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Daily Cable Analysis

  • #5,881
  • Feb 9, 2007 6:39am Feb 9, 2007 6:39am
going back up to 9500 is likely now.
I Deeply Love My Virtual Life In Virtual World , RLC
  • #5,882
  • Feb 9, 2007 8:28am Feb 9, 2007 8:28am
Not my words, it's from DailyFX:

GBPUSD - Our focus remains for a test of 1.9307, which is where the decline from 1.9750 would equal the 1.9915-1.9482 decline. The decline below last week?s low at 1.9482 bolsters the bearish case as does the break below a supporting trendline drawn off of the 10/16/2006, 11/17/2006, and 1/9 lows. A decline to 1.9307 would possible complete an a-b-c correction but an extension of weakness to below 1.9261 would suggest that a much deeper decline was underway. Near term resistance is yesterday?s low at 1.9543.
  • #5,883
  • Edited 9:51am Feb 9, 2007 9:48am | Edited 9:51am
Quoting notouch
It was a gamble to enter at that level before the interest rate announcement. If the BofE had hiked rates your stop could have been taken out with 100 pips slippage. With any technical system you should be keeping an eye out for fundamental risks.
It seems like everytime we actually enter the market it's a risk. There is always a chance that our positions could go against us.

I entered this after the Candle closed below the middle BB, and News had already been announced, that was the reason the price dropped their in the first place.

Then before London Today, I had seen the Fibo retracement was weak, so I re-entered the Short for the next downward move below 1.9500.

The two Fibo's are:
The 50% on this last move at 1.9535/37 area
and the 50% on the last two downward moves at 1.9587/90 area.



I had originally made 85 pips on this one strategy, and then continued to add profits from the Open today.

I will be watching once again when market opens for a large retracement, but if there is weakness, I will Short to the next lower level around 1.9400 or below.
  • #5,884
  • Feb 9, 2007 9:53am Feb 9, 2007 9:53am
Quoting SunTrader
Not my words, it's from DailyFX:

GBPUSD - Our focus remains for a test of 1.9307, which is where the decline from 1.9750 would equal the 1.9915-1.9482 decline. The decline below last week?s low at 1.9482 bolsters the bearish case as does the break below a supporting trendline drawn off of the 10/16/2006, 11/17/2006, and 1/9 lows. A decline to 1.9307 would possible complete an a-b-c correction but an extension of weakness to below 1.9261 would suggest that a much deeper decline was underway. Near term resistance is yesterday?s low at 1.9543.
I still have the Fibo Level from the Bull run in Nov-Dec 06 at 1.9210 area, this would be my 2nd target area after the 1.94 is breached.
  • #5,885
  • Feb 9, 2007 10:47am Feb 9, 2007 10:47am
Quoting notme32
going back up to 9500 is likely now.
now hoping back down to 9485
I Deeply Love My Virtual Life In Virtual World , RLC
  • #5,886
  • Feb 9, 2007 1:11pm Feb 9, 2007 1:11pm
not yet, i am boring, better sleep and wake with profit... bla bla bla.......
I Deeply Love My Virtual Life In Virtual World , RLC
  • #5,887
  • Feb 9, 2007 1:20pm Feb 9, 2007 1:20pm
Nah...... Got you......!!!!!.:

YOU Open this thread again and see my post again....

What are you looking for ?

Ah must be...... about making pips......... ahhahhahahh

friday is time to chat.

pips will be your at monday.........hahahahha.

bye.and smile.
I Deeply Love My Virtual Life In Virtual World , RLC
  • #5,888
  • Feb 9, 2007 1:41pm Feb 9, 2007 1:41pm
next week war will be on 1.9430


are u agree???
  • #5,889
  • Feb 9, 2007 1:46pm Feb 9, 2007 1:46pm
Quoting viking
next week war will be on 1.9430


are u agree???
unless BOE decides to have a surprise rate hike after all
  • #5,890
  • Feb 9, 2007 1:51pm Feb 9, 2007 1:51pm
gbp failed to break 1.9450 we could see 1.9700 once again, must stay below 1.9550 or back to the top is likely
  • #5,891
  • Feb 9, 2007 1:59pm Feb 9, 2007 1:59pm
Quoting 59fender
gbp failed to break 1.9450 we could see 1.9700 once again, must stay below 1.9550 or back to the top is likely

haha

i think you make big mistake

GBP breaked 1.9480 that was a great support
we have another support on 1.9430 .... and i dont think it will back to 1.9700 when market break a downward support ... will fall more
  • #5,892
  • Feb 9, 2007 2:11pm Feb 9, 2007 2:11pm

Next Week


The week is dominated by events coming out from the US, with Fed chairman Ben Bernanke testimonies on Wednesday and Friday dominating the economic agenda in the States. But the week has plenty of other important data coming out. On Tuesday, Trade Balance figures will show the state of the economy from an international point of view. On Wednesday, retail sales and business inventories in the menu. On Thursday, TIC data, Industrial Production and Philly Fed survey to give the markets some volatility to digest. And just for the finishing of a brilliant start, PPi data is due out on Friday, along with some housing figures coming out.
  • #5,893
  • Feb 9, 2007 2:14pm Feb 9, 2007 2:14pm
i think it will break 1.9430 monday or tuesday, then test 1.9300
big money to be made in cable next week
i will continue to add to my short if and when it breaches the 1.9430--1.94 area

lets hope this happens it will be a good month for me

have a good weekend everyone
  • #5,894
  • Feb 9, 2007 2:40pm Feb 9, 2007 2:40pm
market sentiment is down, overall trend is still up. this was an attempt to break down, lets see
  • #5,895
  • Feb 9, 2007 2:56pm Feb 9, 2007 2:56pm
Quoting monarch
It seems like everytime we actually enter the market it's a risk. There is always a chance that our positions could go against us.

I entered this after the Candle closed below the middle BB, and News had already been announced, that was the reason the price dropped their in the first place.

Then before London Today, I had seen the Fibo retracement was weak, so I re-entered the Short for the next downward move below 1.9500.

The two Fibo's are:
The 50% on this last move at 1.9535/37 area
and the 50% on the last two downward moves at 1.9587/90 area.



I had originally made 85 pips on this one strategy, and then continued to add profits from the Open today.

I will be watching once again when market opens for a large retracement, but if there is weakness, I will Short to the next lower level around 1.9400 or below.
Good strategy. From your post I thought you'd opened your position before the interest rate decision was announced which would have been a mad gamble.
  • #5,896
  • Feb 9, 2007 3:25pm Feb 9, 2007 3:25pm
Quoting 59fender
market sentiment is down, overall trend is still up. this was an attempt to break down, lets see
my friend could you tell me how do you find that trend still up ? :
  • #5,897
  • Feb 9, 2007 4:18pm Feb 9, 2007 4:18pm
Quoting viking
my friend could you tell me how do you find that trend still up ? :
Second you.

If we go down to 9200s, like people / reports are suggesting we should declare it a ranging market in the long run. Like EUR is at.

May be up one week, down the other, but without boosting through 9900 / 2.0000 fast and furious, this is no longer a long term uptrend.

BTW, USD is rangebounds for a month now.

Now if it hits 91xx and fails to go through 9720 + same behaviour on EUR and USD, then we will be watching lower lows and lower highs... Find your bulls a cover.
  • #5,898
  • Feb 9, 2007 6:29pm Feb 9, 2007 6:29pm
Quoting cesarnc
Second you.

May be up one week, down the other, but without boosting through 9900 / 2.0000 fast and furious, this is no longer a long term uptrend.

You know well that , market need heavy power for going that way, maybe GBP change interest rate to 5.5. or 5.75

but will not happend in next month ....
  • #5,899
  • Feb 9, 2007 6:31pm Feb 9, 2007 6:31pm
The British pound depreciated sharply vis-à-vis the U.S. dollar today as ...
cable tested bids around the US$ 1.9455 level and was capped around the $1.9600 figure. Stops were reached below the $1.9510 level, representing the 61.8% retracement of the move from $1.9260 to $1.9915. Cable came off further after it was reported that the U.K.’s overall trade deficit reached a record high in 2006 at -₤84.3 billion, much worse than 2006’s -₤68.8 billion level. December’s goods trade deficit widened to -₤7.1 billion. Notably, sterling was off nearly three U.S. cents this week. Cable bids are cited around the US $1.9415 level.
  • #5,900
  • Feb 9, 2007 6:47pm Feb 9, 2007 6:47pm
Quoting viking
my friend could you tell me how do you find that trend still up ? :
I'll tell you.
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