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Cable Update (GBPUSD)

  • #265,881
  • Dec 7, 2010 12:54am Dec 7, 2010 12:54am
Will Manuf and Ind Prod numbers provide an above forecast/last month's number surprise thus reflecting last week's comparative Ism numbers (for non services?)

Could see some £ strength on the knee-jerk reaction is this is the case ?

G/L
ex member
  • #265,882
  • Dec 7, 2010 1:20am Dec 7, 2010 1:20am
Pullback's to 1hr potential rbs zones supported ahead of the Uk data at 0930am gmt.

G/L
Attached Image
ex member
  • #265,883
  • Dec 7, 2010 1:35am Dec 7, 2010 1:35am
A little slow....... in acting eh Mac the good news that is.......
  • #265,884
  • Dec 7, 2010 1:38am Dec 7, 2010 1:38am
Hi, I've just gone short from 1.7778

I will see how this goes. Got a pretty tight SL
  • #265,885
  • Dec 7, 2010 1:40am Dec 7, 2010 1:40am
Quoting fuse
Hi, I've just gone short from 1.7778

I will see how this goes. Got a pretty tight SL

I'm mean 1.5778
  • #265,886
  • Dec 7, 2010 1:40am Dec 7, 2010 1:40am
Quoting fuse
Hi, I've just gone short from 1.7778

I will see how this goes. Got a pretty tight SL
wow,, my high of today is only 1.5792

and by the way its going up.......
  • #265,887
  • Dec 7, 2010 1:43am Dec 7, 2010 1:43am
Quoting fuse
I'm mean 1.5778

That was fast, I'm out
  • #265,888
  • Dec 7, 2010 1:46am Dec 7, 2010 1:46am
I will wait now. I'll look to have another go at shorting if price reaches 1.5840
  • #265,889
  • Dec 7, 2010 1:47am Dec 7, 2010 1:47am
Quoting fuse
That was fast, I'm out
Not an expert myself, yet, but I would suggest not placing trades either side of updates by at least 5 minutes or so...... Protect account always...
  • #265,890
  • Dec 7, 2010 1:48am Dec 7, 2010 1:48am
Mixed bag on the data, good manuf number but weak ind prod number, which is a component of the former....sees a knee-jerk sell-off started at 0927am on the 1min bearish divergence play (didn't take so close to the data but funny how the charts always know - lol !) price reacted down to the previous 5min swing lo zone/previous 1hr swing hi zone again (previous resistance) and a very swift recovery with a great 1min reaction pinbar trigger to get long. again..

Finishing here for the day and just got flat.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: 0927 and 0931 1min set-ups - Copy.gif Size: 21 KB
ex member
  • #265,891
  • Dec 7, 2010 1:49am Dec 7, 2010 1:49am
Quoting AdrianHNV
Not an expert myself, yet, but I would suggest not placing trades either side of updates by at least 5 minutes or so...... Protect account always...
Yes good point. I saw an opportunity and went for it. Had a tight stop loss, so didn't loose to much
  • #265,892
  • Dec 7, 2010 1:53am Dec 7, 2010 1:53am
Quoting fuse
Yes good point. I saw an opportunity and went for it. Had a tight stop loss, so didn't loose to much
Yup I too and I suspect many others here have also done that in the past,

it's only learning from our mistakes makes us better traders.
  • #265,893
  • Dec 7, 2010 1:55am Dec 7, 2010 1:55am
Final look at near-term 4hr screesnhot reveals that descending equidistant channel/trend line (red dotted) is breeched to the upside with new ascending equidistant channel/trend line formed (green dotted) ?

Fibs are plotted from 6297,6183, 6093 and 6083 all to 5483 on the is t/f.

G/L

http://www.easy-upload.net/fichiers/z.201012710559.gif
ex member
  • #265,894
  • Edited 2:43am Dec 7, 2010 2:23am | Edited 2:43am
If price makes it to this UTL on H4 (around 15860) ... could expect a sell-off to 38% of the move (based on yesterdays low) where there is also some support from DEC3 high ... in the region of 15780

To view this H4 channel and daily: http://www.forexfactory.com/showpost...stcount=265845
Attached Image (click to enlarge)
Click to Enlarge Name: ifp.jpg Size: 85 KB
  • #265,895
  • Dec 7, 2010 3:04am Dec 7, 2010 3:04am
chancing a long here 15780 area ... looking for that H4 test of UTL if we make it above EMA200
  • #265,896
  • Dec 7, 2010 3:29am Dec 7, 2010 3:29am
Quoting chazzle
chancing a long here 15780 area ... looking for that H4 test of UTL if we make it above EMA200
out for a few already - pretty high leverage , and decent profit in my preferred trading time 7 - 11 GMT.
  • #265,897
  • Dec 7, 2010 3:43am Dec 7, 2010 3:43am
looking for 15760 for another long scalp....(38% yesterday low/today high/resistance in Asian session possibly becoming support here-short term at least)
  • #265,898
  • Dec 7, 2010 3:56am Dec 7, 2010 3:56am
Quoting chazzle
looking for 15760 for another long scalp....(38% yesterday low/today high/resistance in Asian session possibly becoming support here-short term at least)
also, I have DR1 at 1.5776

gl
... feel better day by day.
  • #265,899
  • Dec 7, 2010 4:24am Dec 7, 2010 4:24am
long at 15770
  • #265,900
  • Dec 7, 2010 4:36am Dec 7, 2010 4:36am
Quoting chazzle
long at 15770
exit @ EMA20 M5 12 pips
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