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Cable Update (GBPUSD)

  • #6,741
  • Feb 22, 2007 10:51am Feb 22, 2007 10:51am
if we can close around 1.9535 we will have a perfect pin on the daily chart
  • #6,742
  • Feb 22, 2007 10:52am Feb 22, 2007 10:52am
Quoting goonergonebad
Please can you explain Pinocchio?
Hi,
Ive got some materials on pin bars and how to trade them. Let me know if youre interested so I can post it here for you.
  • #6,743
  • Feb 22, 2007 10:55am Feb 22, 2007 10:55am
Quoting theroller
Broader Look



USD Index is currently hovering around 84.5, which is key. Actually, the direction for the USD is set for the upcoming days. USD is being sold for the last 4-5 years, continuously. There has been some consolidation buy-backs in the mean time, such as late 2004 to late 2005, where EUR/USD plunged from 1.36 to 1.16. Broader picture is, USD is sold.


USD is up for another decision time, whether a consolidation will occur, taking EUR/USD down to 1.20s, Gold to 610/630s, Oil down to 40s, etc, or another wave of USD selloff. Looking at all these markets, expectations, USD is on the verge of another decline. USD simply doesn't have any backups currently (Shocker TIC, intermittent "expected" rate hikes vs EU & BoE's rapid hikes, interest in commodities and agriculture), and alot of gangs are lined up right outside the door. USD Index is set to go BELOW the former lows, around 82, Gold set to surge to 730+, Oil to 60+.
Nice post.
  • #6,744
  • Feb 22, 2007 10:55am Feb 22, 2007 10:55am
[REPORTS ON TERROR ALERT - APPARENTLY NOT TRUE] There are two rumors going around, one that the US terror alert level is about to be raised, the other that there is an unusually high level of police activity in Lower Manhattan. We have second hand reports that both the Department of Homeland Security and the NYPD are reporting no change in status and nothing unusual.

Homeland and NYPD long Cable?
  • #6,745
  • Feb 22, 2007 10:59am Feb 22, 2007 10:59am
Quoting cesarnc
[REPORTS ON TERROR ALERT - APPARENTLY NOT TRUE] There are two rumors going around, one that the US terror alert level is about to be raised, the other that there is an unusually high level of police activity in Lower Manhattan. We have second hand reports that both the Department of Homeland Security and the NYPD are reporting no change in status and nothing unusual.

Homeland and NYPD long Cable?
BTW, Fox news showing Nicole Smith related trial (or something like that). So it is probably nothing around NYC...

It was just cocaine....
  • #6,746
  • Feb 22, 2007 11:00am Feb 22, 2007 11:00am
Quoting zawodowiec
Hi,
Ive got some materials on pin bars and how to trade them. Let me know if youre interested so I can post it here for you.
Thx.
  • #6,747
  • Feb 22, 2007 11:03am Feb 22, 2007 11:03am

Quoting zawodowiec
Hi,

Quoting zawodowiec
Ive got some materials on pin bars and how to trade them. Let me know if youre interested so I can post it here for you.


i need that...post it will ya...
"Analysis Is Hard But Trade Is Easy"
  • #6,748
  • Feb 22, 2007 11:04am Feb 22, 2007 11:04am
I am working in New york now, we didnt hear any terror alert level being raised.

I will update your if i hear anything on that front.


Quoting cesarnc
[REPORTS ON TERROR ALERT - APPARENTLY NOT TRUE] There are two rumors going around, one that the US terror alert level is about to be raised, the other that there is an unusually high level of police activity in Lower Manhattan. We have second hand reports that both the Department of Homeland Security and the NYPD are reporting no change in status and nothing unusual.

Homeland and NYPD long Cable?
  • #6,749
  • Feb 22, 2007 11:06am Feb 22, 2007 11:06am

Quoting cesarnc
[REPORTS ON TERROR ALERT - APPARENTLY NOT TRUE] There are two rumors going around, one that the US terror alert level is about to be raised, the other that there is an unusually high level of police activity in Lower Manhattan. We have second hand reports that both the Department of Homeland Security and the NYPD are reporting no change in status and nothing unusual.

Quoting cesarnc

Homeland and NYPD long Cable?


trendline being challenge 4 times this month but not a single candle close below it....i saw its a good deal to put long position...speaking of daily candle
"Analysis Is Hard But Trade Is Easy"
  • #6,750
  • Feb 22, 2007 11:09am Feb 22, 2007 11:09am
Quoting newjersey24
I am working in New york now, we didnt hear any terror alert level being raised.

I will update your if i hear anything on that front.
As the reports says, it was a rumor... But a 100 pips boost like that because of oil inventory? I doubt it...

Must have been this rumor helping those profit thirsty to flush many people out of the market for the week.
  • #6,751
  • Feb 22, 2007 11:09am Feb 22, 2007 11:09am
Quoting zawodowiec
Hi,
Ive got some materials on pin bars and how to trade them. Let me know if youre interested so I can post it here for you.

Yes please
  • #6,752
  • Feb 22, 2007 11:13am Feb 22, 2007 11:13am
It must be because that was a lot of activity for the 100 pip jump.
I did however read new (30min ago) about Iran failing to meet Nuke deadline and Talks about US may go to war with them might made the spike.


Quoting cesarnc
As the reports says, it was a rumor... But a 100 pips boost like that because of oil inventory? I doubt it...

Must have been this rumor helping those profit thirsty to flush many people out of the market for the week.
  • #6,753
  • Feb 22, 2007 11:16am Feb 22, 2007 11:16am
I hope this is not temporary. I think we'll excited if this movement will continue on Friday, at least this is the trigger that we all looking for.
  • #6,754
  • Feb 22, 2007 11:19am Feb 22, 2007 11:19am
Finally, we're getting closer to a possible breakout

Pin Bars for the win. Actually 3 within each other, today making the right eye for one that was the right eye for an even earlier one

It hid well though on 15M, but respected the usual .618 - .786 retrace rule.

And no, I didn't take this one, I was short and scared at the time
Only took 1.9510-1.9550 later, but I'm still long GJ from 234 from before the BOJ, so I can cope with the missed chance
Attached Image
Trust price. Know yourself.
  • #6,755
  • Feb 22, 2007 11:19am Feb 22, 2007 11:19am
wow 1.9597
Pipology 101 student
  • #6,756
  • Feb 22, 2007 11:20am Feb 22, 2007 11:20am
Quoting blucky
I hope this is not temporary. I think we'll excited if this movement will continue on Friday, at least this is the trigger that we all looking for.
Yup... the move I was expecting this morning, when Freakfurt (not a typo) screwed it up...

Now how to figure to top of it?
  • #6,757
  • Feb 22, 2007 11:23am Feb 22, 2007 11:23am
Quoting cesarnc
[REPORTS ON TERROR ALERT - APPARENTLY NOT TRUE] There are two rumors going around, one that the US terror alert level is about to be raised, the other that there is an unusually high level of police activity in Lower Manhattan. We have second hand reports that both the Department of Homeland Security and the NYPD are reporting no change in status and nothing unusual.

Homeland and NYPD long Cable?
People will *ALWAYS* look around, try to find an "explanation" to what caused recent moves in financial markets. However, the reality is that most of the time, the upcoming movements will "signal" themselves WAAAAY before the move happens. And, when the time comes and the move takes the stage, most people will try to realise whats going on. At the time they find an "explanation" and a "reason", it would all be OVER.

Yes, of course politics and unexpected news (such as terrorism) move markets. But the fact doesn't strike in a sec. There is a development stage to it.
  • #6,758
  • Feb 22, 2007 11:23am Feb 22, 2007 11:23am
whats up with euro going down and gbp up? News there?
  • #6,759
  • Feb 22, 2007 11:24am Feb 22, 2007 11:24am
Reaction to the NY police activity/terror threat level has been most marked in [USD/CHF], which has dropped through 1.24 amid a sharp setback for Eur/Chf. The latter has been weighed by 1.6300 barrier defense, though had appeared to lose its safe haven status quite considerably over the past few years. That said, the Iranian situation hotting up amid the other talk may have prompted some Chf buying. Bids are expected around 1.6260 and then 1.6230 in the cross, while Swiss and US names are said to have bids in the pair at 1.2350. While the Usd tone may have been knocked slightly by the worsening Iran situation (note the Usd-negative reaction to news the US has contingency plans in place to attack Iranian installations earlier in the week), Treasury yields remain unchanged around recent highs suggesting a bid into the Usd's dip will reward.
  • #6,760
  • Feb 22, 2007 11:24am Feb 22, 2007 11:24am
I wish somebody would figure the top soon... im still short aarrghh..
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