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Cable Update (GBPUSD)

  • #28,921
  • Sep 4, 2007 12:40pm Sep 4, 2007 12:40pm
Quoting ClockTrader
I'm tired and little disappointed ! WHY THE HELL do I commit same mistakes again and again ? I've been in this biz for an ~year now, but yet to get rid of GREED, it sucks like anything.

anyways, tomorrow is another day, hope all good to everyone here.

God Bless All !!!

Good Night / Day to everyone !!!
Hope you learn from your mistakes, and I wish you success in your future trades

I hope bullrock to miss reading this post
  • #28,922
  • Sep 4, 2007 1:24pm Sep 4, 2007 1:24pm
Just got back. Freaking SL triggered at B/E and no winners no losers...

Cable testing the trendline it took out today and I'm clueless about what is it going to do about it...

I'm not going to short at this price after the bounce or long here below the trendline....

Euro also took several hours to crack 3600 and now it's back above it...

I am absolutely clueless about all pairs, no exception LOL....
  • #28,923
  • Sep 4, 2007 1:30pm Sep 4, 2007 1:30pm
Quoting cesarnc
Just got back. Freaking SL triggered at B/E and no winners no losers...

Cable testing the trendline it took out today and I'm clueless about what is it going to do about it...

I'm not going to short at this price after the bounce or long here below the trendline....

Euro also took several hours to crack 3600 and now it's back above it...

I am absolutely clueless about all pairs, no exception LOL....
I told you that this pair will act this week "You go your way and I'll go mine"
but nobody listened to what I said
even the thread now is very silent
  • #28,924
  • Sep 4, 2007 1:36pm Sep 4, 2007 1:36pm
Quoting pino2
I told you that this pair will act this week "You go your way and I'll mine"
but nobody listened to what I said
even the thread now is very silent
That's true... Goodthing I got the SL at B/E.

Headlines this morning was "stocks futures drop on concerning about economic data".

Then the data came out lame, stinking, horrible figure and the stocks soared.

Now headlikes are "wall street bullish on expectations of a rate cut"

Truth is, nobody knows what is going on, which information is important. Even a CEO today said "worst is gone" while the other said "we've seen the tip of the iceberg only"....

Go figure... Now, if this rate cut sentiment is really hitting the market, than we can see some room to the upside... But below this damn trendline and this clutch of supports/resistances in the mid-0100s, there are a Amazon like amount of woods to chop...

Decided to go Jacko's on Euro at 3612 and that will be it until cable clears this 0100... And I chickened out to long Euro 3550 because of the strength of the down move...
  • #28,925
  • Sep 4, 2007 1:38pm Sep 4, 2007 1:38pm
Also I mentioned today that 2.0137 is the key of the day, when cable broke it, it dropped down to 2.0072, and now price is above this figure, not safe for short trades, so take care from this figure till the end of the day
  • #28,926
  • Sep 4, 2007 1:41pm Sep 4, 2007 1:41pm
standing on 2.0137 for the last 2 hours or more gave no clue for what could be the next direction
  • #28,927
  • Sep 4, 2007 1:52pm Sep 4, 2007 1:52pm
Quoting pino2
standing on 2.0137 for the last 2 hours or more gave no clue for what could be the next direction
Well, staying at 0210 gave a clue and fu#@$ed us up. Cracking 0137 this morning gave a clue and fu#$@#ed us up.

I think I prefer no clue. No clue no trade no loss
  • #28,928
  • Sep 4, 2007 2:02pm Sep 4, 2007 2:02pm
It seems that majority of the people here went short, even me but I closed my short trade at 2.0090, since I felt it won't go down more, but it went down a little to 2.0072, then went up again so I opened a long trade @ 2.0087 and it is still running
  • #28,929
  • Sep 4, 2007 2:15pm Sep 4, 2007 2:15pm
Quoting pino2
It seems that majority of the people here went short, even me but I closed my short trade at 2.0090, since I felt it won't go down more, but it went down a little to 2.0072, then went up again so I opened a long trade @ 2.0087 and it is still running
Whatever you say my SL is @ 2.0160 and TP s down 1.9900 we'll see.
.
  • #28,930
  • Sep 4, 2007 2:39pm Sep 4, 2007 2:39pm
Quoting pino2
It seems that majority of the people here went short, even me but I closed my short trade at 2.0090, since I felt it won't go down more, but it went down a little to 2.0072, then went up again so I opened a long trade @ 2.0087 and it is still running
Although crazy, at least the currencies reacted as expected for a bullish stock market. Not like on Friday when the stock soared and cable / euro went down fast....

But yet, on average, the currencies (notably the carries) are far from recoverying August losses, while Dow Jones is 300 points above August open... So much for a panic/ subprime/hedge fund/recession...
  • #28,931
  • Sep 4, 2007 2:42pm Sep 4, 2007 2:42pm
Man, just got back...glad I made some profit today...

When I left DOW was around +20 and cable was around 0100...

Come back DOW is at +120 and cable is at 0141....

So where do you go from here.........

Sounds like a scalping week to me.....
  • #28,932
  • Sep 4, 2007 2:44pm Sep 4, 2007 2:44pm
The trendline that was a resistance now a support... BUT the trendline is not horizontal... no it is sloping upwards... So where do we go... In my view a bit up then down...
.
  • #28,933
  • Sep 4, 2007 2:51pm Sep 4, 2007 2:51pm
Think with me about one thing.

Everybody knows that the Japanese retailers are the biggest yen sellers to benefit their exports.

If we take a look at the last several months on UJ, we will notice that during 00:00 and 8:00 GMT (the core of Asian session), RARE are the big red H4 candles that we see during that time.

Even in the worst days, the greatest part of the times, the asian session is UJ bullish or at least neutral. Just take a look and try to find big drops in that hours.


Now, lets see. All the bullish runs that we see from asian session are completly erased in Euro and US sessions, and with that kind of "fight" is difficult to the asian session put up new highs.

However... today is maybe the first time in a long time that UJ is holding gains probably until the Asian session starts.

Will this be the trigger? Asian session will have the power to rise enough to put a new high giving the chart a bullish technical picture, good for the tech traders start to hold their trades to extend and not just until the previous high as resistance.


Well... this is all theory, i'm not trying to give this as correct, i'm just thinking loud.

Anything of this sound logical?
  • #28,934
  • Sep 4, 2007 2:51pm Sep 4, 2007 2:51pm
im still holding onto my long from 2.0105 looking to exit at 2.02 however if there is storng momentum to the upside ill keep the trade going we'll see
  • #28,935
  • Sep 4, 2007 3:00pm Sep 4, 2007 3:00pm
Quoting cesarnc
Just got back. Freaking SL triggered at B/E and no winners no losers...

Cable testing the trendline it took out today and I'm clueless about what is it going to do about it...

I'm not going to short at this price after the bounce or long here below the trendline....

Euro also took several hours to crack 3600 and now it's back above it...

I am absolutely clueless about all pairs, no exception LOL....
It is a good time to be clueless, both on the fundies side and in terms of the change in selling pressure over the weekend. I was lucky that my previous trades all got TP earlier today before the dollar dumping, invincible fib level targets..now I am clueless as well with bearish AND bullish pin bars forming on daily and H4. I have my money on the USD though. Good luck.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #28,936
  • Sep 4, 2007 3:00pm Sep 4, 2007 3:00pm
Quoting Warper
Think with me about one thing.

Everybody knows that the Japanese retailers are the biggest yen sellers to benefit their exports.

If we take a look at the last several months on UJ, we will notice that during 00:00 and 8:00 GMT (the core of Asian session), RARE are the big red H4 candles that we see during that time.

Even in the worst days, the greatest part of the times, the asian session is UJ bullish or at least neutral. Just take a look and try to find big drops in that hours.


Now, lets see. All the bullish runs that we see from asian session are completly erased in Euro and US sessions, and with that kind of "fight" is difficult to the asian session put up new highs.

However... today is maybe the first time in a long time that UJ is holding gains probably until the Asian session starts.

Will this be the trigger? Asian session will have the power to rise enough to put a new high giving the chart a bullish technical picture, good for the tech traders start to hold their trades to extend and not just until the previous high as resistance.


Well... this is all theory, i'm not trying to give this as correct, i'm just thinking loud.

Anything of this sound logical?

Like your thinking...just unsure at this moment.....

It seems once I start to figure it out, the market does a complete U-turn. I think players are not going to go too high or too low until at least Thursday's interest rate, especially the euro and Friday's NFP...
  • #28,937
  • Sep 4, 2007 3:01pm Sep 4, 2007 3:01pm
Quoting Warper
Well... this is all theory, i'm not trying to give this as correct, i'm just thinking loud.

Anything of this sound logical?
What bothers me about UJ for the medium term is the weekly 100 EMA. UJ took 2 weeks to crack in on the way down and retested it once from bottom up. Now at 117.22. This EMA will be critical. Only above of it the resumption of the uptrend could be considered again. I don't trade Uj for 4 weeks already.
  • #28,938
  • Sep 4, 2007 3:18pm Sep 4, 2007 3:18pm
Quoting bullrock
Whatever you say my SL is @ 2.0160 and TP s down 1.9900 we'll see.
Bullrock, why don't you skip reading my posts if you don't like it that much, you have your own system, your own thoughts, your own views, and your own magic ball that tells you what will happen in the future and the direction as well, ok I respect all this as long as it is bringing profit to you and makes you convinced
I have my own system as well, and I'm making good money out of it and I'm convinced as well
I said earlier this week that cable is acting "You go your way and I'll go mine"
so why don't you act the same with me, just skip my posts
On the otherside, if I have something that may help, I won't hide it from you
  • #28,939
  • Sep 4, 2007 3:28pm Sep 4, 2007 3:28pm
Quoting pino2
I said earlier this week that cable is acting "You go your way and I'll go mine"
so why don't you act the same with me
heh he must do the exact opposite )
  • #28,940
  • Sep 4, 2007 3:36pm Sep 4, 2007 3:36pm
Quoting pino2
Bullrock, why don't you skip reading my posts if you don't like it that much, you have your own system, your own thoughts, your own views, and your own magic ball that tells you what will happen in the future and the direction as well, ok I respect all this as long as it is bringing profit to you and makes you convinced
I have my own system as well, and I'm making good money out of it and I'm convinced as well
I said earlier this week that cable is acting "You go your way and I'll go mine"
so why don't you act the same with me, just skip my posts
On the otherside, if I have something that may help, I won't hide it from you
That's the bad side of disclosing your trades. I'm thinking about not disclosing anymore...

If you lose, you read "hey cesarnc, how's that cable long of yours?" or "here's my view, target 9730". If you win, not a word
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