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Cable Update (GBPUSD)

  • #7,601
  • Mar 2, 2007 7:55am Mar 2, 2007 7:55am
Quoting cesarnc
Is anyone of you guys believing your very eyes right now???

Cable is so damn oversold in the 15M that price is going down and indicators are going up
No kiddin' ? I've only got candlesticks and RSI on my screen, but will definitely check this out
  • #7,602
  • Mar 2, 2007 7:55am Mar 2, 2007 7:55am
Quoting wep561
Strong support in 9400/9410 area. If broken - looking for 9320.
Tempted to take a long above 9450 but Bernake is speaking at 11:00. Seems that everytime that dude opens his mouth, I loose money.
No stops are being triggered today... May happen later on to boost the whole market back up.

But if the market fails to retrace today, then I'm a buyer at 9226
  • #7,603
  • Mar 2, 2007 7:56am Mar 2, 2007 7:56am
Actually the effect of Bernanke speaking is negative USD, so a long would most likely to be a good position to be in. I do not think that I would like to be shorting cable when he is speaking.
  • #7,604
  • Mar 2, 2007 7:56am Mar 2, 2007 7:56am
Quoting Dexis
No kiddin' ? I've only got candlesticks and RSI on my screen, but will definitely check this out
YEAH... My indicators are "on close". So price spikes down and close up, so you see price going lower and indicators going up
  • #7,605
  • Mar 2, 2007 8:05am Mar 2, 2007 8:05am
Quoting cesarnc
No stops are being triggered today... May happen later on to boost the whole market back up.

But if the market fails to retrace today, then I'm a buyer at 9226
Makes sense to me. Below 9390 I think that I might sell again since Bernake is expected to mouth up the dollar today. Maybe Cable is catching onto the GJ train?
I would also be a buyer in the low 92's but my indicators say "it ain't gonna happen" before 9550.
  • #7,606
  • Mar 2, 2007 8:06am Mar 2, 2007 8:06am
[USD/JPY] is lower and testing that 116.80 major trendline again (stretches back to May 17 2006's 108.97 low). Large stops are reportedly in place just below, but we suspect the sell trigger zone is more likely to come in through 116.70. The latter houses a barrier, with a purported Usd 5mln payout, which expires on March 7. Tech contacts also tell us major resistance points have been tripped on the Yen/Crosses today also, i.e. versus Aud, Eur, Gbp.

I dumped my position for small profit, awaiting confirmation now...

Cable is to go through 9400, isn't it?
  • #7,607
  • Mar 2, 2007 8:07am Mar 2, 2007 8:07am
I'm done trading for today, took a one nice profit of 180 pips on GBP/JPY, YES SIR! It's friday, it's about time to bail out

Big thanks to everyone for comments and tips, may the pips be with you for the rest of the day
  • #7,608
  • Mar 2, 2007 8:09am Mar 2, 2007 8:09am
Quoting wep561
Makes sense to me. Below 9390 I think that I might sell again since Bernake is expected to mouth up the dollar today. Maybe Cable is catching onto the GJ train?
I would also be a buyer in the low 92's but my indicators say "it ain't gonna happen" before 9550.
henrycarol wasn't really believing in 9444 today... This is a anything can happen day...

US big money hasn't arrived yet. Don't know what direction they will pick, but the carry dumping was strong y'day during NY session until US news...

I'm still on the downside.. Too much time Cable is holding at an unbelievable low level ACROSS THE BOARD...
  • #7,609
  • Mar 2, 2007 8:11am Mar 2, 2007 8:11am
you would think so, but i just don't see it. the only people who want a weak dollar are the americans... so i bet no matter how weak they make their currency, it won't go down. see the news from 2 days ago.

Quoting moonchild
Actually the effect of Bernanke speaking is negative USD, so a long would most likely to be a good position to be in. I do not think that I would like to be shorting cable when he is speaking.
Nihil Sine Deo.
  • #7,610
  • Mar 2, 2007 8:13am Mar 2, 2007 8:13am
probably down to 1.9374... but i'm not willing to take this risk now.

Quoting cesarnc
[USD/JPY] is lower and testing that 116.80 major trendline again (stretches back to May 17 2006's 108.97 low). Large stops are reportedly in place just below, but we suspect the sell trigger zone is more likely to come in through 116.70. The latter houses a barrier, with a purported Usd 5mln payout, which expires on March 7. Tech contacts also tell us major resistance points have been tripped on the Yen/Crosses today also, i.e. versus Aud, Eur, Gbp.

I dumped my position for small profit, awaiting confirmation now...

Cable is to go through 9400, isn't it?
Nihil Sine Deo.
  • #7,611
  • Mar 2, 2007 8:21am Mar 2, 2007 8:21am
Quoting cesarnc
henrycarol wasn't really believing in 9444 today... This is a anything can happen day...

US big money hasn't arrived yet. Don't know what direction they will pick, but the carry dumping was strong y'day during NY session until US news...

I'm still on the downside.. Too much time Cable is holding at an unbelievable low level ACROSS THE BOARD...
Yeah, at this point T/A on anything other than a daily or H4 is useless. My daily is showing room for another 200 pip drop but I don't expect it to happen today.
Even my H4 is too hot to touch !!!
  • #7,612
  • Mar 2, 2007 8:26am Mar 2, 2007 8:26am
I´ve found a new indicator for cable......its called the Yen!

Close your Euro and Swissy charts and just open a GBP/JPY chart - the 5 min is just like cables 5 min.

Cable´s about 110 pips below its 200ema - which is an extreme reading and GBPJPY´s about 250 pips under its 200ema - also at an extreme.

Now GBPJPY looks as if might have bottomed for now at 226.80 about 25 mins ago....lets see if cable follows - it may have turned off 9412 about 5 mins ago.
Trading Levels with WRBs
  • #7,613
  • Mar 2, 2007 8:26am Mar 2, 2007 8:26am
Quoting Scrat
probably down to 1.9374... but i'm not willing to take this risk now.
Look how the Cable is faltering every time the yen pairs pick up a bit..

When the real rebound in the yen pairs comes, will this lead the Cable down to 1.90 eventually? I am betting on that..
  • #7,614
  • Mar 2, 2007 8:27am Mar 2, 2007 8:27am
  •  Trader#0000
  • | Status: Unregistered Trader
Daily shows still room for it to go down more.

This sell move was shown to us 2 days ago. We had a hanging man candle which occurs after an uptrend ... it forcasts bearish to come and that is what has happened.

Techical analysis works !
Attached Image
  • #7,615
  • Mar 2, 2007 8:30am Mar 2, 2007 8:30am
As someone trying to day-trade the New York Session, well, I'm finding NY frustrating. It seems the London session is most often a mover and New York is either dead or choppy, uh, but you knew that.Anyway I know some of you guys, like me, are East Coast traders so my question is : how early do you get up? I was trying to trade London for a while with mixed results because after a few days my lack of sleep started really effecting my judgment. Do you go to bed at 7 pm? Do you skip "Freakfurt" altogether? Can you skip the open and just get there at 5 or 6 AM EST? Hit that Red Bull in the AM ? Am I just a wuss who should be able to trade NY? ( OK don't answer that one...)
In short- how do you deal w the Time Zone issue?Your sage advice would be most appreciated.
  • #7,616
  • Mar 2, 2007 8:34am Mar 2, 2007 8:34am
Quoting Taters
As someone trying to day-trade the New York Session, well, I'm finding NY frustrating. It seems the London session is most often a mover and New York is either dead or choppy, uh, but you knew that.Anyway I know some of you guys, like me, are East Coast traders so my question is : how early do you get up? I was trying to trade London for a while with mixed results because after a few days my lack of sleep started really effecting my judgment. Do you go to bed at 7 pm? Do you skip "Freakfurt" altogether? Can you skip the open and just get there at 5 or 6 AM EST? Hit that Red Bull in the AM ? Am I just a wuss who should be able to trade NY? ( OK don't answer that one...)
In short- how do you deal w the Time Zone issue?Your sage advice would be most appreciated.
I was up at Fra open when Brazil was at DST (that would be 5 am local). Now we are back to GMT-3, I can't make it any earlier... Wake up at 5.am here for London open...

Use the freaking weekend 50% to recover sleep time 50% to hear my wife shouting her throat out on me
  • #7,617
  • Mar 2, 2007 8:35am Mar 2, 2007 8:35am
We have a doji candle inside the BB on 30 min chart.
  • #7,618
  • Mar 2, 2007 8:39am Mar 2, 2007 8:39am
Quoting Taters
As someone trying to day-trade the New York Session, well, I'm finding NY frustrating. It seems the London session is most often a mover and New York is either dead or choppy, uh, but you knew that.Anyway I know some of you guys, like me, are East Coast traders so my question is : how early do you get up? I was trying to trade London for a while with mixed results because after a few days my lack of sleep started really effecting my judgment. Do you go to bed at 7 pm? Do you skip "Freakfurt" altogether? Can you skip the open and just get there at 5 or 6 AM EST? Hit that Red Bull in the AM ? Am I just a wuss who should be able to trade NY? ( OK don't answer that one...)
In short- how do you deal w the Time Zone issue?Your sage advice would be most appreciated.
That funny because I have exactly the same issues living in EST. I am at my computer at 1 AM normally to catch the last hour of the Asian session and trade through Frankfurt, London and 4 hours into the NY session. Sleep when I can during non trading hours.
A couple of years ago GU was exactly the opposite with the NY session being the driving force. I'm thinking about moving to Europe myself.
  • #7,619
  • Mar 2, 2007 8:41am Mar 2, 2007 8:41am
Quoting cesarnc
...Use the freaking weekend 50% to recover sleep time 50% to hear my wife shouting her throat out on me
Lol- Right!
Thx
  • #7,620
  • Mar 2, 2007 8:42am Mar 2, 2007 8:42am
is 9444 a resistance now????



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