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Cable Update (GBPUSD)

  • #10,841
  • Apr 19, 2007 8:45pm Apr 19, 2007 8:45pm
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
I don't think the bull will make a further upside run. There are too many resistance points blocking the way. After the UK Retail Sales data is released, cable will most probably make some gains before retreating below the 2.0 mark again. The start of next week's session would see further retracement downwards.
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #10,842
  • Apr 19, 2007 8:47pm Apr 19, 2007 8:47pm
Yeah I do see that and the 2.0035 resistance is tough, it may run back down a bit.
  • #10,843
  • Apr 19, 2007 8:50pm Apr 19, 2007 8:50pm
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Quoting Rosco_P
Yeah I do see that and the 2.0035 resistance is tough, it may run back down a bit.
It's been that way since 6.30am EST. Cable is being squeezed from up & down directions. It's really hard to say...
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #10,844
  • Apr 19, 2007 9:01pm Apr 19, 2007 9:01pm
Quoting cesarnc
http://masterforex.co.uk/Html/FXStation/FXToolz.html

Click Live Market Commentary - left menu
This is a direct link to that: http://news.efxnow.com/en/commentary/index.html
  • #10,845
  • Apr 19, 2007 9:59pm Apr 19, 2007 9:59pm
Morning everyone.. yesterday was a bad day to trade.. really hard to figure out everything. And got beat up on GJ. Lost my calmness n barely make it out alive.
Looks like today still gonna be a hard day to trade. Cable still can decide where to go. Just moving sideways on the 50.0 n 61.8 fibo channel.
  • #10,846
  • Apr 19, 2007 11:31pm Apr 19, 2007 11:31pm
Quoting Why Oh Why
3 long O/S at 2.0005. Just want some profit today. And that's it from me today. Back in 12 hours.
2 long O/S at 2.0005.
Do not focus on making money; focus on protecting what you have.
  • #10,847
  • Apr 19, 2007 11:44pm Apr 19, 2007 11:44pm
Hai.. first of all i introduce my self..
im new to this forum but i like to share some of my point of view from GBP/USD..
This forum is great..

Anyway i like to share some of my forecast for Gbp
Today, April 20th'07

Sell at 2.0070
TP at 1.9970
SL at 2.0100

Potential Bulish Reversal : Sell 2.0150 TP 2.0030 SL 2.0180
Potential Bearish Reversal: Buy 1.9890 TP 1.9930 SL 1.9850

Im Really Sorry if im not being polite for my sugestion, is it oke for me to post some of my prediction here? if not im really sorry..
Thank you..
  • #10,848
  • Apr 19, 2007 11:46pm Apr 19, 2007 11:46pm
Quoting cesarnc
Buying orders at 2.0000 by a Swiss name will provide support and selling orders at 2.0070 by a US Prime will limit the topside.

so we will have the range for few days, or weeks or months?
  • #10,849
  • Apr 19, 2007 11:47pm Apr 19, 2007 11:47pm
Quoting NineRs
Hai.. first of all i introduce my self..
im new to this forum but i like to share some of my point of view from GBP/USD..
This forum is great..

Anyway i like to share some of my forecast for Gbp
Today, April 20th'07

Sell at 2.0070
TP at 1.9970
SL at 2.0100

Potential Bulish Reversal : Sell 2.0150 TP 2.0030 SL 2.0180
Potential Bearish Reversal: Buy 1.9890 TP 1.9930 SL 1.9850

Im Really Sorry if im not being polite for my sugestion, is it oke for me to post some of my prediction here? if not im really sorry..
Thank you..
sure good.
  • #10,850
  • Apr 19, 2007 11:49pm Apr 19, 2007 11:49pm
Quoting CWH
It's been that way since 6.30am EST. Cable is being squeezed from up & down directions. It's really hard to say...
how are you?

it is so boring for cable now. how long can it last? lost patience.
  • #10,851
  • Apr 19, 2007 11:58pm Apr 19, 2007 11:58pm
Quoting NineRs
Hai.. first of all i introduce my self..
im new to this forum but i like to share some of my point of view from GBP/USD.. Im Really Sorry if im not being polite for my sugestion, is it oke for me to post some of my prediction here? if not im really sorry.. Thank you..
And welcome to FF. Nice first post. All input welcome. Everyone's got a view and that's what a forum is all about.
Do not focus on making money; focus on protecting what you have.
  • #10,852
  • Apr 20, 2007 12:11am Apr 20, 2007 12:11am
well, today when I woke up i realized how we all can get fylthy rich, well man, all we have to do is to find time machine. I suppose we could pick one man from our community with highest morale and give him laptop with wirles, and send him to, well lets say 2008 april, all he have to do is copy charts and back to our time. And we all swim in money.Thats it, very simple, only thing is, where to find time machine.
  • #10,853
  • Apr 20, 2007 12:40am Apr 20, 2007 12:40am
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Quoting wshhmm
how are you? it is so boring for cable now. how long can it last? lost patience.
I'm fine.. Can't talk to you now.. having lunch..
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #10,854
  • Apr 20, 2007 12:45am Apr 20, 2007 12:45am
Quoting dd33
Can explain where u got that conclusion?? On my H4 chart, cable has already break through 61.8 retracement and heading to 50 on 2.0010. Seems like it will test 2.0 today.

I go short from .025. TP 2.0.

The bear is not knocking the door again. He's "banging" the door.
He may be knocking but he can't come in!!
Hi,sorry not to reply sooner but it was so slow yesterday I went gardening. The double bottom was a bit premature but the trend line held and it's been creeping up it all night.
My prediction was based on Oanda calendar stating retail sales was due out 9,30am [bst] yesterday but it appears FF was right and it's today so IF it comes in as or better than expected I expect a similar rise today, £ is not going to drop below $2 anytime soon. Watch for profit taking this afternoon - it's Friday. If it drops to trend line and it holds watch for rapid retracement - we may still be bullish next week
www.chartpatterns.com is a useful site to view - what we've seen over the last 2 days looks like a bull flag or pennant
May reach 2.0200!! but trade what you see

monny a mickle macks a muckle
  • #10,855
  • Apr 20, 2007 12:51am Apr 20, 2007 12:51am
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Quoting coshbrewer
He may be knocking but he can't come in!!
Hi,sorry not to reply sooner but it was so slow yesterday I went gardening. The double bottom was a bit premature but the trend line held and it's been creeping up it all night.
My prediction was based on Oanda calendar stating retail sales was due out 9,30am [bst] yesterday but it appears FF was right and it's today so IF it comes in as or better than expected I expect a similar rise today, £ is not going to drop below $2 anytime soon. Watch for profit taking this afternoon - it's Friday. If it drops to trend line and it holds watch for rapid retracement - we may still be bullish next week
www.chartpatterns.com is a useful site to view - what we've seen over the last 2 days looks like a bull flag or pennant
May reach 2.0200!! but trade what you see
monny a mickle macks a muckle
What happen if it's worse than expected?
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #10,856
  • Apr 20, 2007 1:02am Apr 20, 2007 1:02am
Quoting coshbrewer
He may be knocking but he can't come in!!
Hi,sorry not to reply sooner but it was so slow yesterday I went gardening. The double bottom was a bit premature but the trend line held and it's been creeping up it all night.
My prediction was based on Oanda calendar stating retail sales was due out 9,30am [bst] yesterday but it appears FF was right and it's today so IF it comes in as or better than expected I expect a similar rise today, £ is not going to drop below $2 anytime soon. Watch for profit taking this afternoon - it's Friday. If it drops to trend line and it holds watch for rapid retracement - we may still be bullish next week
www.chartpatterns.com is a useful site to view - what we've seen over the last 2 days looks like a bull flag or pennant
May reach 2.0200!! but trade what you see

monny a mickle macks a muckle
Where do u see the flag?? All i see is cable swimming inside the fibo channel.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.jpg Size: 67 KB
  • #10,857
  • Apr 20, 2007 1:04am Apr 20, 2007 1:04am
Quoting CWH
What happen if it's worse than expected?
It Will drop but if it's above 200 ema on 5 minute chart at time of announcement only as far as the 200 then still continue north but not as fast
But remember inflation in UK at record levels [recent history only] wage inflation higherthan expected the money has to go somewhere there has been some reduction in credit card bills but I expect a lot has gone into shopping.

monyy a mickle macks a muckle
  • #10,858
  • Apr 20, 2007 1:07am Apr 20, 2007 1:07am
Quoting dd33
Where do u see the flag?? All i see is cable swimming inside the fibo channel.
Sorry don't know how to post charts but if you look back through the thread around the time of our last posts someone had put a perfect example of what I was talking about with an arrow on it pointing North

monny a mickle macks a muckle
  • #10,859
  • Apr 20, 2007 1:15am Apr 20, 2007 1:15am
Quoting coshbrewer
Sorry don't know how to post charts but if you look back through the thread around the time of our last posts someone had put a perfect example of what I was talking about with an arrow on it pointing North

monny a mickle macks a muckle
I thought that one was before cable breach .0040 support level n fall swimming in the channel. If cable bounced back on .0040 support then it sure is a confirmed DB.

But now after it breached through and .0040 become resistance. All i see is that a possibility of forming an ascending triangle inside the channel if cable keep bounced back above of 62 sma. Confirmed when cable breached above .0040 resistance.

Anyone see other pattern??

Btw to attach chart, u need to save ur chart as jpg or other pic format file. Then when u reply a message, scroll down and on additional options u can see a manage attachments button. attached ur chart file there.
  • #10,860
  • Apr 20, 2007 1:17am Apr 20, 2007 1:17am
Darn it, the train left the station without me....too busy reading all the overnight posts!
Looks like the Euro“s breakout to new highs has put some life into the markets
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