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Cable Update (GBPUSD)

  • #193,941
  • Jan 18, 2010 5:13pm Jan 18, 2010 5:13pm
Hi there its past midnight already.I need to sign off because i need to get some sleep.Bye for now.
  • #193,942
  • Jan 18, 2010 5:14pm Jan 18, 2010 5:14pm
Quoting brosd
Hi there its past midnight already.I need to sign off because i need to get some sleep.Bye for now.
Alrighty there little fella. You get all snuggled up in your footy jammies, n give Teddy a big hug for all of us.

Sleep well.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #193,943
  • Jan 18, 2010 5:15pm Jan 18, 2010 5:15pm
CPI news out for the cable soon - anyone have any idea of which way it will run?

I'm currently short from last week but getting slammed, obv! lol
  • #193,944
  • Jan 18, 2010 5:30pm Jan 18, 2010 5:30pm
It will go down.
  • #193,945
  • Jan 18, 2010 5:31pm Jan 18, 2010 5:31pm
help me understand why will it go down ?
  • #193,946
  • Jan 18, 2010 5:40pm Jan 18, 2010 5:40pm
Immediate support still found on the hourly and H4 24SMA...OSMA on H4 about to go positive to confirm the MACD and look for higher highs, confirming the Daily MACD of being positive.

Current resistance on the 1hr 1440EMA and the 4Hr 600EMA....

Since NY hasn't had a chance to buy @ bottom range yet, we might see a pull back, but as far as assumptions and playing the counter trends...I think I will just wait for confirmation on continuation and keep playing the longs.
Attached Image (click to enlarge)
Click to Enlarge Name: cable.jpg Size: 108 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #193,947
  • Jan 18, 2010 5:48pm Jan 18, 2010 5:48pm
Hello all,

I do not see as of yet any reason for major pullback. Still charting, though.

On correction I am expecting buyer's @ 6300 and more below if we even get there.

Longs kept in play and buying the dips for now.
Potential short term target 1 = 6400 #2 6500 could take a day or 2 (we'll see)

Keep in mind today was a bank holiday in The US. So tomorrow should be more volatile. Need to check news rack. Any negative USD sentiment should help cable continue up
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #193,948
  • Jan 18, 2010 5:49pm Jan 18, 2010 5:49pm
3 high impact news events on tap for Tues, first one at 4:30 AM EST and 2 on Wed. Daily moving averages are really converging tightly too. Think cable will be moving?
  • #193,949
  • Jan 18, 2010 5:56pm Jan 18, 2010 5:56pm
Quoting Accumulation
3 high impact news events on tap for Tues, first one at 4:30 AM EST and 2 on Wed. Daily moving averages are really converging tightly too. Think cable will be moving?

cable is being supported in the 6220 region , how ever move back up has been on low volume

we do have GBP cpi and tomorrow we have CIT earnings before market opens.

If CIT disappoints we may see another 1% plus down in the US markets tomorrow..... if beats expectation then us market moves up reversing Fridays down day and taking gu up with it,.

For now sells under 1.6220 / 6180 are favourable , other than that buy all dips on 15 min chart
Blogging daily now at www.volume.zone
  • #193,950
  • Edited 6:13pm Jan 18, 2010 6:07pm | Edited 6:13pm
Here are my charts. Take with a salt.

I'm hearing the rumblings of Cadbury acquisition by Hershey as a potential Bank manipulation, so I'm approaching with extreme caution. Plus the pending news tomorrow; I don't think I'll trade until the evening GMT.

Malcomb, dips on 15M sounds like a great idea for the moment

BTW, for those wanting more info on Murrey Math, Baby-Trader was kind enough to post this link which I think is a great one-page summary:
http://blog.bigmiketrading.com/2009/...re-detail.html
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd daily2.gif Size: 105 KB
Click to Enlarge Name: gbpusd 4h.gif Size: 110 KB
A pip is only worth it if you know how much you risked to earn it
  • #193,951
  • Jan 18, 2010 6:07pm Jan 18, 2010 6:07pm
from what i see...
pound gonna break 16400. any thoughts????
the reason is......the stoch lines shows strong up direction on my chart...and it almost at the top.....
perhaps......then it will down as assumed....

please comment.
  • #193,952
  • Jan 18, 2010 6:20pm Jan 18, 2010 6:20pm
That was a nice one...pulled an easy 56 with 5 lots, buying all the way down to 200ema on the 1m chart.

Check out the PA...3 levels of support touched on that dip, 24SMA on the 15, 55EMA on the 5 and 200EMA on the 1m...
Attached Image (click to enlarge)
Click to Enlarge Name: support.jpg Size: 217 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #193,953
  • Jan 18, 2010 6:24pm Jan 18, 2010 6:24pm
Quoting Magix
That was a nice one...pulled an easy 56 with 5 lots, buying all the way down to 200ema on the 1m chart.

Check out the PA...3 levels of support touched on that dip, 24SMA on the 15, 55EMA on the 5 and 200EMA on the 1m...
Just missed the 1MA typing up my post! LOL
A pip is only worth it if you know how much you risked to earn it
  • #193,954
  • Jan 18, 2010 6:25pm Jan 18, 2010 6:25pm
Cadburys buy out is going to resolve ALL the global issues. Seesm like pros are using this news to push GU up under low volume conditions. I guess the 17 billionish price tag is going to be withdrawn in cash form a bank machine somewhere in a High Street in London and this is why GBp bid has to remain high...lol

Dubai issue of 60 billion loans that they were going to defualt on has disappeared... the market did not even blink when the news came out Abu Dhabi is only willing to lend them half of the 10 billion they were going to..

Tomorrow should show us real direction and intent of the markets for the week

The weekness that appeared in GBP and eu on friday was due to down ward movement of us markets.... tomorrow we will see if that ultra high volume down day has a buying reaction.



Quoting vlady1974
Here are my charts. Take with a salt.

I'm hearing the rumblings of Cadbury acquisition by Hershey as a potential Bank manipulation, so I'm approaching with extreme caution. Plus the pending news tomorrow; I don't think I'll trade until the evening GMT.

Malcomb, dips on 15M sounds like a great idea for the moment

BTW, for those wanting more info on Murrey Math, Baby-Trader was kind enough to post this link which I think is a great one-page summary:
http://blog.bigmiketrading.com/2009/...re-detail.html...
Blogging daily now at www.volume.zone
  • #193,955
  • Jan 18, 2010 6:28pm Jan 18, 2010 6:28pm
Quoting malcolmb14
Cadburys buy out is going to resolve ALL the global issues.
Do you think it will help out with male pattern baldness, and I have this rash...but would really prefer not to talk about it...

Buwahahahahahahah

Exited out of last two longs...will leave a few behind for the rest of yaz....will look to load back @ 1.6339 area.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #193,956
  • Jan 18, 2010 6:32pm Jan 18, 2010 6:32pm
I'm seeing divergence on the RSI 8 as the cable continues to rally...
  • #193,957
  • Jan 18, 2010 6:37pm Jan 18, 2010 6:37pm
Quoting scottik187
I'm seeing divergence on the RSI 8 as the cable continues to rally...
RSI is a laggy repainting indy...

Personally, I wouldn't even use it as a confirmation indicator, but thats me.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #193,958
  • Jan 18, 2010 6:39pm Jan 18, 2010 6:39pm
A pip is only worth it if you know how much you risked to earn it
  • #193,959
  • Jan 18, 2010 6:46pm Jan 18, 2010 6:46pm
Quoting Magix
RSI is a laggy repainting indy...

Personally, I wouldn't even use it as a confirmation indicator, but thats me.
RSI : Really Simple Idiot ?
  • #193,960
  • Jan 18, 2010 6:54pm Jan 18, 2010 6:54pm
Dragon just followed recent cable break! Damn... wasn't there for entry.
There was some nice correlation yesterday, seemed they fell off while I was out.
Late LDN.

Edit: There goes 6400!!!

Some nice XAU/USD action to the north tonight.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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