FX 2007 > Week 19 -23 Mar

[29Investments]

I make 613 61% fib retrace.

I think price will touch MA-55 and turn on 3 min charts. Roughly same region as 61% fib retrace.

If that level and 615 is breached I'll change my short view.

Agreed - I had 618 retrace at 614 and have shorted from 608

 

[tallpaul]

Anyone in on GBP/JPY?
I'm going long from 231 breakout

 

[rav700]

Long or short..................Talking about women doing your head in this dont know wether to go up or down.....
What is it waiting for now.......................

 

[Priceman]

If it goes past 28 then I'll maybe go long again upto 80....

 

[rav700]

I guess now its waiting for fomc......................................Fundamentals so are we saying that their will be no action....till 6:30 today..........

 

[rav700]

I think Dc's 671 is on the cards .......so i am going to go long as with a tight stop @ 595

 

[rav700]

Just about to go long at it has fallen back to 05 ...........

 

[Priceman]

Ok I'm online, shame I'm already way behind. Sorry Rav I'm going to fade you if it falls past 00 then I'll go short... if not I'll join ya in the long

 

[Atilla]

Long or short..................Talking about women doing your head in this dont know wether to go up or down.....
What is it waiting for now.......................

Drilling in from Weekly, daily, hourly to min charts it looks like cable might have topped around the 1.9670s area.

It does still seem sprightly at the mo. I'm still short from 596.

I think it's still testing fib 61% retrace.

I think the worry now is that the Fed has no chance of raising rates. Be like suicide to the housing subprime lending market. Or should I say execution. And so traders see $ weakness.
But there is always the hawkish talk on inflation so peoples fear is usually worse than reality.

Looking at gold though it's still rising$662 (inflationary expectations), oil is still at $60 (inflationary pressure) and SPX 1410 (no bounce left in the markets) . So I don't think it's looking good for the $.

Fundamentals are bullish for cable in my view which goes against my TA. I really feel uncomfortable with my position when TA charts and FA analysis don't compliment each other. Zaps my conviction.

 

[Atilla]

Just about to go long at it has fallen back to 05 ...........

On the hourly charts we made a lower high with price having crossed MAs and MACD with Stochy heading down.

If 590 is breached the drop will be setup imo.

 

[rav700]

I think this going all the way up to 671

 

[rav700]

There seems to be to many bullish peep....Only Dc can clear the myth right now.....................

 

[Priceman]

Haven't took the short yet I want to see real movement... It's gone back into yesterday pm's range again and will probably stay there until US news... I'd like to say I still favour the upside but indicators are indicators and my thinking only gets me into trouble :cheesy:

 

[Atilla]

Haven't took the short yet I want to see real movement... It's gone back into yesterday pm's range again and will probably stay there until US news... I'd like to say I still favour the upside but indicators are indicators and my thinking only gets me into trouble :cheesy:

I hear you Priceman,

My head says bullish but going by my charts at the mo and doing alright shorting. I'm being driven by my MAs.

Target is still 555 so far.

 

[rav700]

Long @ 85 stop @ 45....

 

[dc2000]

I now have a long and short position long will turn at 671 short at 524

 

[rav700]

I think this one should be a good one anyone else here to fade me joke.....
Best of luck price man

 

[rav700]

I have move my stop loss to b\e never know with cable today....

 

[Atilla]

I have move my stop loss to b\e never know with cable today....

I was thinking of scrapping my targets and using trailing SL too.

590 is breached. Lets see it cave in now...

 

[Crap Buddist]

I got a sell signal, on that mark up to 650, so will be holding short from here. 618, (I wasnt arond for 630-650 odd, we might get a better entry, re entry , but im in already....