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Cable Update (GBPUSD)

  • #65,641
  • May 13, 2008 8:51am May 13, 2008 8:51am
Quoting DJ4x
Actually u can just go back to work..... this is a disaster today

yeah we canceled the old long and bought new ones im in more trouble than what i was last week...

  • #65,642
  • May 13, 2008 8:51am May 13, 2008 8:51am
P-A-T-I-E-N-C-E!!!!!
  • #65,643
  • May 13, 2008 8:52am May 13, 2008 8:52am
Quoting hornet
could be but, if that's the case, why go long at

1.9620
1.9575
1.9550
1.9500

those are not bottoms !

1.9455 looks like a respectable bottom.

IMO - let's see what happens
  • #65,644
  • May 13, 2008 8:54am May 13, 2008 8:54am
Every such a weak Downtrend currently so longs are in advisable.

9485 then 9510 are key to take out to reverse this trend, no long for me until atleast the first ones taken out.


Patience is KEY!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #65,645
  • May 13, 2008 8:55am May 13, 2008 8:55am
1.9400 here we come !!!

The quality of your life is brought about by the quality of your thinking.
  • #65,646
  • May 13, 2008 8:55am May 13, 2008 8:55am
Quoting nomask
because...look at the 4 hr charts (i remember people finding less noisy 4 hr tf..lol)..if you guys didnt blow out your account during this period you can count yourself at least "not bad" trader...
first chart recent weeks..and second regular cable weeks...
there were times trading was the way easier than these days..(nice old times)
yes i agree with u ...trading since i start become soooo much harder..i wonder what role i play in this...just kidding, it really has become a beast
  • #65,647
  • May 13, 2008 8:55am May 13, 2008 8:55am
I am seeing Evening Stars on both the 15 & 30 Minute charts. Thngs are looking more and more bearish. But you cant ignore that 3 bottom level of support. Thats what we are waiting for. No entry can or should be made until we get a break.
  • #65,648
  • May 13, 2008 8:55am May 13, 2008 8:55am
Quoting maverick
1.9455 looks like a respectable bottom.

IMO - let's see what happens
All you get for picking bottoms is smelly fingers be warned
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #65,649
  • May 13, 2008 8:57am May 13, 2008 8:57am
I am pissed, this PM just ignore everything I type pls....


The quality of your life is brought about by the quality of your thinking.
  • #65,650
  • May 13, 2008 8:57am May 13, 2008 8:57am
the UK house price fall is just a correction after years of unprecedented gains. This does not mean the economy is faultering. We are not in stagflation!! The property price is coming back down to where it should have been.

Cable will rise as its hit its bottom for today. target 19800
  • #65,651
  • May 13, 2008 8:57am May 13, 2008 8:57am
breaking ....... !!
  • #65,652
  • May 13, 2008 8:58am May 13, 2008 8:58am
sterling tricky at moment, realised from todays price action that interest rate differentials not playing the part, BoE unlikely to hike in distant future, cable pricing in more cuts, Capital appreciation is the underlying tone of this market with prior "hot money flows" coming from abroad unwinding now with looming UK slowdown.... so the fundamentals are not bullish, inflation is high but that does not ensure rate hikes since MPC can not control that (alot of inflation is imported)
Trading is 80% Emotional, 20% Technical
  • #65,653
  • May 13, 2008 8:58am May 13, 2008 8:58am
i feel like i'm the only one short on this board!
  • #65,654
  • May 13, 2008 9:00am May 13, 2008 9:00am
Interesting way of putting it.
  • #65,655
  • May 13, 2008 9:00am May 13, 2008 9:00am
Now, was that hard??
  • #65,656
  • May 13, 2008 9:00am May 13, 2008 9:00am
Glad I Took The Loss When I Did!!!!
  • #65,657
  • May 13, 2008 9:01am May 13, 2008 9:01am
Quoting rallik
i feel like i'm the only one short on this board!
Impressed, your in the 2% on here that are profitable then

Don't mock it!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #65,658
  • May 13, 2008 9:03am May 13, 2008 9:03am
bottom of bearish channel is 1.9415 - we may tap that and see a retrace back to 1.945 to test
  • #65,659
  • May 13, 2008 9:03am May 13, 2008 9:03am
In this room, it could be true. Im in at the break and sold 1 standard, pulled 8 minis off for a quick profit, gonna leave the rest run with a 35 pip trail.

Quoting rallik
i feel like i'm the only one short on this board!
  • #65,660
  • May 13, 2008 9:04am May 13, 2008 9:04am
Quoting AmeriTrini
Glad I Took The Loss When I Did!!!!
same here, cut N reverse would have good plan...
Trading is 80% Emotional, 20% Technical
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