FX-2008: w/c Feb-04th

[bbmac]

gbpusd

Being royally entertained here by Magic (playing the carpenters!! Lol, great voice though karen [i'll just have the starter] carpenter.) What with this and the fights / fallouts amongst the ego-maniacs/self proclaimed (it'll go up or down) gurus that go on at the cable thread over at forexfactory, it's a laugh a minute.

As for trading, oh yeh that....Cable finding resistance in this 9481-9526 zone being former swing lows on 4hr, and containing various fib retraces of moves down inc 9512 50% 9634-9389 and 50% of yesterdays fall at 9506. 23.6% of the longer move 0101-9339 lows at 9517 too (already breeched to the upside) 23.6% of 9959-9389 at 9523.

 

[shadowninja]

EUR/USD: may start heading up today or Monday.

 

[ampro]

Ok, you got me...I'm gonna fall for it

Headed up to where approx, based on what?

Where you long from (as a matter of interest)?

 

[trendie]

yesterdays gains all blown within a couple of hours today on EURJPY.
partly perhaps I chased and tried to get revenge on the market for an earlier loss, which then, predictably, compounded.

its been about 9 months since I started full-time, and am in the last quarter of the first year. very mediocre results to say the least.

hope you guys are doing better. I am scaling back for afternoon session.
have a good weekend.

 

[ChowClown]

...it's been a slow start for me this month (i trade just GBP/USD atm). This week has recovered losses made last week.

Took a 15min IB short out of the overnight session for a loss early London and will watch until 2ish to see if a similar short setup arises out of the current pivot area. If not, then the weekend beckons.

Until next week.

PS thanks Ampro and GammaJammer - really appreciate your insights.

 

[ampro]

Hello ChowClown

Yeah, there's a bit of nervous energy blowing off into the weeks close at current levels on the Euro & Pound.

Only to be expected that folks will be trimming out ahead of the London "happy hour"...I guess the vultures will have a pop at chasing the liquidation up the ladder, see what they can claw out of it into the close.

Probably pay you to go crack a beer & do the homework ready for next weeks show-time

Good to hear you're snatching a few bucks back from that mean old Cable!!

 

[shadowninja]

Ok, you got me...I'm gonna fall for it

Headed up to where approx, based on what?

Where you long from (as a matter of interest)?

Look at the chart.

It's near the bottom of a range. Support at 14450.

 

[bbmac]

Congestion 2nd breakout

Nice example of the congestion 2nd b/o phenomenon on the 5min cable today.

The sell off from 9510 area and subsequent rally around 9468 then channelled just off the highs and off the pullback lows at 9468 . Price then broke down to point A, before finding resistance at the bottom of the congestion channel at point B then C...see screenshot attached.

 

[ampro]

Look at the chart.

You're a rascal & that's for sure....Cap't Currency ought to have you swabbing decks & sorting thru the slop buckets.

You still haven't divulged your game plan though mister

Where's your Plan B at? What's the contingency for the pop off this resting base here turning sour if/as the gambling money gets cold feet??

 

[shadowninja]

Eh? Ok stop below 14550. I swing so would hold and move stops up.

No real game plan. I'm too simple for that.

 

[ampro]

Merv fixes em with his stare!!

LOL, he's a wiley old fox. Won't stand for any of that political bull****.

BoE rejects calls to publish MPC vote alongside interest rate decision - Forbes.com

 

[ampro]

Worth keeping an eye on as it pressures this barrier yet again. Could have a pop at the stops lurking atop this 108.0 ceiling into early next week.

If it garners support, it'll encourage the carry pairs to go hunting their own tid bits. If not, the path back to range supports is a well trod stroll.