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Cable Update (GBPUSD)

  • #5,761
  • Feb 12, 2007 10:28am Feb 12, 2007 10:28am
Quoting goonergonebad
Thanks Cesarnc
"Thanks"? Are you crazy? You owe me 10 pips !!!

Just kidding. I'm just trying to learn and help here...
  • #5,762
  • Feb 12, 2007 10:34am Feb 12, 2007 10:34am
Even though my EMAs are fanned out to the long side, current trading activity seems to suggest a short trade is imminent - possibly start of my anticipated significant drop for cable.
  • #5,763
  • Feb 12, 2007 10:40am Feb 12, 2007 10:40am
You're welcome, goonergonebad.

Oh well, I thought last Friday was a dull NY session. Today is much WORSE than that! Current support for cable: 1.9444, after bouncing from 1.9555 resistance today. 1.9333 support is waiting down there (plus cable daily EMA 100 at ~1.9330), maybe it'll reach there tomorrow or wed.
Tra-X
  • #5,764
  • Feb 12, 2007 10:49am Feb 12, 2007 10:49am
Quoting goonergonebad
Even though my EMAs are fanned out to the long side, current trading activity seems to suggest a short trade is imminent - possibly start of my anticipated significant drop for cable.
Trading activity currently bouncing off my ema's 9, 20 and 50 (5 min chart). They are now effectively merging together with the 9 and 20 hopefully about to drop below the 50 line.

However, still a lot of support at about 1.9470 and no significant trading US side.

Wait and see, I suppose...
  • #5,765
  • Feb 12, 2007 10:59am Feb 12, 2007 10:59am
This thing just doesn't want to move up - I'm holding strong though - waiting to profit @9550 and willing to short only @ 9583 - 50% level of this swing.

Also, this level will be consistent with strong negative reversal setup as well.
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Man who scratches ass should not bite fingernails
  • #5,766
  • Feb 12, 2007 11:01am Feb 12, 2007 11:01am
Quoting Traex
You're welcome, goonergonebad.

Oh well, I thought last Friday was a dull NY session.
That's why I wake up at 4:30am local - (7:30am Frankfurt) here. Europe is providing the daily range lately. Being hostage of NYC to make a buck is just that: being a hostage.
  • #5,767
  • Feb 12, 2007 11:12am Feb 12, 2007 11:12am
Quoting goonergonebad
Trading activity currently bouncing off my ema's 9, 20 and 50 (5 min chart). They are now effectively merging together with the 9 and 20 hopefully about to drop below the 50 line.

However, still a lot of support at about 1.9470 and no significant trading US side.

Wait and see, I suppose...
I know it's lunchtime in US, but only seems to be us private traders making any noises. The last 10 mins. has seen a concerted effort to break the 1.9480 resistance level, but still intact.

Should be interesting after they return from their pastrami on rye break..
  • #5,768
  • Feb 12, 2007 11:18am Feb 12, 2007 11:18am
Quoting goonergonebad
I know it's lunchtime in US, but only seems to be us private traders making any noises. The last 10 mins. has seen a concerted effort to break the 1.9480 resistance level, but still intact.

Should be interesting after they return from their pastrami on rye break..
I think they need to bring cocaine back to wall street, this shit is just driving me nuts.
Man who scratches ass should not bite fingernails
  • #5,769
  • Feb 12, 2007 11:19am Feb 12, 2007 11:19am
Quoting Leugimp
I think they need to bring cocaine back to wall street, this shit is just driving me nuts.
Well said..
  • #5,770
  • Feb 12, 2007 11:30am Feb 12, 2007 11:30am
Quoting Leugimp
I think they need to bring cocaine back to wall street, this shit is just driving me nuts.
Then we would find the missing Trader
  • #5,771
  • Feb 12, 2007 12:59pm Feb 12, 2007 12:59pm
Let's not forget that 82% of all forex traders reside outside the United States. There's only a handful in the States with nutsacks big enough to play the currency game.

I do like the coke idea. That's brilliant. That's just what those 'tards on Wall St. need.

Wednesday will be a different story... we'll see some U.S. action for sure.
  • #5,772
  • Feb 12, 2007 1:16pm Feb 12, 2007 1:16pm
Quoting Breton Wood
Let's not forget that 82% of all forex traders reside outside the United States. There's only a handful in the States with nutsacks big enough to play the currency game.

I do like the coke idea. That's brilliant. That's just what those 'tards on Wall St. need.

Wednesday will be a different story... we'll see some U.S. action for sure.
For the last 2 hours it has effectively traded within 11 pips...
However, I think we'll see some action before Wednesday....
  • #5,773
  • Feb 12, 2007 1:22pm Feb 12, 2007 1:22pm
We have a slew of economic reports coming out at the Frankfurt and London opens tomorrow. Then we have U.S. trade balance at 8:30.

Wednesday, Thursday, and Friday will be the most volatile days... U.S. core PPI on Friday.

Overall, I'm looking at a strong week for the U.S. dollar. I'm sure Bernanke will spew his b.s. about the American economy. And he may even hint at a rate hike. If he throws out that bait, look for a healthy drop in the GBP/USD and EUR/USD.
  • #5,774
  • Feb 12, 2007 2:21pm Feb 12, 2007 2:21pm
Quoting Breton Wood
We have a slew of economic reports coming out at the Frankfurt and London opens tomorrow. Then we have U.S. trade balance at 8:30.

Wednesday, Thursday, and Friday will be the most volatile days... U.S. core PPI on Friday.

Overall, I'm looking at a strong week for the U.S. dollar. I'm sure Bernanke will spew his b.s. about the American economy. And he may even hint at a rate hike. If he throws out that bait, look for a healthy drop in the GBP/USD and EUR/USD.
I hope you are right, this non activity is scary. Cable still unable to drop below 1.9466!
  • #5,775
  • Feb 12, 2007 2:29pm Feb 12, 2007 2:29pm
Anyone have any idea what to expect from the GBP Core CPI index that's due to be released in the early am tomorrow? Any rumors coming out of Europe?
If you can't produce some results and make some serious PIPS, YOU'RE FIRED!
  • #5,776
  • Feb 12, 2007 3:06pm Feb 12, 2007 3:06pm
Quoting goonergonebad
I hope you are right, this non activity is scary. Cable still unable to drop below 1.9466!

dont scare my friend , already GBP cross from 1.9466 for 3 time and will drop more ...
  • #5,777
  • Feb 12, 2007 4:29pm Feb 12, 2007 4:29pm
Quoting viking
dont scare my friend , already GBP cross from 1.9466 for 3 time and will drop more ...
Yeah. It is common to see price spending hours fighting a S or R and on the next day takes it out like if it never existed...

Hope Asia to bring it up to the 9500 area to build all the fuel it needs to fall like a rock tomorrow...

And hey, US-ers... Bad news: wake up really really early tomorrow... NYC will snore the fumes only.They haven't found the dealer yet.
  • #5,778
  • Feb 12, 2007 4:50pm Feb 12, 2007 4:50pm
  •  Trader#0000
  • | Status: Unregistered Trader
In my opinion GBP/USD will go below 1.9000 before the end of February 2007.
  • #5,779
  • Feb 12, 2007 4:58pm Feb 12, 2007 4:58pm
Quoting johnblake
In my opinion GBP/USD will go below 1.9000 before the end of February 2007.

i dont think on february but
in next month if UK change I.R to 5.00 then maybe we will met again 1.9000
  • #5,780
  • Feb 12, 2007 5:38pm Feb 12, 2007 5:38pm
Quoting johnblake
In my opinion GBP/USD will go below 1.9000 before the end of February 2007.
What factors are you basing this opinion on?
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