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Cable Update (GBPUSD)

  • #110,441
  • Jan 9, 2009 5:29am Jan 9, 2009 5:29am
Quoting PipLand
morning everyone just went short from 5264 as a retracement fib seems to have held target 5130
morning buddy.
  • #110,442
  • Jan 9, 2009 5:30am Jan 9, 2009 5:30am
we should get a chance to sell from 5300 to 5250

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 15 KB
  • #110,443
  • Jan 9, 2009 5:34am Jan 9, 2009 5:34am
Quoting Shermenator
we should get a chance to sell from 5300 to 5250

Attachment
yes.Also better to wait a bit till employment data.
  • #110,444
  • Jan 9, 2009 5:36am Jan 9, 2009 5:36am
Quoting trader2160
morning buddy.
morning, glad i got up late today i dont seemed to have missed much at all
  • #110,445
  • Jan 9, 2009 5:39am Jan 9, 2009 5:39am
Quoting PipLand
morning, glad i got up late today i dont seemed to have missed much at all
Should've done the same myself.

Nothing much til NFP...
  • #110,446
  • Jan 9, 2009 5:41am Jan 9, 2009 5:41am
Quoting PipLand
morning, glad i got up late today i dont seemed to have missed much at all
yeah.Got caught chasing the market down,but reversed instead of stopping out,made 80 pips.
  • #110,447
  • Jan 9, 2009 5:41am Jan 9, 2009 5:41am
Quoting gammase1
Should've done the same myself.

Nothing much til NFP...
yeah i dont expect huge movements until then either my short from 5264 is looking good though
  • #110,448
  • Jan 9, 2009 5:42am Jan 9, 2009 5:42am
Quoting trader2160
yeah.Got caught chasing the market down,but reversed instead of stopping out,made 80 pips.
nice work
  • #110,449
  • Jan 9, 2009 5:44am Jan 9, 2009 5:44am
Quoting PipLand
yeah i dont expect huge movements until then either my short from 5264 is looking good though
will you close it prior to data release, or hold if your target isn't hit?
  • #110,450
  • Jan 9, 2009 5:46am Jan 9, 2009 5:46am
Quoting PipLand
yeah i dont expect huge movements until then either my short from 5264 is looking good though
that exactly where i got my short too lol. so far so good!
  • #110,451
  • Jan 9, 2009 5:47am Jan 9, 2009 5:47am
Quoting Philip Pirrip
that exactly where i got my short too lol. so far so good!
nice one good luck
  • #110,452
  • Jan 9, 2009 5:47am Jan 9, 2009 5:47am
I am out of here now till News time. Need to let the PC cool and the let the broker count his change before we steal it later.

See you.
Ride the Bulls bearback!
  • #110,453
  • Jan 9, 2009 5:47am Jan 9, 2009 5:47am
Quoting PipLand
nice work
dangerous move though.Went ahead as it was bouncing off 15min 150 ma.has held since the 6th.
  • #110,454
  • Jan 9, 2009 5:48am Jan 9, 2009 5:48am
Quoting gammase1
will you close it prior to data release, or hold if your target isn't hit?
i expect my target to get hit before then, but most likely i will close before the release not sure yet will see what happens
  • #110,455
  • Jan 9, 2009 5:49am Jan 9, 2009 5:49am
Quoting Philip Pirrip
that exactly where i got my short too lol. so far so good!
you've got some breathing space on it.

personally, wouldn't take a position in this sort of market, prior to a massive data release

gl
  • #110,456
  • Jan 9, 2009 5:50am Jan 9, 2009 5:50am
Quoting trader2160
dangerous move though.Went ahead as it was bouncing off 15min 150 ma.has held since the 6th.
for me it was previous resistance and also yesterdays 23.6 retracement fib, so i saw it as a good risk to reward ratio as i could put a close stop on it
  • #110,457
  • Jan 9, 2009 5:50am Jan 9, 2009 5:50am
Quoting PipLand
nice one good luck
same to you. maybe it'll hit 5114 again and we can ride it all the way back up
  • #110,458
  • Jan 9, 2009 5:52am Jan 9, 2009 5:52am
Quoting Shermenator
we should get a chance to sell from 5300 to 5250

Attachment
Where are we going?
  • #110,459
  • Jan 9, 2009 5:52am Jan 9, 2009 5:52am
Quoting PipLand
yeah i dont expect huge movements until then either my short from 5264 is looking good though
brilliant entry.
  • #110,460
  • Jan 9, 2009 5:52am Jan 9, 2009 5:52am
Quoting PipLand
i expect my target to get hit before then, but most likely i will close before the release not sure yet will see what happens
personally, i'd close beforehand, irrespective of target being hit or not, as whipsaw action in the immediate aftermath of NFP could wipe trade out in seconds - price could well gap past your stop, before quickly travelling south. in my opinion, it's a gamble holding and hoping it works in such an irrational environment.

markets too directionless now, so am out until after NFP.
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