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Cable Update (GBPUSD)

  • #29,181
  • Sep 5, 2007 4:43pm Sep 5, 2007 4:43pm
ok that was one hell of a bullride earlier.....im rally thinking about following the pair down again. 2.0200s seems like a good turnaround point....yesterday i thought the pair would end up today at about 1.9950s or so...

so anyone outthere think the pair could head down anytime soon....or should i hold on wait and see how the chart plays out......

well phuck, it i will enter a small order at .0200 since technically it seems like a turnaround point.....

lets see how it plays out....
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DISCIPLINE IS THE KEY TO SUCCESS!!!:nerd:
  • #29,182
  • Sep 5, 2007 4:52pm Sep 5, 2007 4:52pm
BoE is expected to leave rates unchanged. 3 months sterling rates jumped to an 8.5 year high, raising speculation that the Bank of England may have to inject liquidity into the financial markets if borrowing costs continue to rise.
Twitter: @forexpokerpro
  • #29,183
  • Sep 5, 2007 5:01pm Sep 5, 2007 5:01pm
I'd like to see a bounce off the 50% intraday fib (now at 0140) to refuel the upside. Not that crazy an idea since late Asian session has been a huge carry dumper....

I'll catch up with this market by London only, as to see how it's going to get into position ahead of the statements. After that, NYSE is likely to be an uninspiring session ahead of the big-daddy NFP.

ANd if NFP is going along with ADP (which has been a 50/50 gamble), then Friday will be an interesting day.

************
Stocks closed broadly lower and the Dow saw a triple-digit loss amid mixed signals from the Federal Reserve and weak economic data."I think the market is going through a tremendous amount of uncertainties," said John Manley, private client strategist at Smith Barney. "There's a lot of bipolar risks, we could go one way or the other. People are nervous about that ... more than anything specifically fundamental."
The Fed's Beige Book report said that, outside of real estate, turmoil in the financial markets was having a limited impact on the rest of the economy. The comments were viewed as a mixed message as to whether or not the Fed will cut interest rates on Sept. 18.

Again truck of B.S. from the Fed.... Fed has no idea what's going on for a long time. While Bernanke kept his "inflation a concern", inflation itself is moderate while the subprime monster roars. What was a "rate hike" bias, turned to neutral, to cut, to neutral, etc. Go figure...
  • #29,184
  • Sep 5, 2007 5:03pm Sep 5, 2007 5:03pm
Last but not least, or less important...

WHERE IS BRAVADO?
  • #29,185
  • Sep 5, 2007 5:14pm Sep 5, 2007 5:14pm
Quoting bullrock
You mean 2.0265?
Sorry, 2.0265 is what I meant.
  • #29,186
  • Sep 5, 2007 5:29pm Sep 5, 2007 5:29pm
I closed my long trade @ 2.0200, I prefered to close it before the UK interest rate statement, today I made good profit with my shorts opened @ the bounce off 2.0160 area, and as well with this long trade opened @ the bounce off 2.0042, those were 2 important levels for today, I mentioned about them yesterday, I wished it helped, as long as today was a zigzag day, but it was very clear to me in both trades, one of the best days in trading for me
  • #29,187
  • Sep 5, 2007 5:35pm Sep 5, 2007 5:35pm
Quoting pino2
I closed my long trade @ 2.0200, I prefered to close it before the UK interest rate statement, today I made good profit with my shorts opened @ the bounce off 2.0160 area, and as well with this long trade opened @ the bounce off 2.0042, those were 2 important levels for today, I mentioned about them yesterday, I wished it helped, as long as today was a zigzag day, but it was very clear to me in both trades, one of the best days in trading for me
There ya go... There's always a nice trade to catch after a lousy trade. You did well by not quitting or suspending trades after the lousy week you had



Give up is for losers
  • #29,188
  • Sep 5, 2007 5:51pm Sep 5, 2007 5:51pm
Quoting cesarnc
There ya go... There's always a nice trade to catch after a lousy trade. You did well by not quitting or suspending trades after the lousy week you had



Give up is for losers
yeah, thanks cesar, you know today I recovered my bad loss (-397) that I made last week from the bad shorts I had, and I made +ve figures today more than the -ve one I made last week, although my long trade which I opened yesterday @ 2.0187 was closed @ BE (+1)
Now I can't see any clear view for tomorrow, however 2.0160 is still the star of the week, and it is still taking place in my formula, a break of 2.0094 might bring a new retest to the 2.0042, and on the otherside, 2.0230 must be clearly broken to bring more higher moves, but at the current level, I can't see anything clear, so no trades for now
  • #29,189
  • Sep 5, 2007 5:59pm Sep 5, 2007 5:59pm
Quoting cesarnc
Last but not least, or less important...

WHERE IS BRAVADO?

.
  • #29,190
  • Sep 5, 2007 6:04pm Sep 5, 2007 6:04pm
I 've closed my longs late afternoon, I will reopen them again no matter what.
.
  • #29,191
  • Sep 5, 2007 6:15pm Sep 5, 2007 6:15pm
I'm thinking to play a game now, trying to catch a good price between 230 and 200 and will place a short order with SL @ 230, if it goes down below 200 going to the land of 160, so I will change my SL to BE, if it bounced off, I will close it at good price, and reverse with SL @ 160, that's all I can do now in an unclear day
  • #29,192
  • Sep 5, 2007 6:20pm Sep 5, 2007 6:20pm
Quoting pino2
I'm thinking to play a game now, trying to catch a good price between 230 and 200 and will place a short order with SL @ 230, if it goes down below 200 going to the land of 160, so I will change my SL to BE, if it bounced off, I will close it at good price, and reverse with SL @ 160, that's all I can do now in an unclear day
sounds good... i am doing a similar thing currently...sold GU 0201.. and there is a TP for 165. from there I am returning to long no matter what. sl is at 220 so there i go long no matter what. that is the plan. no matter what. whatever i say.
.
  • #29,193
  • Sep 5, 2007 6:26pm Sep 5, 2007 6:26pm
Quoting bullrock
sounds good... i am doing a similar thing currently...sold GU 0201.. and there is a TP for 165. from there I am returning to long no matter what. sl is at 220 so there i go long no matter what. that is the plan. no matter what. whatever i say.
Great, whatever you say
  • #29,194
  • Sep 5, 2007 6:31pm Sep 5, 2007 6:31pm
I don't know... just not getting back to the triangle and I'm cool. Still holding longs from the buy stops I left before going out, tp partial and SL BE.

With those several days hovering around 00/01, it will be nice to see some nice bull run... I think this is back on the cards since the currencies (FINALLY!) detached from the stock market....
  • #29,195
  • Sep 5, 2007 6:34pm Sep 5, 2007 6:34pm
Quoting cesarnc
I don't know... just not getting back to the triangle and I'm cool. Still holding longs from the buy stops I left before going out, tp partial and SL BE.

With those several days hovering around 00/01, it will be nice to see some nice bull run... I think this is back on the cards since the currencies (FINALLY!) detached from the stock market....
Finally or temporarily
  • #29,196
  • Sep 5, 2007 8:19pm Sep 5, 2007 8:19pm
Short @ 2.0192
TP @ 2.0086
"Invest With The Insiders, Not The Masses" George Muzea
  • #29,197
  • Sep 5, 2007 8:32pm Sep 5, 2007 8:32pm
Quoting cesarnc
it will be nice to see some nice bull run...
It is looooong overdue.............
  • #29,198
  • Sep 5, 2007 9:11pm Sep 5, 2007 9:11pm
this week remind me of last week started out one way ended the other way, lets see where this weeks end up or down
If I Go Broke Trying Then I Will die happy.
  • #29,199
  • Sep 5, 2007 10:02pm Sep 5, 2007 10:02pm
Quote
Successful traders aren't dreamers. They set realistic, attainable and measurable goals.

Successful traders manage their money. They never risk more than 5% of their account balance on any given trade.

Successful traders do not allow themselves to be sidetracked by their emotions. They don't obsess about their losses because they know controlled losses are part of the game. Neither do they get overly excited when a series of trades goes their way.

Successful traders never allow themselves to become complacent. They see learning as an on-going process.

Successful traders are patient. They realize that the big money isn't made in the buying and selling. It's made in the waiting.

I lost ~5% of my equity yesterday, hahaha, thus it proves I'm a successful trader, lolz

never mind, just kidding, but I actually lost, my shorts were looking decent and even SLs were BEs, yet I got mad and raised my SLs, my BAD
Hello World!
  • #29,200
  • Sep 5, 2007 10:05pm Sep 5, 2007 10:05pm
Triangle at 4hr TF
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"Invest With The Insiders, Not The Masses" George Muzea
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