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Cable Update (GBPUSD)

  • #84,121
  • Aug 26, 2008 11:09am Aug 26, 2008 11:09am
I'm not having a great day (unrelated to Forex).
But from the look of things, it would appear that I sold at the worst possible time for GBP/USD. I'm short from 1.8335 and we've jumped way the heck up. My t/p is 1.8301. I'm ok with my trades being long term, I just get jumpy when it looks like they may never head back my way (I got burned very badly by the NZD/USD a few weeks ago).
Do you think the karate kid knows kung-fu?
  • #84,122
  • Aug 26, 2008 11:18am Aug 26, 2008 11:18am
Does anybody think if cable will hit near 1.8250 by tomorrow?
Life is a journey... So is trading.
  • #84,123
  • Aug 26, 2008 11:19am Aug 26, 2008 11:19am
Quoting allserene
I saw 1.1000 ----- 20 some years ago which seems like yesterday
The monthly chart suggests that very long term a-b-c retracement from 1.04 area ended at 2.1150. So technically I wouldn't be surprised to see cable back or below that level at some time in the future.
  • #84,124
  • Aug 26, 2008 11:31am Aug 26, 2008 11:31am
Quoting nAVIN2007
i lose even when i short...
Look at the daily chart Navin -- as long as you had not cashed out quickly, you MUST win with shorts in the last x days.....

So it's lack of confidence to hold on - thats all

You need to get back in the saddle and wait for the next good push up and short it and then WAIT

Even if washington dc is nuked and god appears to take over 10 downing street - gbp will still go down

Its 2004 to 2008 but in reverse
  • #84,125
  • Aug 26, 2008 11:32am Aug 26, 2008 11:32am
whats happening...

sell cable looks good...but is range bound i think
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  • #84,126
  • Aug 26, 2008 11:34am Aug 26, 2008 11:34am
Quoting allserene
Look at the daily chart Navin -- as long as you had not cashed out quickly, you MUST win with shorts in the last x days.....

So it's lack of confidence to hold on - thats all

You need to get back in the saddle and wait for the next good push up and short it and then WAIT

Even if washington dc is nuked and god appears to take over 10 downing street - gbp will still go down

Its 2004 to 2008 but in reverse
thanks allen ...i shorted 3 times and lost and yet we sank ...i have become so cautious a bit to much since the last 3 weeks..
  • #84,127
  • Aug 26, 2008 11:47am Aug 26, 2008 11:47am
Quoting nAVIN2007
thanks allen ...i shorted 3 times and lost and yet we sank ...i have become so cautious a bit to much since the last 3 weeks..
It's like erections - confidence is fragile - once you lose it , it is a downward spiral (don't you just love that choice of words)

You need some little wins - 4 in a row - then you will be fine again
  • #84,128
  • Aug 26, 2008 11:53am Aug 26, 2008 11:53am
Quoting allserene
It's like erections - confidence is fragile - once you lose it , it is a downward spiral (don't you just love that choice of words)

You need some little wins - 4 in a row - then you will be fine again
..u certainly have a good way of putting it...
  • #84,129
  • Aug 26, 2008 12:10pm Aug 26, 2008 12:10pm
Quoting nAVIN2007
..u certainly have a good way of putting it...
thats what she says nod nod wink wink

Actually this market is frustrating because I want to stick some big positions on but it's just too scary

Has it come to far too quickly and a huge rebound could happen at any second ?

I don't trust it, so i leave no overnights on and just scalp like geronimo on his way back from the pub
  • #84,130
  • Aug 26, 2008 12:11pm Aug 26, 2008 12:11pm
hi guys,


what do you think about up coming FOMC meeting?
  • #84,131
  • Aug 26, 2008 12:21pm Aug 26, 2008 12:21pm
Quoting achnaide
hi guys,


what do you think about up coming FOMC meeting?
FOMC - Feeble Old Men's Club

paralysed with fear and indecision
  • #84,132
  • Aug 26, 2008 12:22pm Aug 26, 2008 12:22pm
any1 trading the eur? .....theres a head and shoulder pattern on the 1 hr chart..means more fall ???..eur neckline broke already..


all i need now is it to go up big time so i can short...get my money back ..
  • #84,133
  • Aug 26, 2008 12:26pm Aug 26, 2008 12:26pm
just locked my 20 pips profit on gbr/usd... waiting till this meeting is over
  • #84,134
  • Aug 26, 2008 12:31pm Aug 26, 2008 12:31pm
head & shoulder in H1 chart? eurusd?
i don't see it.. show me mate..

if yesterday.. yes it is.. but for now? i couldn't see it.. show me nav..
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  • #84,135
  • Aug 26, 2008 12:31pm Aug 26, 2008 12:31pm
Quoting achnaide
just locked my 20 pips profit on gbr/usd... waiting till this meeting is over
i think its going up now ....this movement down was a retracement...all of a sudden we getting them again it looks like....i think the dollar will get weak ..but im not trading this thought cause i will get it again...

any thoughts on this?
  • #84,136
  • Aug 26, 2008 12:33pm Aug 26, 2008 12:33pm
Quoting plumiash
head & shoulder in H1 chart? eurusd?
i don't see it.. show me mate..

if yesterday.. yes it is.. but for now? i couldn't see it.. show me nav..

u just posted it...thats a head an shoulder yes?
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  • #84,137
  • Aug 26, 2008 12:42pm Aug 26, 2008 12:42pm
hehe......the butterfly union is making a strong case.

Oil will go up. It's hurricans season and it'd time for a Hurricane Trade!

I think the oil market is consolidating in preperation right now and as soon as fomc is out of the way I am looking for long GU.

Right now I am thinking that if there is a spike down I will Buy...... Definately, if there is a spike up I will get in long on any pull back.

  • #84,138
  • Aug 26, 2008 12:57pm Aug 26, 2008 12:57pm
FOMC will decide whether to cause a recession or let it happen on it's own

It's like dyeing you hair when you are going bald - pointless
  • #84,139
  • Aug 26, 2008 12:59pm Aug 26, 2008 12:59pm
Quoting allserene
FOMC will decide whether to cause a recession or let it happen on it's own

It's like dyeing you hair when you are going bald - pointless
Your quips keep me going!
Just digging in the trenches like everyone else!
  • #84,140
  • Aug 26, 2008 12:59pm Aug 26, 2008 12:59pm
Quoting nAVIN2007
u just posted it...thats a head an shoulder yes?
whoa!
nav, are you short at those level?
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