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Cable Update (GBPUSD)

  • #126,401
  • Mar 13, 2009 5:27am Mar 13, 2009 5:27am
Quoting alcando
Just a fundamental money flow spin to add to your thoughts that I found interesting:

Japan is one of the largest holders of foreign debt (18% of UST's )and purchase of them increases money flow out of the yen so devaluing the currency.

With the UK Gilt auction this week, the settlement date /time is 10:30 UK today for a large amount of £4.35B. This ties in quite well with the timing and flow of monies we have seen this morning but does imply that we may see the upper limit by 10.30. I will wait till after then for a short position on Geppy...
thanks for the information, and how about the possible rally of US stocks today, can it support cable?
  • #126,402
  • Mar 13, 2009 5:28am Mar 13, 2009 5:28am
On my charts I have the next major zone of resistance centered around 1.4082, which is the intra-week 76.4% retracement level, and is supported by the 138.2% Fibo extension of yesterday's push.

Should it close above this, it will also have broken out of the 4H Bearish Channel, and is likely carry on to 1.4120, 1.4200, 1.4250, provided that it is backed by sound fundamental support.
  • #126,403
  • Mar 13, 2009 5:29am Mar 13, 2009 5:29am
Dunno, I think the $ will be strong during US morning as a result of the neccessary money flow. Technical PA needs to back it tho.


Quoting leu02cz
thanks for the information, and how about the possible rally of US stocks today, can it support cable?
Ride the Bulls bearback!
  • #126,404
  • Mar 13, 2009 5:29am Mar 13, 2009 5:29am
You are right about the 1.4087 area for continuation to 1.4320 upper TL..


Good luck..




Quoting deboooo2005
helllo

the cable must broke 1.4087 to continue go up or it will fall again
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[
  • #126,405
  • Mar 13, 2009 5:34am Mar 13, 2009 5:34am
Quoting alcando
Dunno, I think the $ will be strong during US morning as a result of the neccessary money flow. Technical PA needs to back it tho.
thanks!

I opened a short possition at 14043
  • #126,406
  • Mar 13, 2009 5:46am Mar 13, 2009 5:46am
Nice. Me too.

Quoting leu02cz
thanks!

I opened a short possition at 14043
Ride the Bulls bearback!
  • #126,407
  • Mar 13, 2009 5:48am Mar 13, 2009 5:48am
short!
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  • #126,408
  • Mar 13, 2009 5:59am Mar 13, 2009 5:59am
Quoting barnaba
short!
When you using 4H chart you should also look the the complete view of the chart,
check this one,
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  • #126,409
  • Mar 13, 2009 6:12am Mar 13, 2009 6:12am
Why are you guys shorting so early? Why not wait and see if it is going to retest the top of 4078 and just catch it on the way back down.
Going to make it big by age 21.
  • #126,410
  • Mar 13, 2009 6:13am Mar 13, 2009 6:13am
Quoting alcando
Nice. Me too.
i'm short too but a little worried coz the price like don't want to down
what is your TP pipland ?
  • #126,411
  • Edited 6:48am Mar 13, 2009 6:13am | Edited 6:48am
ok now i see why the crazy rally in stocks and cable continues - today is friday the 13th. bloody hell.
  • #126,412
  • Mar 13, 2009 6:18am Mar 13, 2009 6:18am
my view... SHe still not completed bullish...

Need break from Monthly HLC -1 to Daily HLC +2.

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  • #126,413
  • Mar 13, 2009 6:18am Mar 13, 2009 6:18am
Quoting agent_smith
ok now i see why the crazy rally in stocks and cable continues - today is friday the 13th. boody ell.
last one was in last month. I lost a lot on that day.
  • #126,414
  • Mar 13, 2009 6:22am Mar 13, 2009 6:22am
Yes, It does look like there may still be some bulls in the market and not much signs of the bears yet.. We may still see some buying on bullish action. The time to settlement of the UST auction is still some way off.


Quoting dashboard
i'm short too but a little worried coz the price like don't want to down
what is your TP pipland ?
Ride the Bulls bearback!
  • #126,415
  • Mar 13, 2009 6:24am Mar 13, 2009 6:24am
Quoting dstryr
Why are you guys shorting so early? Why not wait and see if it is going to retest the top of 4078 and just catch it on the way back down.
Just a guess here but I suppose for the same reason I went short at 4065 and closed at 4010. Scalping a quick 55 pips in an uncertain world is always a good thing...http://www.forexfactory.com/images/icons/icon7.gif

Now long at 4012
Ghost Rider - WWTBMD?
  • #126,416
  • Mar 13, 2009 6:26am Mar 13, 2009 6:26am
Quoting leu02cz
last one was in last month. I lost a lot on that day.
i just checked my records - took me 1 week to recover losses from last friday 13 in feb. bloody hell indeed.

and what do we see today - news are horrible (canadian employment data much worse then expected) - and what spx futures do - they rally like crazy again. unexplainable.
  • #126,417
  • Mar 13, 2009 6:34am Mar 13, 2009 6:34am
On my daily chart I received a BUY signal from the Parabolic SAR. I know the Parabolic SAR signal is not always a 100% but as you can see from the chart that the last 3 times a signal like that has appeared we can see that there was much bull action that had followed..

So there may be some more steam ahead for the bulls. Probably to the 1.4152 Daily Pivot resistance point
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_______________ Say Good-bye to Buy-and-Hold
  • #126,418
  • Mar 13, 2009 6:34am Mar 13, 2009 6:34am
The higher than expected CAD unemployment figures have to be paired against the upbeat ride that equity markets are experiencing, the higher price of oil, not to mention that commodity prices have been appreciating of late also.

Edit: speeling mistake.
  • #126,419
  • Mar 13, 2009 6:36am Mar 13, 2009 6:36am
Quoting albchr
Just a guess here but I suppose for the same reason I went short at 4065 and closed at 4010. Scalping a quick 55 pips in an uncertain world is always a good thing...http://www.forexfactory.com/images/icons/icon7.gif

Now long at 4012
not long yet, we can see down for a moment maybe for 20-50pips
  • #126,420
  • Mar 13, 2009 6:39am Mar 13, 2009 6:39am
Quoting dashboard
not long yet, we can see down for a moment maybe for 20-50pips
Its interesting seeing the views here.. it is about 50/50 where some say LONG.. others say SHORT... its got me all confused. LoL
_______________ Say Good-bye to Buy-and-Hold
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