FX 2007 > Week 26 - 30 Mar

[rav700]

Seasonal Chart Patterns

I thought I would post this as It would help in trend decision :idea: :cheesy:

 

[Atilla]

I thought I would post this as It would help in trend decision :idea: :cheesy:

According to this do we understand that around the middle of March there is a change in trend that continues until end of April.

So we are either topping out or getting ready for the big surge past $2 mark perhaps?

Interesting.

 

[Uphios]

Hi chaps, popped in to see what is being said. Cable, bloody aweful dead as ditchwater. Had a small punt on GBPJPY today and made a few pips, at least it moved. Picked up a nice long on the DOW (I only ever long it) and then frightened myself out of it for 10 pips profit and watched it add another 70 over the next hour or so. Bugger.


As for posts I don't think this was ever a cable only board, just cable by default but I think everybody is happy to look at anything that might turn a profit.

Gonna continue with my USDJPY tonight and keeping an eye on cable cos I still think a large drop is around but perhaps not before a decent move up to wrong foot everyone.

Good luck.

 

[Atilla]

Hi chaps, popped in to see what is being said. Cable, bloody aweful dead as ditchwater. Had a small punt on GBPJPY today and made a few pips, at least it moved. Picked up a nice long on the DOW (I only ever long it) and then frightened myself out of it for 10 pips profit and watched it add another 70 over the next hour or so. Bugger.


As for posts I don't think this was ever a cable only board, just cable by default but I think everybody is happy to look at anything that might turn a profit.

Gonna continue with my USDJPY tonight and keeping an eye on cable cos I still think a large drop is around but perhaps not before a decent move up to wrong foot everyone.

Good luck.

Hi Uphios,

I saw almost a perfect asymmetrical triangle forming on the 4 hour charts with an uptrend.

I thought it might turn up but now I'm not so sure. Nice to have a balanced view.

Typically cable...

I've got a long pos on EurUsd with a Limit at 1.3350. & SL at 1.3320. Will leave that overnight.

 

[Chocolate]

Ok, first cable trade in ages...long at 1.9625, looking for 100+ pips by next Friday. Stop at 1.9569.

 

[laptop1]

Ok, first cable trade in ages...long at 1.9625, looking for 100+ pips by next Friday. Stop at 1.9569.

its trading at 1.9624 at the time of posting.

I see the market short over the next few days. The trade would be short the same price you gone long at 1.9625. my target would be 1.9569 stop 100 to start but will move it later, if the market proves me right...

Short 1.9624
Target 1.9569
Stop 100

 

[Atilla]

its trading at 1.9624 at the time of posting.

I see the market short over the next few days. The trade would be short the same price you gone long at 1.9625. my target would be 1.9569 stop 100 to start but will move it later, if the market proves me right...

Short 1.9624
Target 1.9569
Stop 100

Trader Tom has a view on Cable...

Perhaps you are right Laptop1, as previously on his 78 day trading range, cable takes a mini fall only breakout to the upside.

I'll continue to watch for the time being.

EURUSD pos got stopped out over night, but seems to have moved up again to 1.3335 levels.

 

[Atilla]

Cable has decided to shift it's rear and go for a stroll?

I've fallen off my chair...

 

[Offshore Trader]

I hope it doesn't get scared being too far away from home and come back to the safety of 1.9630

 

[Uphios]

Great, I missed it. After spending a week looking for a drop and planning to get short again around 655 it sends my mind numb, I don't bother to place a pending short for the overnight and it goes and does a chunk of the move I had been waiting for. Most of the way to my target now so looking to long at 525.

 

[SirFrancis]

Any guesses as to where this bottom might be?

 

[Atilla]

Great, I missed it. After spending a week looking for a drop and planning to get short again around 655 it sends my mind numb, I don't bother to place a pending short for the overnight and it goes and does a chunk of the move I had been waiting for. Most of the way to my target now so looking to long at 525.

I got in late but just scalped at 580 and managed a 15 pip squeeze...

Almost expecting an imminent bounce.

I'm thinking of going with Toms analysis

This is from Rav's post yesterday evening. Thanks Rav.

CABLE TECH: Rangebound
RES 4: $1.9780 Daily Bollinger band top
RES 3: $1.9740/43 76.4% of $1.9187 to $1.9917 & Daily high 2 Feb
RES 2: $1.9725 Daily high 22 Mar
RES 1: $1.9660 Hourly resistance line from 26 Mar
CURRENT LEVEL: $1.9645
SUP 1: $1.9595 Support line from 21 Mar
SUP 2: $1.9575 Daily low 26 Mar
SUP 3: $1.9555 50.0% of $1.9726-$1.9385 & Daily low Mar 21
SUP 4: $1.9505 100-day moving average
COMMENTARY: Rangebound for now, with 7-day support line at $1.9595 on
the downside and an hourly resistance line at $1.9660 on topside. Needs
to break out of these parameters to determine the next move.

 

[Atilla]

Great, I missed it. After spending a week looking for a drop and planning to get short again around 655 it sends my mind numb, I don't bother to place a pending short for the overnight and it goes and does a chunk of the move I had been waiting for. Most of the way to my target now so looking to long at 525.

With cable that has happened to me about 3 times. Go to make tea, take a phone call or to release some chocolate hostages and it's moved. Especially, when it only makes 50 pip move a day.

This the support no 3 at 550?

Will wait to go long maybe around 1.95 or if my 10m MAs crossover upward bound.

 

[Offshore Trader]

Taken half my profit but I'd be wary of going long. After spending a long time in a narrow range we could see a resonable size move now. Stop on remainder at 1.9598. If it goes there will cut half of remaining position just above 1.9500

 

[Uphios]

Kind of glad it didn't make my target (at least not yet) 'cos I know I would have been still holding short. The plan was down to 525 area, up to 613 and then down to sub 400. Now the only question is do I take the low so far to be the first leg or are we just part way through? Decisions, decisions. Either way any visit back over 600 and I need to get short.

Worked it out, half short at 80 if it goes over 600 add to short if it it get 525 close and reverse.

 

[Uphios]

Well Rav, pity we didn't hold onto those 700 shorts a couple of days back, I knew they were good.

 

[rav700]

Well Rav, pity we didn't hold onto those 700 shorts a couple of days back, I knew they were good.

£8000 down the drain on that one mate

 

[Uphios]

£8000 down the drain on that one mate

Ouch!. Not so bad for me but courage of our convictions and all that. I was so sure we were heading down I overloaded my position and then when it didn't happen quickly enough I grabbed my meager profits for fear of losing it. The problem for me was simply down to greed and extending my account into a dangerous area, a few less shorts and I would have held my position and made a lot more in the long run. Oh well, another lesson.

 

[rav700]

Ouch!. Not so bad for me but courage of our convictions and all that. I was so sure we were heading down I overloaded my position and then when it didn't happen quickly enough I grabbed my meager profits for fear of losing it. The problem for me was simply down to greed and extending my account into a dangerous area, a few less shorts and I would have held my position and made a lot more in the long run. Oh well, another lesson.

I didn loose it but I didnt make it either....
I already have another short running @ 655 ahahah :cheesy:
But not a very heavy position

 

[Atilla]

I didn loose it but I didnt make it either....
I already have another short running @ 655 ahahah :cheesy:
But not a very heavy position

Thought it might bounce. Didn't take it. But my MAs about to cross over. If 1.9590 is not breached I think another drop is on the cards.

Will go long @ 592
Will go short @ 572

A little uncertain but will riskit.