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Cable Update (GBPUSD)

  • #94,621
  • Oct 29, 2008 11:44am Oct 29, 2008 11:44am
Quoting micho
ok target roughly touched 1.6445... give or take 3 pips
also touched 10 bar average on daily at 6469 and came back down, I think it will need to break this to continue up for now
please DON'T copy my trades I am still learning
  • #94,622
  • Oct 29, 2008 11:45am Oct 29, 2008 11:45am
Quoting micho


zupport 1.6385
I go to lunch after this pingpong and this is what I come to? what a B!t@* lol

waiting for next setup.
  • #94,623
  • Oct 29, 2008 11:45am Oct 29, 2008 11:45am
Quoting Big Wave Rider
Corn and Wheat futures are skyrocketing
There must be a freeze in area's where they have not harvested yet.

Soybeans are following suit, so is natural gas however sweet light crude staying flat.
Just Trade It
  • #94,624
  • Oct 29, 2008 11:46am Oct 29, 2008 11:46am
now double top lol lol
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When life gives you lemons, make lemonade
  • #94,625
  • Oct 29, 2008 11:46am Oct 29, 2008 11:46am
These markets are driving me crazy!!!
  • #94,626
  • Oct 29, 2008 11:48am Oct 29, 2008 11:48am
and many accounts survived today yet to witness another crazy day, but some accounts got blown and didnt make it with us

this cable is an account blower
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When life gives you lemons, make lemonade
  • #94,627
  • Oct 29, 2008 11:49am Oct 29, 2008 11:49am
if we break this top now say hallelujah we go to 1.6650 straight
When life gives you lemons, make lemonade
  • #94,628
  • Oct 29, 2008 11:50am Oct 29, 2008 11:50am
Quoting m00jiman
Wow, she's moving fast. We have daily resistance at 6417. I'll just wait and watch.
Need to close above this for next hr. we might see good move up, but rate cuts news coming soon!
  • #94,629
  • Oct 29, 2008 11:53am Oct 29, 2008 11:53am
Don't forget that this is the interest rate announcement being priced in. It's going to drop even faster than it came up, Then it will shoot up again, then down again..........
Just Trade It
  • #94,630
  • Oct 29, 2008 11:54am Oct 29, 2008 11:54am
probably that was our double top... lets see
When life gives you lemons, make lemonade
  • #94,631
  • Oct 29, 2008 11:55am Oct 29, 2008 11:55am
consolidation time maybe, then another double top on the higher time frame....??
When life gives you lemons, make lemonade
  • #94,632
  • Oct 29, 2008 11:59am Oct 29, 2008 11:59am
Quoting ezmystic
that would be typical, hope it wasn't too bad for ya. Are you trading on a practice account even if you can't or aren't trading on your real money account because it would be good practice and it doesn't matter if you blow it .

I have also started taking a screen shot and labelling the chart like I post of every trade I make good or bad to look back over and work out and try and understand mistakes and good points. I also saved eo's charts to look over and compare they have helped me loads.
actually ive gone from over trading to being scared to trade, i tried demo but becomes meaningless since my problem is nerves
i think im going to change my broker one where i have the option to trade microlots as well as mini...then i can relax...and im sure i will make more, once i get my confidence back

aving yur charts bro is a great idea...start a journal on FF u will be amazed the diference it can make, i think the minute i started mine my entries improved immediately
  • #94,633
  • Oct 29, 2008 12:04pm Oct 29, 2008 12:04pm
Quoting nAVIN2007
actually ive gone from over trading to being scared to trade, i tried demo but becomes meaningless since my problem is nerves
i think im going to change my broker one where i have the option to trade microlots as well as mini...then i can relax...and im sure i will make more, once i get my confidence back

aving yur charts bro is a great idea...start a journal on FF u will be amazed the diference it can make, i think the minute i started mine my entries improved immediately
cheers bro I hadn't thought of that I will start one.
please DON'T copy my trades I am still learning
  • #94,634
  • Oct 29, 2008 12:09pm Oct 29, 2008 12:09pm
Quoting \"expert\"
As i said north day for cable.Moving my TP to 6800 area.If USD make rate cuts this will go even higher.Question is how much will they cut.If they 0.25 we might then go down.If we don't have rate cut we will fall i think hard.They might take that rate cut for next week together with ECB.This finacial down move is global so we might have global rate cut at same time so the market won;t get crazy.If they cut 0.5 no big move i think because price is alredy up and we all expect them to cut 0.5%.If they cut more then cable will go as a bird up.This 6400 pivot line should be nice support untill news but we will see.
When all this crazy thing with rates get over we might see new lows again because GBP needs to cut as well.Just need to see will they do it together or not and how much.And GBP have bad data as well maybe even worst then USD.That daily gann i was talking about is now arround 6650-90 area.
6400 holding.importan support i have on 6375 area All ganns are below price but daily.Momentum,RSI is above 50,MACD is above zero but negative on 5 m chart,,so this is retrace for now.When everything goes below 0 or 50 level short maybe but not before news i think.Now is coming time of great volatility before news.Macd is also making lower hihgs but price not so loosing power slowly but 1 more push before some down as i hope to be.

And we all need to see will they cut rates and how much.How much is very important.For people who wait to see cut and then to go onf be carefull how much cut will be.Even if 0.50 move might not be big because that cut is priced in very much.
Trade well
  • #94,635
  • Oct 29, 2008 12:16pm Oct 29, 2008 12:16pm
i dont believe my eyes USDCAD 1.21!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!1 holy shitttt
When life gives you lemons, make lemonade
  • #94,636
  • Oct 29, 2008 12:17pm Oct 29, 2008 12:17pm
Quoting Big Wave Rider
Don't forget that this is the interest rate announcement being priced in. It's going to drop even faster than it came up, Then it will shoot up again, then down again..........
can you just imagine the carnage if they dont do the full 50 as expected....

prepare yourselves for it guys....
Trading is 80% Emotional, 20% Technical
  • #94,637
  • Oct 29, 2008 12:18pm Oct 29, 2008 12:18pm
i think this is a real retrace...
if u still wearing a shortpants, must be ready runroad naked...
but i might be wrong....
  • #94,638
  • Oct 29, 2008 12:20pm Oct 29, 2008 12:20pm
Quoting fx local
can you just imagine the carnage if they dont do the full 50 as expected....

prepare yourselves for it guys....
some are expecting .75
Just digging in the trenches like everyone else!
  • #94,639
  • Oct 29, 2008 12:24pm Oct 29, 2008 12:24pm
Quoting micho
i dont believe my eyes USDCAD 1.21!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!1 holy shitttt

Holding 400 pips on that one.
Just Trade It
  • #94,640
  • Oct 29, 2008 12:27pm Oct 29, 2008 12:27pm
Quoting Big Wave Rider
Holding 400 pips on that one.
what do you mean?
When life gives you lemons, make lemonade
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