Daily Cable Analysis

Finally can take first profit and tighten s/l, phew. Already safe now.

Nice trade...I sold at 9630, but got out before the BOE news....7/2 would have been +ve and 8/1 was a surprise.

Will cable now be able to get above todays high of 9652 and make the extra 19 pips to its 100% retrace of the last big fall at 9671?

It seems to be running out of buyers up here, no support from euro or swissy and gbpjpy hasnt even made it to its 61.8% retrace (231.60)

Guess we´ll have to wait for the US traders and the FOMC to decide the next main move - but I´m thinking sell if it fails to take out this morning high.

Good trade there, Islander. Looking at current movement, it's still very possible for cable to make new today's high. I've stopped counting waves in small tf now and look for further move first. Falling below 1.9550 will make a serious blow on the bullish sentiment.

Yes it took a lot of nerves. What I did was at 1.9620 I put the trade on hold and went to sleep by entering a long against the open short. At 1.9650 this morning I woke up and closed the long and took that 30 pips profit and had only the short still on. At 10h30, it was a gamble and the gamble was lucky. Closed the short then ( pivot ) at 1.9560

USD Index broke the high of the day now and my 4hr and 1hr indicators show still space to go down for GBP/USD

Won't do any short trade now. Will only buy when it makes a small bottom. I am watching for the 1hr stoch to turn up from 20% with the 15Min doing also the up move as a confirmation

USD Index rejected so far at 83.26
Eur/USD setting up to go long
Would GBP/USD follow ?

Interest rate , change :

5.00 , wow

5.25 , i choose this one

5.50 , oh my god !

I'll go with 5.25 as well for now but 5.50 by the year end

So,... say is 5.25
and usd index stay high,
and oil price is down,
ans gold is down / soon /...........

So where are we going to ?

20 minutes to go........
Bang........... and the cowboy down.

Remaining shorts got blasted at b/e. Good work there, cable.

Ouch...

Looks like the cowboy holding gun 9.0 mm and ready to "shoot" back.

typo again

Now i play and watch movie "The Omen". for 90 minutes. Boring.

the movie error , only 82 minutes........ . enough.tired......
i want play skateboard........now......

Not much happend today, so this is for whole week.
so 9900 is a posible next ? and goodbye 9200.

Has uptrend finally finished? It's likely, but from the count it's not sure yet, need to see further move downwards first. Just my opinion.

If you followed the trading recommendation from yesterday, you would now be short out of the 9683 area and looking for a move back to the River Level which comes in today at 9517.
I would like to remind everyone that the longer term trend is up on this pair and this is a high rsik countertrend trade so plan your risk accordingly. It is imperative that you reveiw the updated price distribution chart for a broader view as we near the end of March.
So what now?
The key to this trade is to manage your short properly. The move down that I anticipated did develop today. You should have accumulated profit out of the 9683 level. I would recommend viewing the short profit you have accumulated as ammunition that may need to be used. If we do trade down to the 9594 level there is a good chance that this demand level may provide a continuation for the move higher. Your advantage is that you can watch the battle from above and make a calm decision on how to proceed with little or no casualties if the battle turns against you.
If we do move through the 9594 Transition level, then we look for 9517 where I would cover. I anticipate our next move to come from the resolution of the River level and the 9443 level.
Looking ahead..if my view is incorrect then we will look to set up longs at 9594 over the next session.
BULLISH ABOVE RIVER AT 9517
http://downrivertrader.squarespace.c...d3-23-2007.PNG

another great view

so the friday will be gone soon in few hour..........

i wonder what happend next week................

so exciting to watch