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Cable Update (GBPUSD)

  • #110,241
  • Jan 8, 2009 9:02am Jan 8, 2009 9:02am
Im glad i wasnt about earlier to trade this cause what the hell is going on aparently we reduced interest by .5% and talk about printing money too and some how people want to buy £? weird. On my chart the body of 2 candles stayed just a fraction under the short term downtrend line so this is looking good for shorts
  • #110,242
  • Jan 8, 2009 9:03am Jan 8, 2009 9:03am
umm.. just got out of shower.. what caused this move.. or did selling just 'come in" I took a few off daily ichi cloud.. but not near this move.
DireXiv Make it happen, no one else is going to do it for you...
  • #110,243
  • Jan 8, 2009 9:03am Jan 8, 2009 9:03am
Done +50 on the reversal. My heart was pumping hard when my price 1.5300 reverse till 70. I took very early entry. But not putting an SL works well for me this time. The reason I put is simply because the price is badly overbought/high.
  • #110,244
  • Jan 8, 2009 9:05am Jan 8, 2009 9:05am
Quoting steelhead
Dont sell as the market is going down. wait for a retrace near the highs and then sell. To easy to get stopped out or take alot of heat if you sell now
Short from 5320.
  • #110,245
  • Jan 8, 2009 9:07am Jan 8, 2009 9:07am
just 've closed my half trade
  • #110,246
  • Jan 8, 2009 9:08am Jan 8, 2009 9:08am
Quoting Infinity
never chase the shit.... if you missed it... you missed it.... it is the easiest way to get burned...
aint that the truth.
  • #110,247
  • Jan 8, 2009 9:08am Jan 8, 2009 9:08am
Quoting trader2160
Short from 5320.
nice buddy!
just closed my short for +60
Keep It Simple Stupid
  • #110,248
  • Edited 9:13am Jan 8, 2009 9:12am | Edited 9:13am
i 've closed my short all

time to sleep
  • #110,249
  • Jan 8, 2009 9:15am Jan 8, 2009 9:15am
no the best m15 close there....
Patience + Discipline - Greed = Success
  • #110,250
  • Jan 8, 2009 9:17am Jan 8, 2009 9:17am
Quoting Infinity
no the best m15 close there....
No shit! I don't really like that candle. I've closed out half my position, 3 lots, for 100 pips. Nice shower to get paid $3k. I need to do that everyday! I'm moving my SL to +25 on the remaining lots. She could make another run to the top. I'll short her again if PA is right.
Just digging in the trenches like everyone else!
  • #110,251
  • Jan 8, 2009 9:21am Jan 8, 2009 9:21am
Quoting Infinity
no the best m15 close there....
Bounced right of the 50 Fib of today's upmove...

The 4H candle (Alpari feed) of the E/G pair indicates potential upmove of the pair though. This would mean further weakening of GBP.

Also the hourly candle on Fiber shows potential weakening of the Euro which also would imply weaker cable...
  • #110,252
  • Jan 8, 2009 9:24am Jan 8, 2009 9:24am
Quoting eohater
No shit! I don't really like that candle. I've closed out half my position, 3 lots, for 100 pips. Nice shower to get paid $3k. I need to do that everyday! I'm moving my SL to +25 on the remaining lots. She could make another run to the top. I'll short her again if PA is right.
I took some off at the m15 5ema and 10ema and also at 5200.. My tp for the remaining is the m15 50ema..
Patience + Discipline - Greed = Success
  • #110,253
  • Jan 8, 2009 9:27am Jan 8, 2009 9:27am
Sell sell sell....
She gonna drop like a bomb soon
  • #110,254
  • Jan 8, 2009 9:29am Jan 8, 2009 9:29am
Covered everything that time for 111 pips.was a bit heavy on the lots.Ugly PA
  • #110,255
  • Jan 8, 2009 9:30am Jan 8, 2009 9:30am
Quoting Infinity
I took some off at the m15 5ema and 10ema and also at 5200.. My tp for the remaining is the m15 50ema..
Same final TP as mine. Maybe a little ride up during US Lunch time, then back down for the rest of the day to give us a nice daily close candle for shorts back to the bottom. Just a thought. Of course, we'll trade what we see.
Just digging in the trenches like everyone else!
  • #110,256
  • Jan 8, 2009 9:31am Jan 8, 2009 9:31am
Quoting uut
ok its time to take her down
I've been adding shorts since 5350....

a bit agressive..but given these points...

  1. double top 1 hr
  2. rising like a demond for past week..
  3. news is forcasted as dissmal for USA
  4. time frame...it is nearing the profit taking time frame..10am....things wind down...
  5. profit taking is definitely high because of the weeks long rally
  6. 2nd 1HR down candle forming at the base of previous candle

locking profits on drops...next support...gotta breach...then hit my other short...

  • #110,257
  • Jan 8, 2009 9:32am Jan 8, 2009 9:32am
just woke up and got stopped out with my short

of course it will plunge in a couple of hours as the people who guessed right take their profit

broke 2 of my rules this week - don't trade when you are not feeling well for any reason and don't trade through the news

slap hands

think i will pin those 2 rules up on the wall

ok back to it - repair that battered account
  • #110,258
  • Jan 8, 2009 9:35am Jan 8, 2009 9:35am
Quoting allserene
just woke up and got stopped out with my short

of course it will plunge in a couple of hours as the people who guessed right take their profit

broke 2 of my rules this week - don't trade when you are not feeling well for any reason and don't trade through the news

slap hands

think i will pin those 2 rules up on the wall

ok back to it - repair that battered account
You've recognized what you did wrong and that's what's important. Your right, slap your hand, post your rule on the wall beside your computer and move on to repairing your account.

I did the same thing yesterday after my big loss, focused back to what I did wrong and discovered that I broke so many of my own rules that I should be in handcuffs and whipped for it.
Just digging in the trenches like everyone else!
  • #110,259
  • Jan 8, 2009 9:36am Jan 8, 2009 9:36am
I don't like how the hourly candle is forming for my shorts. I'll be keeping a close eye on it's close.
Just digging in the trenches like everyone else!
  • #110,260
  • Jan 8, 2009 9:38am Jan 8, 2009 9:38am
Quoting eohater
Same final TP as mine. Maybe a little ride up during US Lunch time, then back down for the rest of the day to give us a nice daily close candle for shorts back to the bottom. Just a thought. Of course, we'll trade what we see.
I just took some more off at 5220... I just have a small position remaining with stop at +60....
Patience + Discipline - Greed = Success
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