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Cable Update (GBPUSD)

  • #10,121
  • Apr 10, 2007 7:50am Apr 10, 2007 7:50am
Quoting HonaForex
I think we will see 768/80 area............................My Opion

Wave 1 complete

Wave 2 Complete

Wave 3 complete ( Elongated & Elongated)

Wave 4 In Process.................

Wave 4A Complete

Wave 4B in process.............target 760/80 ..............

Wave 4C will be next...................target 515/500


...........................I m not allways wrong in unfolding the waves in this uncertianity market condiation


SHIVAJI
Is that 515 a few days from now? IYO how soon could we see that?
  • #10,122
  • Apr 10, 2007 9:13am Apr 10, 2007 9:13am
Comments from Fed's Mishkin: SAYS IF INFLATION DOESN'T MODERATE, FED MUST ACT, SAYS INFLATION IS LIKELY TO MODERATE, SAYS INFLATION IS `HIGHER THAN I WOULD LIKE TO SEE', SAYS FOREIGN EXCHANGE RATE IS A `KEY ASSET PRICE', FED SHOULD CARE ABOUT ASSET PRICES, INCLUDING DOLLAR
Its My Way,, U dont have to follow
  • #10,123
  • Apr 10, 2007 9:28am Apr 10, 2007 9:28am
Quoting Plutonite

Yes, somebody owes us dinnner I believe,
I think 197 pips mistake is good enough...

hummmm feeling so hungry...

  • #10,124
  • Apr 10, 2007 9:46am Apr 10, 2007 9:46am
Wait until Thursday !!! If price does not come down to hit 62 ema on daily charts, I will start buyin happy meals !!!
  • #10,125
  • Apr 10, 2007 9:46am Apr 10, 2007 9:46am
Quoting cesarnc
I think 197 pips mistake is good enough...

hummmm feeling so hungry...


I agree if you could make a mistake like that everyday you would be on top of the world. I admire your insights and your patience.
  • #10,126
  • Apr 10, 2007 9:59am Apr 10, 2007 9:59am
Quoting pwegner
I agree if you could make a mistake like that everyday you would be on top of the world. I admire your insights and your patience.

u damn rite
Its My Way,, U dont have to follow
  • #10,127
  • Apr 10, 2007 10:17am Apr 10, 2007 10:17am
I am a bit speechless today http://www.forexfactory.com/images/icons/icon9.gif But I think the run is over. It is in retracement which is tradable. Hopefully the knee jerk run is been realized too much ..http://www.forexfactory.com/images/icons/icon8.gif
  • #10,128
  • Apr 10, 2007 1:10pm Apr 10, 2007 1:10pm
Would this be a down trend for GU at 9716? Is a short a smart idea?
  • #10,129
  • Apr 10, 2007 1:34pm Apr 10, 2007 1:34pm
95's soon??
To be or not to be, that's the question
  • #10,130
  • Apr 10, 2007 1:37pm Apr 10, 2007 1:37pm
Quoting hoezhiens
95's soon??
I need 95's in a big way. How soon do you think they could hit?
  • #10,131
  • Apr 10, 2007 2:21pm Apr 10, 2007 2:21pm
Quoting Big P
I need 95's in a big way. How soon do you think they could hit?
Quess you´ll have to wait for Mr Bernanke to answer "how soon". All we´ve got so far is a normal pull back after a nice rally...up 150 or so, now down 45 with a nice round number - 9700 - as support. All the longer term TFs are pointing up....only 5 min down.

Yesterday´s Asian session pushed it up, so I´m out of my short scalps, waiting to see what the the next few hours bring. Trading against the longer term trend is bad for your wealth.
Trading Levels with WRBs
  • #10,132
  • Apr 10, 2007 2:24pm Apr 10, 2007 2:24pm
Quoting Big P
Would this be a down trend for GU at 9716? Is a short a smart idea?
Don't know .. but am still short Cable. Well, please don't only use what others do in making decision. Analysis the trend and indicators. Trading is an art, not a 100% sure thing http://www.forexfactory.com/images/icons/icon9.gif
  • #10,133
  • Apr 10, 2007 2:32pm Apr 10, 2007 2:32pm
Quoting mktjong
Don't know .. but am still short Cable. Well, please don't only use what others do in making decision. Analysis the trend and indicators. Trading is an art, not a 100% sure thing http://www.forexfactory.com/images/icons/icon9.gif
Thanks for the advice. I am still short and so is a very strong manager that I know. I am in because of him. I just like to see others' thoughts and collect opinions.
  • #10,134
  • Apr 10, 2007 2:35pm Apr 10, 2007 2:35pm
Quoting Islander
Quess you´ll have to wait for Mr Bernanke to answer "how soon". All we´ve got so far is a normal pull back after a nice rally...up 150 or so, now down 45 with a nice round number - 9700 - as support. All the longer term TFs are pointing up....only 5 min down.

Yesterday´s Asian session pushed it up, so I´m out of my short scalps, waiting to see what the the next few hours bring. Trading against the longer term trend is bad for your wealth.
Thanks for the reply. I am tempted to go long but my rules tell me to stay short. Not a good feeling in the ole' stomach right now. Let's hope it takes a DIVE!!!!
  • #10,135
  • Apr 10, 2007 2:41pm Apr 10, 2007 2:41pm
Islander,
When you say long term, what does that mean? Days, weeks, months?
  • #10,136
  • Apr 10, 2007 2:45pm Apr 10, 2007 2:45pm
Same goes with me.Still diving.Hope enough oxygen.But watching the price right now as I'm typing feels like choking myself
Start trading everyday with a simple mind, and everything seems very clear!
  • #10,137
  • Edited 3:08pm Apr 10, 2007 2:57pm | Edited 3:08pm
Quoting Tiki Trader
Wait until Thursday !!! If price does not come down to hit 62 ema on daily charts, I will start buyin happy meals !!!
Tiki,

That's why your first statement was so bothering and pissed me off so much. When Cable was at low 96s you just said that it's going to 9550 or lower.
The immediate conclusion was that GU was to sink to 9550, since you didn't mention that it would go 200 pip up before!!!

You only called the Thursday when you saw GU soaring and breaking 9650 so heavily.

The majority of the traders here, incluing me, are trying to learn, so a call as the one you made is really powerful and might lead people here to make wrong decisions.

If we see 9550 on thursday, those following your dreaded 62EMA have had to face a HUUUGEEEE 3-days lasting 197 pips drawdown, which is not something bearable when it comes to intraday trade.

Too good that, at heavy expenses, I learned not to forget my view and jump in other ppl's

The trade yesterday and today was long GU to mid 97s, not shorting GU to mid 95 like you stated.

That's why I asked you what you were based on.

Your view and skills are welcome here as everybody else's. The suggestion here is for you to take a little time to base you call in something that we can rely on, rather then "going to.. or lower"

Something like "failure at 9625 opens the room for 9550 or lower" would spare you from my bothering posts and would save the money you're spending with my meal.
  • #10,138
  • Apr 10, 2007 3:06pm Apr 10, 2007 3:06pm
And last but not least.

Cable just bounced off 9705. With Dow Jones closing positive today, carry trades are favoured, thus GU downside is again in jeopardy.

9820 was last high that cable can yet pursue before sinking to 95s. And the longer cable spends at high levels, the higher becomes the 4hr 250 EMA, that is usually a level that is only busted via heavy economic announcements.

Unless Bernankes says something really, really USD-positive tomorrow, Cable's fate is new highs above 98 to price an expected rate hike before the next BOE statement.

Therefore, I see NO fundamental strong enough to break all the supports now formed at 96s. Not this week.
  • #10,139
  • Apr 10, 2007 3:13pm Apr 10, 2007 3:13pm
Quoting cesarnc
And last but not least.

Cable just bounced off 9705. With Dow Jones closing positive today, carry trades are favoured, thus GU downside is again in jeopardy.

9820 was last high that cable can yet pursue before sinking to 95s. And the longer cable spends at high levels, the higher becomes the 4hr 250 EMA, that is usually a level that is only busted via heavy economic announcements.

Unless Bernankes says something really, really USD-positive tomorrow, Cable's fate is new highs above 98 to price an expected rate hike before the next BOE statement.

Therefore, I see NO fundamental strong enough to break all the supports now formed at 96s. Not this week.
Well said..... Uh oh
  • #10,140
  • Apr 10, 2007 3:14pm Apr 10, 2007 3:14pm
Quoting cesarnc
And last but not least.

Cable just bounced off 9705. With Dow Jones closing positive today, carry trades are favoured, thus GU downside is again in jeopardy.

9820 was last high that cable can yet pursue before sinking to 95s. And the longer cable spends at high levels, the higher becomes the 4hr 250 EMA, that is usually a level that is only busted via heavy economic announcements.

Unless Bernankes says something really, really USD-positive tomorrow, Cable's fate is new highs above 98 to price an expected rate hike before the next BOE statement.

Therefore, I see NO fundamental strong enough to break all the supports now formed at 96s. Not this week.
Does Dow Jones have correlationship with USD?
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