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Cable Update (GBPUSD)

  • #49,861
  • Jan 16, 2008 8:34am Jan 16, 2008 8:34am
resistence line comes in at 19726 on this 1h bar .. the same line that price bounce 19742 yesterday .. if this doesn't hold the bull price may push higher .. just my opinion .. good luck





Quoting forex3e
edit : breakout onto target1 ..

http://bp3.blogger.com/_soa35Q8-2NA/...lgu98paint.GIF
  • #49,862
  • Jan 16, 2008 8:37am Jan 16, 2008 8:37am
Quoting MrFuture
What in the world is going on with this pair ? Good GBP news in the morning brought it down...good USD news now brings it up ?????????????? I lost so many pips in these last 2 days its not even funny....
\

SO true...makes little to no sense. I am taking a break from trading. I don't need the money that bad
  • #49,863
  • Jan 16, 2008 8:39am Jan 16, 2008 8:39am
Quoting TIckerShuffl
\

SO true...makes little to no sense. I am taking a break from trading. I don't need the money that bad
Yeah, me too...I gotta rethink my strategy 'cause in these conditions I risk blowing my acct....amazing how choppy it has been lately....
"Lunch ? Lunch Is For Wimps !"
  • #49,864
  • Jan 16, 2008 8:39am Jan 16, 2008 8:39am
Quoting nAVIN2007
im trading 1 lot on the demo...id never do this on live, first experience placing a trade on demo account for news time and it was purely emotional response to place a trade..i think i learn and then do this
I got trigger fingers and am realising that stoct is a load of bulls, the over bought and oversoled things is crazy
I dont think its going to break the trend/resistance area on 4hr chart so i selling from what i think is the top get back the losses..if it work im lucky and will give myself a slap!!
I have been trading or rather learning to trade from May '07 on a demo account. Oct 07 I went to a live account. My advice, trade on a real account with mini lots. You learn much more, faster. You think of the trades you place better then on demo as there are "real" risks, if you make a wrong decision you loose real money. On demo you loose nothing, thus you think through your trades much better. Thats just my opinion on demo trading, wast of time.

Everyday I learn something new here. Thanks
  • #49,865
  • Jan 16, 2008 8:40am Jan 16, 2008 8:40am
Quoting MrFuture
What in the world is going on with this pair ? Good GBP news in the morning brought it down...good USD news now brings it up ?????????????? I lost so many pips in these last 2 days its not even funny....
trading this pair at the moment is a joke..the only thing i seen is the price bouncing in a downward channel and its crazy to predict the direction it going to bounce...even divergence dont seem to respond to this pair right now and that meant to be safe money
Attached Image (click to enlarge)
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  • #49,866
  • Jan 16, 2008 8:43am Jan 16, 2008 8:43am
below 1.9686 i think retracement is ON
  • #49,867
  • Edited 8:59am Jan 16, 2008 8:48am | Edited 8:59am
holly crap...it broke the trendline but it getting bearish ..15 chart showing a inverted hammer....it might start going down now...
and if it does it might give 100 pip south.......lol
  • #49,868
  • Jan 16, 2008 9:02am Jan 16, 2008 9:02am
Quoting nAVIN2007
holly crap...it broke the trendline but it getting bearish ..15 chart showing a inverted hammer....it might start going down now...
and if it does it might give 100 pip south.......lol
well, looking at it in the past few days, that wouldn't surprise me at all.....I think it all has to do with the fact that people are trying to figure out which country, GB or US, is in deeper doo doo.....differently from the EURO...where it is obviously doing better than both....
"Lunch ? Lunch Is For Wimps !"
  • #49,869
  • Jan 16, 2008 9:11am Jan 16, 2008 9:11am
Quoting albertotralzt
below 1.9686 i think retracement is ON
I think retracement is now in play .
If 1.9600 is not touched next could be 1.9740 and if it is passed 1.9840.
It could take several day to reach this assumption.
  • #49,870
  • Jan 16, 2008 9:12am Jan 16, 2008 9:12am
Quoting Rogue$Trader
All my opinion....
Fed rate will be 3% 6 months from now or summer.
Bonds are a GREAT BUY at this time.Will be at 4% soon.
The UK follows the US in a mild recession.
All MAJOR central banks will cut rates, except for japan, obvious.
The US will recover faster.
Down US stock market, up US bonds, Stronger $

UK 1/10 GDP of U.S. The dollar influences the pair more.
  • #49,871
  • Jan 16, 2008 9:18am Jan 16, 2008 9:18am
Quoting Malaysia
Turned out to be a FALSE breakout to the downside. Profit taken from that SHORT. Now after NEWS... switch side. Looks BULLISH after braking that 50% Fibbo. I got multiple entry LONG. Will place SL below that 50% Fibbo soon. CABLE ping pong ... I SCALPING.
Profit taken from that multiple LONG entries. Seeing Shooting Star CS on M30... and STOCH start to curve down... I SHORTED for the retracement. I am SCALPING here.
Attached Image (click to enlarge)
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  • #49,872
  • Jan 16, 2008 9:27am Jan 16, 2008 9:27am
It's important to know how to stay out of a trade during news. We would all like to be 100% certain of the direction of our trade. One rule I follow is: If the 08:30 EST candle on a 15 TF is a doji there is no trade. i.e. the G/U was quite unpredictable, the only thing certain (sort of) was that the price was going to hit a TL and bounce back. I went short at 1.9705 and 1.9702 because it was close to the TL and the candles began to close below the BB 2 and the rest was more obvious. Hope this helps.
  • #49,873
  • Jan 16, 2008 9:30am Jan 16, 2008 9:30am
I think 1.9640 is the end of the retracement, then up, up, up
  • #49,874
  • Jan 16, 2008 9:37am Jan 16, 2008 9:37am
banks taking up the gbp/usd and eur/usd one last gasp. than boom the new year trend turn around resumes, DOWN! Big ones set it up, traders follow.
  • #49,875
  • Jan 16, 2008 9:49am Jan 16, 2008 9:49am
there she goes!
Things can get Real ugly, Real quick!!!
  • #49,876
  • Jan 16, 2008 9:51am Jan 16, 2008 9:51am
after all that i came out -40 $ ....the trade paid of considering i almost blew that account
  • #49,877
  • Jan 16, 2008 9:52am Jan 16, 2008 9:52am
Quoting Atltrader
there she goes!


Down Euro Down
Down EG Down
UP GChf UP
  • #49,878
  • Jan 16, 2008 9:53am Jan 16, 2008 9:53am
Why price must fu...ck us we know price going 1.9270 area why must fu...ck before this !!
  • #49,879
  • Jan 16, 2008 9:56am Jan 16, 2008 9:56am
just like rogue said....... banks are pushing price up for one more gasp before they dump it!! hold on for the ride!
Things can get Real ugly, Real quick!!!
  • #49,880
  • Jan 16, 2008 10:02am Jan 16, 2008 10:02am
Quoting Malaysia
Profit taken from that multiple LONG entries. Seeing Shooting Star CS on M30... and STOCH start to curve down... I SHORTED for the retracement. I am SCALPING here.

Another SHORT triggered Is this gonna be just a Retracement or Continuing Bearish Trend?
Attached Image (click to enlarge)
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