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Cable Update (GBPUSD)

  • #11,341
  • Apr 26, 2007 9:14am Apr 26, 2007 9:14am
Quote
(UK) BOE'S TUCKER: INFLATION EXPECTATIONS HAVE BEEN ACHORED

He is dovish.
  • #11,342
  • Apr 26, 2007 9:17am Apr 26, 2007 9:17am
Quoting fxpinoy
ICU - Intensive Care Unit

BTW these were my broker's tip around 0100 GMT:

TRADE STRATEGY: BUY USD ON DIPS

Buy USD vs CAD at 1.1150, stoploss 1.1075. Objective 1.12.50, then 1.1350
Sell GBP at 2.0015, stoploss 2.0131. Objective 1.9900, then 1.9850
Sell Euro at 1.3635, stoploss 1.3737. Objective 1.3530
Sell Aus at .8335. Stoploss .8400.Objective .8230
Who's your broker?

What do they know we don't?
  • #11,343
  • Apr 26, 2007 9:26am Apr 26, 2007 9:26am
Call it intuition, call it undiluted experience, call it bollox, wotever - I think we have bottomed out for today.

Come on 2.0000+++++++
  • #11,344
  • Apr 26, 2007 9:35am Apr 26, 2007 9:35am
went long at 9900, stop at 9879.
  • #11,345
  • Apr 26, 2007 9:53am Apr 26, 2007 9:53am
Quoting leelee75k
went long at 9900, stop at 9879.
I did too long @1.9908 for for 40-50 pips http://www.forexfactory.com/images/icons/icon7.gif cross my fingers ..
  • #11,346
  • Apr 26, 2007 9:56am Apr 26, 2007 9:56am
i'm only looking for 20-25 pips, my gut still wants to go short, but for now i'm letting the brain make the trade.
  • #11,347
  • Apr 26, 2007 10:02am Apr 26, 2007 10:02am
Quoting leelee75k
i'm only looking for 20-25 pips, my gut still wants to go short, but for now i'm letting the brain make the trade.
Well, if it is already bottomed out, Cable usually retraces up to 61.8% or more.. thus could be 40-70 pips. I thinkk you know http://www.forexfactory.com/images/icons/icon7.gif
  • #11,348
  • Apr 26, 2007 10:05am Apr 26, 2007 10:05am
don't get me wrong, i'm not using limits, but will move my stop up to lock in that 20-25 pips while watching it does, hopefully it will retrace 40-50 pips, but my goal is lock in 20-25 pips.
  • #11,349
  • Apr 26, 2007 10:13am Apr 26, 2007 10:13am
Quoting leelee75k
don't get me wrong, i'm not using limits, but will move my stop up to lock in that 20-25 pips while watching it does, hopefully it will retrace 40-50 pips, but my goal is lock in 20-25 pips.

You got your first profit now I would say it would retrace more than 70 pips in this instance, hopefully.
  • #11,350
  • Apr 26, 2007 10:28am Apr 26, 2007 10:28am
i tp 18 pips, no confidence right now, will reload if it retest lows or will buy break above 9930-40 levels.
  • #11,351
  • Edited 11:20am Apr 26, 2007 10:33am | Edited 11:20am
WATCH THAT, THE INFLATION IN UK. IS GETTING WEEKER... Cable may go up a few pips (tonight) then may drop again to th 98 zone

===============
  • #11,352
  • Apr 26, 2007 10:35am Apr 26, 2007 10:35am
Methinks, strange forces at work here little green bodied ugly thing - Holy Cow BM! - What to do? What to do? - I don't have my utility belt with me. I changed outfits.

Easy - GO LONGGGGGGGGGGGGGGGGGGGGGGGGG
  • #11,353
  • Apr 26, 2007 11:03am Apr 26, 2007 11:03am
Quoting FXexpat
Patience can bite you on the bum.

Hope I'm one of a few who got toasted.

I still believe we'll see the 2.00+ level soon - probably tomorrow. On a non news day, I am struggling to understand this rapid drop. Profit taking, yeah some! - 0.5% factored rate hike revision, yeah possibly! - big boys playing with retail, nahh doubtful! - major players buying dollars for takeover purposes, yeah possibly - panic momentum on back of combination of co-inciding events - yehh probably!

Looking forward to a significant retracement. But when?

Keep the faith.
  • #11,354
  • Apr 26, 2007 11:09am Apr 26, 2007 11:09am
There is a serious positive divergence on Cable/Usd on 15 min chart. Thus, going up is imminent .. soon ..I think.
  • #11,355
  • Apr 26, 2007 11:14am Apr 26, 2007 11:14am
Looking for Euro south break of resistance 1.3580 and cable break of 1.9890

We will then have more South movement 50 pips or so I think, I wouldnt long just yet TBH
  • #11,356
  • Apr 26, 2007 11:16am Apr 26, 2007 11:16am
We could be consolidating here between 1.9889 to1.9925 range for the rest of the day. May wait to see what Jpy does with interest rates.
  • #11,357
  • Apr 26, 2007 11:28am Apr 26, 2007 11:28am
i add long 9900........ first target 0000, 2nd 0070 ........... price where buyers exit. ......... i need a beer.........see tomorow hop..hop..hop
I Deeply Love My Virtual Life In Virtual World , RLC
  • #11,358
  • Apr 26, 2007 11:50am Apr 26, 2007 11:50am
Quoting el_duende
Looking for Euro south break of resistance 1.3580 and cable break of 1.9890

We will then have more South movement 50 pips or so I think, I wouldnt long just yet TBH
I think we could go to at least 1.9860 yet.
  • #11,359
  • Apr 26, 2007 11:52am Apr 26, 2007 11:52am
Cable has no more business above 2.0100-200. If it's indeed a broadening triangle then we're looking for 1.9250-9300 level in a few weeks.
  • #11,360
  • Apr 26, 2007 12:04pm Apr 26, 2007 12:04pm
I figure the last run was from 1.9590 to 2.0135. 50% retracement would be 1.9860 and 61% would be 1.9805. Usually we get at least a 50% retracement.
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