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Cable Update (GBPUSD)

  • #65,801
  • May 14, 2008 1:30am May 14, 2008 1:30am
Quoting nAVIN2007
i certainly hope so, i really hope this daily candle ends bullish then might breakout of this sh*thole, doubt it thou...
Navin my stop Loss hit, 13.5 % loss. Cable still move up and down in the unknown area at H4. I hope reach your enter level.
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #65,802
  • May 14, 2008 1:33am May 14, 2008 1:33am
Uh-oh... this doesn't look good. Closed my long at a loss and will wait to re-enter below 1.94
  • #65,803
  • May 14, 2008 1:35am May 14, 2008 1:35am
i cant believe the figure were that bad ..this is nuts
  • #65,804
  • Edited 1:41am May 14, 2008 1:38am | Edited 1:41am
Quoting ForexRookie
Thanks Doose, i forgot to mention that in my post.
No prob but u wont get confirmation on that morning start till the next 27 mins. so its a bit early to say. Its looking that way.
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  • #65,805
  • May 14, 2008 1:38am May 14, 2008 1:38am
Quoting nAVIN2007
this thing going to wipe out my account ....i dont get it at all ..
If it is your real account I feel sorry for you, there are many hard lessons to learn in trading. Have you been trading demo or very small lots on the real acc. Cable is likely to try the support @ 9370 before it will turn up. I am not even trying to catch the bottom.
Apart from James16 thread there are few good threade on this forum, like Phillip Nel two systems or cornflower by Lever70, or elite, where the price action and rythm is given prominance.
Happy trading,
2be
Make sure losses are small and profits are bigger!
  • #65,806
  • May 14, 2008 1:38am May 14, 2008 1:38am
Quoting nAVIN2007
i cant believe the figure were that bad ..this is nuts
Can only now hope for high inflation figures to send cable up!
  • #65,807
  • May 14, 2008 1:41am May 14, 2008 1:41am
Trend is down......always for now.
  • #65,808
  • May 14, 2008 1:43am May 14, 2008 1:43am
Quoting nAVIN2007
i cant believe the figure were that bad ..this is nuts
You may get saved by the upcoming inflation report which could highlight the severity of the problem in U.K.
  • #65,809
  • May 14, 2008 1:43am May 14, 2008 1:43am
Quoting 2be
If it is your real account I feel sorry for you, there are many hard lessons to learn in trading. Have you been trading demo or very small lots on the real acc. Cable is likely to try the support @ 9370 before it will turn up. I am not even trying to catch the bottom.
Apart from James16 thread there are few good threade on this forum, like Phillip Nel two systems or cornflower by Lever70, or elite, where the price action and rythm is given prominance.
Happy trading,
2be

yes real account and yes big lesson learned..broke the major rule buy or selling against the trend...i still think it will go up thou ..

technically...im going to hold thou regardless...
  • #65,810
  • May 14, 2008 1:47am May 14, 2008 1:47am
Quoting Doose
No prob but u wont get confirmation on that morning start till the next 27 mins. so its a bit early to say. Its looking that way.
Ok, that morning star was obviously short lived. It's been turned on its butt! The stinkin' news!!

Quote
Can only now hope for high inflation figures to send cable up!

You're definitely right about that, i'm still going to hold on to my long. I said yesterday i hope i don't end up regretting it, i think i'm beginning to, lol.
"The trend is your friend, until the end."
  • #65,811
  • May 14, 2008 1:50am May 14, 2008 1:50am
Quoting ForexRookie
Ok, that morning star was obviously short lived. It's been turned on its butt! The stinkin' news!!



You're definitely right about that, i'm still going to hold on to my long. I said yesterday i hope i don't end up regretting it, i think i'm beginning to, lol.
how low can it actually go ..it wont remain at the low levels..we will have a chance to get out im sure.....just have to wait ..

where did u enter?
  • #65,812
  • May 14, 2008 1:56am May 14, 2008 1:56am
Quoting nAVIN2007
how low can it actually go ..it wont remain at the low levels..we will have a chance to get out im sure.....just have to wait ..

where did u enter?
It can't be any lower than what we've already seen, at least for the moment. I entered at 1.9464, but traded in small lots, and you?
"The trend is your friend, until the end."
  • #65,813
  • May 14, 2008 1:56am May 14, 2008 1:56am
Watch out - this is sure to get incredibly choppy as there's no single headline number with this release.
  • #65,814
  • May 14, 2008 1:59am May 14, 2008 1:59am
Quoting ForexRookie
It can't be any lower than what we've already seen, at least for the moment. I entered at 1.9464, but traded in small lots, and you?
1.9481, 1.9553 and 1.9561

3 mini lots...

i just have to wait it out and not add to positions...it looks to me as if its all priced in ..
  • #65,815
  • May 14, 2008 2:01am May 14, 2008 2:01am
Quoting ForexRookie
Ok, that morning star was obviously short lived. It's been turned on its butt! The stinkin' news!!
ok so we got the morning star....on the 1 hour.
  • #65,816
  • May 14, 2008 2:05am May 14, 2008 2:05am
It looks like it wants to go up a little, maybe just above 1.9500
The quality of your life is brought about by the quality of your thinking.
  • #65,817
  • May 14, 2008 2:09am May 14, 2008 2:09am
I believe we will go down.

Big boys already know what will happen, so they shorted since 2 days ago.

On higher time frames we will go down. I'm holding shorts.
  • #65,818
  • May 14, 2008 2:10am May 14, 2008 2:10am
Quoting hornet
It looks like it wants to go up a little, maybe just above 1.9500

if it goes that high that be wonderfull i doubt it will come down then ..62 ema is closing in on the price not sure how good or bad that is
  • #65,819
  • May 14, 2008 2:15am May 14, 2008 2:15am
Quoting uncleforex
I believe we will go down.
oh yes but, in a small TF it might retrace to about 1.9500. Then again, anything can happen. This is why it's so good to trade the forex.
The quality of your life is brought about by the quality of your thinking.
  • #65,820
  • May 14, 2008 2:19am May 14, 2008 2:19am
Quoting hornet
oh yes but, in a small TF it might retrace to about 1.9500. Then again, anything can happen. This is why it's so good to trade the forex.
OK

But on big tf such as H4 and daily, we could go to 1.9200s

But I believe there will be some bounce around 1.9340s but I do not think it will up high.

USD has been strong this month.
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