FX 2007 > March 12th - 16th

[29Investments]

To use someone's analogy from yesterday - is the bow string fully pulled back or about to snap? Long and hoping.....

It seems we are at the mercy of the equity markets and the "carry" trade effect again. LArge falls in US equities causing unwinds in carry trades which are crushing GBPJPY hence cable lower

 

[29Investments]

To continue above..

It may be worth keeping an eye on the dow as we are approacghing the low reached after the blow out 2 weeks ago. If this holds and makes a double bottom people will probably pile back in and we will see these carry trades being reapplied which should be good for gbpjpy and hence the pound in general.

Of course if 12040 (cash market) gives way 11200 here we come etc etc

 

[rav700]

Long@ 39
Stop@09
[email protected]m

 

[29Investments]

Supposedly stong support at 180/185

 

[dc2000]

longer than a long man in a long jump

gettin ready to take some early profit an me FTSE ya know
me want some reggae reggae sauce

 

[rav700]

selling pressure is on....Might cut ma losses

 

[dc2000]

selling pressure is on....Might cut ma losses

where?

 

[rav700]

On Cable matey...but since you have come back it is gone haha..
Did you get my Pm DC...

 

[dc2000]

just noticed I have a pm will have a read shortly

exiting FTSE now will reload shrt at 115

 

[rav700]

+10 pips and I am out

 

[Atilla]

To use someone's analogy from yesterday - is the bow string fully pulled back or about to snap? Long and hoping.....

Hope is good for the soul but not sure about your finances.

I should add OT that my comment was strictly for the moment yesterday. In these volatile markets I would hate to be held to account. The GBPUSD did touch 355 before pulling back though. What can I say a false brakeout. From 330 regions that sill could have pocketed you 20 pips or so if you played your cards right. Given the turmoil in the markets I thought GBP held well.

I did also comment on the descending triangle last night before going to bed and suggested if 280-270 is breached we'd touch 220. It seems we were at 220 around 7:30 this morning.

Such is life, I lost out on the first trade my self and didn't participate in the latter.

I don't have a crystal ball and any person who acts on other persons tips perhaps might be kind enough to pass some of their proceeds to the fortune teller.

Anybody who loses out, I know a good shrink and an accountant who might be able to show them the way...

In the long run, however, without interest rate and tax rises in the US (either not very likely), the $ is heading for further falls.

1.92 is likely to be a very strong support, but I'd look for indicators and at the moment I'm seeing the price on the wrong side of my BBs and MAs (hourly charts) for going long. So I shall be sipping peppermint tea and doing not much this morning.

Good days trading to you squire...

 

[rav700]

Last attempt to break s1 ie 52 if this dont break ....I think 185 is calling us.........

 

[2be]

Hope is good for the soul but not sure about your finances.

I should add OT that my comment was strictly for the moment yesterday. In these volatile markets I would hate to be held to account. The GBPUSD did touch 355 before pulling back though. What can I say a false brakeout. From 330 regions that sill could have pocketed you 20 pips or so if you played your cards right. Given the turmoil in the markets I thought GBP held well.

I did also comment on the descending triangle last night before going to bed and suggested if 280-270 is breached we'd touch 220. It seems we were at 220 around 7:30 this morning.

Such is life, I lost out on the first trade my self and didn't participate in the latter.

I don't have a crystal ball and any person who acts on other persons tips perhaps might be kind enough to pass some of their proceeds to the fortune teller.

Anybody who loses out, I know a good shrink and an accountant who might be able to show them the way...

In the long run, however, without interest rate and tax rises in the US (either not very likely), the $ is heading for further falls.

1.92 is likely to be a very strong support, but I'd look for indicators and at the moment I'm seeing the price on the wrong side of my BBs and MAs (hourly charts) for going long. So I shall be sipping peppermint tea and doing not much this morning.

Good days trading to you squire...

On daily and 4hrs chart - cable might try the 9180 support forming a W before going substantially up, though 9220 is the lower boundary of todays range in my strategy. also being a pivot support which has not been penetrated.

 

[rav700]

Short @ 32 stop@55 Target ------180

 

[2be]

Last attempt to break s1 ie 52 if this dont break ....I think 185 is calling us.........

Looks like 185 is a strong call

 

[Offshore Trader]

Atilla - the hope thing was just a flippant comment not a real description of my trading plan. I just liked your analogy yesterday, if cable was to get back above 55, it could go much, much higher.
The push up into the hourly close at 10 am was interesting.

 

[Atilla]

Atilla - the hope thing was just a flippant comment not a real description of my trading plan. I just liked your analogy yesterday, if cable was to get back above 55, it could go much, much higher.
The push up into the hourly close at 10 am was interesting.

Ooops, I am relieved and that's ok. I thought you might be long from yesterday and I know it always hurts losing pips and thought you might be still hanging on. I felt a touch of guilt thinking you might be losing money on my predictions.

Being a robust character and thick skinned I'm sorry for my defensive blurb...

This site is fantastic and all the traders comments. I just type my toughts out on the fly.

Apologies and kind regards,

 

[rav700]

Looks like 185 is a strong call

Hi 2be,

Those are my thoughts.....I have had a bit of weak day yesterday but on all the last 5 days of trading have been spot on....
Cable has been testing my patience yesterday and today and I dont want to end up loosing what I have gained by "compulsive trading "if you know what I mean....

Currently I think cable is just a frame waiting to be broken........................either way it should be profitable.....

Buy @ 65-----Target Minimum 300 if it does not break 65 then reverse and profit else Profit from the trade..
Sell@25-----Target Minimum 190 if it does not break 25 then reverse and profit else Profit from the trade...

Happy Trading Rav
( These are just my simple thoughts ie the mind indicators

 

[Uphios]

Ooops, I am relieved and that's ok. I thought you might be long from yesterday and I know it always hurts losing pips and thought you might be still hanging on. I felt a touch of guilt thinking you might be losing money on my predictions.

Being a robust character and thick skinned I'm sorry for my defensive blurb...

This site is fantastic and all the traders comments. I just type my toughts out on the fly.

Apologies and kind regards,

Nice people on this board.

As a general rule of thumb I do not follow anyone and suggest others do the same. I use these boards to confirm (or otherwise) my view on where we are going and look for targets (because I have none). For instance,I have learnt it is not a wise move to bet against DC, though I do not follow him without agreeing the direction, then I 'borrow' his targets.

Currently short from 355 because it was a near fib of the previous drop. On this one it is against DC EXCEPT that 2 days ago he had a target of 225. All I have done is stuck with that whereas DC feels that target was met with the drop to 272. My current target is 170 area but I will take anything under 225 if it twitches. Would have taken this am's 225 if I had been awake!

 

[rav700]

Nice people on this board.

As a general rule of thumb I do not follow anyone and suggest others do the same. I use these boards to confirm (or otherwise) my view on where we are going and look for targets (because I have none). For instance,I have learnt it is not a wise move to bet against DC, though I do not follow him without agreeing the direction, then I 'borrow' his targets.

Currently short from 355 because it was a near fib of the previous drop. On this one it is against DC EXCEPT that 2 days ago he had a target of 225. All I have done is stuck with that whereas DC feels that target was met with the drop to 272. My current target is 170 area but I will take anything under 225 if it twitches. Would have taken this am's 225 if I had been awake!

It looks like your pips have arrived