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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #101
  • Mar 9, 2009 10:08am Mar 9, 2009 10:08am
I have amended sl for cable again, as I just realised that the current price just bounced hard off the channel's lower tl. Good call by some of the guys here earlier who went long.
short 4120 sl@3850
Good luck!
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  • #102
  • Mar 9, 2009 10:08am Mar 9, 2009 10:08am
Mon, Mar 9 2009, 13:38 GMT
by FastBrokers Research Team
 FastBrokersFX


GBP/USD

The Cable is crashing Monday on the news Britain is nationalizing Lloyd’s Bank. Additionally, it seems HSBC has considerable exposure in U.S. loans, hinting it will need further assistance from the British government. Hence, the Britain government is committing itself fully to unknown levels of toxic debt, meaning the BOE may have to print many more Pounds to account for the losses. This news has sent the GBP/USD tumbling below our 1st tier uptrend line and well below the psychological 1.40 level. The Cable is on the path to retest 2009 lows in a hurry. Should the currency pair reach 2009 lows intraday, we expect considerable support and a rally from these levels. However, the development is confirming our negative trend outlook on the Cable. The next important development will be whether the Cable can hold 2009 lows in the near-term. If the lows don’t hold, then we could witness the continuation of incredible near-term selling pressure. Fundamentally, we find resistances of 1.3777, 1.3805, 1.3844, and 1.3877. To the downside, we see supports of 1.3726, 1.3683, 1.3621, and 1.3585. The 1.40 level becomes a psychological barrier to the upside with 1.35 serving as a cushion to the downside. The GBP/USD is currently exchanging at 1.3764.
Probability Professor
  • #103
  • Mar 9, 2009 11:16am Mar 9, 2009 11:16am
It's going to be really interesting to see how cable ends the day. 3900 now is the ceiling. If she close below this level, then I suppose the bottom isn't here yet.
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  • #104
  • Mar 9, 2009 11:24am Mar 9, 2009 11:24am
Quoting wormboy
It's going to be really interesting to see how cable ends the day. 3900 now is the ceiling. If she close below this level, then I suppose the bottom isn't here yet.
I'd give it more space... between 39 and 40
they are printing many pounds ... this was anticipated movement... and there will be more in my opinion... you could do a grid of sell orders between 38 and 40... and get what the market gives...
  • #105
  • Mar 9, 2009 11:28am Mar 9, 2009 11:28am
aye, agreed emda. I won't pin it dow to the pip either. 3900 level I suppose sounds about right. Personally I'll be waiting at this level to short the crap out of her again.
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  • #106
  • Mar 9, 2009 11:40am Mar 9, 2009 11:40am
Quoting wormboy
It's going to be really interesting to see how cable ends the day. 3900 now is the ceiling. If she close below this level, then I suppose the bottom isn't here yet.
Great thread you got going Wormboy... I like the thread title too... "the wormhole"..

I agree with your above statement but I also think a day close below 4000 will be enough to take us further down...
Patience + Discipline - Greed = Success
  • #107
  • Mar 9, 2009 11:50am Mar 9, 2009 11:50am
Quoting wormboy
aye, agreed emda. I won't pin it dow to the pip either. 3900 level I suppose sounds about right. Personally I'll be waiting at this level to short the crap out of her again.
I totally agree that if it will close under 1.39 we have a lot's of room to go down more monthly looks scary
  • #108
  • Mar 9, 2009 11:51am Mar 9, 2009 11:51am
heyyyy infinity. What's up hombre .. so how are the trades coming mate? All good I hope
Yea, I've posted the same daily chart showing the same resistance @3900 for two weeks. Today she breaks, but the day isn't over yet, so it is really going to be interesting as I said earlier. But looking by the fundies that galation just posted things does not look too healthy for the sterling to put up a fight really. Should cable close below the highlighted area, it's a loooong way down. I for one, won't be calling it bottom just yet.
Nothing much for me to do now, since I'm already in trades and holding it. Just thread hopping and crashed in on eo just now
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  • #109
  • Mar 9, 2009 11:54am Mar 9, 2009 11:54am
Quoting sofia101
I totally agree that if it will close under 1.39 we have a lot's of room to go down more monthly looks scary
Hi sofia! Cashing in lots I hope?
Yes, I agree scary, the scary thought of us making crazy amount of funny money like the one you have on your avatar
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  • #110
  • Mar 9, 2009 12:02pm Mar 9, 2009 12:02pm
Quoting wormboy
Hi sofia! Cashing in lots I hope?
Yes, I agree scary, the scary thought of us making crazy amount of funny money like the one you have on your avatar
Of Course I remember we where talking about it before.like last week and on the monthly I see very low numbers ,we are just along for the ride
  • #111
  • Mar 9, 2009 12:23pm Mar 9, 2009 12:23pm
Lol you remembered! Yes, I agree about the low numbers. Safest bet right now is just to trade the direction and forget about the rest. We've locked in safe anyway. The daily points further selling atm for me. Won't want to try to be ahead of the market, we're just retail traders, we don't move it.
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  • #112
  • Mar 9, 2009 12:55pm Mar 9, 2009 12:55pm
I can see this going to the 61.8 Fib level here guys. I mean it's possible and like I said in the other thread, I have a long term signal on my system that is rarely wrong. And remember, I am telling you this ahead of time so you know I am not trying to snow you. Seriously though, this thing can turn at any of these Fib levels: 38.2% ( 1.3900 ), 50 % ( 1.3960 ) or the 61.8 ( 1.4000 )

AJ
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  • #113
  • Mar 9, 2009 12:57pm Mar 9, 2009 12:57pm
Here is my signal.
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  • #114
  • Mar 9, 2009 1:20pm Mar 9, 2009 1:20pm
What is it that you are calling a long or short

a long i hope, for shorts time has run out me thinks
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"Millionaires don't use astrology, billionaires do"
  • #115
  • Mar 9, 2009 1:32pm Mar 9, 2009 1:32pm
Yea Jim's calling it long orion. And you probably are right about it, I have that bounce of the chanel ltl in my post #101. But, I have locked in green & tighten the sl anyway, so I'll just let it run. Low volume anyway atm to have one placed. I just need to see how the daily close before I position myself again. Cheers.
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  • #116
  • Mar 9, 2009 1:38pm Mar 9, 2009 1:38pm
Quoting donutman_111
I can see this going to the 61.8 Fib level here guys. I mean it's possible and like I said in the other thread, I have a long term signal on my system that is rarely wrong. And remember, I am telling you this ahead of time so you know I am not trying to snow you. Seriously though, this thing can turn at any of these Fib levels: 38.2% ( 1.3900 ), 50 % ( 1.3960 ) or the 61.8 ( 1.4000 )

AJ
Jim, I know you're for real mate, no worries. About where she turns, you forgot to mention 23.6. That's where my sl is at anyway 3850
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  • #117
  • Mar 9, 2009 1:42pm Mar 9, 2009 1:42pm
Quoting Infinity
Great thread you got going Wormboy... I like the thread title too... "the wormhole"..

I agree with your above statement but I also think a day close below 4000 will be enough to take us further down...
I'm confident it will close below 1.4000 today; especially as volume is decreasing rapidly.
Probability Professor
  • #118
  • Mar 9, 2009 1:49pm Mar 9, 2009 1:49pm
Quoting wormboy
Yea Jim's calling it long orion. And you probably are right about it, I have that bounce of the chanel ltl in my post #101. But, I have locked in green & tighten the sl anyway, so I'll just let it run. Low volume anyway atm to have one placed. I just need to see how the daily close before I position myself again. Cheers.

we will see them lo's today again and prolly a minor penetration tomorrow beyond it as they liquidate the books, buying into the selling
"Millionaires don't use astrology, billionaires do"
  • #119
  • Mar 9, 2009 2:39pm Mar 9, 2009 2:39pm
Orion : What do you think about dragon? Any opinion?
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  • #120
  • Edited 3:43pm Mar 9, 2009 3:24pm | Edited 3:43pm
Quoting wormboy
Orion : What do you think about dragon? Any opinion?

WB well i have been short since last week at 140.51 with heart set on around 131.50 area. but my patients waivering, since YEN is being a rotten stinker about things, maybe that is all part of their ploy, So if cable strengthens like i have hopes but yen remains in a coma those hopes are garabage.
cpl charts daily and 4h with sup/res area's

its definately becoming weaker as we roll on, and maintaing the lo's on pretty good volume for the day so far, Lack of buyers wanitng to step in front of it so maybe just maybe we can get a nice impulse drive to sure up the dream

Then again if you look inwards 15m the sellers seem like they are being forced to exhasution at least for this round of offer, tomorrow is another day though, ALL IN ALL i think we have to be sellers on rally exhaustion
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"Millionaires don't use astrology, billionaires do"
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