Is cable in for a trouncing?

[MickMason]

Seeing as how the guy's been banned for 10 days I've edited my post!

[skseows]

Hi Mike,

Thanks for the idea, will do that and pls review it if it helps to make you money.

God bless, Sk.

[Jaymanicus]

Originally Posted by skseows

Until Thur's ECB and BOE meeting:

1. Sell Eur/USD cos' its trending
2. sell EUR/GBP, cos the correction is coming to an end at current level 0.6770 level and in conjunction with GBP/USD near 1.7500 psychological level.
3. sell AUD/NZD at current level 1.1040, top end of trading range

Looking for divergence in GBP within the next few days.......for a bounce to sell again near 1.78-1.79.

Last week, I registered my trading system at
www.collective2.com/go/steadyincomeproducer
Check it out for on-going money-making advice.

This is the most gutless advice I've ever seen. I mean, "Look for divergence in GBP within the next few days"??? Geeze man, who do you think you're going to impress? After such a strong move, it's almost a 90% chance there will be divergence at some point as the indicators unwind. And by the way, how about a time frame? No, of course not. That would be too specific. And even then, this is an extremely risky strategy to trade by in current market conditions. You should take up astrology or palm reading. Your skills for stating the obvious are much more appreciated and much better remunerated, besides!

No thanks. I'd rather read the analysis from the Financial Times and the Wall Street Journal, and then make my own decisions...although I'm a trader, so I don't give a darn one way or the other what the analysts say. Price will do as price does.

Bah humbug.

[psytrader]

LOL

Price is going to go up,... or price is going to go down,...but not until it moves

LOL

collective2 here I come BABY!!!!

ehhem,...whew...

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PSY

[MickMason]

My prediction for today is Sell high, Buy low, or Buy low and Sell high.

Full no-quibble money-back guarantee!


Mick

[MickMason]

Time to buy maybe? Is 1.75 a bottom for 1.77 with a stop at 1.7475? How about Eur/Usd, a buy at 1.1850 for 1.20?

Time will tell.....


Mick

[Jaymanicus]

Originally Posted by MickMason

Time to buy maybe? Is 1.75 a bottom for 1.77 with a stop at 1.7475? How about Eur/Usd, a buy at 1.1850 for 1.20?

Time will tell.....


Mick

Mick, I'm thinking time will tell before you blow your account by trying to pick bottoms before they've formed.

I'm short both Cable (the break of 1.7570 at 1.7567, targeting 1.7355) and Euro (the break of 1.1970 at 1.1967, targeting 1.1810). I'm adjusting as I go. I've taken two positions off the Cable trade for roughly half of current profits and one position off of the Euro trade at current price (1.1870).

Good luck...if you get this one right, you should expect major players to short the rallies on both, given the fundamentals lining up this week.

GT,

JRS

[MickMason]

Originally Posted by Jaymanicus

Mick, I'm thinking time will tell before you blow your account by trying to pick bottoms before they've formed.

I'm short both Cable (the break of 1.7570 at 1.7567, targeting 1.7355) and Euro (the break of 1.1970 at 1.1967, targeting 1.1810). I'm adjusting as I go. I've taken two positions off the Cable trade for roughly half of current profits and one position off of the Euro trade at current price (1.1870).

Good luck...if you get this one right, you should expect major players to short the rallies on both, given the fundamentals lining up this week.

GT,

JRS

Ahh, that's the difference between us, there is absolutely no chance of me 'blowing my account' and I'll tell you why.....

Yesterday at 06:09 when price was at 1.7620 I suggested a retracement up to 1.7670 or maybe mid 1.77's and then a fall to 1.75. A couple of hours later the price was 1.7660. Due to the US holiday volume was thin, we had to wait until this morning for the predicted 1.75, that's 160pips. My thinking now is that we need a bit of correction before further downside, I mentioned that yesterday as well, so a long from 1.75 with a stop at 1.7475 for mid 1.77 is an excellent risk, the trade is actually 35pips in profit right now so there is absolutely no risk, the worst that can happen is break even. But so what if it had broken below 1.75 and stopped out for a 25pip loss, deduct it from the 160pip profit!

This game is all about taking a calculated and justifiable risk which has a comparable reward.


Mick