Cable Update (GBPUSD)

i m
should i close my short?

If I came two hours before i would go short. now waiting for 2.07 for placing entries. [2.0693 for short and 2.0755 for long with no TPs]

No! I heard that crisis in America gonna finish in couple of months, so you'll make your pips, just be patient

Seriously, you may have problem during news, i would think about closing before it.

GMT November 27 Sell interest circa 2.0700 has capped cable since its
lift off a European morning intra-day low of 2.0669. A 2.0700 option strike
expires tomorrow (Wednesday), alongside a 2.0600 strike.
2.0648 (yesterday"s NY session base), 2.0604 (yesterday"s floor) and 2.0517
(last Friday"s low) are support points south of 2.0669.
Good size offers ahead of Friday"s 9-day peak of 2.0765 capped cable at a
high of 2.0758 in Asia today. The rise to 2.0758 was spurred by a pick-up in
risk appetite spurred by the news that Citigroup is receiving a $7.5bn capital
infusion from the investment arm of the Abu Dhabi government (WSJ website).
MPC ultra-dove David Blanchflower is slated to speak at 16:15GMT, with MPC
hawk Andrew Sentance due to speak at 18:45GMT. Sentance voted in favour of all
five 25bp UK base rate hikes delivered between August 2006 and July this year.
The three-month sterling Libor rate has today been fixed at 6.56063%,
compared to 6.55375% yesterday. The UK base rate is currently 5.75%. The next
MPC meeting takes place next week (Dec 5/6).

Short NP, i am SHORT man.................
shortGUshort...

my short was triggered from 745 stop at breakeven i dont even care about it anymore, rite now news can stop me out at BE or wick to my target. got in at 50% target weekly CPP at 610

me to, from 0695

short all the way...

Citi got $7.5bln from Abu Dhabi. Northern Rock some other blns from Virgin in a "please drag me out of the swamp my moron CFO got me in" deal.

i am out of this from short now-

i will wait what actual direction going is

from 2 hours playing up and down!

what about the us news

GBP/USD: Still Capped at 2.0700 as 3.0% Fed Funds Tip Digested London, November 27. Sell interest circa 2.0700 is continuing to keep a lid on cable, as the market digests a downward revision to a US investment house"s Fed Funds rate call. The prime name now expects the Fed funds rate to be 3.0% by the middle of next year (Bloomberg). It was previously forecasting that the Fed funds rate would be 4.0% in mid-2008. The Fed Funds rate is currently 4.5%.
There are five scheduled FOMC meetings between now and the middle of next year. The dates of these scheduled meetings are: December 11, January 29/30, March 18, April 29/30 and June 24/25.
The US investment house also says that US recession risk has risen, and is now as high as 45%

for me, i don't care with the news. unless intrest rate or NFP.

Alredy got a plan

5 mins chart i dont think it will really useful

try to see H1 or H4 chart it will be more perfect for the day trading

am i right?

depends on how many pips you are after. most day traders use the lower time frames for better entries based on a longer term analysis.

WASSUP everybody, Just vacationing in Thailand and had to log on to check a few things out, God I love this job. We can work from anywhere in the world, even next to a beautiful white sand beach and still make money without a boss or a time card.

I might be here tommorow as well as I got a sun burn today. Oh wait, tommorow we are going to pee-pee Island where they filmed The Beach with Leonardo whats his name.

Yes. But lines for entries are based not exactly on 5 min chart, the red line is not that important as my levels of entry.
For entry i use support and resistants. Red line is only to avoid turning back from level below horisontal line.

After reviewing 1h chart i'd place my order for short around 14.50GMT if price at or above 2.0705

other thing is that i do daily and propably close position till 10.00 GMT
I'm qite sure about this position, but time will show
[other thing is the same entry gives profits or losses dependly on who placing them, not on price action]

In Brazil we call it "salt the ass up"

I dont have any salt up my ass but I sure have alot of sand coming out.

Oh wait, white sand, salt, now I get it. Sorry too much sun and booze.