Cable Update (GBPUSD) | Page 1670 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #33,381
  • Oct 1, 2007 2:56am Oct 1, 2007 2:56am
Quote
start from now on I will never let my itchy hand click buy or sell

MAN, do u believe in that ? I always mess up too ROFL
Hello World!
  • #33,382
  • Oct 1, 2007 2:59am Oct 1, 2007 2:59am
GBP/JPY & EUR/JPY going Up

GBP/USD & EUR/USD going down.

what's going on?
I'm just moving clouds today - tomorrow I'll try mountains.
  • #33,383
  • Oct 1, 2007 3:06am Oct 1, 2007 3:06am
Actually, if you are adept with your signals...there is nothing wrong to short. Just practice cutting loss quickly when you are wrong and avoid holding on to it.

Hey even when you are in the right trend, you can go wrong with you entries...its abt plan and action.
  • #33,384
  • Oct 1, 2007 3:10am Oct 1, 2007 3:10am
2.0450.... hmmm is it a good price to buy on dip... like NOW??? Arghhh.... I'll wait some more... News coming up.
Made In Malaysia
  • #33,385
  • Oct 1, 2007 3:11am Oct 1, 2007 3:11am
Quote
Just practice cutting loss quickly when you are wrong and avoid holding on to it.

yea, not to dig the pit deeper we are in
Hello World!
  • #33,386
  • Oct 1, 2007 3:13am Oct 1, 2007 3:13am
Quoting awsl
GBP/JPY & EUR/JPY going Up

GBP/USD & EUR/USD going down.

what's going on?
This is not strange at all. As you will learn with time, GBPJPY is correlated strongly with USDJPY and GBPUSD, but more with the former than the latter, because they both reflect the supply/demand for yen in major currencies. Currently the dollar is gaining some strength and rising, hence cable falling, but the dollar is gaining against the yen more than the pound. Overall effect is a fall in the demand for yen against the pound. Same story for Euro.

It is much better to long/short yen crosses when the components move in the same direction, which is why it is tricky to trade the dragon (GBPJPY).
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #33,387
  • Oct 1, 2007 3:18am Oct 1, 2007 3:18am
Not so certain about cable movement for today. So me just sit back and watch probably it will go bearish or sideways, as it was been overbought last Friday. As for the important data today….craplah, market tend to be volatile even before the official release of the data.

Ajaran sifu Dullah Kaling: Ride the trend, don’t go against it.
  • #33,388
  • Oct 1, 2007 3:20am Oct 1, 2007 3:20am
Quoting ClockTrader
MAN, do u believe in that ? I always mess up too ROFL
Me too..
I think looking for retracement is ok.. as long as we wait for confirmation.. and put tight SL.. the problem is.. we tend to jump start ahead and got burned..
  • #33,389
  • Oct 1, 2007 3:24am Oct 1, 2007 3:24am
i think that GU is retracing a bit on wave 4 and will proceed with wave 5 later on... so we might see 2.06++ or 2.07++ or even 2.09++ soon
  • #33,390
  • Oct 1, 2007 3:26am Oct 1, 2007 3:26am
Quoting dd33
Me too..
I think looking for retracement is ok.. as long as we wait for confirmation.. and put tight SL.. the problem is.. we tend to jump start ahead and got burned..
actually this is what i can suggest...if you guys are scalpining it...the PA in the 1min bars already showed a contrasting double top @ 2.0490

action : test 1 lot first...

the following pa then did a swing and failed @ 2.0470 area.

action : test another lot

price keeps going further down, by now you are alread 2 lots full in profit, even if you go big, your drawdown is already covered by you 'test' winnings.

Always test the PA with small lots so that you can get a feel of the price movements.

regards
jest
  • #33,391
  • Oct 1, 2007 3:26am Oct 1, 2007 3:26am
Quote
i think that GU is retracing a bit on wave 4 and will proceed with wave 5 later on... so we might see 2.06++ or 2.07++ or even 2.09++ soon

SO who is going the other way ?
Hello World!
  • #33,392
  • Oct 1, 2007 3:33am Oct 1, 2007 3:33am
I am showing negative MACD divergance on the 15m, 30m and 1hr chart. I shorted at 2.0470 and am working the retracement. Took profit on 80% of my position at 2.0434
  • #33,393
  • Oct 1, 2007 3:38am Oct 1, 2007 3:38am
Bro Shamx7

Me understand how you feel bro...as for me i'm sick and tired doing hedge cause it's killing our equity. As for me bro i just cut the losers and let the profit run. Don't worry if you loose your trade today...there will be always tomorrow.

Today's mistake is for our future strategy.

Good luck bro.
  • #33,394
  • Oct 1, 2007 3:40am Oct 1, 2007 3:40am
Quoting soros_junior
i think that GU is retracing a bit on wave 4 and will proceed with wave 5 later on... so we might see 2.06++ or 2.07++ or even 2.09++ soon
Wow.. Soros_Jr now already learn the word "retracement".. normally he called a minor retracement as a trend reversal.. and aim far2 away..
  • #33,395
  • Oct 1, 2007 3:42am Oct 1, 2007 3:42am
What to do? In my locking position... stuck. Now I can juz sit back and watch. What goes up must comes down. Waiting for the cable to shoot higher than 2.0500. Then upon confirmation of reversal.... then only i can possibly UNLOCK.

Should have leave my unlock position earlier on floating. Why did I bought it back to Lock..... WHYYYYYYYY????
Made In Malaysia
  • #33,396
  • Oct 1, 2007 3:47am Oct 1, 2007 3:47am
Quoting Jenglotz
Bro Shamx7

Me understand how you feel bro...as for me i'm sick and tired doing hedge cause it's killing our equity. As for me bro i just cut the losers and let the profit run. Don't worry if you loose your trade today...there will be always tomorrow.

Today's mistake is for our future strategy.

Good luck bro.
Treat our mistake as a learning process
"Invest With The Insiders, Not The Masses" George Muzea
  • #33,397
  • Oct 1, 2007 3:48am Oct 1, 2007 3:48am
Terima Kasih Jenglotz... Good advise. Hedging strategy definitely not for me. Back to old fassion... cut the loss quickly
Made In Malaysia
  • #33,398
  • Oct 1, 2007 3:49am Oct 1, 2007 3:49am
Quoting ClockTrader
SO who is going the other way ?
The chinese prime minister
.
  • #33,399
  • Oct 1, 2007 3:53am Oct 1, 2007 3:53am
Good to long now??? My hand is itching again : Holding firmly to the mouse.
Made In Malaysia
  • #33,400
  • Oct 1, 2007 3:59am Oct 1, 2007 3:59am
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Quoting Shamx77
Good to long now??? My hand is itching again : Holding firmly to the mouse.
Don't buy too soon... Monday is supposed to be a dull day..

"If, at first, you don't succeed, try, try, try again" - Winston Churchill
351 traders viewing now, 2 are registered:
Bnhassn
,