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Cable Update (GBPUSD)

  • #71,261
  • Jun 17, 2008 6:10pm Jun 17, 2008 6:10pm
hello guys....

i read the past post by Moe and i agree with u. i saw cable bowed and look at 9250 area but he need to confirm first. i think he need to go 9350 at least before he drop to 9250.
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  • #71,262
  • Jun 17, 2008 6:24pm Jun 17, 2008 6:24pm
Quoting amangking_81
hello guys....

i read the past post by Moe and i agree with u. i saw cable bowed and look at 9250 area but he need to confirm first. i think he need to go 9350 at least before he drop to 9250.
u r talking about 150 pips drop down to confirm 100 pip ? omg
  • #71,263
  • Jun 17, 2008 6:59pm Jun 17, 2008 6:59pm
Hope it's help.

KG
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  • #71,264
  • Jun 17, 2008 7:07pm Jun 17, 2008 7:07pm
well brit inflation is key here as far as fundies go.. but technically right now I can't find any direction.. it's like the calm before the storm. Im sidelined till something happens.

Good year, great month, incredible week so far though.
USD Est Non Mortuus
  • #71,265
  • Jun 17, 2008 8:12pm Jun 17, 2008 8:12pm
a straddle could actually work here.
USD Est Non Mortuus
  • #71,266
  • Jun 17, 2008 8:24pm Jun 17, 2008 8:24pm
Quoting LuckyLurker
a straddle could actually work here.
EXACTLY............

HOLLA
  • #71,267
  • Jun 17, 2008 8:43pm Jun 17, 2008 8:43pm
Quoting Kang_Gun
Hope it's help.

KG
Hi there, what are the red/blue dots on your charts? Are those buy/sell expert signals or just your own note-taking?
Trade the reaction, not the news!
  • #71,268
  • Jun 17, 2008 8:48pm Jun 17, 2008 8:48pm
Quoting Malaysia

It's ranging still after the Retracement until around 50% median. Now creating a FLAG FORMATION. Can place PO Sell and PO Buy outside the Flag to catch the BREAKOUT movement.

However, I already placed my premature SHORT with SL above 1.9600 and above 61.8% Fibbo. That is my SELL FROM BOUNCE.

That is about 50pips SL. But my TP will be around 100 to 200pips.

4:30pm GBP http://www.forexfactory.com/images/m...mpact_high.gif MPC Meeting Minutes

Uncle KING already giving out a hint yesterday regarding the danger of IR HIKE during STAGFLATION. He also will make a speech later on.

2:30am GBP http://www.forexfactory.com/images/m...mpact_high.gif BOE Governor King Speaks

Trade At Your Own Risk!!!
Daily Downtrend Channel still valid.

Weekly Downtrend Resistance line... still valid.

Monthly UPTrend still valid with the BLUE support line to be tested. However, the Retracement down to 50% Median still valid... which is also around the SUPPORT Blue line.

T.A.Y.O.R.
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  • #71,269
  • Jun 17, 2008 9:04pm Jun 17, 2008 9:04pm
Quoting Malaysia
20pips on the GREEN already Moving down my SL to 1pip on the green. I got nothing to lose anymore... but 1 pip to gain if it shoot up suddenly.

p/s: The FLAG just broke downside. Careful with possible FALSE BREAKOUT or spike.

T.A.Y.O.R.
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  • #71,270
  • Jun 17, 2008 9:13pm Jun 17, 2008 9:13pm
Quoting Turtle
EXACTLY............

HOLLA
WELCOME BACK
If I Go Broke Trying Then I Will die happy.
  • #71,271
  • Jun 17, 2008 9:33pm Jun 17, 2008 9:33pm
moe, are you ready?
Just digging in the trenches like everyone else!
  • #71,272
  • Jun 17, 2008 9:36pm Jun 17, 2008 9:36pm
Quoting Malaysia
Cable bear is struggling at 50% Retracement from Yesterday Low to Today High. Critical point. Break that have to pass through 61.8% Fibbo to make it highly probable for 100% Retracement. Upon breaking 100% retracement... I see 161.8% Fibbo as a logical level to TP for today as it also around 1.9400 psychological SUPPORT.

If this 50% Median (white fibbo) is holding strong... CABLE might shoot up and testing the DAILY PIVOT again... and upon breaking it upward might trigger lots of Buying/Long.

T.A.Y.O.R.

Which one will hit first? My 1pip green SL or my target around 1.9400 for today?
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  • #71,273
  • Jun 17, 2008 9:37pm Jun 17, 2008 9:37pm
Quoting Malaysia
Which one will hit first? My 1pip green SL or my target around 1.9400 for today?
Nice analysis! Good to see you Sham!
Just digging in the trenches like everyone else!
  • #71,274
  • Jun 17, 2008 9:39pm Jun 17, 2008 9:39pm
Quote
hello guys....

i read the past post by Moe and i agree with u. i saw cable bowed and look at 9250 area but he need to confirm first. i think he need to go 9350 at least before he drop to 9250.

Theres been strong resistance at the 1.9400 level for the last 2 months (roughly speaking the lowestest its been is.9360ish since January), its touched a couple of times and basically immediately(or near enough) retraced 100-200+ pips. I think we need a clean decisive break of .9400 and if so you might expect .9350 area anyway.

For me i have staggered buy limits in place at 1.9400 & 1.9325, Sell limits 1.9825 and 1.9900. But of course i"ll be watching and waiting.

Happy trading
  • #71,275
  • Jun 17, 2008 10:02pm Jun 17, 2008 10:02pm
Quoting eohater
Nice analysis! Good to see you Sham!
Thank you.

Quoting Malaysia
Please notice that I am not making a trade call... I am just reporting my own TRADES with analysis.

If you follow me... follow at your own risk. Just make sure don't turn those green pips into RED. Always place SL on BE or on the green whenever you are on the SAVE side.

If hit SL... nevermind... that will give you time to analyse again either to Re Enter at a Better Price... OR... switch position to go the opposite way.

That's my style.
  • #71,276
  • Jun 17, 2008 10:22pm Jun 17, 2008 10:22pm
Quoting Cdawg
Theres been strong resistance at the 1.9400 level for the last 2 months (roughly speaking the lowestest its been is.9360ish since January), its touched a couple of times and basically immediately(or near enough) retraced 100-200+ pips. I think we need a clean decisive break of .9400 and if so you might expect .9350 area anyway.

For me i have staggered buy limits in place at 1.9400 & 1.9325, Sell limits 1.9825 and 1.9900. But of course i"ll be watching and waiting.

Happy trading
Great long term outlook on the pair! I like your positions I believe we're building enough steam to break through the 1.9400 area down towards 1.9250 before seeing your sell limits. My monthly is showing a possible completion of the bear on the channel that has been bullish since June 2001. I don't think we will see all this tonight.

Tonight, I'm looking for a possible pull back around 1.9575-1.9600 or earlier, before going short to 1.9475-1.9450.

We'll see! Good luck tonight!
Just digging in the trenches like everyone else!
  • #71,277
  • Jun 17, 2008 10:54pm Jun 17, 2008 10:54pm
From what i can tell both economies are in the tank, and I don't see any real "good" news on the US behalf or "bad" news on the GBP to drive it down to the 1.9250 area.

That said anything can happen

Quote
Tonight, I'm looking for a possible pull back around 1.9575-1.9600 or earlier, before going short to 1.9475-1.9450.

I agree though if there is a pull back to the 1.96xx level, i'll be looking to short.

Cheers
  • #71,278
  • Jun 17, 2008 11:30pm Jun 17, 2008 11:30pm
Possibly low volume with movements in direction of the trend then. 8-1 hold of MPC meeting minutes should already be factored in upward/retracement move to 1.9550.

Possible market speculation of GBP retail sales and USD unemployment claims and might bring resumption of trend - may/may not touch 1.9700 - which would be a relatively low risk short trade @ about 1.9675.

Bearing in mind that EUR sentiment dropped; if GBP gives bad numbers and USD outlook remains neutral, we would see a nice sexy curve down to 1.9450 again. oh-la-la =)
Trade the reaction, not the news!
  • #71,279
  • Jun 17, 2008 11:57pm Jun 17, 2008 11:57pm
Quoting Abuawad
18-06-2008
Hi Abuawad,

I am new to the forum and found your postings very interesting. In your posted trade recommendation, the last few lines are invisible. Would you please type it in?
Many Thanks
Ehsan
  • #71,280
  • Jun 18, 2008 12:07am Jun 18, 2008 12:07am
Cable is testing that 50% Median again... looks like a strong BEAR
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