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Cable Update (GBPUSD)

  • #54,941
  • Feb 20, 2008 4:01am Feb 20, 2008 4:01am
CBI Industrial Trends Orders in 1 hour.
Did this usually (in the good old days) have any effect on cable.

Any experienced trader can answer that??????????
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #54,942
  • Feb 20, 2008 4:02am Feb 20, 2008 4:02am
well my 1.9450 buy just got tripped ,were still in triangle and that is what im trading,looking for break to the upside for a whole lot of reasons.Gonna keep stop tight though under these conditions.My MA's do not agree with the trade.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #54,943
  • Feb 20, 2008 4:06am Feb 20, 2008 4:06am
http://client11.addonchat.com/sc.php?id=286108 lets get it ripping
And your mouth dropped
  • #54,944
  • Feb 20, 2008 4:10am Feb 20, 2008 4:10am
Quoting Alfista
so far the graphs tell me bearish until 1.9430 where there will be a good support line. maybe than the pair might be bullish but 1.9430 should be touched before cable decides its movement.
came as low as 1.9433 and might go a few pips lower... Very tricky level now. I closed my shorts and observing the market. As we hit a major support.

However supports and resistances are meant to be broken.
  • #54,945
  • Feb 20, 2008 4:15am Feb 20, 2008 4:15am
Quoting makey2u
http://client11.addonchat.com/sc.php?id=286108 lets get it ripping
i will cut loss since i was got floating -80
  • #54,946
  • Feb 20, 2008 4:31am Feb 20, 2008 4:31am
Quoting fxfariz
i will cut loss since i was got floating -80
80 pips is a lot to float, and now bail as price is up against some significant support, and weak movement after the news

I haven't gone long on cable yet, only 'cause I went long g-j, now up 60pips.
  • #54,947
  • Feb 20, 2008 4:43am Feb 20, 2008 4:43am
Quoting Trillionaire
80 pips is a lot to float, and now bail as price is up against some significant support, and weak movement after the news

I haven't gone long on cable yet, only 'cause I went long g-j, now up 60pips.

yes bro....acctully i open 10 post 4 GU..its mini account...
that why...if i was had -80 i will cut loss...
i want 2 open post buy at GJ..but im stuck at floating hell rite now at GU...
currently -70( USD700 )...
  • #54,948
  • Feb 20, 2008 4:50am Feb 20, 2008 4:50am
My SL when it comes to daytrading or so (2 days maybe) is 20 pips MAX. No matter what.... If hit hit so it did not work... But 80??? Yes on my long term trades never exceeds 40 to 60.... Cut it back my friend. Protect your capital.
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  • #54,949
  • Feb 20, 2008 5:32am Feb 20, 2008 5:32am
Quoting bullrock
My SL when it comes to daytrading or so (2 days maybe) is 20 pips MAX. No matter what.... If hit hit so it did not work... But 80??? Yes on my long term trades never exceeds 40 to 60.... Cut it back my friend. Protect your capital.
Actually, it all depends on % risk.
  • #54,950
  • Feb 20, 2008 5:37am Feb 20, 2008 5:37am
Quoting forexmoments
Actually, it all depends on % risk.
No kidding.
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  • #54,951
  • Feb 20, 2008 5:39am Feb 20, 2008 5:39am
Quoting forexmoments
Actually, it all depends on % risk.
I dont scalp for 200 pips. I have a hit rate of 80%-90% and shoot for 10 to 40 pips. So there is the risk. Called ratio. 1/3 or 1/2. And I adjust the position size as well.. based on probabilities and stop loss level. But is all mental as I do not reveal that information usually.
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  • #54,952
  • Feb 20, 2008 5:39am Feb 20, 2008 5:39am
Quoting bullrock
No kidding.
Humble Lifetime Member
  • #54,953
  • Feb 20, 2008 5:42am Feb 20, 2008 5:42am
I limit or hedge scalps at 10-20 pips, except on E/U where it's much wider, on trend and never against.. As for mid-term trades on major trend I put about a 50 pip hedge with a 30 pip S/L (20 pips below) the buy. So if the price retraces more than 50 pips I'm hedged and when it goes back up I loose 30 pips rather than 50 (hoping to make the rest back plus pofit on the big move expected). Of course it's tricky, if the general trend swings you have to hedge again and could loose more, also didn't work on a volatile pair like G/J because it moves too much..
On the path to Enrichment.
  • #54,954
  • Feb 20, 2008 5:45am Feb 20, 2008 5:45am
just broke the major resitance!
  • #54,955
  • Feb 20, 2008 5:50am Feb 20, 2008 5:50am
Quoting Jurrasic
I limit or hedge scalps at 10-20 pips, except on E/U where it's much wider, on trend and never against.. As for mid-term trades on major trend I put about a 50 pip hedge with a 30 pip S/L (20 pips below) the buy. So if the price retraces more than 50 pips I'm hedged and when it goes back up I loose 30 pips rather than 50 (hoping to make the rest back plus pofit on the big move expected). Of course it's tricky, if the general trend swings you have to hedge again and could loose more, also didn't work on a volatile pair like G/J because it moves too much..
Whatever works for each trader. That is the main point. What I have described works for me and reflects my comfortzone....
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  • #54,956
  • Feb 20, 2008 5:50am Feb 20, 2008 5:50am
Quoting Genics
just broke the major resitance!
Um, No, so far only bounced off it.
  • #54,957
  • Feb 20, 2008 5:51am Feb 20, 2008 5:51am
mine was broken but yes i see the bounce now
  • #54,958
  • Feb 20, 2008 5:51am Feb 20, 2008 5:51am
Quoting Trillionaire
Um, No, so far only bounced off it.
You should wait for confirmation of one of the following. It stays as support or becomes resistance. Then go short or long. But each one as she/he likes.
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  • #54,959
  • Feb 20, 2008 5:53am Feb 20, 2008 5:53am
Quoting Trillionaire
Um, No, so far only bounced off it.
And I went long at 19431
  • #54,960
  • Feb 20, 2008 5:55am Feb 20, 2008 5:55am
Quoting deboooo2005
1,9494. GBP USD is in a consolidation after the last bearish movement.

1H is in a bearish configuration. If the support is broken then the target will be 1,9400.

First support 1.9443 , first resistance 1.9532 daily pivot 1.9492

short @ 1.9490
closed my short @ 1.9425 with 65 pips +
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