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Cable Update (GBPUSD)

  • #59,801
  • Mar 28, 2008 10:07am Mar 28, 2008 10:07am
Quoting bbmac
Mar 28 14:11 GMT, by DailyFX
The final reading of the University of Michigan consumer confidence survey for the month of March was revised down to a 16-year low of 69.5
So the USD goes up - I expect that now - just do the reverse to conventional wisdom and it never fails

I reckon when the GDP of the USA is 1 dollar, that dollar will be worth 1 billion gdp
  • #59,802
  • Mar 28, 2008 10:25am Mar 28, 2008 10:25am
Targeting lows below 1.9733, as price action suggests.
  • #59,803
  • Mar 28, 2008 10:31am Mar 28, 2008 10:31am
Quoting Abuawad
still hold short from 2.0045 to the same target but the SL on 2.0100
happy birthday bro
sorry i didnt notice yesterday.

yin3ad 3aleik bil so77a wil 3afieh
w allah y5aleek fo2 ras little awad
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #59,804
  • Mar 28, 2008 10:34am Mar 28, 2008 10:34am
Quoting allserene
So the USD goes up - I expect that now - just do the reverse to conventional wisdom and it never fails

I reckon when the GDP of the USA is 1 dollar, that dollar will be worth 1 billion gdp

hey man were have u been?

anyway i wana ask u a question.
what do u think : DID DOLLAR BOTTOM OUT
or does it still have more room to go?
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #59,805
  • Mar 28, 2008 10:42am Mar 28, 2008 10:42am
Well, I managed to garner another 81 pips on Abuawad's method.

Abuawad.. how do you treat the trading on Mondays.. do you use the close on Friday (NYsession) to figure the numbers, or lump in something for Sunday?
"I know how hard it is for you to put food on your family." George W. Bush
  • #59,806
  • Mar 28, 2008 10:46am Mar 28, 2008 10:46am
Quoting priceaction
I have to go out. I've placed n SL just above the range (2.0002). If it stops me out I'll have got 100 pips, but if breaks support, I'm still in the trade. Either way, a nice way to end the week.

Good luck everyone & a good weekend.
Whilst I was out, I got stopped out and banked a few more than 100 pips.
That'll teach me to bring my stops in too close!

New short position opened at 1.9947.
  • #59,807
  • Mar 28, 2008 10:58am Mar 28, 2008 10:58am
So scenario C re earlier post 59778 plays out, ie bottom of congestion channel [support] breaks down to point A, the support becomes resistance as bottom of channel is tested on a retrace (point B) from point A, selling down to new lows at pount C, currently trading at 9886 as type this.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: s.gif Size: 10 KB
ex member
  • #59,808
  • Mar 28, 2008 11:11am Mar 28, 2008 11:11am
Quoting MarcoW
Well, I managed to garner another 81 pips on Abuawad's method.

Abuawad.. how do you treat the trading on Mondays.. do you use the close on Friday (NYsession) to figure the numbers, or lump in something for Sunday?
it can be done once US session over on Friday. but usually i do it on Sunday nigth
  • #59,809
  • Mar 28, 2008 11:13am Mar 28, 2008 11:13am
Quoting salah k.
happy birthday bro
sorry i didnt notice yesterday.

yin3ad 3aleik bil so77a wil 3afieh
w allah y5aleek fo2 ras little awad
Thanks
  • #59,810
  • Mar 28, 2008 11:16am Mar 28, 2008 11:16am
i'm out from the short from 2.0085 to 1.9890 with 155 pip. i have to go out side... so sorry for the 40 pip to 1.9850
  • #59,811
  • Edited 11:18am Mar 28, 2008 11:16am | Edited 11:18am
Abuawad,

I've done very nice out of the bear move today & yesterday.
I'm not so sure about my final take profit on this one. What are your thoughts?

Rob
PS I used to live and work at the Faisaliah tower in your city.

new info ...OK, I see our posts crossed and you're out of the trade at 1.9890. Nice trade!
  • #59,812
  • Mar 28, 2008 11:23am Mar 28, 2008 11:23am
Quoting priceaction
Abuawad,

I've done very nice out of the bear move today & yesterday.
I'm not so sure about my final take profit on this one. What are your thoughts?

Rob
PS I used to live and work at the Faisaliah tower in your city.

new info ...OK, I see our posts crossed and you're out of the trade at 1.9890. Nice trade!
Hi,
you can see that i'm out now on 1.9890 but i think it will move up to 1.9931 and last on 1.9955 then fall back to 1.9850 and 1.9810.

Faisaliah tower !! and are you still there ? we can meet and have if you like
  • #59,813
  • Mar 28, 2008 11:26am Mar 28, 2008 11:26am
Quoting pino2
I changed my SL again for the GBP/USD to 2.0160, TP @ 1.9750

I added 2 pending orders for the EUR/USD
Sell EUR/USD 2 lots @ 1.5900 SL @1.6000 TP 1.5450 as 1st target, and will wait for the break of 1.5400 toreach my 2nd target 1.5250
On the otherside if this trade hits SL @ 1.6000 I placed a buy entry order @ this level 1.6000 with SL @ 1.5830 TP @ 1.6300
I changed my SL for GBP/USD to 2.0200 then now @ BE, TP was changed as well 1.9780

GBP/JPY short as well @ 201.00 SL @ 202.10 then now to BE, waiting for the break of 196.60 and 192.60 to acheive my target (below 190)
Short @ 200.33 hits SL @ 201.00 and I opened another short trade @ 201.52 SL @ BE, with the same target as above.

EUR/USD pending orders are cancelled for the time being, not triggered yet.

Happy trading and wishing you a nice weekend.
  • #59,814
  • Mar 28, 2008 11:28am Mar 28, 2008 11:28am
Quoting Abuawad
Hi,
you can see that i'm out now on 1.9890 but i think it will move up to 1.9931 and last on 1.9955 then fall back to 1.9850 and 1.9810.

Faisaliah tower !! and are you still there ? we can meet and have if you like
OK thanks Abuawad.
I'm not in town any longer. I'm back in Europe. But if I do come into the region (I spend more time in UAE in recent years), I'll let you know.
  • #59,815
  • Mar 28, 2008 11:29am Mar 28, 2008 11:29am
Quoting priceaction
OK thanks Abuawad.
I'm not in town any longer. But if I do come into the region, I'll let you know.
Any time, i'll be happy to meet one of FF member here in the area
  • #59,816
  • Mar 28, 2008 11:32am Mar 28, 2008 11:32am
Quoting Abuawad
it can be done once US session over on Friday. but usually i do it on Sunday nigth

By the way.. I missed your birthday.. Happy belated birthday!!

Marco
"I know how hard it is for you to put food on your family." George W. Bush
  • #59,817
  • Mar 28, 2008 11:45am Mar 28, 2008 11:45am
Quoting MarcoW
By the way.. I missed your birthday.. Happy belated birthday!!

Marco
thanks
  • #59,818
  • Mar 28, 2008 2:27pm Mar 28, 2008 2:27pm
I have never plotted a Andrews pitch fork before in fact I had to look up how to just then as I saw the pattern ,but this one seems to fit the 1 hour chart.

Liking your posts a lot bbmac thanks

If any one can see something wrong with my pitchfork please let me know.
Attached Image (click to enlarge)
Click to Enlarge Name: pitch.gif Size: 75 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #59,819
  • Mar 28, 2008 2:31pm Mar 28, 2008 2:31pm
March 2008 Performance:

3/3/2008 : 99
3/4/2008 : 42
3/5/2008 : 164
3/6/2008 : 115
3/7/2008 : 92
3/10/2008 : 78
3/11/2008 : 120
3/12/2008 : 111
3/13/2008 : 50
3/14/2008 : 226
3/17/2008 : 200
3/18/2008 : 135
3/19/2008 : 116
3/20/2008 : 45
3/21/2008 : 0 – Lowest Day Profit
3/24/2008 : 99
3/25/2008 : 195
3/26/2008 : 259 – Highest Day Profit
3/27/2008 : 219
3/28/2008 : 155

Average/day: 126 pip
Total pips for March: 2,520 pips
Loss: 0 pips
  • #59,820
  • Mar 28, 2008 2:54pm Mar 28, 2008 2:54pm
This is a very great result, congrats.
Thanks for your daily "tables"
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