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Cable Update (GBPUSD)

  • #64,721
  • May 8, 2008 4:38am May 8, 2008 4:38am
Quoting mavewei
Have any idea to join again the train to north?
Or I start to wait for another Short retracement?
i'd say wait for any sign that says upward movement made its pullback and ready to continue..its too early now to guess wheter its pullback of downward or upward....
  • #64,722
  • May 8, 2008 4:38am May 8, 2008 4:38am
The prive went straight to the 89 Smoothy on the 15 Min t/f And died. See how they can graduate to the next level.

Jim

Quoting hard1head1
Hey Bones, flip it to the 15 Min T/F and look where it stopped.

Jim
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  • #64,723
  • May 8, 2008 4:40am May 8, 2008 4:40am
Quoting LuckyLurker
Targeting 9727. Going back to bed.
If we get to 9727 I'll be a VERY happy man
  • #64,724
  • May 8, 2008 4:44am May 8, 2008 4:44am
Quoting Runway Trade
If we get to 9727 I'll be a VERY happy man
not you alone buddy, trust me!!!

  • #64,725
  • May 8, 2008 4:48am May 8, 2008 4:48am
So far we are getting a nice little bounce off the Daily Pivot Point. Keep stop 6 or 7 pips below since it may bounce a bit.
  • #64,726
  • May 8, 2008 4:52am May 8, 2008 4:52am
Pair may stagnate here until 7, unfortunatly.
  • #64,727
  • May 8, 2008 4:52am May 8, 2008 4:52am
what i see now is the upward move still bouncing nicely on 38.2 level..
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  • #64,728
  • May 8, 2008 4:59am May 8, 2008 4:59am
Quoting satutrade
hi brother i was out my 1st @1.9600
now wait for my 2nd...
however still wait your 61% that you say before...
thanks for your update..
Hey bro, congratulations.
But listen, I'm not perfect. Sucess came with proper MM.
Some are:
Lots per contracts
Know when to close part or all of your contract
Timing
Proper SL for MM.

You could have more losses than winnings and still been positive. If you noticed I was close to hit my stop lost many times, BUT, I didn't moved because that risk was calculated in my MM plan.
I have been doing ok, but is because the years stuying this market and my confidence with my pattern recognition methode. I wish you sucess and keep learning (demo) and you will be ok.

BUT...
Trust yourself and be carefull in this jungle. It is your responsability to find out the way of your trading style.

Here are good traders with good strategies that you can learn from them. LOL, some times they do all the work and I just have to think less, but anyways I compare what they said and stick with my methode.

Good trading.
  • #64,729
  • May 8, 2008 5:08am May 8, 2008 5:08am
Quoting Carrera
Hey bro, congratulations.
But listen, I'm not perfect. Sucess came with proper MM.
Some are:
Lots per contracts
Know when to close part or all of your contract
Timing
Proper SL for MM.

You could have more losses than winnings and still been positive. If you noticed I was close to hit my stop lost many times, BUT, I didn't moved because that risk was calculated in my MM plan.
I have been doing ok, but is because the years stuying this market and my confidence with my pattern recognition methode. I wish you sucess and keep learning (demo) and you will be ok.

BUT...
Trust yourself and be carefull in this jungle. It is your responsability to find out the way of your trading style.

Here are good traders with good strategies that you can learn from them. LOL, some times they do all the work and I just have to think less, but anyways I compare what they said and stick with my methode.

Good trading.
i will..
  • #64,730
  • May 8, 2008 5:45am May 8, 2008 5:45am
wait for news coming. official bank rate by BOE. look price touch reverse low at est.
  • #64,731
  • May 8, 2008 5:56am May 8, 2008 5:56am
this is what my 15 minute chart looks like..
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  • #64,732
  • May 8, 2008 5:57am May 8, 2008 5:57am
removing stops for a minute incase of spikage
USD Est Non Mortuus
  • #64,733
  • May 8, 2008 6:01am May 8, 2008 6:01am
Quoting LuckyLurker
removing stops for a minute incase of spikage
As expected.. SL Back to BE9527 +5
USD Est Non Mortuus
  • #64,734
  • May 8, 2008 6:06am May 8, 2008 6:06am
someone wanna explain what happens when there no rate and what happens when there is? ..cause this looks like it falling
  • #64,735
  • May 8, 2008 6:07am May 8, 2008 6:07am
looks like it might of been priced.. I might get taken out at BE+5.. ohwell.. was worth it to hang on to it and see.
USD Est Non Mortuus
  • #64,736
  • May 8, 2008 6:08am May 8, 2008 6:08am
Quoting nAVIN2007
someone wanna explain what happens when there no rate and what happens when there is? ..cause this looks like it falling
not falling from my point of view, might look at buying some more if everything sets up
The quality of your life is brought about by the quality of your thinking.
  • #64,737
  • May 8, 2008 6:12am May 8, 2008 6:12am
1 vote from me .. falling GU
  • #64,738
  • May 8, 2008 6:14am May 8, 2008 6:14am
Nav, when they cut the rate, it's bad for the currency. If they raise the rate, it's good for the currency. Lowered interest rates ad inflation risk by increasing payrolls, etc. It is also a sign that the economy maybe is not doing very well. As an economy rebounds and gets better, the Central bank raises rates over and over again to slow the growth, and to ad a buffer for the eventual fall. There is A LOT more to this, but a forum just isn't the place for a long drawn out explaination.

Hope this helps,
C



Quoting nAVIN2007
someone wanna explain what happens when there no rate and what happens when there is? ..cause this looks like it falling
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  • #64,739
  • May 8, 2008 6:15am May 8, 2008 6:15am
I got stopped out at 1.9551 on Trailing SL on the remaining 40 lots I had open.
Back to the drawing board then...
The quality of your life is brought about by the quality of your thinking.
  • #64,740
  • May 8, 2008 6:15am May 8, 2008 6:15am
still looking good on the H4, well i think so anyway...i just took another long
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