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Cable Update (GBPUSD)

  • #9,521
  • Mar 30, 2007 8:24am Mar 30, 2007 8:24am
Doesnt seen like it wants to move untill US news at 945 and 10am est bUt yes I am shrorting today for a bit just scalping for the moment till news
Just me not a recomendation
  • #9,522
  • Mar 30, 2007 8:24am Mar 30, 2007 8:24am
Quoting jeffmelvin
has the majority of people here gone short on gbd/usd because of this recent data? or was it not enough to send the pair down? thanks.
Jeff
bottom picking at strong supports favoured... Day of speculation, not trending

All pairs hit their huge resistances and support area and failed... 9550, 3300 and 118.35
  • #9,523
  • Mar 30, 2007 8:37am Mar 30, 2007 8:37am
I am waiting for the rest of data before I go in.
  • #9,524
  • Mar 30, 2007 9:08am Mar 30, 2007 9:08am
Chicago PMI came out at 61.7, vs expected 49.5 - thats a good ammount better and should be positive for the dollar....but so far cableŽs only down about 15 from pre news levels and the Euros hardly moved.

Its making me think that the big boys are happy to close out the month / quarter in the 9600 - 550 area and the euro not far from 3300...weŽll see.
Trading Levels with WRBs
  • #9,525
  • Mar 30, 2007 9:09am Mar 30, 2007 9:09am
long at 9565.
  • #9,526
  • Mar 30, 2007 9:20am Mar 30, 2007 9:20am
Quoting Islander
Its making me think that the big boys are happy to close out the month / quarter in the 9600 - 550 area and the euro not far from 3300...weŽll see.

Give it a little bit more time, at least until London fix to see the close for the month/quater. In my view there is still some downside but overall it's a bull market for both euro and pound.
  • #9,527
  • Mar 30, 2007 9:23am Mar 30, 2007 9:23am
Quoting pwegner
long at 9565.
tp at 9595 , correct?
I`m a newbie to Forex, so tell me if i`m wrong.
  • #9,528
  • Mar 30, 2007 9:28am Mar 30, 2007 9:28am
We still have Bernankes talk at noon, probably why market stalled. Most probably he will be hawkish especially with the data we go today. Im short and waiting to tp anytime now or probably wait for the talk.
  • #9,529
  • Mar 30, 2007 9:29am Mar 30, 2007 9:29am
Quoting pwegner
long at 9565.
Nice entry... On Europe taking profit to go home you'll make a killing.
  • #9,530
  • Mar 30, 2007 9:40am Mar 30, 2007 9:40am
There are rumors that there is big interest in heavy Eur/jpy selling for 1100 fix.
  • #9,531
  • Mar 30, 2007 9:42am Mar 30, 2007 9:42am
Quoting pwegner
There are rumors that there is big interest in heavy Eur/jpy selling for 1100 fix.
Cmon, pwegner.. You just made yourlself these smooooth.. 30 pips...

Go grab a beer

Just kidding.. watch on overtrading... Go home with heavy pockets
  • #9,532
  • Mar 30, 2007 9:43am Mar 30, 2007 9:43am
I closed at 9595
  • #9,533
  • Mar 30, 2007 9:51am Mar 30, 2007 9:51am
long @ 9685 with TP 9630(which is 78.6 fibo of todays downward movement frm 9654 to 9546) & no SL
  • #9,534
  • Mar 30, 2007 9:55am Mar 30, 2007 9:55am
Let's see whether subwave 5 up has finally started.. been waiting until rusty here. Still keeping the small long.
Tra-X
  • #9,535
  • Mar 30, 2007 9:56am Mar 30, 2007 9:56am
Quoting forexnovice
long @ 9685 with TP 9630(which is 78.6 fibo of todays downward movement frm 9654 to 9546) & no SL
Take care in 5:

Just got this:

Quote
We are approaching the 11 am fix that the entire market is talking about. Will it live up to expectaions of increased volatility or will it be a dud? We will have to wait.
  • #9,536
  • Mar 30, 2007 10:01am Mar 30, 2007 10:01am
Quote
We are approaching the 11 am fix that the entire market is talking about. Will it live up to expectaions of increased volatility or will it be a dud? We will have to wait.


whatta fix... traded the range of the news back...
  • #9,537
  • Mar 30, 2007 10:02am Mar 30, 2007 10:02am
Quoting cesarnc
Take care in 5:

Just got this:
Thanks! I closed @ 9615
  • #9,538
  • Mar 30, 2007 10:03am Mar 30, 2007 10:03am
Quoting forexnovice
Thanks! I closed @ 9615


The day we didn't have for days...
  • #9,539
  • Mar 30, 2007 10:10am Mar 30, 2007 10:10am
Quoting forexnovice
long @ 9685 with TP 9630(which is 78.6 fibo of todays downward movement frm 9654 to 9546) & no SL

Good call I chickened out to soon which is the story of my life. I at least made some profit this week.
  • #9,540
  • Mar 30, 2007 10:19am Mar 30, 2007 10:19am
Bingo, subwave 5 in force! I think. Closed half long at 1.9661. S/l moved to 1.9598. Too bad my last USD/JPY long got bomb-ed tho.
Tra-X
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