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Cable Update (GBPUSD)

  • #55,981
  • Feb 26, 2008 12:24pm Feb 26, 2008 12:24pm
Always believe your charts, throw fundamentals in the garbage.
Trade what you see, not what you think.
  • #55,982
  • Feb 26, 2008 12:25pm Feb 26, 2008 12:25pm
dow just took a big fall almost 80 pips
correction on the way??????
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #55,983
  • Feb 26, 2008 12:28pm Feb 26, 2008 12:28pm
Quoting Runway Trade

I know this has been a nice run up,butAsh can you please comment on the monthly chart. Two pin bars so price should turn, but there was two pin bars in Feb and March 2007 as well but prices went up. MA crossing, Stoch in over bought on monthly chart. Lots of resistans over the years at around the 1.9855. Monthly chart still looking bearish?
Hey man that pin last month is bullish,(and that one last march) im thinking this months is more likely to be a hammer but it’s a bit early to say
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #55,984
  • Feb 26, 2008 12:30pm Feb 26, 2008 12:30pm
Quoting salah k.
with a rally like that it would feel like its too late to long and too dangerous too short and too cowardly to stay out.

so wat's our best option my brother.
u tell me.

Im in bro...to hell with it.....it likely to go to the next resistance point and besides u might as well yur on a demo . trading is about psychology it will take a braver man to short right now ..im up 14 pips already and no friction
  • #55,985
  • Feb 26, 2008 12:34pm Feb 26, 2008 12:34pm
....And NZD/USD at all time high,hope this will drop like 500 pips this week!
  • #55,986
  • Feb 26, 2008 12:35pm Feb 26, 2008 12:35pm
Quoting nAVIN2007
Im in bro...to hell with it.....it likely to go to the next resistance point and besides u might as well yur on a demo
What's the point of trading on demo like you wouldn't with real money later ?
On the path to Enrichment.
  • #55,987
  • Feb 26, 2008 12:36pm Feb 26, 2008 12:36pm
Quoting 30pips
....And NZD/USD at all time high,hope this will drop like 500 pips this week!
you know that this is the cable thread, right?

I am hedged, long @ 1.9458 and short @ 1.9639, I hope it drops a lil lower so that I can close the short.
  • #55,988
  • Feb 26, 2008 12:38pm Feb 26, 2008 12:38pm
Quoting Jurrasic
What's the point of trading on demo like you wouldn't with real money later ?
im following my chart and theres nothing to say short, so why must i go short..i been there done that, got the teashirt..im long like i was supposed to be all day
  • #55,989
  • Feb 26, 2008 12:39pm Feb 26, 2008 12:39pm
Quoting AmeriTrini
you know that this is the cable thread, right?
.
  • #55,990
  • Feb 26, 2008 12:41pm Feb 26, 2008 12:41pm
Quoting nAVIN2007
im following my chart and theres nothing to say short, so why must i go short..i been there done that, got the teashirt..im long like i was supposed to be all day
i think u should wait and buy a dip.
its highly overbought and we might c a slight correction
good luck any way.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #55,991
  • Feb 26, 2008 12:43pm Feb 26, 2008 12:43pm
Quoting nAVIN2007
the thing is with a rally like that who the hell would go short? ..it will only go down if theres resistance level which frightens people. psychology will prevent sellers from entering right now..this is nuts but nice to see happen it gives hope
Actually not necessarily a good time to long, market looking overextended, I would prefer a short for a scalp But im keeping my promise to not enter
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #55,992
  • Feb 26, 2008 12:44pm Feb 26, 2008 12:44pm
Quoting AmeriTrini
you know that this is the cable thread, right?
....Absolutely true,so be cool and dont try to be a smarta$$ here!
  • #55,993
  • Feb 26, 2008 12:45pm Feb 26, 2008 12:45pm
Quoting nAVIN2007
the thing is with a rally like that who the hell would go short? ..it will only go down if theres resistance level which frightens people. psychology will prevent sellers from entering right now..this is nuts but nice to see happen it gives hope
You are mistaken. This is the same point of view that was driving internet stock prices to the stratosphere 8 years ago, only in FX correction timeframes are much shorter.

This pair will come back down to 1.9700 by week's end.
  • #55,994
  • Edited 12:48pm Feb 26, 2008 12:47pm | Edited 12:48pm
The trend is your friend. If you go against your friend, then he / she becomes your #1 enemy. (Unless your scalping behind your friends back, which is not a good thing because you can get burned)
Humble Lifetime Member
  • #55,995
  • Feb 26, 2008 12:47pm Feb 26, 2008 12:47pm
G/U thread or not - it's all about E/U. And what's going to happen with E/U now right below 1.5 no one truly knows and all the other pairs seem to just hang in wait. Time to fold with my very nice profits from today and go to sleep.
On the path to Enrichment.
  • #55,996
  • Feb 26, 2008 12:54pm Feb 26, 2008 12:54pm
Quoting Ash
The trend is your friend. If you go against your friend, then he / she becomes your #1 enemy. (Unless your scalping behind your friends back, which is not a good thing because you can get burned)
i lost my faith in scalping after seeing cable move north nonstop.

no more scalping or even thinking about it.
Amen.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #55,997
  • Feb 26, 2008 12:55pm Feb 26, 2008 12:55pm
New trading rule, NO MATES!!! She just cost me dear LOL
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #55,998
  • Feb 26, 2008 12:56pm Feb 26, 2008 12:56pm
...1.4983 today was all time high for EU,just for the record!
  • #55,999
  • Feb 26, 2008 12:58pm Feb 26, 2008 12:58pm
Quoting 30pips
....Absolutely true,so be cool and dont try to be a smarta$$ here!
I'm not tryin and even if I was, how would you know?
  • #56,000
  • Feb 26, 2008 1:03pm Feb 26, 2008 1:03pm
Quoting Subdude
You are mistaken. This is the same point of view that was driving internet stock prices to the stratosphere 8 years ago, only in FX correction timeframes are much shorter.

This pair will come back down to 1.9700 by week's end.
I closed my position already as i see bears have come back ..lol
I will enter tomorrow based on what i see..and stick to my trading plan no matter what ...many pips to u ..

the biggest thing i learned today is stochastic overbought thing is a real doggy indication
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