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Cable Update (GBPUSD)

  • #69,841
  • Jun 10, 2008 10:01am Jun 10, 2008 10:01am
Quoting Gubster
'Cable' is the uk GBP pound. Called this because the rates used to be transmitted via the trans-atlantic cabling betwwen the UK and US.
what signal you using to take position?
  • #69,842
  • Jun 10, 2008 10:06am Jun 10, 2008 10:06am
i take longer term positions. i dont trade using the forex platforms. i trade using curreny warrants. So i just look at the bigger picture and hopefully ride out the ups and downs on the way. I tried day trading but dont have the time to watch the market all day unless im off work.

I use the daily and weekly charts. Im in short on the GBP/USD and hopefully if it goes below 19510 i will be in the money.
  • #69,843
  • Jun 10, 2008 10:11am Jun 10, 2008 10:11am
Quoting Gubster
i take longer term positions. i dont trade using the forex platforms. i trade using curreny warrants. So i just look at the bigger picture and hopefully ride out the ups and downs on the way. I tried day trading but dont have the time to watch the market all day unless im off work.

I use the daily and weekly charts. Im in short on the GBP/USD and hopefully if it goes below 19510 i will be in the money.

but the weekly doesnt suggest down...does it?
just the downtrend suggest down.....monthly on the other hand says down...just didnt expect it to happen now ..but not b4 2.0062 is seen ..then short from there..thats what i was planning

the monthly chart has a great bearish pin.. 2.03 i say is the max likely to be seen and if that break s then id say trend is broken to uptrend

but what do u know....
  • #69,844
  • Jun 10, 2008 10:22am Jun 10, 2008 10:22am
the weekly is a downward channel.

the dam 19540 level!! its doing my nut in!! it needs to break it consistently!
so u are in long are you Nav. What level u hoping for?
  • #69,845
  • Jun 10, 2008 10:24am Jun 10, 2008 10:24am
hii..a possible trade on the eur/usd for long @1.5462 we might get over 50 pips , possible more,but its a bit of a aggresive trade.
  • #69,846
  • Jun 10, 2008 10:29am Jun 10, 2008 10:29am
Quoting Gubster
the weekly is a downward channel.

the dam 19540 level!! its doing my nut in!! it needs to break it consistently!
so u are in long are you Nav. What level u hoping for?
to be honest just like u ..i want to be a position trader..i dont want to be caught in this mess with stops being stoped all the time.

so i decided to play for area....conservative target is 1.9800..possible 2.00 but if 1.9800 come ill take it..i feel for this bottom to break a try to the top need to come and a rejection seen then....it will hapen (i think)
  • #69,847
  • Jun 10, 2008 10:33am Jun 10, 2008 10:33am
Quoting zweig
hii..a possible trade on the eur/usd for long @1.5462 we might get over 50 pips , possible more,but its a bit of a aggresive trade.

think u have to wait for 15430 before u go long on eur/usd. but i see the daily and weekly charts looking like a buy at that level.

but remember two fed members going to speak tmrw and they will surely reiterate a strong dollar policy
  • #69,848
  • Jun 10, 2008 10:49am Jun 10, 2008 10:49am
Quoting zweig
hii..a possible trade on the eur/usd for long @1.5462 we might get over 50 pips , possible more,but its a bit of a aggresive trade.
i just entered at 65 for 0.1 lot
im looking for easy 35 to 50 pips
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #69,849
  • Jun 10, 2008 10:50am Jun 10, 2008 10:50am
Navin:

Bro have you tried the 3 am candle technike? If yo do not know how this no brain tech works I can show you how to ude it . It has work for me very good and I am also a newbe.
  • #69,850
  • Jun 10, 2008 10:50am Jun 10, 2008 10:50am
Quoting salah k.
i just entered at 65 for 0.1 lot
im looking for easy 35 to 50 pips
problem is oil is falling pretty hard
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #69,851
  • Jun 10, 2008 10:51am Jun 10, 2008 10:51am
Quoting salah k.
i just entered at 65 for 0.1 lot
im looking for easy 35 to 50 pips
hope your stop loss is below 15430
  • #69,852
  • Jun 10, 2008 10:55am Jun 10, 2008 10:55am
Quoting Gubster
hope your stop loss is below 15430
its exactly at 430

but i closed it
cause it wasnt a good call and not well thought
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #69,853
  • Jun 10, 2008 11:00am Jun 10, 2008 11:00am
Quoting oscarfrx
Navin:

Bro have you tried the 3 am candle technike? If yo do not know how this no brain tech works I can show you how to ude it . It has work for me very good and I am also a newbe.
never heard of it...my advise to u is...

make a plan and stick to it regardless and overcome fear of the market if u have it....i found with me if i place a stop close i feel lot of tension ..so i have mental stops nows...and this helps if u get a signal to say yur wrong just cancel the trade
  • #69,854
  • Jun 10, 2008 11:22am Jun 10, 2008 11:22am
hi folks
I think chances of GBP/USD going south for today is minimal as in 1H chart bollingerbandwith bulge has gone to max. I try to buy around 1.9525-1.9520 for 25- 30 pips if it go down that much again for today, never know if USD/JPY break 107.50 maybe GBP will go south all depends on USD/JPY for today
BANDA333
  • #69,855
  • Jun 10, 2008 11:48am Jun 10, 2008 11:48am
hi guys hows u all , sal hows u man , infinity hows u bro hope u r doing well
i see the bottom , price may check again the 20 area then push up
not a call but my view
btw i missed a nice trade day today was outa home just came bk
good trade for all of you
  • #69,856
  • Jun 10, 2008 11:54am Jun 10, 2008 11:54am
Quoting warta
hi guys hows u all , sal hows u man , infinity hows u bro hope u r doing well
i see the bottom , price may check again the 20 area then push up
not a call but my view
btw i missed a nice trade day today was outa home just came bk
good trade for all of you
Hi Warta,

I am doing great! I hope all is well with you and your trades. I am long gu from 1.9520 and looking to add at 1.9500 based on this chart... I am looking for 100 pips first and then I may leave some to float. Take care my friend and good luck to you...
Attached Image (click to enlarge)
Click to Enlarge Name: gbp4.GIF Size: 26 KB
Patience + Discipline - Greed = Success
  • #69,857
  • Jun 10, 2008 11:55am Jun 10, 2008 11:55am
So if the FED sticks 0.25% on rates in the U.S. that's going to restore confidence in the U.S. ?????

25% of the word's oil bill is being paid by the U.S. and will the recipients of all those USD's keep their wealth in USD ? Would you ?

If you were borrowing USD to carry UK equities or bonds, would a 0.25% USD rate hike stop you doing it ?

Doesn't make sense

I have just had a massive fight with GM credit card to get my limit raised from 500 dollars to 2000 - it took a month of letters, emails and phone calls every night...

I have a very good credit score and two other credit cards with really good limits so I didn't need it - but I like to win and I dont like to be told NO - so I fought them for the hell of it until they gave way - I will cancel it next month because their foreign based customer service is appallingly bad

Just shows how scared the credit card companies are in the U.S. - they say that the hidden crunch in cards will be bigger than the housing repos when it comes
  • #69,858
  • Jun 10, 2008 12:19pm Jun 10, 2008 12:19pm
abouawah hows u hope ur trade is good aswell
i poster the indicators i dunno if u checked or not ?
  • #69,859
  • Jun 10, 2008 12:24pm Jun 10, 2008 12:24pm
Quoting warta
hi guys hows u all , sal hows u man , infinity hows u bro hope u r doing well
i see the bottom , price may check again the 20 area then push up
not a call but my view
btw i missed a nice trade day today was outa home just came bk
good trade for all of you
hey man its all good
thinking of going long but cable looks pretty week and not willing to retrace at least over 80
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #69,860
  • Jun 10, 2008 12:26pm Jun 10, 2008 12:26pm
Quoting salah k.
hey man its all good
thinking of going long but cable looks pretty week and not willing to retrace at least over 80
i think this candle likely end as a doji ...next one might be bullish to give morning star and we lift off!!!!!!!!!!!!!

wishfull thinking i know
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