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Cable Update (GBPUSD)

  • #122,961
  • Feb 24, 2009 1:38am Feb 24, 2009 1:38am
Quoting Myman
Prepare for another drop before UK session

tight your seat belt.... are you ready?
  • #122,962
  • Feb 24, 2009 1:42am Feb 24, 2009 1:42am
Yes, altho USDJPY is at a high not seen since Nov 2008 making a foecast tough.

Quoting thirtypips
I have also been watching the GBPJPY and YES, it has been messing up the GBP. Also, the sell off of the EURGBP has also been pushing the GBPUSD higher.

With the GBPJPY at 1.3828, there might be a SELL off there soon as it is at a 2wk High or there abouts, then allowing the GBPUSD to drop again.
Ride the Bulls bearback!
  • #122,963
  • Feb 24, 2009 1:47am Feb 24, 2009 1:47am
Quoting dashboard
tight your seat belt.... are you ready?
WHICH WAY....to land or take off ?
  • #122,964
  • Feb 24, 2009 1:50am Feb 24, 2009 1:50am
Quoting alcando
There has been a large selloff of the "safe haven" Yen this week and the price is forecast to move even further North over the coming days. I am finding that the GBYJPY is respecting the fibs very well but it is totally messing cable around as the USDJPY is gaining on the Yen simultaneously. Is anyone else watching this effect? I am finding cable very difficult to predict with this Yen fall going on.
Selloff of yen doesn't surprise me, many people were expecting it for a while. What makes me curious is where are people putting all that selloff money with recent banking speculations in US? Major indexes are going down.
Into commodities? Probably to some extent. we saw gold going over 1k and getting back.
Anyway my point is that people are having cash on hands and current economic situation isn't showing any good signs. So, as soon as the nationalization news calm down or at least market fully adapts them into the price of USD we will see some new huge injections into USD... and nice pips for us.
  • #122,965
  • Feb 24, 2009 1:52am Feb 24, 2009 1:52am
this point seen Abus entry point for 1st long..lets see if the next candle will open around 1.4515....

we are sitting on the keg of a gun powder....any thing can happen
  • #122,966
  • Feb 24, 2009 1:55am Feb 24, 2009 1:55am
Quoting alfamichi
WHICH WAY....to land or take off ?
my target is still up for few days...
so maybe now will go in down first, but at least it will up or it can be up suddenly..... it depends on news that we will see in a few hours. so i'm still wait.... i'm only take the trend not the correction so i'm still in bullish bias just look for the long one
  • #122,967
  • Feb 24, 2009 2:05am Feb 24, 2009 2:05am
We will reached 1.4600/40 then drop since we have news on CBI Realized sales for GBP. Perhaps it goes back up (or continues to go down) for another news for US on CB Consumer Confidence.
  • #122,968
  • Feb 24, 2009 2:15am Feb 24, 2009 2:15am
Good morning everyone. Nice move during the Asia closes. I've been looking at Abu's analysis and levels for today. Can someone confirm they are not mis-typed. There is a target number of pips of 557 on Buy 3 and 572 on sell 3?!?!?!
  • #122,969
  • Feb 24, 2009 2:28am Feb 24, 2009 2:28am
Dangerous Session

Attached Image (click to enlarge)
Click to Enlarge Name: flat.gif Size: 29 KB




I'm still hold sell...
  • #122,970
  • Feb 24, 2009 2:45am Feb 24, 2009 2:45am
bullish wedge which already has been noted, and I have a triangle formed, low start of which is just after Sunday's open
  • #122,971
  • Feb 24, 2009 2:52am Feb 24, 2009 2:52am
Quoting alcando
There has been a large selloff of the "safe haven" Yen this week and the price is forecast to move even further North over the coming days. I am finding that the GBYJPY is respecting the fibs very well but it is totally messing cable around as the USDJPY is gaining on the Yen simultaneously. Is anyone else watching this effect? I am finding cable very difficult to predict with this Yen fall going on.
I see it al. Been trading dragon for the past week & I must say it's a lot easier to trade the dragon compared to cable this past week. Dragon correlates strongly with usd/yen atm. What I see is if usd/yen moves south together with dragon it pulls cable down with it. At this point however usd/yen is at a very strong resistance level @95.5 which was the resistance on 1 dec 2008 and the support before that. Dragon's movement seems stalled below the 139 level. Should the usd/yen beat the resistance & dragon breaks the 139, my bias will change as I believe 4600 level on the cable will be breached.
But of course at the moment, I am not budging from being bearish. 4600 isn't yet broken, plus that shooting star on the daily does not look good for bull positioning.
Just a thought. Cheers.
Thank You
  • #122,972
  • Feb 24, 2009 3:02am Feb 24, 2009 3:02am
Bus ticket to south is already for booking? Anyone wants to join the ride?
  • #122,973
  • Edited 3:07am Feb 24, 2009 3:02am | Edited 3:07am
Hi,

never posted on this forum before but have been reading it for a while, especially the cable thread. I just thought it was about time to say hi to all and also contribute.
As for todays session, it sure seems a dangerous one. Altough on the higher timeframes i am compelled to be bearish biased, on 15m/5m there seems to be no selling pressure to break 1,4500 just yet.
I'm currently long 1,4503 with tight SL (1,4485). I'm not decided on a TP just yet. Will see how it behaves.

UPDATE: closed at 1,4525 for small profit on what seemed too much volume for a steady climb. I probably should have said that I also tend to have positions only for a few minutes.
  • #122,974
  • Feb 24, 2009 3:12am Feb 24, 2009 3:12am
Quoting tiagor
Hi,

never posted on this forum before but have been reading it for a while, especially the cable thread. I just thought it was about time to say hi to all and also contribute.
As for todays session, it sure seems a dangerous one. Altough on the higher timeframes i am compelled to be bearish biased, on 15m/5m there seems to be no selling pressure to break 1,4500 just yet.
I'm currently long 1,4503 with tight SL (1,4485). I'm not decided on a TP just yet. Will see how it behaves.

UPDATE: closed at 1,4525 for small profit on what seemed too much...
GOOD possition but I think there are some scalpers having some fun at the moment, Selling at around 1.4520 and closing their possitions at 1.4500. Something I should have been doing today when you look back. I am still in my Sell possition that I took at 1.4560 this morning.
  • #122,975
  • Feb 24, 2009 3:13am Feb 24, 2009 3:13am
Quoting Myman
Bus ticket to south is already for booking? Anyone wants to join the ride?
OYO.....on your own
  • #122,976
  • Feb 24, 2009 3:20am Feb 24, 2009 3:20am
Quoting Myman
Bus ticket to south is already for booking? Anyone wants to join the ride?
booked@ 4592 yesterday. Let's see if she trips today.
Thank You
  • #122,977
  • Feb 24, 2009 3:21am Feb 24, 2009 3:21am
I might as well be dead wrong but there seems to be some accumulation of short positions. Shorting at 1,45313 for a few pips down to 1,45...
  • #122,978
  • Feb 24, 2009 3:22am Feb 24, 2009 3:22am
Quoting tiagor
Hi,

never posted on this forum before but have been reading it for a while, especially the cable thread. I just thought it was about time to say hi to all and also contribute.
As for todays session, it sure seems a dangerous one. Altough on the higher timeframes i am compelled to be bearish biased, on 15m/5m there seems to be no selling pressure to break 1,4500 just yet.
I'm currently long 1,4503 with tight SL (1,4485). I'm not decided on a TP just yet. Will see how it behaves.

UPDATE: closed at 1,4525 for small profit on what seemed too much...
Hi Tiagor, welcome! interesting you mention volume. Not much talk on this forum on this subject. I use it alot to help with triggers (VSA). I would be interested to hear how much you use it and if you have dedicated software to apply it.
  • #122,979
  • Feb 24, 2009 3:23am Feb 24, 2009 3:23am
Quoting Myman
Bus ticket to south is already for booking? Anyone wants to join the ride?
gOOD morning all,
Myguy, news in abt 8mints......and who is the driver of that bus? Cant he wait?
  • #122,980
  • Feb 24, 2009 3:25am Feb 24, 2009 3:25am
Quoting Barny
Hi Tiagor, welcome! interesting you mention volume. Not much talk on this forum on this subject. I use it alot to help with triggers (VSA). I would be interested to hear how much you use it and if you have dedicated software to apply it.
Hello Barny. You're right. I use tick volume along with price action much in the way VSA works. Zero indicators, that is
What I'm looking at is signs of accumulation/distribution and try to get along with where the money is going.
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