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Cable Update (GBPUSD)

  • #5,701
  • Feb 12, 2007 1:33am Feb 12, 2007 1:33am
on the 1 hr chart we have bounced the 250 ema and we are very much in the area of the previous 4 mounth rising trend line, which was support now turned resistance. the london open should give a clearer direction.
  • #5,702
  • Feb 12, 2007 1:40am Feb 12, 2007 1:40am
Quoting gnspdr33
on the 1 hr chart we have bounced the 250 ema and we are very much in the area of the previous 4 mounth rising trend line, which was support now turned resistance. the london open should give a clearer direction.
It would be the 4hr 250EMA, isnt it(9568)? I have 1hr 250EMA = 9622 here...
  • #5,703
  • Feb 12, 2007 1:46am Feb 12, 2007 1:46am
Quoting cesarnc
It would be the 4hr 250EMA, isnt it(9568)? I have 1hr 250EMA = 9622 here...
too early and my typing is poor. the 4 hour it should be. thank you cesarnc. we have also returned to the 38.2 fib from 1.9727 to 1.9454
  • #5,704
  • Feb 12, 2007 1:48am Feb 12, 2007 1:48am
Quoting gnspdr33
too early and my typing is poor. the 4 hour it should be. thank you cesarnc
Just checking here... 5:48 am, so I may be making mistakes, too
  • #5,705
  • Feb 12, 2007 2:03am Feb 12, 2007 2:03am
Low 1h FRA = 9516. Jumpped off for 30+ pips here and awaiting 9616 breached to resume a short position.

Fra open = 9553

Let's see what London is gonna do. EUR has a 1hr Frankfurt pin-bar, suggesting down....
  • #5,706
  • Feb 12, 2007 2:17am Feb 12, 2007 2:17am
Quoting cesarnc
Low 1h FRA = 9516. Jumpped off for 30+ pips here and awaiting 9616 breached to resume a short position.

Fra open = 9553

Let's see what London is gonna do. EUR has a 1hr Frankfurt pin-bar, suggesting down....
short at 1.9508 with 1st tp at 1.9470
  • #5,707
  • Feb 12, 2007 3:00am Feb 12, 2007 3:00am
MACD daily chart is showing a bearish divergence, i think G U will go down ward this week....
I place sell order on 1.9480 TP 1.9300....
  • #5,708
  • Feb 12, 2007 3:02am Feb 12, 2007 3:02am
I am still long, long since before London...
I am just here to talk nonsense =D
  • #5,709
  • Feb 12, 2007 3:05am Feb 12, 2007 3:05am
There are news coming up in 1/2 hr. Expectation is GBP-negative.

I'm wondering whether or not Cable will retest the 9460 area today. If breached, the bears are lose.

If bounce, it will be a heck of a double bottom to work with....

Also curious about the US session today, post-G7. We may see some carry trading on the move here. But my biggest concern is whether or not US will go on being absent after NYC open.

That's why I decided to trade heavy on the Euro session, not to depend on US to profit. It is key to have a position in place at Frankfurt open, whatever the direction. And a SAR at about 20-30 pips from open price.

If London open and head back to Frankfurt open it is comon that it hunts some stops at Fra open ± 10 pips or take it out heavily reversing the direction.

So SAR between 20-30 seems to work fine, based on the back test I've made on 1hr from Jan 02.

If I've chosen to go long at Fra, I'd be SARed at 9725 and would have B/E by now and ready to start profitting until the 9470 area.

As I'm not confortable with this strategy YET, today I'm staying out for the day after pocketing 35 pips ... But will be watching closely to be able to trust it
  • #5,710
  • Feb 12, 2007 3:05am Feb 12, 2007 3:05am
That comes out this week and I suspect it will be NEGATIVE for the dollar. We'll see though...........
Show me the PIPS!
  • #5,711
  • Feb 12, 2007 3:07am Feb 12, 2007 3:07am
Long since 1.9495. Trying to exercise patience. That last hourly bar looks as though it may have long possibilities.
  • #5,712
  • Feb 12, 2007 3:17am Feb 12, 2007 3:17am
Rather than scalping around for a few pips in a fairly directionless and unpredictable period like early this am, you guys should give GBP/JPY a try (unless you are trading it already). I only started this pair last 2 weeks as I was previously put off by the spread 2x that GBP/USD, but I learned that this baby seriously tanks when it moves and last night I made 120 pips on a fairly predictable up move (see also owner of GBP/JPY thread) that now allows me sit aside passively and happily until direction becomes clearer.

Point is not gloating and some of you may be happy to spend a lot of time making 15 pips here and there, but it is nice to reach one's target with nice big moves and not have to rely on many little trades (where at the end of the day you can easily come out with nothing). Also thought of this when a recent post talked about needing to get into position this am just in case nothing happens during NY session.

But maybe we get direction here in 15 mins. Happy trading everyone.
Consistency and patience is everything
  • #5,713
  • Feb 12, 2007 3:27am Feb 12, 2007 3:27am
Quoting Geldmeister
Rather than scalping around for a few pips in a fairly directionless and unpredictable period like early this am, you guys should give GBP/JPY a try (unless you are trading it already). I only started this pair last 2 weeks as I was previously put off by the spread 2x that GBP/USD, but I learned that this baby seriously tanks when it moves and last night I made 120 pips on a fairly predictable up move (see also owner of GBP/JPY thread) that now allows me sit aside passively and happily until direction becomes clearer.

Point is not gloating and some of you may be happy to spend a lot of time making 15 pips here and there, but it is nice to reach one's target with nice big moves and not have to rely on many little trades (where at the end of the day you can easily come out with nothing). Also thought of this when a recent post talked about needing to get into position this am just in case nothing happens during NY session.

But maybe we get direction here in 15 mins. Happy trading everyone.
Hey Geld,... the spread scared me when I tried this pair. And with this Yen issu pre-G7, I decided to stp off... I'm not familiar with the pair...

But it seems to be a heck of a pair to trade...

I'm working on how to improve profit with Cable, rather than start studying other pairs. I've noticed that I was loosing way too much good pips awaiting direction.... Some times 30 pips only to see if the direction confirmed. Well, could have banked those pips and stepped out on stall..., then jumpping in again or putting a trailing stop.

Jumpping on the spike always costed me a buck on the whipsaws. We'd better have a position in place, this is KEY. If go against, just SAR and B/E at least... Cable permits that.
  • #5,714
  • Feb 12, 2007 3:37am Feb 12, 2007 3:37am
first tp at 1.9470 taken out. 100+ pip daily range already made. 1.9415 which is the 76.4% of the move from 1.9265 to 1.9915 may be in sight.
  • #5,715
  • Feb 12, 2007 3:41am Feb 12, 2007 3:41am
Quoting gnspdr33
first tp at 1.9470 taken out. 100+ pip daily range already made. 1.9415 which is the 76.4% of the move from 1.9265 to 1.9915 may be in sight.
WAY TO GO...

How nice is making 100 pips on a Monday, first hours of Euro session?

Definetely not another "Lousy Monday" today....
  • #5,716
  • Feb 12, 2007 3:44am Feb 12, 2007 3:44am
Now we gonna have a real pin bar in the making to go long...
I am just here to talk nonsense =D
  • #5,717
  • Feb 12, 2007 3:46am Feb 12, 2007 3:46am
Quoting cesarnc
WAY TO GO...

How nice is making 100 pips on a Monday, first hours of Euro session?

Definetely not another "Lousy Monday" today....
sorry if i implied i made 100 pips today. only stating that pound has moved 100+ pips already today. probably means US will be dead again today.
  • #5,718
  • Feb 12, 2007 3:48am Feb 12, 2007 3:48am
Quoting Zarul Shahrin
Now we gonna have a real pin bar in the making to go long...
more likely the making of a lower daily low first
  • #5,719
  • Feb 12, 2007 3:50am Feb 12, 2007 3:50am
Quoting gnspdr33
sorry if i implied i made 100 pips today. only stating that pound has moved 100+ pips already today. probably means US will be dead again today.
Oh.. too bad... Hope you've made some pips out of those 100+.

I made myself 35 and chickened out .

Now I want to see where it is going for the day, specially with US market playing, as to figure out what to do tomorrow...

Now if we're looking at a 200 pips Monday, it will be pure madness...

(well, Cable has shown to loooove madness )
  • #5,720
  • Feb 12, 2007 3:57am Feb 12, 2007 3:57am
Quoting cesarnc
Oh.. too bad... Hope you've made some pips out of those 100+.

I made myself 35 and chickened out .

Now I want to see where it is going for the day, specially with US market playing, as to figure out what to do tomorrow...

Now if we're looking at a 200 pips Monday, it will be pure madness...

(well, Cable has shown to loooove madness )
38 for me and i also chickened. but isn't that a decent start to a week. have been watching the eur/jpy which moves decently while we wait for the pound to find lt's direction. the spread is more to my liking
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