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Cable Update (GBPUSD)

  • #62,461
  • Apr 23, 2008 6:43am Apr 23, 2008 6:43am
One thing to remember, it will not be out of the ordinary to go back and test the Dpp here, also, the CAD news is forcasted bad for the CAD so this could help the move down, any comments appreciated.
  • #62,462
  • Apr 23, 2008 6:45am Apr 23, 2008 6:45am
38.2% fib (1.9600-2.0029) at 1.9867 is holding firmly, rebounded cleanly, doesn't seem like its gonna pierce through... G/Y also holding above weekly. Price hanging in middle of BBands... i would hate to trade this, staying out. Based on fxbootcamp's analysis on past MPC announcements, this should be whipsawing wildly above average range, but it's just standing there like an idiot.
Trade the reaction, not the news!
  • #62,463
  • Apr 23, 2008 6:47am Apr 23, 2008 6:47am
This looks like a stall to me, I believe there is to much momentun to stop here, but what do I know.

Quoting twofeet
38.2% fib (1.9600-2.0029) at 1.9867 is holding firmly, rebounded cleanly, doesn't seem like its gonna pierce through... G/Y also holding above weekly. Price hanging in middle of BBands... i would hate to trade this, staying out.
  • #62,464
  • Apr 23, 2008 6:50am Apr 23, 2008 6:50am
It could be argued that 4hr is in a range...seescreenshot....9863 fib mentiioned above has caused a reaction at todays current lows but was breeched with no effect before that.

9842 is the 61.8 of 9747-9997
9806-13 hold 2 fibs, 50% already breeched of 9599-0027, and 76.4% of 9747-9997.
9700 is 76.4% of that longer 9599-0024 move
Attached Image
ex member
  • #62,465
  • Apr 23, 2008 6:55am Apr 23, 2008 6:55am
Exactly what I am seeing,........ WOW, I could be making a fortune on that 25 pip channel the EURO is in


Quoting bbmac
It could be argued that 4hr is in a range...seescreenshot....9863 fib mentiioned above has caused a reaction at todays current lows but was breeched with no effect before that.

9842 is the 61.8 of 9747-9997
9806-13 hold 2 fibs, 50% already breeched of 9599-0027, and 61.8 of 9747-9997.
9700 is 76.4% of that longer 9599-0024 move
  • #62,466
  • Apr 23, 2008 6:55am Apr 23, 2008 6:55am
Looks stalled to me to, but my system dictates I'm simply not allowed to go long as downchannel is in effect and odds are over all, well thats a losing game.



Ahhhh for alittle bit more faith in my channel method today hey and yesterday


But atleast I'm stopping my self trading against it 1/2 way there.

Chart explaining my channel and entrys, green and red are added to make it easier to see the exits, which there isn't one yet doh!!
Attached Image
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,467
  • Apr 23, 2008 6:57am Apr 23, 2008 6:57am
There she goes,,, and hey BBmac, you know what they say, 76% fib is a good place to buy....
  • #62,468
  • Apr 23, 2008 6:58am Apr 23, 2008 6:58am
Quoting hard1head1
There she goes,,, and hey BBmac, you know what they say, 76% fib is a good place to buy....
buy? why would you do that?
  • #62,469
  • Apr 23, 2008 6:59am Apr 23, 2008 6:59am
and the movement on the 1 hr candle is huge by the time u get the signal the move is over .....lol hectic
  • #62,470
  • Apr 23, 2008 7:01am Apr 23, 2008 7:01am
Lots and Lots of momentum, 9840 is a concern...62 EMA 4 hr
  • #62,471
  • Apr 23, 2008 7:03am Apr 23, 2008 7:03am
If its gonna turn, it will be right here 89 smooth MA
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 48 KB
  • #62,472
  • Apr 23, 2008 7:06am Apr 23, 2008 7:06am
Quoting hard1head1
If its gonna turn, it will be right here 89 smooth MA
look at your chart real carefully..............
  • #62,473
  • Apr 23, 2008 7:06am Apr 23, 2008 7:06am
I got in on those Exact Tweezer tops. 15 mIN.. tAKEN OUT BY THE NEWS AND GOT BACK IN
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 44 KB
  • #62,474
  • Apr 23, 2008 7:07am Apr 23, 2008 7:07am
Quoting nAVIN2007
and the movement on the 1 hr candle is huge by the time u get the signal the move is over .....lol hectic

hence, 1 min charts and some SMA's to give you a good over view and filter out the noise

If you wait, 1hour ( let alone 4hours ) for a candle to fill before making a decisions, the markets stopped doing what it's doing and is likely doing the opposite, so your screwed.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,475
  • Apr 23, 2008 7:09am Apr 23, 2008 7:09am
Quoting hard1head1
Lots and Lots of momentum, 9840 is a concern...62 EMA 4 hr
bro are u using te 10 day moving average cause if u are then on a 4hr chart it should be 60...62ema is used on the 1hr chart..

10 day moving average on daily = 60 ema on 4 hr = 240 ema on 1 hr

might help ..
  • #62,476
  • Apr 23, 2008 7:10am Apr 23, 2008 7:10am
Quoting Turveyd
hence, 1 min charts and some SMA's to give you a good over view and filter out the noise

If you wait, 1hour ( let alone 4hours ) for a candle to fill before making a decisions, the markets stopped doing what it's doing and is likely doing the opposite, so your screwed.
trust me bro right now im out of the market ..these condition dont suit me ....and i dont want to lose any1 money...unless im sure
  • #62,477
  • Apr 23, 2008 7:11am Apr 23, 2008 7:11am
Sweaty palms at strong support?

Relax ...
... bank your money and set a sell-stop on the other side.
  • #62,478
  • Apr 23, 2008 7:14am Apr 23, 2008 7:14am
No, its 89 smoothed on the 4... you see the chart

Quoting nAVIN2007
bro are u using te 10 day moving average cause if u are then on a 4hr chart it should be 60...62ema is used on the 1hr chart..

10 day moving average on daily = 60 ema on 4 hr = 240 ema on 1 hr

might help ..
  • #62,479
  • Apr 23, 2008 7:14am Apr 23, 2008 7:14am
any further selling down.....possible support area?

9806-13 hold 2 fibs, 50% already breeched of 9599-0027, and 76.4% of 9747-9997...add to this Daily S1 9797-9804 region, and bids touted by Mni 9800-10 there
ex member
  • #62,480
  • Apr 23, 2008 7:14am Apr 23, 2008 7:14am
GBP/USD: Full Retracement Of MPC Rally, Stops Touted London, April 23. We had expected the MPC effect to last a little longer but the rally to 1.9975 found good sized profit taking and with intraday traders bailing out following the 1.9900 break we have now witnessed a full retracement back to 1.9865. Further stop action seen to 1.9840 and there is a collapse feel about the Pound again.
At the time of the MPC minutes the Sterling market appeared to ignore the poor mortgage data and we are now hearing that U.S accounts are factoring in the fall in lending. Heavy sales out of Eastern Europe and also rumours that a U.S hedge fund sold out of a position at 1.9960-70. Talk of good bids at 1.9830 and stops under 1.9820. ifr
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