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Cable Update (GBPUSD)

  • #5,521
  • Feb 8, 2007 7:44am Feb 8, 2007 7:44am
I don't normally trade retraces and stick to my system focused on D1 and H4 timeframes, so major gamble and slip of discipline here...

how far up would cable daytrading experts expect it to go, 9620? 9650?
Consistency and patience is everything
  • #5,522
  • Feb 8, 2007 7:45am Feb 8, 2007 7:45am
Quoting mandoaddam
i was wait for retrace from 1.9581 to go long
so is this gona be >>> or it will go more down
plz need help
Hard to tell if it is going further down. I'm long at 9591 aiming 9610 then 9630 for retracement.

SL 9550 on safety, may get our earlier.
  • #5,523
  • Feb 8, 2007 7:48am Feb 8, 2007 7:48am
Fib retracement

High 9725 Low 9575
23 - 9610
38 - 9632 (93% chance to be reached on a 100+ daily range)
50 - 9650 (80% chance)
78 - 9667

IF 9575 is the low
  • #5,524
  • Feb 8, 2007 7:54am Feb 8, 2007 7:54am
it was not!... where now? - there is a major trendline @ ~ 9555
Consistency and patience is everything
  • #5,525
  • Feb 8, 2007 7:59am Feb 8, 2007 7:59am
that TL I just mentioned goes back to October and if it holds I think we might resume the longer term uptrend. If it breaks however, we may see a big fall to the low 90's soon.
Consistency and patience is everything
  • #5,526
  • Feb 8, 2007 8:01am Feb 8, 2007 8:01am
The one single trade you should have made this morning on GMT+1 time.
Attached Image
Trust price. Know yourself.
  • #5,527
  • Edited 8:17am Feb 8, 2007 8:02am | Edited 8:17am
The one single trade you should have made on GMT time this morning.
Attached Image
Trust price. Know yourself.
  • #5,528
  • Feb 8, 2007 8:09am Feb 8, 2007 8:09am
we are at the daily trendline here if it closes below it preferrable near 1.955 then then this going to be a start of down movement
  • #5,529
  • Feb 8, 2007 8:11am Feb 8, 2007 8:11am
yes, as said in post # 117
Consistency and patience is everything
  • #5,530
  • Feb 8, 2007 8:11am Feb 8, 2007 8:11am
sorry, meant post # 5529
Consistency and patience is everything
  • #5,531
  • Feb 8, 2007 8:12am Feb 8, 2007 8:12am
Quoting SeekingLight
The one singe trade you should have made on GMT time this morning.
Thanks Seeking... This was my first "no-hike" (2nd GB IR statement). I didn't imagined this big move would happen in a no-hike after having a morning down move ± 80 pips.

Well, it didn't happen with Euro and EUR is back on this morning's levels... Still don't know what Trichet has said on the wires, though.

Got myself quick 20 pips on 1st bouncing at 9666... Then lost the following move....
  • #5,532
  • Feb 8, 2007 8:13am Feb 8, 2007 8:13am
Euro and swissy not following ... euro pulling us back up ...anybody know why usd not strong or euro strong?
  • #5,533
  • Feb 8, 2007 8:14am Feb 8, 2007 8:14am
i guess this kind of move happened because even though a lot of traders thought that BOE wouldnt raise the rates they were waiting for confirmation so when they received it well you know what happened.
  • #5,534
  • Feb 8, 2007 8:22am Feb 8, 2007 8:22am
Quoting positivepips
Euro and swissy not following ... euro pulling us back up ...anybody know why usd not strong or euro strong?
Don't know... Actually GBP is not responding accordingly to EUR boost. I jumpped off of this retracement trade at 9597 for small profit... This down move maybe not done yet... breaking 9605 would be a nice place to long for retracement only... Yet risky... I'll not trade it for a while... Awaiting dust to settle....
  • #5,535
  • Feb 8, 2007 8:23am Feb 8, 2007 8:23am
Quoting positivepips
Euro and swissy not following ... euro pulling us back up ...anybody know why usd not strong or euro strong?
EURGBP.
Attached Image
Trust price. Know yourself.
  • #5,536
  • Feb 8, 2007 8:23am Feb 8, 2007 8:23am
[TRICHET] says he has not changed his view on the Yen since the last G7, i.e. has expected the Yen to eventually reflect the exit from zero inflation and better growth. Otherwise the G7 message was one that does not wish to see disorderly or too rapid fx moves. On the carry trade Trichet felt that the trend was likely to have been fostered by low volatility in global markets, and one should not jump to the conclusion that Yen carry trades were driving M3 counterparts. No change in expectations, and no change in fx levels. If anything his confirmed signal for a March move has added some momentum to Eur/Yen, the record high, 158.62, now looking attainable ahead of the weekend.
  • #5,537
  • Feb 8, 2007 8:36am Feb 8, 2007 8:36am
New fibo retracement

High - 9725
23 - 9604
38 - 9627
50 - 9646
61 - 9664
78 - 9691
LOW - 9566 (????) down move seems not overdone as of yet. We may see an agressive stop hunting downwards if the big boys wish

Previous fibo I was running:
HIGH - 9732
23 - 9686 - reached
38 - 9657 - reached
50 - 9634 - reached
61 - 9610 - reached
78 - 9577 - reached
LOW - 9535

Bigger timeframe fibo I'm running:

HIGH - 9913
23 - 9542 - reached
38 - 9646 - reached
50 - 9697 - reached
61 - 9748 - missed by 1 pip - Ok, reached.
78 - 9821 - yet to be visited
LOW - 9481
  • #5,538
  • Feb 8, 2007 8:41am Feb 8, 2007 8:41am
1HR
http://i2.photobucket.com/albums/y28/cesarnc/feb8-3.jpg
  • #5,539
  • Feb 8, 2007 8:44am Feb 8, 2007 8:44am
Quoting positivepips
Euro and swissy not following ... euro pulling us back up ...anybody know why usd not strong or euro strong?
still a bid on the euro, could be reason for strength. euro still needs to break above 1.3060ish for any real strength to emerge. right now it seems euro cant break over 1.3024(m3), but wait til after ten am, might see some more euro up move.
"i wake up in the morning, and i piss excellence"
  • #5,540
  • Feb 8, 2007 8:56am Feb 8, 2007 8:56am
Quoting trader69
still a bid on the euro, could be reason for strength. euro still needs to break above 1.3060ish for any real strength to emerge. right now it seems euro cant break over 1.3024(m3), but wait til after ten am, might see some more euro up move.
Still a bid on euro? after 10 am ... what am I missing ???
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