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Cable Update (GBPUSD)

  • #71,861
  • Jun 23, 2008 2:06am Jun 23, 2008 2:06am
Quoting eohater
If we test 1.9700 again and can't break it, I think your right!
we it breaks the s1 level then im wrong and target likely will be 1.96...looking at the weekly this coiuld actually tank...as the bullish candle b4 went right to the top of the channel..

yes like i said conflicted signal .......moving down cause of the diverence bearish on 15 minute chart...
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  • #71,862
  • Jun 23, 2008 2:13am Jun 23, 2008 2:13am
Quoting eohater
Becareful, I just closed my shorts from 1.9758 and 1.9722. We could see it whiplash upwards...like it's doing as I type this
ugh! I hate it when I close out too early! Only thing I did right was follow my original plan
Just digging in the trenches like everyone else!
  • #71,863
  • Jun 23, 2008 2:15am Jun 23, 2008 2:15am
Quoting nAVIN2007
we it breaks the s1 level then im wrong and target likely will be 1.96...looking at the weekly this coiuld actually tank...as the bullish candle b4 went right to the top of the channel..

yes like i said conflicted signal .......moving down cause of the diverence bearish on 15 minute chart...
I agree it was a conflicting signal, thus why I closed early!
Just digging in the trenches like everyone else!
  • #71,864
  • Jun 23, 2008 2:16am Jun 23, 2008 2:16am
if theres one thing that i could advise from my exp with cable, is not to trade based on candle forms esp from the hourly. (Im not saying pins dont work, but they do fail very often too, nevertheless these are still oppurtunities)

Its waveforms are usually quite predictable and of course cable's streching points are usually good indicators too. IMO it would be the easiest pair to trade.
  • #71,865
  • Jun 23, 2008 2:17am Jun 23, 2008 2:17am
Quoting eohater
ugh! I hate it when I close out too early! Only thing I did right was follow my original plan

one of those moments where it could go up......this is why when u see a bullish pin it needs confirmation everything else was saying down....

i wanted to short but i thought might be going up....missed the boat...
  • #71,866
  • Jun 23, 2008 2:18am Jun 23, 2008 2:18am
Quoting eohater
Protect the profit!
Maybe I am right she will go more down to at least 1.9600, but because I should go for offline business I closed my shor with 65 pips ---> a bit less 3.5% profit. Happy trading all. See 6 hours next !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #71,867
  • Jun 23, 2008 2:22am Jun 23, 2008 2:22am
It's been a pleasure everyone! Time for me to get some sleep!
Just digging in the trenches like everyone else!
  • #71,868
  • Jun 23, 2008 2:22am Jun 23, 2008 2:22am
Quoting manize
Maybe I am right she will go down, but because I should go for offline business I closed my shor with 65 pips ---> a bit less 3.5% profit. Happy trading all. See 6 hours next !
Good trade!
Just digging in the trenches like everyone else!
  • #71,869
  • Jun 23, 2008 2:26am Jun 23, 2008 2:26am
Quoting manize
Maybe I am right she will go more down to at least 1.9600, but because I should go for offline business I closed my shor with 65 pips ---> a bit less 3.5% profit. Happy trading all. See 6 hours next !
your always right when u close the profits in
  • #71,870
  • Jun 23, 2008 2:27am Jun 23, 2008 2:27am
next target 1.9620
  • #71,871
  • Jun 23, 2008 2:44am Jun 23, 2008 2:44am
Hi, everyone i have already gone short but i believe that it will break thru that 9720. lets watch and see. God bless u.
  • #71,872
  • Jun 23, 2008 2:44am Jun 23, 2008 2:44am
this currency just doesnt want to see 1.99 at least...it crazy, keeps pushing down....
  • #71,873
  • Jun 23, 2008 2:50am Jun 23, 2008 2:50am
Quoting roslan1984
next target 1.9620

Would you care to clarify why that particular level?
  • #71,874
  • Jun 23, 2008 2:52am Jun 23, 2008 2:52am
Quoting nAVIN2007
one of those moments where it could go up......this is why when u see a bullish pin it needs confirmation everything else was saying down....

i wanted to short but i thought might be going up....missed the boat...
hi navin,

allow me to point out something.
Theres no boat. you din miss anything. Would it be fair to say that your were confused?

You allowed the pin to cloud your perceptions, thus there was an anticipating streak which was second guessing the possibility of cable going up. Dun be too worked up over it buddy, you din miss anything. If you were truly confused, (exampled from your quoted message) staying out would have been the best trade you made.
  • #71,875
  • Jun 23, 2008 2:56am Jun 23, 2008 2:56am
this is my next target

I think if it break 1.9675 next level is 1.9620
  • #71,876
  • Jun 23, 2008 2:56am Jun 23, 2008 2:56am
Quoting jest1081
if theres one thing that i could advise from my exp with cable, is not to trade based on candle forms esp from the hourly. (Im not saying pins dont work, but they do fail very often too, nevertheless these are still oppurtunities)

Its waveforms are usually quite predictable and of course cable's streching points are usually good indicators too. IMO it would be the easiest pair to trade.
Great observation, I like to call them "triangle waves" - the price goes up and comes down - forming a triangular shape, and to add-on to this, g/u adheres and moves from/to trend lines and S&R levels quite strictly too for its volatility. Right now, it's resting on the weekly pivot 1.9667.
Trade the reaction, not the news!
  • #71,877
  • Jun 23, 2008 2:59am Jun 23, 2008 2:59am
Enter 1/3 long GU at 1.9657 and pending 1/3 at 1.9626 (if it ever get there), and last 1/3 set at 1.9583, targeting 1.9860
STL at 1.9550
  • #71,878
  • Jun 23, 2008 3:07am Jun 23, 2008 3:07am
Quoting jest1081
hi navin,

allow me to point out something.
Theres no boat. you din miss anything. Would it be fair to say that your were confused?

You allowed the pin to cloud your perceptions, thus there was an anticipating streak which was second guessing the possibility of cable going up. Dun be too worked up over it buddy, you din miss anything. If you were truly confused, (exampled from your quoted message) staying out would have been the best trade you made.
yes absolutely...i never entered cause was confused about where cable is heading..i havent traded for 1 week now and i dont want to enter the market unless i get a great signal ...
i been down the road of over trading and it only leads to losses in my case..so not keen on taking that path

yes yur right i havent missed a boat as theres many to come still
  • #71,879
  • Jun 23, 2008 3:09am Jun 23, 2008 3:09am
Quoting nAVIN2007
yes absolutely...i never entered cause was confused about where cable is heading..i havent traded for 1 week now and i dont want to enter the market unless i get a great signal ...
i been down the road of over trading and it only leads to losses in my case..so not keen on taking that path

yes yur right i havent missed a boat as theres many to come still

well navin u r not alone outa market i just wake up and missed this move but its not the end lets wait till we get the next entry
good luck all
  • #71,880
  • Jun 23, 2008 3:17am Jun 23, 2008 3:17am
Quoting warta
well navin u r not alone outa market i just wake up and missed this move but its not the end lets wait till we get the next entry
good luck all
yeah ....actually im not affected by missing the move.....but have reluctance for shorting despite being in longer term downtrend...i cant see the long going anywhere so if i buy im looking for a great low...and good signal (candle formation)
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