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Cable Update (GBPUSD)

  • #31,301
  • Sep 18, 2007 12:13pm Sep 18, 2007 12:13pm
Quote
Clock:
100 pips movement for cable is not a small profit by any means. If you take a look from Euro or London session to early US session, cable usually gave you more or less 100 pips. But if you want to stay w/ the trend longer, use trailing stop which i use sometimes.


ok, you can call me a jerk after taking a look at this photo, but I think its coming down, I'm not doing BE OR SL, prefer not to share what I wana do, coz even I don't know yet. Hope the pic fits right unlike that of Ronald.

Attached Image (click to enlarge)
Click to Enlarge Name: Cable-18-Sep.JPG Size: 30 KB
Hello World!
  • #31,302
  • Sep 18, 2007 12:14pm Sep 18, 2007 12:14pm
Quote
Thanks for the idea, I'll make 10% donation of any profit I make in forex (trade by trade, not accumulated)
Thanks again for this idea

Hello World!
  • #31,303
  • Sep 18, 2007 12:15pm Sep 18, 2007 12:15pm
So, were all sitting around like a pack of hungry wolves ready to eat,
I've been waiting all day and I am hungry. Hurry up damm it.
Just Trade It
  • #31,304
  • Sep 18, 2007 12:21pm Sep 18, 2007 12:21pm
Quoting Big Wave Rider
So, were all sitting around like a pack of hungry wolves ready to eat,
I've been waiting all day and I am hungry. Hurry up damm it.
LOL... same here...

Auf auf... AAAAUUUUUUUUUUHUHHH
  • #31,305
  • Sep 18, 2007 12:25pm Sep 18, 2007 12:25pm
I placed another short @ 1.9995 with SL @ 2.0000 as well
  • #31,306
  • Sep 18, 2007 12:27pm Sep 18, 2007 12:27pm
Quoting pino2
I placed another short @ 1.9995 with SL @ 2.0000 as well
damn it.. ain't got the time to answer...

0007 is a fibo and 0026 the last short term resistance...
  • #31,307
  • Sep 18, 2007 12:27pm Sep 18, 2007 12:27pm
My 2 short trades hit SL with loss -32 pips
  • #31,308
  • Sep 18, 2007 12:30pm Sep 18, 2007 12:30pm
Quoting pino2
My 2 short trades hit SL with loss -32 pips
Looks like the market will get into position for the expected outcome: a cut. If such, first minute reaction is dollar down... Question is if it's going to sustain after the first minute panic...

And this is what panicks me. Those giant whipsaws we saw in August here...
  • #31,309
  • Sep 18, 2007 12:33pm Sep 18, 2007 12:33pm
Quoting cesarnc
Looks like the market will get into position for the expected outcome: a cut. If such, first minute reaction is dollar down... Question is if it's going to sustain after the first minute panic...

And this is what panicks me. Those giant whipsaws we saw in August here...
The cable cut from my account 32 pips
  • #31,310
  • Sep 18, 2007 12:35pm Sep 18, 2007 12:35pm
Make sure to check your spreads, those greedy brokers like oanda will probly push it to a 20 pip spread
Just Trade It
  • #31,311
  • Sep 18, 2007 12:36pm Sep 18, 2007 12:36pm
Quoting SunTrader
A correction is only a pause in a trend. I follow EW too but would never consider myself a elliottician if it considered anything to do with Robert Prechter. The man who called for a Dow top back about 20 years ago. The inventor of the "X" wave and many others "alternative counts".

"When the count doesn't fit we'll make it fit" - yeah thats it.

The world economies will determine whether commodities have seen their highs in the end, not a wave count.

But since this is the cable thread I won't be posting anymore gold talk even if this is somewhat related to currencies.
Well technically he was not wrong, just that people were not willing to read about it more. And yeah about his whatever service is pretty biased and they tend to just force fit everything. I dont follow them but I make my own counts and have been good with them so far.
  • #31,312
  • Sep 18, 2007 12:37pm Sep 18, 2007 12:37pm
Quoting pino2
The cable cut from my account 32 pips
You've made 968 pips then
.
  • #31,313
  • Sep 18, 2007 12:38pm Sep 18, 2007 12:38pm
Quoting Big Wave Rider
Make sure to check your spreads, those greedy brokers like oanda will probly push it to a 20 pip spread
greedy brokers vs greedy traders
it's the world we live in
  • #31,314
  • Sep 18, 2007 12:40pm Sep 18, 2007 12:40pm
For the records,

EURGBP is putting a pin-bar in the daily. Closes at 0GMT here. If confirmed, entry tomorrow would be 10 pips below today's low, SL 10 pips above today's high.

I'll be watching and will take this trade. Good target is the trendline in the weekly that was broken previously.

A bouce off this trendline would then be a nice long to catch.... But I don't know whether or not EURGBP will go on trending like it's doing lately.
  • #31,315
  • Sep 18, 2007 12:40pm Sep 18, 2007 12:40pm
I went short again @ 2.0020 Sl 2.0045 (2 lots)
  • #31,316
  • Sep 18, 2007 12:42pm Sep 18, 2007 12:42pm
GBPJPY reaches it's 61.8 fib retrace of the last drop soon. Also a bollinger channel thingie going on there if you believe in hourly randomness. Meanwhile, I am completely clueless regarding EURUSD and GBPUSD. cesar please tell me you're clueless too (when we're clueless together it's usually a good thing)
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #31,317
  • Sep 18, 2007 12:45pm Sep 18, 2007 12:45pm
Quoting ClockTrader
ok, you can call me a jerk after taking a look at this photo, but I think its coming down, I'm not doing BE OR SL, prefer not to share what I wana do, coz even I don't know yet. Hope the pic fits right unlike that of Ronald.

80-90 pips profit a day is good enough for me since I don't add positions like you did, but use trailing stops and candlestick patterns. Sometimes I could be out early, but each trader has his own preferred styles so stick to whatever works best for you.
  • #31,318
  • Sep 18, 2007 12:48pm Sep 18, 2007 12:48pm
Quoting Plutonite
GBPJPY reaches it's 61.8 fib retrace of the last drop soon. Also a bollinger channel thingie going on there if you believe in hourly randomness. Meanwhile, I am completely clueless regarding EURUSD and GBPUSD. cesar please tell me you're clueless too (when we're clueless together it's usually a good thing)
I'm clueless, too

There's no way to be sure of anything right now.

This move in the currencies are people getting into position, inline with the expected outcome. This could turnaround fast depending on the actual outcome.

And also, be aware that it is the STATEMENT that will matter here. So the definite direction is likely to appear like 15-30minutes after the release, including the sharp turnaround scenario.
  • #31,319
  • Sep 18, 2007 12:49pm Sep 18, 2007 12:49pm
Closing all my open positions within the next 15 mins. I am almost sure we will see a whipsaw with the fed rate - and i'd rather not lose any money than make some and lose it later. There are just way too many opinions (on the same fed action) even with the bigger banks - that cannot be goo dfor us retail traders.

Current positions
Long AUD
Long Gold
Long EUR
Long JPY

Short GBP - the only one in loss

\ no more trades for the day - will be here - but not trading.
  • #31,320
  • Sep 18, 2007 12:55pm Sep 18, 2007 12:55pm
We are getting there....pack !!!!!!!!!!!!
Attached Image (click to enlarge)
Click to Enlarge Name: BENpack.jpg Size: 184 KB
For he that would be deceived, let him.
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