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Cable Update (GBPUSD)

  • #11,941
  • May 3, 2007 9:25am May 3, 2007 9:25am
Quoting BIL2205
GBP took a dip and now on its way up. good time to go long or wait.????
wait for 1.9850 to confirm.

buy a bounce, sell a break
  • #11,942
  • May 3, 2007 9:39am May 3, 2007 9:39am
Quoting cesarnc
IMO, you can measure the level of manipulation by the revision.... GB news show 3-5% error previous/revision. NFP had shown 30% already...

If not INTENTIONAL, then surely these numbers are run by MORONS. Make up your mind now.
i think almost every forex reaction from NFP this year has been reversed in a day or two. imo, its a joke. a plug used by the big players to shake traders out of positions.

beware if there is a big gap up/down and then just a narrow range for the rest of the day...
  • #11,943
  • May 3, 2007 9:39am May 3, 2007 9:39am
Quoting deboooo2005
if the news comes positive to dollar " ISM Non-Manufacturing Index , Prices" and cable didn't break 1.9877 ... so its still long so my advice to buy cable @ 1.9885 ... and if cable break 1.9877 ... so its short .... that's mean our risk is 8 pips or reverse

i hope u understand me
It broke 1.9877 too.. and is testing 1.9850 instead..

After 12 EST, wait for the hungry mob who did not do lunch and instead wants to eat some pips instead.
  • #11,944
  • May 3, 2007 9:42am May 3, 2007 9:42am
Quoting BurgerKing
wait for 1.9850 to confirm.

buy a bounce, sell a break
I didnt wait and placed a long at 1.9861 Im holding 2 more positions against but I trust the retracement. we are at a very strong support on 4 and daily charts... stochastics at the bottom and MACD was almost breaking from 1 hr and up. I think is a golden chance to rebuy lower. there is no news coming for uk bad or good to make it move and the good news for usa all already came out, JPY is holiday so what else could send cable lower in my opinion nothing fundamental. on other forums chats and some signals providers are already sending me signals for long cable so I guess I confirm with this my next strategy and I share this with all of you guys good luck! and amen hehe.
  • #11,945
  • May 3, 2007 9:45am May 3, 2007 9:45am
Long 9860...........

I ....Hop hop hop see 2.0000 again
I Deeply Love My Virtual Life In Virtual World , RLC
  • #11,946
  • May 3, 2007 9:48am May 3, 2007 9:48am
Quoting notme32
Long 9860...........

I ....Hop hop hop see 2.0000 again
hop hop hop...
  • #11,947
  • May 3, 2007 9:52am May 3, 2007 9:52am
Why then didn't the May 1st drop retrace?
Gone to a better place
  • #11,948
  • May 3, 2007 10:00am May 3, 2007 10:00am
Quoting smikester
Ejector seat at the ready. One weeks hard work down the drain. Please tell us newbies not to trade through the news...
Keep at it.
Do not focus on making money; focus on protecting what you have.
  • #11,949
  • May 3, 2007 10:06am May 3, 2007 10:06am
Quoting Why Oh Why
Keep at it.
Just as long as I don't have to sell the new mop...
Gone to a better place
  • #11,950
  • May 3, 2007 10:08am May 3, 2007 10:08am
I'll be putting another Buy Limit in soon. I still see a drop. Last 1.9888.
Do not focus on making money; focus on protecting what you have.
  • #11,951
  • May 3, 2007 10:08am May 3, 2007 10:08am
Seems like 9860-9885 will be an important short-term support-resistance level.
  • #11,952
  • May 3, 2007 10:14am May 3, 2007 10:14am
EUR found a massive long and short term support at 3550.
  • #11,953
  • May 3, 2007 10:25am May 3, 2007 10:25am
Quoting Why Oh Why
I'll be putting another Buy Limit in soon. I still see a drop. Last 1.9888.
Be nice if it gets there. But I'm not that confident or I'd short on the way down as well. Last 1.9873.
Do not focus on making money; focus on protecting what you have.
  • #11,954
  • May 3, 2007 10:39am May 3, 2007 10:39am
9850 area is very bottomish, as it was previous toppish area since December. Expected support and place where (finally?) some buyers will emerge from.

But in thin liquidity market, the thirst from stop huntings prevails, so spikes below this figure remain on the cards and exaggerated moves to both sides, out of nowhere.

Too much talk of Euro barrier at 3540 not to be tested, imo.

"Golden Week" is now marked in red in my calendar as "get the heck out of the damn computer".

BTW, still buying dips...
  • #11,955
  • May 3, 2007 10:42am May 3, 2007 10:42am
Agreed... Hop hop hop...
  • #11,956
  • May 3, 2007 10:45am May 3, 2007 10:45am
So when will we see some movement on this pair - ranging for most of rest of day?
All hard work brings a profit, but mere talk leads only to poverty.
  • #11,957
  • May 3, 2007 10:56am May 3, 2007 10:56am
Quoting Sami7
So when will we see some movement on this pair - ranging for most of rest of day?
The only movement today has been news inspired, both at 8:30 and 10:00 - otherwise it dickered around hardly moving....I think weŽll get more of the same until tomorrow.

P.S. Thanks okfx and dswk - I rather liked this one!
Trading Levels with WRBs
  • #11,958
  • May 3, 2007 11:59am May 3, 2007 11:59am
hey all!!

hope you're all making out well. my trades from last night partially worked out. cable long from 9900, with tp of 9940 got hit. sell target of 9950 was missed. I shorted at 9924, tp at 9880, been out of cable since.

yen short from 12120, took partial profit at 12100, got stopped out of the rest at 12135

closed medium term euro shorts when 3555 limit got hit, currently long euro at 3563

waiting Japanese session to add any positions.
  • #11,959
  • May 3, 2007 12:17pm May 3, 2007 12:17pm
Japanese session is off ... holiday all day
  • #11,960
  • May 3, 2007 12:35pm May 3, 2007 12:35pm
lol.. duh that's right, almost forgot

then i mean london
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