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Cable Update (GBPUSD)

  • #15,001
  • Jun 15, 2007 6:59am Jun 15, 2007 6:59am
Seems that this week will close with a funny range (126 pips)
  • #15,002
  • Jun 15, 2007 7:11am Jun 15, 2007 7:11am
Mixed news. Uncertain moves. No direction... as far as I am concerned. I am outa here for the week. Good luck everyone!
  • #15,003
  • Jun 15, 2007 7:26am Jun 15, 2007 7:26am
Love it, got into a buy on the Cable after the Neg. Consumer Sentiment on the USD and I'm riding a nice 20 pip gain so far. only traded once this week for a small loss so hopefully I'm gonna close this for a gain.



edit: out. taking the 20 pips and running. Calling it a week with cesarnc
“Past performance is not indicative of future results”
  • #15,004
  • Jun 15, 2007 7:26am Jun 15, 2007 7:26am
Quoting cesarnc
Ah, whatta hell... Added 9741, TP 9770, SL 9723.... bring it on
Out at 9756... Getting greedy now...

Calling it a week...
  • #15,005
  • Jun 15, 2007 8:02am Jun 15, 2007 8:02am
Closing longs at 1.9769 which was my target (cable still looks bullish but better take profits whilst you have them!)

4 hour chart shows 38.2% retrace was my target, damn fine things fibs
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 11 KB
  • #15,006
  • Jun 15, 2007 8:19am Jun 15, 2007 8:19am
Quoting pino2
Seems that this week will close with a funny range (126 pips)
Sorry it is 132 pips (as if it matters):
high was 1.9781 low was 1.9649 at present
I mentioned at the begining of this week that 1.9646 is the key for the cable to go down, but cable only reached 1.9649 which means that for the rest of the week the cable must be going up since 1.9646 is not broken, so I was right in this point
  • #15,007
  • Jun 15, 2007 8:35am Jun 15, 2007 8:35am
I'm now scalping the hourly pivots, sell @ 1.9777 TP1.9755 SL @ BE
  • #15,008
  • Jun 15, 2007 8:40am Jun 15, 2007 8:40am
short @ 1.9776, sl @ 1.9786.
Nihil Sine Deo.
  • #15,009
  • Jun 15, 2007 9:07am Jun 15, 2007 9:07am
Long @ 1.9761, sl @ 1.9750.
“Past performance is not indicative of future results”
  • #15,010
  • Jun 15, 2007 9:55am Jun 15, 2007 9:55am
i'm out with +5 pips, don't wanna wait anymore.
what a glorious range this week had, 132 pips.
Nihil Sine Deo.
  • #15,011
  • Jun 15, 2007 9:59am Jun 15, 2007 9:59am
out just now with 11+.
I don't think risking another 3 or 5 is worth the rest of my day when I could be out doing something.
have a good weekend everyone
“Past performance is not indicative of future results”
  • #15,012
  • Jun 15, 2007 11:16am Jun 15, 2007 11:16am
Thats how I see it in the moment:
1. Price bounced once at 50% from big move down. Now its heading to 61.8% at 1.9819.
2. Last channel were price was in would be resistance at 1.9830.
3. Wave count: After big move down an ABC move is following, with a higher C than A.

After reaching pirce of around 1.9830 I expect a fall down to 1.9590 and more to continue the downward trend and breaking out of the diamond formation.
Attached Image
  • #15,013
  • Jun 15, 2007 11:32am Jun 15, 2007 11:32am
I was short @ 1.9777 and closed @ 1.9755 as targeted
Have a nice weekend
  • #15,014
  • Jun 15, 2007 1:11pm Jun 15, 2007 1:11pm
Quoting Scrat
i'm out with +5 pips, don't wanna wait anymore.
what a glorious range this week had, 132 pips.
It's off the 50 SMA as usual, downtrend..etc. You don't think it will resume down for another 50 pips, say?
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #15,015
  • Jun 15, 2007 1:36pm Jun 15, 2007 1:36pm
yes, below 1.9700 on monday.

Quoting Plutonite
It's off the 50 SMA as usual, downtrend..etc. You don't think it will resume down for another 50 pips, say?
Nihil Sine Deo.
  • #15,016
  • Jun 15, 2007 2:44pm Jun 15, 2007 2:44pm
Keys for next week are 1.9676 short if broken, and 1.9822 long if broken, and 90% both numbers will be seen next week (which rarely happens that both keys can been seen in the same week), this is for the next week

But keys for Monday are 1.9699 short if broken, and 1.9799 long if broken

The numbers of Monday and the week are too close this time, this is due to the small range that happened this week which was 132 pips only
  • #15,017
  • Jun 15, 2007 3:26pm Jun 15, 2007 3:26pm
Quoting pino2
Keys for next week are 1.9676 short if broken, and 1.9822 long if broken, and 90% both numbers will be seen next week (which rarely happens that both keys can been seen in the same week), this is for the next week

But keys for Monday are 1.9699 short if broken, and 1.9799 long if broken

The numbers of Monday and the week are too close this time, this is due to the small range that happened this week which was 132 pips only

Yea we could be stuck in this range again next week. We really only have two events to look forward to. Housing numbers and MPC minutes. I hope it breaks either way, otherwise it could be another scalping week.
  • #15,018
  • Jun 15, 2007 4:03pm Jun 15, 2007 4:03pm
Quoting Turtle
Yea we could be stuck in this range again next week. We really only have two events to look forward to. Housing numbers and MPC minutes. I hope it breaks either way, otherwise it could be another scalping week.
I will be a rock'n'roll week in Canada
  • #15,019
  • Jun 15, 2007 8:00pm Jun 15, 2007 8:00pm
Quoting cesarnc
I will be a rock'n'roll week in Canada

So what are your thoughts about it???
  • #15,020
  • Jun 15, 2007 8:12pm Jun 15, 2007 8:12pm
Quoting cesarnc
I will be a rock'n'roll week in Canada
I see what you mean, I just checked out the news events for next week.

Will do some studying this weekend and then learn something new next week.
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