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Cable Update (GBPUSD)

  • #8,401
  • Mar 15, 2007 8:06pm Mar 15, 2007 8:06pm
Quoting cesarnc
...US CPI will be look upon to provide fresh direction for the pair. Buying orders at 1.9340 by a UK Clearer will provide support and selling orders at 1.9420 by CTA's will limit upside gains.

Leaving a buy limit at 9350 (SL 9300 / TP 9500 overnight (here) just in case... As Euro is busting stops at 3280 (3300 on the cards), I guess we'll see a retrace from current price before heading upwards...

And a buy stop at 9410... All tiny lots
I take it you're expecting the CPI data to be USD negative...
  • #8,402
  • Mar 15, 2007 8:59pm Mar 15, 2007 8:59pm
Quoting RichardK
I take it you're expecting the CPI data to be USD negative...
Not really. I was expecting mixed to positive Asian stocks, following NYC, carries relaxing or selling yen, Euro retracing and pushingn against 3300. Downside seems exhausted already.

HOWEVER (this market is being moved by howevers)

Asia stocks are falling. I'm not moving my entry (9354, incl. spread), but I won't jump in long at the current range.

Euro is on the push non-stop for hours, but if I know little about this pair, it is time to retrace for refuelling or to push severely through 3300, dragging cable (?!?)

When carries relax, dollars are being sold in spasms... That's what I read. The entries are based on EMAs and previous price action only...
  • #8,403
  • Mar 15, 2007 9:26pm Mar 15, 2007 9:26pm
Quoting cesarnc
Not really. I was expecting mixed to positive Asian stocks, following NYC, carries relaxing or selling yen, Euro retracing and pushingn against 3300. Downside seems exhausted already.

HOWEVER (this market is being moved by howevers)

Asia stocks are falling. I'm not moving my entry (9354, incl. spread), but I won't jump in long at the current range.

Euro is on the push non-stop for hours, but if I know little about this pair, it is time to retrace for refuelling or to push severely through 3300, dragging cable (?!?)

When carries relax, dollars are being sold in spasms... That's what I read. The entries are based on EMAs and previous price action only...
Time for abit scalps.
Tra-X
  • #8,404
  • Mar 15, 2007 9:35pm Mar 15, 2007 9:35pm
Quoting cesarnc
Today candle closing this way, what does it suggests, from technical point-of-view?

I'd like to know that... Thanks.
My wednesday daily bar is a little different. Looks like a hammer. Probably gonna knock some of us upside the head. Ouch. Might get up to 1.95 area and try to break through.
Attached Image
  • #8,405
  • Mar 15, 2007 10:20pm Mar 15, 2007 10:20pm
Quoting SunTrader
My wednesday daily bar is a little different. Looks like a hammer. Probably gonna knock some of us upside the head. Ouch. Might get up to 1.95 area and try to break through.
I do not know, but that last candle looks like a spinning top to me and we may be seeing a drop coming rather than the long I was thinking was coming. I may just stay out for a while and see which way the worm turns.
  • #8,406
  • Mar 15, 2007 11:15pm Mar 15, 2007 11:15pm
Quoting moonchild
I do not know, but that last candle looks like a spinning top to me and we may be seeing a drop coming rather than the long I was thinking was coming. I may just stay out for a while and see which way the worm turns.
You might be right. Candles are not my strong point and don't find them particulary predictive. I know many others would strongly disagree.

Either way I think most would agree that Cable has been very hard to figure since it hit 1.99

A month of drifting, a downtrend and then more drifting. Come on already.

I think next week might be the start of a new move down. The last big move down (3 day slide) previous higher high 2/27/07 was 10 days after preceding lower low 2/13/07. Monday 3/19/07 will be 10 days from most recent lower low 3/5/07. A measured move perhaps. We'll see.

Otherwise Henry(Soros)Carol needs to step up.
  • #8,407
  • Mar 15, 2007 11:46pm Mar 15, 2007 11:46pm
While pin bars on 1H charts are not very reliable, this just means that I do not use them to get into a trade, but it still makes them good enough to use as a reason to get out of a trade.

There was a very nice pin bar on the cable 1H chart 2 closed bars ago and this was sufficient reason for me to close a trade with a small profit. I do not know whether cable will return to its uptrend or not, but for now I am out and watching.
  • #8,408
  • Mar 16, 2007 12:47am Mar 16, 2007 12:47am
we're still range bound a 100 pip movement either way is likely. 1.9450 or some where around the 50 fib line 1.9430 is possible. i'm favoring a move to the downside the target is 1.9285. with cpi pushing us down to "test" 1.9200 I don't see a major move until the interest rate meeting next week just my thoughts
  • #8,409
  • Mar 16, 2007 1:20am Mar 16, 2007 1:20am
forcast 1.9338 my butt is on the line here
  • #8,410
  • Mar 16, 2007 1:47am Mar 16, 2007 1:47am
.9338 it is then!
  • #8,411
  • Edited 2:46am Mar 16, 2007 2:45am | Edited 2:46am
great point now....

http://img83.imageshack.us/img83/840...x005dr3.th.jpg
  • #8,412
  • Mar 16, 2007 2:54am Mar 16, 2007 2:54am
short @ 9420
target -- 9350
  • #8,413
  • Mar 16, 2007 2:57am Mar 16, 2007 2:57am
Lol cable behaving some wat i never expected.......but cable see is 470/490 thats wat my chart saying.......but i m not trading........bcos i have lost too much in short......there4 let me watch today.......if price is coming to 390 i may go long.............All the best to U all
"Trade for sake of trading & not for winning or Lossing"
  • #8,414
  • Mar 16, 2007 2:58am Mar 16, 2007 2:58am
Quoting golatigo
short @ 9420
target -- 9350
Yeah, let's try a short here. Max target is prolly 1.9280-1.9300. We'll see.
Tra-X
  • #8,415
  • Mar 16, 2007 3:01am Mar 16, 2007 3:01am
Quoting golatigo
short @ 9420
target -- 9350

Yap u r right.......better to blame ourself than others........guys be alert
"Trade for sake of trading & not for winning or Lossing"
  • #8,416
  • Mar 16, 2007 3:06am Mar 16, 2007 3:06am
with USD news and the weekend coming, looks like a good day for golf! Cheers All!
  • #8,417
  • Mar 16, 2007 3:06am Mar 16, 2007 3:06am
Form yestrady everyone is selling dollar............only God knows the future..........& myelf buying dollar got good kick........but today no dollar pls
"Trade for sake of trading & not for winning or Lossing"
  • #8,418
  • Mar 16, 2007 3:11am Mar 16, 2007 3:11am
Quoting rwj67
with USD news and the weekend coming, looks like a good day for golf! Cheers All!
Yap man its better than watching this ugly screen agian & agian.............where it has no direction............before Euro was leading the currency now pound took over..........i do not know what is going with pound doing every where. great...............no news at all.......any one pls
"Trade for sake of trading & not for winning or Lossing"
  • #8,419
  • Mar 16, 2007 3:12am Mar 16, 2007 3:12am
yesterday we broken the EMA 100 (H4 - G/U)
http://img213.imageshack.us/img213/5...x006bw2.th.jpg

If cable up the fibo 50 %

http://img83.imageshack.us/my.php?im...orex005dr3.jpg

we can go to test 1.9560
  • #8,420
  • Mar 16, 2007 3:12am Mar 16, 2007 3:12am
im not open, but i hit 194.17 twice. first one was mar. 11, could be double top? comments please.
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