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Cable Update (GBPUSD)

  • #91,481
  • Oct 13, 2008 10:48pm Oct 13, 2008 10:48pm
Quoting eohater
Unfortunately I think you were too early on your entry. I think a long back to the recent high might have worked out. It's bouncing off the 15m 10ema and trying to break through. I took a short from 1.7468 and closed it out for 30 quick ones. Now I'm sitting on the side and I'll be back in a couple of hours to relook at the charts. It's still family time for me! See everyone in a couple of hours.
Here's the short that I took earlier during the Asian session. I only target 20-30 pips during this time of trading. I would have reentered long, but it was still family time and I didn't have time to manage the trade.
Attached Image (click to enlarge)
Click to Enlarge Name: chart2.JPG Size: 125 KB
Just digging in the trenches like everyone else!
  • #91,482
  • Oct 13, 2008 10:58pm Oct 13, 2008 10:58pm
Quoting eohater
Here's the short that I took earlier during the Asian session. I only target 20-30 pips during this time of trading. I would have reentered long, but it was still family time and I didn't have time to manage the trade.
because of the upcoming news i feel a down spout is in order,one never knows with this market,but I am going short right now
  • #91,483
  • Oct 13, 2008 11:15pm Oct 13, 2008 11:15pm
Quoting torcuswelby
because of the upcoming news i feel a down spout is in order,one never knows with this market,but I am going short right now
hey man...here's a bit of info RE trading news.
1. if you're going to trade news, it's better to trade AFTER the spike of news. it often returns from it's spike...at least a little.
2. if you're going to trade news, be sure to have a solid SL set. the last thing you need is to be 300 pips in the red in side of 4 minutes. that's not so likely on the Cable, but these days it is certainly possible.
3. if you don't have a mathematical probability, you're gambling.

hope this helps out
  • #91,484
  • Oct 13, 2008 11:27pm Oct 13, 2008 11:27pm
Quoting dakrusha
hey man...here's a bit of info RE trading news.
1. if you're going to trade news, it's better to trade AFTER the spike of news. it often returns from it's spike...at least a little.
2. if you're going to trade news, be sure to have a solid SL set. the last thing you need is to be 300 pips in the red in side of 4 minutes. that's not so likely on the Cable, but these days it is certainly possible.
3. if you don't have a mathematical probability, you're gambling.

hope this helps out
that certainly does help out,Mike
  • #91,485
  • Oct 13, 2008 11:35pm Oct 13, 2008 11:35pm
eohater,
please, any idea where cable is headed today
  • #91,486
  • Oct 13, 2008 11:38pm Oct 13, 2008 11:38pm
Quoting albashir
eohater,
please, any idea where cable is headed today
where ever she wants. I'm currently watching my 15m 10ema. If the current candle should close through the 10ema, I'll be watching for the next candle to confirm and knock her head on the bottom of the 10ema at which point I will be going short and targeting the 35sma on the 15m chart. From there, I'll be managing the trade for possibly falling further. Time for patience. She could bounce off the 10ema, and continue north.
Just digging in the trenches like everyone else!
  • #91,487
  • Oct 13, 2008 11:41pm Oct 13, 2008 11:41pm
Quoting eohater
where ever she wants. I'm currently watching my 15m 10ema. If the current candle should close through the 10ema, I'll be watching for the next candle to confirm and knock her head on the bottom of the 10ema at which point I will be going short and targeting the 35sma on the 15m chart. From there, I'll be managing the trade for possibly falling further. Time for patience. She could bounce off the 10ema, and continue north.
i would have to agree...even though i'm short at 524 w TP set to 485
  • #91,488
  • Oct 13, 2008 11:42pm Oct 13, 2008 11:42pm
Quoting dakrusha
i would have to agree...even though i'm short at 524 w TP set to 485
Nice entry. I thought about shorting it at the open of the most recent 4h candle. I like how the last 4h candle burned herself out.
Just digging in the trenches like everyone else!
  • #91,489
  • Oct 13, 2008 11:44pm Oct 13, 2008 11:44pm
Quoting eohater
Nice entry. I thought about shorting it at the open of the most recent 4h candle. I like how the last 4h candle burned herself out.
thanks bro. i think this is a pretty solid trade, but i'm sure we'll see 7561 again before we see 6775. i'm curious to see how the world come apart after the banks reopen tomorrow.
  • #91,490
  • Oct 13, 2008 11:45pm Oct 13, 2008 11:45pm
Quoting Chris_35
These are what I call my local fibs. I renew them as the day progresses deleting the oldest one. But I always keep fibs from hi lo of day b4 until part way through the asian session when I have to hit the sack.

ps in one of your previous posts you mentioned about an S or R being tested 3 times b4 it broke or bounced (not 100% sure of your wording) but I cant find the post. Can u remember what I may be talking about

pps or pss nice to catch you online again, how has your day been

i went looking through all my post and can't seem to find the post your talkin about . i know which one, but can't find it.
  • #91,491
  • Oct 13, 2008 11:45pm Oct 13, 2008 11:45pm
Quoting dakrusha
thanks bro. i think this is a pretty solid trade, but i'm sure we'll see 7561 again before we see 6775. i'm curious to see how the world come apart after the banks reopen tomorrow.
Just digging in the trenches like everyone else!
  • #91,492
  • Oct 13, 2008 11:46pm Oct 13, 2008 11:46pm
ok, be here to monitor ur ost hope u'll alert wen it does...
  • #91,493
  • Oct 13, 2008 11:46pm Oct 13, 2008 11:46pm
Last 15m candle closed above the 10ema, I'm not sold on going short yet. She could bounce up to the recent high or higher.
Just digging in the trenches like everyone else!
  • #91,494
  • Oct 14, 2008 12:09am Oct 14, 2008 12:09am
Quoting eohater
Last 15m candle closed above the 10ema, I'm not sold on going short yet. She could bounce up to the recent high or higher.
Did you guys see it bounce? I grabbed another 20 pips
Just digging in the trenches like everyone else!
  • #91,495
  • Oct 14, 2008 12:29am Oct 14, 2008 12:29am
Quoting eohater
Did you guys see it bounce? I grabbed another 20 pips
lower highs on the 15,could be forming a trend line
  • #91,496
  • Oct 14, 2008 12:32am Oct 14, 2008 12:32am
Quoting eohater
Did you guys see it bounce? I grabbed another 20 pips
that was sweet...however i was busy typing and 'splainin stuff to make that trade..
  • #91,497
  • Oct 14, 2008 12:35am Oct 14, 2008 12:35am
Quoting dakrusha
that was sweet...however i was busy typing and 'splainin stuff to make that trade..
Just digging in the trenches like everyone else!
  • #91,498
  • Oct 14, 2008 12:36am Oct 14, 2008 12:36am
Quoting dakrusha
that was sweet...however i was busy typing and 'splainin stuff to make that trade..
is this an up flag forming or is it just me
  • #91,499
  • Oct 14, 2008 12:40am Oct 14, 2008 12:40am
Ok guys, I'm not a FIB master, but I do look at them and certain levels. Going for the recent high of 1.867X and low of 1.678X, we're just above the 38% of 1.75, are we headed towards the 50% mark at 1.772x? This is near the 150ema on the 4h chart.
Just digging in the trenches like everyone else!
  • #91,500
  • Oct 14, 2008 12:42am Oct 14, 2008 12:42am
ya i too feel it would go to 1.77 levels due to bailout news in UK....
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