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Cable Update (GBPUSD)

  • #219,761
  • Apr 20, 2010 6:54am Apr 20, 2010 6:54am
I am thinking we could go to 5285, what about you, BB?

Jim

Quoting bbmac
Price pulling back off the Hi at the descending trend line -1hr with 76.4% of 5509-5190, price at 102% of it's average 20day range there....

Where will the buyers come back in?? answers on a postcard to .........

http://i39.tinypic.com/10z94xf.jpg

G/L
  • #219,762
  • Apr 20, 2010 6:55am Apr 20, 2010 6:55am
Quoting bbmac
Price pulling back off the Hi at the descending trend line -1hr with 76.4% of 5509-5190, price at 102% of it's average 20day range there....

Where will the buyers come back in?? answers on a postcard to .........

http://i39.tinypic.com/10z94xf.jpg

G/L
Personally I'm looking at 5375 to add long to my position. We might retrace to 5350 but I don't mind the 25 pips drawdown..
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  • #219,763
  • Apr 20, 2010 6:55am Apr 20, 2010 6:55am
Hi, All. My first chart here. Look at 4H, Chikou span seems to be blocked by candles. If it can turn down from here, it might be safer for shorts to get in for a brief ride. But I don't think it would really crash down.
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  • #219,764
  • Apr 20, 2010 6:58am Apr 20, 2010 6:58am
room i dont know why u are making a fuss about long or short cable moves 150pip daily up and down trade what u see look at darn chart and trade it go back to the pipe room and get high
  • #219,765
  • Apr 20, 2010 6:59am Apr 20, 2010 6:59am
Quoting kill56
room i dont know why u are making a fuss about long or short cable moves 150pip daily up and down trade what u see look at darn chart and trade it go back to the pipe room and get high
pass me the pipe mate..
  • #219,766
  • Apr 20, 2010 7:01am Apr 20, 2010 7:01am
Quoting Nene
I am thinking we could go to 5285, what about you, BB?

Jim

I have no idea mate, just playing the set-ups....currently I have hidden div in 5min but no real trigger to go in as yet...if that 5min hidden div fails will look for it on 15min...as for potential RBS/Supp 5378/76 38.2%/23.6% fibs of today's rise/rise of yesterday's 5190 seems the most obvious next potential suppo area lower. Lower than those is a previous 1hr swing hi=prev resistance=potential rbs zone with 38.2% of that 5190-today's hi in there...will see what set-up/ and trigger to the set-up comes along if any....

G/L

http://i40.tinypic.com/333y3cy.jpg
ex member
  • #219,767
  • Apr 20, 2010 7:05am Apr 20, 2010 7:05am
The thing about various markets now is that alot of asset bubbles have been reinflated to pre-crises levels (more or less) while economic growth (except asia of course) is not as resilient. At the same time we have record low interest rates. Makes me wonder what will happen once interest rates start rising again....the real bloodbath could be ahead of us just a thought.
  • #219,768
  • Apr 20, 2010 7:12am Apr 20, 2010 7:12am
Quoting lexazver
The thing about various markets now is that alot of asset bubbles have been reinflated to pre-crises levels (more or less) while economic growth (except asia of course) is not as resilient. At the same time we have record low interest rates. Makes me wonder what will happen once interest rates start rising again....the real bloodbath could be ahead of us just a thought.
Interest rate need to be adjusted to control the rate of inflation/deflation.. Bubbles is not created by how much the interest rate alone but more into the supply demand chain of reaction and a lot of other factors. Interest rate too low for too long will trigger inflation and too high will trigger deflation which have the same adverse impact for the economy.. Correct me if i'm wrong..
  • #219,769
  • Apr 20, 2010 7:20am Apr 20, 2010 7:20am
I got a 1 hr Evening Star off the Weekly pivot that tells me we will retrace some. But we have to get thru the 1.5380 area which is tough.

Jim
  • #219,770
  • Apr 20, 2010 7:24am Apr 20, 2010 7:24am
Quoting Nene
I am ignoring the 2 candles in the grey area right now. They are an aberation to me so far, especially if the Daily closes above the Red line.

Jim
Hence I assumed we started a downtrend. Assumption is the mother of all ef ups!
  • #219,771
  • Apr 20, 2010 7:24am Apr 20, 2010 7:24am
Speaking of fundamentals, it's well known that the asia region is currently "bailing out" the world's economy. But that region alone will not be able to do that without other regions helping its recovery. It's all inter-related due to the international trading activities.. I would not speculate things here, but maybe we are currently in recovery and in time the trading price/level will go to where its was before.. Its just a matter of time.. Just my personal opinion tho..

PS: My point is: booming/recession of the economy must start from somewhere..
  • #219,772
  • Apr 20, 2010 7:27am Apr 20, 2010 7:27am
Did anyone notice Bearish Gartley formation at m30?
  • #219,773
  • Apr 20, 2010 7:29am Apr 20, 2010 7:29am
Quoting A-speculator
Interest rate need to be adjusted to control the rate of inflation/deflation.. Bubbles is not created by how much the interest rate alone but more into the supply demand chain of reaction and a lot of other factors. Interest rate too low for too long will trigger inflation and too high will trigger deflation which have the same adverse impact for the economy.. Correct me if i'm wrong..
generaly that is the theory but you have to consider other things. Take a look at japan they had interest rates close to zero for god knows how long and they are still battling with deflation. All i'm saying that govt's all ove r the world printed shedloads of money which has reinflating various bubbles but had limited impact on economic growth so now if interest rates start rising and those bubbles start bursting we will end up in even worse situation....once again just my thinking.
  • #219,774
  • Apr 20, 2010 7:30am Apr 20, 2010 7:30am
Quoting Nene
I got a 1 hr Evening Star off the Weekly pivot that tells me we will retrace some. But we have to get thru the 1.5380 area which is tough.

Jim


http://www.forexfactory.com/showpost...postcount=1176
Ghost Rider - WWTBMD?
  • #219,775
  • Apr 20, 2010 7:32am Apr 20, 2010 7:32am
When I look at the 4 hr MACD I see a cross long with a MA cross also below the horizon. The 1 Hr shows short. Now I was always taught that lagging indys are like tits on a bull on any timeframe below 4 hr. History bares that out. This is my work chart so excuse the slop. We are also fighting the Weekly Pivot. Here is my point, if we can get above the Weekly Pivot at 1.5415, then I see a big push to at least 1.5500 area or more. So a short run down and I fully expect another run at the Weekly Pivot.

Jim

Quoting Nene
I got a 1 hr Evening Star off the Weekly pivot that tells me we will retrace some. But we have to get thru the 1.5380 area which is tough.

Jim
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  • #219,776
  • Apr 20, 2010 7:33am Apr 20, 2010 7:33am
That is not what I am saying.

Quoting bbakker
Hence I assumed we started a downtrend. Assumption is the mother of all ef ups!
  • #219,777
  • Apr 20, 2010 7:36am Apr 20, 2010 7:36am
Quoting lexazver
generaly that is the theory but you have to consider other things. Take a look at japan they had interest rates close to zero for god knows how long and they are still battling with deflation. All i'm saying that govt's all ove r the world printed shedloads of money which has reinflating various bubbles but had limited impact on economic growth so now if interest rates start rising and those bubbles start bursting we will end up in even worse situation....once again just my thinking.
Yups, Japan is a different community bro.. They hate spending and that is why the government need to keep the interest rate low to encourage them to spend thus maintain its internal macro economy..
  • #219,778
  • Apr 20, 2010 7:36am Apr 20, 2010 7:36am
Maybe I just didnt understand you, my friend.

Jim

Quoting Nene
That is not what I am saying.
  • #219,779
  • Apr 20, 2010 7:42am Apr 20, 2010 7:42am
It is really struggling with this 5380 level, with good reason.
  • #219,780
  • Apr 20, 2010 7:42am Apr 20, 2010 7:42am
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