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Cable Update (GBPUSD)

  • #155,901
  • Aug 6, 2009 12:22pm Aug 6, 2009 12:22pm
  •  penang
  • | Joined Aug 2009 | Status: Read my lips...Money Management | 15 Posts
seems lots of ex-British residents on this thread..I lived in Ilford, East London and came to Canada over 15 years ago, owned two houses at that time and prices skyrocketed 2 years after I left and even with the recent meltdown, prices are still double what I sold them for.....

Seems temporary support at 1.6750 at the moment but may break below going into the North American close in just over 2 hours...traders locking in recent profits before Non Farm data tomorrow.
  • #155,902
  • Aug 6, 2009 12:23pm Aug 6, 2009 12:23pm
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
remember what these guys did before shooting 500 pips from last week.
Made sure everyone thinks price is going down and what we saw...500 pips move up...bulls ain't gonna give up after buying on 170....

this number tomorrow is imp, but it will not have much effect other than 200-300 odd pips...

I would love to see price at 66..to shrug some of my shorts but I know it's tough to get there.



Quoting GlobalMacro
funnymentals speaking which 2moro NFP is known for surprises and violent moves
so some pple may have taken the QE stuff 2day to hedge for that event....
  • #155,903
  • Aug 6, 2009 12:31pm Aug 6, 2009 12:31pm
Quoting ams
remember what these guys did before shooting 500 pips from last week.
Made sure everyone thinks price is going down and what we saw...500 pips move up...bulls ain't gonna give up after buying on 170....

this number tomorrow is imp, but it will not have much effect other than 200-300 odd pips...

I would love to see price at 66..to shrug some of my shorts but I know it's tough to get there.
exactly...also don't forget there is a ko option residing somewhere around the 1.7070 level which was masterfully defended yesterday and if looked at the daily it looks so stretched that if it stretches some more it might just rip apart...and we know the big bad you know what doesn't want that...so just teasing the kids around before the big game and scaring them into selling and then saying gotcha...:-)
Hear the music before the song is over ...
  • #155,904
  • Aug 6, 2009 12:41pm Aug 6, 2009 12:41pm
yes Azim but some are better than others lol ,i mean your a good guesser for def


Quoting wormboy

Like I said yesterday, everybody guesses. Busted!
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #155,905
  • Aug 6, 2009 12:43pm Aug 6, 2009 12:43pm
Quoting Bones
yes Azim but some are better than others lol ,i mean your a good guesser for def
Hi Tony, how you doing buddy?
Missing your analysis around here...always enjoy them...
Hear the music before the song is over ...
  • #155,906
  • Aug 6, 2009 12:43pm Aug 6, 2009 12:43pm
Quoting djambazov84
on a side note I think that the daily bearish divergence has just started to play out
yup, does look like the harami cross we had a few days back is playing out as well. Here's what the current halfday chart looks like. Previous candle just closed not too long ago on my chart & it does look like there'll possibly be a bit more selling. Support shows why I said 6700. I'll wait till price gets there before considering buying, again it depends on pa once we get to that level.

We'll see
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Thank You
  • #155,907
  • Aug 6, 2009 12:49pm Aug 6, 2009 12:49pm
Quoting Bones
yes Azim but some are better than others lol ,i mean your a good guesser for def
I'm a lucky guesser, like malcolm! lol
How's it going tone, you enjoying sunny spain, got yer "tone" yet?
Thank You
  • #155,908
  • Aug 6, 2009 12:58pm Aug 6, 2009 12:58pm
Those loading longs at 6750 area better have deep pockets.
  • #155,909
  • Aug 6, 2009 1:00pm Aug 6, 2009 1:00pm
Quoting malcolmb14
I like buying bottom ... but when doing that Amsterdam and women are involved ...lol
reminds me of Michael Jackson looking in the plastic surgeon's window and picking his nose

ok cable time to move up - then I am off to walmart to fight my way through the massed ranks of monster bottoms and tattooed shoulders

Today is a day of struggling with bottoms
  • #155,910
  • Aug 6, 2009 1:02pm Aug 6, 2009 1:02pm
  •  penang
  • | Joined Aug 2009 | Status: Read my lips...Money Management | 15 Posts
Quoting direct-trade
Those loading longs at 6750 area better have deep pockets.

http://www.forexfactory.com/images/icons/icon14.gif
  • #155,911
  • Aug 6, 2009 1:07pm Aug 6, 2009 1:07pm
ES looks like ... hey lets push it down to trap all the bears .. make it look like 1000 is resistance. They will think NFP is no good due to ADP then tomorrow we give it to them good as NFP is better than expected. ....
Blogging daily now at www.volume.zone
  • #155,912
  • Aug 6, 2009 1:09pm Aug 6, 2009 1:09pm
Quoting direct-trade
Those loading longs at 6750 area better have deep pockets.
hold ur word fundies ... techies gonna buy
Verily, in every difficulties there is relief
  • #155,913
  • Aug 6, 2009 1:09pm Aug 6, 2009 1:09pm
this is just dollar being propped up a bit before the feast....
dollar now trading @ 78.132 +0.72%
Hear the music before the song is over ...
  • #155,914
  • Aug 6, 2009 1:16pm Aug 6, 2009 1:16pm
Quoting primzvicious
hold ur word fundies ... techies gonna buy
Fundie? Not me, buying? Not me lol
  • #155,915
  • Aug 6, 2009 1:17pm Aug 6, 2009 1:17pm
Quoting direct-trade
Those loading longs at 6750 area better have deep pockets.
Plz guide me can we sell yen here what should be TP and SL
  • #155,916
  • Aug 6, 2009 1:18pm Aug 6, 2009 1:18pm
  •  penang
  • | Joined Aug 2009 | Status: Read my lips...Money Management | 15 Posts
S&P / DJIA have tended to rally into the close of the session for the past few days; should that trend continue, cable may pop a bit; the fly in the ointment is that NFP is due tomorrow and expected to be better than estimates (good for cable)...1.6750 still solid support. Will it hold or would traders sell stocks taking cable with it towards 1.67?
  • #155,917
  • Aug 6, 2009 1:22pm Aug 6, 2009 1:22pm
Quoting KillPhil08
Thererehrher
Nice one Phil
every Saint has a past. Every Sinner has a Future
  • #155,918
  • Aug 6, 2009 1:22pm Aug 6, 2009 1:22pm
Quoting Fx1618
If this 1hr candle holds,
R1 @ 1.675*
R2 @ 1.670*
R3 @ 1.5.5*

Unfortunately I only took 50 on my Breakout, will have to wait for the top of the hour
Quoting Fx1618
My trend is broken, I'm Short again
Next up 1.6700.
  • #155,919
  • Aug 6, 2009 1:23pm Aug 6, 2009 1:23pm
  •  penang
  • | Joined Aug 2009 | Status: Read my lips...Money Management | 15 Posts
Quoting pakitrader
Plz guide me can we sell yen here what should be TP and SL
I would watch the S&P / DJIA for guidance,,,,,strong correlation atm
  • #155,920
  • Aug 6, 2009 1:25pm Aug 6, 2009 1:25pm
Quoting malcolmb14
ES looks like ... hey lets push it down to trap all the bears .. make it look like 1000 is resistance. They will think NFP is no good due to ADP then tomorrow we give it to them good as NFP is better than expected. ....
and how good they are gonna give it to them...
you know what never ceases to amaze me those pundits on tv talk about how fast the markets running up and overbought and all that and when a day like this comes along when stocks are selling at a discount everybody starts to panic again....hmmm...
Hear the music before the song is over ...
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