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Cable Update (GBPUSD)

  • #66,661
  • May 20, 2008 5:29am May 20, 2008 5:29am
whatever you do Nav dont enter in long cos am in long!!
only kiddin!!
  • #66,662
  • May 20, 2008 5:31am May 20, 2008 5:31am
I no what you mean Nav might not be a great entry right there.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #66,663
  • May 20, 2008 5:31am May 20, 2008 5:31am
Quoting baron193
What about this?
Attachment
My weekly analysis would suggest CABLE is headed further South (MACD X short (although a weak one), EMA's Short and potential short squeeze), but it certainly looks like a bounce off the neckline on your chart.

On the daily charts however it does look like the short rally has come to an end. With these mixed signals I'm going to stand aside (as are a couple of other wise posters!)
  • #66,664
  • Edited 5:48am May 20, 2008 5:44am | Edited 5:48am
Quote
My weekly analysis would suggest CABLE is headed further South (MACD X short (although a weak one), EMA's Short and potential short squeeze), but it certainly looks like a bounce off the neckline on your chart.

On the daily charts however it does look like the short rally has come to an end. With these mixed signals I'm going to stand aside (as are a couple of other wise posters!)
Yes you're right it's not tradeable, but it's still usefull to have in the back of your mind, in the end, that classic saying overules everything (for a daytrader), trade what you see....i could not trade what the market's given us today, i did not have a set up i could use...
Biggest joker
  • #66,665
  • May 20, 2008 5:52am May 20, 2008 5:52am
Quoting uncleforex
Good area to long as it is at the bottom of the trend line.

Should bounce back up and make a new high for tomorrow.
Congrats to those who followed me.
  • #66,666
  • May 20, 2008 5:53am May 20, 2008 5:53am
Best time to short g/u for 40pips down.

Cheers.
  • #66,667
  • May 20, 2008 5:59am May 20, 2008 5:59am
we still have US PPI
if that number comes in weak cable might pass 9730 area.

on the other hand a stronger than expected PPI might cause traders to run towards dollar because of possible rate hikes.

any comments are appreciated.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #66,668
  • May 20, 2008 6:00am May 20, 2008 6:00am
Quoting uncleforex
Congrats to those who followed me.
oh no, not another ego manic!!
Trading is 80% Emotional, 20% Technical
  • #66,669
  • May 20, 2008 6:01am May 20, 2008 6:01am
Quoting salah k.
we still have US PPI
if that number comes in weak cable might pass 9730 area.

on the other hand a stronger than expected PPI might cause traders to run towards dollar because of possible rate hikes.

any comments are appreciated.
not a bad contention....
Trading is 80% Emotional, 20% Technical
  • #66,670
  • May 20, 2008 6:04am May 20, 2008 6:04am
thnx bro lets just hope the news doesnt come out exactly as expected
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #66,671
  • May 20, 2008 6:09am May 20, 2008 6:09am
the yanks dont care about inflation anyway, there figs are complete waste of time, according to there CPI gasoline actually went down last month, when its at all time high at the pumps hmm...
Trading is 80% Emotional, 20% Technical
  • #66,672
  • May 20, 2008 6:10am May 20, 2008 6:10am
Ive droped out there ,would need a close above the TL to go back in or on a pull back PA set up.
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #66,673
  • May 20, 2008 6:11am May 20, 2008 6:11am
Quoting fx local
the yanks dont care about inflation anyway, there figs are complete waste of time, according to there CPI gasoline actually went down last month, when its at all time high at the pumps hmm...
how can this happen????
won't people realize
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #66,674
  • May 20, 2008 6:13am May 20, 2008 6:13am
Quoting Bones
Ive droped out there ,would need a close above the TL to go back in or on a pull back PA set up.
That's what I was thinking. A nice risk and reward short taken.
  • #66,675
  • May 20, 2008 6:13am May 20, 2008 6:13am
"the senate reached a new housing deal" CNBC europe

wow would be good to see that housing has found a bottom
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #66,676
  • May 20, 2008 6:16am May 20, 2008 6:16am
Quoting uncleforex
Best time to short g/u for 40pips down.

Cheers.

apart from the fact that we sitting on major support right now, which could hold..this could be why we not retracing down as of yet..
  • #66,677
  • May 20, 2008 6:19am May 20, 2008 6:19am
Good morning guys.

Hmm, nice rally for cable.

1.9730 area is more or less the 4H top of the tunel. Chart from last week shows that and probably will happen. Let's see.
  • #66,678
  • May 20, 2008 6:20am May 20, 2008 6:20am
Does anyone know which company has the lowest pip spread?
  • #66,679
  • May 20, 2008 6:39am May 20, 2008 6:39am
Quoting salah k.
how can this happen????
won't people realize
it from hows the way the figure is derived, pure manpulation, dont think any consumer in US actually believes them CPI numbers
Trading is 80% Emotional, 20% Technical
  • #66,680
  • May 20, 2008 6:44am May 20, 2008 6:44am
Quoting salah k.
we still have US PPI
if that number comes in weak cable might pass 9730 area.

on the other hand a stronger than expected PPI might cause traders to run towards dollar because of possible rate hikes.

any comments are appreciated.
.

Sounds logical if taken in isolation, but will the FED take any action that could detimentally affect the already precarious state of their economy and markets (like a rate rise). As you mentioned in previous posts - stagflation is a real bummer to deal with.

If there is little notice given to inflation indicators in the states (I can't comment on this because I don't know) then perhaps the PPI figures will be completely ignored?
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