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Cable Update (GBPUSD)

  • #60,861
  • Apr 8, 2008 6:21am Apr 8, 2008 6:21am
hi fxdaily It's been a long time not see..
  • #60,862
  • Apr 8, 2008 6:25am Apr 8, 2008 6:25am
Quoting 2be
Short established, already on B/E tatged 9670
i went long and now regreting it completely ...damnit
  • #60,863
  • Apr 8, 2008 6:26am Apr 8, 2008 6:26am
Potential resistance now on any retrace/pullback??

9742 is 23.6% of todays move down to current lows,

9777 38.2% of todays move down with 23.6% of Fridays Hi-todays current low @ 9774
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ex member
  • #60,864
  • Apr 8, 2008 6:29am Apr 8, 2008 6:29am
Quoting 2be
Short established, already on B/E tatged 9670
short coverred 50% profit taken (35pps), 15pps traligs SL in place
Make sure losses are small and profits are bigger!
  • #60,865
  • Apr 8, 2008 6:30am Apr 8, 2008 6:30am
Quoting nAVIN2007
i went long and now regreting it completely ...damnit
on a day like this with such bad sentiment best to stay with shorts looking to cover shorts if BOE fail to cut, i know know alot of sell stops tripped through 1.9730 area look for 9640 area now perhaps
Trading is 80% Emotional, 20% Technical
  • #60,866
  • Apr 8, 2008 6:31am Apr 8, 2008 6:31am
Quoting 2be
short coverred 50% profit taken (35pps), 15pps traligs SL in place
price action has been absolutely perfect for shorts today, nice and easy free pips to an extent, these are the days to take full advantage of
Trading is 80% Emotional, 20% Technical
  • #60,867
  • Apr 8, 2008 6:32am Apr 8, 2008 6:32am
Quoting bbmac
Potential resistance now on any retrace/pullback??

9742 is 23.6% of todays move down to current lows,

9777 38.2% of todays move down with 23.6% of Fridays Hi-todays current low @ 9774
RBS , would establish another short positions when it pulls back to it.
Make sure losses are small and profits are bigger!
  • #60,868
  • Apr 8, 2008 6:35am Apr 8, 2008 6:35am
long 9685 tp 9740
  • #60,869
  • Apr 8, 2008 6:36am Apr 8, 2008 6:36am
GBP/USD TRADING PAGE SPOT TECHNICAL SIGNIFICANCE RECOMMENDATION POSITION 1.9995(S) Daily Trendline Fm 2.04 Buy A Break Above SHORT at 1.9743
open 08/04/08 time 11:57 target 1.9640 stop 1.9810 1.9925(M) Failure High Apr 8 Sell A Failure 1.9835(M) Prev Low Apr 7 Sell A Failure 1.9805(M) Hrly Sell Off Point Apr 8 Buy Stop 1.9810 1.9690 11:30 GMT TUE 08 APR 1.9640(M) Daily Low Feb 26, BB Take Profit, Sell Break 1.9510(M) 2% MA Band Base Cover On A Bounce 1.9340(S) Daily Low Jan 22 Take Profit, Sell Break 1.9180(M) Daily low Mar 11 07 Take Profit, Sell Break
Another short trade as price pushes lower and breaks the earlier base at 1.9750. Hourly studies are oversold but price is ignoring this bias for now as the slide looks set to continue. 1.9700 currently under pressure with support thin until the 1.9640 which is also the Bollinger Band base. Daily trend studies tick south. (AS) 11:06 GMT
end

FYI: commentary from IFR
Trading is 80% Emotional, 20% Technical
  • #60,870
  • Apr 8, 2008 6:37am Apr 8, 2008 6:37am
Quoting fx local
price action has been absolutely perfect for shorts today, nice and easy free pips to an extent, these are the days to take full advantage of
Absolutely agree, 3rd od 3rd EW indicates territory for good moves. ATM I am interested in shorting only, there are not that many days that so many things agree in providing direction and trend.
Make sure losses are small and profits are bigger!
  • #60,871
  • Apr 8, 2008 6:38am Apr 8, 2008 6:38am
Quoting nAVIN2007
i went long and now regreting it completely ...damnit
I am also long, but feel that it should go up from this point..... lets see
  • #60,872
  • Apr 8, 2008 6:44am Apr 8, 2008 6:44am
Some bids at 9680/70 say MNi Daily S4 pivot at 9673-78....price now 246pips off the intraday highs, well above the 5,10 and 20 day average ranges of 152, 170 and 188pips respectively.

9650/40 likely stronger bids say mni
ex member
  • #60,873
  • Apr 8, 2008 6:45am Apr 8, 2008 6:45am
Quoting 2be
RBS , would establish another short positions when it pulls back to it.

can u believe i actaully enter a long at the pullback 23% fib
  • #60,874
  • Apr 8, 2008 6:50am Apr 8, 2008 6:50am
Quoting 2be
short coverred 50% profit taken (35pps), 15pps traligs SL in place
All shorts coverred at 9683, 13pps short of m9670 target, reason 15min chart indicates a slowdown in down momentum. Not going long, waiting for a pulback to S/R area indicated by Bbmac
Make sure losses are small and profits are bigger!
  • #60,875
  • Apr 8, 2008 7:06am Apr 8, 2008 7:06am
Quoting DJ4x
I am also long, but feel that it should go up from this point..... lets see
its never good to go against the trend and even if it does go up! at what point are we going to be sure we have the right direction..i knew it was going down but i didnt think it would have been this much ...from now on im sticking to to trend..i just hope it does go up ...im down 40 pips already
  • #60,876
  • Apr 8, 2008 7:07am Apr 8, 2008 7:07am
Quoting wattawatta
Hello evryone
Is anyone here using the Jacko system here on the GBP/USD. I am having a massive success on the EUR/USD but want to try it on the other currrencies. Does anyone here trade his system on the other two currencies. What stop loss size do you use.
TIA
Hi wattawata

Are you talking about the anti hedging strategy or something else?
  • #60,877
  • Apr 8, 2008 7:08am Apr 8, 2008 7:08am
Quoting nAVIN2007
can u believe i actaully enter a long at the pullback 23% fib
market can sometimes behaves like an opponent who is trying to teach you to trade poorly.

since the market spends most of its time consoldating than in trends teaches u to buy dips and sell rallies.

but the key is to identify a day like today as sticking with the trend...
Trading is 80% Emotional, 20% Technical
  • #60,878
  • Apr 8, 2008 7:12am Apr 8, 2008 7:12am
Quoting fx local
market can sometimes behaves like an opponent who is trying to teach you to trade poorly.

since the market spends most of its time consoldating than in trends teaches u to buy dips and sell rallies.

but the key is to identify a day like today as sticking with the trend...

took the ride down from 9778 to 9678 for exactly 100 pips in abt 5 hrs...:-))..
  • #60,879
  • Apr 8, 2008 7:19am Apr 8, 2008 7:19am
today 7:12am ns_karthik http://www.forexfactory.com/images/s...ser_online.gif
Member

took the ride down from 9778 to 9678 for exactly 100 pips in abt 5 hrs...:-))..

what u want a well done or something??!! been easy for shorts today instant gratification
Trading is 80% Emotional, 20% Technical
  • #60,880
  • Apr 8, 2008 7:37am Apr 8, 2008 7:37am
Just be careful guys, we have a pattern break out here @ 4H TF.

If you go long, take advance of the retracement @ lower TF's.

Take care traders,

From the jungle
Carrera
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