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Cable Update (GBPUSD)

  • #11,681
  • Apr 30, 2007 10:29am Apr 30, 2007 10:29am
Quoting mktjong
Well, I went short @1.9990 and try to go for 40-50 pips, let's see and cross my fingers http://www.forexfactory.com/images/icons/icon7.gif
I might be wrong this time http://www.forexfactory.com/images/icons/icon8.gif
  • #11,682
  • Apr 30, 2007 10:30am Apr 30, 2007 10:30am
Now i am angry, it is still raising. T_T
  • #11,683
  • Apr 30, 2007 10:30am Apr 30, 2007 10:30am
as planned: exit at close of 30m candle = 2.0024

the next 30m candle should be bearish... rest of the day is peanuts; more trades tomorrow
  • #11,684
  • Apr 30, 2007 10:31am Apr 30, 2007 10:31am
Quoting mktjong
I might be wrong this time http://www.forexfactory.com/images/icons/icon8.gif
what is ur S/L?
  • #11,685
  • Apr 30, 2007 10:31am Apr 30, 2007 10:31am
i closed all my trades early in profit though
  • #11,686
  • Apr 30, 2007 10:33am Apr 30, 2007 10:33am
As I am expecting more than 100 pips of S/L with entry positions so I am more or less cover up although sad to say in the process of doing so my risk ratio is very very dangerous.
  • #11,687
  • Apr 30, 2007 10:40am Apr 30, 2007 10:40am
2 week downtrend resistance (on 4 hour chart) hit @ 20030.

we now have a huge technical setup in play.

a break of today's range will be critical.
  • #11,688
  • Apr 30, 2007 10:42am Apr 30, 2007 10:42am
I posted this chart earlier, now updated.

Bounce off the trend line just before the expected USD-negative news. Just one of the best R:R ever.
Attached Image
  • #11,689
  • Apr 30, 2007 10:45am Apr 30, 2007 10:45am
made pips and I wasn't even looking. orders filled on the way up, limits met.

I like it when my orders are filled and not missed by a pip or two. looking to buy on dips perhaps..waiting at the moment.
  • #11,690
  • Apr 30, 2007 10:58am Apr 30, 2007 10:58am
Want to go short? Be my guest now...
http://img265.imageshack.us/img265/7296/doneqj4.jpg

If you do it, i guess im fishing the same fish tomorrow..

What happened today has a good chance of happening again, but hey im just a newb, lets wait.
  • #11,691
  • Apr 30, 2007 11:06am Apr 30, 2007 11:06am
Quoting Warper
Want to go short? Be my guest now...
http://img265.imageshack.us/img265/7296/doneqj4.jpg

If you do it, i guess im fishing the same fish tomorrow..

What happened today has a good chance of happening again, but hey im just a newb, lets wait.
hum, i dont know, i'll wait for my system's signal but it looks like it will wait for a dip some hours into the evening to go long again for tomorrow

anyway given today's daily range and that tomorrow it's a holiday, i expect it to be quiet day, probably a sub-100 pips day
  • #11,692
  • Apr 30, 2007 11:30am Apr 30, 2007 11:30am
Hi

is this holiday will effect the market and cable
  • #11,693
  • Apr 30, 2007 11:36am Apr 30, 2007 11:36am
Quoting deboooo2005
Hi

is this holiday will effect the market and cable
Sorry I am a newbie here, but I cannot see how the EUR holiday will affect cable very much if it is only Europe that is on holiday, with the biggest forex markets being in New York and London who are both working.
  • #11,694
  • Apr 30, 2007 11:48am Apr 30, 2007 11:48am
Youre right camisa. There are a few things i will consider.

1- The price gets closer to the lower line of the triangle and ISM report is dolar negative. The price might not have enough strenght to break the upper line unless its very bad news. But looking at the chart, the travel from one line to another might be completed in just one strike, so i dont know if will remain some pips for ppl who wont trade the new.

2- The price gets closer to the lower line of the triangle and ISM report is dolar positive. Breakout. How far i dont know. I will only go short if the PMI from GB is bad early in the morning. I will target 1.9800 because there is a major fib around 1.9770. Then will buy the bounce on that fib, probably 80 pips at ease.

There is another thing that can happen, the price gets close to the upper line because of a good PMI from GB and then the ISM gets bad. Breakout to the upside? Target 2.0050 or 2.0060?

http://img170.imageshack.us/img170/9793/trgg5.jpg
  • #11,695
  • Apr 30, 2007 12:03pm Apr 30, 2007 12:03pm
My shorts from 9915 and 9908 were stopped at -45. Went long with double lots from 9975 and closed them at 2.0020, so I am at BE for today which is good considering that I was bearish for today. I am still bearish but will wait for tomorrow's London open to see what's the result of end-of-month closing party.
  • #11,696
  • Apr 30, 2007 12:26pm Apr 30, 2007 12:26pm
Quoting Warper
Youre right camisa. There are a few things i will consider.

1- The price gets closer to the lower line of the triangle and ISM report is dolar negative. The price might not have enough strenght to break the upper line unless its very bad news. But looking at the chart, the travel from one line to another might be completed in just one strike, so i dont know if will remain some pips for ppl who wont trade the new.

2- The price gets closer to the lower line of the triangle and ISM report is dolar positive. Breakout. How far i dont know. I will only go short if the PMI from GB is bad early in the morning. I will target 1.9800 because there is a major fib around 1.9770. Then will buy the bounce on that fib, probably 80 pips at ease.

There is another thing that can happen, the price gets close to the upper line because of a good PMI from GB and then the ISM gets bad. Breakout to the upside? Target 2.0050 or 2.0060?

http://img170.imageshack.us/img170/9793/trgg5.jpg

I saw it too. I agree with you only news could break either ways. For now, most likely it would travel down first, as up is been reached.
It's exciting to see how volatile is trading Forex, especially Cable pairs http://www.forexfactory.com/images/icons/icon6.gif
  • #11,697
  • Apr 30, 2007 12:32pm Apr 30, 2007 12:32pm
heavy offers on the 2.0040`s 50`s (to have in mind)
Whatever you do, just keep doing it in a dicipline manner.
  • #11,698
  • Apr 30, 2007 1:28pm Apr 30, 2007 1:28pm
Cable is holding easily above 23% of today's low-high fib. This is ultra bullish in the immediate / short terms.

Euro holding easily above previous toppish levels, which is also very bullish shortly.
  • #11,699
  • Apr 30, 2007 4:27pm Apr 30, 2007 4:27pm
Quoting cesarnc
Cable is holding easily above 23% of today's low-high fib. This is ultra bullish in the immediate / short terms.

Euro holding easily above previous toppish levels, which is also very bullish shortly.
Hi cesarnc

now it seems to be below the 23% of today's low-high fib. what do u think ?
  • #11,700
  • Apr 30, 2007 4:44pm Apr 30, 2007 4:44pm
Quoting m_j_1984
Hi cesarnc

now it seems to be below the 23% of today's low-high fib. what do u think ?
I'm buying at all levels from today's low high (9889 - 0030)... actually Cable is looking offered right now, move not spread across the majos... might provide a nice dip... in less than 2 min... or at the top of the hour...
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