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Cable Update (GBPUSD)

  • #19,881
  • Jul 19, 2007 3:36am Jul 19, 2007 3:36am
Quoting krishna
i m still confident,for my prediction n as i say that time will be my witness,
also everyone says that this is fx market,
but i called this is stop hitting market,or liquidating ur positions market,
where ever u wil keep a stop 95 % it gets hitted,or wil liquidate or position,

i have my very bad personal experience,where i was needing to put more money every day/week n month,finally i covered my all losses,
becasue alltime market was in liquiting my position,
but finally i didn;t gave a chance,

rgds
lord of fx"
I also do a lot better without tight stop losses....they always get hit -right on the nose ! how do they know where my stop loss is ? it's uncanny - then it rebounds right back to where it was - so now I have huge stop losses just to make sure they dont take my house - and it works a lot better... I spend more time getting my entry points right and I dont follow sudden surges up or down - thats suicide as you are usually too late

Cable on the cusp ? economic logic says that the runaway US deficits are going to drive cable up to 2.10 easily... but we know that the market is irrational in the short term at least and we know the tides of trading ebb and flow - so i am taking extreme care at this point with my trading while still buying parcels of GBP for my USD bank account...
  • #19,882
  • Jul 19, 2007 3:36am Jul 19, 2007 3:36am
Quoting MPP
How bad, I've moved SL to lock in profit, should i close longs now, only looking for reasons to hold or cut. have still to learn how news affects movement, especially as nothing has changed over last few days

cheers
I don't trade news nor care about the news, I'm just bored at the moment with nothing to do
Trade what you see, not what you think.
  • #19,883
  • Jul 19, 2007 3:37am Jul 19, 2007 3:37am
Retail sales number came out a little worse than expected, but the reaction is very minor so far, if 550 holds for today, we might see a correction, most likely a mild one...
  • #19,884
  • Jul 19, 2007 3:38am Jul 19, 2007 3:38am
Where are you Soros Junior??

We didn't see 2.0600s yesterday.

And now we are goin to say byebye to 2.0500s and welcome 2.0400s....so where have u dissappeared??
  • #19,885
  • Jul 19, 2007 3:40am Jul 19, 2007 3:40am
Quoting ndvt241
Earning index low, retail sale low, housing datas are weak > Cable is going down

This is a VERY GOOD news for GU in negative zone down to 2.0000 in short/medium term. Means, there would not be any more INTEREST RATE hike!
  • #19,886
  • Jul 19, 2007 3:40am Jul 19, 2007 3:40am
Any thoughts on re-trace from negative GBP retail news ?
  • #19,887
  • Jul 19, 2007 3:41am Jul 19, 2007 3:41am
Quoting henrycarol
Where are you Soros Junior??

We didn't see 2.0600s yesterday.

And now we are goin to say byebye to 2.0500s and welcome 2.0400s....so where have u dissappeared??
looks like only a minor correction to me... no matter how bad gbp news are, cable is still moving up due to terrible weakness of usd
  • #19,888
  • Jul 19, 2007 3:43am Jul 19, 2007 3:43am
Quoting soros_junior
looks like only a minor correction to me... no matter how bad gbp news are, cable is still moving up due to terrible weakness of usd
Soros .. look at the news for USD from the last week and you'll see that all they are GOOD for USD
  • #19,889
  • Jul 19, 2007 3:43am Jul 19, 2007 3:43am
I will go short if it closes below 2.0470... I have a major support there... and my short term uptrend line would be broken at that level as well. and than I would take profit at 2.0370 or wait even further...

anyone already shorted?
  • #19,890
  • Jul 19, 2007 3:44am Jul 19, 2007 3:44am
Quoting soros_junior
looks like only a minor correction to me... no matter how bad gbp news are, cable is still moving up due to terrible weakness of usd
Tell me more pls?

Maybe it goes down to below 2.0300s...then you will stop calling it to go up?

LOL.
  • #19,891
  • Jul 19, 2007 3:45am Jul 19, 2007 3:45am
Quoting Alfa159
I will go short if it closes below 2.0470... I have a major support there... and my short term uptrend line would be broken at that level as well. and than I would take profit at 2.0370 or wait even further...

anyone already shorted?
Short at 2.0525
  • #19,892
  • Jul 19, 2007 3:45am Jul 19, 2007 3:45am
Quoting zamans98
This is a VERY GOOD news for GU in negative zone down to 2.0000 in short/medium term. Means, there would not be any more INTEREST RATE hike!
That is right, Not before the end of the year
  • #19,893
  • Jul 19, 2007 3:46am Jul 19, 2007 3:46am
Shorted at 505, TP 490 x 10 lots, SL 515
  • #19,894
  • Jul 19, 2007 3:47am Jul 19, 2007 3:47am
Quoting zamans98
This is a VERY GOOD news for GU in negative zone down to 2.0000 in short/medium term. Means, there would not be any more INTEREST RATE hike!
Yes we will possibly see a correction, but not that drastic, at least not yet, too early, current top is not yet confirmed
  • #19,895
  • Jul 19, 2007 3:48am Jul 19, 2007 3:48am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
only been trading for six months, but, correct me if i wrong.

trends may go long or short, but are made up of wave formations with highs and lows. the larger the time frame the larger the wave pattern.

therefore we are all correct, I say short today, long tommorow (tomorrow being any day after today)

karmostaji, i am bored to.
  • #19,896
  • Jul 19, 2007 3:49am Jul 19, 2007 3:49am
Quoting zamans98
This is a VERY GOOD news for GU in negative zone down to 2.0000 in short/medium term. Means, there would not be any more INTEREST RATE hike!
That is true.. however USD also still got beaten in the a$$.. USD index still showing no signs of strengthen. So the correction on cable might not as "big" as going down to 2.0 (not to mention "magic number" 9773)
  • #19,897
  • Jul 19, 2007 3:50am Jul 19, 2007 3:50am
Quoting gene22
Yes we will possibly see a correction, but not that drastic, at least not yet, too early, current top is not yet confirmed
who can confirmed CURRENT TOP? LOL
The answer is OBVIOUS, NOONE!

When cable was trading @ 2.0130 3 months back, I got the same question...
Then then climbing the ladder down slowly...
  • #19,898
  • Jul 19, 2007 3:52am Jul 19, 2007 3:52am
Quoting dd33
That is true.. however USD also still got beaten in the a$$.. USD index still showing no signs of strengthen. So the correction on cable might not as "big" as going down to 2.0 (not to mention "magic number" 9773)
agreed, unless USDI improve to 85's zone, we will be seeing 1.99xx but till then, still 2.xxx
  • #19,899
  • Jul 19, 2007 3:52am Jul 19, 2007 3:52am
Quoting zamans98
Shorted at 505, TP 490 x 10 lots, SL 515
Next point is 465
  • #19,900
  • Jul 19, 2007 3:53am Jul 19, 2007 3:53am
Quoting zamans98
who can confirmed CURRENT TOP? LOL
The answer is OBVIOUS, NOONE!

When cable was trading @ 2.0130 3 months back, I got the same question...
Then then climbing the ladder down slowly...
The current wave structure and price action do not indicate a top has been formed for a sustained correction
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