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Cable Update (GBPUSD)

  • #262,901
  • Nov 3, 2010 1:48am Nov 3, 2010 1:48am
Quoting trending
I think you missed the "lol" in the subject of magix's post.

I'm with you, there's an inverse h&s on 4H chart as well. The trend is up, there's more notable dead bodies fighting against it.
Not my post dude....

That's malcolmb...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #262,902
  • Nov 3, 2010 1:50am Nov 3, 2010 1:50am
Quoting Fudomyo
The FOMC could produce very different results than the market's been anticipating. If QE2 doesn't meet the dollar destruction quotient that's been priced into the market, this will have been one heck of a mark up.

Considering 5625 is the current 4/8 line on the daily/weekly, a drop to this area is possible. Right now it's anyone's guess.

Personally, not guessing, just trading the breakout on either side. Right now sitting right on the line. Not taking any positions before FOMC, just some hit and run. We may go to R1 bounce and drop, S1 bounce...
a huge amount of QE2 has already priced into the market (obviously the $ amount is still up for debate) but either way i find very difficult to believe that the Feds will be able politically sell a QE2 program that's even looser than the already loose market expectation. IMO, all bias is on the USD strengthening.
  • #262,903
  • Nov 3, 2010 1:53am Nov 3, 2010 1:53am
This made me think while sleeping: why did you assume we would break it upward instead of bouncing down one more time on this high / area / descending triangle trendline ?



Quote
Originally Posted by cloggie http://cdn.forexfactory.com/images/buttons/viewpost.gif
Where is the smart money right now? Long fibre with a stop just below the high waiting for a break.
Hello.
  • #262,904
  • Nov 3, 2010 1:57am Nov 3, 2010 1:57am
Maybe it will touch 5975 today....
Never Stop Learning...
  • #262,905
  • Nov 3, 2010 2:02am Nov 3, 2010 2:02am
back to ema200 ?
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  • #262,906
  • Edited 2:21am Nov 3, 2010 2:03am | Edited 2:21am
Quoting Eulogy
a huge amount of QE2 has already priced into the market (obviously the $ amount is still up for debate) but either way i find very difficult to believe that the Feds will be able politically sell a QE2 program that's even looser than the already loose market expectation. IMO, all bias is on the USD strengthening.
Agree.

Dollar rally's been expected. The hardest part always is figuring out when. Perhaps once the QE figure's settled it'll get the ball rolling. USDX still sitting at WS1 right under key resistance. If we break through, will open more topside.
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  • #262,907
  • Nov 3, 2010 2:11am Nov 3, 2010 2:11am
  •  jaboo
  • | Joined Dec 2009 | Status: Ray Comfort is....the banana man | 236 Posts
Same setup on the GBP/CHF
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  • #262,908
  • Nov 3, 2010 2:15am Nov 3, 2010 2:15am
Quoting Magix
Not my post dude....

That's malcolmb...

Just woke up, still blurry eyed.
  • #262,909
  • Nov 3, 2010 2:33am Nov 3, 2010 2:33am
I don't know if this is a correct interpretation of usdx

if true then us is bound to take off and head towards 78.50

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Mind over matter..I don't mind and you don't matter.
  • #262,910
  • Nov 3, 2010 2:37am Nov 3, 2010 2:37am
Quoting cloggie
6021 is the pivot of the 6038-6006 range that has been in play all afternoon so yes that is what is keeping us up here, a good break on 4038 on fibre will nudge Cable along
Cloggie's level still in play, somebody needs to set up a church in his name.
  • #262,911
  • Nov 3, 2010 2:52am Nov 3, 2010 2:52am
G/M

Bullish start to the London session off a 6006 pullback lo, price nowchallenging the previous 1hr swing lo/hi zone/asian hi.. Above here and the 76.4% fib of the 2 x recent 1hr swings down to the yesterday's lo @ 5960 as well as that previous 1hr/4hr/daily swing hi zone to 6088 then 6107, Daily R1 pivot being @ 6088.

Uk data at 0930am gmt, U.s later and then Fomc.

G/L
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ex member
  • #262,912
  • Nov 3, 2010 2:55am Nov 3, 2010 2:55am
Quoting trending
Cloggie's level still in play, somebody needs to set up a church in his name.
  • #262,913
  • Nov 3, 2010 2:55am Nov 3, 2010 2:55am
London's open?

I thought it's in 5 minutes.

So far just ping ponging around DPP. Let's see what they decide.


Quoting bbmac
G/M

Bullish start to the London session off a 6006 pullback lo, price nowchallenging the previous 1hr swing lo/hi zone/asian hi.. Above here and the 76.4% fib of the 2 x recent 1hr swings down to the yesterday's lo @ 5960 as well as that previous 1hr/4hr/daily swing hi zone to 6088 then 6107, Daily R1 pivot being @ 6088.

Uk data at 0930am gmt, U.s later and then Fomc.

G/L
  • #262,914
  • Nov 3, 2010 2:57am Nov 3, 2010 2:57am
Quoting Fudomyo
London's open?

I thought it's in 5 minutes.

Equities yes but the forex desks are generally accepted to open around 7am,...of course better when all asset classes are trading in respoect of liquidity.
ex member
  • #262,915
  • Nov 3, 2010 3:16am Nov 3, 2010 3:16am
Quoting cloggie
Now judge the test, is this a fake or the real thing? for those conservative traders, move your stop up a bit to safeguard your profits, for those looking for 50 pip runs see if 6038 goes for 6052
Quite surprise nobody is frantically digging up yesterday posts. Its like cheating.
  • #262,916
  • Nov 3, 2010 3:21am Nov 3, 2010 3:21am
if you have 40 pips, it's good to time to buy,
i'll give chart tonight if TP. see u...
I will be the number one Manager.
  • #262,917
  • Nov 3, 2010 3:22am Nov 3, 2010 3:22am
Quoting trending
Quite surprise nobody is frantically digging up yesterday posts. Its like cheating.
No need to if you have SR drawn in properly on your chart.

Once you understand what people are looking at and why, then you can get a bit ahead of the curve and do it yourself.

  • #262,918
  • Nov 3, 2010 3:22am Nov 3, 2010 3:22am
Quoting trending
Quite surprise nobody is frantically digging up yesterday posts. Its like cheating.
That is 76.4% 6079-yesterday's 5960 lo and top of the recent 1hr swing lo zone.

None of this is rocket science, as cloggie is 1st to say.

G/L
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  • #262,919
  • Nov 3, 2010 3:22am Nov 3, 2010 3:22am
Quoting trending
Quite surprise nobody is frantically digging up yesterday posts. Its like cheating.
Don't know what you mean I normally copy and paste all his posts.

  • #262,920
  • Nov 3, 2010 3:30am Nov 3, 2010 3:30am
Also exactly Weekly M4.

Quoting bbmac
That is 76.4% 6079-yesterday's 5960 lo and top of the recent 1hr swing lo zone.

None of this is rocket science, as cloggie is 1st to say.

G/L
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