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Cable Update (GBPUSD)

  • #4,441
  • Jan 3, 2007 12:55am Jan 3, 2007 12:55am
Quoting Leugimp
...When I begin to hope, I get out, just a rule of mine....
And a good one too!

I use the exact same rule. If I'm in a trade and begin to 'Hope' that it won't continue in this opposite direction to my trade, I get out.

It happens less and less as time goes on, but I don't see it ever going away completely though. The old emotions grab me by the throat a few times a month still and affect trades.
Bundy's status today: "Waiting..."
  • #4,442
  • Jan 3, 2007 12:55am Jan 3, 2007 12:55am
Does anyone know why europe and london open the same time after the holiday? i thought europe always open 1 hour b4 london?

any thoughts would be appreciated

VyNNeR
  • #4,443
  • Jan 3, 2007 1:04am Jan 3, 2007 1:04am
Quoting Leugimp
By the way, the reason I exited the trade at break even less the spread was one that is just personal to me and really doesn't bear any technical reasoning. I was beginning to hope that price would just move my way. Although I feel it is destined to, that sensation of hoping is usually an indicator for me to get out, not necessarily because I think I am wrong, but because I dont want it to have not even .005% effect on my execution. Although this has kept me out of many good trades, the ones that it has affected me unfavorably in the past were too large to ignore. When I begin to hope, I get out, just a rule of mine. Talk to you soon.
Maybee I shouldn't have hoped so soon haaaaaaaaaaaaaa
Man who scratches ass should not bite fingernails
  • #4,444
  • Jan 3, 2007 1:05am Jan 3, 2007 1:05am
Quoting Leugimp
Maybee I shouldn't have hoped so soon haaaaaaaaaaaaaa

I was waiting for you to get out before I made my move
  • #4,445
  • Jan 3, 2007 1:09am Jan 3, 2007 1:09am
Quoting dimmi
I was waiting for you to get out before I made my move
im waiting to see if it closes in next 75 ticks under 18, if so im ready to look to go short, unless it moves down to 04 prior and reverses. if breaks through, I'll have to look for retracements.
Man who scratches ass should not bite fingernails
  • #4,446
  • Jan 3, 2007 1:19am Jan 3, 2007 1:19am
Shorted at 9710 - 150 tick closed below 18. Good point for short. also short term pivots coming below longer dynamic, another + for short. 4 hr is turning and 400 tick still moving down. 1st 1600 tick just about over as it spiked through channel and closed significantly below.
Man who scratches ass should not bite fingernails
  • #4,447
  • Jan 3, 2007 1:19am Jan 3, 2007 1:19am
don't u guys think the downside should be limited at 1.9680?
  • #4,448
  • Jan 3, 2007 1:20am Jan 3, 2007 1:20am
Quoting Leugimp
Shorted at 9710 - 150 tick closed below 18. Good point for short. also short term pivots coming below longer dynamic, another + for short. 4 hr is turning and 400 tick still moving down. 1st 1600 tick just about over as it spiked through channel and closed significantly below.

Welcome to the club (again).
  • #4,449
  • Jan 3, 2007 1:24am Jan 3, 2007 1:24am
my prelimanary target will be 9683 followed by 9653, followed by 9600, and let the rest ride(if it ever gets there). danger stop just above 9750, but will see how price behaves if need get out early at market.
Man who scratches ass should not bite fingernails
  • #4,450
  • Jan 3, 2007 1:28am Jan 3, 2007 1:28am
Quoting c1ro
don't u guys think the downside should be limited at 1.9680?
possibly, so will take initial target there. After that though, I don't really see anything stopping us until 9600, maybee at 9653, but if it makes it that far, i will probably sell more on pullbacks from there, especially if coupled with a negative reversal.
Man who scratches ass should not bite fingernails
  • #4,451
  • Jan 3, 2007 1:43am Jan 3, 2007 1:43am
1st pit stop at 1.9698 which is 61.8%..
  • #4,452
  • Jan 3, 2007 1:47am Jan 3, 2007 1:47am
Quoting samuel84
1st pit stop at 1.9698 which is 61.8%..
I don't want to be lucky, but I feel that there are probably some stops that will also come into play, especially since 9700 was the breakout number for so many people, and so I think a break of 9700 will trigger many and drive price to low 80's. Thanks for the heads up though, i'll keep tight to the screen.
Man who scratches ass should not bite fingernails
  • #4,453
  • Jan 3, 2007 1:58am Jan 3, 2007 1:58am
but it looks hard even break the 700
  • #4,454
  • Jan 3, 2007 2:00am Jan 3, 2007 2:00am
Quoting c1ro
but it looks hard even break the 700
is building up steam, can you feel it. its jumping up so it can get a running start. should find resistance at 9727
Man who scratches ass should not bite fingernails
  • #4,455
  • Jan 3, 2007 2:02am Jan 3, 2007 2:02am
cesar what are you seeing.
Man who scratches ass should not bite fingernails
  • #4,456
  • Jan 3, 2007 2:04am Jan 3, 2007 2:04am
How do you know that happen?
Quoting VyNNeR
Does anyone know why europe and london open the same time after the holiday? i thought europe always open 1 hour b4 london?

any thoughts would be appreciated

VyNNeR
  • #4,457
  • Jan 3, 2007 2:06am Jan 3, 2007 2:06am
Ugh. I got out at breakeven after the spike upwards came back down. Had I stayed in my TP would've been hit at 9710. Oh well, at least I didn't lose anything.

Right now the price is between the resistance at 1.9750 and the pivot point around 1.9704. There's going to a break at some point and I don't think I'll be able to stay awake for it. Good lucky to everyone else though.
  • #4,458
  • Jan 3, 2007 2:07am Jan 3, 2007 2:07am
Quoting Leugimp
cesar what are you seeing.
Still in the waiting... Yesterday I tryied a short with same indicator as of now and lost. I'm not willing to bet against this uptrend, specially in thin market...

Prefer to see it reaching 9680 or less than go back to long. 30 pips up or down here seems spasms to me yet....

News today may shake things a little, though
  • #4,459
  • Jan 3, 2007 2:28am Jan 3, 2007 2:28am
Hi.

Was long cable first, then saw this, decided to pend a short on break of the BEOB instead and go long euro. Bullish 1h pin bar on EURUSD along with usdchf and cable hitting good s/r, but the BEOB on GMT 4h put me in a bad spot.

So since only one outcome can win, let's see what comes of it.
I don't recommend trading anything I say or even I don't say. Heck, don't trade forex, invest in bonds instead
Just saying I haven't even eaten breakfast yet and the market is already schizophrenic.
For anyone that wonders what a BEOB / BEOVB is, read the James16 chart thread please. Yes, all of it
It's a bearish engulfing candle in candlespeak btw.

Good luck all of you.

Best wishes,

SeekingLight
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Trust price. Know yourself.
  • #4,460
  • Jan 3, 2007 2:28am Jan 3, 2007 2:28am
looks like finding resistance at (bottom of range + range*.382). one of my daily range fib levels. Found support earlier at this level(9719 @ 2:49AM).
Man who scratches ass should not bite fingernails
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