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Cable Update (GBPUSD)

  • #1,081
  • Dec 8, 2006 7:29am Dec 8, 2006 7:29am
Nice little retracement actually...
  • #1,082
  • Dec 8, 2006 7:30am Dec 8, 2006 7:30am
Amateur Queation: bearing in mind the rising trend in the NFE result, why did the cable rise so sharply following the fall?
  • #1,083
  • Dec 8, 2006 7:31am Dec 8, 2006 7:31am
China sell the dollar maybe...



Quoting Tush
Amateur Queation: bearing in mind the rising trend in the NFE result, why did the cable rise so sharply following the fall?
Yacob I dive the market without Fear.
  • #1,084
  • Dec 8, 2006 7:32am Dec 8, 2006 7:32am
profit-takings now
  • #1,085
  • Dec 8, 2006 7:32am Dec 8, 2006 7:32am
Glad to hear most of u having nice profit tdy-tdy im down to my routine LOSSES..
  • #1,086
  • Dec 8, 2006 7:42am Dec 8, 2006 7:42am
Quoting notouch
Calm down people, we still haven't even broken yesterday's high. Still looking bearish to me.
With you on this one of course same on the EUR side. Exited short with profit at 1.3250 and bought it back. Sold @ 1.3355. Now short again @ 1.3353. with a stop@ 1.3383

The spike up could be a delayed exhaustion bar , let's see if it goes down in the next few days. Target 1.3150
  • #1,087
  • Dec 8, 2006 7:53am Dec 8, 2006 7:53am
Quoting Yacob
China sell the dollar maybe...
Thanks very much for your reply.

I stayed out because I had absolutely no idea which way the cable was going to move.

I was going to put a sell and buy stop either side by 30 pips at 1329GMT with stop limits at the 1329 value. But I thought, I'd just watch my first NFE.

However, is there a strategy that one can use to leverage such dramatic movements?
  • #1,088
  • Dec 8, 2006 8:18am Dec 8, 2006 8:18am
Quoting Tush
Thanks very much for your reply.

I stayed out because I had absolutely no idea which way the cable was going to move.

I was going to put a sell and buy stop either side by 30 pips at 1329GMT with stop limits at the 1329 value. But I thought, I'd just watch my first NFE.

However, is there a strategy that one can use to leverage such dramatic movements?
Take care! Lever your chances.....lever your losses just as easily.

Nothing wrong with staying out if you're not sure. Deciding not to take a position is still taking a position....if you see what I mean.

Watch, listen, ask questions, read, don't be in a rush cos Mr Market punishes the ill prepared. When you think you're ready, then paper trade.

You're in the right place, there's some fantastic advice and help here, from genuine people, who have probably forgotten more than I'll ever know about trading. Good luck to you.
  • #1,089
  • Dec 8, 2006 8:52am Dec 8, 2006 8:52am
Wow, what a move... seems fixme1too could be right.
But as I said, not before 16:00 GMT.
  • #1,090
  • Dec 8, 2006 8:53am Dec 8, 2006 8:53am
now it strikes back
  • #1,091
  • Dec 8, 2006 8:58am Dec 8, 2006 8:58am
Quoting Yacob
China sell the dollar maybe...
As you can see, the reason is much more cynical ;-) The big boys have done it again, the trap for the bears was followed by the trap for the bulls!
  • #1,092
  • Dec 8, 2006 9:01am Dec 8, 2006 9:01am
I have never seen a reversal move like after thismuch time has passed. EVER. simply amazing big boy power.
Profit is where readiness meets Opportunity
  • #1,093
  • Dec 8, 2006 9:08am Dec 8, 2006 9:08am
Wow.
Life is too short to have anything but delusional notions about yourself.
  • #1,094
  • Dec 8, 2006 9:10am Dec 8, 2006 9:10am
Quoting jami dodgers
Take care! Lever your chances.....lever your losses just as easily.

Nothing wrong with staying out if you're not sure. Deciding not to take a position is still taking a position....if you see what I mean.

Watch, listen, ask questions, read, don't be in a rush cos Mr Market punishes the ill prepared. When you think you're ready, then paper trade.

You're in the right place, there's some fantastic advice and help here, from genuine people, who have probably forgotten more than I'll ever know about trading. Good luck to you.
Thanks for that advice.

And the cables dropped by 200.

I'm so tempted to go long now. But, my strategy is, if I can't fairly justify the decision, then I'm not opening a position, i.e. I don't gamble.
  • #1,095
  • Dec 8, 2006 9:11am Dec 8, 2006 9:11am
Oh my god, and I had a sell in and closed it at 9646. A little bit more patience and...
  • #1,096
  • Dec 8, 2006 9:14am Dec 8, 2006 9:14am
No a little more elliott wave and you would have stayed in. come to the webinar on sunday.shoot me an Private msg with your email so i can send you and invite



Quoting katzenhai2
Oh my god, and I had a sell in and closed it at 9646. A little bit more patience and...
  • #1,097
  • Dec 8, 2006 9:15am Dec 8, 2006 9:15am
dont go long yet look for at least the 9450's



Quoting Tush
Thanks for that advice.

And the cables dropped by 200.

I'm so tempted to go long now. But, my strategy is, if I can't fairly justify the decision, then I'm not opening a position, i.e. I don't gamble.
  • #1,098
  • Dec 8, 2006 9:16am Dec 8, 2006 9:16am
Quoting FXopportunist
I have never seen a reversal move like after thismuch time has passed. EVER. simply amazing big boy power.
well these are special times though! Spectacular action is to follow, we are on a trend that is seen for a few months only each year, sometimes not appearing for a whole year at all. If I were a very long term player I would just load up my long positions at those 100-200pip dips.
  • #1,099
  • Dec 8, 2006 9:22am Dec 8, 2006 9:22am
big boys don't lose, enough got caught on the upmove that they waited for the chance to push back down to their (my original) profit targets. i called for a giant whipsaw last night but pretty much screwed up the effort today, no help from my damn broker who didn't honor my stop/reverse.. very crazy stuff!! looks like we're back on track for down next week, maybe..
  • #1,100
  • Dec 8, 2006 9:24am Dec 8, 2006 9:24am
Quoting fixme1too
No a little more elliott wave and you would have stayed in. come to the webinar on sunday.shoot me an Private msg with your email so i can send you and invite
I've sent you two PMs in the last two days about your webinar but it seems you haven't received them.
So I will post my email address here: invest05 at gmx.net

I never thought that they would make this move "today", I thought there would be more volatility next week. I trade between 8:00 and 16:00 GMT, best time for GBP/USD.
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