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Cable Update (GBPUSD)

  • #21
  • Nov 20, 2006 7:30pm Nov 20, 2006 7:30pm
I can hear Asia whisper at me.. LOL



Quoting ghitz
so far, 8990 contained attempt up. lets see if asia has something to say.
"Invest With The Insiders, Not The Masses" George Muzea
  • #22
  • Nov 20, 2006 7:43pm Nov 20, 2006 7:43pm
I assume Duke of Dents was joking, and isn't holding GBP/USD long actually anti american and sadly Pro British ??

The problem with that logic is, they both suck sadly, UK's just the 53rd state after all


Held Short pretty much all day for 9pips 24hour and 12hour uptrends still, breaks below 1.8960 and climbing area, then it'll tank and I'll short.

Takes out 1.9000 then I'll jump in long

blinked and missed that Blip


EUR failed to break over 24hour SMA and heading down again, while these 2 differ the moves are generally limited.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #23
  • Nov 20, 2006 8:19pm Nov 20, 2006 8:19pm
I believe that GU wont be able to get above 1.9 before testing atleast 1.87xx

Thats what my charts seem to say. I am holding a short started at 1.8967.
I am going to be looking to sell all major bull moves.

Neo
  • #24
  • Nov 20, 2006 8:48pm Nov 20, 2006 8:48pm
No i don't think so. GU will go up and will reverse tommorow or on wednesday.
Ok, what ever it is, we will see.. and goodluck.


Quoting neo1599
I believe that GU wont be able to get above 1.9 before testing atleast 1.87xx

Thats what my charts seem to say. I am holding a short started at 1.8967.
I am going to be looking to sell all major bull moves.

Neo
Yacob I dive the market without Fear.
  • #25
  • Nov 21, 2006 3:30am Nov 21, 2006 3:30am
Trying to predict long term to me is gambling, no way to predict just react to what is happening live.


Atleast the moment, wish I could make money from a sideways position



Still slight uptrend here, well over 24hour SMA vaguely so means hold Long to me, Eur starting to follow suite.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #26
  • Nov 21, 2006 3:32am Nov 21, 2006 3:32am
I think this week is very slow moving for gbp/usd because of US public holiday.. but i still go long until the price hit my TP @ 1.9030
"Invest With The Insiders, Not The Masses" George Muzea
  • #27
  • Nov 21, 2006 8:24am Nov 21, 2006 8:24am
Stupidly slow isn't it, keeps bouncing off the 24hour SMA. Eur still Downtrending so no ones got a clue direction wise yet.

Ohhh well next rich next week
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #28
  • Nov 21, 2006 9:27am Nov 21, 2006 9:27am
Tempted to go Long here, reason being Eur in a uptrend price area, could create GPB buying.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #29
  • Nov 21, 2006 10:06am Nov 21, 2006 10:06am
Took eerrrrr 1 pip from that trade, looked possibly for abit, but no it's just dead this week.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #30
  • Nov 21, 2006 12:28pm Nov 21, 2006 12:28pm
Whats the deal?! Cable is just stalling out, I entered a Long trade last night thinking it would go up at least a little, but nothing. Anyone know what exactly Cable is waiting on?
I be pip'n!
  • #31
  • Nov 21, 2006 12:35pm Nov 21, 2006 12:35pm
liquidity is think right now due to the holidays coming up next fundamental data is coming out tommorrow morning, this is gonna be choppy range bound trading unless and until something big happens most large players and hedge funds are not activley taking on positions right now... not to say that we cant get some movement but the probabilites are low... holiday time is usually low volume the market usually takes off after the holiday, where are u long cable from?
  • #32
  • Nov 21, 2006 12:41pm Nov 21, 2006 12:41pm
Lack of volatility, holiday markets reinforce tight ranges in the week ahead. So I bet everyone is just out of the market and seeking a directional movement. It's directionless until now so far. Nobody wants to lose in this Zig-Zag..
Forex is not easy!
  • #33
  • Nov 21, 2006 12:45pm Nov 21, 2006 12:45pm
Quoting Jimbezy
Whats the deal?! Cable is just stalling out, I entered a Long trade last night thinking it would go up at least a little, but nothing. Anyone know what exactly Cable is waiting on?
Thanksgiving.
  • #34
  • Nov 21, 2006 12:54pm Nov 21, 2006 12:54pm
lol
  • #35
  • Nov 21, 2006 1:07pm Nov 21, 2006 1:07pm
LOL!!


1 pip is better than a loss, i missed my limits on my demo trade, so i may be tempted by one pip, just to keep my trading record
if it goes back down, target eur/usd 1.2810, gbp/usd 1.8970 for one pip

though they both went well into profit 10 pips each i would call that a success for a newbie in this market, thanks, thanksgiving! bored!
  • #36
  • Nov 21, 2006 1:10pm Nov 21, 2006 1:10pm
It is easy to trade GBP this way...

15 minute chart... just trade between the bollinger bands...

made lots of pips the last couple of days just doing that !!
  • #37
  • Nov 21, 2006 2:31pm Nov 21, 2006 2:31pm
Quoting Tiki Trader
It is easy to trade GBP this way...

15 minute chart... just trade between the bollinger bands...

made lots of pips the last couple of days just doing that !!
Hi..
What parameters do u use on bollinger bands?

Thanks..
  • #38
  • Nov 21, 2006 3:30pm Nov 21, 2006 3:30pm
my live trading plan for this week is not to trade live, the week and the charts didnt fit my trading strategy. So i decided to demo trade and practice trading during low volumes and quiet times, just getting a few pips here and there, very short term trades

i placed a short for the eur/usd @ 1.2820 and gbp/usd @ 1.2980

they both went into profit, but decided there was a good chance they would continue and would close when the eur/usd was close to 1.2800, obviously i misread the signals, can you guys give me some guidance on my mistake or what signal i missed in the charts please.
  • #39
  • Nov 21, 2006 3:36pm Nov 21, 2006 3:36pm
U didnt do anthing wrong its just the current price action thats not good, u did the right thing in not trading live this week, this would have saved me as well, the euro is range bound a good place to short it is near resistance up at 2840 to 2850 after that 2880 with stops above 2900, they key is u want price to really work its ass off to prove u wrong, for example anyone with a stop within the range is pretty much dead unless they take quick profit im more of a swing trader and i thrive on 300 or 400 point moves i havent developed a model yet to trade ranges and insane choppy volitility..
  • #40
  • Nov 21, 2006 6:29pm Nov 21, 2006 6:29pm
Guess I shoulda been buying bounces off the 5min 288SMA ( 24hour ) line, but 15 - 20 pips after spread really isn't what I'm after, mainly a keep holding too long waiting for something big to develop.


When is Thanksgiving Day exactly ??

GBP and EUR both in very mild uptrend, but not taking a position over night here.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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