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Cable Update (GBPUSD)

  • #63,901
  • May 2, 2008 6:03am May 2, 2008 6:03am
Quoting hard1head1
We got a Shooting Star on the 1 Hr guys and 30 minute
Sorry, what does that mean?
  • #63,902
  • May 2, 2008 6:04am May 2, 2008 6:04am
Possible end to an uptrend, but its only a 1 hr T/F keep in mind

Quoting Clouds
Sorry, what does that mean?
  • #63,903
  • May 2, 2008 6:06am May 2, 2008 6:06am
Could mean simple retracement
  • #63,904
  • May 2, 2008 6:09am May 2, 2008 6:09am
My Cable TPL

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  • #63,905
  • May 2, 2008 6:13am May 2, 2008 6:13am
Quoting hard1head1
We got a Shooting Star on the 1 Hr guys and 30 minute
I am very new to charts. It doesn't look like the classic shooting star as they explain it in the books. Does it have to be exact for the shooting star to indicate a clear bearish reversal?
Expected the unexpected
  • #63,906
  • May 2, 2008 6:19am May 2, 2008 6:19am
Quoting hard1head1
We got a Shooting Star on the 1 Hr guys and 30 minute
It is looking rather bearish on the lower TFs Jim. Especially as it flirts with the 61.8 fib from last week's high. I would like more confirmation on a 3 or 4 hr chart to trade it.

But I won't be entering, especially because of news.

"Forbidden Fruit"

Rob
  • #63,907
  • May 2, 2008 6:21am May 2, 2008 6:21am
Quoting priceaction
It is looking rather bearish on the lower TFs Jim. Especially as it flirts with the 61.8 fib from last week's high. I would like more confirmation on a 3 or 4 hr chart to trade it.

But I won't be entering, especially because of news.

"Forbidden Fruit"

Rob
I think the news will play into technical analysis..........
  • #63,908
  • May 2, 2008 6:26am May 2, 2008 6:26am
Quoting AmeriTrini
I think the news will play into technical analysis..........
I agree.
And if I were in a healthy trade, I would let it play out.
But with major news out in about an hour, I prefer not to initiate a new trade; and stand aside.
  • #63,909
  • May 2, 2008 7:06am May 2, 2008 7:06am
Cable 175pips up from current 9722 intraday lows, as we go into the Mthly circus that is U.s NFP data etc..

ADP (weds) going with +10k, consensus seems to be a drop in manuf jobs as well as overall for 4th consecutive mth.

G/l all.
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ex member
  • #63,910
  • May 2, 2008 7:10am May 2, 2008 7:10am
No need reading the numbers, they never work anyway. LOL
  • #63,911
  • May 2, 2008 7:10am May 2, 2008 7:10am
Quoting bbmac
Cable 175pips up from current 9722 intraday lows, as we go into the Mthly circus that is U.s NFP data etc..

ADP (weds) going with +10k, consensus seems to be a drop in manuf jobs as well as overall for 4th consecutive mth.

G/l all.
Are you expecting gbpusd to go higher after the news?
Expected the unexpected
  • #63,912
  • May 2, 2008 7:12am May 2, 2008 7:12am
Quoting scyang
Are you expecting gbpusd to go higher after the news?
Depends on the data and the previous month's revisions (if any) and a whole lot of other stuff. I have no idea (like the rest of the market) and will just trade any high probability set-ups that present themslves, either way.
ex member
  • #63,913
  • May 2, 2008 7:18am May 2, 2008 7:18am
Quoting AmeriTrini
I think the news will play into technical analysis..........
100% agree.
We saw in the past bad numbers for USD (Nonfarm Employment Change) and at the begining Dollar get a huge hit for bad news but after 20 minutes, more or less, Dollar ends strong very strong.

Technicals rules the extreme prices. Corrections and sentiment control the action.

I have in my lap top, the last Nonfarm Employment Change price action in video. I like to post them but I try this before without sucess. If someone let me know how to post a video, I will show you history about this indicator for your reference with this today.
  • #63,914
  • May 2, 2008 7:25am May 2, 2008 7:25am
Quoting Carrera
100% agree.
We saw in the past bad numbers for USD (Nonfarm Employment Change) and at the begining Dollar get a huge hit for bad news but after 20 minutes, more or less, Dollar ends strong very strong.

Technicals rules the extreme prices. Corrections and sentiment control the action.

I have in my lap top, the last Nonfarm Employment Change price action in video. I like to post them but I try this before without sucess. If someone let me know how to post a video, I will show you history about this indicator for your reference with this today.
what if NFP came in really better than expected
would that trigger a much stronger bearish move in cable?

cant wait to see ur videos
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #63,915
  • May 2, 2008 7:26am May 2, 2008 7:26am
trade The
momentum!!!
  • #63,916
  • May 2, 2008 7:27am May 2, 2008 7:27am
Quoting Carrera
100% agree.
We saw in the past bad numbers for USD (Nonfarm Employment Change) and at the begining Dollar get a huge hit for bad news but after 20 minutes, more or less, Dollar ends strong very strong.

Technicals rules the extreme prices. Corrections and sentiment control the action.

I have in my lap top, the last Nonfarm Employment Change price action in video. I like to post them but I try this before without sucess. If someone let me know how to post a video, I will show you history about this indicator for your reference with this today.
YOu Can refer you video on youtube and post the link here ....
Not by Might , Nor by Power .But by my spirit, Saith The LORD of Hosts
  • #63,917
  • May 2, 2008 7:27am May 2, 2008 7:27am
dont Try To
trade This
immediate
release!!!!

just My 2 Cents
  • #63,918
  • May 2, 2008 7:28am May 2, 2008 7:28am
quick,
where can we get a video for the report on the web????
  • #63,919
  • May 2, 2008 7:32am May 2, 2008 7:32am
All figures are pro-dollar. So we should see it tank in a minute ;-)
  • #63,920
  • May 2, 2008 7:32am May 2, 2008 7:32am
Lets see if the Daily pivot holds when tested
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