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Cable Update (GBPUSD)

  • #99,561
  • Nov 19, 2008 7:17am Nov 19, 2008 7:17am
Thanks for the Good wishes guys, nAV, Pipland, Spin. I have cleared my bias and ready to tune into the cable and not fight it. ahummmm!! Where cable goes, Al shall follow. A good stock market failure should set my nerves at ease and save the day.

A bit of cable surprise and you guys turn into fighting hens. Lets keep it light and useful guys.
Ride the Bulls bearback!
  • #99,562
  • Nov 19, 2008 7:18am Nov 19, 2008 7:18am
There's several diminishing triangles coming to an end, I'm hoping we'll see a breakout before the day's over.
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  • #99,563
  • Nov 19, 2008 7:22am Nov 19, 2008 7:22am
Quoting i.shawish
IN THE LAST TIME IT RETRACE FROM 1.57X TO 1.65X MY ACCOUNT WAS LOOSING 3800$...BUT MY ACCOUNT MANAGEMENT DEPENDS ON EVERY THING OR NOTHING, I STILL IN MY POSITION UNTILL I SAW THE PROFIT I GET CANCELED THEN I DECIDE TO STOP OR SOMTHING ELSE...I GOT 5000$ PROFIT IN THE LAST MONTH SO I STILL HAVE 4400$!!!!
your MM of 0.4 lots for 10k is a little big but okay. you entered short in a good position. your stop loss should be above 1.526x... so dont worry you are still in the safe zone and dont forget dont trade anymore today before the meeting tonight 9pm to see which way it goes... if it went down its fine u can control ur position better, if it went up wait for 1.5146 or 1.52xx to short the hell out of it again and get both positions evened up

good luck
When life gives you lemons, make lemonade
  • #99,564
  • Nov 19, 2008 7:27am Nov 19, 2008 7:27am
Quoting Abuawad
Hey Guys, let's talk about Cable here ok
i agree, its been like newbie discussion thread this morning.... alot of unecessary junk!! stick to cable!!
Trading is 80% Emotional, 20% Technical
  • #99,565
  • Nov 19, 2008 7:27am Nov 19, 2008 7:27am
Interestingly the same channels can be plotted on the Dow and S&P. I guess we are all waiting for the big boom. I will unbiased and following it. No pre-conceived ideas as there is a 50:50 chance of a run in either direction now.

Quoting spintrader
There's several diminishing triangles coming to an end, I'm hoping we'll see a breakout before the day's over.
Ride the Bulls bearback!
  • #99,566
  • Nov 19, 2008 7:29am Nov 19, 2008 7:29am
Quoting micho
your MM of 0.4 lots for 10k is a little big but okay. you entered short in a good position. your stop loss should be above 1.526x... so dont worry you are still in the safe zone and dont forget dont trade anymore today before the meeting tonight 9pm to see which way it goes... if it went down its fine u can control ur position better, if it went up wait for 1.5146 or 1.52xx to short the hell out of it again and get both positions evened up

good luck
THANKS BRO...I HAVE BEEN POTTED A SELL ORDER AT 1.5200 SINCE MONDAY...LETS BEET THIS CABLE AND FORCE IT TO GO DOWN ....ITS LOOKS LIKE MICOWAVE NOT CABLE!!!
what you get in the wind goes through the storms
  • #99,567
  • Nov 19, 2008 7:29am Nov 19, 2008 7:29am
Quoting alcando
Interestingly the same channels can be plotted on the Dow and S&P. I guess we are all waiting for the big boom. I will unbiased and following it. No pre-conceived ideas as there is a 50:50 chance of a run in either direction now.
yeah, I'm hoping it will ultimately be to the downside, but I can handle either, so it's all good.
I guess the performance of the Dow and S&P will be the driving factor for the pound today.
  • #99,568
  • Nov 19, 2008 7:30am Nov 19, 2008 7:30am
Quoting i.shawish
IN THE LAST TIME IT RETRACE FROM 1.57X TO 1.65X MY ACCOUNT WAS LOOSING 3800$...BUT MY ACCOUNT MANAGEMENT DEPENDS ON EVERY THING OR NOTHING, I STILL IN MY POSITION UNTILL I SAW THE PROFIT I GET CANCELED THEN I DECIDE TO STOP OR SOMTHING ELSE...I GOT 5000$ PROFIT IN THE LAST MONTH SO I STILL HAVE 4400$!!!!
Thats great and Im glad it worked out for you that time. But we want to see you here in the future, it wont always work out that way, imagine if it retraced too far back and wiped your account out?

Just some thought for you im sure most of us here have been through similar situations in the past.

I myself didnt listen to money management advise I had to learn the hard way! But I did learn and now know better
  • #99,569
  • Nov 19, 2008 7:30am Nov 19, 2008 7:30am
Abuawad, I always value reading your analysis, what's your reading on where cable is headed?
  • #99,570
  • Nov 19, 2008 7:33am Nov 19, 2008 7:33am
how the news to read ?
Mobsie
  • #99,571
  • Nov 19, 2008 7:36am Nov 19, 2008 7:36am
Quoting spintrader
Abuawad, I always value reading your analysis, what's your reading on where cable is headed?
i didn't check for today and yesterday to many news and lots of task here in my office, so you can say i'm off for this week.
why to risk if you have no time
  • #99,572
  • Nov 19, 2008 7:41am Nov 19, 2008 7:41am
Quoting Abuawad
i didn't check for today and yesterday to many news and lots of task here in my office, so you can say i'm off for this week.
why to risk if you have no time
very wise!
  • #99,573
  • Nov 19, 2008 7:46am Nov 19, 2008 7:46am
I got stopped out 20 pips in profit on my short last night. The shampoo did not play out as expected... 4900 area was too strong..
I think we will see sideways action until fomc minutes later on...
may just scalp a few until then...
Patience + Discipline - Greed = Success
  • #99,574
  • Nov 19, 2008 7:50am Nov 19, 2008 7:50am
Quoting spintrader
very wise!
thanks,
and here is the chart for today and try to get the some profit using the horizontal lines, using the 1 H Chart
Attached Image (click to enlarge)
Click to Enlarge Name: today nots.gif Size: 49 KB
  • #99,575
  • Nov 19, 2008 7:51am Nov 19, 2008 7:51am
Quoting Infinity
I got stopped out 20 pips in profit on my short last night. The shampoo did not play out as expected... 4900 area was too strong..
I think we will see sideways action until fomc minutes later on...
may just scalp a few until then...
I got closed out for 14 pips. Next ride.
Just digging in the trenches like everyone else!
  • #99,576
  • Nov 19, 2008 7:54am Nov 19, 2008 7:54am
Quoting Infinity
I got stopped out 20 pips in profit on my short last night. The shampoo did not play out as expected... 4900 area was too strong..
I think we will see sideways action until fomc minutes later on...
may just scalp a few until then...
good job guys...thats the great think about ranges..profit in both directions
  • #99,577
  • Nov 19, 2008 7:56am Nov 19, 2008 7:56am
Quoting Infinity
I got stopped out 20 pips in profit on my short last night. The shampoo did not play out as expected... 4900 area was too strong..
I think we will see sideways action until fomc minutes later on...
may just scalp a few until then...
hey infinity!!

i agree with u, i should have closed my trade with +2x at the 3x after it failed to touch my target at 489x... but i was asleep and i let it go... then i had another signal at the same price, so i said okay leave the position and went to lunch... when i came back i saw it hit the 23% 3x again (should have set stop at BE after that) but no i was at lunch and it stormed up on my stop level 5013... and went up.. now its -7x lol but i dont care
When life gives you lemons, make lemonade
  • #99,578
  • Nov 19, 2008 8:01am Nov 19, 2008 8:01am
Quoting eohater
I got closed out for 14 pips. Next ride.
Wow, i can see 1.51xx and below 1.94xx. It a strong for short. Any comment? It need yr idea tu
GELORE
  • #99,579
  • Nov 19, 2008 8:03am Nov 19, 2008 8:03am
i see triple top, i also see the trend line is down at 1.51x. yesterday it was at 1.52x so thats a good thing
When life gives you lemons, make lemonade
  • #99,580
  • Nov 19, 2008 8:05am Nov 19, 2008 8:05am
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