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Cable Update (GBPUSD)

  • #81,081
  • Aug 8, 2008 10:26am Aug 8, 2008 10:26am
Quoting Linqtrader
Congratulations! On your new baby! If it's a boy, I recommend you name him CLIFF! Could use a nice Arturo Fuente Maduro right now with a stiff portion of Hennesey XO or Paradis!

Linqtrader
yes this forex a wild beast .....i gave birth 4am this morning when i saw the support break....cliff is a good name...
  • #81,082
  • Aug 8, 2008 10:30am Aug 8, 2008 10:30am
Really Jim I would love for that to happen to help my friends out here.
Im thinking profit taking may happen if 144 is the target ,but if it is not on such a bearish week we may neeed to go further for the shorters to stand down.
Its great your here to help us out jim.



Quoting hard1head1
I know bones, I just shaing the fact that it has done that before.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #81,083
  • Aug 8, 2008 10:33am Aug 8, 2008 10:33am
Quoting asyed4
Anything is possible my dear friend; I can't promise today but $ is not a consistent currency in currency market, if it has some heaven weeks then it should and would have some hell weeks; I have various examples that if $ or DJIA went up to the sky then after next few days they would be coming back on the road...

The most important thing for right now for all those long people is to pass this under 5 hours of tradinng because I think I told in the beginning that this week Pound has its 100% negative sentiment......

I have been doing this for more than 1 year and I think this is the first time that a move for G/U is about 300 pips in one day and 600 pips in a week.....

So don't feel like you are guilty, nobody on this earth on Sunday night knows that this week it will decline to 1.9144 from 1.9765 and it did happen this week so we all should get another chance to recover those losses.

The only thing I am worry is what will happen after the london fix hour because it seems like London will be closing in 32 minutes and that is why London is trying to maintain the price in 40-50 pips away from 1.9144 bench mark. I don't know how US/DJIA will react during the last 4 hours of trading today after London close..........
i learnt one thing about forex...u have to go with the flow and do what market tells u to do....i sticking out this trade till that support breaks .after i might give up..i spent a lot of time trying to get good at this and me working life is suffering...it isnt working out....and i need to be carefull cause my standard of living has gone down instead of up....

so i might have to give up completely....stress level are also through the roof...not good for me.

for me to get of of this will be just as mad as its been to fall like this ...it will have break vital resistance area and it might takes ages to do this ...the trade is truelly stuffed
  • #81,084
  • Aug 8, 2008 10:36am Aug 8, 2008 10:36am
Attached Image (click to enlarge)
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look nice if we bounce and better if we break
  • #81,085
  • Aug 8, 2008 10:38am Aug 8, 2008 10:38am
Quoting nAVIN2007
i learnt one thing about forex...u have to go with the flow and do what market tells u to do....i sticking out this trade till that support breaks .after i might give up..i spent a lot of time trying to get good at this and me working life is suffering...it isnt working out....and i need to be carefull cause my standard of living has gone down instead of up....

so i might have to give up completely....stress level are also through the roof...not good for me.

for me to get of of this will be just as mad as its been to fall like this ...it will have break vital resistance area and it might takes ages to do this ...the trade is truelly stuffed

its ok bro , everything will be ok next week , but u didn't listen to me in the morning
  • #81,086
  • Aug 8, 2008 10:38am Aug 8, 2008 10:38am
Honestly Nav I know what your talking about ,it is a time to reassess your trading ,look at mistakes ,I have done this so many times on a day like this when I have been wrong.
Nav take Jims advice and trade the Daily and your stress levels will reduce.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #81,087
  • Aug 8, 2008 10:40am Aug 8, 2008 10:40am
Quoting nAVIN2007
i learnt one thing about forex...u have to go with the flow and do what market tells u to do....i sticking out this trade till that support breaks .after i might give up..i spent a lot of time trying to get good at this and me working life is suffering...it isnt working out....and i need to be carefull cause my standard of living has gone down instead of up....

so i might have to give up completely....stress level are also through the roof...not good for me.

for me to get of of this will be just as mad as its been to fall like this ...it will have break vital resistance area and it might takes ages to do this ...the trade is truelly stuffed
If you quit, you will never succeed. You may need to re-evaluate your system and stick to what works for you and not rely on what others post in the forum. You will lose everytime trying to pick tops and bottoms. Just try to stick with the trend and get some pips, keep some pips....don't try to get them all!
  • #81,088
  • Aug 8, 2008 10:44am Aug 8, 2008 10:44am
hey guys u think we will see a short gap during the weekend ?
  • #81,089
  • Aug 8, 2008 10:46am Aug 8, 2008 10:46am
Is that a 200EMA bro?

Quoting warta
Attachment

look nice if we bounce and better if we break
  • #81,090
  • Aug 8, 2008 10:48am Aug 8, 2008 10:48am
From one trader to another.... don't give up trading, its only 1 year, so be patient. U might find ur groove soon.

anywayz, you should focus on cutting losses, if trade is going against u, cut losses, and wait again for another opportunity to jump in. As basic as it sounds, most traders fail to follow a very simple discipline.

lastly, there might be hope for those being in the wrong way of this downtrend.... there is war erupting in Russia/Georgia... Oil didn't react to it... but maybe it will by next week...

thats my 2 centz, have a good weekend
  • #81,091
  • Aug 8, 2008 10:49am Aug 8, 2008 10:49am
next minor supports
1.9039
1.8662
1.8034

major supports
0.0000

When life gives you lemons, make lemonade
  • #81,092
  • Aug 8, 2008 10:49am Aug 8, 2008 10:49am
Quoting I.Y.I
Is that a 200EMA bro?

yep 200 SMA close
  • #81,093
  • Aug 8, 2008 10:52am Aug 8, 2008 10:52am
I got 2 Morning Stars on the 15 Min T/F and hoping it may signal a nice little selloff for the rest of the day. Keep your fingers crossed.

Jim
  • #81,094
  • Aug 8, 2008 11:05am Aug 8, 2008 11:05am
they start to take some profit
good news
  • #81,095
  • Aug 8, 2008 11:06am Aug 8, 2008 11:06am
Quoting fx local
longs should pay up, cut losses, move on to next trade - accept things have changed, marriage to trades is account killing strategy, especially when there is a break out as a significant as this, prefer to lose opinion than my money.....
Wasn't the number '8' considered the symbol for money? ANd today is 8-08-08????? NOt so for cable mabel.

Linqtrader
  • #81,096
  • Aug 8, 2008 11:09am Aug 8, 2008 11:09am
That's what I am waiting for after London close; I kept my finger crossed because when DJIA is up so after London close it usually take the pair low BUT thanks GOD THAT it started picking up.....................

After a long time I think I have a little but cute smile on my face It is just like if you are sinking in an ocean and you don't know how to swim and at the eleventh hour you see a boat coming towards you to save you;

That is kind of feeling I think everyone (long guys) should feel rightnow.

Alqaz.
  • #81,097
  • Aug 8, 2008 11:15am Aug 8, 2008 11:15am
Quoting Monkiman
From one trader to another.... don't give up trading, its only 1 year, so be patient. U might find ur groove soon.

anywayz, you should focus on cutting losses, if trade is going against u, cut losses, and wait again for another opportunity to jump in. As basic as it sounds, most traders fail to follow a very simple discipline.

lastly, there might be hope for those being in the wrong way of this downtrend.... there is war erupting in Russia/Georgia... Oil didn't react to it... but maybe it will by next week...

thats my 2 centz, have a good weekend
Don't count on much more than profit taking at this point. The war in Russia/Georgia is only affecting the pipeline for europe and will just hurt europe and not US, AUS, YEN or anything else at least at this point. IMO
  • #81,098
  • Aug 8, 2008 11:17am Aug 8, 2008 11:17am
Quoting Rainer
GBP-USD seasonal movements based on an average of 36 years --->
beginning of August: down
Rainer, nice chart reflecting the tendency of Cable's monthly directions over a helluva long time span. I've saved that on Favorites. Thx.
Linqtrader
  • #81,099
  • Aug 8, 2008 11:18am Aug 8, 2008 11:18am
Quoting NuB
"F*ck your support" said the Cable
They should have never gave you traders money.
I called 911. I guess they thought I ment 1.9110
Don't Get Bitter, Get Better
  • #81,100
  • Aug 8, 2008 11:19am Aug 8, 2008 11:19am
Quoting asyed4
That's what I am waiting for after London close; I kept my finger crossed because when DJIA is up so after London close it usually take the pair low BUT thanks GOD THAT it started picking up.....................

After a long time I think I have a little but cute smile on my face It is just like if you are sinking in an ocean and you don't know how to swim and at the eleventh hour you see a boat coming towards you to save you;

That is kind of feeling I think everyone (long guys) should feel rightnow.

Alqaz.
dollar index formed a morning star......it better sink ..bro i dunno how u do this man ...what target are u looking for bro.?
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