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Cable Update (GBPUSD)

  • #2,921
  • Dec 21, 2006 10:17am Dec 21, 2006 10:17am
Cesarnc although it took it's time, out for +13pips, not sticking my kneck out for more today


( especially as I had it stupid set at $5 per pip, not $1 like I'm supposed to and didn't realise, finally got lucky, not that kills me )
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #2,922
  • Dec 21, 2006 10:17am Dec 21, 2006 10:17am
cesarnc, im not too sure about that, because if you zoom out to the 15 minute chart were going up in waves. There is going to be at least one more wave up to take price to at least probably 9630-9635, no promises but it looks good from here.
I dream, therefore I become.
  • #2,923
  • Dec 21, 2006 10:23am Dec 21, 2006 10:23am
Quoting mike w
cesarnc, im not too sure about that, because if you zoom out to the 15 minute chart were going up in waves. There is going to be at least one more wave up to take price to at least probably 9630-9635, no promises but it looks good from here.
you're right... I think it is worth waiting a little bit more...

15 min shows MACD positive, SlowK rising, RSI 50... this baby is in my microscope ....
  • #2,924
  • Dec 21, 2006 10:24am Dec 21, 2006 10:24am
12hour SMA is pinning it down on my chart, 1.9635 area currently, bounced off this earlier, was a nice short, would like abit nearer before I short again.

1 of them in fashion, quick runs that generally get reversed at the moment ( They'll flip this to a pause then continue to trap us that use it soon, so prepar to switch )

EUR is sitting right at the Resistance 12hour and 24hour SMA levels here, possibly a good short for a down wave, will drag GBP down with it ofcourse.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #2,925
  • Dec 21, 2006 10:29am Dec 21, 2006 10:29am
Quoting Turveyd
12hour SMA is pinning it down on my chart, 1.9635 area currently, bounced off this earlier, was a nice short, would like abit nearer before I short again.
Very nice look, if it goes past the resistance though, the next resistance level looks to be in the 40's, which is exactly what moneymaster said..then comes the drop down. wow hes good haha and if it doesn't that would give it a straight shot to 9490 where the next support level is at.
I dream, therefore I become.
  • #2,926
  • Dec 21, 2006 10:30am Dec 21, 2006 10:30am
I'm out... got 70 pips today... Decided to wait&see if it is going to perform within the channel until tomorrow morning and, if so, catch the down move from London on....

Guys, it was a nice ride with you all today... Thanks... I was sooo needing those 70 pips.... financially and emotionally...

You guys rock.
  • #2,927
  • Dec 21, 2006 10:33am Dec 21, 2006 10:33am
IF this clears the 24hour SMA line ( 288SMA on 5min chart ) then very high odds on a trend move up, I will be getting my Long on if so.

If the Euro Clears the area, I'll setup a 1/2 position on the GBP to, hoping to get in early.

( My account just hit new highs by a few $$'s but when ever this happens, I don't want to drop back and find it hard to trade again for the day, stupid hey )
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #2,928
  • Dec 21, 2006 10:35am Dec 21, 2006 10:35am
Congrat's Cesarcn, walk away before you get gambly and greedy


And Hope you repeat tommorow



Going higher, errrrrrmmmm decisions decisions.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #2,929
  • Dec 21, 2006 10:37am Dec 21, 2006 10:37am
Quoting Turveyd
( My account just hit new highs by a few $$'s but when ever this happens, I don't want to drop back and find it hard to trade again for the day, stupid hey )
Excellent to hear! just dont be like me and let yourself take dumb trades and lose it all haha just keep ur head on and check out the charts like any other day
I dream, therefore I become.
  • #2,930
  • Dec 21, 2006 10:38am Dec 21, 2006 10:38am
Short 76 on the Euro, smaller stop required!!

GBP having fake run ups, hitting selling to big a stop requirement for comfort. Will short if I see a safer price!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #2,931
  • Dec 21, 2006 10:40am Dec 21, 2006 10:40am
Only by a few $$$'s, $4 to be exact, so nothing to get excited over, but looks nice on my account value chart


Interesting Sell GBP there, and again, looking good
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #2,932
  • Dec 21, 2006 10:44am Dec 21, 2006 10:44am
Mike been there, for 18months I added $200 every 3months ish, and blew it with 30trades with next to no winners.

6months+ and 279 trades made on the last addition, turning a corner slowly.


Might make profits next year ( $200 would do me )
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #2,933
  • Dec 21, 2006 10:47am Dec 21, 2006 10:47am
GBP ad Eur sitting on 2hour support, could be uptrended forming, hmmmmm
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #2,934
  • Dec 21, 2006 10:56am Dec 21, 2006 10:56am
Chart feed died, Market stopped trading, stress levels rising out for 1pip, worth it NO, but hey!!




Time for me to walk away, later dudes, trade carefully!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #2,935
  • Dec 21, 2006 11:07am Dec 21, 2006 11:07am
All long term charts for me setting up for a cable disaster in 2007, I dont know why fundamentally but not looking too good for cable. If Cable were to begin considering adoption of Euro, could that be a possible catalyst? Maybee we can break the bank too!
Man who scratches ass should not bite fingernails
  • #2,936
  • Dec 21, 2006 11:16am Dec 21, 2006 11:16am
On the monthly it looks like its in a wavetrend up so you could be right about that. Its in the middle of the third or fourth wave (Depending on how you look at it) right now so that could be a very likely possibility in mid to late 2007.
I dream, therefore I become.
  • #2,937
  • Dec 21, 2006 11:35am Dec 21, 2006 11:35am
Bet it'll take out 2.0000 next week, while everyone is sleeping

But I'm only interested in short term opertunitys so as long as it's tradeable I'm happy.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #2,938
  • Edited 12:37pm Dec 21, 2006 12:28pm | Edited 12:37pm
Maybe someone's already mentioned this (notouch?), but isn't there usually a major sell-off of cable, either the week before or the week during Christmas? Like upwards of 400 pips? Check out 2004 and 2005 on the weekly.

Looking at this week, cable's only done around 300 or so pips from a high of 9748 to the low of 9429. So cable needs to crash through the 38 fib and get to 9350ish tomorrow to be historically consistent.

Whoever it was that earlier today said he agreed with the short strategy but was looking for 9445 on Friday, Dec 22nd, and I replied yes to 9445 but not tomorrow....looks like history is on your side.

Rather than talk out of both sides of my mouth, I will definitively agree that cable should see 9450ish territory within the next 3-5 trading days (how's that for wiggle room??). Or before year end. Or before the New Year.

Just information, not a recommendation.

addition: It was fxpinoy at post 2860.
  • #2,939
  • Dec 21, 2006 12:28pm Dec 21, 2006 12:28pm
I don't know if it will hit that high that fast, may need one more week or so, but who knows about the holidays.

I do know if it heads up, there won't be no sleeping on my part, I am ready for, and watching.

Monarch

Quoting Turveyd
Bet it'll take out 2.0000 next week, while everyone is sleeping

But I'm only interested in short term opertunitys so as long as it's tradeable I'm happy.
  • #2,940
  • Dec 21, 2006 12:43pm Dec 21, 2006 12:43pm
Quoting Turveyd
Bet it'll take out 2.0000 next week, while everyone is sleeping

But I'm only interested in short term opertunitys so as long as it's tradeable I'm happy.

Not only will it not take out 2.0000, but it will end the year significantly closer to 1.90 -

How much you want to bet
Man who scratches ass should not bite fingernails
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