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Cable Update (GBPUSD)

  • #7,521
  • Mar 2, 2007 1:38am Mar 2, 2007 1:38am
.....that's all it's doing for now. I'm kinda hoping she'll test the pivot and drop..... but I don't know.......... still haven't made up my mind.
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  • #7,522
  • Mar 2, 2007 1:45am Mar 2, 2007 1:45am
All I am seeing is a lot of bear scat around cable and the yen crosses, no evidence of any cow flop.

Does anyone see anything differently?
  • #7,523
  • Mar 2, 2007 2:08am Mar 2, 2007 2:08am
Starting to look that way.............
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  • #7,524
  • Mar 2, 2007 2:11am Mar 2, 2007 2:11am
Well, to keep myself coherent with my own words, I'd say Cable bearish.

- 4hr failed to confirm pin-bar
- Actual 4hr candle opened (slightly) below 4hr 250EMA, where good support was seen
- A lot os yen carry activities so far, dragging Cable down...
- Euro just failed 3180, good resistance turned to support, turned to resistance back again

I'm short. 9552, expecting an attempt at 9490s, where good support was seen last time...

Gonna take some time, though.
  • #7,525
  • Mar 2, 2007 2:28am Mar 2, 2007 2:28am
Yes, there is a thread on it here on FF...........

In theory......
First candle below line: 1.9555 - 2007.03.02 08:00
Projected profit: 1.9438

Just passing it a long. I am SHORT looking for 1.9464 long term.
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  • #7,526
  • Mar 2, 2007 2:37am Mar 2, 2007 2:37am
Did you just SHORT?
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  • #7,527
  • Mar 2, 2007 2:37am Mar 2, 2007 2:37am
Quoting tathlynq
Yes, there is a thread on it here on FF...........

In theory......
First candle below line: 1.9555 - 2007.03.02 08:00
Projected profit: 1.9438

Just passing it a long. I am SHORT looking for 1.9464 long term.
Thanks tath.

Please define "long term"...
9438 is not that far at all, as Frankfurt opened @ 9542 and today high is at the 9570s... 120-150 pips in a likely volatile day, quite possible...
  • #7,528
  • Mar 2, 2007 2:43am Mar 2, 2007 2:43am
wow. i didn't like that bounce... has to break this 9540 down or things are going to get nasty here
  • #7,529
  • Mar 2, 2007 2:56am Mar 2, 2007 2:56am
Agreed. 15M chart, RSI went oversold on the penultimate low and shows divergence on current low. This needs to show strength before the bulls stage a recovery. My eyes are peeled as this could affect my USDJPY position.
  • #7,530
  • Mar 2, 2007 2:58am Mar 2, 2007 2:58am
I think henrycarol is still shot lol !!!
  • #7,531
  • Mar 2, 2007 3:06am Mar 2, 2007 3:06am
Quoting 17121712
Agreed. 15M chart, RSI went oversold on the penultimate low and shows divergence on current low. This needs to show strength before the bulls stage a recovery. My eyes are peeled as this could affect my USDJPY position.
What is your UJ position?

I'm short at 117.64, not looking so good. But I'm expecting an attack to UJ throughout the day to the 117.1-116.9 area....

What do you think? 'cause I'm not familiar with yen, but this SOB is making a killing here. And I heard about uj @ 116 lately and it touched y'day!
  • #7,532
  • Mar 2, 2007 3:10am Mar 2, 2007 3:10am
It needs to close below 1.9521 to be considered a "breakout".......Hmmmmmmm.....
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  • #7,533
  • Mar 2, 2007 3:18am Mar 2, 2007 3:18am
Maybe the "minor" news at 4:30 will sway this things direction.
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  • #7,534
  • Mar 2, 2007 3:19am Mar 2, 2007 3:19am
For now we have lower highs and lower lows, which is a good sign for us who are short. I think that a nice drop is in order. The next strong daily support is 1.9450. Looks like a good destination.
  • #7,535
  • Mar 2, 2007 3:20am Mar 2, 2007 3:20am
Quoting tathlynq
Maybe the "minor" news at 4:30 will sway this things direction.
Some heavy sh@#! going on at 9540s.... I don't like it failing for so long at an important area... Next 2 15M failing to break and I'm outta here.
  • #7,536
  • Mar 2, 2007 3:22am Mar 2, 2007 3:22am
Quoting cesarnc
Some heavy sh@#! going on at 9540s.... I don't like it failing for so long at an important area... Next 2 15M failing to break and I'm outta here.

I agree. It wants to go down but...... something is holding it up.
Show me the PIPS!
  • #7,537
  • Mar 2, 2007 3:25am Mar 2, 2007 3:25am
Quoting tathlynq
I agree. It wants to go down but...... something is holding it up.
I think that I'm holding it up... If I pull the plug now, it will drop to 9100 in the 1m candle
  • #7,538
  • Mar 2, 2007 3:30am Mar 2, 2007 3:30am
Quoting cesarnc
What is your UJ position?
I'm long from 757. It was looking quite good earlier, I will have to wait and see if I will continue to hold it.
  • #7,539
  • Mar 2, 2007 3:40am Mar 2, 2007 3:40am
If you get a close below 1.9531 followed by a close below 1.9521 then the SHORT is secure.*WHEW*! A lot of line drawing.


Oh yeah, and if not........be careful!
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  • #7,540
  • Mar 2, 2007 3:42am Mar 2, 2007 3:42am
you mean the H1 right ?
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