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Cable Update (GBPUSD)

  • #10,301
  • Apr 12, 2007 8:20pm Apr 12, 2007 8:20pm
Quoting Pipsta
Yea clean break would be probably even lower than 9825 but it's hard to say. Asian sess could whipsaw things a screw with people. It's happened plenty of times that way. For some reason the Asian session likes to be messier compared to the Euro and US sess. Other times they go kamikazi and all pile on for a huge quick move. You never know what you're gonna get going into the Asian sess.
Agree... But I just go for moves like this one from the bottom, never to pick top or jump in the middle of the mess...

Now I left small well positioned trades. They are kind of hedging in case of a big USD move but will loose in case of carry trades selloff...

It's not the safest position to leave, with this G7 ghost poppin in again, but whatta hell else I gotta do?
  • #10,302
  • Apr 12, 2007 8:23pm Apr 12, 2007 8:23pm
21:17Cable back up testing near the highs. We hear there are decent sized offers up here for now. we also hear of stops above 1.9820. If the pair can not get back below 1.9785/90 soon we may see the market try to run thsoe stops.
  • #10,303
  • Apr 12, 2007 8:26pm Apr 12, 2007 8:26pm
Quoting cesarnc
21:17Cable back up testing near the highs. We hear there are decent sized offers up here for now. we also hear of stops above 1.9820. If the pair can not get back below 1.9785/90 soon we may see the market try to run thsoe stops.
  • #10,304
  • Apr 12, 2007 8:32pm Apr 12, 2007 8:32pm
TP 9830 all GU out

GJ will do the rest of the job
  • #10,305
  • Apr 12, 2007 8:36pm Apr 12, 2007 8:36pm
Nice piece of humor, couldn't describe it better:

21:32 Cable runs stops through 1.9820 and disappears. It reappears near 1.9835.



I've been in front of this damn charts for 4 hours awaiting this f'n move. Patience rewards.
  • #10,306
  • Apr 12, 2007 8:40pm Apr 12, 2007 8:40pm
Quoting cesarnc
Nice piece of humor, couldn't describe it better:

21:32 Cable runs stops through 1.9820 and disappears. It reappears near 1.9835.



I've been in front of this damn charts for 4 hours awaiting this f'n move. Patience rewards.

  • #10,307
  • Apr 12, 2007 8:45pm Apr 12, 2007 8:45pm
USD INDEX licking the floor below key level 82.200

Tomorrow USD-negative PPI and we kiss MR 99 to end this huge move from 92s.

I'm all out. Tomorrow I'm a scalper.

Gotta speep... I mean, sleep...

  • #10,308
  • Apr 12, 2007 9:03pm Apr 12, 2007 9:03pm
Quoting cesarnc
Nice piece of humor, couldn't describe it better:

21:32 Cable runs stops through 1.9820 and disappears. It reappears near 1.9835.



I've been in front of this damn charts for 4 hours awaiting this f'n move. Patience rewards.
It was my fault...I accidentally made an order on the break of 10 times what I intended. I nearly margined myself out by accident before I could even get started. I was down to $30 of available margin in my account. I know my measly order did not cause the gap but I scared myself into closing the order after only 3 pips gain....sure it was a $300 3 pip gain but I didn't have the margin in my account to hold that position if it retraced back one more pip than my spread cover. Dam I'm going to add more margin to my account tomorrow morning because I don't want that to happen again. I don't keep excess margin in my account just because I don't like to but from now on I'm going to leave enough to cover more than 10 times my normal open positions. That was freeky because it hasn't happened in years.

Of course I also wished it had jumped up another 5-10 pips....$100 pips is good chit man. I'm not quite ready to fund my account enough to cover $100 pips like that $20-30 yea.. not $100. Made my heart race while trading for the first time in 2 years.
  • #10,309
  • Apr 12, 2007 9:51pm Apr 12, 2007 9:51pm
Quoting cesarnc
Nice piece of humor, couldn't describe it better:

21:32 Cable runs stops through 1.9820 and disappears. It reappears near 1.9835.



I've been in front of this damn charts for 4 hours awaiting this f'n move. Patience rewards.
Fortunately, I got out my scalping short Cable with 1pip gain before it triggers the stops above .. hueeyyy. I should have long it way before. But I looked at the Stochs was already overbought made me a bit cautious.
  • #10,310
  • Apr 13, 2007 1:15am Apr 13, 2007 1:15am
So finally cable breaks above 9811....but a strange move - the Euro made new highs 20 minutes before cable moved. Finally at 9pm cable rallied from under 9800 to hit 9835 at 9:30pm. Now its just tested support at yesterdays high of 9811.

So with the March 3 high of 9820 broken, next target is the years high - 9915 on Jan 3.

Lets see what the Frankfurt and London opens bring - hope we dont have to wait until the US data at 8:30 for some action. The EuroŽs Industrial Production is due at 5am.
Trading Levels with WRBs
  • #10,311
  • Apr 13, 2007 1:19am Apr 13, 2007 1:19am
Quoting Islander
So finally cable breaks above 9811....but a strange move - the Euro made new highs 20 minutes before cable moved. Finally at 9pm cable rallied from under 9800 to hit 9835 at 9:30pm. Now its just tested support at yesterdays high of 9811.

So with the March 3 high of 9820 broken, next target is the years high - 9915 on Jan 3.

Lets see what the Frankfurt and London opens bring - hope we dont have to wait until the US data at 8:30 for some action. The EuroŽs Industrial Production is due at 5am.
It was a strange move. Sort of like some guy jumping over a chain link fence and getting his pants caught on the barb. It has cleared it though because it just retraced off the break push and it stayed above the breakpoint.

The fiber did break it's TL before the cable. Messy Asian move isn't too strange to see.
  • #10,312
  • Apr 13, 2007 1:29am Apr 13, 2007 1:29am
Wowie, I got in a [email protected] on that retrace that stayed above the TL and within the hour or so it's just exploded long....hot dog!
  • #10,313
  • Apr 13, 2007 1:30am Apr 13, 2007 1:30am
The monster is awake and knocking on 1.99's door.
  • #10,314
  • Apr 13, 2007 1:46am Apr 13, 2007 1:46am
Quoting Pipsta
Wowie, I got in a [email protected] on that retrace that stayed above the TL and within the hour or so it's just exploded long....hot dog!
Yeh..great entry...IŽd only just got up, so was a bit slow, but did get in and have taken profit as its stalled at one of my 200 EMA bands and the EuroŽs having trouble around its earlier high.
Trading Levels with WRBs
  • #10,315
  • Apr 13, 2007 1:58am Apr 13, 2007 1:58am
wow that was nice I had my limit set at 9860. But now I am thinking there will be a move down, maybe to 9700. What do you ladies and gents think?
Fear is the mind killer.
  • #10,316
  • Apr 13, 2007 2:05am Apr 13, 2007 2:05am
Quoting Spineynorman
wow that was nice I had my limit set at 9860. But now I am thinking there will be a move down, maybe to 9700. What do you ladies and gents think?
Now its the London Open....lets see what they do....IŽm still long, as the trendŽs still up.
Trading Levels with WRBs
  • #10,317
  • Apr 13, 2007 2:05am Apr 13, 2007 2:05am
Quoting Islander
Yeh..great entry...IŽd only just got up, so was a bit slow, but did get in and have taken profit as its stalled at one of my 200 EMA bands and the EuroŽs having trouble around its earlier high.
Yea, well I messed up my break entry on the break and thought I was going to miss the bulk of the move. When it barely got over the TL and stalled the first time I stayed aware of another opportunity once the retrace off that initial punch through came down. I was really only expecting a slow drift up not another burst like that. Won't complain though.
  • #10,318
  • Apr 13, 2007 2:13am Apr 13, 2007 2:13am
Taking profit one step at a time.Level by level.I'm on fire baby, yeah!http://www.forexfactory.com/images/icons/icon10.gif
Start trading everyday with a simple mind, and everything seems very clear!
  • #10,319
  • Apr 13, 2007 2:21am Apr 13, 2007 2:21am
Apart from the GMT Wednesday pm session this week has been a continuous higher highs market (4hr chart). I think that even the brokers are long here (with their own money).

The question is... Will UK government and possibly other Euro interested parties intervene to counter the negative trade aspects of an even weaker $ or will we finally see 2.00 and beyond?

To infinity.......................................
  • #10,320
  • Apr 13, 2007 2:23am Apr 13, 2007 2:23am
Quoting Spineynorman
wow that was nice I had my limit set at 9860. But now I am thinking there will be a move down, maybe to 9700. What do you ladies and gents think?
i am shorting too, 1.986, first target: 1.9810
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