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Cable Update (GBPUSD)

  • #10,721
  • Apr 18, 2007 8:36am Apr 18, 2007 8:36am
Quoting smikester
What a brilliant welcome. Thanks again. But did you notice by how much my buy limit order missed? I'm scaring myself - Soon I will be taking orders for Forex forecasts...
Yup. You gonna leave it in place? I'll exit 1 lot for 40 at 75 if we get back up there soon. Opened at 35 currently 2.0060. 5 long currently.
Do not focus on making money; focus on protecting what you have.
  • #10,722
  • Apr 18, 2007 8:45am Apr 18, 2007 8:45am
Quoting pablorpl
so.. do you say buy dips?
the rejection at pivot 0011 says so. R1 is 0086.

Too many mixed indications now. Look at 4hr chart right now:

I hate this pattern.
  • #10,723
  • Apr 18, 2007 8:47am Apr 18, 2007 8:47am
4hr chart now.

http://i2.photobucket.com/albums/y28/cesarnc/apr-18.jpg
  • #10,724
  • Apr 18, 2007 8:47am Apr 18, 2007 8:47am
Cable´s trailing the euro so far on this bounce...just manage to get to its 50% retrace of the fall...euro´s at 62%....
Trading Levels with WRBs
  • #10,725
  • Apr 18, 2007 8:54am Apr 18, 2007 8:54am
so it will going up or down?


Quoting cesarnc
4hr chart now.

http://i2.photobucket.com/albums/y28/cesarnc/apr-18.jpg
  • #10,726
  • Apr 18, 2007 8:58am Apr 18, 2007 8:58am
Quoting Why Oh Why
You gonna leave it in place?
No. I can't believe the market shied away from my 1/10 lot buy limit at 2.0012 on a dummy account.

Better watch out when I go live?
Gone to a better place
  • #10,727
  • Apr 18, 2007 9:00am Apr 18, 2007 9:00am
Quoting PandoraBox
so it will going up or down?
The support trend line is around 1995-00. Let's see if it breaks, if so, we probably would see retracement till 1.9920. Right Cesarnc? http://www.forexfactory.com/images/icons/icon7.gif
  • #10,728
  • Apr 18, 2007 9:14am Apr 18, 2007 9:14am
Quoting mktjong
The support trend line is around 1995-00. Let's see if it breaks, if so, we probably would see retracement till 1.9920. Right Cesarnc? http://www.forexfactory.com/images/icons/icon7.gif
breach of 0017/0011 pivotal area brings 9990. But that would mean a sentiment turnaround...

Rejection at pivot earlier let it clear that furious bears are not welcome
  • #10,729
  • Apr 18, 2007 9:18am Apr 18, 2007 9:18am
The trend over the last month has indicated that an area outside 1.9670 and 1.9970 is a dangerous place to be, in my opinion
Gone to a better place
  • #10,730
  • Apr 18, 2007 9:30am Apr 18, 2007 9:30am
Quoting smikester
No. I can't believe the market shied away from my 1/10 lot buy limit at 2.0012 on a dummy account. Better watch out when I go live?
Yeah mate, I will. Don't wanna be on the wrong side of you. 1 exited at 70 with 4 long o/s and I'll take another bit on 2 on the way up to first resistance at 2.026. I'll bring the SL in closer around that time also and let the other couple run up to 2.058 probably - current TP remains at 2.0510.

http://www.tradingcentral.com/chart/GBP_0704181542.GIF

Do not focus on making money; focus on protecting what you have.
  • #10,731
  • Apr 18, 2007 9:42am Apr 18, 2007 9:42am
I need a trade that will give me some of my stupid losses of this morning back, any suggestions?
  • #10,732
  • Apr 18, 2007 9:44am Apr 18, 2007 9:44am
Quoting Why Oh Why
Prop points include 2.0089 (today's Asian session top), 2.0074 (yesterday"s peak), 2.0063 (today's Asian session base), 2.0035 and 2.0000. TP in the distance at 2.0510 - I'll lock in manually 1 lot at a time on the ascent.
We're now back to the Asian session base. I just wish I hadn't had such a tight SL earlier. C'est la vie - move on. I'm tempted to go long again. And 66 is a pivot. We're also in a LT bullish channel.
Do not focus on making money; focus on protecting what you have.
  • #10,733
  • Apr 18, 2007 10:00am Apr 18, 2007 10:00am
Quoting Why Oh Why
We're now back to the Asian session base. I just wish I hadn't had such a tight SL earlier. C'est la vie - move on. I'm tempted to go long again. And 66 is a pivot. We're also in a LT bullish channel.
I hope we don't get there but if we do over my night then it could be a terrific opportunity. When I commented on direction a few hours ago on my first 5 long they hit SL within 1 hour. Bigger stop now. I trust I'll be right this time and the order won't open. SL 1.9955 and TP the same as the 4 O/S at 2.0510. Currently at 2.0057.
Do not focus on making money; focus on protecting what you have.
  • #10,734
  • Apr 18, 2007 10:25am Apr 18, 2007 10:25am
With delay but not too much…. I believe that today we have touched an important high. and that from here an equally important retracement can be made..
I assume that area 1,9750 would be right.

On this base I have shorted at 2,0040. This hypothesis would be wrong alone with one opening (daily) over the todays high.
The best thing that can happen to you is to find out where you're wrong.
  • #10,735
  • Apr 18, 2007 10:30am Apr 18, 2007 10:30am
Quoting Driver55
With delay but not too much…. I believe that today we have touched an important high. and that from here an equally important retracement can be made..
I assume that area 1,9750 would be right.

On this base I have shorted at 2,0040. This hypothesis would be wrong alone with one opening (daily) over the todays high.
Lack of news tomorrow and Retail Sales coming below previous we will have some downside. But it is too soon to call 97s before the rate statement, imo
  • #10,736
  • Apr 18, 2007 10:36am Apr 18, 2007 10:36am
GU under the 250ema and not enough energy to get above it + carry trade unwinding, looks like a retracement to me.

Keeping my shorts at 2.0031 looking at initial target of 9950 possibly by tomorrow.
  • #10,737
  • Apr 18, 2007 10:40am Apr 18, 2007 10:40am
Quoting cesarnc
Lack of news tomorrow and Retail Sales coming below previous we will have some downside. But it is too soon to call 97s before the rate statement, imo

Rate decision is in 3 weeks. Surely the uptrend cant be sustained forever without a breather.
  • #10,738
  • Apr 18, 2007 10:43am Apr 18, 2007 10:43am
Quoting cesarnc
Lack of news tomorrow and Retail Sales coming below previous we will have some downside. But it is too soon to call 97s before the rate statement, imo

I try to watch to medium term positions with relatively small stoploss.
This is one of those . (I hope)
The best thing that can happen to you is to find out where you're wrong.
  • #10,739
  • Apr 18, 2007 10:55am Apr 18, 2007 10:55am
I'm still waiting on my 50 and 38.2 fibo for retracement, then I'll be long if it bounched. Right now, I think Fibo is my only S/R. Any comment?
  • #10,740
  • Apr 18, 2007 11:01am Apr 18, 2007 11:01am
Quoting forex_newbie
Rate decision is in 3 weeks. Surely the uptrend cant be sustained forever without a breather.
It would make sense wasn't this strong USD-disgust in the market. You can almost SEE the traders having nausea when it comes to buy a few "dollar bills" here... Whatever the pair.

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