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Cable Update (GBPUSD)

  • #84,721
  • Aug 28, 2008 2:46pm Aug 28, 2008 2:46pm
Quoting Infinity
yeah right..
I would only keep the cost of my trip down to Jamaica and back, hotel and expenses and maybe some souveniers of course.
Just digging in the trenches like everyone else!
  • #84,722
  • Aug 28, 2008 2:46pm Aug 28, 2008 2:46pm
Quoting nAVIN2007
cause of profit taking its only going up now cause its a retracement and when there a resistance it probably sink again..but i hope your right and it goes quite high ...
nav if you don't stop all this I will spank your botty !

leave the retracement pips to someone else and only short the peaks IF you are convinced the trend is down

If you think GBP is miraculously going to come back into favour and go to 2.04 - THEN you can go long

don't chase the market or it will meet you coming back

It's definitely a woman and only cool dude stuff will win the day - start chasing and you will get dumped
  • #84,723
  • Aug 28, 2008 2:49pm Aug 28, 2008 2:49pm
fundamentally speaking UK looks in much deeper shit than the US at the moment
so dont depend on fundamentals to drive u to buy

and technically speaking the trend is clearly south
so y fight it
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #84,724
  • Aug 28, 2008 2:49pm Aug 28, 2008 2:49pm
Quoting allserene
nav if you don't stop all this I will spank your botty !

leave the retracement pips to someone else and only short the peaks IF you are convinced the trend is down

If you think GBP is miraculously going to come back into favour and go to 2.04 - THEN you can go long

don't chase the market or it will meet you coming back

It's definitely a woman and only cool dude stuff will win the day - start chasing and you will get dumped

  • #84,725
  • Aug 28, 2008 2:49pm Aug 28, 2008 2:49pm
Quoting steelhead
Im not trying to boast my ego, but I is happening just as i predicted. Broke 8300 got people panicking the four hour closed around 8250, and up she goes.


I am trying to help but you all don't listen. Big boys are not selling down there they are positioning themselves to the longside.

Big Boys.............LOL!! its a retracement buddy.........i.e. profit taking.

Just shows your inexperience in trading, longs are not called until what??
  • #84,726
  • Aug 28, 2008 2:49pm Aug 28, 2008 2:49pm
Quoting eohater
You made another good call for the bottom as you did yesterday. But yesterday you were calling for a 700-800 pip move to fill a gap that no one can find. Additionally, not all gaps are filled. There's a gap from Nov of 2007 that is still unfilled. The overall trend is down. It's 3:45 est and profit taking is happening. Not to say that this will not continue to rise because it can, but she falls easier than she rises lately.

You think that kinda moves happens in one day. It takes time for that to happen. I am enjoying the pips on the way up though.

This is not profit taking. this is the professionals positioning themselves to the longside. Why is it so hard to understand that.
  • #84,727
  • Aug 28, 2008 2:50pm Aug 28, 2008 2:50pm
Quoting allserene
nav if you don't stop all this I will spank your botty !

leave the retracement pips to someone else and only short the peaks IF you are convinced the trend is down

If you think GBP is miraculously going to come back into favour and go to 2.04 - THEN you can go long

don't chase the market or it will meet you coming back

It's definitely a woman and only cool dude stuff will win the day - start chasing and you will get dumped

thats the best trading strategy
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #84,728
  • Aug 28, 2008 2:53pm Aug 28, 2008 2:53pm
Quoting allserene
nav if you don't stop all this I will spank your botty !

leave the retracement pips to someone else and only short the peaks IF you are convinced the trend is down

If you think GBP is miraculously going to come back into favour and go to 2.04 - THEN you can go long

don't chase the market or it will meet you coming back

It's definitely a woman and only cool dude stuff will win the day - start chasing and you will get dumped

excellent stuff....
Patience + Discipline - Greed = Success
  • #84,729
  • Aug 28, 2008 3:03pm Aug 28, 2008 3:03pm
Quoting steelhead
You think that kinda moves happens in one day. It takes time for that to happen. I am enjoying the pips on the way up though.

This is not profit taking. this is the professionals positioning themselves to the longside. Why is it so hard to understand that.
Trade what you see and I hope your profitable. This is a counter trend trade at this point in time. I don't see a full commitment for it to start going long again. We still have lower highs and lower lows, thus a downward trend.
Just digging in the trenches like everyone else!
  • #84,730
  • Aug 28, 2008 3:14pm Aug 28, 2008 3:14pm
Quoting salah k.
fundamentally speaking UK looks in much deeper shit than the US at the moment
so dont depend on fundamentals to drive u to buy

and technically speaking the trend is clearly south
so y fight it
Here's me pratting around with forex trying to make a few k - and taking my eye of the fact that my entire UK wadlette is with the Halifax/Bank of Scotland which could go keel up any moment

As there are only a handful of banks in the UK, we are used to thinking of them as unsinkable

In the US its normal for a few hundred banks to go pop every decade or two so nobody is surprised

I will sweat it for 2 weeks til I can get back over there and haul it over to the HSBC which should be un peu less crashable but crapo interest

I suppose 7% interest rate should have alerted me to the danger

It's too late to change it to USD and spread it around in the US like Paris Hilton

All this does create a downward spiral even if it's only perceptions - and I see 1.70 beckoning
  • #84,731
  • Aug 28, 2008 3:28pm Aug 28, 2008 3:28pm
Quoting allserene
and religion too ?

' no religion. thats hard to imagine" its easy if you try John.


To answer the question about timeframe and time. I trade around the close of the four hour candle. For instance the 9 am pacific candle this morning i went long.

I usually dont trade during asia or slow times. Most trades are taken during london or New York.

During the day i work on building my buisness, but also like messing around in here. I take 3-5 trades a week. i wait for the system i trade to setup and take it. Sometimes i only get one trade during the week, but i let the market come to me I don't chase it.

When I do take a trade i follow the number one rule in trading. Let your profits run cut your losses short.
  • #84,732
  • Aug 28, 2008 3:30pm Aug 28, 2008 3:30pm
Quoting allserene
Where I live in the deserts of washington state, everyone has a gun and a pickup and they believe in jesus and they are prepared to shove a hot soldering iron deep into the eyes of anyone who doesn't to teach em a lesson..

It's IRAN but with cowboy hats

They even have a law to say LEGAL aliens can't have guns as they don't want anyone shooting back.

Tony Blair could not shoot clay pigeons on a sunday morning - it's a deportable felony

It's a bit different to England and that's for sure
All I am a native of the great state of washington. what part of eastern washington do you live in. I grew up in Issaquah and Bellevue, and recently lived in Duvall. I dont live in Washington now, but it will always be home
  • #84,733
  • Aug 28, 2008 3:36pm Aug 28, 2008 3:36pm
Absolutely agree Nav there is no sign of buyers on daily or weekly,or monthly.


Quoting nAVIN2007
i have to ask this ..yes it is a trend reversal from long to short...theres no sign right now to say this is going up unless u thinking hurricain is going to damage oil supply and oil is gonna go nuts and we hiting a hectic weekend where it all reverses...? ..is this what u mean

wekkly and monthly ned to show a pin or something b4 reversal can even be contemplated.....

i get the buying low thing.....thats why i want this to really tank...1,7 sooner the better...if it goes up im in bigger mess..at least if it goes down 1000 pips i can make sure i have a bottom and ride the puppy up..
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #84,734
  • Aug 28, 2008 3:42pm Aug 28, 2008 3:42pm
Quoting Bones
Absolutely agree Nav there is no sign of buyers on daily or weekly,or monthly.
i think the bulls converted to bears..
  • #84,735
  • Aug 28, 2008 7:00pm Aug 28, 2008 7:00pm
yeah im gonna hold my short order and close out tomorrow when I feel its right. I dont want to hold it through the weekend because sunday nights have always scared me. Take your pips and run mentality. I also wanted to ask if any of you guys use a pocket PC to watch/adjust your trades during the day? Im a electrician so Im not at a computer all day. Just wondering.

Happy pips
Lets do this...
  • #84,736
  • Aug 28, 2008 7:22pm Aug 28, 2008 7:22pm
Quoting jcminvest
yeah im gonna hold my short order and close out tomorrow when I feel its right. I dont want to hold it through the weekend because sunday nights have always scared me. Take your pips and run mentality. I also wanted to ask if any of you guys use a pocket PC to watch/adjust your trades during the day? Im a electrician so Im not at a computer all day. Just wondering.

Happy pips
I have considered doing that as well because i have a day job of about 3 or 4 days a week. I do my trading on MetaTrader which have a Mobile Terminal version which could be a good way to track trades. I don't think Blackberry's will let the software work. You could also get a smartphone, so you have the benefits of a Handheld PC and Phone in your hand, i thought that would be a better idea instead of spending a few hundred on Pocket PC.
"The trend is your friend, until the end."
  • #84,737
  • Aug 28, 2008 7:39pm Aug 28, 2008 7:39pm
yeah im with verizon and interbank fx and I talked to a rep today about it (from interbank) I know he spoke the world of it as expected. It just I could of gained a extra 50 pips today if I would of had it on me. Just leary of how easy it will be to learn. Ive never used a pocket PC which the recomend for ease of use. I dunno
Lets do this...
  • #84,738
  • Aug 28, 2008 7:57pm Aug 28, 2008 7:57pm
Gable Up Signal Is it giving?
  • #84,739
  • Aug 28, 2008 8:05pm Aug 28, 2008 8:05pm
I would not long the cable right now... why go against odds?
Lets do this...
  • #84,740
  • Aug 28, 2008 8:11pm Aug 28, 2008 8:11pm
Quoting jcminvest
I would not long the cable right now... why go against odds?
The guess It up will do
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