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Cable Update (GBPUSD)

  • #107,421
  • Dec 17, 2008 2:26am Dec 17, 2008 2:26am
Quoting manize
Retest support level 1.5545 !
looking bullish with the way it retest..bullish engulfin candle in 5M TF...

Sonic
  • #107,422
  • Dec 17, 2008 2:36am Dec 17, 2008 2:36am
Quoting sonicdeejay
looking bullish with the way it retest..bullish engulfin candle in 5M TF...

Sonic
Urgh .... I did'nt see 5m candle ... Wait a bit dip for long ! Thanks bro !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #107,423
  • Dec 17, 2008 2:37am Dec 17, 2008 2:37am
Good post. Everyone trades a different style. I trade from S&R levels but never use a stop greater than 40pips and rather correct my entries after accepting I was wrong. But thats me.


Quoting mpurdy1973
true... no one should trade of of other peoples calls...

i trade with large stops because i use very small lots:
i trade with 0.1 lots instead of 1.0 lots... so a 400 pip stop is equal to a 40 pip stop by $ loss

the reason i am doing this is because there are 3 things you have to do to be a good trader:

1) get the right direction
2) get the right entry
3) good money management

most people can get #1 correct; the problem comes with #2 and #3... if you use lower lots... your time maybe off, however you can double up at -100, and double...
Ride the Bulls bearback!
  • #107,424
  • Dec 17, 2008 2:40am Dec 17, 2008 2:40am
Quoting alcando
Good post. Everyone trades a different style. I trade from S&R levels but never use a stop greater than 40pips and rather correct my entries after accepting I was wrong. But thats me.

yep...I have big stops at times...like the gbpusd my stop is about 146 pips so that why I can take some retracement against me and as well as my risk is adjusted to the stop size...
  • #107,425
  • Dec 17, 2008 2:41am Dec 17, 2008 2:41am
1.5550 is a good entry for long
  • #107,426
  • Dec 17, 2008 2:42am Dec 17, 2008 2:42am
Quoting hanizad
gbp/usd never fall in december since euro was launched.so i long gbp/usd from 1.4500 until end of december .euro/usd have a tendancy to fall in january so i will short euro/usd early january 2009 because there are some trader trade base on calender only.
So you were long since the beginning of the month @ 5368?
  • #107,427
  • Dec 17, 2008 2:48am Dec 17, 2008 2:48am
Quoting gagakrimba
1.5550 is a good entry for long
I still have 2 hours waiting for again that level 1.5545/50. When ever time due I might be long on what ever level !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #107,428
  • Dec 17, 2008 2:48am Dec 17, 2008 2:48am
GBP/USD Daily Outlook GBPUSD Outlook | Written by ActionForex.com | Dec 17 08 07:38 GMT | GBP/USD's break of 1.5534 resistance confirms that a short term bottom is at least formed at 1.4466 with bullish convergence condition in 4 hours MACD. Further rebound is now expected as long as 1.5204 minor support holds, targeting 1.6671 medium term resistance but upside will likely be limited there as consolidation from 1.4466 goes. On the downside, below 1.5204 will flip intraday bias back to the downside for retesting 1.4466 low.
Probability Professor
  • #107,429
  • Dec 17, 2008 2:53am Dec 17, 2008 2:53am
what, daily candle bearish now...

huah, i don't want it!
  • #107,430
  • Dec 17, 2008 3:00am Dec 17, 2008 3:00am
Probably why the stall here also
  • #107,431
  • Dec 17, 2008 3:09am Dec 17, 2008 3:09am
Quoting Fly2
Probably why the stall here also
i'm a little bit screwed here because i went long at 4150 and the news is coming in 20mins. i'm down 30 pips.
anyone expecting good news here? anyone knows market sentiment right now?
  • #107,432
  • Dec 17, 2008 3:11am Dec 17, 2008 3:11am
Quoting hitman047
i'm a little bit screwed here because i went long at 4150 and the news is coming in 20mins. i'm down 30 pips.
anyone expecting good news here? anyone knows market sentiment right now?
if you were long at 4150, you're in good shape =p lol you must be talking about euro?
  • #107,433
  • Dec 17, 2008 3:13am Dec 17, 2008 3:13am
Quoting Liquid
if you were long at 4150, you're in good shape =p lol you must be talking about euro?
lol yes, the euro.
Not in good shape, i guess ;(
  • #107,434
  • Dec 17, 2008 3:21am Dec 17, 2008 3:21am
Quoting biax
what, daily candle bearish now...

huah, i don't want it!
Not only daily, 1h, 4h, daily are all bearish, an alert that don't be against the trend follow the trend and make pips
Give me patience
  • #107,435
  • Dec 17, 2008 3:31am Dec 17, 2008 3:31am
I have now closed 90 percent of my short

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 22 KB
  • #107,436
  • Dec 17, 2008 3:33am Dec 17, 2008 3:33am
Quoting Shermenator
I have now closed 90 percent of my short

Attachment
Nice trade.
  • #107,437
  • Dec 17, 2008 3:41am Dec 17, 2008 3:41am
Quoting Shermenator
I have now closed 90 percent of my short

Attachment

me too... took the two positive shorts... still have one negative one... try to enter in again if the cable move up
  • #107,438
  • Dec 17, 2008 3:43am Dec 17, 2008 3:43am
Quoting Bullfx
Not only daily, 1h, 4h, daily are all bearish, an alert that don't be against the trend follow the trend and make pips

too many sleep for me.. i'm in wrong section if now open to short , just waiting what her do hehehe...
  • #107,439
  • Dec 17, 2008 3:48am Dec 17, 2008 3:48am
Quoting alcando
That is a terrible level for a sell. I will buy at 15560 and wipe you back up for ages. keep it below that or sell at resistance at the high above here. Please, nobody place that sell stop.
1.5560 - 40pip stop = 1.5520
current price = 1.5509

=(
don't be an e-thug and talk crap (wipe you back up for ages)
  • #107,440
  • Dec 17, 2008 3:57am Dec 17, 2008 3:57am


Don't be so sensitive. I took a total of over 80 on the longs from that level and then had a very successful short from a higher level. It's not a personal criticism, just a warning to newer traders..

And what is an e-thug?

Quoting Liquid
1.5560 - 40pip stop = 1.5520
current price = 1.5509

=(
don't be an e-thug and talk crap (wipe you back up for ages)
Ride the Bulls bearback!
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