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Cable Update (GBPUSD)

  • #94,381
  • Oct 28, 2008 1:02pm Oct 28, 2008 1:02pm
My advice to you is this. Look at a 4hr or 1hr chart of cable. See how its going sideways? Don't trade sideways markets. Thats how you keep your profits and not give them back.
Just Trade It
  • #94,382
  • Oct 28, 2008 1:04pm Oct 28, 2008 1:04pm
Quoting Big Wave Rider
My advice to you is this. Look at a 4hr or 1hr chart of cable. See how its going sideways? Don't trade sideways markets. Thats how you keep your profits and not give them back.

Great tip!
  • #94,383
  • Oct 28, 2008 1:07pm Oct 28, 2008 1:07pm
The danger of a strong retrace must be getting closer but we dont care because we set realistic s/ls right ?

anyone without s/ls right now could be totally wiped out at any second

not that I am alarmist you understand

I took an anti-histamine for a skin rash yesterday (damned cats), and it made me dopier than usual and i lost some - I clawed it back (damned cats) with 3 scalping trades - but I broke my own rule yesterday - not to trade when tired or upset

Feel good today and ripping some nice small trades out of this - but s'ls are more important right now than at any time this year i reckon

There are tigers in this jungle
  • #94,384
  • Oct 28, 2008 1:07pm Oct 28, 2008 1:07pm
Just got back in from lunch. I can't believe my shorts are still open. Their still for sale at 1.5650. We'll see where she goes from here.

Good luck trading everyone!
Just digging in the trenches like everyone else!
  • #94,385
  • Oct 28, 2008 1:07pm Oct 28, 2008 1:07pm
Quoting Big Wave Rider
My advice to you is this. Look at a 4hr or 1hr chart of cable. See how its going sideways? Don't trade sideways markets. Thats how you keep your profits and not give them back.
I am not a full time trader, spend 2 or 3 hours only a day, therefore I use M1 to trade because many clue to make entry in a short time ! OK I am out, happy tradding all !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #94,386
  • Oct 28, 2008 1:16pm Oct 28, 2008 1:16pm
Quoting manize
I am not a full time trader, spend 2 or 3 hours only a day, therefore I use M1 to trade because many clue to make entry in a short time ! OK I am out, happy tradding all !
I am a full time trader, and I spend as well only 2 or 3 hours a day looking at charts. But I trade long term time frames. (some times I cheat and scalp when I see a good set up like the 100 pips I just got from U.J) Longer time frames give you less stress and more pips. (I still have over 4,000 pips in profit in cable alone, not counting E.U) But every trader is different and you should trade what ever T.F you are most comfortable in.
Just Trade It
  • #94,387
  • Oct 28, 2008 1:20pm Oct 28, 2008 1:20pm
Quoting eohater
Just got back in from lunch. I can't believe my shorts are still open. Their still for sale at 1.5650. We'll see where she goes from here.

Good luck trading everyone!
Yeah! Someone just ate my short. No worries. It had nice profit and it was the last 3 from my short from the 1h 62ema. Remember I took three off already. I was just holding them to see where she went. I wouldn't be surprised if we see the 1h 62ema and maybe more.
Just digging in the trenches like everyone else!
  • #94,388
  • Oct 28, 2008 1:25pm Oct 28, 2008 1:25pm
tomorrow if Fed cut 50 bps what is cable going to react?
  • #94,389
  • Oct 28, 2008 1:25pm Oct 28, 2008 1:25pm
Quoting Big Wave Rider
I am a full time trader, and I spend as well only 2 or 3 hours a day looking at charts. But I trade long term time frames. (some times I cheat and scalp when I see a good set up like the 100 pips I just got from U.J) Longer time frames give you less stress and more pips. (I still have over 4,000 pips in profit in cable alone, not counting E.U) But every trader is different and you should trade what ever T.F you are most comfortable in.
I know your model works, but you must have some far off target in mind and you must have wide s/l's in place too....

There is a possiblity that the bounces right now could be quite big and some of those big s/l's will get hit .... I suppose it doesnt matter so long as you get back in at the top of the bounce and your long term target remains valid


I have seen cable at 1.10 and 1.30 etc in far less fraught times than these and I am thinking about setting that sort of level as my long term target

I think I will wait for a strong bounce and then enter big style
  • #94,390
  • Oct 28, 2008 1:26pm Oct 28, 2008 1:26pm
Quoting leu02cz
tomorrow if Fed cut 50 bps what is cable going to react?
and what if BOE changes with it tomorrow with 50 bps cut?
  • #94,391
  • Oct 28, 2008 1:27pm Oct 28, 2008 1:27pm
Quoting eohater
Yeah! Someone just ate my short. No worries. It had nice profit and it was the last 3 from my short from the 1h 62ema. Remember I took three off already. I was just holding them to see where she went. I wouldn't be surprised if we see the 1h 62ema and maybe more.
I did. I am long from 5560. The small upward channel.

+100 locked in, waiting to see if it bounces from your fav. 62
  • #94,392
  • Oct 28, 2008 1:29pm Oct 28, 2008 1:29pm
i still think cable will touch 6040 before fall like a rock. long at 1.5630 (sl +20) target 1.6035
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  • #94,393
  • Oct 28, 2008 1:31pm Oct 28, 2008 1:31pm
Quoting m00jiman
I did. I am long from 5560. The small upward channel.

+100 locked in, waiting to see if it bounces from your fav. 62
Good job!
Just digging in the trenches like everyone else!
  • #94,394
  • Oct 28, 2008 1:35pm Oct 28, 2008 1:35pm
Im watting
GELORE
  • #94,395
  • Oct 28, 2008 1:35pm Oct 28, 2008 1:35pm
Quoting m00jiman
I did. I am long from 5560. The small upward channel.

+100 locked in, waiting to see if it bounces from your fav. 62
She is pissed off and moving right now. No bounce. I hope no one jumped on a short from the 1h 62 price. We had two bounces already. I told myself I wasn't going to get my hand caught in the cookie jar. Looking at the 1h time frame. We have higher highs and higher lows. Confirms a northerly move. As to how far? No one knows! Trade what you see and get in where it fits. She'll show you the way if you wait for it patiently.
Just digging in the trenches like everyone else!
  • #94,396
  • Oct 28, 2008 1:35pm Oct 28, 2008 1:35pm
waiting for 5747 to break on 15 min TF, if not 130 pips locked in already.
  • #94,397
  • Oct 28, 2008 1:36pm Oct 28, 2008 1:36pm
Quoting allserene
I know your model works, but you must have some far off target in mind and you must have wide s/l's in place too....

There is a possiblity that the bounces right now could be quite big and some of those big s/l's will get hit .... I suppose it doesnt matter so long as you get back in at the top of the bounce and your long term target remains valid


I have seen cable at 1.10 and 1.30 etc in far less fraught times than these and I am thinking about setting that sort of level as my long term target

I think I will wait for a strong bounce and then enter big style
My target is lower, but I am thinking of taking profit cause my model is getting ready to tell me to do so. And if I do then I will wait for the bounce to finish and short it at the top. Or not. It all depends on what happens.
Wait and see
Just Trade It
  • #94,398
  • Oct 28, 2008 1:56pm Oct 28, 2008 1:56pm
Quoting m00jiman
waiting for 5747 to break on 15 min TF, if not 130 pips locked in already.
It came back to stop me, and pushed up like MFer!!
  • #94,399
  • Oct 28, 2008 2:02pm Oct 28, 2008 2:02pm
There was the higher high. Now it's time for another higher low.
Just digging in the trenches like everyone else!
  • #94,400
  • Oct 28, 2008 2:05pm Oct 28, 2008 2:05pm
im waitting
GELORE
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