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Cable Update (GBPUSD)

  • #65,941
  • May 14, 2008 8:07am May 14, 2008 8:07am
Quoting AmeriTrini
I think we have because there is a double bottom on the daily and COT data suggests that the pound is at a bearish extreme. Why do you say we haven't seen the bottom??
because if you look at the weekly, it tends to say we will test the price again...and if you look at the monthly it tends to say we will see 1.92 ish, but hey i am just a scalper
  • #65,942
  • May 14, 2008 8:07am May 14, 2008 8:07am
Got to respect a person with enough discipline to pass up a trade! Having the right rules, and FOLLOWING them, makes all the difference in the world.

Regards,
C

Quoting hornet
08.45 is an interesting trigger, for a short at 1.9456.

SL is 21 pips and rule says max 20, no trade.
{Promotion Removed}
  • #65,943
  • May 14, 2008 8:11am May 14, 2008 8:11am
Quoting ciscoguy
Got to respect a person with enough discipline to pass up a trade! Having the right rules, and FOLLOWING them, makes all the difference in the world.

Regards,
C
Nice to have rules and abide by them. Having said this, I still like the trigger at 08.45. It feels good.

It might work out but it's no big deal, if the good feeling and the rules match up then it's a green light otherwise I am happy to see it go the right way in terms of having recognized a tradable pattern in a non tradable context (because of rules).

If it doesn't work out it will prove once more that rules are a must.
The quality of your life is brought about by the quality of your thinking.
  • #65,944
  • May 14, 2008 8:13am May 14, 2008 8:13am
I agree Hornet, news wasn't that bad and it tested the last high twice and failed. I think we go down from here.

Quoting hornet
Nice to have rules and abide by them. Having said this, I still like the trigger at 08.45. It feels good.

It might work out but it's no big deal, if the good feeling and the rules match up then it's a green light otherwise I am happy to see it go the right way in terms of having recognized a tradable pattern in a non tradable context (because of rules).

If it doesn't work out it will prove once more that rules are a must.
  • #65,945
  • May 14, 2008 8:14am May 14, 2008 8:14am
Up 10 and moving stop to B/E
  • #65,946
  • May 14, 2008 8:16am May 14, 2008 8:16am
Quoting hornet
Nice to have rules and abide by them. Having said this, I still like the trigger at 08.45. It feels good.

It might work out but it's no big deal, if the good feeling and the rules match up then it's a green light otherwise I am happy to see it go the right way in terms of having recognized a tradable pattern in a non tradable context (because of rules).

If it doesn't work out it will prove once more that rules are a must.
man if i get out of this mess, i shall be so happy ...will write 10 rules and only enter if all is met ....1st rule will be go with the trend only..unless the bottom is sticking out like soar thumb
  • #65,947
  • May 14, 2008 8:18am May 14, 2008 8:18am
I've already made enough money for the day to meet my daily goal and will be passing up anything less than a sure thing. I'm going to spend most of the day on my sailboat. If one of my pairs hits a target fib, I'll get a text, go below, and place the trade. This is a GREAT business! I cannot imagine being allowed to work from my sailboat, with a nice Gray Goose martini, at the company that just laid me off! LOL

Quoting hornet
Nice to have rules and abide by them. Having said this, I still like the trigger at 08.45. It feels good.

It might work out but it's no big deal, if the good feeling and the rules match up then it's a green light otherwise I am happy to see it go the right way in terms of having recognized a tradable pattern in a non tradable context (because of rules).

If it doesn't work out it will prove once more that rules are a must.
{Promotion Removed}
  • #65,948
  • May 14, 2008 8:18am May 14, 2008 8:18am
it looks cable continue to bearish..place short..sounds impossible to hope cable goes north, the fundamental is not strong enough..
  • #65,949
  • May 14, 2008 8:19am May 14, 2008 8:19am
How many guys are long from the trend line bounce still? I would have imagine most of us have exited.
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  • #65,950
  • May 14, 2008 8:20am May 14, 2008 8:20am
My plan.
Attached Image (click to enlarge)
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  • #65,951
  • May 14, 2008 8:21am May 14, 2008 8:21am
Maybe the longs can get a bounce off the 89 here.
  • #65,952
  • May 14, 2008 8:21am May 14, 2008 8:21am
Quoting ciscoguy
I've already made enough money for the day to meet my daily goal and will be passing up anything less than a sure thing. I'm going to spend most of the day on my sailboat. If one of my pairs hits a target fib, I'll get a text, go below, and place the trade. This is a GREAT business! I cannot imagine being allowed to work from my sailboat, with a nice Gray Goose martini, at the company that just laid me off! LOL
The quality of your life is brought about by the quality of your thinking.
  • #65,953
  • May 14, 2008 8:29am May 14, 2008 8:29am
Did you send me your email, I can not do anything with just a private message.

Jim

Quoting hornet
  • #65,954
  • May 14, 2008 8:29am May 14, 2008 8:29am
there better not be a morning star developing on the daily ..
  • #65,955
  • May 14, 2008 8:31am May 14, 2008 8:31am
The hourly looks bullish if it can break that middle trend line

Attached Image
  • #65,956
  • May 14, 2008 8:37am May 14, 2008 8:37am
Need down time, this is driving me nuts...:timeout: See u guys later
  • #65,957
  • May 14, 2008 8:42am May 14, 2008 8:42am
Getting ready for work and dont have a lot of time, but yes it looks good because the stoploss would be minimal. It would be worth a shot. Cross is down though

Jim

Quoting Runway Trade
Sorry people. Jim would you long EJ now bouncing of the soomthy 5M?
  • #65,958
  • May 14, 2008 8:42am May 14, 2008 8:42am
Quoting nAVIN2007
man if i get out of this mess, i shall be so happy ...will write 10 rules and only enter if all is met ....1st rule will be go with the trend only..unless the bottom is sticking out like soar thumb
Nav,

Did you get out yet?
Expected the unexpected
  • #65,959
  • May 14, 2008 8:45am May 14, 2008 8:45am
Quoting scyang
Nav,

Did you get out yet?

no man ...i exit at 1.97 hopefully might take a week ...but it will go there
dont worry price is just retracing
  • #65,960
  • May 14, 2008 8:48am May 14, 2008 8:48am
Quoting nAVIN2007
no man ...i exit at 1.97 hopefully might take a week ...but it will go there
Ok. Hope it gets there for you. Why do you have to wait for 1.97? Did you enter very high?
Expected the unexpected
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