Cable Update (GBPUSD) | Page 3913 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #78,241
  • Jul 28, 2008 11:45am Jul 28, 2008 11:45am
Quoting spintrader
it's rising because it reached the bottom of the ascending channel and it will either reach a new high or at least test the last peak before descending.
On the daily I do agree

however, most of the pip pilots on the site have a time horizon shorter than george bush's attention span and are not looking to do any overnighting..

I am short and hoping for a long entry point lower than this; after which I will long it for a day or two
  • #78,242
  • Jul 28, 2008 11:50am Jul 28, 2008 11:50am
Quoting Alastair
why is it taking so long to drop??
waiting for everyone to get on the bus to collect more stop losses and wipe more accounts when it breaks the 940 resistance
When life gives you lemons, make lemonade
  • #78,243
  • Jul 28, 2008 11:50am Jul 28, 2008 11:50am
Quoting allserene
On the daily I do agree

however, most of the pip pilots on the site have a time horizon shorter than george bush's attention span and are not looking to do any overnighting..

I am short and hoping for a long entry point lower than this; after which I will long it for a day or two
agreed, I haven't yet come out of my long, I'm looking for 960, if it doesn't look likely I will settle for the 40's. Then I will be looking for a nice entry for a long to take cable up well beyond 2.

It amazes me when people don't bother to look at charts longer than a week or two.
  • #78,244
  • Jul 28, 2008 11:54am Jul 28, 2008 11:54am
Quoting spintrader

It amazes me when people don't bother to look at charts longer than a week or two.
Me too therefore im going to short near 2.01

Cheers
  • #78,245
  • Jul 28, 2008 11:58am Jul 28, 2008 11:58am
Quoting Alastair
why is it taking so long to drop??
Just be patience. Dow dropped to 163 and that's taking dollar down with it.
I don't care about GBP chart at this point. All their fundamental data are coming negative. Nothing to boost cable.
At 2pm EST. Bush will say something about budget deficit and if it's good then Dow will recover as well as dollar.
At this point, I am very comfortable with short then to going long.
Risk/reward moving towards short side.
IMO....
{Promotion Removed}
  • #78,246
  • Jul 28, 2008 11:59am Jul 28, 2008 11:59am
Quoting spintrader
agreed, I haven't yet come out of my long, I'm looking for 960, if it doesn't look likely I will settle for the 40's. Then I will be looking for a nice entry for a long to take cable up well beyond 2.

It amazes me when people don't bother to look at charts longer than a week or two.
Now I have moved from England to Florida and now to Washington State, I am right out of it as far as London Trading is concerned so I am forced to take the longer view... Actually it can be quite profitable because I am asleep while the wild gyrations are happening so I am not tempted to interfere with my positions

I mess around a bit with clipping a few pips here and there at this time of day
  • #78,247
  • Jul 28, 2008 12:01pm Jul 28, 2008 12:01pm
I need to start looking at the weekly charts. Every trade I get stuck in is due to not noticing long term support and resistance. Problem is I short term day trade so its hard to look at all graphs, or I'm just making excuses, lol Good call guys!
  • #78,248
  • Jul 28, 2008 12:02pm Jul 28, 2008 12:02pm
Quoting allserene
Now I have moved from England to Florida and now to Washington State, I am right out of it as far as London Trading is concerned so I am forced to take the longer view... Actually it can be quite profitable because I am asleep while the wild gyrations are happening so I am not tempted to interfere with my positions

I mess around a bit with clipping a few pips here and there at this time of day
yeah I find the more I sit at my compter and mess around, the more likely I am to make a loss. If I make sure I enter at good times then go out and leave it, I am much more successful at turning a profit.
  • #78,249
  • Jul 28, 2008 12:02pm Jul 28, 2008 12:02pm
Quoting allserene
Now I have moved from England to Florida and now to Washington State, I am right out of it as far as London Trading is concerned so I am forced to take the longer view... Actually it can be quite profitable because I am asleep while the wild gyrations are happening so I am not tempted to interfere with my positions

I mess around a bit with clipping a few pips here and there at this time of day
I live in Florida. Its so hard to trade the London session. I trade from 6:00 PM- 6:00 AM Eastern U.S. time. Then my wife wakes up to trade NY session. I want to move to Hawaii!
  • #78,250
  • Jul 28, 2008 12:04pm Jul 28, 2008 12:04pm
short again at 50 sl above 60
  • #78,251
  • Jul 28, 2008 12:07pm Jul 28, 2008 12:07pm
Im speak english bad. sorry.

Im short 1,9951 t/p : Tomorrow later from the news

Mortgage Approvals - Forecast : Bad
Net Lending to Individuals m/m - Forecast : Bad
CBI Distributive Trades Realized - Forecast : Bad
  • #78,252
  • Jul 28, 2008 12:07pm Jul 28, 2008 12:07pm
Quoting Seaward22
I need to start looking at the weekly charts. Every trade I get stuck in is due to not noticing long term support and resistance. Problem is I short term day trade so its hard to look at all graphs, or I'm just making excuses, lol Good call guys!

just look at the weekly chart....do the support and resistance and play the extremes...looking at weekly is no different in analysis as to any other time frame...

the point im trying to make is u dont have to analyse a weekly chart to stay in a trade for a week..i look at weekly...and trade in the direction u think price is going ..this is what im doing..
  • #78,253
  • Jul 28, 2008 12:11pm Jul 28, 2008 12:11pm
Quoting nAVIN2007
just look at the weekly chart....do the support and resistance and play the extremes...looking at weekly is no different in analysis as to any other time frame...

the point im trying to make is u dont have to analyse a weekly chart to stay in a trade for a week..i look at weekly...and trade in the direction u think price is going ..this is what im doing..
I appreciate the advice! I'll start looking more into the weeklies even when going short term.

Short 1.99.54 TP 1.9915
  • #78,254
  • Jul 28, 2008 12:19pm Jul 28, 2008 12:19pm
Belekas that is nice of you but I did not see the post, the channel has already been broken upward and we need to take a ride in the this bullish configuration. where is your target? Mine is not less than 200 pips, I can see a bullish divergence on the gold chart, so when gold goes up in value, cable has more strength.

What do you think?

Quoting belekas
Anyone who would have followed my posts would have made ~100pips by now from the buy of the ascending dayly channels LTL. Im not taking short, ill better long from the bottom or on the break of the descending 4hr channel and resistance @ ~.9948. This moove aint over yet ;-)

My 2 cents...
  • #78,255
  • Jul 28, 2008 12:28pm Jul 28, 2008 12:28pm
Quoting Seaward22
I appreciate the advice! I'll start looking more into the weeklies even when going short term.

Short 1.99.54 TP 1.9915
What's your S/L?

Personally, I'd play it with a tight stop just above 1.9960. But it's obviously your call. Price is currently sticking around this point, as it has done in recent trading sessions, which is the 200-day SMA. I think if 1.9960 is brokem, spot could move pretty quickly to the next resistance of 1.9980.
  • #78,256
  • Jul 28, 2008 12:28pm Jul 28, 2008 12:28pm
Imo We havent break yet the wedge but we will break it soon but first I see a pullback to 14 ema hourly around 1.912 where my long is waiting.
just my 2 cent
  • #78,257
  • Jul 28, 2008 12:30pm Jul 28, 2008 12:30pm
Quoting Seaward22
I appreciate the advice! I'll start looking more into the weeklies even when going short term.

Short 1.99.54 TP 1.9915

good stuff ..
  • #78,258
  • Jul 28, 2008 12:34pm Jul 28, 2008 12:34pm
thanks alot
  • #78,259
  • Jul 28, 2008 12:41pm Jul 28, 2008 12:41pm
here we go!
When life gives you lemons, make lemonade
  • #78,260
  • Jul 28, 2008 12:43pm Jul 28, 2008 12:43pm
Quoting micho
here we go!
where??
Keep It Simple Stupid
452 traders viewing now, 1 is registered: