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Cable Update (GBPUSD)

  • #127,061
  • Mar 18, 2009 10:17am Mar 18, 2009 10:17am
Quoting Abuawad
till now i don't see any reason for not breaking that level. thats why i still holding my shorts
Misstypo? 1.3950/1.3850?!?
Those level are broken in both way already!

maby something i don't understand...

-----------------

H&S on 5/15 min... neck line at 1.3962
  • #127,062
  • Mar 18, 2009 10:31am Mar 18, 2009 10:31am
We mean a 4 H and daily close down it man
What is your view now???



Quoting Inzider
Misstypo? 1.3950/1.3850?!?
Those level are broken in both way already!

maby something i don't understand...

-----------------

H&S on 5/15 min... neck line at 1.3962
  • #127,063
  • Mar 18, 2009 10:35am Mar 18, 2009 10:35am
Quoting mohfaid
We mean a 4 H and daily close down it man
What is your view now???
Thx alot for clarification!

__________________________

Waiting for 1.3962 to be broken then going to next fibs level 1.3917
= -0.27 of yesterday low.

We should close around 1.3930 if we don't get over 1.4009 again.
Just beware, a 3 wave pattern could be in play over 1h.
D point would be at 1.3843....
http://www.harmonictrader.com/3drivesbullre.jpg
  • #127,064
  • Mar 18, 2009 10:35am Mar 18, 2009 10:35am
a tough nut to crack 1.3960
  • #127,065
  • Mar 18, 2009 10:36am Mar 18, 2009 10:36am
May I ask someone to please explain to a novice what is the reasoning behind the huge spike upwards when data was in favor of dollar during usa open ? I see few pin bars now. Does it convey market getting ready to plunge down again. Please enlighten.

Thanks.
A Candle loses nothing by lighting another
  • #127,066
  • Mar 18, 2009 10:37am Mar 18, 2009 10:37am
Quoting shiva
a tough nut to crack 1.3960
Ohhh yes.
Once it does - 1,3920 will come shortly
  • #127,067
  • Mar 18, 2009 10:38am Mar 18, 2009 10:38am
My guess is the news release was already factored into the spike.
Quoting muthusai2000
May I ask someone to please explain to a novice what is the reasoning behind the huge spike upwards when data was in favor of dollar during usa open ? I see few pin bars now. Does it convey market getting ready to plunge down again. Please enlighten.

Thanks.
  • #127,068
  • Mar 18, 2009 10:40am Mar 18, 2009 10:40am
GBP-USD is realy winding up on 1H chart
EUR-USD is trigering GBP to go bear to
  • #127,069
  • Mar 18, 2009 10:41am Mar 18, 2009 10:41am
Quoting shiva
a tough nut to crack 1.3960
Yesterday low!
Whit S1 just under it and 50 % fibs of last move down!
  • #127,070
  • Mar 18, 2009 10:42am Mar 18, 2009 10:42am
This Fib Van level still strong one to break it... lets see...
Attached Image (click to enlarge)
Click to Enlarge Name: fibo van level.gif Size: 23 KB
  • #127,071
  • Mar 18, 2009 10:42am Mar 18, 2009 10:42am
Dear Man

the whole world face a financial cirsis,,,and the world now think that USA get faster steps to solve this than the others,,,so any news Bad for USA means that we still in bad situation,,,so they Buy Dollars as it is the lowest in the inreset rate now ( 0.25 ),, and any good news for USD means that Europe and UK will follow with good also,,so they buy Euro and Sterling

I hope it is clear now



Quoting muthusai2000
May I ask someone to please explain to a novice what is the reasoning behind the huge spike upwards when data was in favor of dollar during usa open ? I see few pin bars now. Does it convey market getting ready to plunge down again. Please enlighten.

Thanks.
  • #127,072
  • Mar 18, 2009 10:44am Mar 18, 2009 10:44am
Quoting muthusai2000
May I ask someone to please explain to a novice what is the reasoning behind the huge spike upwards when data was in favor of dollar during usa open ? I see few pin bars now. Does it convey market getting ready to plunge down again. Please enlighten.

Thanks.
Positive US CPI and Current Account Balance data accounts for the upward spike, or at least, its continuation from 12:30 GMT onwards.

Next major announcement is the Fed Rate decision at 18:15 GMT
  • #127,073
  • Mar 18, 2009 10:45am Mar 18, 2009 10:45am
Quoting muthusai2000
May I ask someone to please explain to a novice what is the reasoning behind the huge spike upwards when data was in favor of dollar during usa open ? I see few pin bars now. Does it convey market getting ready to plunge down again. Please enlighten.

Thanks.
News. Don't get suckered in going long too early. Still points down.
Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: CABLE4.JPG Size: 92 KB
Thank You
  • #127,074
  • Mar 18, 2009 10:51am Mar 18, 2009 10:51am
Quoting wormboy
News. Don't get suckered in going long too early. Still points down.
Good luck.
Good view, i like the people whom are using the long view for the short time.
  • #127,075
  • Mar 18, 2009 10:53am Mar 18, 2009 10:53am
Quoting Abuawad
Good view, i like the people whom are using the long view for the short time.
Thank You
  • #127,076
  • Mar 18, 2009 10:55am Mar 18, 2009 10:55am
  • #127,077
  • Mar 18, 2009 10:55am Mar 18, 2009 10:55am
Quoting shiva
My guess is the news release was already factored into the spike.
Thanks Shiva. When data was not good for pound three hours before usa open it behaved the way it should. However, when data was good for dollar it goes exact opposite way. No wonder it is Wild Wild forex
A Candle loses nothing by lighting another
  • #127,078
  • Mar 18, 2009 11:03am Mar 18, 2009 11:03am
Abu, Mohfaid, Tradingweels, Wormboy, Shiva ...Thank you all for your explanations. Humbly appreciated.

Muthu.
A Candle loses nothing by lighting another
  • #127,079
  • Mar 18, 2009 11:05am Mar 18, 2009 11:05am
You're welcome sir
Thank You
  • #127,080
  • Mar 18, 2009 11:08am Mar 18, 2009 11:08am
Quoting Abuawad
Good view, i like the people whom are using the long view for the short time.
otherwise known as 'the trend is your friend'

Dow improving

Miners/oil/drillers are dead
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