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Cable Update (GBPUSD)

  • #65,561
  • May 13, 2008 5:51am May 13, 2008 5:51am
Quoting hard1head1
Has anyone seen the dude that came in and asked if anyone was placing money on the guesses that were coming out in this room. Why don't he help out instead of criticizing. I thought that was rude.
I was going to mention that when he said it +_5 pages back. I really don’t know why people need to make comments like that. I you don’t have anything to add keep quite
By the way I closed my long from last week -110. When cable hit the high and started coming back I had enough. Live to fight another day. Now I will only trade when my rules apply, promise!
  • #65,562
  • May 13, 2008 5:52am May 13, 2008 5:52am
Quoting hard1head1
Has anyone seen the dude that came in and asked if anyone was placing money on the guesses that were coming out in this room. Why don't he help out instead of criticizing. I thought that was rude.
Who is this one particular person?
  • #65,563
  • May 13, 2008 5:52am May 13, 2008 5:52am
Again, I will not give out the name of my teacher thru private messages, you must leave me an email to contact.
  • #65,564
  • May 13, 2008 5:53am May 13, 2008 5:53am
I remember seeing the post, but cant find it now.

Quoting maverick
Who is this one particular person?
  • #65,565
  • May 13, 2008 5:57am May 13, 2008 5:57am
Morning Guys I slept like a log yesterday. I did even get a chance to return to the market after my SL was triggered but thats that. I am here now.

I noticed an almost 100% retrace and we had some good news during the morning.

I am still catching my bearings but I see alot of green from the fundies....
  • #65,566
  • May 13, 2008 6:00am May 13, 2008 6:00am
30 Min chart showing a rough pair of tweezers, and a doji. Yea, I think we may be turning bullish. Could be wrong. If you are looking at the lower lights, you may see the 5,15 go form a double bottom, so nobody pannick if it drops 20 pips here. I see that as an opportunity to squeese more out of the market.
  • #65,567
  • May 13, 2008 6:03am May 13, 2008 6:03am
Quoting Doose
Morning Guys I slept like a log yesterday. I did even get a chance to return to the market after my SL was triggered but thats that. I am here now.

I noticed an almost 100% retrace and we had some good news during the morning.

I am still catching my bearings but I see alot of green from the fundies....
i wish i was asleep ....good news came for gpb anf the spike spike and went down taking me with it ...lol
lost all my profit and then some ..now just lost in this market ..its a coin toss
  • #65,568
  • May 13, 2008 6:07am May 13, 2008 6:07am
These are nice here. Cant get much better.
Attached Image (click to enlarge)
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  • #65,569
  • May 13, 2008 6:14am May 13, 2008 6:14am
That was sweet the way it started pushing up after those tweezer bottoms. But its only a 5 min Tf. But it may jumpstart it going. You can learn a lot from those subtle little signs. But When I started out they all looked the same to me, but now I can usually tell the dif.
  • #65,570
  • May 13, 2008 6:15am May 13, 2008 6:15am
hard1head1,

Is your green moving average an 89 sma?
  • #65,571
  • May 13, 2008 6:17am May 13, 2008 6:17am
Nav, follow the overall trend. The news today should not have been considered enough to cause a fundamental shift in relative value of GBP and USD. Just a spike. I had a short position, and left it opened (I just widened my stop). I placed a buy order on release of the news, and closed it out for a tidy profit. You can trust that Cable is SHORT until the chart confirms a change to Bull. Now, I am placing a SMALL long order with a tight stop loss. But i don't see that lasting beyond about 1.9541 - 1.9563. We'll see. But, by this time, the price has gone up too far for a good R/R ratio. Your stop would be too far away to risk.

Regards,
C

Quoting nAVIN2007
i wish i was asleep ....good news came for gpb anf the spike spike and went down taking me with it ...lol
lost all my profit and then some ..now just lost in this market ..its a coin toss
{Promotion Removed}
  • #65,572
  • May 13, 2008 6:21am May 13, 2008 6:21am
Quoting ciscoguy
Nav, follow the overall trend. The news today should not have been considered enough to cause a fundamental shift in relative value of GBP and USD. Just a spike. I had a short position, and left it opened (I just widened my stop). I placed a buy order on release of the news, and closed it out for a tidy profit. You can trust that Cable is SHORT until the chart confirms a change to Bull. Now, I am placing a SMALL long order with a tight stop loss. But i don't see that lasting beyond about 1.9541 - 1.9563. We'll see. But, by this time, the price has gone up too far for a good R/R ratio. Your stop would be too far away to risk.

Regards,
C
good advise ...thx man
  • #65,573
  • May 13, 2008 6:23am May 13, 2008 6:23am
Quoting hard1head1
Hope this helps
Thanks for the help
I am not looking for help thansk anyway, but I am just trying to point out that any one that is long is not against the trend. Neither any that is short depending on perspective.

Short term perspective short is exhusted. there are more rooms for long, at least for those looking beyond daily up to weekly.
  • #65,574
  • May 13, 2008 6:25am May 13, 2008 6:25am
LONDON (Thomson Financial) - The crisis in money markets suppressed mortgage lending further in March, with loan numbers almost halving compared with a year ago, an industry body said. The Council of Mortgage Lenders (CML) said the number of mortgage loans for house purchase fell to 46,500, down 48 percent on the same month in 2007 when there were 89,000 loans issued. .....
I think that this might have something to do with the sharp drop after green news for UK
  • #65,575
  • May 13, 2008 6:25am May 13, 2008 6:25am
Ok, I took the risky way with 2 minis and a very small stoploss which is now a good 40 pips below the price right now. Its looking good but WE ARE AGAINST THE "IMMEDIATE" TREND. I will ride this status quo until 1 of 2 things happen, I get stopped out or price crosses the DPP and retests, and at that point I will add 6 minis with a stop below the 89 Smoothy. I will look for a target later because this is against the trend and it may start peeing all over itself before it really gets started.. This is a trade that could end up as one of the 15% bad calls....LOL

Jim
  • #65,576
  • May 13, 2008 6:26am May 13, 2008 6:26am
Its cool, thanks....we are just trying to help.

Quoting fxbroker
Thanks for the help
I am not looking for help thansk anyway, but I am just trying to point out that any one that is long is not against the trend. Neither any that is short depending on perspective.

Short term perspective short is exhusted. there are more rooms for long, at least for those looking beyond daily up to weekly.
  • #65,577
  • May 13, 2008 6:29am May 13, 2008 6:29am
Looks like we are getting some tweezer tops on the 30. Like I said, it could come back down.
  • #65,578
  • May 13, 2008 6:32am May 13, 2008 6:32am
I bailed on the 30 Min tweezertops, remember, the larger TF's rule the roost.

Quoting hard1head1
Ok, I took the risky way with 2 minis and a very small stoploss which is now a good 40 pips below the price right now. Its looking good but WE ARE AGAINST THE "IMMEDIATE" TREND. I will ride this status quo until 1 of 2 things happen, I get stopped out or price crosses the DPP and retests, and at that point I will add 6 minis with a stop below the 89 Smoothy. I will look for a target later because this is against the trend and it may start peeing all over itself before it really gets started.. This is a trade that could end up as one of the 15% bad calls....LOL

Jim
  • #65,579
  • May 13, 2008 6:32am May 13, 2008 6:32am
oh so basically I believe is to begin however the entry isnt ideal as I think 1.9450 area is the place to enter. So much for that.

I could hope that it test that area again but it may not happen.

Hmmmm.. Interesting morning. I read the last 5 pages or so.

Nav I was about to take my laptop out and check the market (which was 8 hours ago) only to wake this morning.

Now I am looking to long.
  • #65,580
  • May 13, 2008 6:37am May 13, 2008 6:37am
Quoting hard1head1
I bailed on the 30 Min tweezertops, remember, the larger TF's rule the roost.
You bailed out of the long position or short position?
Expected the unexpected
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