this bad boy is about to rocka rolla, trades are doing aok 
"Millionaires don't use astrology, billionaires do"
- #581
- Mar 23, 2009 1:58pm Mar 23, 2009 1:58pm
- Joined Apr 2007 | Status: "As Above So Below" | 6,206 Posts
- #582
- Mar 23, 2009 4:20pm Mar 23, 2009 4:20pm
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Good morning guys, hope everyone's making. Time for me to get me some 
long@4571 sl@4300 tp@4935
The breakout had me convinced to take position on this trade, with previous resistance level as take profit area. A close below tl14 and I will pull the plug on this trade. Welp, back to bed, head's still killing me, good nite & good luck
long@4571 sl@4300 tp@4935
The breakout had me convinced to take position on this trade, with previous resistance level as take profit area. A close below tl14 and I will pull the plug on this trade. Welp, back to bed, head's still killing me, good nite & good luck
Thank You
- #585
- Mar 24, 2009 1:24am Mar 24, 2009 1:24am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Stops currently amended.
1. [email protected] [email protected]
2. [email protected] [email protected]
3. PO [email protected] [email protected]
141.7 level now is currently tested. Let's see if it holds. Good luck
1. [email protected] [email protected]
2. [email protected] [email protected]
3. [email protected] sl@ 141.2
Good luck everyone
Thank You
- #586
- Mar 24, 2009 1:48am Mar 24, 2009 1:48am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Good morning guys, hope everyone's making. Time for me to get me some
long@4571 sl@4300 tp@4935
The breakout had me convinced to take position on this trade, with previous resistance level as take profit area. A close below tl14 and I will pull the plug on this trade. Welp, back to bed, head's still killing me, good nite & good luck
long@4571 sl@4400 tp@4935
Will be interesting to see how the daily ends. At the moment everything points north. Good luck
Thank You
- #587
- Mar 24, 2009 4:09am Mar 24, 2009 4:09am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Dragon had succesfully breached the old tl dating back from the 23rd of Jan. A bearish formation however seems to be in the works. Depending on how the next 4hr finishes, new entry at this point is not advisable. Will be watching this like a hawk. Good luck
Thank You
- #589
- Edited 5:20am Mar 24, 2009 5:08am | Edited 5:20am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Took a small position on this pair. Am bored 
[email protected] [email protected] [email protected] [0.1 lotsize]
[email protected] [email protected] [email protected] [0.1 lotsize]
Thank You
- #590
- Mar 24, 2009 5:31am Mar 24, 2009 5:31am
- Joined Jun 2008 | Status: Trader | 1,739 Posts
Hello Azim,
How's it going??? I've just had a read of the Cable forum and see that the lunatics have really taken over the asylum
I haven't been focusing that much on forex in recent weeks, but am coming back to the trenches this week.
Anyway, back to business, attached is BNP's latest view on Cable...
1019 GMT [Dow Jones] GBP/USD has well and truly broken above 1.4660 pivotal resistance and a rise above the February high of 1.4985 is now favored, says BNP Paribas. Further gains above the January high of 1.5375 are achievable, says the bank, with the next major objective above here at 1.6315. Now at 1.4720. (GST)
How's it going??? I've just had a read of the Cable forum and see that the lunatics have really taken over the asylum
I haven't been focusing that much on forex in recent weeks, but am coming back to the trenches this week.
Anyway, back to business, attached is BNP's latest view on Cable...
1019 GMT [Dow Jones] GBP/USD has well and truly broken above 1.4660 pivotal resistance and a rise above the February high of 1.4985 is now favored, says BNP Paribas. Further gains above the January high of 1.5375 are achievable, says the bank, with the next major objective above here at 1.6315. Now at 1.4720. (GST)
- #591
- Mar 24, 2009 5:38am Mar 24, 2009 5:38am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Hey Paul 
It's been great, I'm overachieving this month so to speak, but I'm not going to complain
How are you my friend? I sure hope you're making lots.
Cable thread? lol. I'm done with that thread, no point sticking around. It's now getting really silly. Don't need that. I'll just hide in the hole lol.
Anyway, any fundies insights as to why the sterling now is gaining strength?
Cheers
p/s : I'm not short sterling anymore
It's been great, I'm overachieving this month so to speak, but I'm not going to complain
How are you my friend? I sure hope you're making lots.
Cable thread? lol. I'm done with that thread, no point sticking around. It's now getting really silly. Don't need that. I'll just hide in the hole lol.
Anyway, any fundies insights as to why the sterling now is gaining strength?
Cheers
p/s : I'm not short sterling anymore
Thank You
- #592
- Mar 24, 2009 6:32am Mar 24, 2009 6:32am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
No not luck Azim ,not at all.As I say i like your planed approach ,really it is a skill ive yet to hone,actually picking up a few tips from the usual posters here.
BTW I never waited for the retrace
BTW I never waited for the retrace
Thanks tony
A lot of luck really. Didn't expect it to climb this much for a day, but then again, should never discount such move when it comes to this crazy pair lol.
Gonna take half of my position off the table methinks. Too much too soon, somewhat got me spooked. Anyway, I think you're gonna get to catch the next ride tho, after this pullback. Good luck mate
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #593
- Edited 8:23am Mar 24, 2009 7:02am | Edited 8:23am
- Joined Jun 2008 | Status: Trader | 1,739 Posts
Hey Paul
It's been great, I'm overachieving this month so to speak, but I'm not going to complain
How are you my friend? I sure hope you're making lots.
Cable thread? lol. I'm done with that thread, no point sticking around. It's now getting really silly. Don't need that. I'll just hide in the hole lol.
Anyway, any fundies insights as to why the sterling now is gaining strength?
Cheers
p/s : I'm not short sterling anymore
On a technical level, I see the break above the daily 100sma as positive for the bulls (a daily close today above this level will be a reassuring sign for longs), in addition to the upside break last week of key trendline on 4H.
The main fundamental factor was obviously the market's nervous reaction to Bernanke officially announcing the start of QE measures. Understandably, this led to sell-off in the greenback, while at the same time was supportive of equities and risk appetite, leading also to the JPY being heavily sold.
This morning the BOE Governor, Mervyn King, made some sterling supportive comments in his testimony to a UK Parliament Select Committee hearing, saying sterling's fall wasn't an engineered policy and he sees "no reason why it should go any lower". These comments were made shortly after the release of February's inflation data, which came in above market expectations and provided a small boost for sterling.
Also, the announcement of Geithner's plan for removing the toxic assets from banks' balance sheets will be seen as sterling positive, given the UK's strong reliance on financial services for GDP growth and the extremely high levels of leverage on, and associated solvency fears surrounding, the balance sheets of UK banks. Indeed, from a fundamental perspective, the troubles in the banking sector have been one of the biggest factors dragging down Cable in the past year.
- #595
- Mar 24, 2009 7:33am Mar 24, 2009 7:33am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
No not luck Azim ,not at all.As I say i like your planed approach ,really it is a skill ive yet to hone,actually picking up a few tips from the usual posters here.
BTW I never waited for the retrace
You didn't wait for the pullback ... so that means you took the trade? It'll be about 400 points if you did take it from yesterday.
Thank You
- #596
- Mar 24, 2009 7:38am Mar 24, 2009 7:38am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Great to hear that you continue to make good profits, Azim. I've had an awesome run in the past couple of weeks, from focusing on equity trading, seeing as ..
Thanks for the explanation paul, at least when I look at my charts now, I can relate the movements. Btw, your 100sma don't happen to be around 49xx level does it?
Cheers mate
Thank You
- #597
- Mar 24, 2009 7:45am Mar 24, 2009 7:45am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Good to see you're making the pips, WB.
I've rated the thread 5 stars, because I think a lot of people can learn a thing or two about how to make trades, hopefully, something will rub off on me, and others who come to take a peak over here.
I had a suggestion for your trade posts, is there any chance you could initial them with the pair you are trading too? So instead of long @ 1.2345 you would write GJ long @ 1.2345. It would just make it easier to follow at a glance.
Anyways, keep up the good work!
Thanks for the rating too, but please don't stop there, your views & insights will be appreciated mate. This thread does not belong to me, just had it up for everyone to discuss. Fire away my friend.
Okay, the trade calls that I made usually I have the pair name up in the title box. Prolly it got confusing bcoz I called it "dragon trade" instead of the pair initials. I'll take your suggestion and put the initial up beside the call as well mate, no biggie
Cheers & good luck with your trade!
Thank You
- #598
- Mar 24, 2009 7:46am Mar 24, 2009 7:46am
- Joined Jun 2008 | Status: Trader | 1,739 Posts
Likewise brother, I'm glad to hear you're raking them in as well
Thanks for the explanation paul, at least when I look at my charts now, I can relate the movements. Btw, your 100sma don't happen to be around 49xx level does it?
Cheers mate
- #600
- Mar 24, 2009 8:06am Mar 24, 2009 8:06am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Thank You