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Cable Update (GBPUSD)

  • #114,361
  • Jan 23, 2009 12:14am Jan 23, 2009 12:14am
Quoting fry2010
in at 1.3718. Im targeting 1.3600. But everyone seems to be long, this has me worried.
Be strong in your own convictions. I was long for a quick scalp (my style) but now looking for the market to break down and make new lows.
  • #114,362
  • Jan 23, 2009 12:14am Jan 23, 2009 12:14am
I took 12 pips at the open, a tad risky though, trading off the 1min. S1 is a barrier.
The trend is not your friend, it's your master.
  • #114,363
  • Jan 23, 2009 12:16am Jan 23, 2009 12:16am
Quoting fry2010
Where's your SL? I would have it around 3740 myself.
Just digging in the trenches like everyone else!
  • #114,364
  • Jan 23, 2009 12:17am Jan 23, 2009 12:17am
Shorting did cross my mind earlier, but I fort it best to wait for confirmation.
I rarely get in at the best price.
  • #114,365
  • Jan 23, 2009 12:17am Jan 23, 2009 12:17am
Well, I can afford coffee in the morning now. SL hit at +3. She's diving for the depths below.....
Just digging in the trenches like everyone else!
  • #114,366
  • Jan 23, 2009 12:18am Jan 23, 2009 12:18am
I dont set a sl, i wait for where price closes, I like to give it breathing space.
  • #114,367
  • Jan 23, 2009 12:18am Jan 23, 2009 12:18am
my S/l hit.
Eo we can learn so much from you!
Keep It Simple Stupid
  • #114,368
  • Jan 23, 2009 12:19am Jan 23, 2009 12:19am
Quoting fry2010
Shorting did cross my mind earlier, but I fort it best to wait for confirmation.
I rarely get in at the best price.
Your looking good now. I'd move my SL to +2 and go from there. There will be buyers around 3620 area.
Just digging in the trenches like everyone else!
  • #114,369
  • Jan 23, 2009 12:21am Jan 23, 2009 12:21am
Quoting Alastair
my S/l hit.
Eo we can learn so much from you!
We all learn from each other. I hope your SL was green!
Just digging in the trenches like everyone else!
  • #114,370
  • Jan 23, 2009 12:22am Jan 23, 2009 12:22am
If I was short, I'd want the current 15m candle to close below 3670 and definately below 3680
Just digging in the trenches like everyone else!
  • #114,371
  • Jan 23, 2009 12:23am Jan 23, 2009 12:23am
EO, I was lurking last night in the forum but unable to comment but you had some very good advice on reading candle Price action which I really enjoyed. If anyone is looking for some good reading I can highly recommend reviewing the late US session. Thanks for such a valuable contribution.

Quoting eohater
what price did you get in at? I'm still kicking myself in the ass for not taking the short off the 15m pin near the end of the US Session.
Ride the Bulls bearback!
  • #114,372
  • Jan 23, 2009 12:23am Jan 23, 2009 12:23am
Quoting eohater
We all learn from each other. I hope your SL was green!
unfortunately not. i got in a little too early there.
Keep It Simple Stupid
  • #114,373
  • Jan 23, 2009 12:24am Jan 23, 2009 12:24am
hmm.bears taking over..but maye its just for temporary...anyway...looks more bearish n bearish..i wonder how long this will keep on going...
money is for living
  • #114,374
  • Jan 23, 2009 12:25am Jan 23, 2009 12:25am
Quoting eohater
If I was short, I'd want the current 15m candle to close below 3670 and definately below 3680
We'll have to see how they paint the charts for the next 5 minutes.

  • #114,375
  • Jan 23, 2009 12:26am Jan 23, 2009 12:26am
Quoting alcando
EO, I was lurking last night in the forum but unable to comment but you had some very good advice on reading candle Price action which I really enjoyed. If anyone is looking for some good reading I can highly recommend reviewing the late US session. Thanks for such a valuable contribution.
I had fun today! It's truely all in the candles.

Glad you found value in it! I wish I could contribute like that all the time, but my schedule doesn't always permit.
Just digging in the trenches like everyone else!
  • #114,376
  • Jan 23, 2009 12:26am Jan 23, 2009 12:26am
if price comes back up to 1.3700 it will head south again so theres no point settin a sl in my view.
  • #114,377
  • Jan 23, 2009 12:28am Jan 23, 2009 12:28am
Quoting Alastair
unfortunately not. i got in a little too early there.
It's ok! Losses are a part of it. Patience is the hardest part.
Just digging in the trenches like everyone else!
  • #114,378
  • Jan 23, 2009 12:29am Jan 23, 2009 12:29am
Anyone else looking for new lows tonight? Still couple lot short 1.3868 here.
Cheers
  • #114,379
  • Jan 23, 2009 12:29am Jan 23, 2009 12:29am
Is the market playing the upcoming news right now, so when the bad news actually are released cable will go up? Or it's going hang around 1.365x-8x level for a while and then sink?
  • #114,380
  • Jan 23, 2009 12:29am Jan 23, 2009 12:29am
Quoting fry2010
if price comes back up to 1.3700 it will head south again so theres no point settin a sl in my view.
I respectfully disagree with that statment. But if that's how you see it, go for it. It's your money. I would want to secure it, but that's just me.
Just digging in the trenches like everyone else!
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