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Cable Update (GBPUSD)

  • #11,641
  • Apr 30, 2007 6:00am Apr 30, 2007 6:00am
morning all,

I'm also out of the markets today, not only do I have stuff to do but I too am waiting for a better set up. probably set some more orders after 10 am news and that's about it.
  • #11,642
  • Apr 30, 2007 6:02am Apr 30, 2007 6:02am
Quoting cesarnc
08:35 Attention SOTD Traders: Cable hesitates at 1.9945 highs, pulls stops on long positions to breakeven.

What is "SOTD Traders" ?!?
Disregard that. The newsfeed that you are using is from a broker and they publish their trade plan to their clients everyday, if I'm not mistaken.

SOTD = Strategy of the Day

So the announcement are actually for their clients who traded their recommendations.
  • #11,643
  • Apr 30, 2007 6:04am Apr 30, 2007 6:04am
Seems like the data were USD negatives and therefore GBPUSD bullish.

I managed to exit my short earlier when they got stopped out with a 2 pip profit.. Will stay away for a while until a clear R/S rejections or follow through takes place.

1.9965 seems like a resistance now. Its the High for the day.
  • #11,644
  • Apr 30, 2007 6:07am Apr 30, 2007 6:07am
Quoting cesarnc
08:35 Attention SOTD Traders: Cable hesitates at 1.9945 highs, pulls stops on long positions to breakeven.

What is "SOTD Traders" ?!?
"Stock-of-the-day" Traders.
  • #11,645
  • Apr 30, 2007 6:09am Apr 30, 2007 6:09am
Quoting jbgee
Disregard that. The newsfeed that you are using is from a broker and they publish their trade plan to their clients everyday, if I'm not mistaken.

SOTD = Strategy of the Day

So the announcement are actually for their clients who traded their recommendations.
Makes sense, thanks.. This comentary feed I have also mention "Strategy of the Day updated" every day, so I guess it is it...
  • #11,646
  • Apr 30, 2007 6:17am Apr 30, 2007 6:17am
It will be long alright. Lots of negative fundamental reports on US although GBP is also9 showing negative report. current taking more than 50 pips in profits. Chiago PMI will be the last action hero <I mean tonite>
  • #11,647
  • Apr 30, 2007 6:34am Apr 30, 2007 6:34am
From 8 hours ago Buy Limit here for 40. Last 3 now showing 25 pips each. Holding.
Do not focus on making money; focus on protecting what you have.
  • #11,648
  • Apr 30, 2007 6:36am Apr 30, 2007 6:36am
Last week, 2.0060 was the resistance to break.

This week, could 1.9960 be the resistance to break?
  • #11,649
  • Apr 30, 2007 6:36am Apr 30, 2007 6:36am
for those who are long, add this reason:

clean inverse head & shoulders today in 30m chart...
  • #11,650
  • Apr 30, 2007 6:40am Apr 30, 2007 6:40am
Quoting camisa
for those who are long, add this reason:

clean inverse head & shoulders today in 30m chart...
Like that... what would be target to expect out of this?
  • #11,651
  • Apr 30, 2007 6:49am Apr 30, 2007 6:49am
I've seen funerals more exciting...
  • #11,652
  • Apr 30, 2007 6:52am Apr 30, 2007 6:52am
Quoting cesarnc
I've seen funerals more exciting...
hahahaha

Maybe markets are waiting for bernanke tomorrow
  • #11,653
  • Apr 30, 2007 6:53am Apr 30, 2007 6:53am
Quoting cesarnc
I've seen funerals more exciting...
I've seen funerals ending up as dance parties after everybody got drunk. ;-)
  • #11,654
  • Apr 30, 2007 6:58am Apr 30, 2007 6:58am
MoneyWeek E-Letter Article:

"Currencies, the pound had fallen to 1.9903 against the dollar and was at 1.4648 against the euro. The dollar was trading at 0.7365 against the euro and 119.6 against the Japanese yen.
And in London this morning, a survey by Hometrack revealed that UK house prices advanced the most in almost four years in April, with London driving gains. The average house price in England and Wales saw an annual increase of 6.8% to £174,600. In other economics news, the National Institute of Economic and Social Research announced that it expects UK inflation to exceed the official 2% target until the second quarter of 2008 as a result of the Bank of England's decision to cut rates in 2005."

I am pleased I got back in long at 915 - but am baffled as to why pos cable and neg $ news has not fired the market today.

Any way - I made my target pips.
  • #11,655
  • Apr 30, 2007 7:01am Apr 30, 2007 7:01am
Quoting cesarnc
Like that... what would be target to expect out of this?
around 2.0000 but I don't trust these kind of price patterns, just a curiosity as it is really so clean
  • #11,656
  • Edited 7:29am Apr 30, 2007 7:04am | Edited 7:29am
19970 has been rejected 5 times in the last 24 hours.

there must be lots of stops building up at this level. i would be very surprised not to see a breakout soon....

how it reacts above this level (launch pad?) will tell-the tell.
  • #11,657
  • Apr 30, 2007 7:10am Apr 30, 2007 7:10am
Fireworks @ 11:00 EST fix - Month end flows
  • #11,658
  • Apr 30, 2007 7:14am Apr 30, 2007 7:14am
Quoting cesarnc
Fireworks @ 11:00 EST fix - Month end flows
I assume you mean month end client position closing or something like that?
  • #11,659
  • Apr 30, 2007 7:20am Apr 30, 2007 7:20am
I am finish for today 60.7 pips for GBP/USD. Rest of the week will be a short for GBP/USD. I hope.......
  • #11,660
  • Apr 30, 2007 7:24am Apr 30, 2007 7:24am
Quoting indigo
19970 has been rejected 5 times in the last 24 hours.

there must be lots of stops buiding up at this level. i would be very surprised not to see a breakout soon....

how it reacts above this level (launch pad?) will tell-the tell.
It looks like the bull pressure may tell shortly!
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