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Cable Update (GBPUSD)

  • #1,441
  • Dec 12, 2006 1:19pm Dec 12, 2006 1:19pm
"Looks" like a lot is happening.

The drop down to 1.9619 was a pre-news fakeout, then the jump up at news went to 1.9671 so far setting below the R2 Daily at 1.9674.

Just matched todays high of 1.9681
  • #1,442
  • Dec 12, 2006 1:23pm Dec 12, 2006 1:23pm
The high just went to 1.9696 2 pips below Fibo 50% and matched the close on the 1 Hour Candle on Friday the 8th 7:00 am 1.9695.

It is sitting right at the R2 Daily.
  • #1,443
  • Dec 12, 2006 1:25pm Dec 12, 2006 1:25pm
Did it just bounce of 9700?
  • #1,444
  • Dec 12, 2006 1:26pm Dec 12, 2006 1:26pm
Quoting Tush
Did it just bounce of 9700?

9697
  • #1,445
  • Dec 12, 2006 1:29pm Dec 12, 2006 1:29pm
Quoting BRForex
my trade plan for now:


i waiting for hit 1.9605 for entry LONG to 1.9698

if not hit 1.9605 i will make a order afters news.
not hit 1.9605, but still long from 1.9625, now 1.9685
  • #1,446
  • Dec 12, 2006 1:37pm Dec 12, 2006 1:37pm
You Gotta Love it.....

Pressing the 61.8% Fibo mark so soon in the week, WOW.

Fixme1too, it just may hit our 1.9743 mark just yet.

Monarch
  • #1,447
  • Dec 12, 2006 1:38pm Dec 12, 2006 1:38pm
Quoting monarch
You Gotta Love it.....

Pressing the 61.8% Fibo mark so soon in the week, WOW.

Fixme1too, it just may hit our 1.9743 mark just yet.

Monarch
Great :-)
Could post the Fibo indicator you use please ?
  • #1,448
  • Dec 12, 2006 1:39pm Dec 12, 2006 1:39pm
Hey Northpro!

Pleas give me some info here with your strategy?

Thanks,

Monarch
  • #1,449
  • Dec 12, 2006 1:42pm Dec 12, 2006 1:42pm
pulled the parachute out at 9700...
  • #1,450
  • Dec 12, 2006 1:42pm Dec 12, 2006 1:42pm
Quoting dswk
Great :-)
Could post the Fibo indicator you use please ?
Fibo is from the Top on Dec 8th to Bottom on Dec. 10th. This should set you up to what I am watching.

Monarch
  • #1,451
  • Dec 12, 2006 1:43pm Dec 12, 2006 1:43pm
Quoting monarch
Fibo is from the Top on Dec 8th to Bottom on Dec. 10th. This should set you up to what I am watching.

Monarch
Thanks Mister.
  • #1,452
  • Dec 12, 2006 1:44pm Dec 12, 2006 1:44pm
Quoting mrSmoothy
pulled the parachute out at 9700...
No doubt, I shorted at 1.9710 mark. Should be good for a few pips.

Still expect the push up for a while longer though.

Monarch
  • #1,453
  • Dec 12, 2006 1:45pm Dec 12, 2006 1:45pm
indicators saying this babe's got fuel yet. Just bounced 9700 2nd time... About to break it........ ?
  • #1,454
  • Dec 12, 2006 1:49pm Dec 12, 2006 1:49pm
Quoting monarch
Hey Northpro!

Pleas give me some info here with your strategy?

Thanks,

Monarch
Hey Monarch,

Re. Cable

Being the range trader I am, and the fact that a new range is yet to be established, plus the fact that my range system Wavetrade is giving conflicting direction signals, I have to rely heavily on the EW traders....So, my strategy here is to wait. As per consult with Fixme1too, we will wait til the B wave retrace hits the 75%-78% (9750), then go into a short position to 9350ish. For now that's where I am at and will look again after the session ends for further insight.

NP
  • #1,455
  • Dec 12, 2006 1:51pm Dec 12, 2006 1:51pm
Quoting cesarnc
indicators saying this babe's got fuel yet. Just bounced 9700 2nd time... About to break it........ ?
Look at the 1 Hour Chart

You will see this point was bounced before.

on 12/6, 12/7, 12/8, and now on the 12th.

Each time the First Candle bounced and rose above - closed below,
then the second Candle bounced and rose above 1.9700 but closed below.

Lets see where the 12:00 noon (Pacific Time) Candles takes us?

Monarch
  • #1,456
  • Dec 12, 2006 1:53pm Dec 12, 2006 1:53pm
Quoting Northpro
Hey Monarch,

Re. Cable

Being the range trader I am, and the fact that a new range is yet to be established, plus the fact that my range system Wavetrade is giving conflicting direction signals, I have to rely heavily on the EW traders....So, my strategy here is to wait. As per consult with Fixme1too, we will wait til the B wave retrace hits the 75%-78% (9750), then go into a short position to 9350ish. For now that's where I am at and will look again after the session ends for further insight.

NP
Hi Northpro,

Does fixme1too has a PF or seminar? I wanna learn about EW

Thanks..
  • #1,457
  • Dec 12, 2006 1:54pm Dec 12, 2006 1:54pm
seem it has lost steam and reversal is in play, might not even get up to 9735 before turning.
  • #1,458
  • Dec 12, 2006 1:55pm Dec 12, 2006 1:55pm
Quoting Northpro
Hey Monarch,

Re. Cable

Being the range trader I am, and the fact that a new range is yet to be established, plus the fact that my range system Wavetrade is giving conflicting direction signals, I have to rely heavily on the EW traders....So, my strategy here is to wait. As per consult with Fixme1too, we will wait til the B wave retrace hits the 75%-78% (9750), then go into a short position to 9350ish. For now that's where I am at and will look again after the session ends for further insight.

NP
If anyone is interested in following a great thread, find the called Wavetrade, it is in the Journal.

Northpro leads the way, and I his thread for alot of my other currency trades.

Thanks Northpro, it is greatly appreciated.

Monarch
  • #1,459
  • Dec 12, 2006 1:57pm Dec 12, 2006 1:57pm
98 pips on the day profit. Just came out of my short for 7 pips. For me now its a waiting game! Canceled my sell positions @ 9720 & 9750. I think we still have room to climb, but a good case for a drop! Its been a good day so I've decided not to be to greedy and just watch. Good luck
  • #1,460
  • Dec 12, 2006 1:57pm Dec 12, 2006 1:57pm
Lack of sleep has messed my typing up, correction on the typing below.....

If anyone is interested in following a great thread, find Wavetrade, it is in the Journal section.

Northpro leads the way, and I use his thread for a lot of my other currency trades.

Thanks Northpro, it is greatly appreciated.

Monarch
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