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Cable Update (GBPUSD)

  • #76,941
  • Jul 22, 2008 8:05pm Jul 22, 2008 8:05pm
i think the good buying area 9897/9850 tp 20071/20132
let see.........
  • #76,942
  • Jul 22, 2008 8:05pm Jul 22, 2008 8:05pm
I totally agree with it as oil is in loss for almost 3-5 days so it is the time for oil to rebound up to 135+. MPC meeting minutes is expected as 8-1 hold if it comes as 9-0 which I doubted, would be very bullish for Cable but I think if it comes even with 8-1 hold would be still bullish.

I have two lots with long since last Tuesday at 2.0040 and my PT level missed three times so far, first time I had a PT level 2.0135 and it reached up to 2.01 and second time my PT level was 2.0090 and it reached up to 2.0070, Third time last night my PT level was 2.0075 (in FXCM) and the FXCM platform reached up to 2.0073.

It seems like I became bull right now based on the above situation going on with my one account. So cable hasn't bull yet but I became very bullish right now.

Any way I am confident that Cable might retest 2.01 soon again this week either tonight or tomorrow night. But I am not confident enough with Retail Sales for tomorrow night so it might evenutally have to fall by Thursday or Friday but I prey that Humpty Dumpty will have to sit tight on the wall before falling and King horses will not have to pick him up.

Alqaz.
  • #76,943
  • Jul 22, 2008 8:10pm Jul 22, 2008 8:10pm
Anyone else adding longs around here. Still in bullish state.
  • #76,944
  • Jul 22, 2008 8:26pm Jul 22, 2008 8:26pm
Quoting MackS10
Anyone else adding longs around here. Still in bullish state.
My long orders start @ 9850 ....
Patience + Discipline - Greed = Success
  • #76,945
  • Jul 22, 2008 8:41pm Jul 22, 2008 8:41pm
Have longs from 1.9922.

Hope to close it above 2.

See ya.
  • #76,946
  • Jul 22, 2008 9:44pm Jul 22, 2008 9:44pm
Quoting uncleforex
Have longs from 1.9922.

Hope to close it above 2.

See ya.
Hi guys,

Is there any way which we can check out oil prices?
May the pips be with me !!!
  • #76,947
  • Jul 22, 2008 9:59pm Jul 22, 2008 9:59pm
Quoting eohater
....We should go back up and retest 1.994x if we break here, next area to break through will be 1.998x or we'll be going down to 1.985x and heading back north.
My short was triggered at 1.9945. Locked in pips and I'm targeting 1.9860. If this area holds around 1.985x holds, I'll be going long.

We'll see how it plays out. Good luck trading everyone!
Just digging in the trenches like everyone else!
  • #76,948
  • Jul 22, 2008 9:59pm Jul 22, 2008 9:59pm
Quoting ahlude
Hi guys,

Is there any way which we can check out oil prices?
bloomberg has it posted on the front page.
  • #76,949
  • Jul 22, 2008 10:38pm Jul 22, 2008 10:38pm
Quoting eohater
My short was triggered at 1.9945. Locked in pips and I'm targeting 1.9860. If this area holds around 1.985x holds, I'll be going long.

We'll see how it plays out. Good luck trading everyone!
ok then, my short was just closed out with 5 pips of profit. hmm.. waiting til this candle closes before my next entry. this m.f. is going to break out
Just digging in the trenches like everyone else!
  • #76,950
  • Jul 22, 2008 11:01pm Jul 22, 2008 11:01pm
does anyone has the guidelines to follow that must be included when writing a trade plan?

Thank You
  • #76,951
  • Jul 22, 2008 11:06pm Jul 22, 2008 11:06pm
Quoting Manny
bloomberg has it posted on the front page.
If you don't trade futures then just download the free MT4 platform from ODL and you can watch oil prices on their terminal live.
  • #76,952
  • Jul 22, 2008 11:16pm Jul 22, 2008 11:16pm
hey.... all positions closed.......... looking for re-entry long
  • #76,953
  • Jul 22, 2008 11:52pm Jul 22, 2008 11:52pm
Quoting DJ4x
hey.... all positions closed.......... looking for re-entry long
How do you know it is gona be up bro?
  • #76,954
  • Jul 23, 2008 12:00am Jul 23, 2008 12:00am
Quoting Angelina
How do you know it is gona be up bro?
I don't know, but according to my chart it is playing around the median. Doesn't make sense to short at these levels.
  • #76,955
  • Jul 23, 2008 12:18am Jul 23, 2008 12:18am
Quoting DJ4x
I don't know, but according to my chart it is playing around the median. Doesn't make sense to short at these levels.

I just added your Skype if you can talk to me at skype
cya
  • #76,956
  • Jul 23, 2008 1:23am Jul 23, 2008 1:23am
good morning every budy..

have anice day full of pips ...
  • #76,957
  • Jul 23, 2008 1:52am Jul 23, 2008 1:52am
I am currently short since the previous candle low broke...if support hold and brakes the previous candles high I will close and reverse my trade tight base my trade on price action....

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  • #76,958
  • Jul 23, 2008 1:59am Jul 23, 2008 1:59am
i agree with your short term 'short' as cable should touch the lower lines before going up again, but cable been having very wide ranges and big retractments

Quoting Shermenator
I am currently short since the previous candle low broke...if support hold and brakes the previous candles high I will close and reverse my trade tight base my trade on price action....

Attachment
  • #76,959
  • Jul 23, 2008 2:10am Jul 23, 2008 2:10am
Quoting adrianebn
i agree with your short term 'short' as cable should touch the lower lines before going up again, but cable been having very wide ranges and big retractments
yep that is happening because alot of stop losses are being hit. that is how the big boys make money. if nobody loses, nobody wins and so the range will be very tight. when its a wide range it means some people win alot and the others lose alot... that is why you cant actually trade forex with big boys and that is why the only way to play forex with big boys is to gamble without stop losses with money management... otherwise you have to be smart and get a way around this (like me) lol
When life gives you lemons, make lemonade
  • #76,960
  • Jul 23, 2008 2:12am Jul 23, 2008 2:12am
how u manage to get around this micho?

Quoting micho
yep that is happening because alot of stop losses are being hit. that is how the big boys make money. if nobody loses, nobody wins and so the range will be very tight. when its a wide range it means some people win alot and the others lose alot... that is why you cant actually trade forex with big boys and that is why the only way to play forex with big boys is to gamble without stop losses with money management... otherwise you have to be smart and get a way around this (like me) lol
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