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Cable Update (GBPUSD)

  • #170,121
  • Sep 28, 2009 9:57am Sep 28, 2009 9:57am
Quoting gammase1
USDJPY is of some interest right now, Chris, as I think the sell-off is way overdone from a fundamental perspective.
Paul
Thank you for the explanation Paul. Always a wealth of knowledge...
Ghost Rider - WWTBMD?
  • #170,122
  • Sep 28, 2009 9:58am Sep 28, 2009 9:58am
Quoting gammase1
USDJPY is of some interest right now, Chris, as I think the sell-off is way overdone from a fundamental perspective. But sentiment rules right now and there is a determination to at least test both January's low of 87.00 and the resolve of the new government's "strong currency" policy.

As I've said before, a stronger currency from these levels will exert much pain on Japan's economy and mire the country even deeper in deflation, which is a nightmare scenario for a country with public sector debt running at 200% of GDP.

Also supportive of a...
very wise thanks for info brother!
  • #170,123
  • Sep 28, 2009 10:03am Sep 28, 2009 10:03am
Quoting albchr
Thank you for the explanation Paul. Always a wealth of knowledge...

could be a false breakout....may be a signal for further downside...
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  • #170,124
  • Sep 28, 2009 10:06am Sep 28, 2009 10:06am
Good day to you,

Closed @ 1.5902. Will now wait....

Regards
  • #170,125
  • Sep 28, 2009 10:06am Sep 28, 2009 10:06am
Quoting nAVIN2007
could be a false breakout....may be a signal for further downside...
lol...but we'll see, I did back my stop off a bit. want to give this some room.

http://www.forexfactory.com/showpost...stcount=170122
Ghost Rider - WWTBMD?
  • #170,126
  • Sep 28, 2009 10:07am Sep 28, 2009 10:07am
I don't use the fibonacci fans myself but see the value of them as a potential supp/res tool/factor and like others particularly in confluence with other factors.

This morning's Low @ 5767 was a good example a previous daily swing lo zone, around 38.2% of 3646-7044 and the 50% fan of the current yearly lo-hi..I think wormboy uses them?

G/L

http://i35.tinypic.com/1osk83.gif
ex member
  • #170,127
  • Sep 28, 2009 10:12am Sep 28, 2009 10:12am
Quoting TauTrader
Good day to you,

Closed @ 1.5902. Will now wait....

Regards
Nice take TT!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #170,128
  • Sep 28, 2009 10:18am Sep 28, 2009 10:18am
Quoting bbmac
I don't use the fibonacci fans myself but see the value of them as a potential supp/res tool/factor ....

took it on the weekly when it opened and stop smack at the 50:
http://www.forexfactory.com/showpost...postcount=3114

No chance in hell I'm selling from that low.
Thank You
  • #170,129
  • Sep 28, 2009 10:19am Sep 28, 2009 10:19am
Quoting Magix
Nice take TT!
Thank you. I am grateful....

The current battlezone sits between 1.5873 (weekly 50% line) and 1.5915 ( low of last week). Could really go anywhere.

Hope it works out for you.

Regards
  • #170,130
  • Sep 28, 2009 10:19am Sep 28, 2009 10:19am
Quoting karimfx
i see the 1.5914 level and u're right saying that, but i don't see it like a major resistance

but 1.5890 is the level where could go up, i see it like a strong resist to a retrace..
Just curious, what do you think of that level now?

I'm not saying it's major but sure worth paying attention to on the lower TF's IMHO.
Ghost Rider - WWTBMD?
  • #170,131
  • Sep 28, 2009 10:22am Sep 28, 2009 10:22am
We are finally back in the good graces of the 24MA, so will expect a completion of targeted cycle on the hourly. Along with a Positive OSMA and a improving MACD as support.

I do believe it will be a bumpy ride, but will be holding for initial target on chart.

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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #170,132
  • Sep 28, 2009 10:22am Sep 28, 2009 10:22am
Quoting gammase1

For now, I am sitting and waiting to see what unfolds on the charts, as going counter-trend is not something I particularly enjoy.

Paul
Hombre bon jovi !

I left a long on euro/usd running over the weekend (much against my rules), but committed the sin of putting a s/l on half of it - chicken

The weekend chart shows the story and that wide s/l was hit

The other half of the position bounced back great so the only pain is not getting all the gain

Stock mkt - DOW up 122 at this mo so I am a happy bunny and net assets as high as they have every been in GBP but a ways to go in USD

Need to make a killing on forex and the way these charts are hyper ventilating, I think it will be a traders week and I can wreak my revenge for yesterdays s/l hit

long euro at the mo - come on 1.48 retest with GBP sucked up in the vortex if I can say that
  • #170,133
  • Sep 28, 2009 10:25am Sep 28, 2009 10:25am
Quoting Endrju
Hi! Couldn't price move into this channel, i'm kind of thinking about going down, stochastics are bearish, only dow has climbed a bit! I'm holding short, but entered too fast and have 5873!
take a look at chart and i would be glad to hear comments
I agree with your channel. now I waiting for breakout confirm to long.
  • #170,134
  • Sep 28, 2009 10:28am Sep 28, 2009 10:28am
Quoting wormboy

took it on the weekly when it opened and stop smack at the 50:
http://www.forexfactory.com/showpost...postcount=3114

No chance in hell I'm selling from that low.
yeh, well done there, your post earlier caused me to explore the tool further, thx...
ex member
  • #170,135
  • Sep 28, 2009 10:30am Sep 28, 2009 10:30am
we may break 5915 here....
Ghost Rider - WWTBMD?
  • #170,136
  • Sep 28, 2009 10:39am Sep 28, 2009 10:39am
will this area hold is the question?

bloody stupid thing...it doesnt look it does it!
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  • #170,137
  • Sep 28, 2009 10:39am Sep 28, 2009 10:39am
Quoting Piters
lol.. no sure my friend.. we still may go to 1.61 to retest the previous breakout.. (im actualy looking to reshort from there)
Futures are very bulish..too.. guess we have to wait for NYSE.

P

Quoting nAVIN2007
i know what u mean..however we are back to the area we broke out of to go down..only time will tell

its good to see u in here..
Well so far.. looks like we are heading UP..
DPP, then 1.615 next...

[Chart]
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  • #170,138
  • Sep 28, 2009 10:40am Sep 28, 2009 10:40am
Quoting TauTrader
Thank you. I am grateful....

The current battlezone sits between 1.5873 (weekly 50% line) and 1.5915 ( low of last week). Could really go anywhere.

Hope it works out for you.

Regards
Hi Tua can you Please show the chrt for that 50 % line at 15873 ? I kind of missing it Thanks
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #170,139
  • Sep 28, 2009 10:42am Sep 28, 2009 10:42am
USD/CAD tanked 120ish pips
Ghost Rider - WWTBMD?
  • #170,140
  • Sep 28, 2009 10:45am Sep 28, 2009 10:45am
Quoting albchr
I guess broker times and how you draw channels makes a real difference. On my daily, it's out of the channel and unless it closes back inside it, I'm thinking short........Hmmmm...lol
I think it still out side. May be a fallback
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