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Cable Update (GBPUSD)

  • #262,941
  • Nov 3, 2010 4:06am Nov 3, 2010 4:06am
Closed 1/2 here. was hoping we'd pop for R1 on the hourly close. If we drop below 6050 will close out the rest, but for now letting it ride. Would be nice to get the touch before PMI.

http://www.forexfactory.com/showpost...stcount=262909
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  • #262,942
  • Nov 3, 2010 4:09am Nov 3, 2010 4:09am
[quote=Dayboy001;4143042]
Quoting ikdenk

SM =
Sadomasochism


Honestly I don't know but am interested in the answer
My real guess would be SMART MONEY !!

Do I get a prize ?
  • #262,943
  • Nov 3, 2010 4:12am Nov 3, 2010 4:12am
Uk services Pmi due 0930am

here are some scenarios with the greater probability knee-jerk market reaction.

a. Comes in above last month's 52.8 and no downward revision to last month..£ rises

b. Comes in at 50.5 or less and no upward revision to last month's 52.8...£ falls.

There are of course other scnarios...and i outlibe only the geater probability knee-jerk market response...but anything can happen.

With volatility may come opportunity...I hope we see a reaction either way.

G/L
ex member
  • #262,944
  • Nov 3, 2010 4:14am Nov 3, 2010 4:14am
[quote=ikdenk;4143039]
Quoting Beljevina
SM is playing games here & positioning.

a sure fire sign SM is playing games. quote]

What does SM stand for, please? Senior Members? Senile Majority?
smart money
  • #262,945
  • Nov 3, 2010 4:17am Nov 3, 2010 4:17am
hi all thats what i see from h4 chart.
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  • #262,946
  • Nov 3, 2010 4:27am Nov 3, 2010 4:27am
Uk data due ina few mins, and some U.s data later, but looking forward to fed fomc announcement later-should be some real volatility round there !?

G/L
ex member
  • #262,947
  • Nov 3, 2010 4:29am Nov 3, 2010 4:29am
good luck w/ PMI.

TP hit, flat for now.

Quoting bbmac
Uk services Pmi due 0930am

here are some scenarios with the greater probability knee-jerk market reaction.

a. Comes in above last month's 52.8 and no downward revision to last month..£ rises

b. Comes in at 50.5 or less and no upward revision to last month's 52.8...£ falls.

There are of course other scnarios...and i outlibe only the geater probability knee-jerk market response...but anything can happen.

With volatility may come opportunity...I hope we see a reaction either way.

G/L
  • #262,948
  • Nov 3, 2010 4:32am Nov 3, 2010 4:32am
Quoting Fudomyo
good luck w/ PMI.

TP hit, flat for now.
More to come bro.

Rinse and repeat.
  • #262,949
  • Nov 3, 2010 4:38am Nov 3, 2010 4:38am
Quoting honeybhi
More to come bro.

Rinse and repeat.
hi hb

yep. not done for the day. going back in.

(had that trade set on auto TP just in case it was a quick spike and drop)
  • #262,950
  • Nov 3, 2010 4:47am Nov 3, 2010 4:47am
Quoting Fudomyo
hi hb

yep. not done for the day. going back in.

(had that trade set on auto TP just in case it was a quick spike and drop)
Cheers bro.

I'm looking at 1.6172 area FE100 and weekly R1.

Lets see if its direct one or pullback and then up.
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  • #262,951
  • Nov 3, 2010 4:49am Nov 3, 2010 4:49am
Possible touch of the weekly pivot R1 at 1.6152.

GBP/USD M5 01/11 - 05/11
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  • #262,952
  • Nov 3, 2010 5:00am Nov 3, 2010 5:00am
Is anybody considering shorting at this trend line ?

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  • #262,953
  • Nov 3, 2010 5:05am Nov 3, 2010 5:05am
Quoting bbmac
Uk services Pmi due 0930am

here are some scenarios with the greater probability knee-jerk market reaction.

a. Comes in above last month's 52.8 and no downward revision to last month..£ rises

b. Comes in at 50.5 or less and no upward revision to last month's 52.8...£ falls.

There are of course other scnarios...and i outlibe only the geater probability knee-jerk market response...but anything can happen.

With volatility may come opportunity...I hope we see a reaction either way.

G/L
So, scenario a. played out, nice reaction !!

Price has breeched the 1hr and now the 4hr descending trend line to the upside and has goner beyond the recent 1hr/4hr/dsaily swing hi to 6107...Above current price is:

6143 Daily R2
6164-70 Weekly R1
6206 Daily R3
6211-15 Monthly R1
6227 127% of recent daily swing 6107-5649
6252 76.4% 6876-4229
6276 138% of recent daily swing described above
6294 Weekly R2 area
6362 76.4% 7044-4229
6378-6460 previous daily/weekly swing hi area and in this:
6387 is 1.618% of that daily swing and Monthly R2 area.

The current near-term 1hr screenshot is below, I have moved some fibs to the 4hr chart (of main 4hr swings now up from 5649 to current hi.)

G/L
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ex member
  • #262,954
  • Nov 3, 2010 5:12am Nov 3, 2010 5:12am
Quoting honeybhi
Cheers bro.

I'm looking at 1.6172 area FE100 and weekly R1.

Lets see if its direct one or pullback and then up.
WR1 looks good. Depending on momentum +2/8 may be on the table as well.
Sticking w/ my plan, R2 next TP.

It's going to be a long night. FOMC is 3AM here...lol
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  • #262,955
  • Nov 3, 2010 5:12am Nov 3, 2010 5:12am
i thought it will hit my TP this night, but it's already, i'm out at 6138
chart a moment.
I will be the number one Manager.
  • #262,956
  • Nov 3, 2010 5:17am Nov 3, 2010 5:17am
Good morning,

is there anybody shorting cable at the moment? Surely this movement is not sustainable. everybody knows about the QE2 being implemented and it must have already been priced in......
this level is really tempting...
  • #262,957
  • Nov 3, 2010 5:24am Nov 3, 2010 5:24am
Quoting wormboy
Risk had been lowered to 54 pips, stop now @6100.

Catch you guys at lo. Good luck

oops
Thank You
  • #262,958
  • Nov 3, 2010 5:31am Nov 3, 2010 5:31am
Quoting wormboy
oops
hi worm boy why u not posting in ur own thread? hee.
  • #262,959
  • Nov 3, 2010 5:36am Nov 3, 2010 5:36am
Some supply coming in at Daily R2 but nothing big so far....Done for this session, will be back ahead of fomc, later and hoping for more fun and games around that...Bullish intraday market so far up off current 6005 intraday lo (now 76.4% of the 5960-current intraday hi move) ...and at 90% of 20day average pip range so far...could be a big day if fed eswith $1trillioin QE2 ? (or even $500billion?)

Anyways,

G/L with rest of session
ex member
  • #262,960
  • Nov 3, 2010 5:38am Nov 3, 2010 5:38am
So everybody ready for the USD Dollar toilet paper destruction tonight ?
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