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Cable Update (GBPUSD)

  • #56,901
  • Mar 3, 2008 10:19am Mar 3, 2008 10:19am
Its worth trying
  • #56,902
  • Mar 3, 2008 10:19am Mar 3, 2008 10:19am
anybody get that, bounce, i took a quick 11 pips
Tom(uk)
  • #56,903
  • Mar 3, 2008 10:21am Mar 3, 2008 10:21am
nAVIN...
where have you been?
Never Give Up.....
  • #56,904
  • Mar 3, 2008 10:22am Mar 3, 2008 10:22am
The 818 support is strong and there is a diagonal support line just under, the bounce up for a quick scalp was a certainty, love these quick stress free trades
Tom(uk)
  • #56,905
  • Mar 3, 2008 10:28am Mar 3, 2008 10:28am
Quoting lessy
makey, i put my TP @1.9810. but if it didn't touch, i'll square it...
so did i but my figner slipped and got out at 18, going back in soon
And your mouth dropped
  • #56,906
  • Mar 3, 2008 10:29am Mar 3, 2008 10:29am
Nice, thats normally the sort of trade I go long on, then get stopped out 15seconds later
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #56,907
  • Mar 3, 2008 10:30am Mar 3, 2008 10:30am
Quoting booktimes
The 818 support is strong and there is a diagonal support line just under, the bounce up for a quick scalp was a certainty, love these quick stress free trades
Tom(uk)
I always try to avoid scalping because i usually got trapped
  • #56,908
  • Mar 3, 2008 10:37am Mar 3, 2008 10:37am
I like to be sure too, but the trendline and diagonal were just too tempting and to me looked a certainty especially after such a big drop, had to have a little retrace somewhere
Tom(uk)
  • #56,909
  • Mar 3, 2008 10:54am Mar 3, 2008 10:54am
well it did go up! why the hell, how the hell did it come back down so quick..I placed a buy again ...do people think its going up or down..?
  • #56,910
  • Mar 3, 2008 10:57am Mar 3, 2008 10:57am
Navin, Random to me so far, sitting on the fence until my brain starts to see some logic to it's pattern.

* hopes I've not gone back to too afraid to trade *
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #56,911
  • Mar 3, 2008 10:59am Mar 3, 2008 10:59am
Quoting Turveyd
Navin, Random to me so far, sitting on the fence until my brain starts to see some logic to it's pattern.

* hopes I've not gone back to too afraid to trade *
I know what u mean...it seems like theres no direction
  • #56,912
  • Mar 3, 2008 11:01am Mar 3, 2008 11:01am
Quoting lessy
nAVIN...
where have you been?
just back from work ...i couldnt stay away ...its a rollacoaster today huh?
  • #56,913
  • Mar 3, 2008 11:02am Mar 3, 2008 11:02am
sold again lol!! im waiting to get burned
And your mouth dropped
  • #56,914
  • Mar 3, 2008 11:06am Mar 3, 2008 11:06am
This is one of those weeks where uncertainty reigns, its interest rate week, and nobody is sure what the boe will do, personally I dont think they will cut, it is very rare for the old duffers to cut 2 months running and dispite all the doom and gloom surrounding the pound, Uk is not that bad a position as some people think, the only false thing about UK economy is the inflation rate it is far higher than what we are being told but our friends across the pond are in serious trouble and are trying to dig themselves out quick but a little too late until a new admin comes in November. The pound will range this week till after thursday and the bulls and bears will take a little bit off each other at the highs and lows, (The supports and resis are wonderful things) If you look at the pip spread today it is about 2, a very rangy market
Respect
Tom(uk)
  • #56,915
  • Mar 3, 2008 11:09am Mar 3, 2008 11:09am
Quoting makey2u
sold again lol!! im waiting to get burned
this thing has no direction but the reason this morning i went long and right now im confused bro is..not sure if this is correct but does this not look like divergence which should result in us going high (north)

what yah think?....check the thick blue lines out
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  • #56,916
  • Mar 3, 2008 11:17am Mar 3, 2008 11:17am
I take most of my signals off the 15m chart, great divergence there and that is why we getting this up now, on the hour chart it is more mixed, the rsi is flat on the 50 line, macd is below 0, and stochs are pointing down, this is onlyy a sideways retrace back to where it started the day, no defined trend, wait for it to show itself, dont go hunting trades, patience
respect
Tom(uk)
  • #56,917
  • Mar 3, 2008 11:22am Mar 3, 2008 11:22am
Quoting booktimes
I take most of my signals off the 15m chart, great divergence there and that is why we getting this up now, on the hour chart it is more mixed, the rsi is flat on the 50 line, macd is below 0, and stochs are pointing down, this is onlyy a sideways retrace back to where it started the day, no defined trend, wait for it to show itself, dont go hunting trades, patience
respect
Tom(uk)
which way do u think we are heading the 4hr chart says up and 15 minutes say down...lol ...this is crazy!!!
  • #56,918
  • Mar 3, 2008 11:33am Mar 3, 2008 11:33am
Quoting nAVIN2007
which way do u think we are heading the 4hr chart says up and 15 minutes say down...lol ...this is crazy!!!
4H > 15m

Conclusion: UP

stick with your analysis, don't confuse yourself by looking at smaller TF's.
Trade what you see, not what you think.
  • #56,919
  • Mar 3, 2008 11:40am Mar 3, 2008 11:40am
Quoting karmostaji
4H > 15m

Conclusion: UP

stick with your analysis, don't confuse yourself by looking at smaller TF's.
thx man ....i needed to hear this..it sits well coming from a seasoned trader
  • #56,920
  • Mar 3, 2008 11:50am Mar 3, 2008 11:50am
Booktimes, agree on inflation, electronic none essential items are coming down in price which people rarely buy ( TV's etc ), but there included in the inflation calculation, milk, bread and general food items and fuel / energy of all kinda is up 15-25% over the last 6months alone

Still no trades, shame i missed the huge move, a short was called but wussed nearing 9855, volume looks really low for the time of day aswell.

Too much uncertainty everyone is sitting on the fence!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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