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Cable Update (GBPUSD)

  • #5,481
  • Feb 8, 2007 3:03am Feb 8, 2007 3:03am
what about the trichet,...he might raise them too...?
its just money
  • #5,482
  • Feb 8, 2007 3:07am Feb 8, 2007 3:07am
Took some profit @ 9661.... taking too long in this area... I'll short again below 9657...

9657 is next fibo, was touched and is where 250EMA in the hourly lies. This 250 EMA is not a wall, but price usually stalls at it or reverses at it.

15 min stoch is reading huuuuge extremes. May find some room for further down move but I'm not taking that chance...

1hr is well on the down side but at a critical level... I'd like to see <30 reading in RSI for 40-50 is a good place to reverse.....
  • #5,483
  • Feb 8, 2007 3:07am Feb 8, 2007 3:07am
Quoting cesarnc
Anyone running this fibo?

HIGH - 9732
23 - 9686 - reached
38 - 9657 - not yet
50 - 9634 - up trend line below it
61 - 9610 - up trend line above it
78 - 9577 - not likely?
LOW - 9535
What do you mean by the up trend line below/above it? can you post a chart please
Trade what you see, not what you think.
  • #5,484
  • Feb 8, 2007 3:08am Feb 8, 2007 3:08am
Quoting de123
what about the trichet,...he might raise them too...?
Expected no-hike. But a HIKE would set EURO on fire.... I'd abandon Cable for weeks in this case
  • #5,485
  • Feb 8, 2007 3:14am Feb 8, 2007 3:14am
Quoting karmostaji
What do you mean by the up trend line below/above it? can you post a chart please
Here it is...

http://i2.photobucket.com/albums/y28/cesarnc/feb-8.jpg
  • #5,486
  • Feb 8, 2007 3:15am Feb 8, 2007 3:15am
Thanks bro
Trade what you see, not what you think.
  • #5,487
  • Feb 8, 2007 3:23am Feb 8, 2007 3:23am
Quoting karmostaji
Thanks bro
This trend line is holding strong for AGES now. We are likely to see a spike below it, testing 9600 area, but I'm trading this trend line big time
  • #5,488
  • Feb 8, 2007 3:28am Feb 8, 2007 3:28am
Quoting cesarnc
This trend line is holding strong for AGES now. We are likely to see a spike below it, testing 9600 area, but I'm trading this trend line big time
yep, waiting for a good price to short again to low 9600's
Trade what you see, not what you think.
  • #5,489
  • Feb 8, 2007 3:38am Feb 8, 2007 3:38am
Quoting karmostaji
yep, waiting for a good price to short again to low 9600's
Same here... I'd like to see a bounce at 9680 to get rid of it for good.
  • #5,490
  • Feb 8, 2007 4:15am Feb 8, 2007 4:15am
London back to London open... That's intriguing... What you guys thinking?
  • #5,491
  • Feb 8, 2007 4:16am Feb 8, 2007 4:16am
Price has come back to 23.6 fibo line..

Hmm, might touch 9700 then fall again.. let's see
Trade what you see, not what you think.
  • #5,492
  • Feb 8, 2007 4:25am Feb 8, 2007 4:25am
I still have SHORT signals but of course all that can change at 7AM EST with BOE's interest rate announcement. We shall see............
Show me the PIPS!
  • #5,493
  • Feb 8, 2007 4:46am Feb 8, 2007 4:46am
Not likely to see a retest in the 9660 area prior to the announcement.

In the other hand, the no-hike may be already priced in with this 72 pips down from 9728 today.

My strategy will be staying aside of the panic move and buy lowest as possible if the up trend line is not broken. The hour after the announcement may set the direction. This announcement is being said across the board as "non-event", that's why my thoughts. The 9666 itself may hold a possible attempt downwards.

Up trend is still in shape with a critical fibo yet to be revisited (9747) and another to be tested (9821). I don't see the point of medium term short position as of NOW.

On a hike, I'll jump in like a dog
  • #5,494
  • Feb 8, 2007 4:58am Feb 8, 2007 4:58am
Because i see alot of experinsed traders here , i want to ask him and all traders if they are in long position now from yesterday [email protected] (highest yesterday) what you will do now , even you have 2 lots in process ?


I feel today there is hike to 5.50% , do i play on this risk or close my position as soon as possible.

please advice is requested here ?

Thanks
  • #5,495
  • Feb 8, 2007 5:02am Feb 8, 2007 5:02am
Pray.
Trade what you see, not what you think.
  • #5,496
  • Feb 8, 2007 5:16am Feb 8, 2007 5:16am
Quoting eng_hisham
Because i see alot of experinsed traders here , i want to ask him and all traders if they are in long position now from yesterday [email protected] (highest yesterday) what you will do now , even you have 2 lots in process ?


I feel today there is hike to 5.50% , do i play on this risk or close my position as soon as possible.

please advice is requested here ?

Thanks
If you have room for it, place SL below 9600, watch for retracement & price action on the following days.

And of course, pray on the way
  • #5,497
  • Feb 8, 2007 5:17am Feb 8, 2007 5:17am
even if its sell off,..after that it wil be a nice long term buying oportunity,...election thing...
its just money
  • #5,498
  • Feb 8, 2007 5:18am Feb 8, 2007 5:18am
Ditto the "pray" comment. I am not saying a rate hike isn't possible but the general consensus is that a hike isn't likely . Still showing STRONG SELL signals here. Again 7AM EST will tell all.........
Show me the PIPS!
  • #5,499
  • Feb 8, 2007 5:21am Feb 8, 2007 5:21am
Quoting tathlynq
Ditto the "pray" comment. I am not saying a rate hike isn't possible but the general consensus is that a hike isn't likely . Still showing STRONG SELL signals here. Again 7AM EST will tell all.........
But c'mon, it would be fun to see 5.5% appearing in the FF calendar in 40 min

  • #5,500
  • Feb 8, 2007 5:23am Feb 8, 2007 5:23am
  •  vrama
  • | Joined Dec 2006 | Status: BE at right place@right time = LUCK | 210 Posts
From the BBC website:
Rates expected to stay the same but chance of a surprise.

LINK here: http://news.bbc.co.uk/1/hi/business/6339477.stm
All things are difficult before they are easy.
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