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Cable Update (GBPUSD)

  • #8,441
  • Mar 16, 2007 4:39am Mar 16, 2007 4:39am
Quoting cesarnc
Taking partial for 60.... Buying pullback to... hmmm... 9444?
Price is now at 4h 250 EMA, an usual place to bounce. Many times price make a push through it to close below it... Nasty place to trade, given recent past..

Placing long here is for braves and riches only.
  • #8,442
  • Mar 16, 2007 4:47am Mar 16, 2007 4:47am
Lol wat ur 9666......is any hope...........as u so urs.......9444
"Trade for sake of trading & not for winning or Lossing"
  • #8,443
  • Mar 16, 2007 4:58am Mar 16, 2007 4:58am
Quoting HonaForex
Lol wat ur 9666......is any hope...........as u so urs.......9444
The CPI is the key to push through 4h 250 EMA. Looking to the past, 40 pips above or below this EMA means nothing... Cable has to close way above 9500 otherwise, the EMA will provide the reversal...

Put this EMA in your 4h chart and look at the past...
  • #8,444
  • Mar 16, 2007 5:07am Mar 16, 2007 5:07am
Quoting cesarnc
Good news tomorrow is Friday. With that disgusting Thu, it is likely to be one of those fantastic Fridays. CPI going nuts, revision stabbing our guts, positions being closed, crazy carries....

Place a short or a long by London open and check late NYC to see what happened. Best signal possible.
So far so good.
  • #8,445
  • Mar 16, 2007 5:23am Mar 16, 2007 5:23am
[FOCUS COMMENT: A HEALTH CHECK] for the US economy with key Feb CPI and ind prod data out. The Dollar index has once again taking a tumble through the lows of the year as ex-Fed Chairman Greenspan puts the boot in and raises the spectre that sub-prime contagion that could see the three bears eating the goldilocks economy.
  • #8,446
  • Mar 16, 2007 5:30am Mar 16, 2007 5:30am
Quoting cesarnc
So far so good.

not for me lol.....................Elliot wave screwed me..............bcos cable proved Elliot wave wrong that............market can go 5 waves up,5 waves down & agian 5 waves up that is wat happen form 212 to 390.390 to 305,305 to 375 respectively........................
"Trade for sake of trading & not for winning or Lossing"
  • #8,447
  • Mar 16, 2007 5:30am Mar 16, 2007 5:30am
which means tonight will be a selling usd night again??
  • #8,448
  • Mar 16, 2007 5:35am Mar 16, 2007 5:35am
Guys may i know in wat wave we r & does market fallowing Elliot wave according to U all..............pls give me comment.
"Trade for sake of trading & not for winning or Lossing"
  • #8,449
  • Mar 16, 2007 5:39am Mar 16, 2007 5:39am
Quoting HonaForex
not for me lol.....................Elliot wave screwed me..............bcos cable proved Elliot wave wrong that............market can go 5 waves up,5 waves down & agian 5 waves up that is wat happen form 212 to 390.390 to 305,305 to 375 respectively........................
It is not that I don't like EW. As I said before, EW is way to tough to trade, specially for me with months of forex only.

Some very nice EW emerges from my charts when 500 pips are already gone.

My view is: when I have more than 2 fibs and more than 2 channels in my charts, I'm in deep shit.
  • #8,450
  • Mar 16, 2007 5:49am Mar 16, 2007 5:49am
9466 is 61% fibo of big fall... Breach + bad CPI exposes the 78%, 9546...

I'm running

High 9645
Low 9183

  • #8,451
  • Mar 16, 2007 6:03am Mar 16, 2007 6:03am
oohhh noooo....

Henrycarol in the building... Bull party is over
  • #8,452
  • Mar 16, 2007 6:15am Mar 16, 2007 6:15am
Quoting cesarnc
oohhh noooo....

Henrycarol in the building... Bull party is over
I do not believe you. I will need to see Henrycarol posting. I just do not see any indication that cable wants to drop now. I have started to wonder whether it is going to try for 2.000 starting now. I expected it to drop first, then go up in a big way later. Wrong again, it is just not dropping. But there is still time. It is possible that the news will be USD positive. Well, it IS possible.
  • #8,453
  • Mar 16, 2007 6:18am Mar 16, 2007 6:18am
Quoting moonchild
I do not believe you. I will need to see Henrycarol posting. I just do not see any indication that cable wants to drop now. I have started to wonder whether it is going to try for 2.000 starting now. I expected it to drop first, then go up in a big way later. Wrong again, it is just not dropping. But there is still time. It is possible that the news will be USD positive. Well, it IS possible.
I pulled my last lots for 80 pips now... May go further up, though, but I'm not putting this precious profit in jeopardy, given my y'day 8 pips profit

I'm a buyer at 38% fibo from low 9369 to high yet to be found, if before the news...

Otherwise, I'm not trading this news...
  • #8,454
  • Mar 16, 2007 6:34am Mar 16, 2007 6:34am
Quoting moonchild
I do not believe you. I will need to see Henrycarol posting. I just do not see any indication that cable wants to drop now. I have started to wonder whether it is going to try for 2.000 starting now. I expected it to drop first, then go up in a big way later. Wrong again, it is just not dropping. But there is still time. It is possible that the news will be USD positive. Well, it IS possible.
what has me worried is the pound/yen has been awfully quiet this evening. seems like a good time for a hedge fund or two to start unloading some more pounds and buying yen ,watching 228.06 level
  • #8,455
  • Mar 16, 2007 6:44am Mar 16, 2007 6:44am
[NORTH AMERICA FX OPEN] Central bank selling has aided the broadly softer tone. The market may now be somewhat exposed to the US data expected to come in on the firm side, though outturns well above forecast for Feb CPI and IP will probably be needed to offer the Dollar a significant prop as economic worries continue to take hold.

Quoting 59fender
what has me worried is the pound/yen has been awfully quiet this evening. seems like a good time for a hedge fund or two to start unloading some more pounds and buying yen ,watching 228.06 level
Carries haven't been the focus today. "Russians" reported to be selling at 227.0 when GU was at 9420. When UJ gave up to dollar dumping, GB stalled at 227, everybody happy.

I just regret having chickened out my Euro long at 3216 this morning for 5 pips only. I'm a buyer only at a massive pullback now...
  • #8,456
  • Mar 16, 2007 6:48am Mar 16, 2007 6:48am
Quote
Guys may i know in wat wave we r & does market fallowing Elliot wave according to U all..............pls give me comment.
As I had prior expected, its wave 4 up or subwave 3 up, then others could say its a correction C up. LOL

You can count it like you want, as long you are in the rules of EW trading.
2.000 is something I thought we will see this year because dollar will suffer more losses in the near future. I read some time ago an article about analysts expections that the dollar selloff would begin in the second quarter this year.

If I have a look on the weekly and monthly chart, it looks (EW and fibo speaking) like there is more room for a downtrend, before we on our way to the real 2.000. I think we will see this number this year. But like always, if anyone wait to see a price, the market will make corrections in the opposite direction first.

My target for today is 1.9550, is a channel top.
  • #8,457
  • Mar 16, 2007 6:57am Mar 16, 2007 6:57am
Quoting katzenhai2

My target for today is 1.9550, is a channel top.
I missed this channel, thanks for sharing... Given the recent lows, this channels is now sharply downwards...

A push to 9600 today to close inside of the channel can open the window to further highs. But topping today inside of the channel will prove its sovereignty and down we go next week.
  • #8,458
  • Mar 16, 2007 7:04am Mar 16, 2007 7:04am
On daily, he reached the bottom of a prior daily upchannel exactly now. But I take my targets and think price will retrace back to where we are now later today.

Never try to find the retracement point, thats because I think it will go a little higher.
  • #8,459
  • Mar 16, 2007 7:15am Mar 16, 2007 7:15am
Quoting HonaForex
Myself not trading................just have look......i feel laughing at the chart................any one see good let me know............same chart made to lose many pips

According to me cable formed double Zigzig..............where W,X & Y are complete.........................if market form trible zigzig or wave 1,watever market must come down & US data must take down that wat i see...........check the chart..................eager to see ur veiws
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"Trade for sake of trading & not for winning or Lossing"
  • #8,460
  • Mar 16, 2007 7:23am Mar 16, 2007 7:23am
Good luck to all... Hope the nasty revisions not to show up today...

If forum freezes, see you hopefully at the other side of the 95ers.
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