Cable Update (GBPUSD)

My long at 9800 was taken out by what looks like profit-taking shortly after London opened, driving price down through support at 9760 to 9727. Looks like cable is now ranging between 9780 and 9795, looking to break.....long? Other than UK construction index couple of hours ago, no more news announcements.

I'm waiting the price break 9825 after that i will long for some 50 pips.currently i have 1 open position.long @ 9871.today ranging market look good to me.20-30 profit still ok.as i type the profit still 15 pips.good trade everyone.well not every one since who will lose if everybody win. cheers

Well i'm sorry mistype.my open position 1.9771.

Cheers

Folks,...today some predict strong buy!

Buy at <SIGNAL>1.9750</SIGNAL>. Strengthen your line when <CONF>1.9845</CONF> bypassed for a target at <TARGET>2.0000</TARGET>. Close the trade whenever <STOP>1.9700</STOP> is penetrated.</PREFERENCE>

the pound did retrace all the way to with in 7 pips of 61.8 I just took my stops figured I was in for the long haul. No day trading stuff huh . I did close out one of my orders and took profits still have two in.

This is from FXCM

. Sterling is backing away from Friday"s 14-year highs and looks to be
following EUR/USD through stop loss orders. The Dollar is recovering across the
board as the ISM data impact loses its grip on the US unit. The Dollar index is
currently at session highs of 82.74 having dipped to 82.31, a new low, earlier
in the session.
The theme of a weakening US economy is unlikely to leave the market any time
soon and the prospects of easier US money in 2007 will continue to lean on the
Dollar. Rate differentials will be the main currency driver into the end of the
year and with hawkish undertones to the ECB policy stance Cable will no doubt be
taking its lead from EUR/USD. This week is also packed with interest rate
decisions, including the BoE-MPC announcement on Thursday. Short Sterling
contracts are higher again, reflecting the "soft sales" fear for UK retailers.
Rates are expected to stay at 5.0% in the UK but a move by the ECB has been
factored.
GBP/USD currently trades at 1.9775 having dropped almost a big figure from
Friday"s top in early Monday trade. Talk of stops tripped at 1.9795 and further
orders touted under 1.9750. The market looks like 1.9700 to 1.9800 on the wide
with risk of another foray to the topside. [email protected]

Technically not orders but open positions

Just curious whats your plan now are going to go long again. I hate to see anybody get stopped out unless they have some profits.

I am short with SL 1.9830, 1st target 1.9650. Let's see how it goes..

This came from Kathy Lien of Fxcm



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News from the Desks of Boris and Kathy What will Happen ~~~~~~~~~~~this Week in FX?
December 04, 2006 EMAIL TIME: 4:30 am EST ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Dear Tom,

Many of you have wondered what’s happened to BKTraderFX signals. Rest assured the signals will be back but have been inordinately busy preparing for FXCM expo next Friday, Saturday and Sunday in Vegas. Since we’ll be on the road this week, our ability to follow markets intensely will be curtailed significantly so we may only be able to send out 1 or 2 signals this week.


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Everyone wants to know if this anti-dollar rally continues or not. The greenback is grossly oversold and due for at least a small bounce as evidenced by the bounce tonight. However, only a strong positive surprise in ISM Services or US NFP could turn the sentiment in dollars favor and while NFP are notoriously difficult to handicap the preponderance of evidence suggests that US job growth will be tepid. One other factor could help the dollar this week – surprise “no-hike” announcement from the ECB. How probable is that? Not very. But if the EZ Central bank decided to hold off on tightening until January, the EUR/USD – already doped up like junkie on amphetamine – would fall hard given the market’s near universal anticipation of a hike. to 1.06 indicating that demand may have peaked. The troubling aspect of the Japanese data IS that jobs are not translating into stronger consumer spending. With overall household spending still –2.4% less than a year ago and with CPI increasing a very modest 0.1% rate the BoJ finds little reason to raise rates just yet. Meanwhile here is an interesting to technically gauge the true strength of the trend.

1. Use hourly charts
2. Lay a long term Simple Moving Average (200 periods)
3. Put on two sets of Ballinger Bands (2 Standard Deviation and 3 Standard Deviation) on the chart.

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http://ih.constantcontact.com/fs065/...=1101475034295 The currency is in a strong uptrend if the BB bands levitate above the 200 SMA. That’s because the retracements in the currency are so shallow that they never even come close to touching the long term 200 SMA. Furthermore a bounce out of the lower BB band represents a good risk/reward trade to go with the trend.


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http://ih.constantcontact.com/fs065/...=1101475034295 But beware! If the BB bands and 200 SMA begin to intersect, no matter what anyone says, the trend is weakening and is quite likely no longer your friend. To see just how fast things can unravel we are attaching the same setup in EUR/USD from January of 2005. Either way, we hope this is some food for thought as the week starts.


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hmm..Interesting.FXCM is a big company.how can they left their costumer by reason having an expo?.I think Kathy is not the only one on that company that able to make prediction.hmm somebody already make a quick view of their method?

anybody trading forex by looking the market deph in futures currency?!

does that have the inluence at forex at all?

you short?? how do you know the price going down?? think twice man.. our friend jus say "the high it goes the harder it will down" and also the trend still going up..

Well the first 4H candle opened just below the Mouteki demand line in my charts, plus it was preceded by a DBHLC. MACD is slopping down and volume is dropping, these to me are short signals.

It seems about to break out anyway, so soon we will know which way it will be

at what price you short?

does mouteki method works at this market condition?

At 1.9782. Now just opened a tiny long on GBP/CHF with a small SL, just for fun. Target 2.3790.

Mouteki works on all market conditions but it may take several days to give a signal.

Mouteki - on the majors I get 1.5-2 signals per week on average.

Just got a short signal on cable, but I am not convinced that it really is going down yet and may wait till end of day to see whether we have a pinbar on daily chart (I use both Mouteki and James16 and with some discretion)

In my opinion, a dangerous time to be shorting. Sure it will come back down at some point but i prefer to wait until it is confirmed rather than take on a risky short now.

I'm currently flat so wish you luck

M

Well yes, dangerous because the overall trend is for sure upwards. But then again, I got price action and mouteki giving me short signals now plus it is a day with no significant news, good for a quiet correction

yes, and...

I also have Bago and Sidus indicators on my H1 chart which use after I have a signal on H4 and/or D1 and the 'tunnel' is still wide which often means that the trend is not finished

So, all shorts be careful and don't have a huge SL, you may be gambling at this point