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Cable Update (GBPUSD)

  • #127,701
  • Mar 23, 2009 10:46am Mar 23, 2009 10:46am
Quoting xbilisx
may i know..where do u thing a little..because i'm doin wrong..so i want to put my minimun loss thank you...
Ok heres my 2 cents, I have a sell limit order at 1.4515, SL 1.4555, First TP 1.4405. Time for me to hit the hay for now

Happy Trading
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #127,702
  • Mar 23, 2009 10:55am Mar 23, 2009 10:55am
take short at 4550...tp 150pips

hi3
  • #127,703
  • Edited 11:23am Mar 23, 2009 11:09am | Edited 11:23am
Hey guys...

84.00/84.10 is a key level in the dollar index. Currently closed above and retesting the H1, 55EMA

Any one in a short could take some profit at 4435, daily M4 pivot. This move down started at M2 and we usually see M2e to M4 and vice versa when price begins at either level.
  • #127,704
  • Mar 23, 2009 11:13am Mar 23, 2009 11:13am
Quoting Bull_Bear
Ok heres my 2 cents, I have a sell limit order at 1.4515, SL 1.4555, First TP 1.4405. Time for me to hit the hay for now

Happy Trading
Good Luck
  • #127,705
  • Mar 23, 2009 11:15am Mar 23, 2009 11:15am
Quoting Bull_Bear
Sorry, Xbilisx i'm sitting out for now cos i feel that intraday moves have done the best moves already.
Exacly!

London closed, 200 pips daily range... next worth move wont be into that sesion from me.

Done my daily TP.
Out for the day...
  • #127,706
  • Mar 23, 2009 11:15am Mar 23, 2009 11:15am
Something to be aware of, look how the daily candle is shaping up. I know its a very long time until my candle closes, 8hrs! But if price doesnt get a shift on and stays below 4500 then this paints a very bearish picture for GU tomorrow!
Attached Image (click to enlarge)
Click to Enlarge Name: daily.gif Size: 40 KB
  • #127,707
  • Mar 23, 2009 11:16am Mar 23, 2009 11:16am
The 4600/50 zone has now been tested about 6 times, the last being higher than the double top. The level seems to be weakening.

If looking to take a long again, 4340 or 4240/60, whichever holds, and as low as 4140/50 with an upside target of 4850, shy of a prior double top.

What you think?
  • #127,708
  • Mar 23, 2009 11:17am Mar 23, 2009 11:17am
Have re-entered into soft hedge play, single lot plays, Long GU/GJ, Short EU/EJ...

Looks to be a turn on the EG back to shortside, will work on continuation of last nights play....

2 days away from True possible confirmation for short side EG, will see how this plays out.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #127,709
  • Mar 23, 2009 11:21am Mar 23, 2009 11:21am
Quoting PipLand
Something to be aware of, look how the daily candle is shaping up. I know its a very long time until my candle closes, 8hrs! But if price doesnt get a shift on and stays below 4500 then this paints a very bearish picture for GU tomorrow!
I was just looking at this too. Currently sitting on a 38.2 and hourly 55 ema.
  • #127,710
  • Mar 23, 2009 11:21am Mar 23, 2009 11:21am
Quoting PipLand
Something to be aware of, look how the daily candle is shaping up. I know its a very long time until my candle closes, 8hrs! But if price doesnt get a shift on and stays below 4500 then this paints a very bearish picture for GU tomorrow!
I agree. Still an outbar also but bearish look is stronger for now...

Geithner is the answer...
  • #127,711
  • Mar 23, 2009 11:26am Mar 23, 2009 11:26am
Quoting Inzider
I agree. Still an outbar also but bearish look is stronger for now...

Geithner is the answer...
What i found odd was the rally in the DOW yet G/U fell. We have been seeing the opposite. Maybe some selling in the stock market will fuel more down side to a better long entry?
  • #127,712
  • Mar 23, 2009 11:29am Mar 23, 2009 11:29am
Quoting PipLand
Something to be aware of, look how the daily candle is shaping up. I know its a very long time until my candle closes, 8hrs! But if price doesnt get a shift on and stays below 4500 then this paints a very bearish picture for GU tomorrow!
Just apply a bollinger bands in your daily chart & then tell me what U see...!?
  • #127,713
  • Mar 23, 2009 11:32am Mar 23, 2009 11:32am
Hi Magix
I also lost EU/JPY short last night. Recovering bit from GBP/JPY scalping to long side....... If I may ask do you see any set up in EU/JPY to short?

4H candle just closed have a big wick I wanted to buy EU/JPY on a dip .....
Want to see your set up ..........I may give long in that case
Thank you

Quoting Magix
Have re-entered into soft hedge play, single lot plays, Long GU/GJ, Short EU/EJ...

Looks to be a turn on the EG back to shortside, will work on continuation of last nights play....

2 days away from True possible confirmation for short side EG, will see how this plays out.
BANDA333
  • #127,714
  • Mar 23, 2009 11:39am Mar 23, 2009 11:39am
ok got my long scalp and switching trade to short

just a tickler for now on cable and euro, but ready to add to if it starts to crumble

Then i am off to buy a leaf blower with the profit...the snow is very light and powdery here in the cascades, so i can blow leaves and snow..
Can't beat a 50cc gasoline powered blow job
  • #127,715
  • Mar 23, 2009 11:47am Mar 23, 2009 11:47am
Quoting BANDA
Hi Magix
I also lost EU/JPY short last night. Recovering bit from GBP/JPY scalping to long side....... If I may ask do you see any set up in EU/JPY to short?

4H candle just closed have a big wick I wanted to buy EU/JPY on a dip .....
Want to see your set up ..........I may give long in that case
Thank you

I am not so much playing the single charts on this soft hedge Banda...I am using the EG chart as my strength/weakness indicator, as support on what I see for the mid range plays on the 4 other pairs.

I am now assuming with a double tap @ top for EG it will continue into bearish cycle, so really don't care if GU goes up, or EJ comes down...just that EG drops like a stone and will take the scores on that.

As we are in mid cycles on all, EG imo looks to be toppy and time for it to have the bear run for a while, this is what I base my plays on. I do have targeted ranges on the individual charts, but with the soft hedge, it is a longer term play and played currently on an unconfirmed EG short chart. I will add as I see confirmation and will dump all 4 if I see an EG reversal...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #127,716
  • Mar 23, 2009 11:50am Mar 23, 2009 11:50am
Sounds like were all in agreement that tomorrow will see this thing head further south. Just when GU was starting to show some signs of recovery eh.

The dow looks like its running out of steam as well, tomorrow should be interesting!

I think im done for the day its looking quiet out there now
  • #127,717
  • Mar 23, 2009 11:55am Mar 23, 2009 11:55am
Thankx buddy. For me also most important EU/GBP to decide last night I was wrong big.......... I like EU/JPY the best pair lately it act crazy lol ....... also in GBP/JPY ..........today I am afraid to go long on GBP/$ after the news better to be with pair with stronger componant and the weakest part of the day..........IMHO yen is weak today so I am long on GBP/JPY ..........
tHANKX

Quoting Magix
I am not so much playing the single charts on this soft hedge Banda...I am using the EG chart as my strength/weakness indicator, as support on what I see for the mid range plays on the 4 other pairs.

I am now assuming with a double tap @ top for EG it will continue into bearish cycle, so really don't care if GU goes up, or EJ comes down...just that EG drops like a stone and will take the scores on that.

As we are in mid cycles on all, EG imo looks to be toppy and time for it to have the bear run for a while, this is what I base my plays on....
BANDA333
  • #127,718
  • Mar 23, 2009 12:01pm Mar 23, 2009 12:01pm
Quoting PipLand
Sounds like were all in agreement that tomorrow will see this thing head further south. Just when GU was starting to show some signs of recovery eh.

The dow looks like its running out of steam as well, tomorrow should be interesting!

I think im done for the day its looking quiet out there now
just bought the ETF 'DOG' which is a short of the DOW

I should have waited for 3 days gains really but its worth a 24 hour dabble i reckon

I can't find a logic story which explains DOW/cable correlation right now... i think everyone is at sea which means that betting opposite to what has just happened is usually a good ploy

Obama has charmed everyone again but they will snap out of it in 24 hours or so

Now that one senator wants the AIG people to commit suicide, another senator is inciting the mob to find out where they live and 'beset' their houses - big crime in the UK but just another business tool (leverage), in the US. The wild west is still pretty wild.

The senator also wants to fire them if they dont give their contracted bonuses back. That would be wrongful dismissal in Europe and bring even bigger compensation.

It's all very interesting
  • #127,719
  • Mar 23, 2009 12:11pm Mar 23, 2009 12:11pm
Quoting jack.canadia
What i found odd was the rally in the DOW yet G/U fell. We have been seeing the opposite. Maybe some selling in the stock market will fuel more down side to a better long entry?
Your right that whit that kind of a move Gu should have follow more then that!

What i know about corolation is that they work then don't.
EU, DOW, usd index, all orther uncorolated and corolated pairs...

Need to be carefull whit all those, i use it as a hint, but never a trade trigger alone.
_________

Let's see if asian session high will be taken. 1.4540
I exepect further down move for next asian and London, we'll see....
  • #127,720
  • Mar 23, 2009 12:14pm Mar 23, 2009 12:14pm
Quoting allserene
just bought the ETF...
At least something gets done over there. The goverment is too scared to do anythign here they get walked over left right and centre!

I was thinking about shorting the DOW too as I typed it but it jumps around so much i never know where to put my SL. FTSE is easier in my opinion i took a short on the ftse earlier today but got stopped at break even, then it turned around and dived, just my luck lol!

Check out the dollar its being dumped at the moment, anyone know why? did i miss something? dow also rising, what news did i miss?
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