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Cable Update (GBPUSD)

  • #76,861
  • Jul 22, 2008 10:28am Jul 22, 2008 10:28am
Twee un-ban Moe please. General consensus from the regulars on this thread is that we like him as he is. he brings humor to this thread.

So majority rules, un-ban Moe


to Twee for unbanning Moe!
  • #76,862
  • Jul 22, 2008 10:29am Jul 22, 2008 10:29am
Hi,

If the cable cannot reach 1.9780ish by tom, there a chance that the price will bounce to test 2.0150ish.IMHO

Quoting Infinity
Your analysis is quite possible. This was what I was seeing but it is breached as a write this. I got 100 pips from this move and I am out for now.

There is a lot of room to move down more on the 4h chart and there was weakness in the weekly chart from the get go.. I think 9800 area this week...
  • #76,863
  • Jul 22, 2008 10:32am Jul 22, 2008 10:32am
low in place at 1.9927............
  • #76,864
  • Jul 22, 2008 10:34am Jul 22, 2008 10:34am
Quoting warta
sup bro
Yo Warta,

Everything is going great. The cable is has been my main pair for the past weeks. I only took about 4 geppy trades in the past 3 weeks. I hope all is well with you bro. Good luck to you this week.
Patience + Discipline - Greed = Success
  • #76,865
  • Jul 22, 2008 10:35am Jul 22, 2008 10:35am
Quoting AmeriTrini
low in place at 1.9927............
guess not...........LOL!!

we probably will not go lower than 1.9906
  • #76,866
  • Jul 22, 2008 10:36am Jul 22, 2008 10:36am
Quoting AmeriTrini
low in place at 1.9927............
my support line at 1.9919
  • #76,867
  • Jul 22, 2008 10:39am Jul 22, 2008 10:39am
Quoting Infinity
Yo Warta,

Everything is going great. The cable is has been my main pair for the past weeks. I only took about 4 geppy trades in the past 3 weeks. I hope all is well with you bro. Good luck to you this week.

hey infinity glad to hear the good news and wish u trillion of pips
well i got 264 pips buy shorting E/U and G/U and seem G/J will fall hard soon
it was my call from the morning ,
well bro keep good work and happy trade
cheers
  • #76,868
  • Jul 22, 2008 10:41am Jul 22, 2008 10:41am
am out guys , main target is 904 but am out @ 915
see u tomorrow
  • #76,869
  • Jul 22, 2008 10:45am Jul 22, 2008 10:45am
Quoting warta
am out guys , main target is 904 but am out @ 915
see u tomorrow
great man
see you tomorrow
When life gives you lemons, make lemonade
  • #76,870
  • Jul 22, 2008 10:45am Jul 22, 2008 10:45am
was diverence on dailly...this is why the longs scared the hell out of me..thx god i never went long at the top.....

i definately would turned into rambo
  • #76,871
  • Jul 22, 2008 10:46am Jul 22, 2008 10:46am
Quoting parlenk
Hi,

If the cable cannot reach 1.9780ish by tom, there a chance that the price will bounce to test 2.0150ish.IMHO
Based on the weekly, we could see this level very soon.... also,look at the daily....

I still think a close below the daily 200sma (currently 1.9951) will accelerate this move down... If 1.9905 is taken out, its on.....
Patience + Discipline - Greed = Success
  • #76,872
  • Jul 22, 2008 10:48am Jul 22, 2008 10:48am
[15:00 GBP/USD: Greenback Well Bid on Light Calendar Day] New York, July 22. The dollar has received quite a boost this morning with the pair trading well off of the session opening levels of 2.0065 to fresh intraday lows back under the 2 handle. A number of factors have helped to generate good demand for the greenback with both Paulson and Plosser coming out with comments that are certainly supportive of a stronger USD. In rare form, Treasury Secretary Paulson seemed to have suggested that the Fed should be looking to utilize their powers to offset rising inflation and the falling USD.
Plosser, a well known hawk has stated clearly that interest rates can not stay at current levels for much longer. Another huge boost for the USD today comes from the heavy setbacks in oil which now trades back in the 120"s, along with a resilient stock market that has managed to recover from the flurry of less than impressive earnings reports. Initial support comes in around 1.9950 with a break below expected to open deeper setbacks to challenge 1.9900. Only back above 2.0100-55 ultimately negates.
USD Est Non Mortuus
  • #76,873
  • Jul 22, 2008 10:54am Jul 22, 2008 10:54am
Quoting Infinity
Based on the weekly, we could see this level very soon.... also,look at the daily....

I still think a close below the daily 200sma (currently 1.9951) will accelerate this move down... If 1.9905 is taken out, its on.....
This daily doesn't say anything bearish, today's candle broke the high of the last three days!!! what is bearish about that? and not to mention the low has not be taken out as of yet, take a look at that daily again and reaccess the situation........I'm sure your view will change and as far as the weekly goes, the bullish trend has been getting stronger for the last two weeks. This is an opportunity to buy on a dip!!!

  • #76,874
  • Jul 22, 2008 11:01am Jul 22, 2008 11:01am
Quoting AmeriTrini
This daily doesn't say anything bearish, today's candle broke the high of the last three days!!! what is bearish about that? and not to mention the low has not be taken out as of yet, take a look at that daily again and reaccess the situation........I'm sure your view will change and as far as the weekly goes, the bullish trend has been getting stronger for the last two weeks. This is an opportunity to buy on a dip!!!

Trade what you see bro, I will do the same..

bless
Patience + Discipline - Greed = Success
  • #76,875
  • Jul 22, 2008 11:07am Jul 22, 2008 11:07am
What fun old cheeses !

Paulson talks a good game but he would be lynched if he put interest rates up now - and with an election in the offing ? What if oil went back up the day after ? Would cable react downwards to a move that would increase US interest rates .25% but torpedo GDP ? big volatility if he did do it

When the market realises it is hot air, cable can stay boring again .94 to 2.0 ish

But it does seem so fragile like nobody is comfortable over 2.... the longer that goes on, I see more the chance of a fall back rather than the chance of a break to the upside
  • #76,876
  • Jul 22, 2008 11:10am Jul 22, 2008 11:10am
Quoting AmeriTrini
This daily doesn't say anything bearish, today's candle broke the high of the last three days!!! what is bearish about that? and not to mention the low has not be taken out as of yet, take a look at that daily again and reaccess the situation........I'm sure your view will change and as far as the weekly goes, the bullish trend has been getting stronger for the last two weeks. This is an opportunity to buy on a dip!!!

I agree despite my last post, but I am looking for a ride to 2.0 then jumping ship as it's just too psychological there
  • #76,877
  • Jul 22, 2008 11:10am Jul 22, 2008 11:10am
Quoting allserene
What fun old cheeses !

Paulson talks a good game but he would be lynched if he put interest rates up now - and with an election in the offing ? What if oil went back up the day after ? Would cable react downwards to a move that would increase US interest rates .25% but torpedo GDP ? big volatility if he did do it

When the market realises it is hot air, cable can stay boring again .94 to 2.0 ish

But it does seem so fragile like nobody is comfortable over 2.... the longer that goes on, I see more the chance of a fall back rather than the chance of a break to the upside
More or less thats about how I feel about it too. Same ol' Same ol'. Still looking to buy at my original target.
USD Est Non Mortuus
  • #76,878
  • Jul 22, 2008 11:16am Jul 22, 2008 11:16am
Quoting LuckyLurker
More or less thats about how I feel about it too. Same ol' Same ol'. Still looking to buy at my original target.
Hi, It hasn't reached your target to place longs, so according to your system have you stayed out of the market completely or do u scalp a bit here and there?
  • #76,879
  • Jul 22, 2008 11:17am Jul 22, 2008 11:17am
Quoting allserene
I agree despite my last post, but I am looking for a ride to 2.0 then jumping ship as it's just too psychological there
Nah, we will be ending up way higher than that, if anything take the positive roll, lock in profits and get ready to go long again Mr. Serene!!

  • #76,880
  • Jul 22, 2008 11:26am Jul 22, 2008 11:26am
can it breach 19900 tonight ?
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