Busy Day Tomorrow

[milliard]

That's fair enough. If something feels right & you can claw a buck out of it then that's gotta be a positive yeah?

If it aint broke, then it don't need fixing

Right, we're about 5 hours late out of the door today, so I'll bid you adios & we're off in search of strong beer & even stronger women!!

Enjoy your weekend.

[torero]

I like that line! have a good weekend!

I think I'm liking GBPCHF more and more, rides like a wild buck but it can be nicely rewarding. Now I have 4 favorite pairs, GBPUSD, GBPJPY, EURJPY and GBPCHF. I think it's more than enough to keep my eyes busy.

[Sledge]

	Quote:	milliard
	That's fair enough. If something feels right & you can claw a buck out of it then that's gotta be a positive yeah? If it aint broke, then it don't need fixing Right, we're about 5 hours late out of the door today, so I'll bid you adios & we're off in search of strong beer & even stronger women!! Enjoy your weekend.

You do the same! Good luck with that strong woman!

[milliard]

	Quote:	Art Krantz
	The range tiers have certainly worked through the rolling year with easy access markers. Looks like it’s setting up for a fire fight back at the big daddy 1.94 zone. Those closing daily lower tops don’t make for a good smoke signal at all. Best get your Bull armour out & clean her down Andre, you ole boys might be in for a skirmish or two at the next full moon!!

Hope you’re still positioned to the short side Mr Sledge?

Prices flopping into Krantzy’s lower tier (from post #8) which should now act as a soft ceiling if we get a healthy close into the lower sixes down here.

Counter bids unusually light at the 650-80 huh Annie Oakley? Those pirates talk a lot of shit at times.

(weak) Russian lethargy if you ask me, that + EU/GB hot thru .8025

See how much reliance on that the Pound bears are likely to stomach.

Time to get your 1.94 calling cards located children, playtime is looming!

[Anna-Maria]

This zone (600-50) should put up the last real defense Andre. T'was a continuation step back in Feb & no doubt houses Option traffic.

Would prefer a close beneath the round number to be honest, but any weak pop back towards the 680 will attract sellers if it's genuine.

What's a few pips between pirates

[torero]

I have short on for GBPCHF, anyone has any close support other than 1.9620?

Today has been very tight despite the important news coming out. Is there any reason for this action?

[milliard]

Next area of interest we got resides a figure further down the ladder torero.

9510-30 has vibrated (ahead of 1.94) all the way back to early Jan.

Not sure what you mean by 'tight'? It's (Cable) only 30 odd pips shy of it's avg daily range. If you're referring to the general scenario out there, then I guess some of that reluctance will be down to fresh credit-crunch jitters entering the arena again on the back of the State Street conf call earlier.

Players began booking profits on one or two of the crosses, which blanketed the Euro. Yen crosses especially have been impacted. Still, it'll open up when spec & fast money accounts follow thru on any nervy breakout shifts, such as the one unfolding on Cable.

It will be reserved to specific pairs & dependant on levels.

[cowpip]

	Quote:	torero
	I have short on for GBPCHF, anyone has any close support other than 1.9620? Today has been very tight despite the important news coming out. Is there any reason for this action?

G'day Torero... support on GBPCHF support below 9620 is pretty sparse given it's multi-year lows. I'd start basing my support levels off of daily ranges and pivot-based levels (daily and weekly pivot S/R levels). Otherwise, you have to go WAAAAY back in time to find charts that will give you references to support zones.

I think the more important news (CPI) coming out tomorrow is containing price action today on the yen crosses. I suspect if CPI increases in accordance with consensus, there may be some yen selling going on (if only temporarily). A response similar to what happened with PPI today wouldn't surprise me. But ultimately, unless the Fed starts to talk up the dollar with stiffer hawkishness, I can't see a dollar rally taking away too much from yen strength.

BTW, I won't trade this idea unless the bigger dogs do so first. Have two plans of action, and follow the one that best matches reality. Profitability in this game is all about being a reasonably good (and aggressive) sheep. You want to be as close to the leader sheep as possible. Too close or too far from the leader, and the wolves will gladly pick you off.

[torero]

Apparently my target didn't even make it to 1.9620 before it went the other way and hit my stop. I had a small position on since I saw GBPUSD was not doing much except going the other way, which I didn't like that too much. Thanks, guys.

[milliard]

Apologies torero, I got my ninety sixes all tangled up

Gave you the chatter on the wrong pair..

Yeah, as Cowpip say's the long range defense on that pair is a little sparce. A case of respecting the close quarter levels (hourly & sub hourly reaction lows) if you're intending chasing it back & forth on the lower time frames.