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Cable Update (GBPUSD)

  • #95,861
  • Nov 5, 2008 9:17pm Nov 5, 2008 9:17pm
strategy "Wild cat" Daily chart. chart 1
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  • #95,862
  • Nov 5, 2008 9:18pm Nov 5, 2008 9:18pm
strategy "Wild cat" Daily chart. chart 2
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  • #95,863
  • Nov 5, 2008 9:26pm Nov 5, 2008 9:26pm
hi traders

euro+cable continued today the usual down move for both
influenced by the long term weakness of GBP+euro against dollar.

i forecast hours ago the continuation of down trend of both and as usual too a minor retrace to the up happened first due to the news and then price continue his down trend.

& i want you my fellow traders to take care of fundamental as you take care of technicals :

and to be clear to you
all the buyers and the sellers are here in those threads and you know the forex basic rule
only 20% win and the other 80% loss
so try to figure it out by your mind

if you find most posts talk about retrace that will may happen you will find the price is going down, and if you find most posts talk about the continuation of down trend you will find price is going up .
they call this trick (news).

so trade well guys and have fun.
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  • #95,864
  • Nov 5, 2008 9:45pm Nov 5, 2008 9:45pm
Good morning to some and evening to some! I'm still sitting on my shorts from 1.6155 and 1.5975. My SL is positive. I'm not sure how far she will go before she pulls back to fall some more. I'm expecting it to pullback to the 1h 62ema for a nice short. If I'm still awake, I'll add to my shorts at the 62ema and then start looking to close my positions. The 10 sma on the 1h is holding her pretty good so far.

Good luck to everyone and fill your account full of green pips!
Just digging in the trenches like everyone else!
  • #95,865
  • Nov 5, 2008 11:25pm Nov 5, 2008 11:25pm
morning all, still short from 6168, +300 ish pips . Does anyone think it will go down further or is it good to realize profit? actually as I'm writing it's going down, but looks maybe like rangin
please DON'T copy my trades I am still learning
  • #95,866
  • Edited 11:49pm Nov 5, 2008 11:26pm | Edited 11:49pm
Morning all.On 15m we are above gann.On 1 hr not for now but i think we will go above.If we get close above and of on 15 i get good set up i might go long for a while until 4 hr gann which is arround 6000-6007 area for now.

That blue line suport now should be resistance and that would be nice.arround DP i will see to add more shorts.
Parabolic is very bulish for now on 15 1 hr and 4 hr as well.That needs to change for short.If we break 1 hr and even 4 hr gann,or we break ex suport line we might test 6200 high again.We didn't go below 5750 area so no lows and that looks like a nice deep of uptrend for now.Then again we have rates cut today so...we will see.Hope this rate cuts will take action soon if not uptrend is done deal.See ya


I wish we have more charts heare,but...
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  • #95,867
  • Nov 5, 2008 11:52pm Nov 5, 2008 11:52pm
Morning all.

I closed my short from 6173 for 120 pips. Very and : and Just totally struggling to hold a longer term position. So I am studying my butt off to find the confidence to hold. There are so many good contributors here so I know I will learn to do so. I have read about 4 books on Forex lately too but experience is the most important so I am putting in a lot of screen/chart time. so thanks guys.

Expert, well done on so many good calls. Your help is very useful. I am trying to understand your analysis but your charts are v busy and I get quite dizzy with them. When you refer to your "gann" what are you using?
Ride the Bulls bearback!
  • #95,868
  • Nov 6, 2008 12:00am Nov 6, 2008 12:00am
It looks that way but for some reasons it refuses to move.
I guess evryone is waiting for the IR announcement before making any move
  • #95,869
  • Nov 6, 2008 12:03am Nov 6, 2008 12:03am
Quoting alcando
Morning all.

I closed my short from 6173 for 120 pips. Very and : and Just totally struggling to hold a longer term position. So I am studying my butt off to find the confidence to hold. There are so many good contributors here so I know I will learn to do so. I have read about 4 books on Forex lately too but experience is the most important so I am putting in a lot of screen/chart time. so thanks guys.

Expert, well done on so many good calls. Your help is very useful. I am trying to understand your analysis but your charts are v busy and I get quite dizzy with them. When you refer to your \"gann\" what are you using?
The Gann Hi Lo indicator was introduced to me on the Auslanco thread. Very powerful. On the chart the gann is blue line, look at price action. Shud be able to find gann ind for mt4 in attachments.
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Trade what you see, not what you think.
  • #95,870
  • Nov 6, 2008 12:05am Nov 6, 2008 12:05am
look at this 1hr chart and see the classi fib retracements
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please DON'T copy my trades I am still learning
  • #95,871
  • Nov 6, 2008 12:17am Nov 6, 2008 12:17am
ckosed my short at 1.5849, am thinking of going long if right set up comes along.
please DON'T copy my trades I am still learning
  • #95,872
  • Nov 6, 2008 12:22am Nov 6, 2008 12:22am
I add long.SL made so now i look action We are at 38 fib now and DP area.If 1 hr close this way some retrace and more up in my thinking
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  • #95,873
  • Nov 6, 2008 12:23am Nov 6, 2008 12:23am
sorry wrong chart again.this is write one
  • #95,874
  • Nov 6, 2008 12:24am Nov 6, 2008 12:24am
enjoy
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  • #95,875
  • Nov 6, 2008 12:24am Nov 6, 2008 12:24am
I am long from 15850. Cannot decide how long to hold this tho. I am reasonably convinced that the Stirling Shorts are seeing there end as the Carry traders have surely off loaded by now prior to the big cut. The rate cut should also stimulate the market and as the equity market have been moving in correlation to cable I think we could see some long action.

I am planning to hold a long till the news announcement but struggling to justify it. Any opinions?
Ride the Bulls bearback!
  • #95,876
  • Nov 6, 2008 12:28am Nov 6, 2008 12:28am
Thanks, are the attachments in the thread?



Quoting maestr2
The Gann Hi Lo indicator was introduced to me on the Auslanco thread. Very powerful. On the chart the gann is blue line, look at price action. Shud be able to find gann ind for mt4 in attachments.
Ride the Bulls bearback!
  • #95,877
  • Nov 6, 2008 12:36am Nov 6, 2008 12:36am
I am short again from the retest of this broken tl...
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Patience + Discipline - Greed = Success
  • #95,878
  • Nov 6, 2008 12:37am Nov 6, 2008 12:37am
Quoting alcando
I am long from 15850. Cannot decide how long to hold this tho. I am reasonably convinced that the Stirling Shorts are seeing there end as the Carry traders have surely off loaded by now prior to the big cut. The rate cut should also stimulate the market and as the equity market have been moving in correlation to cable I think we could see some long action.

I am planning to hold a long till the news announcement but struggling to justify it. Any opinions?
Just lock in some profit so it doesn't matter if it goes against you and then the candles should tell you where to exit, but I am also really bad at exits, I am trying to work on them.
please DON'T copy my trades I am still learning
  • #95,879
  • Nov 6, 2008 12:42am Nov 6, 2008 12:42am
I think this time 1 hr candle will close very nice.If so firs tretracment and the i look for 6005 area and maybe even next pivot 6046.But this candle on 1 hr not closed yet so will see.Short opened with profit locked.Long active with profit locked.I wonder how much more will it go before sell for rates cut action.

Bettwen us i was expecting to see rom this very morning but indicators said up and had to go up.Last i read post of guy i forgot nick( but if that happens i willlook for his nick for sure),Who said that no effect will be with rate cuts,because of something.Today if no news expected i was sure it will go for new high but with news i was sure this wil go down.We will see inafternoon.

Oh i just see while i was writing my SL for long was hit.Can't wait to see how will close this 1 hr candle.20 min more for close.Yuuuhhhuuuu
  • #95,880
  • Nov 6, 2008 12:44am Nov 6, 2008 12:44am
Thanks, I am approaching the thinking that following a good push up like this it tends to breathe and then return to test the high again. Somebody must want to buy GBP pushing it up again.
Ride the Bulls bearback!
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