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Cable Update (GBPUSD)

  • #110,201
  • Jan 8, 2009 8:21am Jan 8, 2009 8:21am
I'm short at 5350 and going to go and take a shower. I hope everyone made good pips on the move up this morning. I was too late to take advantage of it.
Just digging in the trenches like everyone else!
  • #110,202
  • Jan 8, 2009 8:21am Jan 8, 2009 8:21am
Quoting Infinity
I could be wrong but I am now short from 5370....
stop at +2 now
Patience + Discipline - Greed = Success
  • #110,203
  • Jan 8, 2009 8:22am Jan 8, 2009 8:22am
Quoting eohater
I'm short at 5350 and going to go and take a shower. I hope everyone made good pips on the move up this morning. I was too late to take advantage of it.
Welcome aboard brother....
Patience + Discipline - Greed = Success
  • #110,204
  • Jan 8, 2009 8:22am Jan 8, 2009 8:22am
Quoting Infinity
I could be wrong but I am now short from 5370....
I missed it... this is the scenario we talked about yesterday! My feed was interrupted

Oh well....
  • #110,205
  • Jan 8, 2009 8:22am Jan 8, 2009 8:22am
Quoting Infinity
stop at +2 now
Nice entry brother! I waited for the last 15m candle to close to give me my signal. Your always one step ahead of me. Bravo!
Just digging in the trenches like everyone else!
  • #110,206
  • Jan 8, 2009 8:23am Jan 8, 2009 8:23am
Thats me out of here lads. A fine 300 pips on that move. Taking the afternoon off now. Have a Pip piping day.
Ride the Bulls bearback!
  • #110,207
  • Jan 8, 2009 8:23am Jan 8, 2009 8:23am
Quoting Infinity
Welcome aboard brother....
It's always nice when we ride together! Time to get paid again!!
Just digging in the trenches like everyone else!
  • #110,208
  • Jan 8, 2009 8:25am Jan 8, 2009 8:25am
Quoting Vourvoul
I missed it... this is the scenario we talked about yesterday! My feed was interrupted

Oh well....
Yes I remember.... It can still go up though that is why I covered my trade...
Patience + Discipline - Greed = Success
  • #110,209
  • Jan 8, 2009 8:26am Jan 8, 2009 8:26am
Quoting eohater
It's always nice when we ride together! Time to get paid again!!
Yeah bro!!! I took some off at the m15 5ema... the rest is at +2..
Patience + Discipline - Greed = Success
  • #110,210
  • Jan 8, 2009 8:27am Jan 8, 2009 8:27am
Quoting alcando
Thats me out of here lads. A fine 300 pips on that move. Taking the afternoon off now. Have a Pip piping day.
Nice
  • #110,211
  • Jan 8, 2009 8:28am Jan 8, 2009 8:28am
Quoting Infinity
Yeah bro!!! I took some off at the m15 5ema... the rest is at +2..
Hopefully it will retest the TL...
  • #110,212
  • Jan 8, 2009 8:28am Jan 8, 2009 8:28am
Quoting eohater
It's always nice when we ride together! Time to get paid again!!
Im not short yet but Good luck
  • #110,213
  • Jan 8, 2009 8:29am Jan 8, 2009 8:29am
Quoting fry2010
If it breaks 1.5400 my target wud b 1.6000. After that if break this too 1.7000 where i wud put a short.

if it break 5721 on 12.17.2008 and goes above 5800; then i might think the trend has changed (and even then i would be looking for a retracement... and buy on a dip)... until then, i am selling on rallies.

reasons i am looking to short:
1) cable weekly range is almost 1000 pips and it is 5% from the high
2) stoch(5,3,3) on the daily is 86
3) this is the 4th large up day
4) UK just cut interest rates
5) fib retrace from last high is over 618

also Obama is coming jan 20th... everyone thinks he is going to save the world...that will give the dollar strength thru febuary when people realized that the US problems are long term and a new leader cant solved them in a few weeks.

i do believe the cable will go up this year; but not now - unless you are day trading i wouldnt want to go long now

btw: i am not a professional trader - just have a micro account so please dont use my suggestion without talking to others first :-)

also i thought today was going to tank; and i was wrong... still think i got the direction right, but too soon (thankfully i closed all my shorts yesterday).
  • #110,214
  • Jan 8, 2009 8:31am Jan 8, 2009 8:31am
Quoting Infinity
I could be wrong but I am now short from 5370....
hey bro have exact same wedge on my daily chart too!!

good stuff, test of that lower line would be great!
Trading is 80% Emotional, 20% Technical
  • #110,215
  • Jan 8, 2009 8:31am Jan 8, 2009 8:31am
What i would really like to know is how many of you went immediately long as the news was released...and especially why...because even if it was a forecast cut, it is still a cut and that shouldn't be good for a currency...
  • #110,216
  • Jan 8, 2009 8:32am Jan 8, 2009 8:32am
Quoting nAVIN2007
i think that only good advise if u know what yur doing..in generally i think adding to a position yur wrong about isnt good..but if it taken into account b4 hand, like u have obviously..then its good stuff

the difference is purely the mind set u have..realising that u could be wrong, makes all the difference...

yes dont do this if you are scalping! have to look at the D1, H4, H1 - try to get the highs and lows for the day and week
  • #110,217
  • Jan 8, 2009 8:33am Jan 8, 2009 8:33am
Quoting fx local
hey bro have exact same wedge on my daily chart too!!

good stuff, test of that lower line would be great!
Let's see if it plays out....
Patience + Discipline - Greed = Success
  • #110,218
  • Edited 8:34am Jan 8, 2009 8:33am | Edited 8:34am
Quoting trader2160
dude the devil reversal bit was from dec.A joke.
i know
Unemployment Claims
http://www.forexfactory.com/images/m...etail_down.gif 467K
545K?

sell at 1.5336
sell?
  • #110,219
  • Jan 8, 2009 8:36am Jan 8, 2009 8:36am
Quoting mpurdy1973
good for you.... i am waiting till the close of the 10am est H4 for my next entry... want to give the cable time to get tired
its excellent for me.
  • #110,220
  • Jan 8, 2009 8:37am Jan 8, 2009 8:37am
Quoting eohater
It's always nice when we ride together! Time to get paid again!!
Well i never miss a train anymore. 4 entry buy on deep with +1090pips.
GELORE
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