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Cable Update (GBPUSD)

  • #64,541
  • May 7, 2008 9:20am May 7, 2008 9:20am
Quoting mavewei
Will Crude Oil Inventories index added more preasure to GBP?
Still seeking a Long entry ...
it might
if US had a good inventory number (better than expected ) it could push oil down and dollar up

which might have a ripple effect on cable.
or not
thats a long shot
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #64,542
  • May 7, 2008 9:21am May 7, 2008 9:21am
1.9549 Pending entry order LONG. TP 1.9591 SL 1.9528.

If price goes bellow 1.9516, I will modified my order.
  • #64,543
  • May 7, 2008 9:24am May 7, 2008 9:24am
Buy order placed at 1.9534, downchannel on the 4hr was close to being touched which was enough for me to go long.

  • #64,544
  • May 7, 2008 9:25am May 7, 2008 9:25am
Quoting salah k.
it might
if US had a good inventory number (better than expected ) it could push oil down and dollar up

which might have a ripple effect on cable.
or not
thats a long shot
Agree, Refer to last 3 week, Cable go up when good inventory number shown.
  • #64,545
  • May 7, 2008 9:26am May 7, 2008 9:26am
Quoting Runway Trade
OK just for some added pressure I added a long at 1.9522 will bail out or hedge if we go below 1.9490 (This one is now gambeling )
hope it goes through your expectation...not just because of my tiny reversal trade but also covering your losses..
but like everybody says do not add to losing trade...
  • #64,546
  • May 7, 2008 9:40am May 7, 2008 9:40am
1.9500-1.9470 seems an interesting area for a retracement, if one likes to pick bottoms. I like the 1.9500 level.

Anyone differ?
  • #64,547
  • May 7, 2008 9:44am May 7, 2008 9:44am
Quoting Carrera
1.9549 Pending entry order LONG. TP 1.9591 SL 1.9528.

If price goes bellow 1.9516, I will modified my order.
you was modify yor order or not yet right now?
  • #64,548
  • May 7, 2008 9:44am May 7, 2008 9:44am
OK now fishing for anything for up signal. Morning star on 5M
  • #64,549
  • May 7, 2008 9:46am May 7, 2008 9:46am
Quoting nomask
hope it goes through your expectation...not just because of my tiny reversal trade but also covering your losses..
but like everybody says do not add to losing trade...
Thats actually bad logic, if the reason you entered is still valid but the price has gotten cheaper then taking advantage of the cheaper price is key, especially if your trying to pick a bottom then scaling in is key!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #64,550
  • May 7, 2008 9:46am May 7, 2008 9:46am
Quoting Runway Trade
OK now fishing for anything for up signal. Morning star on 5M
well morning star has been formed a pretty one. I know the feeling too
  • #64,551
  • May 7, 2008 9:48am May 7, 2008 9:48am
Quoting Runway Trade
OK now fishing for anything for up signal. Morning star on 5M

dont take candles pattern without bouncing or retracting from a R/S level
  • #64,552
  • May 7, 2008 9:49am May 7, 2008 9:49am
I'm pissed at myself. I had my take profit at 1.9505 and I was going to go long at that moment... but it started moving up after the release of pending house sales (fake move up) and I closed it early. What number did it get to??? 1.9504!!!!!

I don't think it's going much lower than that- there is an exotic option at 1.95 and it's getting oversold. I think that will be our bottom. However, I've been wrong before.

I end up doing this a lot- do you guys? I will make my plan.. have everything set out.. and then chicken out and watch it do exactly what I thought it was going to do. That's the freaking worst.
  • #64,553
  • May 7, 2008 9:53am May 7, 2008 9:53am
Quoting DeePipster
I end up doing this a lot- do you guys? I will make my plan.. have everything set out.. and then chicken out and watch it do exactly what I thought it was going to do. That's the freaking worst.
Have the same prob. Costs me a couple hundres dollars over time.

Still ah newbie. But that prob is a slow killer for me.
  • #64,554
  • May 7, 2008 9:58am May 7, 2008 9:58am
DeePipster, where do you get your options price levels from and any idea of a broker that lets you trade FX Options ??



p.s. Based on euro's strength I've just gone LONG !!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #64,555
  • May 7, 2008 9:59am May 7, 2008 9:59am
Quoting DeePipster
I'm pissed at myself. I had my take profit at 1.9505 and I was going to go long at that moment... but it started moving up after the release of pending house sales (fake move up) and I closed it early. What number did it get to??? 1.9504!!!!!

I don't think it's going much lower than that- there is an exotic option at 1.95 and it's getting oversold. I think that will be our bottom. However, I've been wrong before.

I end up doing this a lot- do you guys? I will make my plan.. have everything set out.. and then chicken out and watch it do exactly what I thought it was going to do. That's the freaking worst.
i consider this to be my big time weekness..i do it everyday ..
  • #64,556
  • May 7, 2008 10:05am May 7, 2008 10:05am
Quoting nAVIN2007
i consider this to be my big time weekness..i do it everyday ..

If you 2 could post your plans and be clear as to which ones your using and not that'd be cool
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #64,557
  • May 7, 2008 10:06am May 7, 2008 10:06am
Quoting DeePipster
I'm pissed at myself. I had my take profit at 1.9505 and I was going to go long at that moment... but it started moving up after the release of pending house sales (fake move up) and I closed it early. What number did it get to??? 1.9504!!!!!

I don't think it's going much lower than that- there is an exotic option at 1.95 and it's getting oversold. I think that will be our bottom. However, I've been wrong before.

I end up doing this a lot- do you guys? I will make my plan.. have everything set out.. and then chicken out and watch it do exactly what I thought it was going to do. That's the freaking worst.
welcome to the club! I have lost 100's by doing this. But rather loose some +pips then be in the KaK I am in now because not following your own rules!!!

UP CABLE UP NOW!
  • #64,558
  • May 7, 2008 10:10am May 7, 2008 10:10am
3hour sma 1.9535, 6hour 1.9555, watch for resistance at these levels ( remember there falling ) These are my 2 key points to bust through.

Target 1.9570!! +50!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #64,559
  • May 7, 2008 10:10am May 7, 2008 10:10am
Quoting Turveyd
DeePipster, where do you get your options price levels from and any idea of a broker that lets you trade FX Options ??
I trade through Oanda and another company, but the FX News service with Oanda will give you that kind of information when it is important to know. It seems like when there is a big option like that- not often does it break through unless there is something major. I was thinking since we are oversold pretty good on the 1hr chart- it would probably hold.
  • #64,560
  • May 7, 2008 10:13am May 7, 2008 10:13am
Quoting Carrera
1.9549 Pending entry order LONG. TP 1.9591 SL 1.9528.

If price goes bellow 1.9516, I will modified my order.
This is my strategy.
I just trying to avoid stupid retrace. 15% is good for me to get in. Many times I see sideway movement before break the 15% retrace so, why worry if price is not going any where but sideways?
See chart bellow.
Attached Image (click to enlarge)
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