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Cable Update (GBPUSD)

  • #78,801
  • Jul 30, 2008 5:24am Jul 30, 2008 5:24am
Quoting Abuawad
I'm holding long from yesterday at wrong entry level, hopping to cover it today...
same with me
  • #78,802
  • Jul 30, 2008 5:28am Jul 30, 2008 5:28am
Quoting yank
same with me
and me...

do people think that cable has reached its high and is on the way back down, or does anyone else still see a test of 2.0300/400 area as likely within the next month or so?
  • #78,803
  • Jul 30, 2008 5:35am Jul 30, 2008 5:35am
Quote
do people think that cable has reached its high and is on the way back down, or does anyone else still see a test of 2.0300/400 area as likely within the next month or so?

Anything is possible, but in my opinion with both economies in the tank so to speak, i dont see what would drive it up further at this point in time.
  • #78,804
  • Jul 30, 2008 5:37am Jul 30, 2008 5:37am
Quoting Abuawad
I'm holding long from yesterday at wrong entry level, hopping to cover it today...
Quote
would you still have entered a long position today after checking your levels.

I think the question is are your today's levels right, not whether holding yesterday wrong levels. If yes, can one add to the losing trades of yesterday based on your today's levels?

Maybe i am wrong
  • #78,805
  • Jul 30, 2008 5:39am Jul 30, 2008 5:39am
Quoting Abuawad
I'm holding long from yesterday at wrong entry level, hopping to cover it today...
Sorry to hear about that bro... I had a couple of positions go bad on me last week, and I finally got stopped out for some fairly big losses. It sucked but I learned something from it.

G10
Enlightened.
  • #78,806
  • Jul 30, 2008 5:41am Jul 30, 2008 5:41am
never add to the to the losing trades that is suicide called margin call
cut the loses earlier and go reverse or wait for better price to go long or hedge.You must pick the best option for you.
  • #78,807
  • Jul 30, 2008 5:44am Jul 30, 2008 5:44am
Quoting fxbroker
I think the question is are your today's levels right, not whether holding yesterday wrong levels. If yes, can one add to the losing trades of yesterday based on your today's levels?

Maybe i am wrong
the level are correct for yesterday and for today. but what happen yeasterday that i take wrong entry by my self i close short verey fast and go long more faster. thats it.
  • #78,808
  • Jul 30, 2008 5:53am Jul 30, 2008 5:53am
Quoting Abuawad
the level are correct for yesterday and for today. but what happen yeasterday that i take wrong entry by my self i close short verey fast and go long more faster. thats it.
Cool!

I think it will still go up, if news is bad from US better, maybe not immediately
but above 9760 is still safe to hold long, as long as possible. A break below there, may take longer for GU to go up but it will go up
  • #78,809
  • Jul 30, 2008 6:00am Jul 30, 2008 6:00am
I have waiting when it bounce twice, I think it was rejection for go down.
then I choice to closed 1 of my short at 1.9876 from 1.9888 and go long when next candle start.
another short has been close at 1.9900 from 1.9942.(wrong line at my chart)
Attached Image (click to enlarge)
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  • #78,810
  • Jul 30, 2008 6:13am Jul 30, 2008 6:13am
Well, I got stopped out positive 35 pips, makes 75 green pips for the day so far. With the ADP NFP coming up in about an hour, I think it's a good time to hit the treadmill and watch for my next trade.

Best trading wishes

G10
Enlightened.
  • #78,811
  • Jul 30, 2008 6:51am Jul 30, 2008 6:51am
hello guys
abuawad hi hows u my friend
well i think we call this a bullish flag

Attached Image (click to enlarge)
Click to Enlarge Name: ch1.gif Size: 16 KB
  • #78,812
  • Jul 30, 2008 6:55am Jul 30, 2008 6:55am
Quoting warta
hello guys
abuawad hi hows u my friend
well i think we call this a bullish flag

Attachment

Fine, still holding
  • #78,813
  • Jul 30, 2008 7:02am Jul 30, 2008 7:02am
ADP Nonfarm Employment Change 15 min............ up or down


  • #78,814
  • Jul 30, 2008 7:03am Jul 30, 2008 7:03am
Quoting Abuawad
ADP Nonfarm Employment Change 15 min............ up or down


if down not for a long time
  • #78,815
  • Jul 30, 2008 7:04am Jul 30, 2008 7:04am
10 min.....
  • #78,816
  • Jul 30, 2008 7:05am Jul 30, 2008 7:05am
Quoting Abuawad
ADP Nonfarm Employment Change 15 min............ up or down


up.
i have a long @ 19870
  • #78,817
  • Jul 30, 2008 7:06am Jul 30, 2008 7:06am
Quoting Manny
up.
i have a long @ 19870
Welcome my friend i'm at 1.9881
  • #78,818
  • Jul 30, 2008 7:06am Jul 30, 2008 7:06am
morning all. Best of luck to those in the market right now.
USD Est Non Mortuus
  • #78,819
  • Jul 30, 2008 7:06am Jul 30, 2008 7:06am
Quoting Manny
up.
i have a long @ 19870
lot of people have long around 1.9860~1.9880
  • #78,820
  • Jul 30, 2008 7:07am Jul 30, 2008 7:07am
still nothin happen...but i think..

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