Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

Post #113,401
Quote
Jan 21, 2009 2:21am Jan 21, 2009 2:21am

blurrcow
| Joined Jan 2009 | Status: Member | 204 Posts

Quoting fry2010

Disliked

cud we be seeing yet another descending triangle on m15?
This will be the third iv seen past few days.

Ignored

will we see 1.35x today?

Post #113,402
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Jan 21, 2009 2:22am Jan 21, 2009 2:22am

Abu-Rami
Joined Jul 2007 | Status: Senior Member | 1,553 Posts

Happy Trading,

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Post #113,403
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Jan 21, 2009 2:34am Jan 21, 2009 2:34am

fry2010
| Joined Mar 2008 | Status: Member | 785 Posts

Quoting blurrcow

Disliked

will we see 1.35x today?

Ignored

Well pa certainly favours it eh. Not a lot of buying going on.

Post #113,404
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Jan 21, 2009 2:37am Jan 21, 2009 2:37am

lucio
| Joined Jan 2009 | Status: Member | 11 Posts

Cable looks heavy again today and most likely we will go take out 1.3680- the low of some years ago- Sterling looks very heavy and will keep going at even faster pace should we read in todays minutes some hint of quantitative easing in the cards

Post #113,405
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Jan 21, 2009 3:04am Jan 21, 2009 3:04am

Brb-Fraudin
| Joined Jan 2009 | Status: 10K a day. | 502 Posts

MPC Meeting Minutes (GBP) will be in 4:30 AM . WHat are ur thoughts guys about it?

Post #113,406
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Jan 21, 2009 3:43am Jan 21, 2009 3:43am

Galation
| Joined Oct 2008 | Status: A witty saying proves nothing. | 1,178 Posts

I'm posting my post from last night again because it is higihly relevant to what is going to happen with this currency.

"This is my analysis on this currency pair. I believe there is a high probability we will test the 1.3680 support level. If that support level is broken significantly, a further large drop is probably on the cards. I am currently in a short position, from basis 1.3965.

p.s. You will have to click on the chart and enlarge it to see it properly."

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Probability Professor

Post #113,407
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Jan 21, 2009 3:45am Jan 21, 2009 3:45am

alcando
| Joined Jul 2008 | Status: Pip Pincher | 758 Posts

Thanks Galation. Good post and some nice articles you posted last night. Thanks.

Quoting Galation

Disliked

I'm posting my post from last night again because it is higihly relevant to what is going to happen with this currency.

"This is my analysis on this currency pair. I believe there is a high probability we will test the 1.3680 support level. If that support level is broken significantly, a further large drop is probably on the cards. I am currently in a short position, from basis 1.3965.

p.s. You will have to click on the chart and enlarge it to see it properly."

Ignored

Ride the Bulls bearback!

Post #113,408
Quote
Jan 21, 2009 3:46am Jan 21, 2009 3:46am

therealist
| Joined Oct 2008 | Status: Always learning | 67 Posts

Do most of you think we at least test 3680? What happens if we break it? I have a couple good shorts on right now and holding for 3680, hoping for 3550.

therealisttruest (FF wouldn't let me put my full ID because of length)

Post #113,409
Quote
Jan 21, 2009 3:50am Jan 21, 2009 3:50am

FerruFx
Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,510 Posts

Quoting Abuawad

Disliked

Happy Trading,

Ignored

Thanks Abuawad for your analysis table.

FerruFx

MT4/MT5 EAs/Indicators/Alerts coder

Post #113,410
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Jan 21, 2009 3:51am Jan 21, 2009 3:51am

SmoothTrader
Joined Oct 2008 | Status: Perpetual Student of the Charts | 947 Posts

Quoting Galation

Disliked

I'm posting my post from last night again because it is higihly relevant to what is going to happen with this currency.

"This is my analysis on this currency pair. I believe there is a high probability we will test the 1.3680 support level. If that support level is broken significantly, a further large drop is probably on the cards. I am currently in a short position, from basis 1.3965.

p.s. You will have to click on the chart and enlarge it to see it properly."

Ignored

Way to ride it down. You have some major pips to bank now.

I just woke up from a two hour nap and I was pleasantly surprised to see Cable down at my partial profit area. Banked partial profits here from some of my shorts yesterday at 13900, 13950 & 14000 levels (missed the 14050 level).

Now I will wait and see how the 13700 level is going to treat me. Looking for a bounce here and will possible add shorts a little bit higher.

Post #113,411
Quote
Jan 21, 2009 3:52am Jan 21, 2009 3:52am

alcando
| Joined Jul 2008 | Status: Pip Pincher | 758 Posts

I have closed my shorts now in anticipation of a potential retracement prior to the news and respecting the potential support zone that Galation is referring to here. 30pips shy is not a big sacrifice. I will consider a re-short later but this could bounce quite a bit with profit takers at this level.

Quoting therealist

Disliked

Do most of you think we at least test 3680? What happens if we break it? I have a couple good shorts on right now and holding for 3680, hoping for 3550.

Ignored

Ride the Bulls bearback!

Post #113,412
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Jan 21, 2009 3:52am Jan 21, 2009 3:52am

janka3002
| Joined Jan 2009 | Status: Member | 144 Posts

I hope that from 1.38 it will go down very strongly

Post #113,413
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Jan 21, 2009 3:53am Jan 21, 2009 3:53am

rogerdoger
| Joined Feb 2008 | Status: Member | 796 Posts

Quoting therealist

Disliked

Do most of you think we at least test 3680? What happens if we break it? I have a couple good shorts on right now and holding for 3680, hoping for 3550.

Ignored

targeting 3400

Post #113,414
Quote
Jan 21, 2009 3:54am Jan 21, 2009 3:54am

Galation
| Joined Oct 2008 | Status: A witty saying proves nothing. | 1,178 Posts

Quoting alcando

Disliked

Thanks Galation. Good post and some nice articles you posted last night. Thanks.

Ignored

Not a problem. Last time the price broke through the 1.3680 level, coming down from 1.40, it took 55 weeks to come back up to the 1.3680 level.

Just like the articles were saying last night: the first 100 days of Obama's office will dictate what will happen with the USD. If the stock market recovers, people will have a healthier risk appetite and will look for more risky investments: therefore pulling out of the dollar, which they are currently flocking to due to risk aversion.

Probability Professor