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Short cable at 8747

ditto @ 44

Morning, thanks for the mail Mos.

np seymore wont overegg the pudding just a few bits and bob`s
out @24

You guys have got rocks in your head if you think that you're going to successfully trade cable in Asian time. That's just not the way that it works.

TODAY'S HEDGE FUND STRATEGY
Monday, January 17, 2005 6:14 GMT
Daily Report
By Teamforex
http://www.teamforex.com


STRATEGY
Such a lot has happened since my last update in December. We have seen the dollar falling to new lows against the majors, followed by a sudden and dramatic reversal in very quick time indeed. These volatile swings will no doubt have hurt those traders who frantically boarded the North-bound Euro, Sterling and Aussie trains very late in the game.

However, the clearing out of weak and late hands was important, and (for now) the trend to dollar weakness remains intact. This month, the euro should hold above 1.3000, possibly 1.2850, and cable should try to base above 1.8400 1.8600.

There will no doubt be a bit of thrashing around at these levels and the strong, linear trend of the last few months of 2004 will probably not re-occur for a few months. Expect more of a ranging pattern, with good opportunities to trade from the outsides of the ranges aiming inwards.

The message is simple look to buy majors on good dips. On Monday I will be eyeing euro (closer to 1.3000 though), cable and eur/jpy for long positions, but will keep stops and position sizes small, being prepared to re-buy lower down if the first trades fail.

seems cable range looking like 00/50 early doors..

hilary thanks for your input,no one is suggesting we trade cable in asian time, merely adding content to the thread..afterall fx is a 24 hr market,and having traded fx for over 15 years ive got a fairly good feel for what is going on,i for one and its only personnel choice start my day @ 6am and like trading the asain europe hand over.......

this thread is all about opnions ,and seeing as you feel you are such a guru
why dont you share your thoughts with us..

mos

Signed up to fxstreet.com at the weekend (free), ticked the boxes for lots of news reports from different institutions. This morning I have 30 so far in my mail box so I will have to sort the good from the bad. Good to see that most are supporting my USD/JPY short that is about +28 at the mo.

Had 2 open triggers set overnight - one to sell at 739 the other to buy at 666. I'm with the 739 sell which triggered around 07:00 on that spike. I've now removed my buy trigger but may set a limit around 600 - which would be a nice start to the week.

MG have you contacted Scrip yet re golf? Have closed my cable short and waiting to see how strong support is at 8710.

Bobcolby. I see you closed your cable short seconds before it dipped down... glad to see I'm not the only one who does that!

Maggot. I have a knack for this sort of thing. just gone long at 93, but ready to reverse trade if drop continues.

mostrader,

If you'd bothered to read the posts, you'd have realised that trading during Asian hours is exactly what a couple of posters were proposing. With your 15 years experience, I'm sure you'd have learned that the vast majority of the Cable money changes hands between 7am and 2pm London time and the market seldom moves anywhere during Asian hours.

Bob
Not yet - one of my "Things To Do" ;)

hils , iam not getting into a slanging match yep we are all aware of that,but if you scroll back we are talking about the asian/europe handover,i.e 6am cet to london open....stick up a chart and see what movements we have. most days but not all big ben chart movements.....
but once again thks for your input.....
i would value it as would many other posters on this thread,which if we are both honest tends to die most days by 9am,but now a few more people are dipping there toes in and would probably value a constructive statement/comment from you thats all.

DAILY SIGNALS ON MAJORS
Monday, January 17, 2005 8:01 GMT
Daily Report.
By Forex Capital.
http://www.fx-capital.com


Daily Trading Strategy

EUR/USD
Action: Buy AT: 1.3390
Stop/Reverse: 1.3050 Target: 1.3170

Support: 1.3100, 1.3075, 1.3030
Resistance: 1.3120, 1.3170, 1.3200

GBP/USD
Action: Buy AT: 1.8700
Stop/Reverse: 1.8660 Target: 1.8800

Support: 1.8700, 1.8655, 1.8610
Resistance: 1.8750, 1.8820, 1.8850

USD/JPY
Action: Sell Dollar AT: 102.20
Stop/Reverse: 102.50 Target: 101.60

Support: 101.80, 101.25, 101.00
Resistance: 102.35, 102.80, 103.20

USD/CHF
Action: Sell Dollar At: 1.1815
Stop/Reverse: 1.1850 Target: 1.1740

Support: 1.1790, 1.1710, 1.1670
Resistance: 1.1840, 1.1885, 1.1920

Each to their own mos - some people post a lot, others don't care to. That's just how it is.

Moved my stop to breakeven and opened a Buy To Open @ 600. We'll see, although I kinda feel we may have a rather boring day with the US on their hols.

mostrader,

I'm not into slanging matches either and I agree that the moves between 7am and 8am can be lucrative. As I read it though, at least one poster was interested in trading around 11pm UK time .... not a brilliant idea imo.

Going back to the handover, most banks won't allow their rookie traders to enter the market before 8am so, given the exceptionally low margin requirements to trade Cable, I personally don't think it's too good an idea to encourage players who have only just started looking at FX to enter the market at it's most dangerous time.

well said hils,,good valid point..... just trying to get diff views on this thread and we have started to get that a lot more posters,iam aware you started the thread.and it would be a shame to let it disapear which it does most days..
am iam being sincere thks for the post....