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Cable Update (GBPUSD)

  • #8,121
  • Mar 12, 2007 6:55am Mar 12, 2007 6:55am
Quoting Qwiktrader
I had a long position in last night before I went to bed at 9330 with a TP at 9430 and I woke up this morning opened up my account, and all I saw was this huge drop and went ohh shit how much am I down from this one. When I saw my account up significantly and looked at the history I found son of a gun there is a Forex God as I sold at the exact high of the day. WOW!!!!
TP right at the pip... way to go
  • #8,122
  • Mar 12, 2007 7:00am Mar 12, 2007 7:00am
What did you do Henrycarol?
Show me the PIPS!
  • #8,123
  • Mar 12, 2007 7:14am Mar 12, 2007 7:14am
My Cat went long at 9400, too...

Poor animal...

http://www.catsizeentertainment.com/...omputercat.jpg
  • #8,124
  • Mar 12, 2007 7:26am Mar 12, 2007 7:26am
Quote
My Cat went long at 9400, too...
Poor animal...
That made my day!
  • #8,125
  • Mar 12, 2007 7:27am Mar 12, 2007 7:27am
is that really your cat? How cute!!!

I'm glad I had no conviction and didn't jump in on any trades yet, I wouldn't have gotten out of the Euro in time to make any real pips and well the GBP is pretty much in the same area. However if the Euro tests 13180 again and the GBP hasn't rallied back to the 193 levels, I'll be shorting Euro with hopes of 13120 TP. I'm staying out the GBP for now.
  • #8,126
  • Mar 12, 2007 7:28am Mar 12, 2007 7:28am
Quoting cesarnc
My Cat went long at 9400, too...

Poor animal...

http://www.catsizeentertainment.com/...omputercat.jpg
That's classic! That's how I looked when I got up this AM after entering LONG at 1.9390 earlier this AM! HA!
Show me the PIPS!
  • #8,127
  • Mar 12, 2007 7:32am Mar 12, 2007 7:32am
Glad you all liked it... Facing this kind of market without a little piece of humor and I'm as good as dead.
  • #8,128
  • Mar 12, 2007 7:39am Mar 12, 2007 7:39am
Quote
Glad you all liked it... Facing this kind of market without a little piece of humor and I'm as good as dead.
I'm almost dead today. Only sitting like a zombie here and can't believe that last move. Your cat saved me from my bad thoughts about how stupid I am and how less dicipline I have. Had good laugh.
Thanks for your good taste of humor!
  • #8,129
  • Mar 12, 2007 7:43am Mar 12, 2007 7:43am
close trade 1.9303
  • #8,130
  • Mar 12, 2007 7:45am Mar 12, 2007 7:45am
Quoting 59fender
close trade 1.9303
Why didnt wait for 9320?
Tra-X
  • #8,131
  • Mar 12, 2007 7:45am Mar 12, 2007 7:45am
Quoting tathlynq
That's classic! That's how I looked when I got up this AM after entering LONG at 1.9390 earlier this AM! HA!
didn't you short 1.9430?
  • #8,132
  • Mar 12, 2007 7:47am Mar 12, 2007 7:47am
I still don't believe in the downside. However, moves like that chew stop losses and spit them out just to retrace back to the price in a few hours... This is nasty for short accounts x 10K lots. That's why I'm on micro lots only. And I kept adding every 50pips down.

My disbelief in the downside is because NYSE just recovered from a lousy open and GJ went up 100+ pips already. A good NYC session may take us back to 9400s still today.

But this huge volatility remains around the corner. If any CEO says "lost my wallet this morning" GJ will fall 200 pips.
  • #8,133
  • Mar 12, 2007 7:49am Mar 12, 2007 7:49am
Quoting Traex
Why didnt wait for 9320?
looks like the move is over
  • #8,134
  • Mar 12, 2007 7:52am Mar 12, 2007 7:52am
Quoting 59fender
looks like the move is over
This time is good for scalping. 9320 is 38.2% retracement of current fall. Well maybe you're right too lol.
Tra-X
  • #8,135
  • Mar 12, 2007 7:59am Mar 12, 2007 7:59am
still below the pivot 1.9307
  • #8,136
  • Mar 12, 2007 8:13am Mar 12, 2007 8:13am
I have enter [email protected], since there seems a bullish hammer will be formed after 2 hours later at 4H chart.....(Assume there is nothing surprise me within these 2 hours)....
- Ray Tracy - Novice forex trader from GMT+8
  • #8,137
  • Mar 12, 2007 8:15am Mar 12, 2007 8:15am
9666, here we go...

Contacts report the eastern European central bank which was such standout seller earlier has begun to buy back its shorts in [GBP/JPY]. The same name was also a seller and then buyer of Cable earlier suggesting that, combined with some stability on the equities front, further pressure may lift from the cross. Yield arguments suggest the Jpy will soften again, though worries of further equity jitters are likely to make the process sticky. Next bids are expected around 225.50 with the psychological 230 level likely to prove a substantial upside hurdle.
  • #8,138
  • Mar 12, 2007 9:59am Mar 12, 2007 9:59am
wow... had to leave to get back and find the market at the same place... Funny how all volatility just disappears as fast as make its presence.

NYSE looks fine despite the lousy and nervous start. This can be good news for bulls for late NY...

But as I managed to make as lousy calls today - who didn't? - I have alarms all over the charts right now.
  • #8,139
  • Mar 12, 2007 10:07am Mar 12, 2007 10:07am
Quote
I still don't believe in the downside.
Still in the denial phase?

I have no analysis to offer, beside of that I don't accept a 50% retracement from 9650 to 9180. So I don't expect a break of 9200.
  • #8,140
  • Mar 12, 2007 10:16am Mar 12, 2007 10:16am
Quoting katzenhai2
Still in the denial phase?

I have no analysis to offer, beside of that I don't accept a 50% retracement from 9650 to 9180. So I don't expect a break of 9200.
Hope anger phase not to establish here

Freaking rumors across the board caused this s***. Now NYSE is flying in blue skyes like nothing has happened and we are swimming in the drain.

I expect GJ to recover today (has recovered 100+ out of the 300pips down). But as volume will get back slowly, it's going to take a good while. I'm still holding longs at every 9X we travelled through today
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