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Cable Update (GBPUSD)

  • #6,581
  • Feb 22, 2007 4:02am Feb 22, 2007 4:02am
Quoting cesarnc
News came out good... Euro didn't seem to care....
Cause you sold too much......
  • #6,582
  • Feb 22, 2007 4:03am Feb 22, 2007 4:03am
Quoting cesarnc
News came out good... Euro didn't seem to care....
Good! If we can stay below 1.9520/21 I will be happy.
Show me the PIPS!
  • #6,583
  • Feb 22, 2007 4:06am Feb 22, 2007 4:06am
Focus comment - [ANOTHER DAY BUT NOT ANOTHER DOLLAR]. Rather fx players are content to follow the two well worn trends that have been dominating flows for over a year. Namely a partial focus on the long term Usd downtrend, and an overwhelming desire for higher returns that has generated such massive interest in the carry trade

F'n Thursday so far.
  • #6,584
  • Feb 22, 2007 4:10am Feb 22, 2007 4:10am
Not I for sure but if I had to look into the future I see the US market retesting the 1.9460 area then taking it back up (and beyond?) the daily pivot.............. just a wild guess based on ZERO techs..... just this weeks moves so far. Now if the US has a significant decline in unemployment claims.......... that's another story.
Show me the PIPS!
  • #6,585
  • Feb 22, 2007 4:11am Feb 22, 2007 4:11am
Quoting cesarnc
Focus comment - [ANOTHER DAY BUT NOT ANOTHER DOLLAR]. Rather fx players are content to follow the two well worn trends that have been dominating flows for over a year. Namely a partial focus on the long term Usd downtrend, and an overwhelming desire for higher returns that has generated such massive interest in the carry trade

F'n Thursday so far.
I would be content to follow anything! This damn pair tied a knot in my brains! Have you seen how twisted is the daily chart for the last two weeks?
  • #6,586
  • Feb 22, 2007 4:11am Feb 22, 2007 4:11am
The head and shoulders is now going to make its way down to 9420, after the retest of the neckline.

Question of the day IS "Who's Short?"

The second downleg "should be stronger than the first"
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  • #6,587
  • Feb 22, 2007 4:13am Feb 22, 2007 4:13am
[EUR/USD] is lower despite the strengh revealed in EU industrial orders data, (2.8% m.m in Dec vs +0.2% f/c). The weaker tone is also contra to flow reports which have flagged a variety of decent range biased buyers into 1.3080. Asian, Russian ansd a semi offical European account are all noted bids . However, with the short term end of the market holding long Eur/Usd positons overall, a further decline is looking likely with more sell triggers seen at regular intervals through 1.3070-40, ((large size seen 1.3060).

We're in Euro's hands now. Good luck for us holding shorts (pants, hair, saints)
  • #6,588
  • Feb 22, 2007 4:16am Feb 22, 2007 4:16am
Quoting Lojkine
I would be content to follow anything! This damn pair tied a knot in my brains! Have you seen how twisted is the daily chart for the last two weeks?
Daily chart is a complete mess... The clue is trying to catch the intraday direction and get out at the first sign of crazyness.

I'm still waiting for the second sign today...
  • #6,589
  • Feb 22, 2007 4:17am Feb 22, 2007 4:17am
Quoting lbeezi
The head and shoulders is now going to make its way down to 9420, after the retest of the neckline.

Question of the day IS "Who's Short?"

The second downleg "should be stronger than the first"
Nice charts, Ibeezi. Thanks
  • #6,590
  • Feb 22, 2007 4:22am Feb 22, 2007 4:22am
Quoting cesarnc
Daily chart is a complete mess... The clue is trying to catch the intraday direction and get out at the first sign of crazyness.

I'm still waiting for the second sign today...
Even the intraday is messy... I cannot guess the direction when it falls 60 pips and goes up another 50 in just 2 1H bars
  • #6,591
  • Feb 22, 2007 4:27am Feb 22, 2007 4:27am
Quoting Lojkine
Even the intraday is messy... I cannot guess the direction when it falls 60 pips and goes up another 50 in just 2 1H bars
Yup.

As I said previously, Cable is being way too much sensitive to announcements. I didn't care about today's news (actually I forgot about it today) and yet, the market spiked up 15 min before it!

We're having a forecasted USD-negative news later on, appearing to be not a mover in the FF's calendar... But who knows?

I'll be ok with B/E or small profit today. It's been creepy enough to me as to gamble the US session...
  • #6,592
  • Feb 22, 2007 4:28am Feb 22, 2007 4:28am
Quoting cesarnc
I'll be ok with B/E or small profit today.
Now looking for possible double bottom at 9460. If stalls at 9480, I'm out at B/E.

F#$@#% Cable today
  • #6,593
  • Feb 22, 2007 4:29am Feb 22, 2007 4:29am
Hey Guys ,

Its looking quite text book from here

The Bears need the Nice last rejection on the 1 hr., nice bearish hammer, to get followed up by some action south of 9500, and everything should be alright, I only have a partial position left as i entered at the top of the rt. shoulder and dumped 1/2 at the neck and 1/4 at the 127% ext.

this next phase could take a minute but hey we're all playing the waiting game at this point!

The techs are setting up great this is a text book h/s
  • #6,594
  • Feb 22, 2007 4:34am Feb 22, 2007 4:34am
Quoting lbeezi
Hey Guys ,

Its looking quite text book from here

The Bears need the Nice last rejection on the 1 hr., nice bearish hammer, to get followed up by some action south of 9500, and everything should be alright, I only have a partial position left as i entered at the top of the rt. shoulder and dumped 1/2 at the neck and 1/4 at the 127% ext.

this next phase could take a minute but hey we're all playing the waiting game at this point!

The techs are setting up great this is a text book h/s


Thanks again... You're throwing some light here. My eyes are blurred already
  • #6,595
  • Feb 22, 2007 4:51am Feb 22, 2007 4:51am
From the Frankfurt Open, the Europeans took cable down and after the London Open, the Brits only managed a further 12 pips down in 35 minutes to bounce off the 78.6% support of this weeks range.
This bounce has stalled at the 78.6% retrace of this mornings fall.....mm the next 78.6 level would be at 9473, but cableŽs uncoupled from the Euro and Swiss and seems very reluctant to drop.
However, with the contracting daily ranges and the huge wedge / triangle on the higher time frames there is a great breakout building up and my shorter term EW analysis is meaningless in all this chop.
IŽll just play the reaction game off 1m and 5m charts and hope to catch the big move when it comes.
Trading Levels with WRBs
  • #6,596
  • Feb 22, 2007 4:59am Feb 22, 2007 4:59am
I also feel there is a breakout brewing. I dont trade with TA, but mostly with fundementals and my opinion is that the $ reports have been negative mostly while the pound reports are positive this week. The pound did go down last week because of negative reports. Traders are trying to force the pound down this week but have been unsucsesfull. I am waiting for the 1 small $negative report to send the pound higher. Just my opinion.
  • #6,597
  • Feb 22, 2007 5:04am Feb 22, 2007 5:04am
I'm out... Just ate my y'day profit.... Freaking hourly pointing north now...

Don't have nervers for this shit.... The trade today was short at Fra open and profit at London bottom and back to bed....
  • #6,598
  • Feb 22, 2007 5:10am Feb 22, 2007 5:10am
9511 is fibo 61.8% acting as resistance now.. It will come back down, maybe retest the lower trendline
Trade what you see, not what you think.
  • #6,599
  • Feb 22, 2007 5:13am Feb 22, 2007 5:13am
Quoting Kanon
I also feel there is a breakout brewing. I dont trade with TA, but mostly with fundementals and my opinion is that the $ reports have been negative mostly while the pound reports are positive this week. The pound did go down last week because of negative reports. Traders are trying to force the pound down this week but have been unsucsesfull. I am waiting for the 1 small $negative report to send the pound higher. Just my opinion.
yesterday core CPI was 0.3% V 0.2E... THAT'S NOT BAD FOR USD
  • #6,600
  • Feb 22, 2007 5:14am Feb 22, 2007 5:14am
I still short
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