When life gives you lemons, make lemonade
Cable Update (GBPUSD)
- #105,061
- Dec 8, 2008 2:47am Dec 8, 2008 2:47am
- Joined Mar 2008 | Status: Fooled by randomness | 8,361 Posts
- #105,062
- Dec 8, 2008 2:49am Dec 8, 2008 2:49am
- | Joined Dec 2007 | Status: Trader | 3,220 Posts
well i wont short... so beware
I only trade XAU/USD. Based on USD news & Fib SR & BB20
- #105,063
- Dec 8, 2008 2:49am Dec 8, 2008 2:49am
That was a great long which I have now closed at 15000 for 245pips. Nice start to the week.
I have gone short from 15004 targeting the 14900 area. We have a 200sma on the H1 in this area at approx 15009 on mine as well as a strong resistance and the confluence of 2 significant fibs at the 15055 mark. In my opinion the buyers will shy away from this area and we should see some retracement now to a more reasonable buying area. Add the fundamental fact that we have a bit of UK news due out in 30 min.
I have gone short from 15004 targeting the 14900 area. We have a 200sma on the H1 in this area at approx 15009 on mine as well as a strong resistance and the confluence of 2 significant fibs at the 15055 mark. In my opinion the buyers will shy away from this area and we should see some retracement now to a more reasonable buying area. Add the fundamental fact that we have a bit of UK news due out in 30 min.
It is a 300++ pips reversal from the low.
It's due for this baby to move southwards
Ride the Bulls bearback!
- #105,067
- Dec 8, 2008 2:53am Dec 8, 2008 2:53am
- | Joined Dec 2007 | Status: Trader | 3,220 Posts
Alright guys goodnight./...this 1 hour candle low brakes and some short will come in to revist the 4900 at least...I have made my pips long so I will call it a night....good trading and hope to see you guys tomorrow...
I only trade XAU/USD. Based on USD news & Fib SR & BB20
- #105,069
- Dec 8, 2008 2:54am Dec 8, 2008 2:54am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Have a good rest time, thank so much for share friend !
- #105,071
- Dec 8, 2008 3:06am Dec 8, 2008 3:06am
- | Membership Revoked | Joined Aug 2008 | 1,097 Posts
Tumbling like what ?
- #105,072
- Dec 8, 2008 3:06am Dec 8, 2008 3:06am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Yep dont short yet the market has not shifted gears like I said yet....wait for the market to stop trading higher at least in the 1 hour chart...
- #105,077
- Dec 8, 2008 3:12am Dec 8, 2008 3:12am
- Joined Mar 2008 | Status: Fooled by randomness | 8,361 Posts
When life gives you lemons, make lemonade
- #105,079
- Dec 8, 2008 3:14am Dec 8, 2008 3:14am
yep your short is good...just a bitt early the market is yet to shift gears.....
Lets hope the UK news is really bad
If it's too good to be true, it probably is.
- #105,080
- Dec 8, 2008 3:18am Dec 8, 2008 3:18am
- Joined Mar 2008 | Status: Fooled by randomness | 8,361 Posts
I agree Shermenator, I could have waited for some better price action to follow.
Lets hope the UK news is really bad
When life gives you lemons, make lemonade