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:: Cable (GBPUSD) Trend Trading ::

  • #301
  • May 9, 2007 11:31pm May 9, 2007 11:31pm
Quoting Why Oh Why
1.9815 SL 1.9715 TP 1.9995. Last 1.9870.
Shame we didn't quite get down there yesterday.
Do not focus on making money; focus on protecting what you have.
  • #302
  • May 9, 2007 11:36pm May 9, 2007 11:36pm
Quoting Why Oh Why
1.9915 SL 1.9815 TP 2.0075. Last 1.9965. Buy Limit #3 is still outstanding.
SL at break even. From here. Last 1.9940 for 25.
Do not focus on making money; focus on protecting what you have.
  • #303
  • May 9, 2007 11:47pm May 9, 2007 11:47pm
Quoting proctorforex
Cognac is probably the best thing when north equals south!
It was a woman who drove me to drink and I never even thanked her. Good to see you again PF.
Do not focus on making money; focus on protecting what you have.
  • #304
  • May 10, 2007 12:40am May 10, 2007 12:40am
But how much? Is it time to fill my boots? It's bounced off 1.9930 area of support which was resistance in early NY. Last 1.9943.
Do not focus on making money; focus on protecting what you have.
  • #305
  • May 10, 2007 12:50am May 10, 2007 12:50am
GBP has been consolidating in the 9940 area for the last few days. Yesterday it broke that nasty trendline and it has already done so again today.

I like your tp of 0075! My view is, the only way is up. But by how much?
Gone to a better place
  • #306
  • May 10, 2007 12:59am May 10, 2007 12:59am
1.9895 SL 1.9795 TP 2.0095. Last 1.9945.
Do not focus on making money; focus on protecting what you have.
  • #307
  • May 10, 2007 1:04am May 10, 2007 1:04am
Thanks WOW, I need to learn why you do what you do. Wont you please give a short explanation of why you have this buy order in.

I would like to be able to do this on my own one day and help other people like you do.

Again, thank you
  • #308
  • May 10, 2007 1:05am May 10, 2007 1:05am
Quoting smikester
GBP has been consolidating in the 9940 area for the last few days. Yesterday it broke that nasty trendline and it has already done so again today. I like your tp of 0075! My view is, the only way is up. But by how much?
Great to see you again. I'm with you but the price right now for me doesn't have much value. And with 4 major FA today it could be choppy. I'm not bothered if the one above isn't opened... yet. But it'd be nice if it was. Forex Gods, are you listening?
Do not focus on making money; focus on protecting what you have.
  • #309
  • May 10, 2007 1:11am May 10, 2007 1:11am
Good morning all - lots of data out today, we could be in for more chop in the 930 - 998 range until after 8:30 NY

4:30am GBPTrade Balance http://www.forexfactory.com/images/m...mpact_high.gif -6.7B-6.8B

7:00am GBPInterest Rate Statement http://www.forexfactory.com/images/m...mpact_high.gif 5.50%5.25%

7:45am EURInterest Rate Statement http://www.forexfactory.com/images/m...act_medium.gif 3.75%3.75%

8:30am USDTrade Balance http://www.forexfactory.com/images/m...mpact_high.gif -60.0B-58.4B

8:30am EURECB President Trichet Speaks http://www.forexfactory.com/images/m...mpact_high.gif
Trading Levels with WRBs
  • #310
  • May 10, 2007 1:15am May 10, 2007 1:15am
Quoting Make a Million
Thanks WOW, I need to learn why you do what you do. Wont you please give a short explanation of why you have this buy order in.
It's that time again. I do post the "Why" occasionally. I'll try and do more. But this was just posted here and it pretty much illustrates my view. The chart, IMO, is right and the person replying in that post is wrong. But it's not just about the charts. More later. And I'll really try and get back before lunch.
Do not focus on making money; focus on protecting what you have.
  • #311
  • May 10, 2007 1:15am May 10, 2007 1:15am
Good morning!

Yes I think it will be choppy. I'm not doing too much trading today. I think setting buy limits, buy stops and sl's would be a good idea, if only I knew where to put them. And if Tony Blair resigns (stands down ) who knows what might happen...
Gone to a better place
  • #312
  • Edited 4:42am May 10, 2007 1:41am | Edited 4:42am
Quoting Why Oh Why
1.9895 SL 1.9795 TP 2.0095. Last 1.9945.
This is the general res area from 13 Apr that has since provided good supp. You never know another big area would be 1.9850 if it should get so low?
  • #313
  • May 10, 2007 2:05am May 10, 2007 2:05am
Quoting Make a Million
Thanks WOW, I need to learn why you do what you do. Wont you please give a short explanation of why you have this buy order in.

I would like to be able to do this on my own one day and help other people like you do.

Again, thank you
One thing that you can do is simple, take a daily chart and just look for obviously supp/res areas.
  • #314
  • May 10, 2007 3:45am May 10, 2007 3:45am
Quoting Why Oh Why
1.9895 SL 1.9795 TP 2.0095. Last 1.9945.
WOW, buy opened just before UK figures. Last 9907
  • #315
  • May 10, 2007 4:14am May 10, 2007 4:14am
Quoting Why Oh Why
1.9895 SL 1.9795 TP 2.0095. Last 1.9945.
Opened at 1.9895 for 5 long. Last 1.9903. Holding. The downside breakout of 1.9925 may cause a drop to 1.9890. I'm trusting it will stay above my SL of 1.9895. There is limited downside ST IMO.

Francois - I haven't forgotten. More later.
Do not focus on making money; focus on protecting what you have.
  • #316
  • May 10, 2007 4:37am May 10, 2007 4:37am
Quoting Why Oh Why
Opened at 1.9895 for 5 long. Last 1.9903. Holding. The downside breakout of 1.9925 may cause a drop to 1.9890. I'm trusting it will stay above my SL of 1.9895. There is limited downside ST IMO.

Francois - I haven't forgotten. More later.
SL 1.9795?
  • #317
  • May 10, 2007 4:43am May 10, 2007 4:43am
Quoting Vantage
This is the general res area from 13 Apr that has since provided good supp. You never know another big area would be 1.9850 if it should get so low?
Looks like .9860 holding for now, currently .9871, I'll be looking for a little more confirmation of a turn before buying. Next supp area looks to be .9820, should it slip again.
  • #318
  • May 10, 2007 4:58am May 10, 2007 4:58am
Interest rate statement in one hour
Regards
  • #319
  • May 10, 2007 5:39am May 10, 2007 5:39am
Was this drop in GBP due to Blair's resignation? Its been expected, why would it have such a big effect?
  • #320
  • May 10, 2007 5:43am May 10, 2007 5:43am
Quoting Make a Million
Was this drop in GBP due to Blair's resignation? Its been expected, why would it have such a big effect?
Not sure but there wasn't much strength behind it judging from the various stoch and MACD divergences on 1, 2 and 4 hr charts.

So if, and its a big if, the markets have a good feel in advance whats coming these divergences would indicate that GBP is going up. It'll be interesting lets see!
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