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Cable Update (GBPUSD)

  • #5,641
  • Feb 9, 2007 4:10am Feb 9, 2007 4:10am
Quoting cesarnc
Not responding yet... EUR just broke 1.3000..

Hey dont count on EUR ,

they are not same .....
  • #5,642
  • Feb 9, 2007 4:20am Feb 9, 2007 4:20am
Think she's out of steam?Maybe start to retrace?
Show me the PIPS!
  • #5,643
  • Feb 9, 2007 4:23am Feb 9, 2007 4:23am
Errrmmm...I think we might be going to 1.92 ....I was thinking since just now, having this move on Friday....Right now things are oversold on 1 hour chart..but after Saturday and Sunday, it should be moving out of that level...So they can continue the move down...
I am just here to talk nonsense =D
  • #5,644
  • Feb 9, 2007 4:26am Feb 9, 2007 4:26am
Quoting tathlynq
Think she's out of steam?Maybe start to retrace?

cable plunged down surprisingly....but now looks like retracement abt to start...whats the limit of this retracement, anybody?
  • #5,645
  • Feb 9, 2007 4:36am Feb 9, 2007 4:36am
Quoting cesarnc
When I look at 4h chart first week this year, I get cold feet here. The pattern is the same.

Actually we had that huge selloff that was reversed by the "surprising" rate hike, that push it back up.

Market had an excessive reaction on a no-hike yesterday. Made it look like a rate cut!

If the market is resuming that 1st week selloff now that rates are defined, we're seeing 9200.

And there's this ancient fibo that wasn't completed yet : Low 9262, high 9913. We are hanging right at the 50 (9511), the 78 is 9401...

I'm absolutely clueless here. Cable is not responding to retracement for many many hours.
When I look at current activity there is only one way this baby is going and that is down. I agree the previous sell-off (before rate hike) will probably pick up where it left off. No further important news due out. Here in UK it's poets day and our traders do like their beer plus US market will probably take line of least resistance - short - 1.9200 target.
  • #5,646
  • Feb 9, 2007 4:38am Feb 9, 2007 4:38am
Forex gods were with me yesterday as my sl missed by 1 pip and was able to get out b/e. As for today, can't stand fridays but as far as weeklys concerned, we are at a key level - todays and mondays action should give us a good clue as to where we go from here.
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  • #5,647
  • Feb 9, 2007 4:56am Feb 9, 2007 4:56am
4hr forming a pin-bar, 1hr to go. If closing above 9500 we may have seen the bottom...
  • #5,648
  • Feb 9, 2007 6:01am Feb 9, 2007 6:01am
Quoting cesarnc
4hr forming a pin-bar, 1hr to go. If closing above 9500 we may have seen the bottom...
Not formed
  • #5,649
  • Feb 9, 2007 6:04am Feb 9, 2007 6:04am
GU is smelling 92xx, it doesn't want to retrace lol..
Trade what you see, not what you think.
  • #5,650
  • Feb 9, 2007 6:10am Feb 9, 2007 6:10am
Quoting karmostaji
GU is smelling 92xx, it doesn't want to retrace lol..
Smelling shit... here we go for another breakout OR not even that in case US don't show up as USUAL.
  • #5,651
  • Feb 9, 2007 6:11am Feb 9, 2007 6:11am
Cable is playing a game, it always bounces at 00s exactly. Yesterday before rate decision, it bounced from 9700. Today earlier, again from 9600. And just now 1+ hr ago it bounced again from 9500. Hmm...
Tra-X
  • #5,652
  • Feb 9, 2007 6:13am Feb 9, 2007 6:13am
Quoting cesarnc
Smelling shit... here we go for another breakout OR not even that in case US don't show up as USUAL.
If you've had a bad day then my day was worse but it's okay.. we learn from our mistakes

Let's see what the US market has to say..
Trade what you see, not what you think.
  • #5,653
  • Feb 9, 2007 6:29am Feb 9, 2007 6:29am
Quoting karmostaji
If you've had a bad day then my day was worse but it's okay.. we learn from our mistakes

Let's see what the US market has to say..
Landscape changes way to fast. Today's move down was boosted by a YEN carry trade. Now Yen has retraced, EUR is onw its way back and Cable went further down!!!

Now cable is merely mimicking EUR. Try leaning with this!
  • #5,654
  • Feb 9, 2007 6:33am Feb 9, 2007 6:33am
Quoting cesarnc
Landscape changes way to fast. Today's move down was boosted by a YEN carry trade. Now Yen has retraced, EUR is onw its way back and Cable went further down!!!

Now cable is merely mimicking EUR. Try leaning with this!
Sorry, just venting...
  • #5,655
  • Feb 9, 2007 6:34am Feb 9, 2007 6:34am
[NORTH AMERICA FX OPEN] A welter of talk is in prospect. All three Fed speakers are due to speak on the economy, while there is plenty of scope for anti-Jpy weakness talk (the Europeans) and a more relaxed stance (everyone else) as the newswires doorstep the various G7 attendees. Should the Fed speakers follow Plosser of Weds, the Usd should be propped
  • #5,656
  • Feb 9, 2007 6:36am Feb 9, 2007 6:36am
How irritating! I was so ready to short the pound this morning. We have an obvious breakout on the trendline on the daily chart but it started moving a bit early. How do you guys fit the market around your day, for those who aren't primarily traders?
  • #5,657
  • Feb 9, 2007 6:45am Feb 9, 2007 6:45am
Hi thereCable supports looking at 1.9420 at the moment if its break then the market will give you a nice short till 1.9315-1.9330Good luck
  • #5,658
  • Feb 9, 2007 6:46am Feb 9, 2007 6:46am
Quoting 17121712
How irritating! I was so ready to short the pound this morning. We have an obvious breakout on the trendline on the daily chart but it started moving a bit early. How do you guys fit the market around your day, for those who aren't primarily traders?
Triangle forming in the 15M. We're on US hands now... No idea if GBP is fading at its low, is building fuel to drop or if it is just mocking us here until market closes
  • #5,659
  • Feb 9, 2007 7:13am Feb 9, 2007 7:13am
Retracement to 520 looks most likely to me right now. If, however, it breaks to the downside it could make it's way down to 400. Although 400 would make it a little over extended. Either ay I think we have more donside to come.
  • #5,660
  • Feb 9, 2007 7:32am Feb 9, 2007 7:32am
Quoting 17121712
How irritating! I was so ready to short the pound this morning. We have an obvious breakout on the trendline on the daily chart but it started moving a bit early. How do you guys fit the market around your day, for those who aren't primarily traders?
you shoulda put your short in last night. the 50,100, and 200 ema's were all crossed pointing down, this was an obvious downtrend continuation pattern. we may see a bounce from here, as it seems that the london boys sell the pound, an then the us buys it back up. my opinion is that the cable will have farther to fall in the near future.
"i wake up in the morning, and i piss excellence"
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