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Cable Update (GBPUSD)

  • #43,201
  • Dec 5, 2007 2:54pm Dec 5, 2007 2:54pm
Quoting Mina
buy at 250 NOW sl 235 (don't bet your house on this trade)
More prudent, however, would be to study charts presented by Scrat in previous posts, before you venture for your longs today.

Impossible became real today and the day is still not at the end. So don't forget basic "trend is your friend" and think twice (or go sleep now).

I earned fortune on todays fall and now I am losing more than half of it because I too believed, it is time to go long (270 first, then 262).

Good luck
  • #43,202
  • Dec 5, 2007 2:55pm Dec 5, 2007 2:55pm
Guys, seriously, why would you risk by buying now ?

We are entering the slowest hours of trading, plus everybody will be on the sideline now until the rate decision comes out...if you ask me buying now is pure suicide, unless you know the rate won't change and people will party by buying like it's 1999...
"Lunch ? Lunch Is For Wimps !"
  • #43,203
  • Dec 5, 2007 3:04pm Dec 5, 2007 3:04pm
I can't attach images today anybody having this problem or is it just me ?
  • #43,204
  • Dec 5, 2007 3:10pm Dec 5, 2007 3:10pm
Quoting MrFuture
Guys, seriously, why would you risk by buying now ?

We are entering the slowest hours of trading, plus everybody will be on the sideline now until the rate decision comes out...if you ask me buying now is pure suicide, unless you know the rate won't change and people will party by buying like it's 1999...
It might be 1.9999 'fore it'z said and done!
To laugh, to learn, and to teach!
  • #43,205
  • Dec 5, 2007 3:11pm Dec 5, 2007 3:11pm
Quoting MrFuture
Guys, seriously, why would you risk by buying now ?

We are entering the slowest hours of trading, plus everybody will be on the sideline now until the rate decision comes out...if you ask me buying now is pure suicide, unless you know the rate won't change and people will party by buying like it's 1999...
it's 4pm and this pair is still making newer low's, im not buying till this shit clears up, buying now is not a sure thing.
If I Go Broke Trying Then I Will die happy.
  • #43,206
  • Dec 5, 2007 3:16pm Dec 5, 2007 3:16pm
there was a lot of traders that went long at 400 and 350, i hope they cut there losses.
If I Go Broke Trying Then I Will die happy.
  • #43,207
  • Dec 5, 2007 3:18pm Dec 5, 2007 3:18pm
ok since I can't attach the goddamn pic, open a 4h chart, mark a horisontal line at 1.0240 and go back to october.
plus since it's the last hour of us session I expect some profit taking so I figured a 15 pip sl won't hurt that muchbut on the otherside it may turn to be the bottom for today's rally
  • #43,208
  • Dec 5, 2007 3:23pm Dec 5, 2007 3:23pm
Quoting Moe
there was a lot of traders that went long at 400 and 350, i hope they cut there losses.
I learned one thing the hard way a few weeks ago when we had the big rally upwards, remember ? Twice in that case I opened short positions follwoing the thinking "hey, it can't go any higher than this, 'cmon...this is a sure trade if I short it!"

I got burned twice. After that occasion I wrote an email to myself in which I stated that I will not longer open positions in the opposite way of a long move just because "now it can only turn in the opposite direction."

Lesson learned....I'll open a trade only when I get a good signals that a reversal has started AND, most importantly, once the int. rate news comes out.
"Lunch ? Lunch Is For Wimps !"
  • #43,209
  • Dec 5, 2007 3:24pm Dec 5, 2007 3:24pm
2.0240 sorry my bad
  • #43,210
  • Dec 5, 2007 3:28pm Dec 5, 2007 3:28pm
going up ?
since I'm a scalper I can't resist temptation to close this position
alright 10 more pips and sl will be brought to BE
  • #43,211
  • Dec 5, 2007 3:31pm Dec 5, 2007 3:31pm
alright sl brought to +2 we're on a free ride hope anybody followed this
still can't resist temptation
  • #43,212
  • Dec 5, 2007 3:36pm Dec 5, 2007 3:36pm
Quoting MrFuture
I learned one thing the hard way a few weeks ago when we had the big rally upwards, remember ? Twice in that case I opened short positions follwoing the thinking "hey, it can't go any higher than this, 'cmon...this is a sure trade if I short it!"

I got burned twice. After that occasion I wrote an email to myself in which I stated that I will not longer open positions in the opposite way of a long move just because "now it can only turn in the opposite direction."

Lesson learned....I'll open a trade only when I get a good signals that a reversal has started AND, most importantly, once the int. rate news comes out.
talking like a pro.
If I Go Broke Trying Then I Will die happy.
  • #43,213
  • Dec 5, 2007 3:55pm Dec 5, 2007 3:55pm
It seems I can't post big replies either I think I should check with my isp
then mrfuture I'll get back to you on that
  • #43,214
  • Dec 5, 2007 4:23pm Dec 5, 2007 4:23pm
Mina, good call. Think there is a bunch of freebies within that trade
Attached Image (click to enlarge)
Click to Enlarge Name: cable 4hr.gif Size: 35 KB
"Millionaires don't use astrology, billionaires do"
  • #43,215
  • Dec 5, 2007 4:27pm Dec 5, 2007 4:27pm
Quoting Mina
buy at 250 NOW sl 235 (don't bet your house on this trade)
But Mina, calling a signal like this and then declaring you're a scalper is almost a contradiction!

For scalping you generally don't need so much TA.
When scalping, it's unusual to "call" any signals.
And as I said, it is still more prudent to wait,
especially, as MrFuture said, when we are waiting for rate news.

The cable will naturally go up - sooner or later. Just now, only God knows...
  • #43,216
  • Dec 5, 2007 4:31pm Dec 5, 2007 4:31pm
Major resistance in the 2.0240 area, maybe we will see a bounce - this is also the 38.2% fibo retracement from the move from 1.9650 (Aug 17) to 2.1161 (Nov 9).
  • #43,217
  • Dec 5, 2007 4:38pm Dec 5, 2007 4:38pm
Cable sitting at an interesting area in the long term charts. We shall see...
Attached Image
  • #43,218
  • Dec 5, 2007 4:54pm Dec 5, 2007 4:54pm
Quoting WTB
Cable sitting at an interesting area in the long term charts. We shall see...
Nice picture.
My poor memory. When did the BOE change the IR for the last time?
  • #43,219
  • Dec 5, 2007 5:46pm Dec 5, 2007 5:46pm
Morning all.

Anyone still long?
"Invest With The Insiders, Not The Masses" George Muzea
  • #43,220
  • Dec 5, 2007 5:50pm Dec 5, 2007 5:50pm
Im not long as yet and dont plan on going long unless there are real signs!!!
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