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:: Cable (GBPUSD) Trend Trading ::

  • #161
  • May 3, 2007 12:56am May 3, 2007 12:56am
I'm in long at 904 with a tp of 921. Should make that before your shorts kick in?
Gone to a better place
  • #162
  • May 3, 2007 1:06am May 3, 2007 1:06am
Quoting smikester
I'm in long at 904 with a tp of 921. Should make that before your shorts kick in?
You're right. SL?
Do not focus on making money; focus on protecting what you have.
  • #163
  • May 3, 2007 1:07am May 3, 2007 1:07am
Quoting smikester
I'm in long at 904 with a tp of 921. Should make that before your shorts kick in?
Nice one, first mop´s on you!
Trading Levels with WRBs
  • #164
  • May 3, 2007 1:09am May 3, 2007 1:09am
As I said, somewhere, earlier, trading this pair can be like holding a firework and wondering whether it's still lit. The sl had to be moved to accommodate that spike down, which wasn't expecting...
Gone to a better place
  • #165
  • May 3, 2007 1:10am May 3, 2007 1:10am
Quoting Islander
Nice one, first mop´s on you!
I actually need a new mop. Perhaps smikester should set up the SMF - the Smikester Mop Fund?
Do not focus on making money; focus on protecting what you have.
  • #166
  • May 3, 2007 1:17am May 3, 2007 1:17am
Quoting Why Oh Why
1.9925 SL 1.9995 TP 1.9835. Last 1.9904.

The US payrolls on Friday may be the catalyst needed to see a larger directional move. The services PMI is out in 3 hours for the UK today. Services are around 80% of the UK economy, so this indicator does have some importance. It may come out lower and, as long as the order above opens before it does, then that'll help it along the way. The cause for concern is if it comes out higher.

In 7 hours the US ISM Non-Manufacturing index hits. ISM Non-Manufacturing is generally a dog, but it can move, and sometimes move big, if the price action warrants it and the deviation is big enough.
Sounds as though you know some stuff. I think I might be better off closing any positions before these. Don't want the mop fund to suffer.
Gone to a better place
  • #167
  • May 3, 2007 1:18am May 3, 2007 1:18am
Quoting Why Oh Why
1.9925 SL 1.9995 TP 1.9835. Last 1.9904.
But hasn't yet. May I apply for a grant from the SMF smikester?

I'm out for breakfast now so have a great day everyone. See you after.
Do not focus on making money; focus on protecting what you have.
  • #168
  • May 3, 2007 1:19am May 3, 2007 1:19am
Sold a 2 lot at 9920, will sell another at 30 if we get there.

Proceeds to help me dry out from the bath I took yesterday.
Trading Levels with WRBs
  • #169
  • May 3, 2007 2:53am May 3, 2007 2:53am
Quoting Why Oh Why
1.9925 SL 1.9995 TP 1.9835. Last 1.9904.
Last 1.9928. A better entry may have been 1.9938 but I was concerned it would not open. We'll see. If it goes through 1.9948 then my SL may be hit. But it should bang against its former rising trend line.

There is limited downside short term and I remain bullish.

http://www.tradingcentral.com/chart/...0503074153.GIF

Do not focus on making money; focus on protecting what you have.
  • #170
  • May 3, 2007 3:36am May 3, 2007 3:36am
Quoting Why Oh Why
The services PMI is out in 3 hours for the UK today. Services are around 80% of the UK economy, so this indicator does have some importance. It may come out lower and, as long as the order above opens before it does, then that'll help it along the way. The cause for concern is if it comes out higher.
The consesus was it would be the same. But the .4 lower won't help my current trade much but it won't be hindered either by this number. Last 1.9932.
Do not focus on making money; focus on protecting what you have.
  • #171
  • May 3, 2007 3:42am May 3, 2007 3:42am
Quoting Why Oh Why
The consesus was it would be the same. But the .4 lower won't help my current trade much but it won't be hindered either by this number. Last 1.9932.
Last 1.9920.
Do not focus on making money; focus on protecting what you have.
  • #172
  • May 3, 2007 3:44am May 3, 2007 3:44am
UK services PMI in line with expectations, so no effect on mkt.

I dont like the way the 5 min 200 ema has now turned up and acted as support in the last spike down at 2:55 NY time, so I have not added to my 2 lot short and may close these for a small profit. I also have some resistance around the 9935 area which was support for a time yesterday.
Trading Levels with WRBs
  • #173
  • May 3, 2007 4:24am May 3, 2007 4:24am
Quoting Islander
UK services PMI in line with expectations, so no effect on mkt.

I dont like the way the 5 min 200 ema has now turned up and acted as support in the last spike down at 2:55 NY time, so I have not added to my 2 lot short and may close these for a small profit. I also have some resistance around the 9935 area which was support for a time yesterday.
Until it's a bad trade. Last 9939 so not looking good ATM. If it continues through I may be stuffed.
Do not focus on making money; focus on protecting what you have.
  • #174
  • May 3, 2007 4:27am May 3, 2007 4:27am
Quoting Why Oh Why
Last 1.9928. A better entry may have been 1.9938 but I was concerned it would not open. We'll see. If it goes through 1.9948 then my SL may be hit. But it should bang against its former rising trend line.

There is limited downside short term and I remain bullish.
It would take a brave man to add short now. But I'm tempted.
Do not focus on making money; focus on protecting what you have.
  • #175
  • May 3, 2007 4:39am May 3, 2007 4:39am
Show us you got the heart of William Wallace hehe
  • #176
  • May 3, 2007 4:57am May 3, 2007 4:57am
Quoting Francois
Show us you got the heart of William Wallace hehe
Ahh... but I'm English, he was Scottish. Let's hope I'm not hung, drawn and quartered on this one. It's back to break even. And pity I wasn't brave enough to go in again.
Do not focus on making money; focus on protecting what you have.
  • #177
  • May 3, 2007 5:05am May 3, 2007 5:05am
Quoting Why Oh Why
But it should bang against its former rising trend line. There is limited downside short term and I remain bullish.
It did bang against its former rising trend line & the 30-min RSI is capped by a declining trend line now. 5 short still outstanding.

Catch you all later gents. I'll be back after lunch. Do your best Forex Gods. I have faith. I need it when I go short.
Do not focus on making money; focus on protecting what you have.
  • #178
  • May 3, 2007 7:53am May 3, 2007 7:53am
your 9938 entry would have been near perfect. Hindsight can be so handy. But I am rejoicing. We are in profit territory!!!
  • #179
  • May 3, 2007 7:56am May 3, 2007 7:56am
Better than expected Non Farm Production data - 1.7 vs 1.0% - gave it a nice kick down and enabled me to exit with a small profit - I´m now flat.

Given the slightly positive bias this morning, I´m not certain that it will fall much more before the ISM data at 10 est. I´ll wait for the data before considering another trade.
Trading Levels with WRBs
  • #180
  • May 3, 2007 8:02am May 3, 2007 8:02am
Quoting Why Oh Why
1.9925 SL 1.9995 TP 1.9835. Last 1.9904.
Exited 2 lots for 40 pips. 3 short remain.
Do not focus on making money; focus on protecting what you have.
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