FX Trading May 21-25

Cable at 2.000 and above will happen

  • Total voters
    19
  • Poll closed .
Crap Buddist said:
yeah, I think its double hard to trade and hold another job. No easy solution to that apart from, life changing ones, downsizing work, if trading ambitions are greater than other work interests. Solution might be to trade longer timeframes, but if as you say you dont like that, or you want to be more hands on, agressive. Then I can see how it may naturally conflict.

Not easy.. :)
Click to expand...

You're right - it's not easy. But I'll get there.....Eventually! :cheesy:
 
lunchtime nothing happening small candles ...everyone on the motorway? i have one gbp/eur sell that is grinding nicely down. will go mow the lawn.
 
Got two sell trades on my demo account

Eur/Jpy - sell (currently -3)
Eur/Usd - sell (currently +1)

Target 30 pip profit on each.
 
The Pearl Fisher said:
Cable traded within a steady 30 point range overnight. Early morning saw a 20 point upward move to the 1.9880 levels only to be swiftly rejected, retreating 30 points to the 1.9850 area. Cable now looks set to continue the 30 point range bound trade for the remainder of the morning.

Cable: A lower move is likely to come later this morning, touching the 1.9820 level. US open should see continued Dollar demand taking a further toll on cable. Sub 1.9800 is likely before the close of the London session.
Click to expand...


Addition:

Cable: A quick re-test of the 1.9880 level is possible if a break below 1.9850 is not sustained.


Euro: Update.

With buyers of the Euro waiting in the wings from the 1.3455 levels and above, and a possible Cable re-test of the 1.9880 level, which will have a knock-on affect on the Euro pair and a self perpetuating situation could quickly develop. Giving rise to a considerable rally in both GBP and the Euro. If this proves to be the case then Cable could see 1.9960 and the Euro could be on song well above 1.3500 once again.


Cable: Update

Heavy downward pressure on Cable’s ability to record a high over the last 2 hours or so, may now be pointing to a low of 1.9830 by 12:30. Any breach of the 1.9820 (as above) will certainly see cable wave goodbye and head south.




Cable: Update

A lacklustre morning session has failed to lift cable. Touching 1.9840 in slow trade. Further downward pressure now seems to be the way forward, with more gusto and greater momentum. Sub 1.9800 levels seen from 1.9850..
 
-9, now short cable 1.9845, stop 1.9885 for the mo. lets see if this one, gets any further, thought they might of lifted to 1.9860 odd for my short .. but...
 
The Pearl Fisher said:
Addition:

Cable: A quick re-test of the 1.9880 level is possible if a break below 1.9850 is not sustained.


Euro: Update.

With buyers of the Euro waiting in the wings from the 1.3455 levels and above, and a possible Cable re-test of the 1.9880 level, which will have a knock-on affect on the Euro pair and a self perpetuating situation could quickly develop. Giving rise to a considerable rally in both GBP and the Euro. If this proves to be the case then Cable could see 1.9960 and the Euro could be on song well above 1.3500 once again.


Cable: Update

Heavy downward pressure on Cable’s ability to record a high over the last 2 hours or so, may now be pointing to a low of 1.9830 by 12:30. Any breach of the 1.9820 (as above) will certainly see cable wave goodbye and head south.




Cable: Update

A lacklustre morning session has failed to lift cable. Touching 1.9840 in slow trade. Further downward pressure now seems to be the way forward, with more gusto and greater momentum. Sub 1.9800 levels seen from 1.9850..
Click to expand...



I think if another new strong set of housing figures come out this certainly will be the case.

All down to 3pm.

I reckon given strong new home sales - existing home sales likely to go same way :rolleyes:

Short from 1.9849... SL @ 1.9872

Target @ 1.9820 ish.

Think 1.98 will hold...
 
+1 Muppet, still need to be long, :) long 1.9844 stop back down. 1.9818. crikey.

gonna break higher i think.

edit, got a couple of lines on my charts, thought they had crossed at 1 pm, they havent, they touched. hence me selling short and looking at afterwards and thinking muppet, still hold long, hence reverse.
 
Last edited:
The Pearl Fisher said:
Cable traded within a steady 30 point range overnight. Early morning saw a 20 point upward move to the 1.9880 levels only to be swiftly rejected, retreating 30 points to the 1.9850 area. Cable now looks set to continue the 30 point range bound trade for the remainder of the morning.

Cable: A lower move is likely to come later this morning, touching the 1.9820 level. US open should see continued Dollar demand taking a further toll on cable. Sub 1.9800 is likely before the close of the London session.
Click to expand...


Addition:

Cable: A quick re-test of the 1.9880 level is possible if a break below 1.9850 is not sustained.


Euro: Update.

With buyers of the Euro waiting in the wings from the 1.3455 levels and above, and a possible Cable re-test of the 1.9880 level, which will have a knock-on affect on the Euro pair and a self perpetuating situation could quickly develop. Giving rise to a considerable rally in both GBP and the Euro. If this proves to be the case then Cable could see 1.9960 and the Euro could be on song well above 1.3500 once again.


Cable: Update

Heavy downward pressure on Cable’s ability to record a high over the last 2 hours or so, may now be pointing to a low of 1.9830 by 12:30. Any breach of the 1.9820 (as above) will certainly see cable wave goodbye and head south.




Cable: Update

A lacklustre morning session has failed to lift cable. Touching 1.9840 in slow trade. Further downward pressure now seems to be the way forward, with more gusto and greater momentum. Sub 1.9800 levels seen from 1.9850..


Euro: Update

The euro has seen some demand but has failed to impress. Buyers queued from the 1.3455 area are beginning to evaporate and further buying from this level is fading. Pressure from a heavy GBP is weighing on the pair also. Levels of sub 1.3400 are now eyed.
 
What im looking at is an attempt to lift prices between 1.9860/80, I'll consider a short there unless its sustained upside through 80. Lots to do from here at 40 but thats why im long. Still a bit of a ball bag this market though :)
 
zuke said:
I dont think Ill be trading Cable until I see a clean break (an hourly close) above 1.99 or below 1.98.

Added to my Shorts on GBP/CAD and closed out my Dow trade for +30. The CAd trade will decide whether my Bank Holiday is spent in the Cotswolds or Colchester!
Click to expand...

Well it looks like it's Champagne in the Cotswolds for me! Closed out my GBP/CAd trade for 127 pips!
 
smbtnt said:
Nice one zuke! Do you prefer the minors to the majors?
Click to expand...

I do actually. I find they SEEM to trend more and are easier to follow the price action. Cable is the only major I trade. I generally trade GBP/CAD, GBP/CHF, GBP/JPY, and the NOK, MXN, HUF & PLN pairs.

It seems to work for me, particularly intra-day.
 
The Pearl Fisher said:
Cable traded within a steady 30 point range overnight. Early morning saw a 20 point upward move to the 1.9880 levels only to be swiftly rejected, retreating 30 points to the 1.9850 area. Cable now looks set to continue the 30 point range bound trade for the remainder of the morning.

Cable: A lower move is likely to come later this morning, touching the 1.9820 level. US open should see continued Dollar demand taking a further toll on cable. Sub 1.9800 is likely before the close of the London session.
Click to expand...


Addition:

Cable: A quick re-test of the 1.9880 level is possible if a break below 1.9850 is not sustained.


Euro: Update.

With buyers of the Euro waiting in the wings from the 1.3455 levels and above, and a possible Cable re-test of the 1.9880 level, which will have a knock-on affect on the Euro pair and a self perpetuating situation could quickly develop. Giving rise to a considerable rally in both GBP and the Euro. If this proves to be the case then Cable could see 1.9960 and the Euro could be on song well above 1.3500 once again.


Cable: Update

Heavy downward pressure on Cable’s ability to record a high over the last 2 hours or so, may now be pointing to a low of 1.9830 by 12:30. Any breach of the 1.9820 (as above) will certainly see cable wave goodbye and head south.




Cable: Update

A lacklustre morning session has failed to lift cable. Touching 1.9840 in slow trade. Further downward pressure now seems to be the way forward, with more gusto and greater momentum. Sub 1.9800 levels seen from 1.9850..


Euro: Update

The euro has seen some demand but has failed to impress. Buyers queued from the 1.3455 area are beginning to evaporate and further buying from this level is fading. Pressure from a heavy GBP is weighing on the pair also. Levels sub 1.3400 are eyed.





25 May 2007 15:39: update

US home sales data has little impact on both pairs. A stalemate situation is developing as Euro sellers accumulate above 1.3470. Light trade also impacts the two as we head for the week’s close. Weakness points to ranging with some downside.
 
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