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Cable Update (GBPUSD)

  • #28,441
  • Sep 2, 2007 7:43am Sep 2, 2007 7:43am
Quoting Turtle
I see...you are going up to the batter's box to possibly hit a homerun..and if you get fooled on a curve ball...so what...you were looking for a fastball anyway.

And you think you see one coming.......this is a chance for you to "GO DEEP"..................

Hey, go all in.....you know when the trade isn't working and will let it hit the S/L button. And then you can at least say...you took a stab at it......:



This is going to be another fun week........
Exactly!

Hey, I've seen cable shooting 800-900 pips up in a matter of weeks more than once. Never occured me, however, to risk a nice r:r at the bottom to boost the profit to the mad level. Aways the old good "risk you 2%, gimme 2%". LOL...

If cable is not going to shoot up this week, it will eventually. By then I'll have the loss recovered and will put that damn trade in again

And hey! I'm not calling any big deal bold monstrous target here! 0450 is 200 pips below last high... Nothing crazy about it.
  • #28,442
  • Sep 2, 2007 9:08am Sep 2, 2007 9:08am
Eight hrs to go, my clock is ticking, lets see what ending US session has for us and what London bell has in its kitty for us, hope some decent movement by NY morning(mon) to get the week rolling.

Wish ya all a Happy and Rocking week ahead with load of pips
Hello World!
  • #28,443
  • Sep 2, 2007 10:18am Sep 2, 2007 10:18am
Quoting ClockTrader
Eight hrs to go, my clock is ticking, lets see what ending US session has for us and what London bell has in its kitty for us, hope some decent movement by NY morning(mon) to get the week rolling.

Wish ya all a Happy and Rocking week ahead with load of pips
It's a holiday in US on Monday, clock

We can expect all but a decent move...
  • #28,444
  • Sep 2, 2007 11:38am Sep 2, 2007 11:38am
Quote
It's a holiday in US on Monday, clock

We can expect all but a decent move...

yeasss, the FX will keep working irrespective of the holiday there in US

I'm just expecting mon n tue. to be some sort of happening days, some decent moves, moreover I think typical FX addicts there(incl me here) shall be around.

so, lets just be prepared for some action during European session as well as
US session.

I'll hit the bed now and hope its kicking by the time I wake up in
8 hrs, hope you guys would want a nap too so you can keep pace with the London session.

Have a nice day !
Hello World!
  • #28,445
  • Sep 2, 2007 1:36pm Sep 2, 2007 1:36pm
GBPUSD is forming a sideways consolidation in a range between 1.9621 and 2.0652. Further rise towards 2.0350 to reach the next cycle top on daily chart is still possible. Near term support is at the up trend line from 1.9652 to 1.9959 and followed by 1.9959, only break below 1.9959 level will signal the reversal to the current trend. For long term analysis, GBPUSD is in correction to the long term up trend, and further fall towards 1.9400 to reach the next cycle bottom is still possible in a couple of weeks.
If I Go Broke Trying Then I Will die happy.
  • #28,446
  • Sep 2, 2007 4:58pm Sep 2, 2007 4:58pm
I called the last week since it started "the zigzag week"
This week, I have a feeling that we can see cable saying "You go your way and I'll go mine", I hope I'm wrong, since I've prepared for an amazing journey to north this week and I'm inviting the cable to join me
Cable I've sent you the invitation, it would be my pleasure if you accept it, it's a one way trip to north, we are going to spend the whole week there, maybe you need to be prepared first by going a few pips down to collect your bags, during this trip we could visit some good and interesting places like the ISM Manufactoring, GBP interest rates, and we could attend together the ECB President Trichet speaks and on Friday we could end up by visiting the NFP, I'm your toursit guide in this trip, so please follow me, I hope you will enjoy your stay
But I'm afraid that I found you saying at the last minute "You go your way and I'll go mine"
But in order to be sure that you are my partner in this trip, I'll step by with you until you finish packing your stuff and get ready for the trip
  • #28,447
  • Sep 2, 2007 5:19pm Sep 2, 2007 5:19pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting pino2
I called the last week since it started "the zigzag week"
This week, I have a feeling that we can see cable saying "You go your way and I'll go mine", I hope I'm wrong, since I've prepared for an amazing journey to north this week and I'm inviting the cable to join me
Cable I've sent you the invitation, it would be my pleasure if you accept it, it's a one way trip to north, we are going to spend the whole week there, maybe you need to be prepared first by going a few pips down to collect your bags, during this trip we could visit some good and interesting places like the ISM Manufactoring, GBP interest rates, and we could attend together the ECB President Trichet speaks and on Friday we could end up by visiting the NFP, I'm your toursit guide in this trip, so please follow me, I hope you will enjoy your stay
But I'm afraid that I found you saying at the last minute "You go your way and I'll go mine"
But in order to be sure that you are my partner in this trip, I'll step by with you until you finish packing your stuff and get ready for the trip
Is this journey available with first class tickets, i would like to purchase one, I trust the tour guide brings a sense of humour. i will pack for the long haul.
  • #28,448
  • Sep 2, 2007 5:56pm Sep 2, 2007 5:56pm
Quoting MPP
Is this journey available with first class tickets, i would like to purchase one, I trust the tour guide brings a sense of humour. i will pack for the long haul.
People who would like to join this trip can apply for the visa @ 2.0237, and for aggressive travellers they can apply @ 2.0194 with SL @ 2.0158, and people who will join @ 2.0320 will get free tickets
  • #28,449
  • Sep 2, 2007 6:01pm Sep 2, 2007 6:01pm
But be careful as I mentioned earlier that I'm afraid that cable might tell us you go your way and I'll go mine, cable cannot be trusted this week, except if it gives a clear view
  • #28,450
  • Sep 2, 2007 6:23pm Sep 2, 2007 6:23pm
I think it may finish packing its bags aroound the 2.0120...Got any Ideas?
  • #28,451
  • Sep 2, 2007 7:23pm Sep 2, 2007 7:23pm
Quote
aggressive travellers they can apply @ 2.0194 with SL @ 2.0158

this is crazy, SL only few pips away ? DAANNGGGGG !!!!
Hello World!
  • #28,452
  • Sep 2, 2007 7:31pm Sep 2, 2007 7:31pm
This week we can only see price go up to 2.0450, not more than that.
  • #28,453
  • Sep 2, 2007 7:43pm Sep 2, 2007 7:43pm
Excellent point - US treasury on holiday so no help from there. Thanks for the heads up, and good luck!

Quoting cesarnc
I agree with you. But if my premises are good, this trade has a 1:6 risk reward and I'll go in such a size to lose 16% or double the account.

If I loose 16% it will be fast, so no much time for misery here. I'll take the next trade

If I'm partially right, this Sl will reach B/E fast. So the trade will be already a zero risk. And if 0450 is not a good call, I will get out fo the trade with 16% profit, which is not that bad.

False breaks happen a lot, but I never saw one false break like Friday's. There was a lot of momentum push upwards. The problem was that Treasurys started moving and dollar was push up when NY kicked in.

What I mean is, the breakout was killed by another factor on the move. And this factor will be off the table on Monday. If the broadly called armaggedon selloff in NY will take place in September, I hope my SL to be locking 16% profit already, by Tuesday . And yet in this situation I'll be locking 5x my usual target profit.

The main question is whether or not cable will trade 0210 and then will get back to 0170. I consider that possibility as existent but not prevailing (otherwise I would short at 0210 instead, right)?

0450 is a line in the sand here. It will be the market who's gonna tell me how much I'll profit out of it.

And on the question about if I think it will go up or down. There is no such thing. We have to have a plan in case it goes up or down. This is my strategy if it goes up. If it goes down, I'm a scalper waiting for a bottom to be put and another r:r for longs like this emerge.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #28,454
  • Sep 2, 2007 7:46pm Sep 2, 2007 7:46pm
Nice week to all. I'd love to get here by London at 0350

Way tooooo much 2.01XX trading B.S IMO...:
  • #28,455
  • Sep 2, 2007 8:03pm Sep 2, 2007 8:03pm
Quote
False breaks happen a lot, but I never saw one false break like Friday's. There was a lot of momentum push upwards. The problem was that Treasurys started moving and dollar was push up when NY kicked in.

I thought over buying of cable lead to those chaos, my feeling, the whole world started to buy cable on friday after it flew threw .0190
Hello World!
  • #28,456
  • Sep 3, 2007 12:49am Sep 3, 2007 12:49am
thread looks too silent, I don't think all of u have gone to sleep
Hello World!
  • #28,457
  • Edited 2:54am Sep 3, 2007 1:02am | Edited 2:54am
hello everyone, here is my analysis for today on gbp_usd

http://www.trading-fx.si/forum/privatslike/fx19.gif
  • #28,458
  • Sep 3, 2007 1:06am Sep 3, 2007 1:06am
don't look like the boys or comming out and trading today.
If I Go Broke Trying Then I Will die happy.
  • #28,459
  • Sep 3, 2007 1:08am Sep 3, 2007 1:08am
Quote
don't look like the boys or comming out and trading today.

Lets be around and pump some life here...

Hello World!
  • #28,460
  • Sep 3, 2007 1:14am Sep 3, 2007 1:14am
money got this page all f:ck up.
If I Go Broke Trying Then I Will die happy.
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