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Cable Update (GBPUSD)

  • #11,041
  • Apr 22, 2007 11:02pm Apr 22, 2007 11:02pm
Quoting wshhmm
lost direction?
Looks like a simetric triangle to me. Is this means continuation of a trend??
Anyone??
  • #11,042
  • Apr 22, 2007 11:12pm Apr 22, 2007 11:12pm
Quoting dd33
Looks like a simetric triangle to me. Is this means continuation of a trend??
Anyone??
Seriously if it were that obvious and easy i would tell you. hahaha. you really think price would really care if it makes a symetric triangle or a super sma cross or mma rainbow folding to tell you where its going. I owuld have traded a hundred lots for that kind of info man. hehehe.
  • #11,043
  • Apr 22, 2007 11:24pm Apr 22, 2007 11:24pm
Quoting jest1081
Seriously if it were that obvious and easy i would tell you. hahaha. you really think price would really care if it makes a symetric triangle or a super sma cross or mma rainbow folding to tell you where its going. I owuld have traded a hundred lots for that kind of info man. hehehe.
hahahaa.. u r absolutely rite bro. But at least the price would go some direction if it has reach a breakthrough. The problem is.. which direction??
  • #11,044
  • Apr 22, 2007 11:27pm Apr 22, 2007 11:27pm
to the right.... 100% u wun be wrong. (my senseis favorite verse, till i got tired of asking)
  • #11,045
  • Apr 22, 2007 11:36pm Apr 22, 2007 11:36pm
Hahahaha.. then i must revise my question.. which direction? upper right or lower right?? hahahaha.. waiting for the M4 Money Supply release may be?? Something to trigger the movement?
  • #11,046
  • Apr 22, 2007 11:37pm Apr 22, 2007 11:37pm
Im trying a long if price reaches 1.9995 area
  • #11,047
  • Apr 22, 2007 11:40pm Apr 22, 2007 11:40pm
Quoting forexnovice
High 2.0068 low 1.9991 on 15 min charts

Price just hit 78.6 fibo @ 2.0051

Currently short frm 2.0045 TP 2.0010 SL nil
Short frm friday closed just now. A buylimit @ 2.0000 4 now
  • #11,048
  • Apr 22, 2007 11:45pm Apr 22, 2007 11:45pm
$2 broken again
  • #11,049
  • Apr 22, 2007 11:51pm Apr 22, 2007 11:51pm
Quoting forexnovice
Short frm friday closed just now. A buylimit @ 2.0000 4 now
Stopped out 4 -15pips . Currently long frm 1.9975 TP 2.0005 SL nil
  • #11,050
  • Apr 22, 2007 11:53pm Apr 22, 2007 11:53pm
Short-term short is my call...trade with the trend!
CSizzler***
  • #11,051
  • Apr 23, 2007 12:08am Apr 23, 2007 12:08am
anyone knows the stops (or support) below 2?
  • #11,052
  • Apr 23, 2007 12:11am Apr 23, 2007 12:11am
There was one at about 1.9985 or so, from there try 1.9930 and 1.9990.
  • #11,053
  • Apr 23, 2007 12:14am Apr 23, 2007 12:14am
Quoting seraph
There was one at about 1.9985 or so, from there try 1.9930 and 1.9990.
there was a brief moment when it punched through down 1.9980 twice on M15 charts. but it quickly climbed back up..

2 attempts.

3rd attempt will be a break or bounce back to 2.0000++
  • #11,054
  • Apr 23, 2007 12:16am Apr 23, 2007 12:16am
IMO supported by 38.2 fibo retracement at .9980. Already 2nd attempt to break atm. If break then try 23.6 at .9940.
  • #11,055
  • Apr 23, 2007 12:23am Apr 23, 2007 12:23am
This was reported earlier:

Quote
[06:32 GBP/USD: Weighed Down by E&Y Item Club Spring Forecast] London, April 23.
Cable has dropped through the base of today"s 2.0020-2.0064 Asian session range
in early European trade, as the continent absorbs the Ernst & Young Item Club
warning that the UK economy is "skating on thin ice" (BBC website). The Item
Club"s Spring forecast says Britons are "overly relaxed about risk" and are
"spending as if it was going out of fashion".
Sterling support points include 2.0000 and 1.9980/90. An estimated GBP 300mn
2.0000 option strike rolls off at today"s 14:00GMT NY cut. Bids are tipped at
1.9985/90, with some sell stops touted below 1.9980. Offers are noted at
2.0070/75, 2.0100 and 2.0135--a pip ahead of last Wednesday"s 26-year high.
Writing in today"s Times, Anatole Kaletsky opines that "there could be a
strong case for the BoE MPC to show that it means business by lifting the base
rate by 50bp to 5.75% next month". Kaletsky says the risk of a GBP/USD rise to
2.20-2.50 is the only argument against a 50bp hike on May 10.
UK money supply data is due at 08:30GMT. [email protected]



[IFR Forex Watch]
[SQUAWK BOX]
3rd attempt underway but seems to be pushed back up again..

.
.
.

3rd attempt failed.
  • #11,056
  • Apr 23, 2007 12:33am Apr 23, 2007 12:33am
Quoting forexnovice
Stopped out 4 -15pips . Currently long frm 1.9975 TP 2.0005 SL nil
Closed long with loss covered & money in the bank. Short Limit @ 2.0020 TP 2.0000 SL nil
  • #11,057
  • Apr 23, 2007 12:36am Apr 23, 2007 12:36am
Quoting forexnovice
Closed long with loss covered & money in the bank. Short Limit @ 2.0020 TP 2.0000 SL nil
Edit-Short limit increased 2 2.0024 (78.6 fibo of todays downwards movement frm 2.0038-1.9973)
  • #11,058
  • Apr 23, 2007 1:32am Apr 23, 2007 1:32am
So quiet in the forum today? Wheres those guys from europe session?
  • #11,059
  • Apr 23, 2007 1:49am Apr 23, 2007 1:49am
Bit like cable being a bit quiet. No economic news today.

Im placing a sell order at 2.0015 and a buy at 1.9980 with tight stops and for small targets
  • #11,060
  • Apr 23, 2007 1:54am Apr 23, 2007 1:54am
Quoting PandoraBox
Do you have any data could support your comment cesarns?

From my chart, cable start to coming down.
I was running my scenarios only. Staying "bullish" doesn't mean Cable will always go up. It means that, in case it comes down, I buy dip, I don't short it.

The only techs I'm running are fib 9902-00131 and trendlines...
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