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Cable Update (GBPUSD)

  • #113,121
  • Jan 20, 2009 8:03am Jan 20, 2009 8:03am
Quoting steelhead
Red line entry point. white lines potential tp areas. Again stops at b/e now. Going to take a bit of profit here. Reward myself and let the rest of my lots go since stop is at be
A nice 100 pip rally & good to hear you banked some of them.
  • #113,122
  • Jan 20, 2009 8:18am Jan 20, 2009 8:18am
As you know market talks about $5 bios USDJPY expiry tomorrow at 90.00. I was speaking with our "star option trader" (Ga who thinks that as soon as this expiry will be over, there is a significant risk of Usd/Jpy fall. He will not play it through option as risk reversal not in favour of USDJPY but will keep a short spot USDJPY position.Good luck
  • #113,123
  • Jan 20, 2009 8:20am Jan 20, 2009 8:20am
]As you know market talks about $5 bios USDJPY expiry tomorrow at 90.00. I was speaking with our "star option trader" (Ga who thinks that as soon as this expiry will be over, there is a significant risk of Usd/Jpy fall. He will not play it through option as risk reversal not in favour of USDJPY but will keep a short spot USDJPY position.Good luck[/quote]
  • #113,124
  • Jan 20, 2009 8:28am Jan 20, 2009 8:28am
As expected another 500 pips drop today.
When will it end ?
  • #113,125
  • Jan 20, 2009 8:30am Jan 20, 2009 8:30am
Quoting lucio
]As you know market talks about $5 bios USDJPY expiry tomorrow at 90.00. I was speaking with our "star option trader" (Ga who thinks that as soon as this expiry will be over, there is a significant risk of Usd/Jpy fall. He will not play it through option as risk reversal not in favour of USDJPY but will keep a short spot USDJPY position.Good luck
[/quote]

wrong thread
  • #113,126
  • Jan 20, 2009 8:31am Jan 20, 2009 8:31am
Quoting Atondra
As expected another 500 pips drop today.
When will it end ?
'expected'....???? If only....then it would have been a piece of piss to trade....
  • #113,127
  • Jan 20, 2009 8:40am Jan 20, 2009 8:40am
Quoting lucio
]As you know market talks about $5 bios USDJPY expiry tomorrow at 90.00. I was speaking with our "star option trader" (Ga who thinks that as soon as this expiry will be over, there is a significant risk of Usd/Jpy fall. He will not play it through option as risk reversal not in favour of USDJPY but will keep a short spot USDJPY position.Good luck
[/quote]

Wrong thread but i see short USDJPY on H4. I am waiting this candle close. 20:00 GMT+2
  • #113,128
  • Jan 20, 2009 8:46am Jan 20, 2009 8:46am
These are my possible entrys for today...
Buy Entry Orders
GBPUSD
1. Buy at 1.3990 | Tp: 1.4020
2. Buy at 1.3990 | Tp: 1.4030
3. Buy at 1.3990 | Tp: 1.4040

Sell Entry Orders
GBPUSD
1. Sell at 1.3861 | Tp: 1.3831

2. Sell at 1.3861 | Tp: 1.3821
3. Sell at 1.3861 | Tp: 1.3811
  • #113,129
  • Jan 20, 2009 8:48am Jan 20, 2009 8:48am
Quoting GuateForex
These are my possible entrys for today...
Buy Entry Orders
GBPUSD
1. Buy at 1.3990 | Tp: 1.4020
2. Buy at 1.3990 | Tp: 1.4030
3. Buy at 1.3990 | Tp: 1.4040

Sell Entry Orders
GBPUSD
1. Sell at 1.3861 | Tp: 1.3831

2. Sell at 1.3861 | Tp: 1.3821
3. Sell at 1.3861 | Tp: 1.3811
stop loss?
Patience + Discipline - Greed = Success
  • #113,130
  • Jan 20, 2009 8:52am Jan 20, 2009 8:52am
Just a query mate but don't you feel your sell limit is a little close and slightly above the days low? Hope it works for you but it may bounce a bit first directly after your order is filled..

Quoting GuateForex
These are my possible entrys for today...
Buy Entry Orders
GBPUSD
1. Buy at 1.3990 | Tp: 1.4020
2. Buy at 1.3990 | Tp: 1.4030
3. Buy at 1.3990 | Tp: 1.4040

Sell Entry Orders
GBPUSD
1. Sell at 1.3861 | Tp: 1.3831

2. Sell at 1.3861 | Tp: 1.3821
3. Sell at 1.3861 | Tp: 1.3811
Ride the Bulls bearback!
  • #113,131
  • Jan 20, 2009 8:53am Jan 20, 2009 8:53am
Quoting Atondra
As expected another 500 pips drop today.
When will it end ?
Yeah!!!
This has been the lowest since 2007.
I think it's too much and it'll retrace at 1.39
  • #113,132
  • Jan 20, 2009 8:54am Jan 20, 2009 8:54am
Quoting GuateForex
These are my possible entrys for today...
Buy Entry Orders
GBPUSD
1. Buy at 1.3990 | Tp: 1.4020
2. Buy at 1.3990 | Tp: 1.4030
3. Buy at 1.3990 | Tp: 1.4040

Sell Entry Orders
GBPUSD
1. Sell at 1.3861 | Tp: 1.3831

2. Sell at 1.3861 | Tp: 1.3821
3. Sell at 1.3861 | Tp: 1.3811

These are not good entries. Buying at 1.3990 as it is moving up isnt the right thing to do. Selling at 1.3861 as it is already moved down isnt right either.

Why why why are you buying as market is moving up, and selling as it is moving down?
  • #113,133
  • Jan 20, 2009 8:56am Jan 20, 2009 8:56am
Quoting steelhead
These are not good entries. Buying at 1.3990 as it is moving up isnt the right thing to do. Selling at 1.3861 as it is already moved down isnt right either.

Why why why are you buying as market is moving up, and selling as it is moving down?
I believe he is trading on momentum or impulses.
  • #113,134
  • Jan 20, 2009 8:58am Jan 20, 2009 8:58am
Quoting steelhead
These are not good entries. Buying at 1.3990 as it is moving up isnt the right thing to do. Selling at 1.3861 as it is already moved down isnt right either.

Why why why are you buying as market is moving up, and selling as it is moving down?
It is a breakout strategy that he uses, which nothing is wrong with it except the sell order is just above the low of the day.. That's why I am interested to know what his stop is...
Patience + Discipline - Greed = Success
  • #113,135
  • Jan 20, 2009 8:58am Jan 20, 2009 8:58am
good luck with the orders bro...
and same with alcando, i'm a little worried about the sell on low... how much should i put my stop loss on that trade?
thx
if u willing to share more details about it, it would be very appreciated

Quoting GuateForex
These are my possible entrys for today...
Buy Entry Orders
GBPUSD
1. Buy at 1.3990 | Tp: 1.4020
2. Buy at 1.3990 | Tp: 1.4030
3. Buy at 1.3990 | Tp: 1.4040

Sell Entry Orders
GBPUSD
1. Sell at 1.3861 | Tp: 1.3831

2. Sell at 1.3861 | Tp: 1.3821
3. Sell at 1.3861 | Tp: 1.3811
Money management is good for your health...
  • #113,136
  • Jan 20, 2009 9:00am Jan 20, 2009 9:00am
Quoting 13thheaven
good luck with the orders bro...
and same with alcando, i'm a little worried about the sell on low... how much should i put my stop loss on that trade?
thx
if u willing to share more details about it, it would be very appreciated
Do yourself a favor dont take that sell. Dont even think about it.

Breakout trading is very dangerous. Most are false breakouts.
  • #113,137
  • Jan 20, 2009 9:04am Jan 20, 2009 9:04am
Quoting steelhead
Do yourself a favor dont take that sell. Dont even think about it.

Breakout trading is very dangerous. Most are false breakouts.

How is your long steelhead?
  • #113,138
  • Jan 20, 2009 9:05am Jan 20, 2009 9:05am
Quoting Infinity
It is a breakout strategy that he uses, which nothing is wrong with it except the sell order is just above the low of the day.. That's why I am interested to know what his stop is...
His SL is the opposite entry price. (from what he said)

That sell order does look risky, and the buy is not better as there are plenty of willing sellers at or around the 1.4 area...
  • #113,139
  • Jan 20, 2009 9:06am Jan 20, 2009 9:06am
Textbook use of this strategy would be to breakout from a range normally successful as stops or orders have had time to build up at easily defined levels. As we are not exactly ranging but kinda trending down (maybe) the safer approach technically is to sell on pull backs as it reacts to fibs or S&R levels etc.

A pull back in this case could be several hundred pips but breakout strategy here is not really the safest strategy even tho it has worked and Guate has had great success with it.

Just a comment mate. If you take the order, I wish you the best with it.


Quoting 13thheaven
good luck with the orders bro...
and same with alcando, i'm a little worried about the sell on low... how much should i put my stop loss on that trade?
thx
if u willing to share more details about it, it would be very appreciated
Ride the Bulls bearback!
  • #113,140
  • Jan 20, 2009 9:06am Jan 20, 2009 9:06am
Quoting steelhead
Do yourself a favor dont take that sell. Dont even think about it.

Breakout trading is very dangerous. Most are false breakouts.

trading is dangerous, look at your post:

http://www.forexfactory.com/showpost...stcount=112624
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