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Cable Update (GBPUSD)

  • #10,101
  • Apr 10, 2007 2:37am Apr 10, 2007 2:37am
ya I am thinking 1.9800. what you ladies and gents think?
Fear is the mind killer.
  • #10,102
  • Apr 10, 2007 2:44am Apr 10, 2007 2:44am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
In my opinion 1,9770.But thats just my view. I am a little afraid of
Mr. Fibonacci But I met my entry rules so......

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Plan your trade and trade your plan
  • #10,103
  • Apr 10, 2007 3:03am Apr 10, 2007 3:03am
The 5 min chart has turned down...a lower high - 9707 vs 9711 with a lower momentum high. Now to see if the minor low of 9667 from 11:45 pm yesterday holds - if it does IŽll consider a small buy, hoping to break above last Tuesdays high of 9721 and then add another position. But IŽll be ready to exit quickly if it stalls.
Trading Levels with WRBs
  • #10,104
  • Apr 10, 2007 3:08am Apr 10, 2007 3:08am
Sell (short) would have bieen better

Quoting Islander
The 5 min chart has turned down...a lower high - 9707 vs 9711 with a lower momentum high. Now to see if the minor low of 9667 from 11:45 pm yesterday holds - if it does IŽll consider a small buy, hoping to break above last Tuesdays high of 9721 and then add another position. But IŽll be ready to exit quickly if it stalls.
  • #10,105
  • Apr 10, 2007 3:15am Apr 10, 2007 3:15am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
Acording to trend I would also prefer short trades.But I enterd long couse brakeout was confirmed and as I see the move up is so strong.I dont consider it longterm trade....just 20-30 pips then I am out.... If I get them??

-------------------------
Plan your trade and trade your plan
  • #10,106
  • Apr 10, 2007 3:33am Apr 10, 2007 3:33am
Quoting tradeigel
Sell (short) would have bieen better
agreed...IŽve already had a scalp short signal from the 3:02 candle at 9704....that was good for more than 20 pips, but the trend on 15 min and hourly is still up.....but IMO loosing momentum and unless the Europeans start buying soon I can see it falling back.
Trading Levels with WRBs
  • #10,107
  • Apr 10, 2007 3:39am Apr 10, 2007 3:39am
Quoting dado26
Yup..thats the channel.
In my chart I use 200SMA and now it acts as a resistance and we also have pivot daily around 1,9700... But still...if brakeout is confirmed I will go long....

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plan your trade and trade your plan
1.9700 pivot? My indicator and broker say todays daily pivot is 1.9626.

I think you've got the wrong day.

GU is currently between R2 and R3 (1.9690 & 1.9724).
  • #10,108
  • Apr 10, 2007 3:54am Apr 10, 2007 3:54am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
1.97281.97831.98391.97281.9672

Those are pivot levels for today by my info.Sorry for that 1,9700 pivot....It is not pivot it is just some psyhological traders line....
Round numbers 00,25,50,75...I am carefull when I trade around them

My mistake,sorry!
  • #10,109
  • Apr 10, 2007 4:15am Apr 10, 2007 4:15am
TP 75 pips GU.

Bottom picking demands patience, but rewards...
  • #10,110
  • Apr 10, 2007 6:07am Apr 10, 2007 6:07am
Quoting Tiki Trader
GBP is heading towards 1.9550 or lower
Quote
You are jumping the gun !!!

Let us see by Wednsday !!! Maybe even Thursday

We are talking daily charts here...

Short since 1.9760
Quote
Topping out Here maybe ?? Right close to 1.9700
Quote
As a forex trader you know you are not allowed to sleep !!!

Oh well, time for retrace I hope.... and then down some more after that even.
Price at the time of the post: 9725

You know I would never miss that chance. As I know you would come with a nice "told you so" dance of it was otherwise...

How hard is just trade inline with the trend?
  • #10,111
  • Apr 10, 2007 6:15am Apr 10, 2007 6:15am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
I just exited plus 32 pips. 2 emotions on the market : fear and greed.I think I experienced 1.one

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Plan your trade and trade your plan
  • #10,112
  • Apr 10, 2007 6:20am Apr 10, 2007 6:20am
the cable would touch 9800 again?
  • #10,113
  • Apr 10, 2007 6:33am Apr 10, 2007 6:33am
Quoting cesarnc
Price at the time of the post: 9725

You know I would never miss that chance. As I know you would come with a nice "told you so" dance of it was otherwise...

How hard is just trade inline with the trend?
Short 1.9742.
Tra-X
  • #10,114
  • Apr 10, 2007 6:44am Apr 10, 2007 6:44am
Hi guys, my first post here at FF but have been a silent admirer of many of u there. have been reading into a few threads here with a view to see what the common market perception is. Also to check out some pieces of valuable inputs coz at times,it is quite useful when i see and say to myself, how the heck i was going to take that trade without this fibo into account. The fibo that someone here may have been looking into.
Currently on 1 hr time frame i have gone short on pound at 9725 with the following things passing through my mind
1. A support trendline joining the lows made on 14 march and 30 March comes in today at about 9735.
2. a strong congestion Zone between 9720-9770 on many previous occasions.
3. 61.8 retracement of 98 plus to 9590 at 9735.
4.CCI divergence on 1 hr chat
5.RSI on i hr chart at oversold region
6.A 5 wave upcount from 9590 on 1 hr chart is quite visible
7.No data today and already a daily range of 120 pips covered

All the above factors going into the decision to sell

Concerns for me.

1.All momentam oscillators on 4 hours charts are positive
2.Carry are quite strong today with GY above 235
3. Market simply want to take all that i earned this month :surprised

So i have a short at 9725 and would short another lot at 9770 with stop above 9800 plus and target near 9700 euther today or tomorrow.

Comments?
  • #10,115
  • Apr 10, 2007 6:55am Apr 10, 2007 6:55am
Quoting cesarnc
Price at the time of the post: 9725

You know I would never miss that chance. As I know you would come with a nice "told you so" dance of it was otherwise...

How hard is just trade inline with the trend?

Yes, somebody owes us dinnner I believe, but if you look at my post I said barring strong news, and apparently this is what happened with the US-China probs. As a result I also made money by catching the reverse wave. I hope the others did the same.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #10,116
  • Apr 10, 2007 7:12am Apr 10, 2007 7:12am
lets just see 9800s today and have it come down same way it went up...will be nice......
  • #10,117
  • Apr 10, 2007 7:34am Apr 10, 2007 7:34am
Do 9800's look probable or is this sudden uptrend going to come back down to Earth?
  • #10,118
  • Apr 10, 2007 7:43am Apr 10, 2007 7:43am
I think we will see 768/80 area............................My Opion

Wave 1 complete

Wave 2 Complete

Wave 3 complete ( Elongated & Elongated)

Wave 4 In Process.................

Wave 4A Complete

Wave 4B in process.............target 760/80 ..............

Wave 4C will be next...................target 515/500


...........................I m not allways wrong in unfolding the waves in this uncertianity market condiation


SHIVAJI
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"Trade for sake of trading & not for winning or Lossing"
  • #10,119
  • Apr 10, 2007 7:44am Apr 10, 2007 7:44am
so when do we actually short this monster? 1.9770 or 1.9800ish?
  • #10,120
  • Apr 10, 2007 7:50am Apr 10, 2007 7:50am
I would try it at the double(triple) top, ~9770.

Quoting jbgee
so when do we actually short this monster? 1.9770 or 1.9800ish?
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