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Cable Update (GBPUSD)

  • #50,521
  • Jan 22, 2008 2:29am Jan 22, 2008 2:29am
Quoting nerolink
Any Ideas where this uptrend will end??
maybe when it tests resistance at 9508, 9562. depends on news. but 9500 should be SOLID resistance, remember how hard it was to break it?
  • #50,522
  • Jan 22, 2008 2:30am Jan 22, 2008 2:30am
Quoting trader69
pound yen on fire!!!! pound dollar too!!!
G/J too, and I just got burned! Back to 0 for the day.
  • #50,523
  • Jan 22, 2008 2:45am Jan 22, 2008 2:45am
Quoting AmeriTrini
maybe when it tests resistance at 9508, 9562. depends on news. but 9500 should be SOLID resistance, remember how hard it was to break it?
Thanks... Let see what happens...
  • #50,524
  • Jan 22, 2008 2:46am Jan 22, 2008 2:46am
Quoting nerolink
Thanks... Let see what happens...
no problem, im just tryin to make some pips like you....
  • #50,525
  • Jan 22, 2008 3:04am Jan 22, 2008 3:04am
Quoting AmeriTrini
no problem, im just tryin to make some pips like you....
Great, seems like you were spot on. Alot of resistance at 1.9500. Do you think we will see a downtrend soon? It feels like there is no specific direction today. http://www.forexfactory.com/images/icons/icon14.gif
  • #50,526
  • Jan 22, 2008 3:07am Jan 22, 2008 3:07am
Quoting nerolink
Great, seems like you were spot on. Alot of resistance at 1.9500. Do you think we will see a downtrend soon? It feels like there is no specific direction today. http://www.forexfactory.com/images/icons/icon14.gif
yes, but im waiting for the news to confirm at 6am est. but it may make a move just before that, but, as i said............i will wait for the news to confirm...........
  • #50,527
  • Jan 22, 2008 5:11am Jan 22, 2008 5:11am
Quoting JuSh
Hmm.... nice tought... i agree...
the gbp news was better than expected. america i gonna wake up soon and then its all doom for the dollar. i even think that the fed may step in early to lower interest ratesand therefore usd wil take a big hit.

In any event if no early rate reduction it looks like the fed will have to reduce rates by 100 basis points at the end o the month!

so i cant see how the usd can benefit
  • #50,528
  • Jan 22, 2008 5:23am Jan 22, 2008 5:23am
may i ask you where you got this news from?

thanks
  • #50,529
  • Jan 22, 2008 5:27am Jan 22, 2008 5:27am
Anyone short??
"Invest With The Insiders, Not The Masses" George Muzea
  • #50,530
  • Jan 22, 2008 5:31am Jan 22, 2008 5:31am
Quoting dds_student
may i ask you where you got this news from?

thanks

its just my opinion looking at the current situation. Just wait till the US market opens.

im long by the way so i am a little biased but i cant see any other direction at the moment
  • #50,531
  • Jan 22, 2008 5:31am Jan 22, 2008 5:31am
is there anybody knows about BOE Governor King Speaks?
Thank you....
Never Give Up.....
  • #50,532
  • Jan 22, 2008 5:32am Jan 22, 2008 5:32am
Quoting Qu|cksilver
Anyone short??

my TA is telling me to go long...

gbpusd was downtrending in a channel i drew. today it hit the bottom of the channel and bounced back up, but my trading system told me not to touch it just yet, but after the next candle stick and breaking the 9500 with the good news, i hit long at 9520. hoping for the best
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  • #50,533
  • Jan 22, 2008 5:32am Jan 22, 2008 5:32am
Quoting Gubster
its just my opinion looking at the current situation. Just wait till the US market opens.

im long by the way so i am a little biased but i cant see any other direction at the moment
but is there a site to read news from?
  • #50,534
  • Jan 22, 2008 5:33am Jan 22, 2008 5:33am
Quoting Qu|cksilver
Anyone short??
Hi Qs ... breaking 1.9532 ... no place for short
  • #50,535
  • Jan 22, 2008 5:35am Jan 22, 2008 5:35am
i wish you all have more green pips this year and for me i officially quit forex coz already burnt usd1000 in 2 months. so sad, so upset, oh my..maybe forex is not my hunting field. i dont know.

anyway good luck guys... visit malaysia 2008..cheers
  • #50,536
  • Jan 22, 2008 5:38am Jan 22, 2008 5:38am
Quoting arinforex
i wish you all have more green pips this year and for me i officially quit forex coz already burnt usd1000 in 2 months. so sad, so upset, oh my..maybe forex is not my hunting field. i dont know.

anyway good luck guys... visit malaysia 2008..cheers
Take a step back and look at what you did wrong? Were you scalping? Did you utilize proper MM and have patience with your trades? Have you tried trading on Higher TF's?
Humble Lifetime Member
  • #50,537
  • Jan 22, 2008 5:38am Jan 22, 2008 5:38am
Quoting arinforex
i wish you all have more green pips this year and for me i officially quit forex coz already burnt usd1000 in 2 months. so sad, so upset, oh my..maybe forex is not my hunting field. i dont know.

anyway good luck guys... visit malaysia 2008..cheers
did you you have a trading system? and may i ask you what timeframe did you choose?


originally i started at the 5 min time frame and got burnt because it was too undecisive with my trading system...moved up to 30 min and it got a little better...but still it was still not matching with my trading system...then i moved to H4 and boy was it perfect....i can have the relief of hitting my pips just perfect and unloading my positions before the week is over....
  • #50,538
  • Jan 22, 2008 5:47am Jan 22, 2008 5:47am
Quoting dds_student
but is there a site to read news from?
just go to google news and type in

'early rate cut by the fed'.

you will find the news everywhere!!
  • #50,539
  • Jan 22, 2008 5:48am Jan 22, 2008 5:48am
Quoting dds_student
did you you have a trading system? and may i ask you what timeframe did you choose?


originally i started at the 5 min time frame and got burnt because it was too undecisive with my trading system...moved up to 30 min and it got a little better...but still it was still not matching with my trading system...then i moved to H4 and boy was it perfect....i can have the relief of hitting my pips just perfect and unloading my positions before the week is over....
may I know the 4H system that work for you??? how much is the sl??
  • #50,540
  • Jan 22, 2008 5:49am Jan 22, 2008 5:49am
Im in short position G/U 1.9542 a G/J 208.02
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