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Cable Update (GBPUSD)

  • #104,681
  • Dec 5, 2008 7:44am Dec 5, 2008 7:44am
Quoting Zuke
Im in..Long @4635, SL 4575, First TP 4735, scale out therafter

You gotta laugh!! worse report ever and the dollar rallies!!
  • #104,682
  • Dec 5, 2008 7:47am Dec 5, 2008 7:47am
i've been short all day and missed the biggest and sharpest move.
oh well, will just have to wait for next one
PIPPED TO THE LINE
  • #104,683
  • Dec 5, 2008 7:51am Dec 5, 2008 7:51am
is there anything to stop it from reaching 14470?
PIPPED TO THE LINE
  • #104,684
  • Dec 5, 2008 7:52am Dec 5, 2008 7:52am
So, any forecast for a long, or we'll go short again?
  • #104,685
  • Dec 5, 2008 7:53am Dec 5, 2008 7:53am
Quoting alcando
Cheers, Interesting articlae and seems to be a bit of common thinking on that about. I am suspecting an offload at this level but we can only wait and see... No point in get our shorts in a knot...

Alcando, just want to say THANKS!! you give "sterling" advice and I have certainly benefited from it this week.....
I have kept my pips for the week!!
Cheers mate...and thanks to all on this forum...u guys are brilliant...
Signing off now....have a great weekend.....
  • #104,686
  • Dec 5, 2008 7:53am Dec 5, 2008 7:53am
Quoting Zuke
You gotta laugh!! worse report ever and the dollar rallies!!
totally agree...'someone is 'avin a larf'....
  • #104,687
  • Dec 5, 2008 7:55am Dec 5, 2008 7:55am
Quoting trickytrader
is there anything to stop it from reaching 14470?

yes, -1.4550+ the modified schiff median line.
~*~You are only one trade away from humility~*~
  • #104,688
  • Dec 5, 2008 7:55am Dec 5, 2008 7:55am
Quoting Beeps
totally agree...'someone is 'avin a larf'....
gotta say it; risk aversion.
It's what has been driving the dollar rally for months now, this is nothing new or unexpected.
  • #104,689
  • Dec 5, 2008 7:55am Dec 5, 2008 7:55am
small short placed 14570 tp 14470 sl 14625.01
PIPPED TO THE LINE
  • #104,690
  • Dec 5, 2008 7:55am Dec 5, 2008 7:55am
Quoting Komissar
So, any forecast for a long, or we'll go short again?
Gallantly i entered long @ 1.4535.
I hope i dont regret this
  • #104,691
  • Dec 5, 2008 7:57am Dec 5, 2008 7:57am
Quoting spintrader
gotta say it; risk aversion.
It's what has been driving the dollar rally for months now, this is nothing new or unexpected.

exactly. it should be of no real surprise.
  • #104,692
  • Dec 5, 2008 8:04am Dec 5, 2008 8:04am
Quoting gagakrimba
Gallantly i entered long @ 1.4535.
I hope i dont regret this
Closed @ 1.4600.
I better stay sideline for the time being.
This is crazy
  • #104,693
  • Dec 5, 2008 8:07am Dec 5, 2008 8:07am
be careful, POTENTIAL bullish Gartley 222
~*~You are only one trade away from humility~*~
  • #104,694
  • Dec 5, 2008 8:09am Dec 5, 2008 8:09am
Quoting gammase1
exactly. it should be of no real surprise.
ouch...ouch... take pity on a poor boy from the stix, got smartly slapped on the reversal of the long, just about made it back on the short, now i'm wet & confused, which way Tonto...?
  • #104,695
  • Dec 5, 2008 8:13am Dec 5, 2008 8:13am
Quoting jharteam
be careful, POTENTIAL bullish Gartley 222
Potential bearish too bro.
The market is crazy at the moment
  • #104,696
  • Dec 5, 2008 8:13am Dec 5, 2008 8:13am
being silly now, moved SL out to 50.
PIPPED TO THE LINE
  • #104,697
  • Dec 5, 2008 8:14am Dec 5, 2008 8:14am
i really dont see any patterns. it seems to be more random than moving in patterns
  • #104,698
  • Dec 5, 2008 8:15am Dec 5, 2008 8:15am
Quoting Beeps
which way Tonto...?
personally, i would say long, judging by the so-far relatively mute post-NFP reaction from the equity markets. although i would first like to see a test of 1.45. i am going to wait for an hour after Wall Street opens and look at the charts afresh, as well as the S&P level. by this time the tone for the day should be set.
  • #104,699
  • Dec 5, 2008 8:17am Dec 5, 2008 8:17am
Thanks Dude, Just passing on what the boff's and school of hard knocks pass me.

I am currently long from 14560 after taking a risky 150+ off the short. As Steelhead points out, look at the 1H charts and see where we currently are and it is obvious that even though we could go down from here, the number of traders looking to offload their trades at this level is likely to be higher than the number looking to open new shorts at the bottom of the channel.

As a patient trader it is more profitable from here to wait for the bottom and pounce on the reversal to the top of the channel-ish than it is to sit here and wait to short... You may be left alone as the tide washes out. But saying that, we may be here for some time.

Quoting bakula
Alcando, just want to say THANKS!! you give "sterling" advice and I have certainly benefited from it this week.....
I have kept my pips for the week!!
Cheers mate...and thanks to all on this forum...u guys are brilliant...
Signing off now....have a great weekend.....
Ride the Bulls bearback!
  • #104,700
  • Dec 5, 2008 8:18am Dec 5, 2008 8:18am
I was reading your posts, guys, for this week. And I observed the market behavior. Just curious - any predictions work these days?
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