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Cable Update (GBPUSD)

  • #102,361
  • Nov 28, 2008 4:43pm Nov 28, 2008 4:43pm
I think rate cut maybe priced in if only a half point. There is room for down on the way up on the ascending channel on the four our and may give us the break on the descending trend line on the daily. I have a dow news feed on my trading platform and there was some comments on some more dollar weakness against other currencies in the coming weeks and how the dollar tends to be a weak performer in December. Just some thoughts have a GREAT WEEKEND
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  • #102,362
  • Nov 28, 2008 4:50pm Nov 28, 2008 4:50pm
Quoting sblank
I think rate cut maybe priced in if only a half point. There is room for down on the way up on the ascending channel on the four our and may give us the break on the descending trend line on the daily. I have a dow news feed on my trading platform and there was some comments on some more dollar weakness against other currencies in the coming weeks and how the dollar tends to be a weak performer in December. Just some thoughts have a GREAT WEEKEND
thanks for your analisys. have great weekend too.
  • #102,363
  • Nov 28, 2008 5:03pm Nov 28, 2008 5:03pm
Quoting sblank
I think rate cut maybe priced in if only a half point. There is room for down on the way up on the ascending channel on the four our and may give us the break on the descending trend line on the daily. I have a dow news feed on my trading platform and there was some comments on some more dollar weakness against other currencies in the coming weeks and how the dollar tends to be a weak performer in December. Just some thoughts have a GREAT WEEKEND

in normal market condition dollar weaker in December and we get Santa Claus rallly as hedge funds window dress their portfolios.

This year hedge funds will be unloading the losers for capital losses on their taxes.... i think they push the market a little higher before doing so. There should be a market drop starting sometime next week. I will be keeping a close eye on the daily volumes of the DJ futures and looking for the 1st sign of weakness ( an up day with low volume)
Blogging daily now at www.volume.zone
  • #102,364
  • Nov 28, 2008 5:21pm Nov 28, 2008 5:21pm
Quoting malcolmb14
in normal market condition dollar weaker in December and we get Santa Claus rallly as hedge funds window dress their portfolios.

This year hedge funds will be unloading the losers for capital losses on their taxes.... i think they push the market a little higher before doing so. There should be a market drop starting sometime next week. I will be keeping a close eye on the daily volumes of the DJ futures and looking for the 1st sign of weakness ( an up day with low volume)
Thanks for the input!!! Definately looking for opinions!!! Still trying to get a handle on trading forex!!! Batting about 60-70% on .1 lots.
  • #102,365
  • Nov 28, 2008 7:43pm Nov 28, 2008 7:43pm
Quoting MoForce
G/U is ready for a hard fall next week

maybe it's not so bad that I've still got my -100 shorts still
No offense, but your trade is a bad trade. You sold the bottom, what in the world would make you think after she moved over 200 pips down that she was still going to fall more on the same day, same session? You should have dumped it and taken the loss. You might get out of this one, but what if she goes up to 5600 before falling? What if she never comes back down to allow you to get out? The key to trading is to realize when you've made a bad trade. It's nothing personal when you've made a bad trade, it's just trading.
Just digging in the trenches like everyone else!
  • #102,366
  • Nov 28, 2008 7:57pm Nov 28, 2008 7:57pm
Gap up????? lol predicting tsk tsk tsk
  • #102,367
  • Nov 28, 2008 8:56pm Nov 28, 2008 8:56pm
Quoting eohater
No offense, but your trade is a bad trade. You sold the bottom, what in the world would make you think after she moved over 200 pips down that she was still going to fall more on the same day, same session? You should have dumped it and taken the loss. You might get out of this one, but what if she goes up to 5600 before falling? What if she never comes back down to allow you to get out? The key to trading is to realize when you've made a bad trade. It's nothing personal when you've made a bad trade, it's just trading.

VERY GOOD ADVICE!!!........the sign of a seasoned trader!!!
  • #102,368
  • Nov 29, 2008 3:00am Nov 29, 2008 3:00am
Cable scalpers what is the tightest stop it can be used for scalping this pair ? Please reply from your own experience ...
  • #102,369
  • Nov 29, 2008 3:16am Nov 29, 2008 3:16am
I close my weekly GBP/USD with +300 pips ,,,


Sonic
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  • #102,370
  • Nov 29, 2008 3:38am Nov 29, 2008 3:38am
Quoting MoForce
G/U is ready for a hard fall next week

maybe it's not so bad that I've still got my -100 shorts still
Even if it will go up, i think it will make a low and you can try close it at break even.
  • #102,371
  • Nov 29, 2008 6:31am Nov 29, 2008 6:31am
Quoting vorschlag
Even if it will go up, i think it will make a low and you can try close it at break even.
I hope you get out of this one unscaved mate!
Probability Professor
  • #102,372
  • Nov 29, 2008 6:31am Nov 29, 2008 6:31am
Posible H&S in making
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  • #102,373
  • Nov 29, 2008 6:34am Nov 29, 2008 6:34am
Quoting mphpopular
Posible H&S in making
Interesting: very interesting.
Probability Professor
  • #102,374
  • Nov 29, 2008 7:26am Nov 29, 2008 7:26am
Thanks for the tips guys

I'll try to break even as fast as possible and the only reason why I left it flowing in the negative is because I've got some Longs which more than make up for the losing short. Otherwise I set tight S/Ls of about 25pips.
  • #102,375
  • Nov 29, 2008 7:48am Nov 29, 2008 7:48am
Quoting mphpopular
Posible H&S in making
The left shoulder on your chart, is higher than your head in mine!
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  • #102,376
  • Nov 29, 2008 7:50am Nov 29, 2008 7:50am
Quoting AmeriTrini
VERY GOOD ADVICE!!!........the sign of a seasoned trader!!!
yep main thing i see with EO is that brother really isnt attached to his trades..actually very mechanical in his approach to the whole thing..

good to see this quality and his success... proves the theory
  • #102,377
  • Nov 29, 2008 9:20am Nov 29, 2008 9:20am
seems like our price quote differ alot
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  • #102,378
  • Nov 29, 2008 11:56am Nov 29, 2008 11:56am
Quoting MoForce
Thanks for the tips guys

I'll try to break even as fast as possible and the only reason why I left it flowing in the negative is because I've got some Longs which more than make up for the losing short. Otherwise I set tight S/Ls of about 25pips.
I think you'll be ok to get out of this, my main point is that I wanted to point out that you sold the bottom. Earlier this week, another trader bought the top and she fell over 200 pips in 30min before coming back up to where he bought at. Allbeit you can get out at BE, it's still not a quality trade. Trade quality, not quantity and you'll see your profits soar.

Best of luck trading this upcoming week!
EO
Just digging in the trenches like everyone else!
  • #102,379
  • Nov 29, 2008 12:26pm Nov 29, 2008 12:26pm
Quoting mphpopular
seems like our price quote differ alot
I dunno, I only just started this MT4 and I don't seem to like it. Its prices are quite different from what my broker shows me. ( +/- 5pips at times)

But I am fairly certain that it went to 553+ first and then to 551+.

  • #102,380
  • Nov 29, 2008 1:31pm Nov 29, 2008 1:31pm
Quoting Vourvoul
I dunno, I only just started this MT4 and I don't seem to like it. Its prices are quite different from what my broker shows me. ( +/- 5pips at times)

But I am fairly certain that it went to 553+ first and then to 551+.

lets just call them double top
When life gives you lemons, make lemonade
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