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Cable Update (GBPUSD)

  • #62,701
  • Apr 24, 2008 6:31am Apr 24, 2008 6:31am
There we go, Up trend line broken and tested, Thanks for the advice guys.

Quoting nAVIN2007
its a 50% chance....my outlook is bearish now i dont think 2.00 will be seen to now not comfortable buying on a bottom, cause i aint sure it is the bottom any more....lol
  • #62,702
  • Apr 24, 2008 6:33am Apr 24, 2008 6:33am
Quoting hard1head1
Yea JR, but there is a lot more res. to get thru today, than yesterday
Perhaps but there just doesn't seem to be anything driving price ATM - just drifting as it usually does during the Asian session..
Darkness lies one inch ahead..
  • #62,703
  • Apr 24, 2008 6:33am Apr 24, 2008 6:33am
There is nothing that replaces group trading.
  • #62,704
  • Apr 24, 2008 6:38am Apr 24, 2008 6:38am
You mean like a free floating vapor or a roaming Phantasm.

Quoting TraderJR
Perhaps but there just doesn't seem to be anything driving price ATM - just drifting as it usually does during the Asian session..
  • #62,705
  • Apr 24, 2008 6:42am Apr 24, 2008 6:42am
I believe we are poised to make a move short, but just waiting for USA to confirm at 8:30, Comments?
  • #62,706
  • Apr 24, 2008 6:48am Apr 24, 2008 6:48am
My buy order was hit at 1.9716. Then closed at +41

I am back after 2 weeks of infraction hehehehe

Nice to see you again guys.
When life gives you lemons, make lemonade
  • #62,707
  • Apr 24, 2008 6:53am Apr 24, 2008 6:53am
Quoting hard1head1
I believe we are poised to make a move short, but just waiting for USA to confirm at 8:30, Comments?
I think the big dogs send this thing lower at 8:30- I think the question is not if they are going to send it lower, but how low do they want to send it. With those horrible numbers for the GBP and it not move too much- I think it's the calm before the storm.

Unless the numbers come out horrible for the US- I wouldn't want to be long.
  • #62,708
  • Apr 24, 2008 6:53am Apr 24, 2008 6:53am
Quoting hard1head1
I believe we are poised to make a move short, but just waiting for USA to confirm at 8:30, Comments?
US news could go either way bro
i think they have a nag for surprising us.
but my bias is the same as yours
lets see how it plays out.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #62,709
  • Apr 24, 2008 6:55am Apr 24, 2008 6:55am
Someone on this forum was saying that it is easy to make +30 pips per day... Actually I find making a steady +30 per day to be a hard task. I think we should be reasonable with our posts unless you are superman (aka Bernanke)
When life gives you lemons, make lemonade
  • #62,710
  • Apr 24, 2008 6:58am Apr 24, 2008 6:58am
Quoting bbmac
current intraday lows 9709 in region of that breeched decsending resistance trend line, now twice acting as support 4hr
Ditto BBMAC

Let's also not forget that the last weekly candle was bullish-engulfing and that Friday is just around the corner.
This indicates to me that before the week is out, price is more likely to meet or beat the upper trend line, than the lower trend line.

As well as the 1hr swing low, things are also pretty oversold on 4hr stochs now.

The Euro has also begun to climb off its lows (and the bottom of it's recent channel) since news smacked it round the head - also very oversold on 4hr stochs. There's already a 1hr swing low confirmed.

I'd like to say "as the song goes... The Only Way is Up"
but as we all know ...anything can, does and will happen - particularly with a full day of news.

Rob
  • #62,711
  • Apr 24, 2008 7:06am Apr 24, 2008 7:06am
Keep looking at my Larger TF charts and cant see anything but long, but everyone says its going short. Then I look at all those daily hits around the 9730 area.

Quoting priceaction
Ditto BBMAC

Let's also not forget that the last weekly candle was bullish-engulfing and that Friday is just around the corner.
This indicates to me that before the week is out, price is more likely to meet or beat the upper trend line, than the lower trend line.

As well as the 1hr swing low, things are also pretty oversold on 4hr stochs now.

The Euro has also begun to climb off its lows (and the bottom of it's recent channel) since news smacked it round the head - also very oversold on 4hr stochs. There's already a 1hr swing low confirmed.

I'd like to say "as the song goes... The Only Way is Up"
but as we all know ...anything can, does and will happen - particularly with a full day of news.

Rob
  • #62,712
  • Apr 24, 2008 7:27am Apr 24, 2008 7:27am
Just for the record. My opinion is that the figures are going to be bad for US sending GBP north.

Durable goods cant be growing - no one has money to buy them same for new home sales.

Just my opinion........
  • #62,713
  • Apr 24, 2008 7:35am Apr 24, 2008 7:35am
Is a tough nut to crack
  • #62,714
  • Apr 24, 2008 7:35am Apr 24, 2008 7:35am
Quoting Runway Trade
Just for the record. My opinion is that the figures are going to be bad for US sending GBP north.

Durable goods cant be growing - no one has money to buy them same for new home sales.

Just my opinion........
Which is apparently totally wrong!!!
LOL
  • #62,715
  • Apr 24, 2008 7:35am Apr 24, 2008 7:35am
Quoting micho
Someone on this forum was saying that it is easy to make +30 pips per day... Actually I find making a steady +30 per day to be a hard task. I think we should be reasonable with our posts unless you are superman (aka Bernanke)
I've just read a book that Jacko recommended; "Lessons from the greatest stocktraders of all time" by Boik.

Loeb, Baruch, Darvas, Livermore, O'Neil were all included and the book goes;

"They all made mistakes early in their experiences, and lost money, proving that they were all human as well".
  • #62,716
  • Apr 24, 2008 7:44am Apr 24, 2008 7:44am
So, is it a clear road all the way to 1.9690 ?
The quality of your life is brought about by the quality of your thinking.
  • #62,717
  • Apr 24, 2008 7:51am Apr 24, 2008 7:51am
Quoting hornet
So, is it a clear road all the way to 1.9690 ?
Doesn't look like it. I guess I didn't know what I was talking about :
  • #62,718
  • Apr 24, 2008 7:54am Apr 24, 2008 7:54am
Quoting DeePipster
Doesn't look like it. I guess I didn't know what I was talking about :
Well, I am still holding short from 1.9815. Limit at 1.9700 since I see 1.9690 as an interesting support area.

Just need to get filled and I'll be gone for the week. To the beach for 3 days, nice !!!
The quality of your life is brought about by the quality of your thinking.
  • #62,719
  • Apr 24, 2008 8:01am Apr 24, 2008 8:01am
Quoting hornet
Well, I am still holding short from 1.9815. Limit at 1.9700 since I see 1.9690 as an interesting support area.

Just need to get filled and I'll be gone for the week. To the beach for 3 days, nice !!!
Good idea; two sides of the same coin, I've just enter buy from here target 9919, I maybe too early though...... but i only see up daily chart is saying something different.
  • #62,720
  • Apr 24, 2008 8:02am Apr 24, 2008 8:02am
Quoting hard1head1
I believe we are poised to make a move short, but just waiting for USA to confirm at 8:30, Comments?
I think you were right. Positive US news made GU do a short move short (ha!ha!) but it now seems directionless again. Can change in an instant but this sort of indecision wears one out - f#ck, I'm going to watch TV...
Darkness lies one inch ahead..
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