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Cable Update (GBPUSD)

  • #13,441
  • May 23, 2007 8:23am May 23, 2007 8:23am
Quoting el_duende
Anyway guys got to go some good stuff posted today.

Time to watch my team Liverpool beat AC Milan in champions league final.

2 losses in 1 day is not worth thinking about
Wished you support Milan, not to make it 3
  • #13,442
  • May 23, 2007 8:27am May 23, 2007 8:27am
The last retail sale came lower than expected, very possible that the new CPI will do the same..
  • #13,443
  • May 23, 2007 8:28am May 23, 2007 8:28am
Gbp/Usd
--------------------------------

Here we go again !..............
Attached Image (click to enlarge)
Click to Enlarge Name: GBP-05-23-2007-#2.jpg Size: 76 KB
  • #13,444
  • May 23, 2007 8:31am May 23, 2007 8:31am
Time to make some pips I am long cable
TRADE LIKE A MACHINE!
  • #13,445
  • May 23, 2007 8:33am May 23, 2007 8:33am
el_duende, i'm with you dude, I was caught on the wrong side; it's in days like this that I'm glad I always use a stop loss!

nice daily range today tough, wish it would always be like this, specially all these last days I was on the right side

PS: go Milan (but who really rules is Benfica!)
  • #13,446
  • May 23, 2007 8:39am May 23, 2007 8:39am
I posted before that I'm short @ 1.9870 and I mentioned that it's against my strategy and that I will keep it with open TP, but I found that this is a typical stupidity, so I closed it @ 1.9882, i won't break my strategy again
  • #13,447
  • May 23, 2007 8:41am May 23, 2007 8:41am
Quoting ndvt241
The last retail sale came lower than expected, very possible that the new CPI will do the same..
you need to worry about the USD Core Durable Goods Orders out tomorrow.
if it comes out as forecasted it WILL run up over 2.000
“Past performance is not indicative of future results”
  • #13,448
  • May 23, 2007 8:45am May 23, 2007 8:45am
Quoting camisa
el_duende, i'm with you dude, I was caught on the wrong side; it's in days like this that I'm glad I always use a stop loss!

nice daily range today tough, wish it would always be like this, specially all these last days I was on the right side

PS: go Milan (but who really rules is Benfica!)
instead of doing a stop loss, why don't you set a "buy stop" higher up ?
you know the pound will go back down. you could be hedged and take profit
at the top.
“Past performance is not indicative of future results”
  • #13,449
  • May 23, 2007 8:52am May 23, 2007 8:52am
Quoting gobigo12
instead of doing a stop loss, why don't you set a "buy stop" higher up ?
you know the pound will go back down. you could be hedged and take profit
at the top.
Yesterday I was short and my system issued a STOP AND REVERSE SIGNAL: I lost 18 pips from the short and won 18 pips from the long endind break even for the day

Today I was long but that spike down messed with my system and it issued a stop and reverse signal so I shorted
  • #13,450
  • May 23, 2007 9:08am May 23, 2007 9:08am
The Gbp/Usd has rallied into this 50% Retracement Line here early today

Do you think int makes it to the 618% level ?

-------------------------------------------------------------
The Asian session will start trading this tonight
They are asleep right now///////

What ever caused this rally - Asia will wake up to it in about 8 hours

Hmmmm , -Wonder how they will react to this big surprise....
Attached Image (click to enlarge)
Click to Enlarge Name: GBP-05-23-2007-#3.jpg Size: 66 KB
  • #13,451
  • May 23, 2007 9:19am May 23, 2007 9:19am
caught 90% of the move today, i hope liverpool have 90% possession and 10 goals!! :

i sense choppy days in the near term for cable - only can be choppy above 9800 or choppy below 9800, you choose lol


Quoting el_duende
Anyway guys got to go some good stuff posted today.

Time to watch my team Liverpool beat AC Milan in champions league final.

2 losses in 1 day is not worth thinking about
  • #13,452
  • May 23, 2007 9:56am May 23, 2007 9:56am
Quoting cesarnc
BTW, I'm not bullish until 9860 is taken out, then proven supportive.
bump. waiting to see if so myself. pin bar/shooting star/inverted hammer forming on 4hr chart.
BAM BAM BOOM! -bravado
  • #13,453
  • May 23, 2007 10:09am May 23, 2007 10:09am
Shooting Star/Inverted Hammer/Pin Bar(?)

http://www.leavittbrothers.com/images/bear/1235.gif

The Psychology

In an uptrend or within a bounce of a downtrend, the stock gaps up. A valid attempt is made to rally the stock, but the strength subsides and the stock falls to close near the day's low and near its opening price. Failure to follow through with strength suggests the bulls may be losing strength. Although this is not necessarily extremely bearish, it is less bullish, so stops should be moved up or profits taken on longs. For a reversal to occur a weak day is needed to confirm the pattern.
BAM BAM BOOM! -bravado
  • #13,454
  • May 23, 2007 10:12am May 23, 2007 10:12am
Quoting bravado
Shooting Star/Inverted Hammer/Pin Bar(?)

http://www.leavittbrothers.com/images/bear/1235.gif

The Psychology

In an uptrend or within a bounce of a downtrend, the stock gaps up. A valid attempt is made to rally the stock, but the strength subsides and the stock falls to close near the day's low and near its opening price. Failure to follow through with strength suggests the bulls may be losing strength. Although this is not necessarily extremely bearish, it is less bullish, so stops should be moved up or profits taken on longs. For a reversal to occur a weak day is needed to confirm the pattern.
Thank you. You are so kind.
  • #13,455
  • May 23, 2007 10:17am May 23, 2007 10:17am
I am not convinced of a trend change.

The BOE has really gone against their data, and its only a matter of time before the big guys evaluate and realise it will be their last rate rise for the year.

Inflation isn't high enough for 50bps, and the housing market is start a down trend.. BOE Have to be very careful from here...

USD sentiment took a little blip of hate today, but I will see it coming back

Question that leaves us here now is G/J.. Will it unwind and speed the process up? Or will it hold and range? This will be a very large factor in the market these coming days.
  • #13,456
  • May 23, 2007 10:33am May 23, 2007 10:33am
"If EJ does not take out 164 today, my name is Britney Spears" - cesarnc, May 18th

Hello Britney, looks like you can go back to being Cesar now. LOL.
  • #13,457
  • May 23, 2007 10:34am May 23, 2007 10:34am
Quoting cesarnc
Thank you. You are so kind.
excuse him. for he knows not what he is talking about. shouldn't have posted that bit about shooting star. information overload for him. i'm sure of it.
BAM BAM BOOM! -bravado
  • #13,458
  • May 23, 2007 11:15am May 23, 2007 11:15am
lol first short got stopped out, I just had feeling it was gonna do one last spike. Cable likes to keep you on your toes. So I set a little larger stop then I like for 22, spiked up just 3 pips more lol. got back in for my short at 83, looking for atleast 827 which is a 38 fib retrace. Eur/usd already retraced to the 50%, figure gbp will likely follow suit.
  • #13,459
  • May 23, 2007 11:18am May 23, 2007 11:18am
Quoting strada
"If EJ does not take out 164 today, my name is Britney Spears" - cesarnc, May 18th

Hello Britney, looks like you can go back to being Cesar now. LOL.
Yes, thank you... But first thing after 164.00 comes talkings of targets 164.40

Although the talked "barrier" at 164 is in full effect, EU was the looser after all, while UJ was refuled at the 121.30 bottom...

So I'm keeping the EJs
  • #13,460
  • May 23, 2007 11:22am May 23, 2007 11:22am
my long position got stopped out. i think the brokers are after me.

i wonder what the SEC is going to do about this. truly unbelievable.
BAM BAM BOOM! -bravado
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