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Cable Update (GBPUSD)

  • #40,261
  • Nov 21, 2007 2:34am Nov 21, 2007 2:34am
I am hoping for short.

I'm a new trader & my first live account is about gone, again. I had been able to revive if from the U/J drop, but I am close to being out again. But I have learned a lot by breaking all the rules. It turns out, breaking the rules hurts you. I am determined not to give up. This will be my double bottom and I will recover from here.

All my my indicators on the 1H shows short for now, I'll try to gather a few pips to hold me over, short from 2.0620.

I enjoy this forum and seeing different points of view and sharing of info. I have not posted for a while, just been observing. Thank all of you guys for your information. Happy trading and good luck.
  • #40,262
  • Nov 21, 2007 2:41am Nov 21, 2007 2:41am
i am thinking about 2.0580 next target

and then may be going up

what u think guys?
  • #40,263
  • Nov 21, 2007 2:43am Nov 21, 2007 2:43am
Quoting Designer1
i am thinking about 2.0580 next target

and then may be going up

what u think guys?

I would like to buy another one between @0570-80
  • #40,264
  • Nov 21, 2007 2:48am Nov 21, 2007 2:48am
Quoting Designer1
i am thinking about 2.0580 next target

and then may be going up

what u think guys?

I'm thinking 2.0563. I show that as a previous high & is also the 60MA on my hourly chart. This down move started at 2.0696 after coming close to the 60MA on the 4H chart.
  • #40,265
  • Nov 21, 2007 2:48am Nov 21, 2007 2:48am
Channel + triangle = squeeze?
Attached Image
  • #40,266
  • Nov 21, 2007 2:49am Nov 21, 2007 2:49am
big picture...

bulls rule.
Attached Image
  • #40,267
  • Nov 21, 2007 2:50am Nov 21, 2007 2:50am
Consolidated at Mon/Tue 2.0451/56 lows ahead of a strong upswing to 2.0684, where a recoil is expected in view of hourly bearish divergence. Pullback shy of Monday’s 2.0566 high, which reverted to support, shall bode well for making headway to 2.0747/57. Loss of 2.0451/56, however, will weaken recovery.


Res: 2.0700, 2.0735, 2.0746, 2.0763
Sup: 2.0630, 2.0615, 2.0580, 2.0566
  • #40,268
  • Nov 21, 2007 2:52am Nov 21, 2007 2:52am
i say where heading toward 2.0450, that will be a early thanksgiving turkey for me.
If I Go Broke Trying Then I Will die happy.
  • #40,269
  • Nov 21, 2007 2:54am Nov 21, 2007 2:54am
Nice trading day = $100
Awesome trading day = $1,000
Account blowup =$5,000
Colombia 2 x 1 Argentina = PRICELESS

http://img.terra.com.br/i/2007/11/20/640562-0118-ga.jpg

  • #40,270
  • Nov 21, 2007 3:16am Nov 21, 2007 3:16am
GOING UP?
  • #40,271
  • Nov 21, 2007 3:17am Nov 21, 2007 3:17am
Next way? I still holding long... third @0602....
  • #40,272
  • Nov 21, 2007 3:27am Nov 21, 2007 3:27am
Moment of truth is minutes away..
  • #40,273
  • Nov 21, 2007 3:30am Nov 21, 2007 3:30am
BOE Nov Minutes: MPC Voted 7-2 To Hold Rates At 5.75%
  • #40,274
  • Nov 21, 2007 3:31am Nov 21, 2007 3:31am
Watch the 200SMA on 4hr chart.. if price bouce from 200sma BUY!
If break SELL!
"Invest With The Insiders, Not The Masses" George Muzea
  • #40,275
  • Nov 21, 2007 3:33am Nov 21, 2007 3:33am
huge spread....16 here for over 5 minutes. 25 on gbp/jpy
  • #40,276
  • Nov 21, 2007 3:33am Nov 21, 2007 3:33am
The Bank of England Monetary Policy Committee voted 7-2 to hold the repo rate at 5.75%, according to minutes released by the Bank of England, Wednesday. John Gieve joined David Blachflower in voting to cut by 25 bps, but the majority of the MPC remain in wait-and-see mode. The MPC acknowledged concerns over slowing U.K. activity and upward inflationary pressure, but felt the risks attached to an early rate cut outweighed the benefits at this stage.
  • #40,277
  • Nov 21, 2007 3:34am Nov 21, 2007 3:34am
Quoting Qu|cksilver
Watch the 200SMA on 4hr chart.. if price bouce from 200sma BUY!
If break SELL!
Owwww.... yes!!!!
"Invest With The Insiders, Not The Masses" George Muzea
  • #40,278
  • Nov 21, 2007 3:36am Nov 21, 2007 3:36am
it that a confirmed bounce? Looks like its going to retest.
  • #40,279
  • Nov 21, 2007 3:42am Nov 21, 2007 3:42am
Quoting Pipspur
it that a confirmed bounce? Looks like its going to retest.
Wait...don't go long first...

Patient

Trade what you see, if you think its going long... then buy from low
"Invest With The Insiders, Not The Masses" George Muzea
  • #40,280
  • Nov 21, 2007 3:42am Nov 21, 2007 3:42am
Quoting benssol
The Bank of England Monetary Policy Committee voted 7-2 to hold the repo rate at 5.75%, according to minutes released by the Bank of England, Wednesday. John Gieve joined David Blachflower in voting to cut by 25 bps, but the majority of the MPC remain in wait-and-see mode. The MPC acknowledged concerns over slowing U.K. activity and upward inflationary pressure, but felt the risks attached to an early rate cut outweighed the benefits at this stage.
# of cut votes starts mounting...

Good for my GJ shorts
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