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Cable Update (GBPUSD)

  • #10,781
  • Apr 19, 2007 1:44am Apr 19, 2007 1:44am
Quoting dd33
Can explain where u got that conclusion?? On my H4 chart, cable has already break through 61.8 retracement and heading to 50 on 2.0010. Seems like it will test 2.0 today.

I go short from .025. TP 2.0.

The bear is not knocking the door again. He's "banging" the door.

Nice pips !!
  • #10,782
  • Apr 19, 2007 1:48am Apr 19, 2007 1:48am
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Cable trades back below 2.0 level. Support comes in at 1.9970 which is the hourly support line from 9 Apr '07.

- Courtesy of Market News International
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #10,783
  • Apr 19, 2007 1:50am Apr 19, 2007 1:50am
carry trades are being unwound on fear of china raising rates again. any interest rate hike by china benefits the yen and the japanese economy. if it benefits the japanese economy, then they may also hike in the future thus the unwinding of carry trades.

remember, china can dictate the yen show.
  • #10,784
  • Apr 19, 2007 1:50am Apr 19, 2007 1:50am
2.0 Support is breached. Welcome to the .99s again. Put another short. TP .9945 on 23.6 retracement.

The Bear is in da house.
  • #10,785
  • Apr 19, 2007 1:52am Apr 19, 2007 1:52am
Hi firends
whats your idea .... it touched 2.000 and now is 1.9985 !!
  • #10,786
  • Apr 19, 2007 1:52am Apr 19, 2007 1:52am
Quoting dd33
2.0 Support is breached. Welcome to the .99s again. Put another short. TP .9945 on 23.6 retracement.

The Bear is in da house.
Sorry.. that is if cable can breached through 38.2 retracement on .9970. Anyone preparing welcoming party for the Bear??
  • #10,787
  • Apr 19, 2007 1:57am Apr 19, 2007 1:57am
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Quoting dd33
Sorry.. that is if cable can breached through 38.2 retracement on .9970. Anyone preparing welcoming party for the Bear??
A lot of pomps & celebrations too.. I heard the next support line is 1.9940 if the current 1.9970 is broken..
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #10,788
  • Apr 19, 2007 1:57am Apr 19, 2007 1:57am
We really must thank those guys who put their stops around the 00 numbers......added another 15 pips to my short. Now, how much will it bounce....what will the LO do? If no buyers step in the bears will eat well as nervous longs exit.
Trading Levels with WRBs
  • #10,789
  • Apr 19, 2007 2:05am Apr 19, 2007 2:05am
Wow.. bounced so high again. Got stopped. Hiks..
  • #10,790
  • Apr 19, 2007 2:18am Apr 19, 2007 2:18am
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Hmm, bounced back above 2.0 mark. Still got so many bulls around?
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #10,791
  • Apr 19, 2007 7:28am Apr 19, 2007 7:28am
thanks islander.

Glad to hear that my tips help you on your forex trades!!

Everyone should know that you can not always win at Forex, but you can win in the long term if you just let your profits flow. The trade recommendations I mentioned before is only for intraday trades and are risky, no guarantees... in fact the golden rule in Forex is:

Always open 2 lots :

First lot take profits after 15 - 30 pips or more depending on situation. Stop loss 12 - 15 (hedging is better so you can take a second chance.)

Second lot: never close the trade only set break even after 25- 35 pips. After a few days the price might be 500 points away from your trade.. this is the Real Golden Rule in Forex profits.


Quoting Islander
1. Always believe on your trades. Belief works miracles.

2. If price tries to break a support point and it doesn't it will just go the opposite way.

3. Your stop Loss always should be set at 12 - 15 points no more.

4. Be patient, nobody knows when the money will flow in.

Useful comments...thanks fm55.

Interesting to them in action....#2....it just failed to break the earlier low and is bouncing toward your targets and #3 didnt trigger your 15 pip stop.

Not following #4 yesterday cost me more than 50 pips when I exited early!
Pips till you drop ........... !!
  • #10,792
  • Apr 19, 2007 7:32am Apr 19, 2007 7:32am
Quoting forexmaster55
Take a long now with 2 lots.

1 lot take profit at 2.030 profit 30 pips
2 lot take profit at 2.045 profit 45 pips

profit for the day 75 pips !!

AT YOUR OWN RISK

whipsaw dangerous market

Strong Recommendation:

Close both trades for 10 - 25 pips profit per lot as we are in profit already.

Price can go anywhere from here.
Pips till you drop ........... !!
  • #10,793
  • Apr 19, 2007 7:34am Apr 19, 2007 7:34am
Quoting Islander
Not following #4 yesterday cost me more than 50 pips when I exited early!
Great call. How many minutes did that one happen in Islander?
Do not focus on making money; focus on protecting what you have.
  • #10,794
  • Apr 19, 2007 7:35am Apr 19, 2007 7:35am
On the daily chart it's made a move towards to the cloud.

On the 4 hour chart it's drifting gently down to the cloud

On the hourly chart it's in the clouds and looks like breaking out below.

On the 30 minute chart it's under a bearish, flat cloud which is becoming lower.

On the 15 minute chart it's been under the clouds for some time and is approaching a bearish cloud.

I didn't think the clompy old £ would last long in the rarified atmosphere of over 2.01. So I'll be rash and expect a fall, over the next few days, to between 2 and 1.96
Gone to a better place
  • #10,795
  • Apr 19, 2007 7:53am Apr 19, 2007 7:53am
Quoting Why Oh Why
Great call. How many minutes did that one happen in Islander?
Yesterday, I sold at 0123, after the second attempt on the 0130 area, held it for about an hour and closed at 0108 and then went out for an hour......and missed 50+ pips.

Normally, I would trade in position of 3 lots, but so near the high I was nervous and only traded 1 lot, hence didnt have anything left open to profit from the drop.

So I was impatient and also not following my normal strategy....and I paid the price.

http://www.forexfactory.com/images/icons/icon9.gif
Trading Levels with WRBs
  • #10,796
  • Apr 19, 2007 7:53am Apr 19, 2007 7:53am
Big FIX at 13:00 GMT - 7 to go
  • #10,797
  • Apr 19, 2007 7:56am Apr 19, 2007 7:56am
what fix are we talking about cesar???
  • #10,798
  • Apr 19, 2007 7:57am Apr 19, 2007 7:57am
when will you make your calls for tomorrow ??
  • #10,799
  • Apr 19, 2007 8:02am Apr 19, 2007 8:02am
Another fix, rumors has it HUUUGEEE at 10am EST...

Fixes are big positions in and out, most at top of the hours. Usuals are Frankfurt open, 11am EST, 14GMT and 16GMT and Tokyo open...

But sometimes the shakeout is heavy.
  • #10,800
  • Apr 19, 2007 8:03am Apr 19, 2007 8:03am
forexmaster55 you say

Quote
'anyone that followed my trades should open 2 lots long at 2000 and closed for 20 - 25 profits each which means about $450 profit'

However one of your rules says

Quote
'Your stop Loss always should be set at 12 - 15 points no more'

According to my broker 19985 was hit. With spreads to pay you would have been stopped out of the trade
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