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Cable Update (GBPUSD)

  • #3,221
  • Dec 22, 2006 11:36am Dec 22, 2006 11:36am
usually starts around 11, with 1/2 hour left for the european trading day. that is the retracement for them to take profits, then around noon or so, it seems to head back in the direction of the trend, slowly but surely, with a couple of pip scalping moves of around 20 pips around 1:30 and 3:00. not always the same time with the pip scalping, but they are there most days. look at a 3 hr chart for the week with high volumes around 11:00 is what i have been looking at.
  • #3,222
  • Dec 22, 2006 11:37am Dec 22, 2006 11:37am
Quoting monarch
I agree, but I expected the 1.9800 mark to have been tested this week, especially with such a small drop off at the first of the weeks open.

I do not think the 1.9607 will hold, but should help us set a foundation towards the support levels of next month.

The news does move the market nicely, but the Pound is still staying inside the boundaries if 1.9550 to 1.9700.

This is setting the stage for 2007, lets all work together and we should make some great progress in understanding the characteristics and moods of the Pound.

Monarch
Monarch,

Today's payday for my admin staff so I had to step away for a moment. I told them if my website wasn't ready by New Year's, neither would their next pay be ready!!! Just joking. But I did emphasize the importance of the website. I apologize for this delayed response.

Certainly agree with that assessment and plan for collaborative action in 2007. In fact cable dropped to 9555 or so while I was away as though to undergird the point. And if folks don't wanna listen....well I like to say you can lead a horse to water but you can't make him an alcoholic!!
  • #3,223
  • Dec 22, 2006 11:44am Dec 22, 2006 11:44am
Quoting mtrmth
i only saw a high of 19621 from esignal. might just be profit taking from european traders, the market did drop 100 pips today, or they are setting up for monday.
mtrmth,

125 pips, from 9680 at 09:58 GMT to a low of 9555 at 17:01 GMT. Sounds like the number of points for da 'Boys over your eagles!!!

GO COWBOYS!!!!
  • #3,224
  • Dec 22, 2006 11:44am Dec 22, 2006 11:44am
Quoting MoneyMa$ter
Monarch,

Today's payday for my admin staff so I had to step away for a moment. I told them if my website wasn't ready by New Year's, neither would their next pay be ready!!! Just joking. But I did emphasize the importance of the website. I apologize for this delayed response.

Certainly agree with that assessment and plan for collaborative action in 2007. In fact cable dropped to 9555 or so while I was away as though to undergird the point. And if folks don't wanna listen....well I like to say you can lead a horse to water but you can't make him an alcoholic!!
do u expect the gbp to start heading for the 9850 for its next move then?
Ghost Swoopen in for my pips while no one is lookin !!
  • #3,225
  • Dec 22, 2006 11:46am Dec 22, 2006 11:46am
Quoting sundra
hi guys...

Wish u all Merry Xmast and Happy New Year...

just one question.. is there anyway i can change my chart time from GMT to EST??

im using metatrader chart...
You can't, that's your brokers time.
Steve
  • #3,226
  • Dec 22, 2006 11:47am Dec 22, 2006 11:47am
beautiful day - locked in for at least 32 pips and looks like its headed the right way for the holidays. Santa was good. Merry Christmas to you all
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Man who scratches ass should not bite fingernails
  • #3,227
  • Dec 22, 2006 11:47am Dec 22, 2006 11:47am
even oil is heading south...cristmas time,....if it goes to 61.70 -61.90 im buying...today ill party all night
its just money
  • #3,228
  • Dec 22, 2006 11:52am Dec 22, 2006 11:52am
cute monarch, but you have the spitting T.O., a kissing cousin of keyshawn, and neither will bring the boys a ring!!! i smell pork chops!!! haha!!!
  • #3,229
  • Dec 22, 2006 11:55am Dec 22, 2006 11:55am
on the trading note, the markets open on monday at 1500 right?? will there be anything to look forward to next week, or just scalping for pips when the opportunity presents itself?? i feel like i am back in the navy, riding the waves and being poretty much at the same sea level!!!
  • #3,230
  • Dec 22, 2006 11:58am Dec 22, 2006 11:58am
Quoting Ghostpipper
do u expect the gbp to start heading for the 9850 for its next move then?
Honestly GP, today I've been trading, handling my business, taking down funds, looking for a warm golf course, stuff like that. So I will probably look at that over the weekend. Maybe.

I'm certain we'll see cable bounce and head long, maybe this afternoon, certainly next trading day, just as it's done the last couple of weeks as shown on the 4H. I just don't have a target.

9850 sounds like Monarch's target and it may be right on the money; he's looking for 9800s. Plus there's minimal news next week and traders on holiday, meaning no major announcements to move the market. May just continue ranging between 9550 and 9700, great for scalpers and swing-type traders.

Enjoy your holiday!
  • #3,231
  • Dec 22, 2006 11:59am Dec 22, 2006 11:59am
I have also noticed that the market moves aroun 2 am est. is that the best time to look for pips??? or is it more like 4am when europe is open?? i think 11 is a good time to get pips, i just have to work on my timing. anyone have any thoughts??
  • #3,232
  • Dec 22, 2006 12:22pm Dec 22, 2006 12:22pm
Quoting mtrmth
I have also noticed that the market moves aroun 2 am est. is that the best time to look for pips??? or is it more like 4am when europe is open?? i think 11 is a good time to get pips, i just have to work on my timing. anyone have any thoughts??
Mtrmth, I don't know how long you've been trading but, you should really get a chart when all the market open and closes.. or even scroll back like 100 pages from this forum and get a list of time zones... European market opens at 2am est. and london kicks it in at 3am. then u.s. opens at 8am est. but, the news releases 30 mins after the market opens.. Do some research and see where you would benefit from trading at opening hours..
  • #3,233
  • Dec 22, 2006 12:48pm Dec 22, 2006 12:48pm
i have only been trading for a month or so, and i assumed that the ,arkets opened when the stocks opened in each time zone. obviously i was misinformed. thanks for the info. as for when i want to find out what time i trade, the obvious times are when the most people are in, it is when the most volume is going on and when direction is able to be taken advantage of. there are daily trends and longer term trends. i need to use the shorter term ones right now to give me massive equity so i can do both. i think that is what we are all here for. if you do notice for today, the market moved around 2 am est downward and finished around 11 am with total movement of 100+ pips. now all ihave to do is get with the ride and take 50-75 pipos and enjoy the profits. i know there will always be a step back once in awhile, but i want to minimize the backwards ones as much as possible, that is why i am here to get info on movement from people who are smarter than i right now. info is gold and will help everyone beat the big boys, even if just for smaller gains than they get.
  • #3,234
  • Dec 22, 2006 1:00pm Dec 22, 2006 1:00pm
As far as you question regarding trading time. I agree with yulvme. For example I try to trade cable between 3-5am EST and 8-12EST. My only problem I'm on the Pacific coast therefore I am trading Graveyard shift.

I missed the drop from 9610 to 9560 because of my wifes Christmas breakfast. Oh well. On a personal note, I am going to FULLTIME trader status starting Jan 1 (focused on Cable). See you all next week.
  • #3,235
  • Dec 22, 2006 1:05pm Dec 22, 2006 1:05pm
anyone see that 30 pips jump??? i bet it drops back to 19560 before close time. i am on the east coast, still means i have to be up the same time as you, but if it makes me a living, i can be a vampire for money!!!
  • #3,236
  • Dec 22, 2006 1:08pm Dec 22, 2006 1:08pm
HO HO HO there is SANTA KLAUS , a third gift ..... a litle retracement... 62-87 .. enough ... I am off now...


MERRY CHRISTMAST to all..... and ciauuuuuuuuu.

:
I Deeply Love My Virtual Life In Virtual World , RLC
  • #3,237
  • Dec 22, 2006 1:38pm Dec 22, 2006 1:38pm
Nice NotMe I wanted that, can't pull the trigger today, glad it worked for someone though
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #3,238
  • Dec 22, 2006 2:08pm Dec 22, 2006 2:08pm
Quoting Ghostpipper
GBP will retrace a minimum of 50 pips from its low its friday and christmass weekend

hmm where did i read this before ? lmao yeah baby
Ghost Swoopen in for my pips while no one is lookin !!
  • #3,239
  • Dec 22, 2006 2:16pm Dec 22, 2006 2:16pm
nice retrace, missed it. looks like the last 24 hours was a wash, ended up where it started with the wave in the middle. wish it did that every day, easy 200 pips a day!!! we should petition to make it so!!
  • #3,240
  • Dec 22, 2006 2:18pm Dec 22, 2006 2:18pm
i quit for today, it is done. see y'all monday. have a good christmas.
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