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Cable Update (GBPUSD)

  • #65,321
  • May 12, 2008 8:42am May 12, 2008 8:42am
Well the trend has to change some time
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #65,322
  • May 12, 2008 8:44am May 12, 2008 8:44am
But lets make sure this isnt forming a double top on the lower lights.

Quoting Bones
Well the trend has to change some time
  • #65,323
  • May 12, 2008 8:45am May 12, 2008 8:45am
Quoting hornet
SL is 1 pip above the high, I entered at the close of the 11.10 candle giving me 1.9620
Thanks for the response. Do you suppose this pair could top at 1.9339 or 1.9660? I am feeling this is where it might give a nice retrace.
  • #65,324
  • May 12, 2008 8:47am May 12, 2008 8:47am
TP 1.9740
  • #65,325
  • May 12, 2008 8:48am May 12, 2008 8:48am
Remains locked in bear channel since positing highs by 2.0400 back in March. Setbacks have now reached 1.9445 thus far ahead of the latest bounce back above 1.9600. There is scope for additional gains in the short-term but a lower top is ultimately sought out in the 1.9800 area ahead of a resumption of setbacks and retest of the yearly lows by 1.9340. From DAILYFX
end
  • #65,326
  • May 12, 2008 8:53am May 12, 2008 8:53am
Quoting Runway Trade
Long at 1.9620 (not joking with anyone) Small up trend, up day, broke channel line, and above th 50% Fibo. I think we are going to 1.9680
I am with you. SL 1,9560.
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #65,327
  • May 12, 2008 9:02am May 12, 2008 9:02am
Quoting nAVIN2007
selling at resistance with out confirmation..that is not erratic?
Who says i don't have confirmations ?

My rules are met and I entered, can't win them all but for now I am in profit.

If not, no big deal....anything can happen so, i won't be surprised if I get stopped out.
The quality of your life is brought about by the quality of your thinking.
  • #65,328
  • May 12, 2008 9:04am May 12, 2008 9:04am
Quoting hornet
Who says i don't have confirmations ?

My rules are met and I entered, can't win them all but for now I am in profit.

If not, no big deal....anything can happen so, i won't be surprised if I get stopped out.
what confirmation is there to short there other than r2 level ..just asking as i can learn something...
  • #65,329
  • May 12, 2008 9:04am May 12, 2008 9:04am
Quoting maverick
Thanks for the response. Do you suppose this pair could top at 1.9339 or 1.9660? I am feeling this is where it might give a nice retrace.
i don't know where it will go, for now i am short. I will stay short until:

1) see something that will make me exit
2) get stopped out
or
3) get limited out at a nice profit if i am away from the screen
The quality of your life is brought about by the quality of your thinking.
  • #65,330
  • May 12, 2008 9:06am May 12, 2008 9:06am
Quoting nAVIN2007
what confirmation is there to short there other than r2 level ..just asking as i can learn something...
just me, my trading style and my rules....i did say that i use gut a lot.
The quality of your life is brought about by the quality of your thinking.
  • #65,331
  • May 12, 2008 9:07am May 12, 2008 9:07am
Quoting hornet
Short at 1.9620
I think your a bit premature with this short. Even now we in an uptrend.

We have to break 1.9600 as far as I'm concern fi say yea sell dat.

The trend is my friend till it bends.
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  • #65,332
  • May 12, 2008 9:08am May 12, 2008 9:08am
The only issue I have is time of day, I don't usually open positions at this time
The quality of your life is brought about by the quality of your thinking.
  • #65,333
  • May 12, 2008 9:09am May 12, 2008 9:09am
This thing is NOT going to 9740, 9700. I know it has to resume anytime now. Lets see if it breaks the uptrend its in. I just noticed a subtle nesting dove on the 1 hr, ever heard of that. Let me show you cause that is right where it stopped and then retested. Its in the grey rectangle.

Quoting hornet
Who says i don't have confirmations ?

My rules are met and I entered, can't win them all but for now I am in profit.

If not, no big deal....anything can happen so, i won't be surprised if I get stopped out.
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  • #65,334
  • May 12, 2008 9:11am May 12, 2008 9:11am
Quoting hornet
just me, my trading style and my rules....i did say that i use gut a lot.
it looks like a good call .....this is why i asked i thought maybe u might have had a moving average hit or something...
  • #65,335
  • May 12, 2008 9:11am May 12, 2008 9:11am
See the double top formed and its trying to break the UTL
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  • #65,336
  • May 12, 2008 9:12am May 12, 2008 9:12am
Quoting hornet
i don't know where it will go, for now i am short. I will stay short until:

1) see something that will make me exit
2) get stopped out
or
3) get limited out at a nice profit if i am away from the screen
Nice strategy ! If I have full time to trade I'll adopt your strategy. Good Luck !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #65,337
  • May 12, 2008 9:14am May 12, 2008 9:14am
Ah what a nice way to wake up - my buy limit got triggered at 1.9450, sitting just over 1.9616 closed.

Haha and my sell limit got triggered 1.9630 which i'm watching dropping slowly!

Great way to start the week!
  • #65,338
  • May 12, 2008 9:15am May 12, 2008 9:15am
Quoting manize
Nice strategy ! Good Luck !
We don't need luck.

Several months ago a reporter was interviewing Putin, the president of Russia, and at the end of the interview the reporter said "Good luck". Putin responded, "Luck is for fools, we work hard".
The quality of your life is brought about by the quality of your thinking.
  • #65,339
  • May 12, 2008 9:15am May 12, 2008 9:15am
May get evening star on the 1 hr, we wait and see. your right to late to enter, but never to late to add to a short.
  • #65,340
  • May 12, 2008 9:23am May 12, 2008 9:23am
Quoting hornet
We don't need luck.

Several months ago a reporter was interviewing Putin, the president of Russia, and at the end of the interview the reporter said "Good luck". Putin responded, "Luck is for fools, we work hard".
Nice spirit !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
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