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Cable Update (GBPUSD)

  • #61,381
  • Apr 11, 2008 6:18am Apr 11, 2008 6:18am
Quoting tomaz55
tp reached yesterday for +90

week's total: +363
Well done.... that's brilliant
  • #61,382
  • Apr 11, 2008 6:20am Apr 11, 2008 6:20am
Quoting smartyram
Does anybody else see this huge H&S on GBP. If this materializes CABLE will go down to 1.8100 eventually! This will definitely be a long term trade!!!
Any long term traders here who can comment on this H&S on GBP?
http://www.forexfactory.com/showpost...ostcount=61355
  • #61,383
  • Apr 11, 2008 6:22am Apr 11, 2008 6:22am
15 minute chart has bearish writen all over it ...
Attached Image (click to enlarge)
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  • #61,384
  • Apr 11, 2008 6:28am Apr 11, 2008 6:28am
I am thinking all down from here to 1.96
Trade less make more!
  • #61,385
  • Apr 11, 2008 7:53am Apr 11, 2008 7:53am
looks like short it is ..
  • #61,386
  • Apr 11, 2008 8:04am Apr 11, 2008 8:04am
Quoting nAVIN2007
looks like short it is ..
You are right guys and I think I am right too. The trend is down too but I am preying that it should break 1.9660 signal. The new entry could be
Entry:1.9700 PT:1.9630 SL:1.9770

Al-Syed
Time is Money and
Money has no frontier!!!
  • #61,387
  • Apr 11, 2008 8:34am Apr 11, 2008 8:34am
Quoting mike w
I'm pretty sure we don't have anough momentum to move that much further down before revisiting at least 1.9750 area and possibly a little bit higher. This will be a good area for shorts IMO, for the ride down to 1.95-1.96. .
Chyeah Chyeah. lol I'm just going to hold now and collect over the weekend. Good luck in your trades ladies and gents and have a good weekend.
I dream, therefore I become.
  • #61,388
  • Apr 11, 2008 9:04am Apr 11, 2008 9:04am
the news had no effect ....
??????
  • #61,389
  • Apr 11, 2008 9:14am Apr 11, 2008 9:14am
Quoting nAVIN2007
the news had no effect ....
??????
Look like she will going up, but not confirm yet
  • #61,390
  • Apr 11, 2008 9:30am Apr 11, 2008 9:30am
Quoting mavewei
Look like she will going up, but not confirm yet
the only way we were going up is if the news bought it up ...and it didnt have any effect at all ...its going down..i just wish i never exit the position
  • #61,391
  • Apr 11, 2008 9:40am Apr 11, 2008 9:40am
Quoting nAVIN2007
the only way we were going up is if the news bought it up ...and it didnt have any effect at all ...its going down..i just wish i never exit the position
I can give you my 2 Cents suggestion: Since the consumer sentiment is weaker than expected (US) then on the same hour the rate is going to be abosrbed the news for I would say 10-20 pips up at the most then from the next hour it go back to its downward trend because one hour momentum is down and so far it went down up to 1.9680 level. The other reason to go up because the DJIA (Stocks) is very down (-150 points).

I think i have to be very patient and calm to close my mini positions because I think by Noon US time the rate wold be flat and by the close time it might be around the same range as Mr. Daurus mentioned to his analysis yesterday night.

Thanks,

Al-Syed
Time is Money and
Money has no frontier!!!
  • #61,392
  • Apr 11, 2008 9:46am Apr 11, 2008 9:46am
Quoting asyed4
I can give you my 2 Cents suggestion: Since the consumer sentiment is weaker than expected (US) then on the same hour the rate is going to be abosrbed the news for I would say 10-20 pips up at the most then from the next hour it go back to its downward trend because one hour momentum is down and so far it went down up to 1.9680 level. The other reason to go up because the DJIA (Stocks) is very down (-150 points).

I think i have to be very patient and calm to close my mini positions because I think by Noon US time the rate wold be flat and by the close time it might be around the same range as Mr. Daurus mentioned to his analysis yesterday night.

Thanks,

Al-Syed
Time is Money and
Money has no frontier!!!
I want to add one more thing, please wait for London fix because my trading experience is telling me that London might take the pair down hard in their last hour of trading between (11:00am-12:00 Noon) [US Central time]
  • #61,393
  • Apr 11, 2008 9:48am Apr 11, 2008 9:48am
I think it's going down all the way to 1.9620 thats my take profit started at 1.9794
Trade less make more!
  • #61,394
  • Apr 11, 2008 9:50am Apr 11, 2008 9:50am
correction 1.9660
Trade less make more!
  • #61,395
  • Apr 11, 2008 9:53am Apr 11, 2008 9:53am
Quoting nAVIN2007
the only way we were going up is if the news bought it up ...and it didnt have any effect at all ...its going down..i just wish i never exit the position
never let news affect your decisions, if the market is headed down or up news will affect it little in the long run, it will not change a trend and from what I see in your post among others here is pure emotional trading with no thought to money management.
IF you trade in the direction of a trend then you know you are going to profit even if it retraces on you. Look at the retrace as a better opportunity to get in at a better price, cut your loss and wait for a better entry.

have faith in your trades because IF you do not have that then you might as well just write your broker a check and find another job/hobby whatever this is to you.

If a pair is in a up trend then buy the dips...unless you KNOW the correction is 100 to 200 pips, if you do not KNOW for sure then you are not trading you are guessing.

you need to leave room for any trade to breath as long as you have faith in it and your target.

I posted my targets and do not expect them to be reached with a straight down shot but the market will get there, maybe this week, maybe next week maybe the next but it will when it is ready not when I want it to.


leave the emotion elsewhere or you will not make smart decisions but dumb guesses
Don't chase the market, Let the market come to you
  • #61,396
  • Apr 11, 2008 9:55am Apr 11, 2008 9:55am
Quoting Tmac
never let news affect your decisions, if the market is headed down or up news will affect it little in the long run, it will not change a trend and from what I see in your post among others here is pure emotional trading with no thought to money management.
IF you trade in the direction of a trend then you know you are going to profit even if it retraces on you. Look at the retrace as a better opportunity to get in at a better price, cut your loss and wait for a better entry.

have faith in your trades because IF you do not have that then you might as well just write your broker a check and find another job/hobby whatever this is to you.

If a pair is in a up trend then buy the dips...unless you KNOW the correction is 100 to 200 pips, if you do not KNOW for sure then you are not trading you are guessing.

you need to leave room for any trade to breath as long as you have faith in it and your target.

I posted my targets and do not expect them to be reached with a straight down shot but the market will get there, maybe this week, maybe next week maybe the next but it will when it is ready not when I want it to.


leave the emotion elsewhere or you will not make smart decisions but dumb guesses
I couldnt have said it better, good job!!!

  • #61,397
  • Apr 11, 2008 9:59am Apr 11, 2008 9:59am
you must remember you are trading the weak against the weak here, probably the worst pair to be trading right now, there are many others that will give you much better signals and clearer signals than this one IMHO
Don't chase the market, Let the market come to you
  • #61,398
  • Apr 11, 2008 10:04am Apr 11, 2008 10:04am
Quoting Tmac
never let news affect your decisions, if the market is headed down or up news will affect it little in the long run, it will not change a trend
Of course it all depends on what timeframe people are using.
  • #61,399
  • Apr 11, 2008 10:06am Apr 11, 2008 10:06am
Quoting Tmac
never let news affect your decisions, if the market is headed down or up news will affect it little in the long run, it will not change a trend and from what I see in your post among others here is pure emotional trading with no thought to money management.
IF you trade in the direction of a trend then you know you are going to profit even if it retraces on you. Look at the retrace as a better opportunity to get in at a better price, cut your loss and wait for a better entry.

have faith in your trades because IF you do not have that then you might as well just write your broker a check and find another job/hobby whatever this is to you.

If a pair is in a up trend then buy the dips...unless you KNOW the correction is 100 to 200 pips, if you do not KNOW for sure then you are not trading you are guessing.

you need to leave room for any trade to breath as long as you have faith in it and your target.

I posted my targets and do not expect them to be reached with a straight down shot but the market will get there, maybe this week, maybe next week maybe the next but it will when it is ready not when I want it to.


leave the emotion elsewhere or you will not make smart decisions but dumb guesses
thank u ....good advise and plenty there i need to adopt..its true i expect to place a trade with target and have to understand it will just reach and stop being nervous when it retraces and and thinking direction is wrong......all of the trades i placed would have reached if only i gave it room to breath and didnt because i was trading emotionally...i will work at it ....thx for pointing out what im actually doing, gives me something to work towards as sometimes it need to be said in order to realise thats the problem...
  • #61,400
  • Apr 11, 2008 10:11am Apr 11, 2008 10:11am
Quote
all of the trades i placed would have reached if only i gave it room to breath and didnt because i was trading emotionally.

you just gave yourself the second best advise possible, trust your trade or go home
Don't chase the market, Let the market come to you
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