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Cable Update (GBPUSD)

  • #1,381
  • Dec 12, 2006 9:12am Dec 12, 2006 9:12am
Quoting titikokatiting
the 2nd fib of vegas is 9684, anyone thinks its gonna retrace there... anyone waiting for a short position there?
R2 is 9710. I usually abandon ship at R-20/30. So 9680s is my safe boat.
  • #1,382
  • Dec 12, 2006 9:28am Dec 12, 2006 9:28am
Quoting cesarnc
R2 is 9710. I usually abandon ship at R-20/30. So 9680s is my safe boat.

ah ok, thanks, how come i saw in one of your post that your take profit is 9800's?
  • #1,383
  • Dec 12, 2006 9:30am Dec 12, 2006 9:30am
Quoting titikokatiting
ah ok, thanks, how come i saw in one of your post that your take profit is 9800's?

oops..sorry, i thought it was yours...
  • #1,384
  • Dec 12, 2006 9:30am Dec 12, 2006 9:30am
Quoting titikokatiting
ah ok, thanks, how come i saw in one of your post that your take profit is 9800's?
9800? not me...

Jees... Those last 30 minutes are scalping my coronary...
  • #1,385
  • Dec 12, 2006 9:32am Dec 12, 2006 9:32am
anyone thinks that this policy annocement will drive the sterling down to pivot point again? or a boost up passing 9800? so far cable has run 110 pips for the day just to keep in mind.
  • #1,386
  • Dec 12, 2006 9:36am Dec 12, 2006 9:36am
Cable is at the top of its downsloping channel, if it fails to break through it will drop to 1.9620 awaiting FOMC announcement then likely head for the bottom of the channel again. If so good profits to be made!
  • #1,387
  • Dec 12, 2006 9:36am Dec 12, 2006 9:36am
Quoting cesarnc
9800? not me...

Jees... Those last 30 minutes are scalping my coronary...
i thought it was yours...sorry...my bad...

fixme1too, what's your strategy now, are you gonna short now?
  • #1,388
  • Dec 12, 2006 9:37am Dec 12, 2006 9:37am
If you look at the historic charts, this is generally a large whipsaw event. The last two announcements were the exact same numbers and yet one dropped down before recovering up and the other jumped up before recovering down.
http://z10.invisionfree.com/Historic...p?showtopic=23
  • #1,389
  • Dec 12, 2006 9:41am Dec 12, 2006 9:41am
Interesting , looking at BK's charts.. the current chart is looking like the second one which in May i believe? so, it might drop after the annocement i suppose. any comments guys?
  • #1,390
  • Dec 12, 2006 9:51am Dec 12, 2006 9:51am
Quoting yulvme
Interesting , looking at BK's charts.. the current chart is looking like the second one which in May i believe? so, it might drop after the annocement i suppose. any comments guys?
I have no idea. I'm gonna scalp that freaking news and that will be it for me today.
  • #1,391
  • Dec 12, 2006 9:54am Dec 12, 2006 9:54am
Quoting monarch
I have a Entry Waiting at the 1.9698 - Stop at 1.9750 - Target 1.9340

I will also have a Second Entry Waiting Short at 1.9730 for the extended area above the 61.8% area. This will allow me to make an additional 32 pips above my initial Entry of 1.9698, and possibly hit the maximum in this retracement. I

If it does not hit it will be okay with me, I will be set already for the Wave "C" Down.

Monarch
This is what we expected.

Ihad an Short Entry waiting at 1.9698, but I hit the trigger to Short at 1.9671.

This quick surge was to much to pass up.

I still have a 2nd Entry Waiting at 1.9720 just in case sometime soon it continues towards the R3 Daily.
  • #1,392
  • Dec 12, 2006 9:57am Dec 12, 2006 9:57am
got my initial south bound ticket at 9680.. - smoothy
  • #1,393
  • Dec 12, 2006 9:58am Dec 12, 2006 9:58am
GBP hit 1.9681 for a High just now.

This is the same exact spot it hit during the news on Dec.8th 1.9681

On the 8th it pushed a little higher to 1.9726 then went way down.

I do not actually see this going to the same point as Fridays High.

1.9700 is the 61.8% Fibo for the Retracement from 12/1/06 to 12/10/06, this just may be the area of tops.


Monarch
  • #1,394
  • Dec 12, 2006 10:03am Dec 12, 2006 10:03am
It might surge a bit higher before the news and go south or the second case would be dip down before news and go way up.
  • #1,395
  • Dec 12, 2006 10:06am Dec 12, 2006 10:06am
looking at the chart it looks more like what happend in May 06, which was high to start and dip down and rebounce back up more.. hard call!
  • #1,396
  • Dec 12, 2006 10:09am Dec 12, 2006 10:09am
Quoting monarch
This is what we expected.

Ihad an Short Entry waiting at 1.9698, but I hit the trigger to Short at 1.9671.

This quick surge was to much to pass up.

I still have a 2nd Entry Waiting at 1.9720 just in case sometime soon it continues towards the R3 Daily.

whats your take profit on your short entry?
  • #1,397
  • Dec 12, 2006 10:09am Dec 12, 2006 10:09am
Looking the charts:

1. This should settle back at 1.9654 (50% Fibo) we will see a small channel today bouncing form 9650 to 9680.

2. Then the second surge to the 61.8% Fibo mark at 1.9698.

3. Do not expect some big drop off during the dead market time, it will be this evening Pacific Time or near the London Open time.

Monarch
  • #1,398
  • Dec 12, 2006 10:16am Dec 12, 2006 10:16am
Closed my long (40pips) @ 1.9675 this also triggered a short. Just close short for 10pips. Think maybe we will see 1.9720-1.9750 so will place a short order at 1.9720 and a second @ 1.9750. Whats your feeling on the interest statement? Do you think they will cut 1/4%?
  • #1,399
  • Dec 12, 2006 10:19am Dec 12, 2006 10:19am
Quoting titikokatiting
whats your take profit on your short entry?

I have 1 Lot Short open now that is designed to go to the Target: 1.9340. (I expect we will go to 1.9312 area for our Wave "C" down)

I also have 1 Lot Short (waiting) for the surge to 1.9720 which will be used for the small bounce down.

I will be trading Long also (another platform) depending on my indications.

Last night I went both (short and long) during the bounces, and cleared 120 pips in the "Bounce House" (No losses yet trading this style this week)

Overall I plan to have 5 Lots placed on this Wave "C" Short for its final descent downwards.

Monarch
  • #1,400
  • Dec 12, 2006 10:19am Dec 12, 2006 10:19am
Quoting monarch
Looking the charts:

1. This should settle back at 1.9654 (50% Fibo) we will see a small channel today bouncing form 9650 to 9680.

2. Then the second surge to the 61.8% Fibo mark at 1.9698.

3. Do not expect some big drop off during the dead market time, it will be this evening Pacific Time or near the London Open time.

Monarch
so, u mean that cable will go down first for an up move??
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