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Cable Update (GBPUSD)

  • #28,521
  • Sep 3, 2007 4:58am Sep 3, 2007 4:58am
Quoting cesarnc
That's it for me, I'm out...

Trading 0212 to get back below previous resistance. Exactly the scenario I was dismissing...

Thanks cable... Get you another time....
Seems to be bouncing off the bottom of a rising 1 hour channel @ 2.0164
To laugh, to learn, and to teach!
  • #28,522
  • Sep 3, 2007 5:02am Sep 3, 2007 5:02am
Quoting ClockTrader
there you go

if there was no US holiday 2.0160 would be a good place to add another long...

but i am not sure.

at this hour i expect 2.0190
risky business
give me my pips back...
  • #28,523
  • Sep 3, 2007 5:03am Sep 3, 2007 5:03am
Quoting myles
Seems to be bouncing off the bottom of a rising 1 hour channel @ 2.0164
Whatever... I want to trade this breakout, not scalping B.S. Cable is off the highs by 50 pips in a day that liquidity is off the table. Being this way, every move goes exacerbated. Thought it would exacerbate to the upside, like Europe did on Friday. Bad call. Loss swallowed. But low-0200 area is still my entry point. Gotta decide which price, though...

Also London hour failed Frankfurt open price and it's hanging -20 from it. When this happens, I usually go for continuation. London usually U-turns Frankfurt to the upside or fails and sink... Again usually... But the usual seems to be off the table today also
  • #28,524
  • Sep 3, 2007 5:07am Sep 3, 2007 5:07am
Quote
if there was no US holiday 2.0160 would be a good place to add another long...

but i am not sure.

at this hour i expect 2.0190
risky business

Most prolly its hitting SLs hard of the people who were long, it may get more fierce while doing so. The Cable will definitely try to shoot after a dip BUT then the key question is, will there be buyers down there in the US session with huge pockets ?

If it gets overbought, it'll stay down there, rest is future, so lets wait and watch.
Hello World!
  • #28,525
  • Sep 3, 2007 5:09am Sep 3, 2007 5:09am
Quoting hoezhiens
dd33: just pm you...
Replied
  • #28,526
  • Sep 3, 2007 5:13am Sep 3, 2007 5:13am
And... we are back to the 170-180 resistance.. support.. resistance.. support.. resistance.. -whatta hell dont care anymore- again..
  • #28,527
  • Sep 3, 2007 5:14am Sep 3, 2007 5:14am
these are the levels that i believe the cable will bounce today...

Also you can see my stupid long entry above 2.0190...
not stupid but forgot the US holiday...

i cant see the pair closing below 2.0160 though...
i hope that wont be the scenario
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 17 KB
give me my pips back...
  • #28,528
  • Sep 3, 2007 5:16am Sep 3, 2007 5:16am
Quoting dd33
And... we are back to the 170-180 resistance.. support.. resistance.. support.. resistance.. -whatta hell dont care anymore- again..
2.0170 is a good support now
give me my pips back...
  • #28,529
  • Sep 3, 2007 5:23am Sep 3, 2007 5:23am
Today is very dull i am long again at 2.0175 with 50 pip stops and target at 150 pips to 2.05xx by the end of this week....
  • #28,530
  • Sep 3, 2007 5:24am Sep 3, 2007 5:24am
Well, just refreshed the strategy...

- I'm buying 0220 1/4 of desired position, SL 0100 (emergency) / will cut manually if breaches 0150 afterwards. Will add on breach of 0230, depending on the speed. Actually not seeing this trade for today.

- I'm buying 0150 if coming from below, SL 0100 and this trade will couple with the previous if happens first.

- Not shorting or scalping this market.
  • #28,531
  • Sep 3, 2007 5:28am Sep 3, 2007 5:28am
Quoting cesarnc
Well, just refreshed the strategy...

- I'm buying 0220 1/4 of desired position, SL 0100 (emergency) / will cut manually if breaches 0150 afterwards. Will add on breach of 0230, depending on the speed. Actually not seeing this trade for today.

- I'm buying 0150 if coming from below, SL 0100 and this trade will couple with the previous if happens first.

- Not shorting or scalping this market.
shorting might not be a scalp if it drop it's gonna drop hard for major pips.
If I Go Broke Trying Then I Will die happy.
  • #28,532
  • Sep 3, 2007 5:33am Sep 3, 2007 5:33am
pip after pip. a pro
.
  • #28,533
  • Sep 3, 2007 5:36am Sep 3, 2007 5:36am
Regarding to US holiday than maybe today cable didn't make much move..
I think cable still ranging at 2.0232 (fib 0%) to 2.0095 (fib 23.6% 2.0232;1.9652)
To be or not to be, that's the question
  • #28,534
  • Sep 3, 2007 5:39am Sep 3, 2007 5:39am
Cable is like a 105 year old lady... zzzzzzzzzzZZZZZZZZZZZZZzzzzzzzzzzzzzz
.
  • #28,535
  • Sep 3, 2007 5:41am Sep 3, 2007 5:41am
Quoting Moe
shorting might not be a scalp if it drop it's gonna drop hard for major pips.
In this case I prefer buying bounce off bottom. I'm not desperate to make pips today

What I don't want is to miss a strong move up wherever it starts from. I missed tons of pips in the last bull run to 0650 by grabbing small profit at a time instead of having a clear target and let profits run.

As I was forced to reduce my size due to the loss, I'm not setting the target at raw 0450 as I did before.... Less size, I must have the skill of taking profit as higher as possible.

That is... I still trust in the long term trend as it's not yet denied (Cable still above 50% fib of 9622 - 0652)
  • #28,536
  • Sep 3, 2007 5:42am Sep 3, 2007 5:42am
Quoting cesarnc
Well, just refreshed the strategy...

- I'm buying 0220 1/4 of desired position, SL 0100 (emergency) / will cut manually if breaches 0150 afterwards. Will add on breach of 0230, depending on the speed. Actually not seeing this trade for today.

- I'm buying 0150 if coming from below, SL 0100 and this trade will couple with the previous if happens first.

- Not shorting or scalping this market.
IMO, I agree with the above
  • #28,537
  • Sep 3, 2007 5:44am Sep 3, 2007 5:44am
Quote
Cable is like a 105 year old lady... zzzzzzzzzzZZZZZZZZZZZZZzzzzzzzzzzzz zz

I won't be surprised if it keeps moving sideways, pray for some action
Hello World!
  • #28,538
  • Sep 3, 2007 5:48am Sep 3, 2007 5:48am
By the way for the cable as far as the 7 year price action is concerned the probability to go higher than lower was always greater than 50%... Just to backup cesarnc and give to myself a bit more headaches
.
  • #28,539
  • Sep 3, 2007 5:48am Sep 3, 2007 5:48am
Wrong day to be in a position folks, it's going to be snaking sideways all day long.
  • #28,540
  • Sep 3, 2007 5:49am Sep 3, 2007 5:49am
The only action happens when the 105 old lady goes to the toilet.
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