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Cable Update (GBPUSD)

  • #112,881
  • Jan 19, 2009 7:34pm Jan 19, 2009 7:34pm
long 1.4277
  • #112,882
  • Jan 19, 2009 7:37pm Jan 19, 2009 7:37pm
Quoting goop
long with tight stop loss as bounced off long term support @14278
I'm with you North with tight SL, Open @ 1.4272
  • #112,883
  • Jan 19, 2009 7:40pm Jan 19, 2009 7:40pm
I am in long as well..since 1.4260...hope for a nice stop later on top..with SL at profit of 10pips
  • #112,884
  • Jan 19, 2009 7:51pm Jan 19, 2009 7:51pm
Quoting amar747
I am in long as well..since 1.4260...hope for a nice stop later on top..with SL at profit of 10pips
Quoting goop
long with tight stop loss as bounced off long term support @14278
Quoting nedal26
long 1.4277
HI all friends, I'm blind on it, i just tell to you, from where the Take profit? till now, I'm 0 Take profit.

thanks.
  • #112,885
  • Jan 19, 2009 7:51pm Jan 19, 2009 7:51pm
It seems im not the only one long then! it hasnt exactly 'bounced' off the tl as it has on previous touches, do we think thats because the time of day or?
  • #112,886
  • Jan 19, 2009 8:18pm Jan 19, 2009 8:18pm
its not looking good!
  • #112,887
  • Jan 19, 2009 8:19pm Jan 19, 2009 8:19pm
Wow, I can't even get hold of data back far enough that shows the last time the cable was this low. Record was 1.42494 earlier today.

What happens when a currency pair drops off the bottom of all supports and resistances, surely it can't just drop forever and collapse entirely, but how do you work out what it is going to do next. It would have to be pure guess wouldn't it?

I am guessing the massive massive loss of the Bank of Scotland has something to do with this dive.
Making Pips is easy, loosing them is even easier!
  • #112,888
  • Jan 19, 2009 8:28pm Jan 19, 2009 8:28pm
Wow. 1.42212 and still falling!! That's amazing. Any one with a short back up at 1.47 is now loaded!!
Making Pips is easy, loosing them is even easier!
  • #112,889
  • Jan 19, 2009 8:32pm Jan 19, 2009 8:32pm
Quoting nedal26
long 1.4277
some ppl never learn/.//

Sonic
  • #112,890
  • Jan 19, 2009 8:35pm Jan 19, 2009 8:35pm
just closed @ 5 pips before She fall
  • #112,891
  • Jan 19, 2009 8:35pm Jan 19, 2009 8:35pm
Go the 23.6% retrace!

How is there anyone with anything left to sell. Surely everyone's stops have been slaughtered by now!
Making Pips is easy, loosing them is even easier!
  • #112,892
  • Jan 19, 2009 8:36pm Jan 19, 2009 8:36pm
Quoting FastLife
Wow, I can't even get hold of data back far enough that shows the last time the cable was this low. Record was 1.42494 earlier today.

What happens when a currency pair drops off the bottom of all supports and resistances, surely it can't just drop forever and collapse entirely, but how do you work out what it is going to do next. It would have to be pure guess wouldn't it?

I am guessing the massive massive loss of the Bank of Scotland has something to do with this dive.
yes and thats why the euro is matching it pip for pip - i dont think so

You guys have tunnel vision

Bank of scotland bollocks
  • #112,893
  • Jan 19, 2009 8:37pm Jan 19, 2009 8:37pm
It's all about the trend, not picking up pennies in front of a bulldozer trying to guess when to go long.
  • #112,894
  • Jan 19, 2009 8:41pm Jan 19, 2009 8:41pm
It reminds me of when the old lady's stockbroker called her and said her shares had gone down

she said - why ?

he said 'the russians have crossed the bosphorus'

He called next day and said they had gone up

she said - have the russians gone back then ?
====================================================

People make up reasons to suit movements they dont understand

Not that I understand them either
  • #112,895
  • Jan 19, 2009 8:41pm Jan 19, 2009 8:41pm
is it true what we see guys is that gpbusd or am i wrong?

1000 pips from last up move friday? no retrac?
  • #112,896
  • Jan 19, 2009 8:41pm Jan 19, 2009 8:41pm
Quoting deuce
It's all about the trend, not picking up pennies in front of a bulldozer trying to guess when to go long.
I'm not going to try to pick up Jack in front of that particular bulldozer!!

That's scary man! It certainly lives up to its nick name of Cable (ie the trans-Atlantic cable at the very bottom of the ocean), looks like the value of the pair is trying to get there too!
Making Pips is easy, loosing them is even easier!
  • #112,897
  • Jan 19, 2009 8:50pm Jan 19, 2009 8:50pm
Quoting allserene
It reminds me of when the old lady's stockbroker called her and said her shares had gone down

she said - why ?

he said 'the russians have crossed the bosphorus'

He called next day and said they had gone up

she said - have the russians gone back then ?
====================================================

People make up reasons to suit movements they dont understand

Not that I understand them either


Yes. Trying to find a reason is a waste of time. We trade the charts and respond to what they tell us. That is our reality.
  • #112,898
  • Jan 19, 2009 8:53pm Jan 19, 2009 8:53pm
Was short from 4283, got out at 4196. Missed most of the 900 tick move, but oh well... Atleast I didn't try to buy and lose a ton of money. Anyways guys, I suggst to wait till the mkt reverses, AND TELLS YOU THAT IT IS GOING UP. regardless of if it hit support and you think it is. Just because it is near support, dosen't mean it will bounce up. If it is, by waiting for the market to tell you, you'd not make as much, but it will definitely keep your losses small. I wont tell you how I figure it out, but I can tell you that I use price action. Buy late and sell early. Thats what Livermore, and plenty of other famous traders say! Follow their advice, and don't think you are god! Just be a slave to the market, and it will reward you!
  • #112,899
  • Jan 19, 2009 8:54pm Jan 19, 2009 8:54pm
Daily trendline at around 1.42. Anyone thinking of going long here?
  • #112,900
  • Jan 19, 2009 8:57pm Jan 19, 2009 8:57pm
I think long term the pound will go waayyyy lower, now that it broke through the wedge.
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