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Cable Update (GBPUSD)

  • #7,361
  • Mar 1, 2007 4:05am Mar 1, 2007 4:05am
Quoting Dexis
I'm rolling with -25 pips loss at the moment, still expecting for bullish results for GBP...
Dont hold your breath bud, the forecasts are not very promising on either front. Also later in thr day the US results may be better so potentially we have a short day for cable. I am out until newstime and will re-evaluate then.

Potentially we could have a drop to 9546 ish. We are continually bouncing off the 9619 which is 50ema on 1 hour. 9580 would be first res then if we break we go down to 9540's. I am struggling to find any real solid upside......

Thoughts appreciated !
  • #7,362
  • Mar 1, 2007 4:14am Mar 1, 2007 4:14am
Posted this in my journal, but thought it might help simplify here, too.

If you wait for these setups and only trade the good ones, there's no need to randomly throw money on in between.
Yesterday was a PB and even if though it was in traffic the .618 held.
I'm not expecting wonders from it just yet as 1.9630 pivot area is holding.
Then resistance at 1.9640 / 1.9670 / 1.9705 / 1.9730....

Am I still the only one who thinks two threads with 80% the same folks on the same topic are a bit....redundant?
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Trust price. Know yourself.
  • #7,363
  • Mar 1, 2007 4:16am Mar 1, 2007 4:16am
Quoting musicman007
Dont hold your breath bud, the forecasts are not very promising on either front. Also later in thr day the US results may be better so potentially we have a short day for cable. I am out until newstime and will re-evaluate then.

Potentially we could have a drop to 9546 ish. We are continually bouncing off the 9619 which is 50ema on 1 hour. 9580 would be first res then if we break we go down to 9540's. I am struggling to find any real solid upside......

Thoughts appreciated !
I'm on the upside big time BUT

- I don't take 9580 out the cards yet, for yen carries are again active, but right at a big time support, all of them. USD-positive may drag us down to this level, too.

- 9580 is 4hr 250EMA where the big bounce occured y'day, also GBPJPY driven.

- All down moves during this week - all of them - were not dollar strong move, were yen carries. So bias is dollar weaker

- On the upside 9640 will impose a hard resistance and I really don't know whether Cable will be fuelled enough to go through it. Nexts are obvious 9672 and 9700 area.

So I'm trading only to the upside, that means, no shorts on downwards move, buying dips.

MOst likely we're having a choppy day again.... Hold your nerves
  • #7,364
  • Mar 1, 2007 4:17am Mar 1, 2007 4:17am
Quoting musicman007
Dont hold your breath bud, the forecasts are not very promising on either front. Also later in thr day the US results may be better so potentially we have a short day for cable. I am out until newstime and will re-evaluate then.

Potentially we could have a drop to 9546 ish. We are continually bouncing off the 9619 which is 50ema on 1 hour. 9580 would be first res then if we break we go down to 9540's. I am struggling to find any real solid upside......

Thoughts appreciated !
I agree. Seems to be looking for any sign of negative news. Short at 9618.
  • #7,365
  • Mar 1, 2007 4:20am Mar 1, 2007 4:20am
Quoting musicman007
Dont hold your breath bud, the forecasts are not very promising on either front. Also later in thr day the US results may be better so potentially we have a short day for cable. I am out until newstime and will re-evaluate then.

Potentially we could have a drop to 9546 ish. We are continually bouncing off the 9619 which is 50ema on 1 hour. 9580 would be first res then if we break we go down to 9540's. I am struggling to find any real solid upside......

Thoughts appreciated !
I think I will do just that. The market is on steroids, it's boiling, it's about time for some serious-impact-data to come and stay in more clear direction, isn't it? For the past 2 days I've literally traded my nerves to B/E and I don't like that. It's about time for me to finish this more or less gambling-like trading and get some more synchronised with the market.

I'll just sit in front of my computer like a goddamn stone until things get more clear
  • #7,366
  • Mar 1, 2007 4:21am Mar 1, 2007 4:21am
I expect USD to stage a rebound soon.



I guess G/U Short players have made some money. Im always short especially if g/u goes near to 1.9640

Nice comments here everyone.

But remember you are the master of your own destiny
  • #7,367
  • Mar 1, 2007 4:27am Mar 1, 2007 4:27am
This is what I mean for "dollar weaker". See chart below

Please have in mind that I totally respect opposing views here. Actually I prefer reading opposing views and then decide to see everybody saying short and market going up, as happened last week...

And last but not least, when both sides have good reasons and this is reflected in price action, most likely the whole planet is at the same indecision... When this case occurs, I usually stay out and wait.
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  • #7,368
  • Mar 1, 2007 4:33am Mar 1, 2007 4:33am
I don't have the nerves for today, i think I'll just stay out till all news are out.
  • #7,369
  • Mar 1, 2007 4:33am Mar 1, 2007 4:33am
Quoting Dexis
I think I will do just that. The market is on steroids, it's boiling, it's about time for some serious-impact-data to come and stay in more clear direction, isn't it? For the past 2 days I've literally traded my nerves to B/E and I don't like that. It's about time for me to finish this more or less gambling-like trading and get some more synchronised with the market.

I'll just sit in front of my computer like a goddamn stone until things get more clear
So far this week I a have 172 + and 30- pips , so net 142 aint too shabby. Also my win/loss ratio is 7:1 .. again not to shabby.

It can be done but you have to control the emotional side ,,,,,,,, and thats from someone who is rather emotional at times.
  • #7,370
  • Mar 1, 2007 4:35am Mar 1, 2007 4:35am
Quoting kaesar
I don't have the nerves for today, i think I'll just stay out till all news are out.
We are on the same boat mate
  • #7,371
  • Mar 1, 2007 4:36am Mar 1, 2007 4:36am
I still think there is a boost up coming up.... Gut feeling, that's all.
  • #7,372
  • Mar 1, 2007 4:41am Mar 1, 2007 4:41am
This is a bit off topic, but I've noticed on the pair GBP/CHF daily chart there is a strong support line since beginning of 2007, which so far provided a good support @ 2.3815. Any thoughts? Opportunity?
  • #7,373
  • Mar 1, 2007 4:49am Mar 1, 2007 4:49am
Quoting musicman007
So far this week I a have 172 + and 30- pips , so net 142 aint too shabby. Also my win/loss ratio is 7:1 .. again not to shabby.

It can be done but you have to control the emotional side ,,,,,,,, and thats from someone who is rather emotional at times.
Congratuliations on profit
Well it's not like i start smashing my head into the monitor, in fact I do usually trade like a stone, but it somewhat irritates me when I cannot force myself NOT TO TRADE. "Not to trade" is also a position!
  • #7,374
  • Mar 1, 2007 4:53am Mar 1, 2007 4:53am
Quoting Dexis
This is a bit off topic, but I've noticed on the pair GBP/CHF daily chart there is a strong support line since beginning of 2007, which so far provided a good support @ 2.3815. Any thoughts? Opportunity?
All majors/CHF sank on that Iran rumors last week. It is a good buying opportunity, unless something comes up from that area...

As one of the rumors was "US special forces inside Iran ready to go hot early this week", I guess Majors/CHF will hold at this level for sometime...
  • #7,375
  • Mar 1, 2007 4:57am Mar 1, 2007 4:57am
Quoting Dexis
Congratuliations on profit
Well it's not like i start smashing my head into the monitor, in fact I do usually trade like a stone, but it somewhat irritates me when I cannot force myself NOT TO TRADE. "Not to trade" is also a position!
A decision NOT to trade is in my view a very, very wise decision. It means that you understand the risks involved and that you understand where the market is at any point in time and the influencers on it. The worst thing you can do is over trade outa fear that you should be doing something.

It took me a while to really understand this and apply it to my behaviour, but it works. Good luck.
  • #7,376
  • Mar 1, 2007 5:03am Mar 1, 2007 5:03am
Bad news, huge spike down of 5 pips.

I'm a Cable buyer as soon as Euro bounces this second push down...

Expect price to wait for US news in a higher level...

Not a recommendation...
  • #7,377
  • Mar 1, 2007 5:04am Mar 1, 2007 5:04am
Strange days, cable seems diconnected from the news !!! another good reason to keep out !!!
  • #7,378
  • Mar 1, 2007 5:05am Mar 1, 2007 5:05am
Quoting Dexis
Congratuliations on profit
Well it's not like i start smashing my head into the monitor, in fact I do usually trade like a stone, but it somewhat irritates me when I cannot force myself NOT TO TRADE. "Not to trade" is also a position!
ahh ...your sub title name, fx addict may have somehting to do with it ... you are what you think you are!
  • #7,379
  • Mar 1, 2007 5:06am Mar 1, 2007 5:06am
Quoting kaesar
Strange days, cable seems diconnected from the news !!! another good reason to keep out !!!

GOd, I think cable looks disconnected from the world.. what is going on!!!! aaarrrgghhh


stop me overtrading... arrgghh
  • #7,380
  • Mar 1, 2007 5:12am Mar 1, 2007 5:12am
Quoting patricio0793
GOd, I think cable looks disconnected from the world.. what is going on!!!! aaarrrgghhh


stop me overtrading... arrgghh
In the words of Tony Blair " I refer my honourable friend to the answer I gave a few moments before"
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