strong, with unanimous vote on minutes. We are at a good fundamental value(although a better price is possible) for buying as we are at a very good technical level for buying right now. With All of this speculative buying and selling, woud be hard o imgine that large funds wouldn't consider this as a possible opener level to move to shift some of their shorts.

Just got closed out of my position @25 but am looking to reenter agressively. Retracements happen fast and they turn fast. I'll be posting whenever possible, but I want to stay more alert, this classic down move on 4 hrs just has the characteristic of an opening railroad track and I am expecting a strong reversal on a bigger timeframe. Good luck to all of you

I have dreamt of this number

This was the opening price for the market this week, it has went up and back down, right back where we started from.

That friends is what you call a scalpers dream.

Price is still closing at the 1.9735 with the body/wick touching, I will remain in a Long for yet another 5-10 minutes to see if it will go up, or just hit the carpet. LOL

240 min chart

Monarch, I wonder how many stops are behind that dreamy number - if price goes through, I will fade it.

1.9638 anyone?

This is getting funner every day!

Just this morning everyone was screaming 2's - 2's, and everyone is screaming 1's - 1's. The next thing I guess we will hear is Ouch-Ouch.

I guess this is what makes life so interesting on the Forums.

See you at the bottom, even though I am still trying to figure where my bottom is? LOL

The Japanese Yen is sharply up against everything which makes me think this could be a case of carry trade unwinding. This has happened a few times in the past couple of years and generally leads to massive 500 pip falls in a few days.

Now is definitely not the time to be buying cable. The 0930 releases will either be an excuse for a bigger sell off or will lead to a small spike followed by a sell off. There will be a lot of longs wanting to take profit with any rally.

[quote=monarch;196443]This is getting funner every day!

Just this morning everyone was screaming 2's - 2's, and everyone is screaming 1's - 1's. The next thing I guess we will hear is Ouch-Ouch.

I guess this is what makes life so interesting on the Forums.

See you at the bottom, funner is not in the dictionary

I'll take a boring week over a week like this any day, uh, err...any week

I was pressing the buttons here on my computer and "whamo" I closed out my Long on accident. I thought there was a clear 5 minute candle, and now I am upset, because that messes up my strategy record.

What shall I do, any suggestions for this 1 lot (only a mini lot at that)?

Re-enter Long Type *
Enter Short Type +

Thanks, kinda like a poll - the next 5 minutes - I will tabulate results and do as requested.

The Fun stuff we do with Money.......

*

with everything lined up now for news time, it would be hard not to imagine the railroad forming on the 4 hr chart, meaning that by 9AM we should be back up near 9850 level.

couple of minutes left here

going down again target 9717

*