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Cable Update (GBPUSD)

  • #79,701
  • Aug 4, 2008 4:12pm Aug 4, 2008 4:12pm
05-08-2008
tomorrow is a new day, with important news... lets see what will happen.
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  • #79,702
  • Aug 4, 2008 4:13pm Aug 4, 2008 4:13pm
Quoting SpiderSystem
of course maybe some retracement to 1.9650/97 (or not), I spoke to those people that have longs @1.9727, etc forex is for long term, no scalping, and intraday is hard too.
taking up to 9750, or 98, we would still stay in down channel, thats quite nice places to short again - all the way to 94, and then maybe later to 1900..
but 19930, bit too much, unless cable is going to brake up this channel
  • #79,703
  • Aug 4, 2008 4:33pm Aug 4, 2008 4:33pm
Heres my weekly,I really can not see 9746 being taken this week ,anyway early days..

Whtever happens for upside potential a floor needs to be created on the 4 hr at 9600 IMO.

P.S I keep meaning to thank you Gurps for your e mails,so thanks buddy.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #79,704
  • Aug 4, 2008 4:49pm Aug 4, 2008 4:49pm
Quoting SpiderSystem
of course maybe some retracement to 1.9650/97 (or not), I spoke to those people that have longs @1.9727, etc forex is for long term, no scalping, and intraday is hard too.
Depends on the feds tone. If they give a strong impression that rate hikes will not happen till next year, even if its Q1, dollar will sell off hard across the board. Its very very overbought at the moment with fed rate hikes priced in.

AS far as cables concerned this will send it to the top of the price channel and possibly test the monthly pivot sometime this week.

On the other hand, if they give indications that a rate hike could be a serious possibility for this year, then we may see more bullish dollar action. However this is whats currently driving the dollar strength and its likely to be heavily priced in already.

My view is we will see a dollar sell off this week.
USD Est Non Mortuus
  • #79,705
  • Aug 4, 2008 5:51pm Aug 4, 2008 5:51pm
this would be the time to buy cable for some pips in the next days. hypothetical entry @ 1.9617. let's see how much hypothetical profit I'd make in a little while.
  • #79,706
  • Aug 4, 2008 5:53pm Aug 4, 2008 5:53pm
The trade Ive been stalking for 2 weeks is here.

Signal fired, loaded more longs at 9621. Risk for all orders set below 9299. Holding these positions. Minimal margin risk.

Target 9800 area or monthly pivot if it looks like something it will test this week.
USD Est Non Mortuus
  • #79,707
  • Aug 4, 2008 6:45pm Aug 4, 2008 6:45pm
Quoting AmeriTrini
Going to 1.9600??
Bouncing at 1.9600??

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  • #79,708
  • Aug 4, 2008 6:50pm Aug 4, 2008 6:50pm
Quoting AmeriTrini
Bouncing at 1.9600??

Amen
  • #79,709
  • Aug 4, 2008 6:50pm Aug 4, 2008 6:50pm
where do you think it will be going tommorrow?
  • #79,710
  • Aug 4, 2008 7:03pm Aug 4, 2008 7:03pm
Quoting AmeriTrini
Bouncing at 1.9600??

Could go lower, big time lower.
  • #79,711
  • Aug 4, 2008 7:05pm Aug 4, 2008 7:05pm
Quoting LuckyLurker
Depends on the feds tone. If they give a strong impression that rate hikes will not happen till next year, even if its Q1, dollar will sell off hard across the board. Its very very overbought at the moment with fed rate hikes priced in.

AS far as cables concerned this will send it to the top of the price channel and possibly test the monthly pivot sometime this week.

On the other hand, if they give indications that a rate hike could be a serious possibility for this year, then we may see more bullish dollar action. However this is whats currently driving the dollar strength and its likely to be heavily priced in already.

My view is we will see a dollar sell off this week.
It is not as much as the priced-in strength of the dollar as the dawning realization of the weakness of the pound due to the deterioriation of the UK fundamentals. There have been days when the euro held its ground and even appreciated against the dollar while the pound continued its relentless drive south. Been shorting and will short every opportunity as long as RR is at least 1:1.
  • #79,712
  • Aug 4, 2008 7:19pm Aug 4, 2008 7:19pm
Quoting Carrera
Could go lower, big time lower.
Not before it bounces, I think.............
  • #79,713
  • Aug 4, 2008 8:22pm Aug 4, 2008 8:22pm
A nice bounce will only give us more shorting opportunities .
  • #79,714
  • Aug 4, 2008 8:53pm Aug 4, 2008 8:53pm
Quoting tacamonchi
It is not as much as the priced-in strength of the dollar as the dawning realization of the weakness of the pound due to the deterioriation of the UK fundamentals. There have been days when the euro held its ground and even appreciated against the dollar while the pound continued its relentless drive south. Been shorting and will short every opportunity as long as RR is at least 1:1.
My point was about tomorrow. Feds tone owns tomorrow, we are not talking long term strat here.. just this week. Dollar could correct or it could stay bull.. that's all. Feds statement is whats on deck right now to drive it.
USD Est Non Mortuus
  • #79,715
  • Aug 4, 2008 8:55pm Aug 4, 2008 8:55pm
Quoting Carrera
Could go lower, big time lower.
Yea it really could.. longs here need mega margin or stops.. I feel dollar sells of a bit before we go lower though.. I see your point and agree.
USD Est Non Mortuus
  • #79,716
  • Aug 4, 2008 9:02pm Aug 4, 2008 9:02pm
shorted at 1.96 - looking to test 1.95...you guys like this idea?
  • #79,717
  • Aug 4, 2008 9:06pm Aug 4, 2008 9:06pm
added new long 1.9590. hope it will reach at least 1.9700
i'm with u Lucky Lurker
  • #79,718
  • Aug 4, 2008 9:15pm Aug 4, 2008 9:15pm
9500 is very possible...

I will add longs there..... if it gets there....
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Patience + Discipline - Greed = Success
  • #79,719
  • Aug 4, 2008 10:01pm Aug 4, 2008 10:01pm
Currently long at 1.9595 and will add more if the price is right!

This is in addition to the longs at 1.9606!
Just digging in the trenches like everyone else!
  • #79,720
  • Aug 4, 2008 10:42pm Aug 4, 2008 10:42pm
Is getting close to complet CD leg.

Now a good confirmation for long is my trigger.

Also could go lower, but lets see.


For earlier analisys clik here #79634
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