FX 2007 > March 12th - 16th

[rav700]

Good luck to you as well...............As I always say Happy Trading...

 

[Atilla]

I think 55 should become support zone now....

Yes looks like it. I've set up SL & Limit now either way I'm up so I'm off to bed now. Usually don't like being exposed to position overnight but feel confident...

ZZZZzzzzzz

 

[rav700]

Cable still stuck in the 30-40 area..it needs to clearly break thorugh 50 to go any where....has been very quiet in the asian trading session wonder when cable will wake up?????

 

[Atilla]

Cable still stuck in the 30-40 area..it needs to clearly break thorugh 50 to go any where....has been very quiet in the asian trading session wonder when cable will wake up?????

Typical. SL kicked in and lost some of the gains from this early morning. Though looks like we are about to brake out again. Going long again. Guessing it will brake through 370 and 400 today.

 

[29Investments]

Short from 392 looking for 400 to hold, stop 415

 

[Priceman]

It just bounced off the 200sma and 95 was the 161.8% fib extension of Friday's range and it's also a pivot resistance level. I rode the ride up but hopped off as these things tend to turn and stop you out (Atilla said just now, very frustrating)

Will the news at 0930 give some more direction? Best of luck chaps. I would like to see it going up without messing us around. Lovely start to the week so far.

 

[2be]

Short from 392 looking for 400 to hold, stop 415

Just shorted @388 too

 

[Atilla]

It just bounced off the 200sma and 95 was the 161.8% fib extension of Friday's range and it's also a pivot resistance level. I rode the ride up but hopped off as these things tend to turn and stop you out (Atilla said just now, very frustrating)

Will the news at 0930 give some more direction? Best of luck chaps. I would like to see it going up without messing us around. Lovely start to the week so far.

So far so good. Here comes up 400 for the challenge.

I think the rise is strong. People have now focused in on the next potential interest rise for UK after ECB. Japan showing strong growth too. Gold is rising along with oil so all indicators for inflationary pressures continue.

 

[2be]

Just shorted @388 too

Short confirmed by divergece RSI CCI and MACD Histogram 15min

 

[Atilla]

Short confirmed by divergece RSI CCI and MACD Histogram 15min

That's the pull back of the bow before the arrow is release.

 

[29Investments]

Big danger for us shorts here is that 9400 is well known resistance, hence there will be lots of orders the other side, both stops and limit longs. If the data at 9:30 shoves the price past 9400 I think we are up and wont look back

 

[2be]

Big danger for us shorts here is that 9400 is well known resistance, hence there will be lots of orders the other side, both stops and limit longs. If the data at 9:30 shoves the price past 9400 I think we are up and wont look back

out with couple of pps

 

[Atilla]

out with couple of pps

I think interest rates rises due either in April to knock the spurt in house sales which normally pick up in spring or for sure this summer or late autumn. Watch for price of commodities and oil as to when.

Like the Euro the £ will just creep up now.

 

[29Investments]

Looks like we havent gone far enough to trip stops yet. Failure to hold 94 could prompt some selling

 

[2be]

Looks like we havent gone far enough to trip stops yet. Failure to hold 94 could prompt some selling

400 might have formed good support like all round numbers do

 

[ChowClown]

...wonder how they will play the 50% - 61.8% zone. Looking to short thereabouts, DC?

 

[29Investments]

 

[2be]

29 it was a sensible trade on support generated by 15 min candles, it just didn't work and losses are small. The news is stabilising for further move up for cable, just wait for a pull-back and buy

 

[2be]

That's the pull back of the bow before the arrow is release.

Thanks Atilla, good posting, didn't get burned that much.

 

[Offshore Trader]

I'm a little surprised by a such a strong pullback but there is resistance for EUR/GBP here so maybe this is a good place cable (1.9390)

or maybe not......I thought today was the day cable was breaking out of its range but it seems to be trying to get back in. It is getting very difficult to trade IMHO