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Cable Update (GBPUSD)

  • #9,121
  • Mar 26, 2007 10:40am Mar 26, 2007 10:40am
DJ MARKET TALK: Dollar Index To Revisit Downtrend Low

Mon Mar 26 10:44:48 2007
EDT

1444 GMT [Dow Jones] The stop U.S. Dollar index has slipped below 83.00, and
so has signaled a probable move down to 82.77-82.66 support. That support was
tested on March 22 when the index sunk to 82.65, which is the low for its
nearly three-month downtrend.
Tra-X
  • #9,122
  • Mar 26, 2007 10:57am Mar 26, 2007 10:57am
Still long cable, now short UJ. Trading the trend.

With EUR and GJ biased up, the downside seems buffered.
  • #9,123
  • Mar 26, 2007 11:13am Mar 26, 2007 11:13am
we saw today new highs and we do expect good data 2moro, so logicly its going up 2moro, i wonder guyz y all of are loading sell positions, can anybody give me an answer ?
  • #9,124
  • Mar 26, 2007 11:22am Mar 26, 2007 11:22am
Quoting pip hustla
we saw today new highs and we do expect good data 2moro, so logicly its going up 2moro, i wonder guyz y all of are loading sell positions, can anybody give me an answer ?
shooting at likely strong resistances. I got backfired enough doing that. Last time, 9913 .

No more... rather loose if caught in reversal than go grab my account in pieces in the skies...
  • #9,125
  • Mar 26, 2007 11:25am Mar 26, 2007 11:25am
Quoting gkumar
Hi cesarnc
where do you think is the support for GBP now? Thanks
Kumar
i'll answer this.

before i do, listen closely.. you asked for support for GBP. GBP what? GBPjpy, eurGBP, GBPchf, GBPusd? how do you expect anyone to answer your question when you don't even know what the hell you are asking? think before you start asking questions and try to be somewhat specific. okay?

i will assume this time that you are asking about the cable, do you know what that is? that's GBPUSD.

there is a reasonably good immediate support for cable at 9660.
BAM BAM BOOM! -bravado
  • #9,126
  • Mar 26, 2007 11:33am Mar 26, 2007 11:33am
Quoting bravado
before i do, listen closely.. you asked for support for GBP. GBP what? GBPjpy, eurGBP, GBPchf, GBPusd? how do you expect anyone to answer your question when you don't even know what the hell you are asking? think before you start asking questions and try to be somewhat specific. okay?
this is gbp/usd thread so if anyone refers to gbp only I think it is safe to assume that he refers to gbp/usd...
  • #9,127
  • Mar 26, 2007 11:42am Mar 26, 2007 11:42am
Quoting bravado
i'll answer this.

before i do, listen closely.. you asked for support for GBP. GBP what? GBPjpy, eurGBP, GBPchf, GBPusd? how do you expect anyone to answer your question when you don't even know what the hell you are asking? think before you start asking questions and try to be somewhat specific. okay?

i will assume this time that you are asking about the cable, do you know what that is? that's GBPUSD.

there is a reasonably good immediate support for cable at 9660.
Sorry I thought I wrote GBP/USD. I do know what cable is. This forum is titled cable update (GBP/USD). So, my assumption is everyone means cable unless otherwise specifically mentioned.
If you read through what the discussion was when I posted this question to cesarnc, then you will understand what I meant or maybe not. Cesarnc immediately answered my question.
Kumar
  • #9,128
  • Mar 26, 2007 11:44am Mar 26, 2007 11:44am
I dont have more ammo now.......

for gunfighting and also for shoot the cowboy
I Deeply Love My Virtual Life In Virtual World , RLC
  • #9,129
  • Mar 26, 2007 11:47am Mar 26, 2007 11:47am
Quoting bravado
i'll answer this.

before i do, listen closely.. you asked for support for GBP. GBP what? GBPjpy, eurGBP, GBPchf, GBPusd? how do you expect anyone to answer your question when you don't even know what the hell you are asking? think before you start asking questions and try to be somewhat specific. okay?

i will assume this time that you are asking about the cable, do you know what that is? that's GBPUSD.

there is a reasonably good immediate support for cable at 9660.
Perhaps we might all remember that the title of this thread - as stated in the header above is "Cable Update (GBPUSD)"....IMO that makes the subject of gkumar´s question self evident and and one that is unworthy of an acerbic response.
Trading Levels with WRBs
  • #9,130
  • Mar 26, 2007 11:48am Mar 26, 2007 11:48am
Quoting Islander
Perhaps we might all remember that the title of this thread - as stated in the header above is "Cable Update (GBPUSD)"....IMO that makes the subject of gkumar´s question self evident and and one that is unworthy of an acerbic response.
Bravo!
  • #9,131
  • Mar 26, 2007 11:50am Mar 26, 2007 11:50am
Quoting pip hustla
we saw today new highs and we do expect good data 2moro, so logicly its going up 2moro, i wonder guyz y all of are loading sell positions, can anybody give me an answer ?
No loading of any kind going on, just shorting at resistance and playing the pullbacks. shorted at 9715 out at 9677, holding short at 9700 with a 9740 stop, looking for 9650-40 or lower to tp. Not a huge risk imo it's a greater risk to go long until the 9720-30 has been broken and further uptrend is established.
  • #9,132
  • Mar 26, 2007 11:53am Mar 26, 2007 11:53am
The air feel so hot now, i must swim........and drink cold beer too.

My acc. is hot too now, must jump to the pool too.

Did everyone here have a nice cold beer ?

i really need one rather than a "Cable" around my neck.
I Deeply Love My Virtual Life In Virtual World , RLC
  • #9,133
  • Mar 26, 2007 11:53am Mar 26, 2007 11:53am
Thank you camisa and islander for your support. I am a newbie to forex trading. I have been following this thread for quite a while now. I can understand the indicators and to a certain extent identify in which direction the trend is but I am unable to identify support and resistance levels. Hence, my question.
Kumar
  • #9,134
  • Mar 26, 2007 12:01pm Mar 26, 2007 12:01pm
supports and resistances can be found on a many sites for free. It gives you a general idea of where the bids and offers can be found. Once support is broken, it tends to become the new resistance and once resistance is broken it tends to become the new support.

I personally add or subtract a few pips to the known supports and resistance levels when trading a range.

you'll usually find a daily article on supports and resistance levels here, if your broker doesn't give any advice
http://biz.yahoo.com/fxcm/070326/117...7031.html?.v=1

also if you're trying to figure your own supports and resistance for a particular movement, fibonnacci methods works well.
  • #9,135
  • Mar 26, 2007 12:06pm Mar 26, 2007 12:06pm
Quoting gkumar
Thank you camisa and islander for your support. I am a newbie to forex trading. I have been following this thread for quite a while now. I can understand the indicators and to a certain extent identify in which direction the trend is but I am unable to identify support and resistance levels. Hence, my question.
Kumar
As thumb rule in the lack of clear pattern observed, expect S&R's always ahead of double zeros (XX05 / XX95), bit stronger at XX20 / XX80

I also use 250EMA as reference for S&Rs. from 15M to 4h, the larger the timeframe the stronger the expected S&R.

Thumb rules to let it clear
  • #9,136
  • Mar 26, 2007 12:07pm Mar 26, 2007 12:07pm
There are lots of indicators that could be used to define supports/resistances. The one mostly being used is the pivot system as leelee75k has described above.
Other notable indicators are fibonacci retracement/expansion levels, trendlines/channels, and psychological levels (1.9000, 2.0000, etc), those could help us in defining S/R too.
Tra-X
  • #9,137
  • Mar 26, 2007 12:10pm Mar 26, 2007 12:10pm
Cable fale to go above 1.9720,so I think,that longs are not a good idea for now.
The question is are we going to retest the 1.9445 level at last ?
  • #9,138
  • Mar 26, 2007 12:13pm Mar 26, 2007 12:13pm
Quoting TheCable
Cable fale to go above 1.9720,so I think,that longs are not a good idea for now.
The question is are we going to retest the 1.9445 level at last ?
Maybe it'll re-test the resistance again for the last chance.
Tra-X
  • #9,139
  • Mar 26, 2007 12:14pm Mar 26, 2007 12:14pm
Contacts are citing some reluctance to press the [USD]'s downside after the initial reaction to the Feb new home sales data. That may reflect the busy week of US data to come, which culminates in the Q4 PCE which is of such concern to the Fed at present (note Mishkin's comments of earlier). CTA stops have been tripped under 117.65 in [USD/JPY], though importer and Japanese investor bids are lined up into 117.50, while the Jpy is showing renewed signs of softness on the crosses.
  • #9,140
  • Mar 26, 2007 12:16pm Mar 26, 2007 12:16pm
Quoting leelee75k
supports and resistances can be found on a many sites for free. ..
Thanks for your help. I have been trying fibonacci and looking at some websites for support and resistance. I hope to understand them better.
Kumar
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