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Cable Update (GBPUSD)

  • #7,321
  • Feb 28, 2007 11:34am Feb 28, 2007 11:34am
Quoting Traex
Actually cesarnc, that's one kind of pattern I'm waiting from cable since I don't have any position now lol. This thing really likes to blow my wave count off the window lol. Oh yea, it's a tomahawk so it has a rocket engine capable of doing that, I admit.
This wasn't a choppy day at all. A lot of pips were thrown to the air here, but I know that picking the right direction and exiting at the best price is a hell of a job... This is the kind of day that I loose the most for being impatient and closing negative trades too soon.

So today I placed a long at 9581, after the recovery from 9530s, SL at 9541 and TP at 9620 and let it for the ride. Whatever triggered I'd call it a day.

Worked, but it was 1 tick from gambling. The other option would be staying out of the market.

THere may be some spikes now, as positions are being closed for the month. But I see no direction anymore...
  • #7,322
  • Feb 28, 2007 11:39am Feb 28, 2007 11:39am
Quoting cesarnc
This is the kind of day that I loose the most for being impatient and closing negative trades too soon.
that's what i've been doing all day, closing at the wrong time !!!! now this tomahawk seems to be sabotaged for good now !!!
  • #7,323
  • Feb 28, 2007 11:41am Feb 28, 2007 11:41am
If you look at the Doji candle formed on 13th of Feb, you will notice it was followed by a strong bull candle, and the pattern repeats as of 19th and 22nd February, and lastly today. This may strongly suggest that we may see a a bullish candle as well. What supports this theory is the strong support line as shown in the chart.
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  • #7,324
  • Feb 28, 2007 11:55am Feb 28, 2007 11:55am
Quoting forexenator
If you look at the Doji candle formed on 13th of Feb, you will notice it was followed by a strong bull candle, and the pattern repeats as of 19th and 22nd February, and lastly today. This may strongly suggest that we may see a a bullish candle as well. What supports this theory is the strong support line as shown in the chart.
That's what I expect for tomorrow, too. But there's this busy fundamentals agenda for tomorrow and yen carries ghosts by Frankfurt open.

It's likely to be another bumpy day, but I'll remain 100% to the long side: it doesn't mean that I expect price to go straight up. It means that I'll not place shorts when price is going down and will place longs when recoveries take place. This will be my strategy again. Worked fine those last few days.
  • #7,325
  • Feb 28, 2007 11:59am Feb 28, 2007 11:59am
Quoting cesarnc
It means that I'll not place shorts when price is going down and will place longs when recoveries take place. This will be my strategy again. Worked fine those last few days.
Those last few days were the bread and butter for scalpers and short swing traders. Unfortunately, I was just one of the audience. But, I hope to se some big movements soon.
  • #7,326
  • Feb 28, 2007 12:09pm Feb 28, 2007 12:09pm
The ECB's [TRICHET] is commenting on FX, though adding little to previous statements. He says he sticks to the G7 communique on currencies (which concentrated on the need for emerging FX reform) and that when there is a strong message to be given on FX, they will give it. He urges great caution and verbal discipline with respect to Eur/Usd(1), suggesting the bank both wishes to refrain from influencing the market and, at present, sees no need to do so. In that respect, note the 1.55 level which was suggested as something of a pain level in the pair around the turn of the year(2), compared to expectations during 2006 that a move through 1.30 would cause problems(3).

(1) Sometimes I just cannot have verbal discipline here
(2)
(3) already there...

Is dollar about to sink that deep?????????
  • #7,327
  • Feb 28, 2007 1:18pm Feb 28, 2007 1:18pm
Quoting cesarnc
The ECB's [TRICHET] is commenting on FX, though adding little to previous statements. He says he sticks to the G7 communique on currencies (which concentrated on the need for emerging FX reform) and that when there is a strong message to be given on FX, they will give it. He urges great caution and verbal discipline with respect to Eur/Usd(1), suggesting the bank both wishes to refrain from influencing the market and, at present, sees no need to do so. In that respect, note the 1.55 level which was suggested as something of a pain level in the pair around the turn of the year(2), compared to expectations during 2006 that a move through 1.30 would cause problems(3).

(1) Sometimes I just cannot have verbal discipline here
(2)
(3) already there...

Is dollar about to sink that deep?????????
seriously... that would put the GBP/USD at 2.20
I think trichet is puffing a bit of smoke out his a** just maybe?
but it might be fun for us in forex
the us economy would turn to sh** really fast...eeewww
  • #7,328
  • Feb 28, 2007 1:45pm Feb 28, 2007 1:45pm
Quoting positivepips
seriously... that would put the GBP/USD at 2.20
I think trichet is puffing a bit of smoke out his a** just maybe?
but it might be fun for us in forex
the us economy would turn to sh** really fast...eeewww
Yup, unless EUR/GPB moves drastically...

This 1.55 is possibly the big border to have in mind, but puts 1.40 and 1.45 in a foreseeable future, and that would put Cable above 2.0000 easily... And we're not that far from it now...
  • #7,329
  • Feb 28, 2007 1:51pm Feb 28, 2007 1:51pm
its getting interesting
its just money
  • #7,330
  • Feb 28, 2007 1:53pm Feb 28, 2007 1:53pm
Quoting de123
its getting interesting
Nice chance to scare the shit out of the stops at 9670s, at THIS time of THIS day.....

Marriages will collapse if that happens....
  • #7,331
  • Feb 28, 2007 2:00pm Feb 28, 2007 2:00pm
to be honest im looking for breakout on 4h futures, then i go short and when stop moving long again u, short already?...but i might not see the breakout afteralll, have little doubt about our analise... ...or guess i will..well ididnt...fuck it.lol
its just money
  • #7,332
  • Feb 28, 2007 2:00pm Feb 28, 2007 2:00pm
Quoting cesarnc
Nice chance to scare the shit out of the stops at 9670s, at THIS time of THIS day.....

Marriages will collapse if that happens....
LOL, i'm happy i got out with no scars today still not worried about my marriage but almost did
  • #7,333
  • Feb 28, 2007 2:09pm Feb 28, 2007 2:09pm
I always wait for hours before trading near this 4h 250EMA. Look the HELL OF A BOUNCE we have here today. The 250EMA was right at the upwards trendline. This is a support, yes sir.

This is not unusual for weeks. On breaking in the 4 hr, it becomes resistance in a minute, making it hard to go back up...

Stay alert or go do something else when price is here...

I see upwards channel sovereign to the yen carry and henrycarol attacks, upward trend line holding, big room for the bulls to fool around here.

Tomorrow is going to be an interesting day...

Have to leave. be back later on....
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  • #7,334
  • Feb 28, 2007 4:04pm Feb 28, 2007 4:04pm
Negative forecast for GBP news tomorrow, positive forecast for USD !!!
  • #7,335
  • Feb 28, 2007 4:27pm Feb 28, 2007 4:27pm
Quoting kaesar
Negative forecast for GBP news tomorrow, positive forecast for USD !!!
It sure looks like that...

BUT, I ain't bouncing anymore

Entered LONG, Will forget about this for about 3-5 days
  • #7,336
  • Feb 28, 2007 7:48pm Feb 28, 2007 7:48pm
Who knows? Actually I'm starting to show signs of SHORTING at the moment.Nothing solid yet. I'll be able to make a better call about midnight EST........see you guys later! Good trades ahead!
Show me the PIPS!
  • #7,337
  • Mar 1, 2007 12:49am Mar 1, 2007 12:49am
Still ranging so far........ have to wait and see what Frankfurt and London do. I need coffee! That I know!
Show me the PIPS!
  • #7,338
  • Mar 1, 2007 1:19am Mar 1, 2007 1:19am
Quoting tathlynq
Still ranging so far........ have to wait and see what Frankfurt and London do. I need coffee! That I know!

Do u think 1.9525 is a good support .... is the short still there ....
  • #7,339
  • Mar 1, 2007 1:24am Mar 1, 2007 1:24am
Quoting deboooo2005
Do u think 1.9525 is a good support .... is the short still there ....
Right now it is fighting the 200 EMA which is always a good support resistance. 1.9590 area. Personally I am looking for a close below 1.9570 to consider SHORT. Which it's heading down now as I type this.
Show me the PIPS!
  • #7,340
  • Mar 1, 2007 1:45am Mar 1, 2007 1:45am
Quoting tathlynq
Right now it is fighting the 200 EMA which is always a good support resistance. 1.9590 area. Personally I am looking for a close below 1.9570 to consider SHORT. Which it's heading down now as I type this.
I just do not see any clear evidence of direction now. All I see is a great deal of sideways movement, and nothing else. It may take news for a direction to emerge.
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