Cable Update (GBPUSD)

I've gone long right now with half of the position, and will go long with the rest at the .38 fib level if it's reached. Stop loss under the swing high of feb 23, at around 1.5985. Whats are your opinions so far?

Personally I would like to see a retrace before jumping in a LONG position. I do agree that the odds are stacked in the favor for a LONG to the 1.9700 level but I am hoping it will come down to 1.9605 first. It may even dip to 1.9590.Once that happens, I am LONG with a TP 1.9700!

we're all looking for a pullback to go long, kinda sends up a red flag?

so far there's been no pullback that is a sign of strength. a pullback here would be a sign of weekness

analyst sentiment bearish 0.00% hmm

It could be like last Friday when there was no pullback except for the brief spike down on an announcement. It may shoot right up with no major news tonight. I still hold the opinion that the market want to go up.

could be so, signs of strength so far

Geez Cesnarc, I thought it was your neighbor that insisted you come pick up your candlesticks from his living room and that slingshot fast ma rope from around his sons neck after that pop north!

Quick analysis of Friday's rise:

Market had priced in a 62% possibility that Cheney and McCain were going to bomb Iran's nuclear centrifuge facilities this weekend. (Actually they tried but Cheney's pacemaker messed up the electronics on the B2. 14 pilot whales reported dead in the Indian Ocean. When you miss with a B2 it is BAD!)

Quick analysis of Sunday open (lack of correction):

World money market reacts strongly to assasination of 14 pilot whales. World court reaction expected.

Blair has heartburn, Greenspan still has notions of granduer, and Trichet lost his thesauras leading to large confusion and fear to act. Blair's internal problems could cause unknown turmoil in the British Empire (the sun never sets). Greenspan could make any negative USD statement and meltdown the dollar. Trichet could rely on his own brain for the next word to mean exactly the same thing as the previous, screw up, and send the Euro back to francs, marcs, liras, etc.

Of course, the largest concern is the growing strength of a certain US presidential cantidate who could single handidly change the US military forces into one that is only effective certain days of the month. Rumor has it this presidential canditate not only did not provide certain marital requirements to said marital partner while this partner was leader of the most powerful country in the world (forcing said partner to seek such basics elsewhere), this canditate intends to encourage and empower all people of like thoughts to excercise the same refusal. This is a planned attempt to force certain people out of the military due to restriction to only one source for such benefits which is against military regulations. And hence, the world market teeters.

All tongue and cheek Cesnarc, I am sure you can add suppostions. Have fun, I will trade the order flow I see. For the current time I am intraday. 9650 is a long repeatable # over time and I always have a short or long order there on a very tight stop. Anyone thinks they can predict this they are nuts. EW's just adjust waves to fit. Indicator traders call it failed divergences, etc. I believe we are trading a very emotional intraday market while the pro's just sit back and encourage it every once and a while. When the carry trades calm down, then maybe we will see some definable moves.

In the meantime, I am really concerned. Bush found Trichet's thesauras and is going to start giving Trichet his key words over the phone. Oh my God!

Brad

I think henrycarol just shorted at 1.9651......

Hey Bradon, hope I can go grab my stick back profiting, so I'll bribe the guys and everything will be ok

looks like 9652 is THE NUMBER so far. Frankfurt spiked down then up and 4hr candle is to form a pin-bar, suggesting up during London.

This just broken the ancient downward channel initiated at 9900. But failing at this level in the upcoming hours will be bad for bulls - just remember the fight at 9500 a few days ago that killed all bears in the area.

A reversal to the downside would widen the channel only and will bring us to another annoying ranging day or week. Check the behavior starting Feb 06

Will post a chart soon....

http://i2.photobucket.com/albums/y28/cesarnc/feb26.jpg

No big news coming now, price on 1600 tick to roll over, there is daily resistance and pivot resistance at 9673-9675 area so will short there taking p1 at daily pivot(9606 level). looking to take full profit at 9544 level where will also reverse position to a buy.

last 4hr is a pin-bar, 1 pip from being a bullish engulfing bar, just spiked above 9652...

4hr stoch is overbought though

The short side of this move is the dangerous side as last week was an inside bar and we have already surpassed the upper bound of the move. 9675 would also be the upper bound of two weeks ago.

Good to have you back, Leugimp... Still in Portugal?

http://img2.freeimagehosting.net/uploads/27f6a21973.gif

is this right ??

got back saturday - still a bit jet lag - damn porto tied w/ chelsea 1-1

Seems we are still in comedy section,...i like that,...thats good for my health,.....

agree somewhat about saving someones presidency (the cover says it all), but again am worried about whos the big boy in the usa,...have a minor doubt its a double w.... ...

Troubles in Italy, berlusconi wants the power back, unfortunatly he wont succed, he is the bigest freat for the eu comunity, his voice sounds just like we are in ww2,... ...

there is no winter so im still in panties, well the devil holds,...lets see how long...forgot to mention,...dont try this at home....i got a bad feeling about the war, or more likely just a bad dream.

yee its right the fibo i mean...

Hell of a fight at 9650s, huh?

USDJPY broke to the downside, and (freeeaking Euro already) trying to go down stalling Cable (?)