nice Dazza
Where's our thread on that one;)
Slam
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nice Dazza
Where's our thread on that one;)
Slam
Dazza
I presume you are refering to S&P/ASX 200 Energy (^AXEJ). How are you shorting that index?
arco
yes i am arco
though its not fx, shall we create a thread here?
i use cmc for that arco, 1% margin, though quite big volatility and also spreads
still cant complain when ive made nearly 700 pips in 2 days?
though ive made heaps of mistakes ><
stopped out at 1.7694
+74
a nasty little downdraft occurred right in front of me !
cant complain at this stage tho.
Peat
Well done taking a profit. GBP has to come to terms with a possible change of direction.
Dazza
Yes, start a thread, and also tell us where you get your chart from as it doesnt appear in the list from my data supplier.
arco
peat incidently i shorted the GBP at 7687
limit 20 pips though c if i can make $20 be4 i sleep
dammmm hahah - absolute confirmation of your view now arco
this reversal looks very similar to Jul reversals to me.... viewing daily graphs eg
might wait for some pullback now tho before considering reentry....
and arco I didnt take that profit - it took me heheh
well last nites action confirms a theory that an economic statistic (it was some UK manufacturing report released last nite that made cable fall) will of course affect the price action but mostly doesnt affect the overall trend.
i was spouting that to myself , but unfortunately didnt act on it.
Morning All
Still long, raised stops to .7648
Will pick up more on a dip if there is one
First target 1.78ish, 38.2 fib and just above Aug 31 low
Cheers
Slam
[GBP/USD] continues to prove a difficult play against the Usd with the Pound independently weak, this reflected in the rally for Eur/Gbp. The cross has now broken cleanly above the 200 day moving average at 0.6850 amidst heavy UK fund demand, and a likely 0.6900 extension should build upon demand from the markets more short term focused speculators. Mixed data with the tame 0.3% GDP forecast from NIESR, (slowest since May), balanced to a degree by a more healthy sales report from John Lewis. However, the general signs from recent UK data imply a greater chance of a BOE rate cut again. Thus we have seen the bias to sell Gbp strength persist, the sharp stop fuelled drop from 1.7760 to 1.7710 since Europe's arrival underlining the danger of speculative Cable longs.
Major Gann support at 7578.
Just trying a wee long at 7584.
arco
This trade could perhaps be classed as an example of a B2 reversal as mentioned in "Methods of a Wall Street Master" by Vic Sperandeo.
Ticking away nicely + 27
Gann co-ordinates above at 7822 and 8066
http://www.khalsaspad.com/files/101005_b2_661.gif
arco
On the right track Arco?
Which do you prefer?
http://img443.imageshack.us/img443/7...rtleys17pd.png
Xerof
snared some cable at 1.7527 overnite, right in the apex of the chart displayed above. Stop now at breakeven, as not entirely confident about this.
Major Gann must be lurking somewhere around the 1.7530 level eh Arco?
Hi Xerof.
I was stopped out - 29. [V] Now I wish I had taken the 30 pips there was available before I retired to bed. Anyway, can't win them all.
Gann is at 7578 and there could be another B2 happening at the moment.
arco