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Daily Cable Analysis

  • #6,321
  • Feb 16, 2007 8:25am Feb 16, 2007 8:25am
Quoting mike w
pipseeker, why do you feel that its going to go up? id like to hear a different perspective on this. thanks.
Other deciding factor IMHO is that the news from US is negative and I feel it may be priced into the market today.
  • #6,322
  • Feb 16, 2007 8:30am Feb 16, 2007 8:30am
Quoting pipSeeker
Expect the market to close with a decent up move - maybe beyond 9550... going Long at 9476
Hey we r going in same bout hahahah........actually I was expecting the market it before US opening but U r were right US will be negative than alone My Wave 4 will complete & after that market will be bearish..............wat u say dude


Shivaji
"Trade for sake of trading & not for winning or Lossing"
  • #6,323
  • Feb 16, 2007 8:30am Feb 16, 2007 8:30am
nice hunch pipseeker, its gone down to hit a low of 9462 twice now. on another retrace i may go in on that move also. good luck with your trade. on the 30 minute chart a pin bar just formed by the way, further making me want to initialize this trade.
I dream, therefore I become.
  • #6,324
  • Feb 16, 2007 8:37am Feb 16, 2007 8:37am
Quoting mike w
nice hunch pipseeker, its gone down to hit a low of 9462 twice now. on another retrace i may go in on that move also. good luck with your trade. on the 30 minute chart a pin bar just formed by the way, further making me want to initialize this trade.

hey bulls are charging dude,therefore it looks bear taking advantage
"Trade for sake of trading & not for winning or Lossing"
  • #6,325
  • Feb 16, 2007 8:40am Feb 16, 2007 8:40am
Quoting pipSeeker
Expect the market to close with a decent up move - maybe beyond 9550... going Long at 9476
That's what's called Friday afternoon short covering rally. It's common sence - whoever was short and is in profit will most likely close his/her position prior the long weekend, hence bringing the price up from the current levels.

p.s. Don't forget Monday is a holiday in US.
  • #6,326
  • Feb 16, 2007 8:41am Feb 16, 2007 8:41am
Quoting pipSeeker
Other deciding factor IMHO is that the news from US is negative and I feel it may be priced into the market today.
I am convinced of that otherwise we would have gone higher from 9515 area. I think we will close somewhere between 9490 and 9510 for the day ie top of the range from 8.15 today.
  • #6,327
  • Feb 16, 2007 8:45am Feb 16, 2007 8:45am
im with musicman on that one. Unless 9510 is breached, then i dont think well be seeing 9550 today. If it is then 9550 is clearly the next shot however.
I dream, therefore I become.
  • #6,328
  • Feb 16, 2007 8:48am Feb 16, 2007 8:48am
Ok, so if Monday is a Holiday, how's the trading going to be? Flat?
All hard work brings a profit, but mere talk leads only to poverty.
  • #6,329
  • Feb 16, 2007 8:48am Feb 16, 2007 8:48am
looking on though, if it does close at around 9510, then that will be a pin bar on the daily. So in other words, bears are losing steam.
I dream, therefore I become.
  • #6,330
  • Feb 16, 2007 9:03am Feb 16, 2007 9:03am
Consumer Sentiment Is Down You Can Feel Free To Go Up Now Gbp Instead Of Downnnnnnn
If you can't produce some results and make some serious PIPS, YOU'RE FIRED!
  • #6,331
  • Feb 16, 2007 9:04am Feb 16, 2007 9:04am
it doesnt seem like it really wants to though...damn. cant cut a break today haha
I dream, therefore I become.
  • #6,332
  • Feb 16, 2007 9:08am Feb 16, 2007 9:08am
is it o.k to go long on GBP/USD now? At what will you all decide to go long?
Appreciate your wisdom and insight
Banda
BANDA333
  • #6,333
  • Feb 16, 2007 9:09am Feb 16, 2007 9:09am
Actually were right in the middle of a News range, and there is no clear signal for either Long or Short in my mind.

News
High 1.9516
Low 1.9462
Median 1.9489

I need to see a break above 1.9497/1.9500 for a Scalp Long, and above 1.9516 prior to Long term Long.

As of now 1.9494 is resistance from the News Retrace on the One Minute Chart.
TheCableGuy
  • #6,334
  • Feb 16, 2007 9:13am Feb 16, 2007 9:13am
Quoting BANDA
is it o.k to go long on GBP/USD now? At what will you all decide to go long?
Appreciate your wisdom and insight
Banda
Banda, we are sharing only our opinions and acting on it by ourselves... and the market can be quite volatile right now... so, pl. take our opinions as that and not as trade recommendations for yourself. Speaking in your interest only. Thanks.
  • #6,335
  • Feb 16, 2007 9:15am Feb 16, 2007 9:15am
Quoting Qwiktrader
Consumer Sentiment Is Down You Can Feel Free To Go Up Now Gbp Instead Of Downnnnnnn
Hey market is too much bearish even though US data r negative but bulls r not taking control the market .................bulls go ahead wat r u waiting for
"Trade for sake of trading & not for winning or Lossing"
  • #6,336
  • Feb 16, 2007 9:16am Feb 16, 2007 9:16am
Quoting BANDA
is it o.k to go long on GBP/USD now? At what will you all decide to go long?
Appreciate your wisdom and insight
Banda
After much consideration and technical analysis I believe that it is absolutely the right time to go Long...., sorry, Short...erm...Long, no no, definitely short, on the other hand....
  • #6,337
  • Feb 16, 2007 9:16am Feb 16, 2007 9:16am
Quoting Sami7
Ok, so if Monday is a Holiday, how's the trading going to be? Flat?
Don't get me wrong - the market will be open but expect light volume on Monday throughout the day. Think of it that way - without US participating there might be some 'crazy' movements during the Asiain and European sessions and if you have a profit from yesterday/today would you take it or leave it on the table ?

  • #6,338
  • Feb 16, 2007 9:17am Feb 16, 2007 9:17am
Quoting TheCableGuy
Actually were right in the middle of a News range, and there is no clear signal for either Long or Short in my mind.

News
High 1.9516
Low 1.9462
Median 1.9489

I need to see a break above 1.9497/1.9500 for a Scalp Long, and above 1.9516 prior to Long term Long.

As of now 1.9494 is resistance from the News Retrace on the One Minute Chart.

Yes man i agree with U,1.9500 will be better for going long right now....
"Trade for sake of trading & not for winning or Lossing"
  • #6,339
  • Feb 16, 2007 9:19am Feb 16, 2007 9:19am
The price was at 1.9485 at news time 8:30 am EST.

This should act as a support if there is a Long in the works.

One other News Support for the day would be at 1.9468 area, which has held twice so far since news.
TheCableGuy
  • #6,340
  • Feb 16, 2007 9:20am Feb 16, 2007 9:20am
..............unaffected by negative news as well. Local business television program more or less saying lousy housing numbers due to the cold weather so you can not read much into that. Consumer sentiment still considered "high" at 93%. PPI as expected so no big deal.......So for forex? Caught in a range. yay! We may have a break later but with the long weekend ahead who knows?
Show me the PIPS!
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