Cable Update (GBPUSD) | Page 4106 | 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)

  • #82,101
  • Aug 13, 2008 11:22am Aug 13, 2008 11:22am
Quoting eohater
It is exciting! Losses happen and the suck, but they can be made up. I don't take them personal, it's just business.

I hope some people have made some good money on her though!

If no one has looked at August of 2007, go and look. She fell hard then ran back up!
Eo Hater, thanks for the insight referring to the Aug. 2007 chart. A drop of over 650 pips last year at this time, give or take 50 pips. This month we're faced with a loss of over 1250 pips if you're counting from the tail end of July @ 1.9929. One of the three long trades I have came within .02% of hitting margin call, which would net me a loss of about 10K. The other two trades??? Well, I won't go there.
Seems, in the short, short (no pun intended) TF, the cable is balking at all the short selling action and is striving to finally regain some ground.
I'm resolved one way or the other. I can't fund the accounts any further, and wouldn't anyways based on the fickleness of the GU.
Attached Image
  • #82,102
  • Aug 13, 2008 11:27am Aug 13, 2008 11:27am
Quoting Clouds
If you say so. I'm just going play channel until it breaks, and it hasn't, by my chart, my next TP is above 2.16. If we get to 1.85 I'll sell. Have fun.
You may have something there... but as you said, if 1.85 is taken out then...
Attached Image (click to enlarge)
Click to Enlarge Name: gudy.GIF Size: 23 KB
Patience + Discipline - Greed = Success
  • #82,103
  • Aug 13, 2008 11:32am Aug 13, 2008 11:32am
We might see more retracements, but immediate trend for now is down. A lot more down. ----> #81228
  • #82,104
  • Aug 13, 2008 11:34am Aug 13, 2008 11:34am
Hello allserene
Thank you for your reply, but what I was trying to suggest was that by looking at a 6yr t/f might seem a little pointless when traders were maybe trying to make up lost ground on cable by going long and expecting to make up that lost ground by the end of day trading. Also as stated a little earlier on in this thread that t/a was out the window because of the almost unprecedented way that cable had fallen, why then would you look to t/a to rescue you?
  • #82,105
  • Aug 13, 2008 11:35am Aug 13, 2008 11:35am
just an aside for you very short term traders to whom spreads are a massive consideration -

OANDA is at 0.9 spread for euro and 2.5 for cable

as the rates are not that much different in value, and as cable is shadowing euro, you spread jockeys should be playing euro because spread is such a big proportion of your movement
  • #82,106
  • Aug 13, 2008 11:41am Aug 13, 2008 11:41am
Quoting atuls
Can Anybody tell me here. My total 0.28 lot is open buy usd/gbp And I am in loss $500 what should I do? I keep continue this positions or have to close it here ?
I would say wait until DJIA close or 4 hour candle @ 3:00 pm as Oil is $2.50 up and DJ is down to -157 points so it all depends up on your entry point. If you are 500 pips away from your target then trim your losses. I am not sure from the next two London Sessions this week whether Cable will recover its losses and go back up to at least 1.88 or 1.89 but there are more chances to go down until COB Friday....
  • #82,107
  • Aug 13, 2008 11:59am Aug 13, 2008 11:59am
What "war" in the Middle East could have a lasting effect? None really, a war with Iran would last 2 weeks max, if even, so don't count on that for the long term trend.
  • #82,108
  • Aug 13, 2008 12:03pm Aug 13, 2008 12:03pm
Quoting asyed4
I would say wait until DJIA close or 4 hour candle @ 3:00 pm as Oil is $2.50 up and DJ is down to -157 points so it all depends up on your entry point. If you are 500 pips away from your target then trim your losses. I am not sure from the next two London Sessions this week whether Cable will recover its losses and go back up to at least 1.88 or 1.89 but there are more chances to go down until COB Friday....

My target just 160 means 188.60 On this I will cover All loss.
  • #82,109
  • Aug 13, 2008 12:04pm Aug 13, 2008 12:04pm
Quoting truthy
What "war" in the Middle East could have a lasting effect? None really, a war with Iran would last 2 weeks max, if even, so don't count on that for the long term trend.
The same way the 2003 war in Iraq only lasted weeks? Even if the war lasted 2 weeks max, what about the aftermath and the destabilisation of the whole region?
  • #82,110
  • Aug 13, 2008 12:07pm Aug 13, 2008 12:07pm
Interesting reading on here chaps, some good, some absolute nonesense but that's not for me to comment on.

Basically my take is: The USA has been reporting bad times for the last couple of years and now it's the UK's turn and so cable is repatriating some of the money back. The whole world pretty much is in turmoil so just watch all news and that filters through to the currencies a few months later (6months sometimes).

Had a good start to the day today and was short from 9907 for +50 pips. Then I tried to catch the bottom and have been chasing the gains back all day!! So frustrating. I'd like to think there would be some profit taking soon and so a bounce but I'm not betting big on that. And don't forget the interest differential still counts for something. Neither can really change much at the moment because of stagflation.

Anyway enough chat, back to fighting this beast! All the best one and all.
  • #82,111
  • Aug 13, 2008 12:09pm Aug 13, 2008 12:09pm
train your eyes to see well, i had bought several EA's but I had to discard all of them, there is no way EA can see and trade better than you, most of those marketers are shovel seller close the goldmine. mine yourself
many EA's do trade well but the better person in trading is you, I have made over 300 pips today.
with those EA you will have to leave you computer on for the trades to be captured.

My TP of 245 was hit while my computer was off.
friend ask the gurus. the best guys here are not EA fan but you may use EA to aid your strategy
SORRY FOR THE LOSSES.


Quoting atuls
My EA make Buy and now I am in very big loss of more than $500 Still Positions are open. But Now No margin in A/c Max. 40 pip I can stay Alive.
  • #82,112
  • Aug 13, 2008 12:18pm Aug 13, 2008 12:18pm
Gentlemen:
I closely sit tight 60 minutes neck to neck on the computer and I did analyze one thing very clearly:

1) Cable is doing exactly Euro is doing ranging trading.

2) In the last 5 minutes of each hour, it increases from 1.8700 to 1.8718

3) then in the next hour it went down as below as 1.8688 from 1.8613

4) So basically if you are expert in scalping then you can do one of the
two things:
a) Do short at any hour.59 minutes when it is in its peak

b) when hour started then close out the trade in 15 minutes
sometimes in 20 minutes....

5) Do vice versa for Long positions


I did one more time scapling long but I got 1 Pip+ because I didn't
follow the exact above 1-4 points.
But I don't want to do any more because in this way I am easily giving 5 pips of spread to my broker:Forex......but any one can take advantage of at least 30 pips.


Alqaz.
  • #82,113
  • Aug 13, 2008 12:30pm Aug 13, 2008 12:30pm
Quoting asyed4
Gentlemen:
I closely sit tight 60 minutes neck to neck on the computer and I did analyze one thing very clearly:

1) Cable is doing exactly Euro is doing ranging trading.

2) In the last 5 minutes of each hour, it increases from 1.8700 to 1.8718

3) then in the next hour it went down as below as 1.8688 from 1.8613

4) So basically if you are expert in scalping then you can do one of the
two things:
a) Do short at any hour.59 minutes when it is in its peak

b) when hour started then close out the trade in 15 minutes
sometimes in 20 minutes....

5) Do vice versa for Long positions


I did one more time scapling long but I got 1 Pip+ because I didn't
follow the exact above 1-4 points.
But I don't want to do any more because in this way I am easily giving 5 pips of spread to my broker:Forex......but any one can take advantage of at least 30 pips.


Alqaz.
bro i cant believe u want to scalp...im to scared to even press the excute button..i say wait for it to find resistance and sell the mother..just look to sell in the downtrend this way u safe i think
  • #82,114
  • Aug 13, 2008 12:33pm Aug 13, 2008 12:33pm
Quoting asyed4
Gentlemen:
I closely sit tight 60 minutes neck to neck on the computer and I did analyze one thing very clearly:

1) Cable is doing exactly Euro is doing ranging trading.

2) In the last 5 minutes of each hour, it increases from 1.8700 to 1.8718

3) then in the next hour it went down as below as 1.8688 from 1.8613

4) So basically if you are expert in scalping then you can do one of the
two things:
a) Do short at any hour.59 minutes when it is in its peak

b) when hour started then close out the trade in 15 minutes
sometimes in 20 minutes....

5) Do vice versa for Long positions


I did one more time scapling long but I got 1 Pip+ because I didn't
follow the exact above 1-4 points.
But I don't want to do any more because in this way I am easily giving 5 pips of spread to my broker:Forex......but any one can take advantage of at least 30 pips.


Alqaz.
Good Idea perhaps dude but way way to risky ... RR isn't sittin comfortably for me. This pair is more volatile than my wife therefore its better to go with the trend (ie. DOWN DOWN DOWN) .... just like "No Hunny your not fat at all , in fact you could use an extra couple pounds" (Bull shit) ... lol
  • #82,115
  • Aug 13, 2008 12:34pm Aug 13, 2008 12:34pm
Quoting asyed4
Gentlemen:
I closely sit tight 60 minutes neck to neck on the computer and I did analyze one thing very clearly:

1) Cable is doing exactly Euro is doing ranging trading.

2) In the last 5 minutes of each hour, it increases from 1.8700 to 1.8718

3) then in the next hour it went down as below as 1.8688 from 1.8613

4) So basically if you are expert in scalping then you can do one of the
two things:
a) Do short at any hour.59 minutes when it is in its peak

b) when hour started then close out the trade in 15 minutes
sometimes in 20 minutes....

5) Do vice versa for Long positions


I did one more time scapling long but I got 1 Pip+ because I didn't
follow the exact above 1-4 points.
But I don't want to do any more because in this way I am easily giving 5 pips of spread to my broker:Forex......but any one can take advantage of at least 30 pips.


Alqaz.
Don't sell at 8720, it's going FLY up
  • #82,116
  • Aug 13, 2008 12:36pm Aug 13, 2008 12:36pm
Quoting Clouds
Don't sell at 8720, it's going FLY up
Agreed!

These shorts have to start taking profit and when they do, we're going back to the 2's.
Just digging in the trenches like everyone else!
  • #82,117
  • Aug 13, 2008 12:40pm Aug 13, 2008 12:40pm
Quoting nAVIN2007
bro i cant believe u want to scalp...im to scared to even press the excute button..i say wait for it to find resistance and sell the mother..just look to sell in the downtrend this way u safe i think
You are absolutely right bro, Beleive me I was so scared when I did long and I praying and praying and when cable was only 1 pip over my entry point I pressed the execute button. It just my thing; first I got 25 pips then I lost 24 pips then my heart is blaming on me that you lost 24 pips so again I entered with scare and I gain 1 pip....

You know I made a stupid mistake this morning, I had a marvelous entry point for Short @ 1.8725 but I was Humty Dumpty so I put a profit limit of 25 pips believe me navin and guys of this forum this son of a &$#^& went down 60 pips in my direction I think in the same hour. I was so freak out and then I entered short but at the wrong entry point 1.8748 because I didn't see that it wouldn't break 1.8738 bench mark.......

If I didn't put a limit this morning I could get at least 75-80 pips.....

I think I need to give me a speech because for loss time I am welcoming the loss but profit time I am like crazy and put a damn limit............... Oh oh man oh man oh man........................................
  • #82,118
  • Aug 13, 2008 12:40pm Aug 13, 2008 12:40pm
61% Done!!!

Let's see if price break this fib leve. A retracement and then going down again probabbly the next move.
Attached Image (click to enlarge)
Click to Enlarge Name: (Carrera) 61% Done.png Size: 149 KB
  • #82,119
  • Aug 13, 2008 12:44pm Aug 13, 2008 12:44pm
Quoting Carrera
61% Done!!!

Let's see if price break this fib leve. A retracement and then going down again probabbly the next move.

yeas i agree 2 can only be seen if this is the bottom and doubt it ....but the only way to know if it a bottom is if if get bullish candle on dailly then test bottom and reject otherwise we guessing and going to get it again..
  • #82,120
  • Aug 13, 2008 12:46pm Aug 13, 2008 12:46pm
Quoting asyed4
You are absolutely right bro, Beleive me I was so scared when I did long and I praying and praying and when cable was only 1 pip over my entry point I pressed the execute button. It just my thing; first I got 25 pips then I lost 24 pips then my heart is blaming on me that you lost 24 pips so again I entered with scare and I gain 1 pip....

You know I made a stupid mistake this morning, I had a marvelous entry point for Short @ 1.8725 but I was Humty Dumpty so I put a profit limit of 25 pips believe me navin and guys of this forum this son of a &$#^& went down 60 pips in my direction I think in the same hour. I was so freak out and then I entered short but at the wrong entry point 1.8748 because I didn't see that it wouldn't break 1.8738 bench mark.......

If I didn't put a limit this morning I could get at least 75-80 pips.....

I think I need to give me a speech because for loss time I am welcoming the loss but profit time I am like crazy and put a damn limit............... Oh oh man oh man oh man........................................
same this morning i placed a trade in head sell ..and it sank...always easy in head in reality different story...
1,867 traders viewing now, 2 are registered:
,
AlphaGM