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Cable Update (GBPUSD)

  • #12,261
  • May 8, 2007 9:42am May 8, 2007 9:42am
Quoting froland
If Cable brks the support @1.9912 it will go down to 1.9882
I print it and put it on the monitor !!
  • #12,262
  • May 8, 2007 9:44am May 8, 2007 9:44am
Quoting Pipbyta
They're paniced because they are all long cable right now have no margin!
Come on, let's not make it harder for those who were long. They are in trouble as is right now. I hope they did not go all the way and already executing their contengency plans right now.
  • #12,263
  • May 8, 2007 9:44am May 8, 2007 9:44am
How much lower will cable go today?
  • #12,264
  • May 8, 2007 9:47am May 8, 2007 9:47am
Not everyone posting has been longing!

I think 2 or 3 have been shorting cable and have had some bashing for saying so.

Key level in Euro area is 1.3520, proper breach of this will also see cable falling again. DOW also has seen a fall today maybe some profit taking ahead of interest rate announcements?
  • #12,265
  • May 8, 2007 9:53am May 8, 2007 9:53am
as a daytrader i can buy cable today and short it tomorrow it doesn't make any diference to me
  • #12,266
  • May 8, 2007 9:54am May 8, 2007 9:54am
well, i'm still in the bullish mode. last week friday will be my sl for my buy positions... really arrogant word u have there ashlee... everybody made mistakes..
  • #12,267
  • May 8, 2007 9:55am May 8, 2007 9:55am
What you think living in the US ?
Any chance the Fed will raise interest? Your inflation is above 3,3 .
Unchanged is my prediction but I am very far away from fresh news :-)
There are no certainties only oppurtunities.
  • #12,268
  • May 8, 2007 9:56am May 8, 2007 9:56am
morning all,

thank god that sell orders got filled before my buy orders. been doing a bit of automated trading since i'm in the process of redoing my kitchen. euro sold at 3675 just closed at 3625, cable sold at 9955, closed at 9900.

will wait to add trades though.
  • #12,269
  • May 8, 2007 9:58am May 8, 2007 9:58am
Quoting 1st_lane
well, i'm still in the bullish mode. last week friday will be my sl for my buy positions... really arrogant word u have there ashlee... everybody made mistakes..
I don't mean to be arrogant. I had a legitimate question. I was planning to buy cable on dips but I wanted to ask for guidance before I do it. I guess I was misunderstood. Well... I am still thinking of buying cable but a bit hesitant.
  • #12,270
  • May 8, 2007 10:01am May 8, 2007 10:01am
never trade based on what you read on foruns! If foruns influence your trading stop reading them!

Get a trading method and stick to it!
  • #12,271
  • May 8, 2007 10:05am May 8, 2007 10:05am
Quoting ashlee_17
I don't mean to be arrogant. I had a legitimate question. I was planning to buy cable on dips but I wanted to ask for guidance before I do it. I guess I was misunderstood. Well... I am still thinking of buying cable but a bit hesitant.
maybe i misundertood ur statement... sorry... but the dips, really deep happens on friday, think many trader has jumped there, i see smjones has jumped at 9860(around).. by reading his post .. nyway i still buy...
  • #12,272
  • May 8, 2007 10:13am May 8, 2007 10:13am
I am still a buyer but I am not sure if we have hit bottom yet on this leg down.
  • #12,273
  • May 8, 2007 10:19am May 8, 2007 10:19am
Quoting ashlee_17
Why isn't anyone buying cable on dips???
2 out of 3 are now open on the dips here. And there's another Buy Limit in the distance just in case.
Do not focus on making money; focus on protecting what you have.
  • #12,274
  • May 8, 2007 10:22am May 8, 2007 10:22am
Quoting pwegner
I am still a buyer but I am not sure if we have hit bottom yet on this leg down.
maybe camisa would have something to comment bout your statement..
  • #12,275
  • May 8, 2007 10:34am May 8, 2007 10:34am
Quoting 1st_lane
maybe camisa would have something to comment bout your statement..

I do have a method. I should of said that I was waiting for the 30m candle to close. I went long at 1.9905
  • #12,276
  • May 8, 2007 10:34am May 8, 2007 10:34am
Quoting 1st_lane
maybe camisa would have something to comment bout your statement..
?

I'm short at 9958 with a profit target of 100 pips but if it isn't reached I will close my position as always at 22:00 London time and wait for another signal for tomorrow

I always use a stop loss of 50 pips and a profit target of 100 pips for my positions on cable and always close them manually by 22:00 London time if they haven't reached any of that targets

I don't try to guess bottoms or tops or anything, I just wait for my trading system to issue a buy or sell signal
  • #12,277
  • May 8, 2007 10:41am May 8, 2007 10:41am
Im not in trouble yet. Im loosing 10 pips i confess, but in my mind, i just hope that the ppl doing this, learn and pay a very expensive lesson in the end of the week, about this insane selling. I just cant believe how can be possible to see this kind of despise about fundamentals, and i serious doubt that are banks and inteligent money doing it.

I know that i must respect the pure technical traders but.... its almost impossible to ignore what happened last week and what will happen later this week.

Strong economy/Huge Inflation Vs Weakening Economy/Moderating Inflation

Sell Pound? jeez. Why. Please. Open a Thread and write slowly the reason that tells you to "click on the sell button".

Reasons like......... "well i throwed a dart at my chart with my eyes closed and voila, it gave me a target, its working for now, im better continue"..

...are welcome to understand what its happening this days.

What the hell are you doing?

But ok... keep selling, because a line in the chart tells you to do it.

Just dont hit my stop until i get home to wide it.
  • #12,278
  • May 8, 2007 10:42am May 8, 2007 10:42am
Quoting camisa
?

I'm short at 9958 with a profit target of 100 pips but if it isn't reached I will close my position as always at 22:00 London time and wait for another signal for tomorrow

I always use a stop loss of 50 pips and a profit target of 100 pips for my positions on cable and always close them manually by 22:00 London time if they haven't reached any of that targets

I don't try to guess bottoms or tops or anything, I just wait for my trading system to issue a buy or sell signal
Do you mind sharing what criteria you use in your trading system that shows your buy or sell signals.
  • #12,279
  • May 8, 2007 10:50am May 8, 2007 10:50am
Cable continues to look heavy and corrective as price action
breaks below the 5-day moving average, which has now confirmed the
dead-cross with the 21-day moving average. Moreover, the daily
slow-stochastic study is firmly in sell-mode and as yet well above
oversold levels. Break below $1.9890 favours move to $1.9845.
  • #12,280
  • May 8, 2007 10:52am May 8, 2007 10:52am
Quoting Warper
II just cant believe how can be possible to see this kind of despise about fundamentals,
Warper, I already told this here in the thread: fundamentals can be wrong for an eternity! Only reality is always right!

For a daytrader like me how can I care about inflaction, interest rates etc.? I just trade the charts, the time frame one uses to trade is very important here as different time frames must take into account diferent aspects of trading

one person here said very surprised last week: "what? how can you say that? the trend is up!"

he forgot that there is a trend for each time frame!

As for my trading system i'm sorry but I won't disclose it, probably nobody could trade it anyway, a trading system must reflect our personality so it's a very personal thing

EDIT: one thing I can tell you: it's a very complicated system, I couldn't find any KISS system that suited my style of trading
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