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Cable Update (GBPUSD)

  • #4,421
  • Jan 2, 2007 10:39pm Jan 2, 2007 10:39pm
I loaded at 45 and 39
  • #4,422
  • Jan 2, 2007 10:40pm Jan 2, 2007 10:40pm
Quoting moonchild
It looks as though there is a USD positive move at present in most of the majors, and as far as I can tell, for no special reason, other than it is just happening.

I am not sure how to justify a number such as 9614, but one thing is certain and that is that there is a lot of USD news coming up. Should it be positive, wold not the area in and around 9500 (actually 9480 to 9500) be a good target since that seems to be a fairly strong support throughout December?
There are many targets that can be classified as good targets, I'm not the all or nothing type, also, the timeframe charts that I tend to trade off of as well as their setups and my trailing stops dont really keep me on for 200-300 pips on a trade unless it shoots straight down, especially on GBPUSD. However, if it does make it to 9400, I'm sure there will be pullbacks along the way to short.
Man who scratches ass should not bite fingernails
  • #4,423
  • Jan 2, 2007 10:43pm Jan 2, 2007 10:43pm
close below 23 in next 50 ticks would give me comfort as it would drop on close below 55 period dynamic pivot on 150 tick chart.
Man who scratches ass should not bite fingernails
  • #4,424
  • Jan 2, 2007 10:49pm Jan 2, 2007 10:49pm
Just added 25% to my position @40
Man who scratches ass should not bite fingernails
  • #4,425
  • Jan 2, 2007 10:50pm Jan 2, 2007 10:50pm
What the heck was that??!?!?!?!?!
trading on demo is not trading
  • #4,426
  • Jan 2, 2007 10:55pm Jan 2, 2007 10:55pm
Quoting enzo2325
What the heck was that??!?!?!?!?!
it was a really fast move back up - great! end of hour move possibly. Fear not, it is only noise.
Man who scratches ass should not bite fingernails
  • #4,427
  • Jan 2, 2007 10:57pm Jan 2, 2007 10:57pm
we need to come back below 37 in next 700 ticks, if not, I'm out - possibly even before then, I'm getting impatient.
Man who scratches ass should not bite fingernails
  • #4,428
  • Jan 2, 2007 11:05pm Jan 2, 2007 11:05pm
thats better, looks like it may have been a tiny shakeout. Lets see if we get back below 27 again soon on close for further confirmation.
Man who scratches ass should not bite fingernails
  • #4,429
  • Jan 2, 2007 11:06pm Jan 2, 2007 11:06pm
Impatient ?? Great



Quoting Leugimp
we need to come back below 37 in next 700 ticks, if not, I'm out - possibly even before then, I'm getting impatient.
  • #4,430
  • Jan 2, 2007 11:06pm Jan 2, 2007 11:06pm
Thats better!!
trading on demo is not trading
  • #4,431
  • Jan 2, 2007 11:08pm Jan 2, 2007 11:08pm
Price just came down and my exit order was triggered on my added positions for 10 pips. Now I'm back to original position size.
Man who scratches ass should not bite fingernails
  • #4,432
  • Jan 2, 2007 11:15pm Jan 2, 2007 11:15pm
is it going to do this again on this 15 minute candle?
  • #4,433
  • Jan 2, 2007 11:16pm Jan 2, 2007 11:16pm
Quoting enzo2325
What the heck was that??!?!?!?!?!
I just soiled myself!
  • #4,434
  • Jan 2, 2007 11:17pm Jan 2, 2007 11:17pm
Quoting twinchell
I just soiled myself!
I got a woodie
Man who scratches ass should not bite fingernails
  • #4,435
  • Jan 2, 2007 11:21pm Jan 2, 2007 11:21pm
if prices moves south as expected, yet fails to penetrate 9704, we will have a positive reversal forming on 400 tick chart which would most likely bring us above 9750. Just a warning!
Man who scratches ass should not bite fingernails
  • #4,436
  • Jan 2, 2007 11:29pm Jan 2, 2007 11:29pm
got to get past this support for right now I also have my eyes on 9704 to see where this thing is going to go. keep up the good work.
  • #4,437
  • Jan 3, 2007 12:31am Jan 3, 2007 12:31am
got out at -4 pips on remainder. down total of 6 pips for the day - will wait to see what happens. Nice little range being built around dynamic pivots, will wait for a close on 150 tick above 9750 oe below 9718 before considering any setups. If above 9750, will wait for reversal confirmation. If below 97l8 and enough room to gather 10 pips down to low 9700's will take it, otherwise will look for pullback to go short, or negative reversal formation to go long. Lets see what happens.
Man who scratches ass should not bite fingernails
  • #4,438
  • Jan 3, 2007 12:40am Jan 3, 2007 12:40am
Quoting Leugimp
got out at -4 pips on remainder. down total of 6 pips for the day - will wait to see what happens. Nice little range being built around dynamic pivots, will wait for a close on 150 tick above 9750 oe below 9718 before considering any setups. If above 9750, will wait for reversal confirmation. If below 97l8 and enough room to gather 10 pips down to low 9700's will take it, otherwise will look for pullback to go short, or negative reversal formation to go long. Lets see what happens.
By the way, the reason I exited the trade at break even less the spread was one that is just personal to me and really doesn't bear any technical reasoning. I was beginning to hope that price would just move my way. Although I feel it is destined to, that sensation of hoping is usually an indicator for me to get out, not necessarily because I think I am wrong, but because I dont want it to have not even .005% effect on my execution. Although this has kept me out of many good trades, the ones that it has affected me unfavorably in the past were too large to ignore. When I begin to hope, I get out, just a rule of mine. Talk to you soon.
Man who scratches ass should not bite fingernails
  • #4,439
  • Jan 3, 2007 12:41am Jan 3, 2007 12:41am
Leugimp: 9750 and 9718 look like excellent #'s to trigger a decision. They also coincide closely to the Asian range. I think we will get a direction soon.
  • #4,440
  • Jan 3, 2007 12:48am Jan 3, 2007 12:48am
We also have a nice ascending channel formed by the Asian session. On the 15 min. chart it is about 30 pips deep. I have seen this setup initiate a short many times. It is generally good for at least a decent fibo. retracement. I've said this before,but, these are only my observations, please make your own decision based on your own strategy.
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