Daily Cable Analysis | Page 296 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Is it just me or is cable acting random? 49 replies

Fundamental Analysis, Technical Analysis Or Graph Analysis? 28 replies

CABLE Centurion 16 replies

Cable: Measuring Fibonacci From Where ? 29 replies

Attachments: Daily Cable Analysis
Exit Attachments

Daily Cable Analysis

  • #5,901
  • Feb 9, 2007 7:51pm Feb 9, 2007 7:51pm
Quoting viking
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
You two are seeing different things, there's nothing wrong with that. But just because 1.9480 is broken doesn't mean there's not another trader at 1.9430 willing to aggressively defend his position.
I agree with 59fenders comments, this is a bull market after all.
  • #5,902
  • Feb 9, 2007 8:11pm Feb 9, 2007 8:11pm
Uptrend/downtrend really depends on timeframe right? Imo in daily it's nearly become downtrend, but in weekly and monthly it's still clearly an uptrend.

This week finally marked the end of wave 2 or B (this wave turns out to be an ascending wedge), and wave 3 or C downwards is already in progress. If it's a wave 3, it'll still be quite far from finish (assuming it'll be 1.618 of wave 1 length, it'll target 1.9147). But if it's a wave C, the wave will tend to finish faster (assuming it'll be same length as wave A, it'll target 1.9369). G7 meeting is on fire this weekend, hope next week will be interesting. Just my opinion.

PS The FE (fibo extension) in the chart is based on length of wave A or 1 (1.9915 to 1.9556).
Attached Image
Tra-X
  • #5,903
  • Feb 9, 2007 8:55pm Feb 9, 2007 8:55pm
So true Traex, yes it depends on the timeframe. I think it depends on how zoomed in/out people's charts are too. For example my daily chart is zoomed out and clearly shows a nice bull channel, but others may be zoomed in and thinking sideways or possibly bearish. Whatever works I guess.
  • #5,904
  • Feb 9, 2007 10:45pm Feb 9, 2007 10:45pm
1.9480 was great support. Huh, I wouldn't call a spike down bottom, great support. And why is 1.9430 the next support???

I'd say todays low 1.9454 down to Jan 5th low 1.9260 is a wide support zone and I would think right now that bottom end of this range is where we are headed next week somewhere around weekly S1 1.9361 S2 1.9285.
  • #5,905
  • Feb 9, 2007 11:50pm Feb 9, 2007 11:50pm
GUYS!!!!!!!!!!!!!! RED ALERT!!!!!!!!!!!!!!!!

GBP/USD NOW @ 1.9857 bid

HIGH was at 1.9920!!!!

Anyone still on shorts without SL will get it this time.

I guess someone from BOE said about hiking rates.

Pls check fxstreet.com for Live Currency Rates.

And you will get a shock of your life!!!

Luckily Im out out g/u since Thrusday.

Pls confrim my news. Thanks.
  • #5,906
  • Feb 10, 2007 12:09am Feb 10, 2007 12:09am
Interesting henry, maybe it wasn't a mistake. Someone start a thread called "what happened to eur/gbp". Oh well Im bullish.
  • #5,907
  • Feb 10, 2007 12:14am Feb 10, 2007 12:14am
Quoting bodge
Interesting henry, maybe it wasn't a mistake. Someone start a thread called "what happened to eur/gbp". Oh well Im bullish.
What happened to e/g?
  • #5,908
  • Feb 10, 2007 12:18am Feb 10, 2007 12:18am
WOW, if it's not not a mistake that certainly would be a shock for a lot of people. Unfortunately I can't log into my Oanda acc now for some reason to confirm it but I'll check later.
  • #5,909
  • Feb 10, 2007 12:20am Feb 10, 2007 12:20am
Someone watched it drop 100+ pips on oanda, it explains why fxstreet has a big spike on gbp/usd. Hey click on the cable chart on www.fxstreet.com, notice it doesn't have the big spike? Maybe its a error.
  • #5,910
  • Feb 10, 2007 12:21am Feb 10, 2007 12:21am
Quoting bodge
Someone watched it drop 100+ pips on oanda, it explains why fxstreet has a big spike on gbp/usd. Hey click on the cable chart on www.fxstreet.com, notice it doesn't have the big spike? Maybe its a error.
I guess someone from BOE really said about hiking rates or they suddenly raise rates during G7!!!

I checked with yahoo finance and it confrims the rates

http://finance.yahoo.com/currency
  • #5,911
  • Feb 10, 2007 12:31am Feb 10, 2007 12:31am
oh my god..........gbp/jpy already above 241 !!!!!!!

something is definitely happening to GBP
  • #5,912
  • Feb 10, 2007 12:38am Feb 10, 2007 12:38am
where are you seeing this?
  • #5,913
  • Feb 10, 2007 12:40am Feb 10, 2007 12:40am
Quoting henrycarol
oh my god..........gbp/jpy already above 241 !!!!!!!

something is definitely happening to GBP
That's makes sence because cable usualy follows GBP/JPY. But I can't see any news whatsoever. Maybe G7 won't discuss yen wickness and that caused the big drop in yen.
  • #5,914
  • Feb 10, 2007 12:40am Feb 10, 2007 12:40am
Currency Converter - Yahoo! Finance

EUR/GBP = 0.6551

GBP/JPY = 241.94

However bloomberg TV still using the old rates. So this might be true or not true.
So far only two sources confrims this rates, fxstreet and yahoo finance


Good luck to those with g/u shorts without SL, I just pray for you guys.
If really 1.9857, I guess 2.0 will be soon next week.
  • #5,915
  • Feb 10, 2007 12:59am Feb 10, 2007 12:59am
Look at this chart

http://finance.yahoo.com/q/bc?s=GBPUSD=X&t=1d

Scary.
  • #5,916
  • Feb 10, 2007 3:02am Feb 10, 2007 3:02am
Quoting henrycarol
Currency Converter - Yahoo! Finance

EUR/GBP = 0.6551

GBP/JPY = 241.94

However bloomberg TV still using the old rates. So this might be true or not true.
So far only two sources confrims this rates, fxstreet and yahoo finance


Good luck to those with g/u shorts without SL, I just pray for you guys.
If really 1.9857, I guess 2.0 will be soon next week.
I don't know about other broker, but mine's SL policy on weekend is trigger it at open price on Sunday open. That means, bad anyway.

But is this real? Fxstreet.com is showing the spike on the homepage, but not in the live feed (that may be closed on Friday, don't klnow)...

I want to see my chart at open tomorrow.. That will be some gap.
  • #5,917
  • Feb 10, 2007 4:50am Feb 10, 2007 4:50am
I just can't seem to understand what might cause such spike.. about 400 pips.. made a new high too.. (my friends who uses esignal service told me about it..)
  • #5,918
  • Feb 10, 2007 5:00am Feb 10, 2007 5:00am
Quoting chrome76
I just can't seem to understand what might cause such spike.. about 400 pips.. made a new high too.. (my friends who uses esignal service told me about it..)
We have to see it at market open tomorrow. I still think this is some kind of mistake.

The problem is that the mistake seems to be generalized, not a single source mistake like Oanda made a few days ago and (I think) they reviewed the orders...

On my side, I'm already working on a strategy to trade on Monday, on the 9490 we have now... But if this spike appears here, strategy's as good as dead.

You guys still thinking this might be, somehow, true?
  • #5,919
  • Feb 10, 2007 5:11am Feb 10, 2007 5:11am
BBC also has cable at 1.98440.
  • #5,920
  • Feb 10, 2007 5:11am Feb 10, 2007 5:11am
FXStreet and a number of others use rates provided by netdania's chart station - www.netdania.com - i have used net dania for a long time for Gold and Silver charts - They have a history of giving incorrect spikes which obviously is showing on all their subscribing brokers as well.

Dont worry guys - there is NO spike.

Regards,
Girish
0 traders viewing now