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Cable Update (GBPUSD)

  • #83,341
  • Aug 21, 2008 12:12am Aug 21, 2008 12:12am
Quoting Agent-Pipen
Yes I have, he doesn't seem like a good trader to follow advice on. He's recent trades weren't that successful.
Really?

I wouldn't agree with that statement. I know he and I have made good trades in the past couple of days together on this pattern and a lot more than prior.

Everyone has bad trades. We can't be right all the time otherwise we would all be millionaires. I myself lost 17K during the first half of August. I have since made that loss up and added to my account.

So, please don't call someone a bad trader. We all have our techniques and methods that suit our style of trading.
Just digging in the trenches like everyone else!
  • #83,342
  • Aug 21, 2008 12:14am Aug 21, 2008 12:14am
Quoting Alastair
good morning eohater.
how things going?
down I hope bro...but looks like we're going to make another test of the 1.866x area and possible upto the 1.868x area.
Just digging in the trenches like everyone else!
  • #83,343
  • Aug 21, 2008 12:18am Aug 21, 2008 12:18am
Quoting Agent-Pipen
Yes I have, he doesn't seem like a good trader to follow advice on. He's recent trades weren't that successful.
one of the guys i look up to on this forum...
Keep It Simple Stupid
  • #83,344
  • Aug 21, 2008 12:19am Aug 21, 2008 12:19am
Quoting eohater
down I hope bro...but looks like we're going to make another test of the 1.866x area and possible upto the 1.868x area.
its fine, she has to come down some time.
im willing to wait for her.
decided to start trading he 1hr and 4 hr charts instesd of the 5 min chart!
Keep It Simple Stupid
  • #83,345
  • Aug 21, 2008 12:21am Aug 21, 2008 12:21am
cABLE just bouce from the resistance. We are going lower now..
  • #83,346
  • Aug 21, 2008 12:22am Aug 21, 2008 12:22am
Quoting Alastair
its fine, she has to come down some time.
im willing to wait for her.
decided to start trading he 1hr and 4 hr charts instesd of the 5 min chart!
Nice! Check out the 2hr in place of your 1hr from time to time. Sometimes the extra hour really helps show the swing and even out the movement. I like my 6 hr chart too.
Just digging in the trenches like everyone else!
  • #83,347
  • Aug 21, 2008 12:25am Aug 21, 2008 12:25am
Quoting eohater
Nice! Check out the 2hr in place of your 1hr from time to time. Sometimes the extra hour really helps show the swing and even out the movement. I like my 6 hr chart too.
Thanx.
i found i sat staring at the monitor the whole day stressing about a 10 pip move!
Keep It Simple Stupid
  • #83,348
  • Aug 21, 2008 12:26am Aug 21, 2008 12:26am
it's headed south now. I might take profit and call it the night

Thanks for all the great advice and suggest
  • #83,349
  • Aug 21, 2008 12:27am Aug 21, 2008 12:27am
Quoting eohater
down I hope bro...but looks like we're going to make another test of the 1.866x area and possible upto the 1.868x area.
I agree . it should much higher too today & further nextday and the compelling fundamental again remain :
The most important news of theses days should effect again this weekend:

Speculation swirls arroung US mortgage giants -fannie mae and freddie mac:
The two mortgage giants, which prop up a large part of the US mortgage market, have been at the center of a financial storm in recent weeks, especially after both companies revealed hefty second-quarter losses.
The Treasury, which was recently empowered by Congress and US President George W. Bush to extend credit and pump liquidity into Fannie Mae and Freddie Mac if necessary, is keeping a close watch on the companies' fortunes.
But investors continue to sell the companies' stocks.


This should help all major retracement against USD .
Thanks ,
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #83,350
  • Aug 21, 2008 12:28am Aug 21, 2008 12:28am
Quoting Agent-Pipen
it's headed south now. I might take profit and call it the night

Thanks for all the great advice and suggest
remember 200 pips move today
  • #83,351
  • Aug 21, 2008 12:29am Aug 21, 2008 12:29am
Quoting eohater
I see we have a lot of shorts on tonight. I'm holding two, one at 1.8660 and another at 1.8625. I've went short from the 1.866x area for the last two nights with good success. Time to try it again!
Just digging in the trenches like everyone else!
  • #83,352
  • Aug 21, 2008 12:30am Aug 21, 2008 12:30am
eohater,
think she is coming back up??
my order is still waiting, missed it by two pips!!!!!!
Keep It Simple Stupid
  • #83,353
  • Aug 21, 2008 12:34am Aug 21, 2008 12:34am
Quoting Alastair
eohater,
think she is coming back up??
my order is still waiting, missed it by two pips!!!!!!
I think she's going to retest the 1.864x area and continue south to around 1.857x, possibly lower.
Just digging in the trenches like everyone else!
  • #83,354
  • Aug 21, 2008 12:34am Aug 21, 2008 12:34am
[quote=Agent-Pipen]

I'm still holding short. From my view it looks like it'll touch 1.86175 area before testing to break the channel again.

quote]
  • #83,355
  • Aug 21, 2008 12:34am Aug 21, 2008 12:34am
Quoting Ya-Razzaq
remember 200 pips move today
perhaps or more but which direction mostly you think ?
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #83,356
  • Aug 21, 2008 12:38am Aug 21, 2008 12:38am
Quoting fontu
perhaps or more but which direction mostly you think ?
fontu
Down
Just short cable all the way.. refer to my daily chart i have posted earlier.
http://forexfactory.com/showpost.php...ostcount=83337
  • #83,357
  • Aug 21, 2008 12:49am Aug 21, 2008 12:49am
Quoting Ya-Razzaq
Down
Just short cable all the way.. refer to my daily chart i have posted earlier.
http://forexfactory.com/showpost.php...ostcount=83337
Thanks for the information & I see the chart. but I think it make another sidway today but with little bigger range than last days & mostly up than down, if 200 pips to move they may be 130 up & 70 down from price now.

Just my assumption, lets see what actually happen .
Thanks for your advice and analysis.

fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #83,358
  • Aug 21, 2008 12:59am Aug 21, 2008 12:59am
its all about UK retail sales today. if the BRC data for july iscorrec then they will be down. Look for GBP to test a new low below 19500 if the sale figure is below -0.2%. i think it will be a big mover for GBP.
  • #83,359
  • Aug 21, 2008 1:19am Aug 21, 2008 1:19am
Bot 18654

Target 18691

Stop 18615
  • #83,360
  • Aug 21, 2008 1:36am Aug 21, 2008 1:36am
Nice Call Bye. What made you enter that trade?
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