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Cable Update (GBPUSD)

  • #57,241
  • Mar 5, 2008 9:59am Mar 5, 2008 9:59am
Quoting salah k.
now what any ideas on the current situation.
im afraid going long be4 BOE decision is a bit dangerous.
wat do u guys think?
I picked the short and wasnt able to go long cause of work.lost again but at least now i see the value of news damn thing changed the day...
  • #57,242
  • Mar 5, 2008 10:00am Mar 5, 2008 10:00am
Quoting salah k.
now what any ideas on the current situation.
im afraid going long be4 BOE decision is a bit dangerous.
wat do u guys think?
i am still feeling optimistic that cable would form a triple top above 2.0000 and from there if it would break we would be seeing a bullish trend for some times..
  • #57,243
  • Mar 5, 2008 10:01am Mar 5, 2008 10:01am
lots of resistance at 19960. im still in long. I think even if BoE reduce rates by 25 points its still priced in. Only way USD can gain is if the fed stay still and dont reduce which is very unlikely. once this thing crosses 19960 and then 2.0 it is gonna rocket.
  • #57,244
  • Mar 5, 2008 10:13am Mar 5, 2008 10:13am
Quoting nAVIN2007
I picked the short and wasnt able to go long cause of work.lost again but at least now i see the value of news damn thing changed the day...
i told u buddy they can screw everything up.
i mean the trend was clearly bearish(technically speaking) but good news from UK and bad from US let it jump around 240 pips braking every single resistance set and forcing techies to buy and changing the whole outlook for cable for now at least.

hey buddy if rates are cut tomorrow even by 25 pips we will see a good bearish move( especially if dollar finds some strength )
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,245
  • Mar 5, 2008 10:18am Mar 5, 2008 10:18am
Quoting salah k.
i told u buddy they can screw everything up.
i mean the trend was clearly bearish(technically speaking) but good news from UK and bad from US let it jump around 240 pips braking every single resistance set and forcing techies to buy and changing the whole outlook for cable for now at least.

hey buddy if rates are cut tomorrow even by 25 pips we will see a good bearish move( especially if dollar finds some strength )
well thanks man ..for mentioning it and actually im glad it did have a effect i didnt expect at least now i know trade around the news...
I phoned odl secruities am am going to fill in the paperwork and go live for monday ....wish me luck man
  • #57,246
  • Mar 5, 2008 10:19am Mar 5, 2008 10:19am
Quoting nAVIN2007
well thanks man ..for mentioning it and actually im glad it did have a effect i didnt expect at least now i know trade around the news...
I phoned odl secruities am am going to fill in the paperwork and go live for monday ....wish me luck man
all the best my friend i hope u make tons of money
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,247
  • Mar 5, 2008 10:25am Mar 5, 2008 10:25am
Quote
all the best my friend i hope u make tons of money

and remember your fiends here when you get your first 100K of cables
{Promotion Removed}
  • #57,248
  • Mar 5, 2008 10:31am Mar 5, 2008 10:31am
Quoting salah k.
all the best my friend i hope u make tons of money
how about u? ....when are u going live?
  • #57,249
  • Mar 5, 2008 11:07am Mar 5, 2008 11:07am
Quoting nAVIN2007
how about u? ....when are u going live?
i dont know my friend i was planning on going this week but the problem is this is my last semester and i have a senior project so i cant keep all my focus on trading i mean i have a demo account and im almost 24 hours on the screen from anywhere.
plus i have work so i need to stay patient and start hopefully in summer.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,250
  • Mar 5, 2008 11:16am Mar 5, 2008 11:16am
hey guys read this thread it was on the main page here on FF
very interesting and it reflects wat is going on now in the US

http://www.forexfactory.com/news.php?do=news&id=73470
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,251
  • Mar 5, 2008 11:26am Mar 5, 2008 11:26am
Hello folks,

are we starting to rebound again from 1.9930-40? Where do you think will be the short target (if any)? For me it seems like going short on the H1 chart.. any ideas?
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  • #57,252
  • Mar 5, 2008 11:26am Mar 5, 2008 11:26am
Quoting abuzant
Salam Abu-Awad, Kefak?

Do you think we are gonna break the $2 line in the near future?

The cable has been playing some nice scalping rounds but i think it is about time to catch a trend.. I was betting on the down trend catch but today's news were a little surprising..

Where are your next targets? Where are you placing your bet?

Tank in advance.
Ahleen, al hamdullah tmam 'hi, i'm fine'.
my bet !! i don't think that the word that we have to use it here in Forex, hawevor check the analysis for today... i'm already out the market now.
Quoting Abuawad
05-03-2008
  • #57,253
  • Mar 5, 2008 11:29am Mar 5, 2008 11:29am
Quoting salah k.
i dont know my friend i was planning on going this week but the problem is this is my last semester and i have a senior project so i cant keep all my focus on trading i mean i have a demo account and im almost 24 hours on the screen from anywhere.
plus i have work so i need to stay patient and start hopefully in summer.

Dear Salah, you don't have to be 24 hours on the screen... as Bouns says plan the trading then trade the plan make your own plan and apply it. i hope you will have high mark in your project.
  • #57,254
  • Mar 5, 2008 11:30am Mar 5, 2008 11:30am
Quoting abuzant
Hello folks,

are we starting to rebound again from 1.9930-40? Where do you think will be the short target (if any)? For me it seems like going short on the H1 chart.. any ideas?
i think its better to stay out the market till tomorrow rates decision because cable might witness much senseless volatility.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,255
  • Mar 5, 2008 11:36am Mar 5, 2008 11:36am
I agree with you Salah totally, but for me staying out is not an option (for good reasons), I need to be in almost always even if my positions lose (in the short term).

At the moment, i am a little stuck with 8 lots of cable in a hedge that was stupidly initiated by some forgotten pending orders, this is why i actually asked Abu Awad about his bet, just to have a clue which direction of the hedge has the potential to cover a better portion of the others loss.

Volatility you say?? isn't this our best friend 'sometimes when we scalp'
{Promotion Removed}
  • #57,256
  • Mar 5, 2008 11:41am Mar 5, 2008 11:41am
Quoting Abuawad
Dear Salah, you don't have to be 24 hours on the screen... as Bouns says plan the trading then trade the plan make your own plan and apply it. i hope you will have high mark in your project.
thnx my friend golden advice but im trying to study a strategy that would allow me to check the screen once a day so im trying to study all time frames.
thats y im staying infront of my screen.

i will nshallah make a plan that would allow me to be successful.
a plan that would be wary of fundamental rubbish and the nonsense they imply on the market.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,257
  • Mar 5, 2008 11:44am Mar 5, 2008 11:44am
Quoting abuzant
I agree with you Salah totally, but for me staying out is not an option (for good reasons), I need to be in almost always even if my positions lose (in the short term).

At the moment, i am a little stuck with 8 lots of cable in a hedge that was stupidly initiated by some forgotten pending orders, this is why i actually asked Abu Awad about his bet, just to have a clue which direction of the hedge has the potential to cover a better portion of the others loss.

Volatility you say?? isn't this our best friend 'sometimes when we scalp'
you are perfectly right about scalping but i have a rule about scalping which is i would scalp only if i know what the direction of the trend is.
in this case anybody who is sure about the direction would be mistaken because if tomorrow dollar rebounds we will c cable bearish.
have no doubt about that.

anyway i just wanted to tell u my point of view.

good luck my friend
salam
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,258
  • Mar 5, 2008 11:50am Mar 5, 2008 11:50am
Quoting abuzant
Hello folks,

are we starting to rebound again from 1.9930-40? Where do you think will be the short target (if any)? For me it seems like going short on the H1 chart.. any ideas?
YES buddy i waited for a engulfing candle to show on 1hr chart and it looks like a successfull bounce but god only knows how far down its likely to go ..
  • #57,259
  • Mar 5, 2008 11:54am Mar 5, 2008 11:54am
Quoting abuzant
I agree with you Salah totally, but for me staying out is not an option (for good reasons), I need to be in almost always even if my positions lose (in the short term).

At the moment, i am a little stuck with 8 lots of cable in a hedge that was stupidly initiated by some forgotten pending orders, this is why i actually asked Abu Awad about his bet, just to have a clue which direction of the hedge has the potential to cover a better portion of the others loss.

Volatility you say?? isn't this our best friend 'sometimes when we scalp'

be carefull this hedging thing is very dangerous its better to just cancel trades once the money management thing limit is over and place again..its the greed of trying to make money which results to big/huge losses..at least in my case. ..be carefull buddy
  • #57,260
  • Mar 5, 2008 11:56am Mar 5, 2008 11:56am
Quoting salah k.
you are perfectly right about scalping but i have a rule about scalping which is i would scalp only if i know what the direction of the trend is.
in this case anybody who is sure about the direction would be mistaken because if tomorrow dollar rebounds we will c cable bearish.
have no doubt about that.

anyway i just wanted to tell u my point of view.

good luck my friend
salam
I agreee m8 and u notice something that flipping garley pattern can still form to its true extent...the pattern is worth more trouble than its worth ...lol
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