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Cable Update (GBPUSD)

  • #33,561
  • Oct 1, 2007 10:14pm Oct 1, 2007 10:14pm
Quoting mike w
Well It worked out. So why not say it was awesome haha

It was totally awesome, just not skill-related - one day though, one day, I will come here with a real trade, not these 'luck-trades' and everyone will bow to Boho in awe

(hey, I can dream, ok?)
Cable is my sugardaddy
  • #33,562
  • Oct 1, 2007 10:19pm Oct 1, 2007 10:19pm
thanks. i try to keep it as simple as possible.

Quoting Plutonite
Beautiful chart, scrat. Nice to have you back!
Nihil Sine Deo.
  • #33,563
  • Oct 1, 2007 10:26pm Oct 1, 2007 10:26pm
i'm also short from 0475. it's 15 pips below, yes, but it wasn't a lucky choice
and i added more shorts from 0420, 0430 (in this order).

Quoting bohogirl
Well, my Governor is the Terminator, and I'm short from 2.0490 - does that count?
(btw, it was pure luck, my friends, pure luck - I wish I could brag about my 'top' skills, but no, my entry was 'eh, what the hell, lets see if it hits it' stupidity+boredom+luck)
Nihil Sine Deo.
  • #33,564
  • Oct 1, 2007 10:30pm Oct 1, 2007 10:30pm
Quoting bohogirl
It was totally awesome, just not skill-related - one day though, one day, I will come here with a real trade, not these 'luck-trades' and everyone will bow to Boho in awe

(hey, I can dream, ok?)
Wow.. so after Bravado the Forex God is gone.. we will have Boho the Forex Goddess??? KEWL....
  • #33,565
  • Oct 1, 2007 10:39pm Oct 1, 2007 10:39pm
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Quoting Scrat
i'm also short from 0475. it's 15 pips below, yes, but it wasn't a lucky choice and i added more shorts from 0420, 0430 (in this order).
For those holding shorts, be aware it may run down to the 2.0290-2.0240 area if 2.0320 is broken...

"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #33,566
  • Oct 1, 2007 10:41pm Oct 1, 2007 10:41pm
Quoting Scrat
here's the daily chart:
- 1.272 fibo extension from last swing
- OB
- bearish divergence on rsi
entry point for short is at green line, below yesterday's low. SL would be above yesterday's high.

I wouldn't say RSI is diverging just because of equal highs in indicator while price went slightly higher.

But I would agree if monday's low is broken it might be good for a short on a retrace. But the trend is still up so a point to buy on a dip should be around the corner.
  • #33,567
  • Edited 11:12pm Oct 1, 2007 10:53pm | Edited 11:12pm
how about now? i think the big picture is more clearly without all the other lines. price went higher, but not quite slightly: 1.272 slightly (see previous chart ). rsi made lower highs.
just a comment: divergence is not the key here. the key is that we see a possible reversal pattern at 1.272 extension when price is OB. without all these, i wouldn't trade any divergence in the world.
i agree about the buy on dip. but first let's find us in the dip, we'll see then what's coming.

Quoting SunTrader
I wouldn't say RSI is diverging just because of equal highs in indicator while price went slightly higher.

But I would agree if monday's low is broken it might be good for a short on a retrace. But the trend is still up so a point to buy on a dip should be around the corner.
Attached Image (click to enlarge)
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Nihil Sine Deo.
  • #33,568
  • Oct 1, 2007 11:12pm Oct 1, 2007 11:12pm
Good Morning all,

Market seem very weak after the big move last friday. However, im looking cable to move up to 2.0600 to the finishing line.
"Invest With The Insiders, Not The Masses" George Muzea
  • #33,569
  • Oct 1, 2007 11:16pm Oct 1, 2007 11:16pm
Here's my daily with fib zone of 4 levels showing resistance, at least for the moment.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD100207.jpg Size: 48 KB
  • #33,570
  • Oct 1, 2007 11:43pm Oct 1, 2007 11:43pm
Quoting Scrat
i'm also short from 0475. it's 15 pips below, yes, but it wasn't a lucky choice
and i added more shorts from 0420, 0430 (in this order).
Well done, the skilled one

I had a 'not lucky' short at 0470, but it got stopped out at 0460 on that brief run back up half an hour later... oh well, 10 pips banked is better than no pips
Added another short at 0440, which got stopped out at 0430, but refilled at 0440, and is currently still running, with the same SL (0430) - I keep my SL's at 10 pips while 'close', then move them up/down as I see fit later on

So far, been a nice day... a few pips on shorts, and more than a few on last week's longs, half of which I closed after second attempt at 0490s, and the other half got stopped out at 0410, while I slept (at a profit, of course - I also slept during the run up on Friday, so everything I had was bellow 0230 - again, pure luck/need to sleep
Cable is my sugardaddy
  • #33,571
  • Oct 2, 2007 12:14am Oct 2, 2007 12:14am
yeah. actually this is quite good for such a crappy trading range

Quoting bohogirl
Well done, the skilled one

I had a 'not lucky' short at 0470, but it got stopped out at 0460 on that brief run back up half an hour later... oh well, 10 pips banked is better than no pips
Added another short at 0440, which got stopped out at 0430, but refilled at 0440, and is currently still running, with the same SL (0430) - I keep my SL's at 10 pips while 'close', then move them up/down as I see fit later on

So far, been a nice day... a few pips on shorts, and more than a few on last week's longs, half of which I closed after second attempt at 0490s, and the other half got stopped out at 0410, while I slept (at a profit, of course - I also slept during the run up on Friday, so everything I had was bellow 0230 - again, pure luck/need to sleep
Nihil Sine Deo.
  • #33,572
  • Oct 2, 2007 12:25am Oct 2, 2007 12:25am
Any idea on the reason for the quiet? I hope it's not just the ISM.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #33,573
  • Oct 2, 2007 1:11am Oct 2, 2007 1:11am
anybody long? target 2.0650 at least?
  • #33,574
  • Oct 2, 2007 1:17am Oct 2, 2007 1:17am
ready to buy the dips
"Invest With The Insiders, Not The Masses" George Muzea
  • #33,575
  • Oct 2, 2007 1:21am Oct 2, 2007 1:21am
Quoting soros_junior
anybody long? target 2.0650 at least?
I'm sure Boho wana do that
Hello World!
  • #33,576
  • Edited 2:01am Oct 2, 2007 1:25am | Edited 2:01am
short target is almost reached 2.0374. If the cable goes below 2.0374, the 2nd target may be 2.0352. Let's see whether euro is weaker or not. Good luck to you too, Mike W.
  • #33,577
  • Oct 2, 2007 1:30am Oct 2, 2007 1:30am
IM still with you, santoso, on this short trade. I have all profit locked in and now just along for the ride to the rest of the 20 or so pips. Good luck to you my friend!
I dream, therefore I become.
  • #33,578
  • Oct 2, 2007 1:40am Oct 2, 2007 1:40am
Quoting soros_junior
anybody long? target 2.0650 at least?
Cable is very angry for short traders. My cable stop loss was hit (spike or double bottom at 1 min chart). You can long euro at 1.4257. Today cable is very volatile and undecided or uncertain.
  • #33,579
  • Oct 2, 2007 1:49am Oct 2, 2007 1:49am
Triangle on 30min chart
http://forexfactory.com/showpost.php...0&postcount=31
"Invest With The Insiders, Not The Masses" George Muzea
  • #33,580
  • Oct 2, 2007 1:49am Oct 2, 2007 1:49am
-3% for today... GJ wiped me out twice...
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