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Cable Update (GBPUSD)

  • #73,401
  • Jun 30, 2008 7:49am Jun 30, 2008 7:49am
Quoting acidguy
wth going on with gbp, seems like many investors are loving the bad data from uk...

bad, awfull, close to recessionary data, shouldnot mean, weak currency????....
What bad data? Am i losing out something? I thought i could go slep juz now, but i jump off from my bed when see my trade is no more.

Any news came out juz now? FF didn't have it???
  • #73,402
  • Jun 30, 2008 7:49am Jun 30, 2008 7:49am
Quoting System6
This GU makes me numb. Takes 3 hours to move down 50 pips and takes it back in 10 seconds.
Well i think easy come easy go for me i still see Cable go down...
  • #73,403
  • Jun 30, 2008 7:50am Jun 30, 2008 7:50am
Quoting acidguy
wth going on with gbp, seems like many investors are loving the bad data from uk...

bad, awfull, close to recessionary data, shouldnot mean, weak currency????....
it is that trend coming on from down, that have made support line twice before,
this was the third test.
  • #73,404
  • Jun 30, 2008 7:51am Jun 30, 2008 7:51am
Quoting Abuawad
Cleaning some Stop loss
abuawad may I request you point of view about this pair?
  • #73,405
  • Jun 30, 2008 7:53am Jun 30, 2008 7:53am
Quoting B@by trader
abuawad may I request you point of view about this pair?
On my chart the 4H candle still not closing under 1.9929, once it close below then we can see 1.9850 & 1.9800
if not i think it'll test the upper targets and resistant line
  • #73,406
  • Jun 30, 2008 7:54am Jun 30, 2008 7:54am
Quoting NuB
I was wondering how you guys read your charts do you wait for the close of candles or do you act on all jerks in the market?
I only go for 20-30pips per trade. When it starts getting bounce at my pip profits I take it and run and wait for new signal. I have not got the stomach to wait for 100pips. If it goes 50-60+pips then down to 20+pip I want to start crying as it might never get back to 60-100. So bigger lots as my account allows max 5%, with small pips per trade. target is to get to 10standard lot which should = 2-3k per trade. 2-3 of those a week and I'll be happy. R8-1$ exchange rate makes the difference!
  • #73,407
  • Jun 30, 2008 7:54am Jun 30, 2008 7:54am
Soybean and Corn Data came out and caused that spike. DAMN DAMN DAMN
Don't Get Bitter, Get Better
  • #73,408
  • Jun 30, 2008 7:54am Jun 30, 2008 7:54am
Quoting Abuawad
tq abuawad
  • #73,409
  • Jun 30, 2008 7:55am Jun 30, 2008 7:55am
that sucks, my sl was too tight, short again
  • #73,410
  • Jun 30, 2008 7:56am Jun 30, 2008 7:56am
I think GBP is oversold for the last few days, eg GBP/JPY already dropped 450 pips. People tend to book profit, today is 2nd Quater last trading day.
  • #73,411
  • Jun 30, 2008 7:57am Jun 30, 2008 7:57am
  •  System6
  • | Joined Feb 2008 | Status: Aim at nothing and you will hit it | 23 Posts
Quoting Abuawad
Well i think easy come easy go for me i still see Cable go down...
Thanks. I'm still in the trade, didn't hit my SL. I'll hang on to it to see what happens.
  • #73,412
  • Jun 30, 2008 7:57am Jun 30, 2008 7:57am
Quoting NuB
Soybean and Corn Data came out and caused that spike. DAMN DAMN DAMN
Why the GBP has to do with these Soybean and Corn?
  • #73,413
  • Jun 30, 2008 7:58am Jun 30, 2008 7:58am
Quoting NuB
Soybean and Corn Data came out and caused that spike. DAMN DAMN DAMN
Bro, can show me the link? I muz know this. Avoid this next time..... Or it was juz a joke? Sorry ya, not a good english -er
  • #73,414
  • Jun 30, 2008 7:58am Jun 30, 2008 7:58am
Quoting mphpopular
What bad data? Am i losing out something? I thought i could go slep juz now, but i jump off from my bed when see my trade is no more.

Any news came out juz now? FF didn't have it???
nah, just these little pieces of data...

http://i26.tinypic.com/dm9s7l.jpg
  • #73,415
  • Jun 30, 2008 7:59am Jun 30, 2008 7:59am
Quoting mktjong
It's just the way NY greets new trading Monday, flushing all stops before the real trend comes to play ..
Is the bias still for Bears to take over from here?
  • #73,416
  • Jun 30, 2008 8:00am Jun 30, 2008 8:00am
Quoting Runway Trade
I only go for 20-30pips per trade. When it starts getting bounce at my pip profits I take it and run and wait for new signal. I have not got the stomach to wait for 100pips. If it goes 50-60+pips then down to 20+pip I want to start crying as it might never get back to 60-100. So bigger lots as my account allows max 5%, with small pips per trade. target is to get to 10standard lot which should = 2-3k per trade. 2-3 of those a week and I'll be happy. R8-1$ exchange rate makes the difference!
See what I mean. I would have shitted myself if I lost those pips! now just wait for new entry......
  • #73,417
  • Jun 30, 2008 8:00am Jun 30, 2008 8:00am
Quoting System6
Thanks. I'm still in the trade, didn't hit my SL. I'll hang on to it to see what happens.
Me too. Short again and now wif +3. And i'm insane now. I set my SL at entry price +1 now. seems like i get shock from the spike juz now.
  • #73,418
  • Jun 30, 2008 8:02am Jun 30, 2008 8:02am
  •  007
  • | Joined Jun 2007 | Status: "Undisciplined Trader" | 49 Posts
damn, got a short 1.9895 with a hope to make some quick bucks base on the break out of consolidation pattern...... but ....... someone did a really nice job to fade the move here...... Could be in the move if I exit the trade early when the first warning sign occur, too bad my hope takes over the common sense..... Btw, pay attention on those 2 level guyz, the top and bottom range of today.....
  • #73,419
  • Jun 30, 2008 8:03am Jun 30, 2008 8:03am
man i hope that movement up was a retracement..
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  • #73,420
  • Jun 30, 2008 8:03am Jun 30, 2008 8:03am
Quoting uncletrumpet
Is the bias still for Bears to take over from here?
It's a high probability trade. GU is in over-bought territory .. most likely it would go down .. since GBP economy is also not good, this down would probably be hard once it starts.
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