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Cable Update (GBPUSD)

  • #18,901
  • Jul 16, 2007 5:14am Jul 16, 2007 5:14am
Quoting cesarnc
you got it... But I can see 1.1900 sweating down there already
It's coming alright
  • #18,902
  • Jul 16, 2007 5:15am Jul 16, 2007 5:15am
Nice continuation entry on 5min off 200 EMA
Attached Image (click to enlarge)
Click to Enlarge Name: 5min jly 16.jpg Size: 45 KB
Trading Levels with WRBs
  • #18,903
  • Jul 16, 2007 5:16am Jul 16, 2007 5:16am
Quoting cesarnc
Just shorted Swiss at 1.2000, all or nothing. If it goes, it goes bad..... 1.16?
not sure of this move.....
  • #18,904
  • Jul 16, 2007 5:17am Jul 16, 2007 5:17am
Quoting WTB
You're selling support mate. How come you didnt wait for the breakout of such support?
I'm taking my chances. This is 5th assault to 1.2000. I'm adding on breakout or reversing to long for a very nice R:R above 1.2050.

One way or the other, in all pairs, we are having a nice move. But I prefer to be in.
  • #18,905
  • Jul 16, 2007 5:19am Jul 16, 2007 5:19am
Quoting cesarnc
you got it... But I can see 1.1900 sweating down there already
They should've.. after cracking 1.20 they are in the first line of defense..
  • #18,906
  • Jul 16, 2007 5:20am Jul 16, 2007 5:20am
Quoting cesarnc
I'm taking my chances. This is 5th assault to 1.2000. I'm adding on breakout or reversing to long for a very nice R:R above 1.2050.

One way or the other, in all pairs, we are having a nice move. But I prefer to be in.
Ah alright, you're definitely more aggressive in your trading than me. This is my trade plan for USDCHF: http://www.forexfactory.com/showpost...7&postcount=89
  • #18,907
  • Jul 16, 2007 5:22am Jul 16, 2007 5:22am
Quoting cesarnc
I'm taking my chances. This is 5th assault to 1.2000. I'm adding on breakout or reversing to long for a very nice R:R above 1.2050.

One way or the other, in all pairs, we are having a nice move. But I prefer to be in.
pssstt.. guys.. i think cesarnc is losing his patience again..
  • #18,908
  • Jul 16, 2007 5:24am Jul 16, 2007 5:24am
Come on Cable.. I want to see the 360 then 330
Come on ...
  • #18,909
  • Jul 16, 2007 5:26am Jul 16, 2007 5:26am
Quoting ndvt241
Come on Cable.. I want to see the 360 then 330
Come on ...
its coming to ya......i better push harder....
  • #18,910
  • Jul 16, 2007 5:37am Jul 16, 2007 5:37am
Quoting cesarnc
If you guys allow me my 2 pips:

Key figures across the board are
Cable 0364 (triple top)
Euro 3800 (failed to sustain above)
Swiss 1.2000 (extremely important figure)
Yen 122.00 (zillion tests to push downwards, failed)

Break of those levels against the dollar can refuel dollar selling interest.

Otherwise, they are very very nice candidates for toppish in the short term (weeks). Then I'll start looking for 9980s as final target for a possible correction (50% fib last bull run from 96XX to 0364)
That was Saturday I think? ;p

Quoting cesarnc
I stopped the short and reversed to long at 0373. Now SL at 0360. Going cautious on this one, 'til at least 0420 if such. Euro and swiss still having hard time at 3800, 1.2. Didn't put new highs against the dollar, yet.
Monday

Cesarnc, I thought after all the jacko hype etc pp you stopped fighting the trend!

My point is - even if you're unsure of where things are going, deciding on a single direction and waiting until setups come along to enter in that direction is a much more money saving way of trading than flipflopping(reversing your position 1-10 times inside of the same day/week).

I dare say this because that exact thing is what burnt far too much of my own profits

So I'm trying to prevent others from doing the same thing *g*

Trade with the trend, wait for pullbacks, have patience. Path of least resistance *g*
Trust price. Know yourself.
  • #18,911
  • Jul 16, 2007 5:42am Jul 16, 2007 5:42am
Quoting SeekingLight
That was Saturday I think? ;p



Monday

Cesarnc, I thought after all the jacko hype etc pp you stopped fighting the trend!

My point is - even if you're unsure of where things are going, deciding on a single direction and waiting until setups come along to enter in that direction is a much more money saving way of trading than flipflopping(reversing your position 1-10 times inside of the same day/week).

I dare say this because that exact thing is what burnt far too much of my own profits

So I'm trying to prevent others from doing the same thing *g*

Trade with the trend, wait for pullbacks, have patience. Path of least resistance *g*
And dont forget to wait for confirmation before getting a position
  • #18,912
  • Jul 16, 2007 5:44am Jul 16, 2007 5:44am
Quoting SeekingLight

Cesarnc, I thought after all the jacko hype etc pp you stopped fighting the trend!
Yeah, but with this "never fight the trend" I use to burn by profits by buying pullbacks during corrective periods. Although CAble breached 0364, it was the onlyl one placing new highs and Euro lies at the top of a massive trendline starting 2006. So, still, my view is that this push upwards is about to start correcting, unless euro push to 3850 minimum and hold it for days.

For long positons in Cable and Euro, I'm very, very cautious right now.
  • #18,913
  • Jul 16, 2007 5:52am Jul 16, 2007 5:52am
Quoting cesarnc

For long positons in Cable and Euro, I'm very, very cautious right now.
I agree wit ya....100%.....smart....Time the Wave.
  • #18,914
  • Jul 16, 2007 5:58am Jul 16, 2007 5:58am
Quoting cesarnc
Yeah, but with this "never fight the trend" I use to burn by profits by buying pullbacks during corrective periods. Although CAble breached 0364, it was the onlyl one placing new highs and Euro lies at the top of a massive trendline starting 2006. So, still, my view is that this push upwards is about to start correcting, unless euro push to 3850 minimum and hold it for days.

For long positons in Cable and Euro, I'm very, very cautious right now.
I hear that...looking to t/p @0400 and then send one solider north with a target of 0450.

btw...any reason why the commentary has not been working????
  • #18,915
  • Jul 16, 2007 6:01am Jul 16, 2007 6:01am
Quoting cesarnc
Yeah, but with this "never fight the trend" I use to burn by profits by buying pullbacks during corrective periods. Although CAble breached 0364, it was the onlyl one placing new highs and Euro lies at the top of a massive trendline starting 2006. So, still, my view is that this push upwards is about to start correcting, unless euro push to 3850 minimum and hold it for days.

For long in Cable and Euro, I'm very, very cautious right now.
exactly, and all who are so deam sure that this is unbrakable wawe, look in to the history. I mean man how serious you must be to feel comfort with long position just at the top/lil bit over daly res. thats gambling 100%. i can break or retrace noone actually nows that
  • #18,916
  • Jul 16, 2007 6:10am Jul 16, 2007 6:10am
This week's CPI and Minutes will be key for the next weeks, imo. With the recent hike and CPI confirming its downtrend (3.1/2.8/2.5/2.3-forecast), the upside is in jeopardy.

BTW, I TP'd 3/4 Cable and cut Swiss here.... Want to see how NY is coming to resume.... Didn't like Euro not making it above 3800.
  • #18,917
  • Jul 16, 2007 6:11am Jul 16, 2007 6:11am
Quoting ratman
exactly, and all who are so deam sure that this is unbrakable wawe, look in to the history. I mean man how serious you must be to feel comfort with long position just at the top/lil bit over daly res. thats gambling 100%. it can break or retrace no one actually nows that
Exactly.. both long and short positions are facing the same dilemma.. so IMHO MM is the major key to play this situation here.. bring it on!!!!!!!!
  • #18,918
  • Jul 16, 2007 6:13am Jul 16, 2007 6:13am
well, my take on this is that we are now at the 127.2 level based on the 1 hr chart, we have dithered around here for over an hour now and probably wont do a great deal until after the NY open. If we do push on my next target would be 2.0430 ( 161.8).

If we go south 1st stop is the old res level at 2.0360 and then 2.0330(ish)
  • #18,919
  • Jul 16, 2007 6:21am Jul 16, 2007 6:21am
whats the problem with u ppl,...
-Untill bush ends the war on teror its bearish
-untill those troops aint home its bearish
-untill the us dont feel safe by its own, its bearish
-untill 2.0366 and 1.366 holds its bearish
-until gold 666 holds its bearish
-until average WTI & BRent 76 holds its bearish
... ...the devil has spoken...
gambling huh, and the interest might be raised by 0.25 by EUR & GBP, at casino there is noone who will say, it might be red, here it do...and when i play red or black, i always play RED, just like here i play RED on USD...from now on,...ill be quite.
its just money
  • #18,920
  • Jul 16, 2007 6:28am Jul 16, 2007 6:28am
tired .. this is playing up and down ... should go up and up ....
byebye costly moments.
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