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Cable Update (GBPUSD)

  • #6,101
  • Feb 15, 2007 4:08am Feb 15, 2007 4:08am
Quoting ali_ekrami
i think price will touch 9600 now any idea...?
If just now it went 1.9600, I was waiting to short BIG TIME.

MIssed by 10pips.....too bad..not my day.

I think it will touch 1.9510 today hopefully

from 1.9666 to 1.9555 nice.

2molo maybe 1.9444.
  • #6,102
  • Feb 15, 2007 4:17am Feb 15, 2007 4:17am
sticking with my short
looking for 9500
+87 now
  • #6,103
  • Feb 15, 2007 4:21am Feb 15, 2007 4:21am
Stalled, or taking a breather?
Regards, Android.
  • #6,104
  • Feb 15, 2007 4:26am Feb 15, 2007 4:26am
In my opinion - looking at a 4Hr and Daily chart - for the near - long term the downside should be capped as there is a broad USD sell-off in place.

I have personally entered long at 1.9550 and see it going back up to pre data release level in the US session.

Looking at the trend of US data in the past 3 weeks i dont see major chances of data suprising to the better.

If the data from US does turn out better than forecast i will square my position (at the moment +20 pips) and look to get long again tomorrow before london open. Simply because all majors have broken the range and are now strenthening against the USD which should last for a while.

Regards,
Girish
  • #6,105
  • Feb 15, 2007 4:45am Feb 15, 2007 4:45am
Quoting gmohata
In my opinion - looking at a 4Hr and Daily chart - for the near - long term the downside should be capped as there is a broad USD sell-off in place.

I have personally entered long at 1.9550 and see it going back up to pre data release level in the US session.

Looking at the trend of US data in the past 3 weeks i dont see major chances of data suprising to the better.

If the data from US does turn out better than forecast i will square my position (at the moment +20 pips) and look to get long again tomorrow before london open. Simply because all majors have broken the range and are now strenthening against the USD which should last for a while.

Regards,
Girish
I dont know much about "data" has to offer or have offered but I'm with you. Still holding my long position.

Regards,
--TNT--
I Love Forex Factory!
  • #6,106
  • Feb 15, 2007 6:21am Feb 15, 2007 6:21am
Quoting Leugimp
If we hold below 9625 in next 300 ticks, there is a liklihood of price now ping-ponging between 9625 and 9550-9565 level, with bias to the upside up to 9666(devils pivot). For this reason I will set my additional buy order at 9555 and sl on total position moved to 9535.
Added to long @ 9555 trailing stop on whole position placed @ 9519 for now, looking to move it up shortly. Next profit target - 9720.
Man who scratches ass should not bite fingernails
  • #6,107
  • Feb 15, 2007 6:26am Feb 15, 2007 6:26am
Quoting Leugimp
Added to long @ 9555 trailing stop on whole position placed @ 9519 for now, looking to move it up shortly. Next profit target - 9720.
Dear, 9720!!!!!!!!!!!!!!!!!! maybe
  • #6,108
  • Feb 15, 2007 6:31am Feb 15, 2007 6:31am
if stopped out, will reinitiate small long @ 61.8 retrace on lower levg with stop initially below9466 level.
Man who scratches ass should not bite fingernails
  • #6,109
  • Feb 15, 2007 6:34am Feb 15, 2007 6:34am
I think for 240 tick, its better to sell 9570 Tp 9541 , 30 pip good
  • #6,110
  • Feb 15, 2007 6:36am Feb 15, 2007 6:36am
Quoting Leugimp
Added to long @ 9555 trailing stop on whole position placed @ 9519 for now, looking to move it up shortly. Next profit target - 9720.
Hey Leugimp,

I've been out of town and missed the morning rush. What U expecting from today's news? This non-retracement got me lost here. Cannt figure if it is a continuation pattern (down) or just a non-trading situation before US news...

Looks like news will be mixed but trending to USD-negative, what you think?

I'd like to see today closing way high to get a forecasted lousy PPI tomorrow and touching the roof. But it will depends on today's close...
  • #6,111
  • Feb 15, 2007 6:40am Feb 15, 2007 6:40am
Quoting mackaozy
Forget the technicals, trade the news.
Are you speaking to me! Thanks for the advice, but I use both and am doing rather well, if you look back through the posts, you will realize that this move was expected and that is why partial profits were taken. Anyway good luck to you, but instead of just posting how much money you make on your demo account, why not post your reasons for it and do it before the fact so that we may see it play out?
Man who scratches ass should not bite fingernails
  • #6,112
  • Feb 15, 2007 6:43am Feb 15, 2007 6:43am
[NORTH AMERICA FX OPEN] A huge day of speakers and data is in prospect, but the f/cs running in different directions are likely to result in turbulence, rather than any new underlying trend for the Usd.

Well, I'd rather skip and wait for tomorrow's PPI then...
  • #6,113
  • Feb 15, 2007 6:54am Feb 15, 2007 6:54am
Quoting cesarnc
Hey Leugimp,

I've been out of town and missed the morning rush. What U expecting from today's news? This non-retracement got me lost here. Cannt figure if it is a continuation pattern (down) or just a non-trading situation before US news...

Looks like news will be mixed but trending to USD-negative, what you think?

I'd like to see today closing way high to get a forecasted lousy PPI tomorrow and touching the roof. But it will depends on today's close...
To me this reaction was expected - I didn't believe it would happen this quickly but a bad retail sales figure will do that sort of thing, as for now, I see it rounding off and US Volume should kick us off to the upside, but there is more space to retrace if news is good - finally the 61.8 retrace should hold well As there are other strong Support levels clustered there, but overall i donot think we should get there(9550-9565 has proved itself as a key Resistance turned support level many times over) - Bernanke speaking again and if he repeats as yesterday, market will not even care how other US news came in today. Although I do feel the TIC data is important though. Anyway, if you want to look at a semi similar reference as to what we are going through here look at 12/13/06 - 12/20/06) i have been eyeballing this since end of january and although the bar constructions may be different, the overall movements are strikingly similar. If the pattern would continue the same way - it would be predicting a move to 61.8 retrace prior to moving up. Maybee just a coincidence but interesting nonetheless.
Man who scratches ass should not bite fingernails
  • #6,114
  • Feb 15, 2007 7:06am Feb 15, 2007 7:06am
Quoting Leugimp
Anyway, if you want to look at a semi similar reference as to what we are going through here look at 12/13/06 - 12/20/06) (...) the overall movements are strikingly similar.
Got it... Not intending to be a pain in the arse, this December move occured right at the 4h 250EMA, too.

Well, there's this downwards channel comencing 9913 that seems to be setting the boundaries here. And we're sitting right in the middle, pointing down...

That plus mixed news open room for turbulent reaction free to go either way...

Gotta wait for a better set up, possibly on Monday, since, as you well know, Friday stinks

Caipirinha, anyone?
  • #6,115
  • Feb 15, 2007 7:12am Feb 15, 2007 7:12am
Quoting cesarnc


.....Caipirinha, anyone?
You kill me with this. I need another vacation.
Man who scratches ass should not bite fingernails
  • #6,116
  • Feb 15, 2007 7:20am Feb 15, 2007 7:20am
we are holding above daily pivot - we may be setting up to railroad that last bar all the way back up and this is starting to look more and more like a bread and butter trade due to the thrust shown yesterday - very happy with this formation and if we railroad last bar back up will add even more to long and move sl on entire position up(most likely just below 9625).

Sounds a little preemptive but I like to be ready just in case, it makes execution much easier and cleaner.
Man who scratches ass should not bite fingernails
  • #6,117
  • Feb 15, 2007 8:17am Feb 15, 2007 8:17am
finally let back in, whew! I guess im not the only one as no posts have been made
Man who scratches ass should not bite fingernails
  • #6,118
  • Feb 15, 2007 8:21am Feb 15, 2007 8:21am
Quoting Leugimp
finally let back in, whew! I guess im not the only one as no posts have been made
Too many news today. Server jammed.
Tra-X
  • #6,119
  • Feb 15, 2007 8:24am Feb 15, 2007 8:24am
Quoting Leugimp
Added to long @ 9555 trailing stop on whole position placed @ 9519 for now, looking to move it up shortly. Next profit target - 9720.

trailing stop on whole position moved to 9540.
Man who scratches ass should not bite fingernails
  • #6,120
  • Feb 15, 2007 8:30am Feb 15, 2007 8:30am
My 15M news candle. Broker corrected 10 min later. Just don't know what would have happened with SL below the open...

http://i2.photobucket.com/albums/y28...feb_15_wtf.jpg
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