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Cable Update (GBPUSD)

  • #8,601
  • Mar 20, 2007 12:30pm Mar 20, 2007 12:30pm
Quoting Batch
hmm, interesting, tradition or is it trend, hadn't thought of that way. Guess since most usual Traders-impacting + Econannouncement chart motion is traditional I can see the point, point too is that Trends are 1-2 month apart and are the non-traditional thing [to use your terminology! LOL :-) everything in between the non-traditional then becomes as you say......"the traditional"] (in my case....."to method catch" the Trending non-traditional)

jerry
Gonna take a week to figure out what the heck you're talking about here.

BTW, by "tradition" I mean that 93% of 100+pip days, Cable retraces to 38% fibo.80% of the time to 50% fibo. This is statistics shared by a fellow trader here named Goodthings. So that's probability only.

BTW2: where are Goodthings and MoneyMa$ter?
  • #8,602
  • Mar 20, 2007 12:51pm Mar 20, 2007 12:51pm
vsega pa tud jst ne štekam,... ...but cable is in a strong R area acording to volume, but it may drag it with the oil, which is about to get over the 60s once and for ever...and just as i type,...broker advising to go long in oil...now i dont know...
its just money
  • #8,603
  • Mar 20, 2007 12:57pm Mar 20, 2007 12:57pm
WTF????????????????

A major US FX bank was obviously waiting for [CABLE] to break above the 1.9610 trendline, having issued a chart based buy recommendation. Targets are set in the 1.9900-2.0300 range. That should aid the rally seen on the back of the firm Feb CPI data
  • #8,604
  • Mar 20, 2007 1:01pm Mar 20, 2007 1:01pm
Almost stopped out damn!
  • #8,605
  • Mar 20, 2007 1:06pm Mar 20, 2007 1:06pm
Watch for fake breakout of daily downtrend line. May move a little higher, then reverse.
  • #8,606
  • Mar 20, 2007 1:10pm Mar 20, 2007 1:10pm
Yeah, I can feel everyone jumping on board for this break higher. Then - crack - price freight trains down 100 pips. I have been caught in that one many many times...
  • #8,607
  • Mar 20, 2007 1:11pm Mar 20, 2007 1:11pm
Quoting cesarnc
WTF????????????????

A major US FX bank was obviously waiting for [CABLE] to break above the 1.9610 trendline, having issued a chart based buy recommendation. Targets are set in the 1.9900-2.0300 range. That should aid the rally seen on the back of the firm Feb CPI data
Dear,
i don't find any logice thing to fire GBP to 1.9900-20300!!!!!!!!!!!!!
why what is reason
uk very bad econimy!!!!!!!!
  • #8,608
  • Mar 20, 2007 1:16pm Mar 20, 2007 1:16pm
Quoting khaled22
Dear,
i don't find any logice thing to fire GBP to 1.9900-20300!!!!!!!!!!!!!
why what is reason
uk very bad econimy!!!!!!!!
I don't either. But this is the news. I'm to the upside big time yet. Scalping the way down and loading heavy to the way up. But I am (was?) expecting to buy at mid-95s instead of mid-96s. i don't like to get in without having a clear S&R to put stops behind of.

Let's see... Currently I'm short from 9610 small lot (yeah, fell for that one, too) and sell limit at 9630 just-in-case scenario. Stops 9670, TP = ASAP
  • #8,609
  • Mar 20, 2007 1:17pm Mar 20, 2007 1:17pm
Sometimes price is impervious to the actual state of an economy. I am still short and hope a retracement is forthcoming.
  • #8,610
  • Mar 20, 2007 1:21pm Mar 20, 2007 1:21pm
Lots of longs at this price area and just above.
Attached Image
  • #8,611
  • Mar 20, 2007 1:22pm Mar 20, 2007 1:22pm
Quoting IN-N-OUT
Lots of longs at this price area and just above.
Who the hell is long at 9913?

The guy is dead or what does he know?!??
  • #8,612
  • Mar 20, 2007 1:25pm Mar 20, 2007 1:25pm
That guy with the palpitating heart in a cold sweat who hasnt slept in weeks - thats who is long at 9913. Could you imagine? Oh yeah, all time historical high and I am going long! Now that's a rebel!!!
  • #8,613
  • Mar 20, 2007 1:29pm Mar 20, 2007 1:29pm
i forget...got dam it,..i thought we gona see the 2.02...still am, so im holding it...: ...no seriously moving my stops to 59x and call it a day,...oil just fell like a rock...
its just money
  • #8,614
  • Mar 20, 2007 1:29pm Mar 20, 2007 1:29pm
Quoting IN-N-OUT
That guy with the palpitating heart in a cold sweat who hasnt slept in weeks - thats who is long at 9913. Could you imagine? Oh yeah, all time historical high and I am going long! Now that's a rebel!!!
  • #8,615
  • Mar 20, 2007 1:34pm Mar 20, 2007 1:34pm
I think CABLE is over buy.............
Attached Image
  • #8,616
  • Mar 20, 2007 1:37pm Mar 20, 2007 1:37pm
C'mon, you can get one more indicator on that chart...
  • #8,617
  • Mar 20, 2007 1:37pm Mar 20, 2007 1:37pm
back from picking up kids from school and I see I almost got stopped out, I have a 19626 stop on my short from 9605.

Added another short at 9615, will probably TP between 9580-60 area.
  • #8,618
  • Mar 20, 2007 1:38pm Mar 20, 2007 1:38pm
I agree it is overbought, and we will probably see a nice little rally upwards at the close of the New York session and then hopefully that much needed retracement.
  • #8,619
  • Mar 20, 2007 1:46pm Mar 20, 2007 1:46pm
Quoting leelee75k
back from picking up kids from school and I see I almost got stopped out, I have a 19626 stop on my short from 9605.

Added another short at 9615, will probably TP between 9580-60 area.
Current 4hr candle becoming a pin bar (closing 20:00GMT below 9606) and we may have Mr 9555 back in town. That's where I'll start building up my longs.
  • #8,620
  • Mar 20, 2007 1:55pm Mar 20, 2007 1:55pm
I'll join you there. Now I have to figure out how to unwind that 9913 long ; )
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