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Cable Update (GBPUSD)

  • #60,001
  • Mar 31, 2008 10:32am Mar 31, 2008 10:32am
Quoting Turveyd
Haven't been able to get in, FXCM's GU currency is stuck at 57

No correction, FXCM is dead totally all pairs
It's OK now
  • #60,002
  • Mar 31, 2008 10:34am Mar 31, 2008 10:34am
Looks like it bounce off the 1.9851 support, I am shorting at 1.9870 right now for a break to 1.9825 target. Will add at 1.99 if it gets that high (1.9910 - next resistance)
"Luxury is one of the basic needs", (c), Don Corleone
  • #60,003
  • Mar 31, 2008 10:42am Mar 31, 2008 10:42am
Whew... What a day for Cable. I'm confused.
Don't worry, life's too short
  • #60,004
  • Mar 31, 2008 10:45am Mar 31, 2008 10:45am
Yeah it's back, doesn't inspire confidence though!!

Tomaz, not really, 70% win ratio currently using 13pips, had 8 trades in a row without a loss recently, but I'm trading off M1 and I'm a uber perfectionist on my entrys.

That said considering backing it off to 20pips to remove some of the stress from the perfect entry requirements!! hmmmmmmmm
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,005
  • Mar 31, 2008 10:46am Mar 31, 2008 10:46am
Quoting Toleot
Whew... What a day for Cable. I'm confused.
Cable's bias was down and was interrupted when Paulson spoke about US and GB cooperating in dealing with the financial markets as well as Paulson's comments on expanding Fed's role.

Now back to down bias.
"I know how hard it is for you to put food on your family." George W. Bush
  • #60,006
  • Edited 11:09am Mar 31, 2008 10:47am | Edited 11:09am
Okay plans list fav to least.

UJ Short near 100.00 as near as possible, going a tad higher here.
EU Long nr 1.5795 tight stop as 24hour Support line is there.
GU is favouring short near 1.9880 area, support 50 for bounces or breakdown.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,007
  • Mar 31, 2008 11:10am Mar 31, 2008 11:10am
Quoting MarcoW
Cable's bias was down and was interrupted when Paulson spoke about US and GB cooperating in dealing with the financial markets as well as Paulson's comments on expanding Fed's role.

Now back to down bias.
Paulson bastard nearly took out my stop. if the bias is down why would something like this make the market move so much when it surely wont be enough to change the direction of the downward trend in the pound?
  • #60,008
  • Mar 31, 2008 11:15am Mar 31, 2008 11:15am
It's moved back to sell side on my charts, 1.9880 then 1.9910 are key, ( 12 and 24hour sma's ) I'm waiting for a move near either for a better higher odds short.

Took my UJ short, holding for lower currently.

Wussed EU short might take a bounce off 1.5795 again though, although I fear breakage of that level later.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,009
  • Mar 31, 2008 11:17am Mar 31, 2008 11:17am
Quoting sooperthug
Paulson bastard nearly took out my stop. if the bias is down why would something like this make the market move so much when it surely wont be enough to change the direction of the downward trend in the pound?
Your question, which is perfectly logical, implies that the market follows a logical track.. most of the time, that's appropriate .. however, the best way to deal with these situations ( news announcements/fed comments etc) is to stay out of the market during these specific times..ie..10:00-10:30 or so today.

Glad you didn't get stopped out!
"I know how hard it is for you to put food on your family." George W. Bush
  • #60,010
  • Mar 31, 2008 11:22am Mar 31, 2008 11:22am
Quoting MarcoW
Your question, which is perfectly logical, implies that the market follows a logical track.. most of the time, that's appropriate .. however, the best way to deal with these situations ( news announcements/fed comments etc) is to stay out of the market during these specific times..ie..10:00-10:30 or so today.

Glad you didn't get stopped out!
me too . i only trend trade dailies so i have no real way to avoid news, i kinda have to place my stop near a good resistance level but not too far away to cause pain if i get stopped out. its difficult but im learning, im hoping this move makes me around 1200 pips down down down cable.
  • #60,011
  • Mar 31, 2008 11:23am Mar 31, 2008 11:23am
Actually your stastically better off in the market than outta the market comes news time.

If you consider news to be a 50/50 event on which way it will move the market, 50% of the time it will move it in your direction.

BUT move your stop tight, so when the news goes against you reduce your loss and when in your favour you make many times your loss.

Down she goes, saw it coming aswell 90min sma kicked it down on M1.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,012
  • Mar 31, 2008 11:57am Mar 31, 2008 11:57am
I presuming Nav's new job has no internet access

GU's a possible short here, slow lunch break time i guess!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,013
  • Mar 31, 2008 12:12pm Mar 31, 2008 12:12pm
i think cable have no power to go up ... could be 1.9767 to 1.9736 next station
  • #60,014
  • Mar 31, 2008 12:15pm Mar 31, 2008 12:15pm
Sounds good to me deboooo
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,015
  • Mar 31, 2008 12:56pm Mar 31, 2008 12:56pm
Tooo slow +32 pips today, 3 trades no losers chicken feed sadly, but chicken feed is better than losses.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,016
  • Mar 31, 2008 12:58pm Mar 31, 2008 12:58pm
I hate that, every time i post I'm outta here TANKAGE happens 30seconds later LOL

Hmmmm forms a cunning plan
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60,017
  • Mar 31, 2008 1:20pm Mar 31, 2008 1:20pm
9830 is a key level
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #60,018
  • Mar 31, 2008 1:32pm Mar 31, 2008 1:32pm
Well price has mett an intraday fibb extension over the move from last night....second price has arrived to a strong area of support...and third id to early to trade the market...i will like to see how the market moves to at least the european times...if to choppy i will look at another currency.Yellow fib =50 %fibb of the big counter fibb...


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  • #60,019
  • Mar 31, 2008 1:33pm Mar 31, 2008 1:33pm
Greetings, Bones, you are one of the best chartists i've ever seen here in FF. Abuawad, you too. Keep up the good work and don't pay attention to jealous members and hard feelings. I'm not frequent visitor of the forum, but heard about ya and came around again to see whats happening


nice to see profiting traders. GL GT Gentlemen
  • #60,020
  • Mar 31, 2008 2:07pm Mar 31, 2008 2:07pm
Hey Ceco-Ku4ev really I am very much still leaning with my account going sideways at best.

Thanks for your kind though words mate.
On-site guru & also FF member's' psychiatrist, when not drinking tea
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