FX 2007 > March 5th - 9th

[a_gnome]

Morning all,
Fortunately I was short GBPJPY from last week, which is nice. Going to trail a stop to see how much more I can get.

Incidentally Vebo Variant would have made an absoluate killing the last couple of days. Just goes to show that you should stick with your system because you never know when those home-run moves are going to show up. I've proved to myself that it works so I'm going to start automating the whole thing now anyway.

Happy trading to all

 

[Marwan2010]

GBP - Falling Wedge?

I think 1.92 is likely to be some kind of bottom or support to GBP but other than the daily support lines I can't see a buy signal yet. My MA indicators are still on the short side.

In fact in this selling frenzy I have it on my charts that it could well go down to 1.9170 area.

Have a look at the 30 min GBP - a nice falling Wedge
A breakout to should see a good run up, currently strong resistance at 20 ema. With a macd and rsi divergence looks likely that this pair will head much higher! me thinks

 

[Jack o'Clubs]

...and nothing has fundementally changed....

Not sure I agree with that. Although more intangible, a change in market appetite for risk is just as fundamental as a hard set of numbers out of a US department. The effect also becomes self-fulfilling.

As an aside, I notice on dwadell's Profinum thread that one retail currency broker looks to have gone out of business over the last week's shenanigans - might be a good time for everyone to check their client monies segregation small print.

 

[eek]

Morning all,
Fortunately I was short GBPJPY from last week, which is nice. Going to trail a stop to see how much more I can get.

Incidentally Vebo Variant would have made an absoluate killing the last couple of days. Just goes to show that you should stick with your system because you never know when those home-run moves are going to show up. I've proved to myself that it works so I'm going to start automating the whole thing now anyway.

What is the Vebo Variant. I've got one based on Monday's range that is usually good for 100 pips a week (even with last weeks short range it broke even) but I could do with another variation or currency.

 

[Atilla]

Have a look at the 30 min GBP - a nice falling Wedge
A breakout to should see a good run up, currently strong resistance at 20 ema. With a macd and rsi divergence looks likely that this pair will head much higher! me thinks

Hi Marwan,

I use BBands and MA crossovers and whilst I can see a wedge and 1.92 is likely to be a strong support, I can't see a turn or buy at the mo.

In fact I'm watching 1.9193 and suspect if it brakes 1.9189 then it will go down further.

Considering another short at the mo. I wouldn't like to call the bottom unless my MAs cross over and I see a BB brakeout.

Really wish I stayed in such is life. Did have a good nights sleep though.

 

[Atilla]

Shorted cable at 1.9185. Got to go with my MA indicators. Looks like it's braking out of the BB to the downside on my 5 - 10 min charts. Also MACD and RSI on the supporting side.

Could be a false brakeout so watching and hoping for 1.9160 or below now.

 

[Atilla]

Shorted cable at 1.9185. Got to go with my MA indicators. Looks like it's braking out of the BB to the downside on my 5 - 10 min charts. Also MACD and RSI on the supporting side.

Could be a false brakeout so watching and hoping for 1.9160 or below now.

False brake out. However, I'm still in. Getting nice ressistance at 1.9220. Looks like failing buying pressure. Time will tell.

Watching waiting and hoping at the mo.

 

[City Bound]

Bought the 1hr pin bar at 1.9234. Exited half of the position for +20 and have the rest at B/E because it's so close to the news.

 

[trendie]

with a few minutes to go to close of hourly bar, the USDCHF is about ot print a pretty narrow range bar.

exhaustion of up-move prior to drop? or just a breather before sky-rocketing?

 

[Atilla]

with a few minutes to go to close of hourly bar, the USDCHF is about ot print a pretty narrow range bar.

exhaustion of up-move prior to drop? or just a breather before sky-rocketing?

That was a false brake out to the bottom. I've switched positions and now long on cable.

I think we may hit 1.9300-1.9350 sometime today.

 

[trendie]

That was a false brake out to the bottom. I've switched positions and now long on cable.

I think we may hit 1.9300-1.9350 sometime today.

if USDCHF mirrors cable, does that mean USDCHF should fall then?

(I still am amazed people can gauge where prices can go to! respect! )

 

[a_gnome]

What is the Vebo Variant. I've got one based on Monday's range that is usually good for 100 pips a week (even with last weeks short range it broke even) but I could do with another variation or currency.

Hi eek,
Vebo Variant is my personal variation on the basic Vebo method. It uses the same morning break-out concept but with different entry levels and with simpler exit rules (e.g. no b/e stops etc.)

HTH

 

[Atilla]

if USDCHF mirrors cable, does that mean USDCHF should fall then?

(I still am amazed people can gauge where prices can go to! respect! )

I don't know about gauging where prices can go... I merely use Fib retracements when ever there are long price moves and resistance piles up.

I use BB & MA brakeouts + MACD + RSI indicators to form an opinion on the direction and then it's Fib retracement of at least between 23% - 61%. Look at previous SAR points and pick the one with most hits.

1.9350 is merely a 61% retracement from the last nights level before the fall.

So far 1.9250+ levels are a 23% retracement.

Bear in mind they are now talking about an interest rate drop in the US whilst the Fed is still barking about inflation is the more worrying factor for the US economy and so possible interest rate rise.

Very crude and text book based but it works most of the time especially in a trending market.

 

[trendie]

with a few minutes to go to close of hourly bar, the USDCHF is about ot print a pretty narrow range bar.

exhaustion of up-move prior to drop? or just a breather before sky-rocketing?

after 2 hours, no obvious up/down move, so scratch trade.

 

[dc2000]

mrng chaps
I see more peeps are joining the darkside lord vader will be pleased
it is a seriously good read though

looking at cable if I was looking for a long position then 144 would be a decent entry

 

[Offshore Trader]

Morning DC. Does that mean you are bearish now or just "if it was to go to 144...." It looks to me as Cable is gearing itself for a break above 9305....

 

[dc2000]

anything under 331 Im bearish just for today, the I will be bullish for the rest of the week until NFP

 

[jacinto]

mrng chaps
I see more peeps are joining the darkside lord vader will be pleased
it is a seriously good read though

like my new face?

 

[trendie]

down for cable?

PS: jacinto; you can creams for that!

 

[jacinto]

down for cable?

PS: jacinto; you can creams for that!

imagine, naked and with a face like that. :cheesy:

or up....alternative scenario