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Cable Update (GBPUSD)

  • #241,721
  • Jul 29, 2010 9:51am Jul 29, 2010 9:51am
Quoting cloggie
As anticipated 5638 has formed. But only as a minor one so far.
Did you use the fib on the 15m chart to get this support at 38.2 since this level continues to hold out?
Don't be emo... don't be emo....
  • #241,722
  • Jul 29, 2010 9:52am Jul 29, 2010 9:52am
Quoting drakes
Did you use the fib on the 15m chart to get this support at 38.2 since this level continues to hold out?
Yes, it is the 61.8 and it coincides with the R1, so it has serious meaning for today's direction and as long as it holds we will see a new high.
  • #241,723
  • Jul 29, 2010 9:52am Jul 29, 2010 9:52am
Quoting drakes
Wow, I know about Today's high as a R, how do you draw out fib extension anyway?
if you have Metatrader there is a button called "fibonacci expansion".
Now, have you seen USDCHF? what the hell is going on?
  • #241,724
  • Jul 29, 2010 9:54am Jul 29, 2010 9:54am
Quoting Martingale
if you have Metatrader there is a button called "fibonacci expansion".
Now, have you seen USDCHF? what the hell is going on?

See my post earlier, Moody's may downgrade, an obvious flight to safety. Who the heck would want to hold on to dollars now. Nowhere else to go but the Swissy. I have been long Swissy ever since that news came out. Just be mindful of 1.039 the SNB has been known to protect that one.
  • #241,725
  • Jul 29, 2010 9:56am Jul 29, 2010 9:56am
Quoting cloggie
Yes, it is the 61.8 and it coincides with the R1, so it has serious meaning for today's direction and as long as it holds we will see a new high.
Got it, drawn my fib the wrong way....

Yeah, see that it coincides with R1, so am in long again...

Thanks for the walkthrough....
Don't be emo... don't be emo....
  • #241,726
  • Jul 29, 2010 9:57am Jul 29, 2010 9:57am
Quoting drakes
Got it, drawn my fib the wrong way....

Yeah, see that it coincides with R1, so am in long again...

Thanks for the walkthrough....

Careful longing this it is only a minor support, has not formed on the M15/30 yet so should only be a scalp if anything. Don't take your triggers of the M5 unless you scalp it.
  • #241,727
  • Jul 29, 2010 10:00am Jul 29, 2010 10:00am
Eur been ignoring Chf for awhlie. Looks like gbp is starting to ignore eur. Well sh@@it a brick as i speak
All systems of divination, like music itself,work through patterns.
  • #241,728
  • Jul 29, 2010 10:00am Jul 29, 2010 10:00am
Quoting cloggie
See my post earlier, Moody's may downgrade, an obvious flight to safety. Who the heck would want to hold on to dollars now. Nowhere else to go but the Swissy. I have been long Swissy ever since that news came out. Just be mindful of 1.039 the SNB has been known to protect that one.
bedankt!
  • #241,729
  • Jul 29, 2010 10:00am Jul 29, 2010 10:00am
Quoting cloggie
Careful longing this it is only a minor support, has not formed on the M15/30 yet so should only be a scalp if anything. Don't take your triggers of the M5 unless you scalp it.
Ahhh... gotcha, SL triggered...
Don't be emo... don't be emo....
  • #241,730
  • Jul 29, 2010 10:00am Jul 29, 2010 10:00am
Quoting drakes
Ahhh... gotcha, SL triggered...
That was bout to happen. Don't use minor support as an entry. Patience, patience, patience.
  • #241,731
  • Jul 29, 2010 10:01am Jul 29, 2010 10:01am
Quoting Martingale
bedankt!

If you are in the short, you are ok, if you think about getting in I would wait to see what the SNB does. They like 1.039
  • #241,732
  • Jul 29, 2010 10:01am Jul 29, 2010 10:01am
Quoting cloggie
See my post earlier, Moody's may downgrade, an obvious flight to safety. Who the heck would want to hold on to dollars now. Nowhere else to go but the Swissy. I have been long Swissy ever since that news came out. Just be mindful of 1.039 the SNB has been known to protect that one.
add to it this


thats should crack the dollar for a while
Attached Image (click to enlarge)
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  • #241,733
  • Jul 29, 2010 10:05am Jul 29, 2010 10:05am
this thread here is really strange.

Cable is falling like a knife and you are talking about eur/chf. Recognized not the first time... hmmm...
  • #241,734
  • Jul 29, 2010 10:07am Jul 29, 2010 10:07am
Quoting JackintheBox
this thread here is really strange.

Cable is falling like a knife and you are talking about eur/chf. Recognized not the first time... hmmm...

Actually we were talking about UC, which is an important correlated crosspair to keep an eye on to see what the dollar is doing and in effect where cable is going.

So I find your post really strange, guess you need to google correlation in currency pairs and read up a bit.......
  • #241,735
  • Jul 29, 2010 10:10am Jul 29, 2010 10:10am
Quoting JackintheBox
this thread here is really strange.

Cable is falling like a knife and you are talking about eur/chf. Recognized not the first time... hmmm...
'Falling like a knife'

You got me all exited there and I flipped back to my charts. I guess you must be looking at the 1 minute.
This space intentionally left blank.
  • #241,736
  • Jul 29, 2010 10:12am Jul 29, 2010 10:12am
So if people are dumping the US dollar, why is the Pound also falling?
Don't be emo... don't be emo....
  • #241,737
  • Jul 29, 2010 10:14am Jul 29, 2010 10:14am
Sorry, I am daytrader. It was a huge move in a short time, someones selling but I don't know why, may be you know.

No news on my screen
  • #241,738
  • Jul 29, 2010 10:14am Jul 29, 2010 10:14am
Quoting drakes
So if people are dumping the US dollar, why is the Pound also falling?

Look at GC and Dragon you can see where the money is going. Look at the Dow and es
  • #241,739
  • Jul 29, 2010 10:15am Jul 29, 2010 10:15am
Quoting JackintheBox
Sorry, I am daytrader. It was a huge move in a short time, someones selling but I don't know why, may be you know.

No news on my screen

Loads of big news out earlier.
  • #241,740
  • Jul 29, 2010 10:16am Jul 29, 2010 10:16am
no news, just a drop but not the right time to go long, it's a pitty
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