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Cable Update (GBPUSD)

  • #102,541
  • Dec 1, 2008 5:12am Dec 1, 2008 5:12am
Dude, you don't need the 200 pip stop loss to trade this. Your entries are normally good enough for a 30-40pip SL.

This has been a sweet move. I stupidly played a long earlier and missed some of the run as well as erasing a 30pip stop. Still cleared a decent wage on it tho.

Would be nice to see a retrace now for some fresh US moves...

Quoting micho
pity i called sell at 1.5370 all week long last week but i cant play the dailies in my account with a 200 pips stop loss... we're likely going to 1.473x before going back to 1.56
Ride the Bulls bearback!
  • #102,542
  • Dec 1, 2008 5:15am Dec 1, 2008 5:15am
short again... 1.5052
  • #102,543
  • Dec 1, 2008 5:15am Dec 1, 2008 5:15am
im waiting for bullsih signal too, but at h4 the divergence seems needs more down b4 goin up..
  • #102,544
  • Dec 1, 2008 5:16am Dec 1, 2008 5:16am
Quoting alcando
Dude, you don't need the 200 pip stop loss to trade this. Your entries are normally good enough for a 30-40pip SL.

This has been a sweet move. I stupidly played a long earlier and missed some of the run as well as erasing a 30pip stop. Still cleared a decent wage on it tho.

Would be nice to see a retrace now for some fresh US moves...
ah no, i'd like to play it like the book
When life gives you lemons, make lemonade
  • #102,545
  • Dec 1, 2008 5:17am Dec 1, 2008 5:17am
I went long 1.5040, but closed quickly +10 pips !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #102,546
  • Dec 1, 2008 5:18am Dec 1, 2008 5:18am
Thx guys
I caught a ride on that GBO short too - nice...

Your thoughts on the USD PMI later ?
Possible retrace with weak numbers ?
I m pretty sure the numbers are going to be weaker than expected, looking to go long GBP USD i mean it lost 318 pips today do you think its due to rebound ?

Thx
Alex
  • #102,547
  • Dec 1, 2008 5:28am Dec 1, 2008 5:28am
Quoting micho
not really, the reaction to all this still to come
i sure hope yur right...well it certainly now loos like it wants to fall ....i should have taken that short like u said id regret not doing ionce we go lower..

man was u right
  • #102,548
  • Dec 1, 2008 5:36am Dec 1, 2008 5:36am
I am not convinced that this is a pure reactionary move to the PMI data. I heard that one of the UK banks was selling a massive GBP position. If you look at the GBPJPY there is a massive move which has also not retraced yet either. It's a 50% gamble from here although we go have the 23FIB from the 25 Sept fall at this level (15056) so it is a level of interest. I am of the opinion that we may just find a range till the US kick off as it seems the big banks sell-off looks done for now.

I'll bank the pips until the action begins later.

Quoting privatansasa
Thx guys
I caught a ride on that GBO short too - nice...

Your thoughts on the USD PMI later ?
Possible retrace with weak numbers ?
I m pretty sure the numbers are going to be weaker than expected, looking to go long GBP USD i mean it lost 318 pips today do you think its due to rebound ?

Thx
Alex
Ride the Bulls bearback!
  • #102,549
  • Dec 1, 2008 5:39am Dec 1, 2008 5:39am
Quoting nAVIN2007
i sure hope yur right...well it certainly now loos like it wants to fall ....i should have taken that short like u said id regret not doing ionce we go lower..

man was u right
yeah man your account really allows you to play dailies!!! you can have these trades!! even if you have 250 pips stop loss, you have 750 pips profit so good reward ratio!! by now you could have set it to break even at least or leave it a little to fall before setting to BE but its ok you catch next train in the 4h 1h and the other charts
When life gives you lemons, make lemonade
  • #102,550
  • Dec 1, 2008 5:39am Dec 1, 2008 5:39am
Quoting manize
I went long 1.5040, but closed quickly +10 pips !
now thats gambling
When life gives you lemons, make lemonade
  • #102,551
  • Dec 1, 2008 5:40am Dec 1, 2008 5:40am
Quoting uafx
short again... 1.5052
bullish divergence picking up on the 1 minute chart... was supposed to be a good trade but took too much time to fall to 1.5015.. so better close it or stop loss at 65
When life gives you lemons, make lemonade
  • #102,552
  • Dec 1, 2008 5:42am Dec 1, 2008 5:42am
Quoting micho
yeah man your account really allows you to play dailies!!! you can have these trades!! even if you have 250 pips stop loss, you have 750 pips profit so good reward ratio!! by now you could have set it to break even at least or leave it a little to fall before setting to BE but its ok you catch next train in the 4h 1h and the other charts
yes yur 100% correct, actually that was exactly the reason why i got this account..only problem i have is i can have a 250 stop loss but i cant say in my trades that long.....thou im getting better..


also right now markets are trending like a bitch! .makes me even more nervous
  • #102,553
  • Dec 1, 2008 5:45am Dec 1, 2008 5:45am
Quoting nAVIN2007
yes yur 100% correct, actually that was exactly the reason why i got this account..only problem i have is i can have a 250 stop loss but i cant say in my trades that long.....thou im getting better..


also right now markets are trending like a bitch! .makes me even more nervous
no pain no gain
When life gives you lemons, make lemonade
  • #102,554
  • Dec 1, 2008 5:45am Dec 1, 2008 5:45am
Quoting micho
now thats gambling
Just test my sytem .. a clue on M1 at the bottom for long. And it is ok for + 10 pips ! And now the clue is short. Who dares short at the bottom ?
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #102,555
  • Dec 1, 2008 5:48am Dec 1, 2008 5:48am
Hey guys, hope you all had a great weekend. Certainly looks like GU will break 1.500 today. I missed the major moves on cable as well so was a bit gutted, although pleased im still riding usd/jpy. Hopefully we will get a nice retrace ready for some more shorts, im not keeping my hopes up though, reckon we will break 1500 before a retrace happens.
  • #102,556
  • Dec 1, 2008 5:50am Dec 1, 2008 5:50am
still holding my short going to let this play through.
  • #102,557
  • Dec 1, 2008 5:52am Dec 1, 2008 5:52am
Quoting micho
bullish divergence picking up on the 1 minute chart... was supposed to be a good trade but took too much time to fall to 1.5015.. so better close it or stop loss at 65
will see... it looks better now... but made my SL tighter, thanks to you...:-)

I see nothing else but indecision now...
  • #102,558
  • Dec 1, 2008 5:58am Dec 1, 2008 5:58am
Quoting uafx
will see... it looks better now... but made my SL tighter, thanks to you...:-)

I see nothing else but indecision now...
but hey at your own risk
When life gives you lemons, make lemonade
  • #102,559
  • Dec 1, 2008 5:59am Dec 1, 2008 5:59am
Hi All...good Shorting Noon...i Am Seeing That Gu Waiting For The Us News To Move...nice Trade For All.. I Am Thinking To Go Long,are You Recomend Me??
what you get in the wind goes through the storms
  • #102,560
  • Dec 1, 2008 6:01am Dec 1, 2008 6:01am
Quoting uafx
will see... it looks better now... but made my SL tighter, thanks to you...:-)

I see nothing else but indecision now...
yo if u have ur stop loss at 65, reasonable target 1.5016... and set it to break even when it goes 23... otherwise you get -13
When life gives you lemons, make lemonade
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