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Cable Update (GBPUSD)

  • #105,101
  • Dec 8, 2008 4:10am Dec 8, 2008 4:10am
Quoting manize
I am thinking to move SL at 1.4980, but wait a while the price action at new candle M15 !
Yes , I am safe now !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #105,102
  • Dec 8, 2008 4:10am Dec 8, 2008 4:10am
No worries, It's not such a bad trade tho but I would not want to enter this late. My short is currently sitting on 100pips and my smile is now touching my ears and making my face tingle. Why do they make it so easy to make money in this game sometimes...


Quoting Shermenator
I rather miss a good trade then be in a bad one...will wait for more information from the market
Ride the Bulls bearback!
  • #105,103
  • Dec 8, 2008 4:12am Dec 8, 2008 4:12am
We bounced on the 23 Fib of the of the 4H move at 149020 so it could be back up or down thru it from here.
Ride the Bulls bearback!
  • #105,104
  • Dec 8, 2008 4:13am Dec 8, 2008 4:13am
Quoting alcando
No worries, It's not such a bad trade tho but I would not want to enter this late. My short is currently sitting on 100pips and my smile is now touching my ears and making my face tingle. Why do they make it so easy to make money in this game sometimes...

Yep agree if you used a limit order then your sitting in top of the cash.....good stuff man....I simply did not like the fact the market gave me long wicks on the 1 hour chart and that does not fit my style of trading ...so I will wait for a setup from the 4 hour chart most likely...nice trading men....I cought the long but dont feel good enough to trade short yet...maybe in an hour such....will most likely pull the trigger from the 4 ...
  • #105,105
  • Dec 8, 2008 4:16am Dec 8, 2008 4:16am
How can you tell if its a retraction or a reversal?
  • #105,106
  • Dec 8, 2008 4:17am Dec 8, 2008 4:17am
What do you think the fundamental of GBP/USD ?

Probability of Up Trend is higher or Down Trend is higher ? (Short to mid Term)
  • #105,107
  • Dec 8, 2008 4:17am Dec 8, 2008 4:17am
The one thing about cable lately is that you need to be quick to enter on the shorts at high resistance areas and take your time with the longs as the H1 candle have flat bottoms and tall top wicks. A bit like my mother-in-law, she has a big bottom and short fuse...

Quoting Shermenator
Yep agree if you used a limit order then your sitting in top of the cash.....good stuff man....I simply did not like the fact the market gave me long wicks on the 1 hour chart and that does not fit my style of trading ...so I will wait for a setup from the 4 hour chart most likely...nice trading men....
Ride the Bulls bearback!
  • #105,108
  • Dec 8, 2008 4:18am Dec 8, 2008 4:18am
Quoting alcando
We bounced on the 23 Fib of the of the 4H move at 149020 so it could be back up or down thru it from here.
You mean 1.4920 ?
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #105,109
  • Dec 8, 2008 4:21am Dec 8, 2008 4:21am
Quoting alcando
The one thing about cable lately is that you need to be quick to enter on the shorts at high resistance areas and take your time with the longs as the H1 candle have flat bottoms and tall top wicks. A bit like my mother-in-law, she has a big bottom and short fuse...

Yep thats great man...I have a bitt of a different syle of trading ...but what matters is that we make pips ....great trade once again...
  • #105,110
  • Dec 8, 2008 4:23am Dec 8, 2008 4:23am
Quoting monster
How can you tell if its a retraction or a reversal?

you cant....you simply try and ride the waves as they perform...I never have a bias when I trade...I simply navigate price as it changes...if price goes up I go up and vice versa lol...I dont care if its reversing or not...
  • #105,111
  • Dec 8, 2008 4:26am Dec 8, 2008 4:26am
Quoting Shermenator
you cant....you simply try and ride the waves as they perform...I never have a bias when I trade...I simply navigate price as it changes...if price goes up I go up and vice versa lol...I dont care if its reversing or not...
cool


(on a side note: we should get a chat room instead of refreshing all the time)
  • #105,112
  • Dec 8, 2008 4:28am Dec 8, 2008 4:28am
Fundamentally I think there is a renewed risk appetite making cable more attractive as the equities markets have been rallying up this morning by 5-6%. They are a little more unstable now tho leading to a lot of traders taking profits from longs and no longer taking profits from longer TF shorts. It would not surprise me too much if we do not return to today's beginning point 14730 which would be a retrace of 61% of the 4H move leading to a slower recovery of cable. I don't think it will but I will be happy to profit from it.

More likely tho I think we are in for a bit of ranging till the USA wakes up and raises the flag to send the other currency pairs into retreat. As EO says, trade what you see... I am only expressing an opinion...

Quoting siewhf
What do you think the fundamental of GBP/USD ?

Probability of Up Trend is higher or Down Trend is higher ? (Short to mid Term)
Ride the Bulls bearback!
  • #105,113
  • Dec 8, 2008 4:29am Dec 8, 2008 4:29am
Yebo. Sorry.

Quoting manize
You mean 1.4920 ?
Ride the Bulls bearback!
  • #105,114
  • Dec 8, 2008 4:39am Dec 8, 2008 4:39am
Quoting alcando
Fundamentally I think there is a renewed risk appetite making cable more attractive as the equities markets have been rallying up this morning by 5-6%. They are a little more unstable now tho leading to a lot of traders taking profits from longs and no longer taking profits from longer TF shorts. It would not surprise me too much if we do not return to today's beginning point 14730 which would be a retrace of 61% of the 4H move leading to a slower recovery of cable. I don't think it will but I will be happy to profit from it.

More likely tho I...
I have profit targets of 14820 and 14730.
14730 is very attainable I think. Just above the central pivot and 618 ret as you say.
NY usually reverses London direction, so hopefully this will add some push to the move.
If it's too good to be true, it probably is.
  • #105,115
  • Dec 8, 2008 4:41am Dec 8, 2008 4:41am
Hi, folks!..
It looks I missed a great party at 4am - have to wake up early. So what's naow? Up or down?
  • #105,116
  • Dec 8, 2008 4:43am Dec 8, 2008 4:43am
Quoting Komissar
Hi, folks!..
It looks I missed a great party at 4am - have to wake up early. So what's naow? Up or down?

lol


down I think
  • #105,117
  • Dec 8, 2008 4:50am Dec 8, 2008 4:50am
Quoting alcando
Yebo. Sorry.
Zulu, correct?
Just my 2 cents worth
  • #105,118
  • Dec 8, 2008 4:51am Dec 8, 2008 4:51am
Just as an aside. I am looking to get a group of Forex traders together for a networking meeting to share idea's and tips and just generally chat and see whether it could provide some mutual benefit to one another. No cost or profit incentives or intentions, just purely a social and an opportunity to share.

If any of you guys is local to or near to London,UK and would be interested in meeting some of the guys, send me a PM and I will keep you posted on dates, etc.
Ride the Bulls bearback!
  • #105,119
  • Dec 8, 2008 4:55am Dec 8, 2008 4:55am
Quoting alcando
Just as an aside. I am looking to get a group of Forex traders together for a networking meeting to share idea's and tips and just generally chat and see whether it could provide some mutual benefit to one another. No cost or profit incentives or intentions, just purely a social and an opportunity to share.

If any of you guys is local to or near to London,UK and would be interested in meeting some of the guys, send me a PM and I will keep you posted on dates, etc.
I wish!!!! I'm in canada though.....ps. its minus 22 outside
  • #105,120
  • Dec 8, 2008 5:02am Dec 8, 2008 5:02am
Quoting alcando
Just as an aside. I am looking to get a group of Forex traders together for a networking meeting to share idea's and tips and just generally chat and see whether it could provide some mutual benefit to one another. No cost or profit incentives or intentions, just purely a social and an opportunity to share.

If any of you guys is local to or near to London,UK and would be interested in meeting some of the guys, send me a PM and I will keep you posted on dates, etc.
cool idea sir, just sent you a message.

Matthew
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