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Cable Update (GBPUSD)

  • #163,941
  • Sep 7, 2009 9:18am Sep 7, 2009 9:18am
Quoting maurofx
Long @6391 looking for R1 level @6440 area. Bears go to sleep!!!
G/L for all of you!!!
.....chow...bored
  • #163,942
  • Sep 7, 2009 9:24am Sep 7, 2009 9:24am
Personally, I see another test of 6364ish (1H S/R) coming up here. Last 15m closed below 6380 daily S/R. "Might" get a little bounce and a shot at a small long if it gets there. We'll see.....
Ghost Rider - WWTBMD?
  • #163,943
  • Sep 7, 2009 9:33am Sep 7, 2009 9:33am
Quoting albchr
Personally, I see another test of 6364ish coming up here. Last 15m closed below 6380 daily S/R. "Might" get a little bounce and a shot at a small long if it gets there. We'll see.....
i thought london was supposed to be a big volume market i didnt expect things to be this slow.....damnit..i going for a nap...this mofo is sending me to bed
  • #163,944
  • Sep 7, 2009 9:39am Sep 7, 2009 9:39am
Quoting nAVIN2007
i thought london was supposed to be a big volume market i didnt expect things to be this slow.....damnit..i going for a nap...this mofo is sending me to bed
Naaa...I expected this dribble for today. What gets me is this low volume crap will skew the daily candle (for me) and thus, I'm thinking I'll have to exclude the days close from my weekly view.....
Ghost Rider - WWTBMD?
  • #163,945
  • Sep 7, 2009 9:41am Sep 7, 2009 9:41am
i was thinking due to the holiday we might see consoldation most of the day i was watching 6365-6446,
  • #163,946
  • Sep 7, 2009 9:45am Sep 7, 2009 9:45am
there is a HD in H4
i am in short position
  • #163,947
  • Sep 7, 2009 9:48am Sep 7, 2009 9:48am
Quoting USDmakers
there is a HD in H4
i am in short position

HD?? What's that?
Ghost Rider - WWTBMD?
  • #163,948
  • Sep 7, 2009 9:48am Sep 7, 2009 9:48am
Quoting nAVIN2007
i thought london was supposed to be a big volume market i didnt expect things to be this slow.....damnit..i going for a nap...this mofo is sending me to bed
It already covered by friday. 2moro is a nice day to play around.
GELORE
  • #163,949
  • Sep 7, 2009 9:49am Sep 7, 2009 9:49am
Quoting trabagwe
i was thinking due to the holiday we might see consoldation most of the day i was watching 6365-6446,
Totally agree with you...will be ranging from 6363 to 6442 all day long imho. Still long working out my patience...
  • #163,950
  • Edited 10:03am Sep 7, 2009 9:51am | Edited 10:03am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Hey Chaps,

I see PA reaching 62800 tomorrow, why?

1. We do not have any major news tomorrow.
2. Whosoever is shorting dollar, doesn't seem to be doing anymore. Atleast today.
3. Dollar is oversold. Either it will crash or will go back to it's upper range.

So we might see pullback to 64400 and selling tomorrow.

ams
  • #163,951
  • Sep 7, 2009 10:01am Sep 7, 2009 10:01am
Quoting albchr
HD?? What's that?
i mean Hidden Divergence
we have a hidden bearish divergence
  • #163,952
  • Sep 7, 2009 10:06am Sep 7, 2009 10:06am
Quoting USDmakers
i mean Hidden Divergence
we have a hidden bearish divergence
Oh, OK. Thanks...

Before this, HD only meant Harley Davidson to me....
Ghost Rider - WWTBMD?
  • #163,953
  • Sep 7, 2009 10:12am Sep 7, 2009 10:12am
Quoting albchr
Naaa...I expected this dribble for today. What gets me is this low volume crap will skew the daily candle (for me) and thus, I'm thinking I'll have to exclude the days close from my weekly view.....
yep i agree thats what im gonna do as well..this is crazyness
  • #163,954
  • Sep 7, 2009 10:35am Sep 7, 2009 10:35am
I was really focused on oversold status of the dollar but at the weekend I caught this in a bloomberg article:
________________________________________

The London interbank offered rate on three-month loans in dollars fell this week, declining for a 13th straight day yesterday to 0.31 percent, according to the British Bankers’ Association. The corresponding rate for funds in yen was higher at 0.38 percent.

‘New Carry Currency’

“Judging by Libor rates, the dollar’s the new carry currency,” said Jessica Hoversen, a fixed-income and foreign- exchange analyst in Chicago at MF Global Ltd., a brokerage firm. “It’s the cheapest.” In the carry trade, investors borrow in nations where interest rates are low and buy assets where returns are higher, profiting from the difference.

______________________________________

That worries me a bit from a short perspective that we might see sustained dollar weakness from here. Anyone any thoughts on this i.e. dollar becoming the carry trade currency?

Quoting ams
Hey Chaps,




I see PA reaching 62800 tomorrow, why?

1. We do not have any major news tomorrow.
2. Whosoever is shorting dollar, doesn't seem to be doing anymore. Atleast today.
3. Dollar is oversold. Either it will crash or will go back to it's upper range.

So we might see pullback to 64400 and selling tomorrow.

ams
Hope is not a trading strategy
  • #163,955
  • Sep 7, 2009 11:07am Sep 7, 2009 11:07am
Gosh, I hope I didn't kill the thread there

Currently short at an average of 16420...

Cable looks very weak at the moment with stock futures close to daily highs and the euro still pushing the 14350 level...

I've been studying market profile and it warns of US holidays...little action and then a breakout...
Hope is not a trading strategy
  • #163,956
  • Sep 7, 2009 11:10am Sep 7, 2009 11:10am
Quoting Yngwie
already lock the profit. So far so good.. let it flow..
price already breaks 1.6365 support. She should find a next support 1.6235.
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #163,957
  • Sep 7, 2009 11:29am Sep 7, 2009 11:29am
Quoting Yngwie
price already breaks 1.6365 support. She should find a next support 1.6235.
So you don't think daily s1 or the weekly pivot will stop it?
  • #163,958
  • Sep 7, 2009 11:32am Sep 7, 2009 11:32am
this is nuts it like now someone is selling the pound...dollar is at stand still???? what the hell is happening
  • #163,959
  • Edited 11:36am Sep 7, 2009 11:36am | Edited 11:36am
Navin, exactly what was supposed to happen on Friday's close instead of that big dollar sell off! all markets are closed now so we can't really judge.

I do like the downmove though
The Sky is the Limit!
  • #163,960
  • Sep 7, 2009 11:36am Sep 7, 2009 11:36am
Good day to you all,

Some charts to consider. I am studying, so comments welcome. Short from 1.6383. Hope to reach 0.382 Fib. Will keep an eye on price to see if we may move down further.

Any critics welcome to show me things I have missed.

Highest regards
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