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Cable Update (GBPUSD)

  • #84,621
  • Edited 11:22am Aug 28, 2008 11:10am | Edited 11:22am
Quoting fx local
why are surprised Nav, it was inevintable trend is down, do not try and pick bottoms - u will lose ur account trying to do so, trust me

i entered so big i cant add more i just have to find a way to reduce loss...once i get out of this mess i will never ever go against trend..its all part of development...
  • #84,622
  • Aug 28, 2008 11:13am Aug 28, 2008 11:13am
cable will be 1.74 this year

back to where it was in 2004

Spectacular stuff but we know how it goes - a steady climb year after year and then it falls off a cliff

That works for minute /hourly/ daily /monthly charts too

So now we know - it's a 'come on in brother' and then the guillotine falls

I can't figure out whether this move is good ! I brought half of my money to the US changed it into in USD. If I stay here, I have lost a big opportunity on the rest of my wad at say 2.06

If I go back to the UK, my USD accounts have made a lot of GBP and I am into free fish and chips and Timothy Taylor bitter for several lifetimes !!!!

It's a nice problem to have - ain't forex fun !
  • #84,623
  • Aug 28, 2008 11:13am Aug 28, 2008 11:13am
Quoting magictrader
...
good chart, cable bounced off wedge bottom.. where i covered
Trading is 80% Emotional, 20% Technical
  • #84,624
  • Aug 28, 2008 11:14am Aug 28, 2008 11:14am
Yikes!
Went long with a 65 pip trailing stop.
The thing stopped out while I was in the friggin' bathroom. That was fast.
So we shorting or what?
Do you think the karate kid knows kung-fu?
  • #84,625
  • Aug 28, 2008 11:15am Aug 28, 2008 11:15am
Quoting fx local
for some strange reason people love pissing against the wind, TREND IS DOWN, selling is easy money! come on why in the world are pple bottom fishing? ! picking tops and bottoms fast way to blow account...
I hate when that happens.....

HOLLA
  • #84,626
  • Aug 28, 2008 11:16am Aug 28, 2008 11:16am
If I traded like most in here i could already have my 15 pip scalp lol.
  • #84,627
  • Aug 28, 2008 11:19am Aug 28, 2008 11:19am
It is so sweet hear the alarm of my blackberry when profit is reached!!!

Last night my strategy here ---> #84427

Today results bellow.
Attached Image (click to enlarge)
Click to Enlarge Name: (Carrera) gbp-usd 8-27-2008 AB=CD.png Size: 75 KB
  • #84,628
  • Aug 28, 2008 11:20am Aug 28, 2008 11:20am
Quoting steelhead
If I traded like most in here i could already have my 15 pip scalp lol.

LOL
  • #84,629
  • Aug 28, 2008 11:20am Aug 28, 2008 11:20am
On a personal big picture bias opinion....

Somewhat the plunge of the cable reminded me of black Wednesday in 1992. It went from 2.0081 to 1.4048 in like... 2 or 4 months... It took about 16 years before the GBPUSD went back to the price again.

Back then this plunge was led by George Soro... I really wander what really cause the drop of 1000 pips in one month this time.


Oh well, let's see how it goes ...

-meanwhile get your nachos and popcorn to enjoy the show.


Here's more about Black Wednesday.

http://en.wikipedia.org/wiki/Black_wednesday
  • #84,630
  • Aug 28, 2008 11:21am Aug 28, 2008 11:21am
now we are at the bottom of the wedge, but it looks like finish falling wedge. If we break it up then we could see long run up.
  • #84,631
  • Aug 28, 2008 11:21am Aug 28, 2008 11:21am
Quoting steelhead
Im long at 1.8250. Don't listen to em navin. They do exactly what the big boys want them to do. Perfect four hour candle close. If im wrong im wrong losses are a part of the game. stop loss at 1.8160. looking for at least 150 pips.

Labor day coming up. Oil should shoot up for the holiday weekend.
Oil just fell $5.00 from its highs!! "should could would" - aint gona make u any money

i do what my trading plan and money management tell me to do!!
to be able to survive u need money management and specific risk plan, otherwise u end up running out of margin and gambling with losses...

yes, losses are apart of the game,

big bhoys!! i assume u refering to hedge funds, SWF and banks??!
the trend is down no trader at bank would position long sterling when sentiment was soo against it relative to the dollar, yeah u may be able to catch a small profit taking bounce here and there but u miss the main moves which are down according to my charts and broker!!......

happy trading gud luck with ur long
Trading is 80% Emotional, 20% Technical
  • #84,632
  • Aug 28, 2008 11:25am Aug 28, 2008 11:25am
Quoting nAVIN2007
i entered so big i cant add more i just have to find a way to reduce loss...once i get out of this mess i will never ever go against trend..its all part of development...
very taxing way of learning mate. hope it turns for u.
Trading is 80% Emotional, 20% Technical
  • #84,633
  • Aug 28, 2008 11:29am Aug 28, 2008 11:29am
Quoting therainmaker
On a personal big picture bias opinion....

Somewhat the plunge of the cable reminded me of black Wednesday in 1992. It went from 2.0081 to 1.4048 in like... 2 or 4 months... It took about 16 years before the GBPUSD went back to the price again.

Back then this plunge was led by George Soro... I really wander what really cause the drop of 1000 pips in one month this time.


Oh well, let's see how it goes ...

-meanwhile get your nachos and popcorn to enjoy the show.


Here's more about Black Wednesday.

http://en.wikipedia.org/wiki/Black_wednesday
Wow, this looks incredible. Over 2000 pips in 6 days :|.
But now looks really simillar but not so fast.
  • #84,634
  • Aug 28, 2008 11:30am Aug 28, 2008 11:30am
Quoting fx local
Oil just fell $5.00 from its highs!! "should could would" - aint gona make u any money

i do what my trading plan and money management tell me to do!!
to be able to survive u need money management and specific risk plan, otherwise u end up running out of margin and gambling with losses...

yes, losses are apart of the game,




big bhoys!! i assume u refering to hedge funds, SWF and banks??!
the trend is down no trader at bank would position long sterling when sentiment was soo against it relative to the dollar, yeah u may be able to catch a small profit taking bounce here and there but u miss the main moves which are down according to my charts and broker!!......

happy trading gud luck with ur long

Virtually every part of that post is wrong. That is exactly what the big boys do. Most Traders at the bank are positioning long so while i appreciate the thoughts, I believe you are messed up in your thinking.

If it continues down i will lose thats fine, but again I find serious holes in your thinking.


Thats my two cents
  • #84,635
  • Aug 28, 2008 11:33am Aug 28, 2008 11:33am
Quoting fx local
Oil just fell $5.00 from its highs!! "should could would" - aint gona make u any money

i do what my trading plan and money management tell me to do!!
to be able to survive u need money management and specific risk plan, otherwise u end up running out of margin and gambling with losses...

yes, losses are apart of the game,

big bhoys!! i assume u refering to hedge funds, SWF and banks??!
the trend is down no trader at bank would position long sterling when sentiment was soo against it relative to the dollar, yeah u may be able to catch a small profit taking bounce here and there but u miss the main moves which are down according to my charts and broker!!......

happy trading gud luck with ur long
i love your energy bro..i can almost feel that your pumped, good for u..making money for me would be nice a bonus, i did give myself a year to gain experience and for me it really is about getting experience and learning more..when this year end ....i will look to kill it!!

good luck to u m8......keep em comin
  • #84,636
  • Aug 28, 2008 11:35am Aug 28, 2008 11:35am
Quoting steelhead
Virtually every part of that post is wrong. That is exactly what the big boys do. Most Traders at the bank are positioning long so while i appreciate the thoughts, I believe you are messed up in your thinking.

If it continues down i will lose thats fine, but again I find serious holes in your thinking.


Thats my two cents
stick ur 2 cents pal! ur the one who is seriously deluded! u dont even know what big bhoy is. do some research and see what they are up to! do u work in a bank or big bhoy!?

just check a DAILY CHART OF CABLE to see what they are upto!! a monkey could see what the trend is and profit from it.
Trading is 80% Emotional, 20% Technical
  • #84,637
  • Aug 28, 2008 11:38am Aug 28, 2008 11:38am
Quoting nAVIN2007
i love your energy bro..i can almost feel that your pumped, good for u..making money for me would be nice a bonus, i did give myself a year to gain experience and for me it really is about getting experience and learning more..when this year end ....i will look to kill it!!

good luck to u m8......keep em comin
yep u get there in the end bro if u keep at it, market always teaches u to do wrong thing its like buying on weakness, best always to buy when the market is strong and shows sign of strength,
Trading is 80% Emotional, 20% Technical
  • #84,638
  • Aug 28, 2008 11:38am Aug 28, 2008 11:38am
Quoting magictrader
Wow, this looks incredible. Over 2000 pips in 6 days :|.
But now looks really simillar but not so fast.
imagine if you have the patience when you short GBPUSD at $2.00 in Jul and close position today.. say @ 1.83.. could have retired already.. *Day dream.*
  • #84,639
  • Aug 28, 2008 11:42am Aug 28, 2008 11:42am
Quoting fx local
stick ur 2 cents pal! ur the one who is seriously deluded! u dont even know what big bhoy is. do some research and see what they are up to! do u work in a bank or big bhoy!?

just check a DAILY CHART OF CABLE to see what they are upto!! a monkey could see what the trend is and profit from it.

Im done. I dont need to get into a shouting match with a small retail trader. I promise you I know what I am doing. I have traded the pound to the long side several times over the last few weeks and made 100+ pips everytime.

You go ahead and keep scalping those 10 pips fxlocal noble work you are doing.
  • #84,640
  • Aug 28, 2008 11:43am Aug 28, 2008 11:43am
Quoting fx local
a monkey could see what the trend is and profit from it.
you mean george W does forex when he should be nuking people ?
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