Smashed the bottom than the top of the triangle.... And my AU positions are also rocketing.. What a
Friday, Fryday, Fearday
Friday, Fryday, Fearday
.
Cable Update (GBPUSD)
- #34,282
- Oct 5, 2007 8:52am Oct 5, 2007 8:52am
- | Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts
Done
Bye bye dollar
Patience + Humility + Study = Success
- #34,283
- Oct 5, 2007 8:53am Oct 5, 2007 8:53am
- Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Done
Bye bye dollar
- #34,284
- Oct 5, 2007 8:53am Oct 5, 2007 8:53am
- Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
- #34,285
- Oct 5, 2007 8:54am Oct 5, 2007 8:54am
- Joined Jul 2007 | Status: al zahr | 2,820 Posts
A couple of weeks and AUD will be at parity 
.
- #34,286
- Oct 5, 2007 8:55am Oct 5, 2007 8:55am
- Joined Jul 2007 | Status: Trader | 5,392 Posts
ex member
- #34,287
- Oct 5, 2007 8:58am Oct 5, 2007 8:58am
- | Commercial User | Joined Aug 2007 | 6,072 Posts
Hello World!
- #34,289
- Oct 5, 2007 9:09am Oct 5, 2007 9:09am
- | Commercial User | Joined Aug 2007 | 6,072 Posts
Hello World!
I shorted last week at 2.0334 but the Cable shoot up to nearly 2.0500. My bad... I didn't take the loss soon enough. I did hedging instead with long at 2.0485. OuchhhhI now it was a stupid dump move. I panicked! After that only I learned that hedging is not recommended. Thanks to you all for advising. I appreciate it so much. I never hedging again.
However I am still stuck with my previous positions which are short at 2.0334 and long at 2.0485. Now that the Cable is dropping to my short BE... shall I unlock it now or wait for it to drop some more. Then I can only hope that Cable will bullish again to 2.0500 area to liquidate my long position. What say u guyz?
- #34,291
- Oct 5, 2007 9:11am Oct 5, 2007 9:11am
- Joined Jul 2007 | Status: C.E.O of BWR Investment firm | 4,736 Posts
Just Trade It
- #34,292
- Oct 5, 2007 9:15am Oct 5, 2007 9:15am
- Joined Jul 2007 | Status: Trader | 5,392 Posts
ex member
- #34,293
- Oct 5, 2007 9:16am Oct 5, 2007 9:16am
i think your hedging can still be saved... cable is moving towards 2.0500 area (wave 5)... u can close your long trade there... it will come down again eventually for the abc waves...
Made In Malaysia 
- #34,294
- Oct 5, 2007 9:19am Oct 5, 2007 9:19am
- Joined Jul 2007 | Status: Trader | 5,392 Posts
ex member
- #34,295
- Edited 10:23am Oct 5, 2007 9:19am | Edited 10:23am
Quote:
Originally Posted by TheCable http://www.forexfactory.com/images/buttons/viewpost.gif
it already started - I think we're going to make a new top
yes I hope you are wright can you please post a chart
regards.
Originally Posted by TheCable http://www.forexfactory.com/images/buttons/viewpost.gif
it already started - I think we're going to make a new top
yes I hope you are wright can you please post a chart
regards.
- #34,296
- Oct 5, 2007 9:23am Oct 5, 2007 9:23am
- Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Cheers mate! Thx a lot... at least now I can stop banging my head to the wall. That was the original plan providing Cable ever gonna drop to 300 area again. The question is WHEN??? Hopefully swap will not eat me alive
read this thread, then close the weekest trade and A-H it later, the hedge and roll will kill you, been there done that.
if you think it's going up, close the short and reopen it when the price comes back or visa versa.
http://forexfactory.com/showthread.php?t=27286
- #34,297
- Oct 5, 2007 9:29am Oct 5, 2007 9:29am
read this thread, then close the weekest trade and A-H it later, the hedge and roll will kill you, been there done that.
if you think it's going up, close the short and reopen it when the price comes back or visa versa.
http://forexfactory.com/showthread.php?t=27286
Learning process now. I wish I joined this forum way back before I started this risky business. Anyway... still not to late to learn. U guyz deserve many pips for all the kindness. 
Made In Malaysia - #34,298
- Oct 5, 2007 9:49am Oct 5, 2007 9:49am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
Calling it a week
Went short at 0340 on the pullback, price went my way, then reversed. I stopped and reversed at 0350 and now loss was recovered and ended the day with some profit, thanks to euro long at 4104, too. Not that bad for a crazy NFP. I used to lose a CHUNK in this kind of day
I thought (and posted here) that this would be an easy trade. Specially with the strong possibility of a revision from the -4K. My take was 130K actual, 30K revision from -4K.
Turned out the revision was much stronger, but yet the market went against the dollar. In some hours we will read the reason why in the newswires.
My take for next week is dollar bearish, now that cable failed twice at the previous triangle and euro has found buyers at the 4030/50 50% fib level.
Hope this time cable follow suit the dollar dumping. AUD and CAD add to the dollar bearish cause, imo.
Fundamentally, I think market will be ranging near the dollar's bottom until Fed's statement later in the month. A no-change will get us in a massive correction for November. October is going to be a hard month to trade.
Went short at 0340 on the pullback, price went my way, then reversed. I stopped and reversed at 0350 and now loss was recovered and ended the day with some profit, thanks to euro long at 4104, too. Not that bad for a crazy NFP. I used to lose a CHUNK in this kind of day
I thought (and posted here) that this would be an easy trade. Specially with the strong possibility of a revision from the -4K. My take was 130K actual, 30K revision from -4K.
Turned out the revision was much stronger, but yet the market went against the dollar. In some hours we will read the reason why in the newswires.
My take for next week is dollar bearish, now that cable failed twice at the previous triangle and euro has found buyers at the 4030/50 50% fib level.
Hope this time cable follow suit the dollar dumping. AUD and CAD add to the dollar bearish cause, imo.
Fundamentally, I think market will be ranging near the dollar's bottom until Fed's statement later in the month. A no-change will get us in a massive correction for November. October is going to be a hard month to trade.
- #34,299
- Oct 5, 2007 10:08am Oct 5, 2007 10:08am
- | Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts
Calling it a week
Went short at 0340 on the pullback, price went my way, then reversed. I stopped and reversed at 0350 and now loss was recovered and ended the day with some profit, thanks to euro long at 4104, too. Not that bad for a crazy NFP. I used to lose a CHUNK in this kind of day
I thought (and posted here) that this would be an easy trade. Specially with the strong possibility of a revision from the -4K. My take was 130K actual, 30K revision from -4K.
Turned out the revision was much stronger, but yet the market went against the dollar. In some hours we will read the reason why in the newswires.
My take for next week is dollar bearish, now that cable failed twice at the previous triangle and euro has found buyers at the 4030/50 50% fib level.
Hope this time cable follow suit the dollar dumping. AUD and CAD add to the dollar bearish cause, imo.
Fundamentally, I think market will be ranging near the dollar's bottom until Fed's statement later in the month. A no-change will get us in a massive correction for November. October is going to be a hard month to trade.
Patience + Humility + Study = Success
- #34,300
- Oct 5, 2007 10:20am Oct 5, 2007 10:20am
Man !!!!! The dollar is really between a rock and a hard place. Bad news here and everybody rushes to sell dollars because the economy is going south. good news and the carry trade picks up again, meaning people sell dollars.
when it rains it pours!!!
when it rains it pours!!!
For he that would be deceived, let him.