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Cable Update (GBPUSD)

  • #114,381
  • Jan 23, 2009 2:33am Jan 23, 2009 2:33am
Quoting ezodisy
looking like a fakeout above the triangle and then a dive below it possibly
NOTHING IS IMPOSIBLE
  • #114,382
  • Jan 23, 2009 2:34am Jan 23, 2009 2:34am
Quoting laromanell
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?
wow that was some massive sell-off... either some one wants to short in a hurry... OR... some massive long SL was hit... suspect it was the latter!
  • #114,383
  • Jan 23, 2009 2:34am Jan 23, 2009 2:34am
Quoting sleep1Iopen
Anyone else looking for new lows tonight? Still couple lot short 1.3868 here.
Cheers
I believe there is a good chance that we will see new lows before NY opens.

JMHO
  • #114,384
  • Jan 23, 2009 2:34am Jan 23, 2009 2:34am
eo,what did you mean by no draw down on the pin bar on the 15m chart?
Keep It Simple Stupid
  • #114,385
  • Jan 23, 2009 2:36am Jan 23, 2009 2:36am
I am long GU at 1.3670, TP 1.3780
Give me patience
  • #114,386
  • Jan 23, 2009 2:37am Jan 23, 2009 2:37am
1h and potential parallel channel looks bearish to me but my 4h 5sma is way above around 786 and it's too late to short right now for me. Will sit on my hands until I see potential
  • #114,387
  • Jan 23, 2009 2:37am Jan 23, 2009 2:37am
Quoting Alastair
eo,what did you mean by no draw down on the pin bar on the 15m chart?
I know I've a good trade when there is 0 drawdown on my account. Meaning, the only part that is negative is the spread, the price never goes against my entry price and just continues to profit.
Just digging in the trenches like everyone else!
  • #114,388
  • Jan 23, 2009 2:38am Jan 23, 2009 2:38am
Quoting eohater
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.
Fair enough comment. I just think when price is close to my entry there wud not be much point in puttin sl there for it to get hit. We have different views, i respect ur point though.
  • #114,389
  • Jan 23, 2009 2:38am Jan 23, 2009 2:38am
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.
You should hit the roulette table dude. Using no Stop loss is more hoping than trading IMHO.

Goodmorning gang. So the wedge was broken to the downside...

Missed the breakout but waiting for next setup...

Have a good green day.
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  • #114,390
  • Jan 23, 2009 2:39am Jan 23, 2009 2:39am
Quoting eohater
I know I've a good trade when there is 0 drawdown on my account. Meaning, the only part that is negative is the spread, the price never goes against my entry price and just continues to profit.
makes sense!
Keep It Simple Stupid
  • #114,391
  • Jan 23, 2009 2:39am Jan 23, 2009 2:39am
Quoting Bullfx
I am long GU at 1.3670, TP 1.3780
If there was a position to take right now, that might be it. I couldn't pull the trigger short at the current price. Any longs here and my SL would be below 3625.
Just digging in the trenches like everyone else!
  • #114,392
  • Jan 23, 2009 2:41am Jan 23, 2009 2:41am
Quoting fry2010
Fair enough comment. I just think when price is close to my entry there wud not be much point in puttin sl there for it to get hit. We have different views, i respect ur point though.
Nothing at all wrong with your style. Every trade needs to breathe, no doubt about it! Key is that your making money! ATM, your short looks good. Don't forget to take profit along the way.
Just digging in the trenches like everyone else!
  • #114,393
  • Jan 23, 2009 2:42am Jan 23, 2009 2:42am
Vourvel I will not even dignify u with an answer.
EO, yes that is a gd idea.
  • #114,394
  • Jan 23, 2009 2:43am Jan 23, 2009 2:43am
Quoting eohater
If there was a position to take right now, that might be it. I couldn't pull the trigger short at the current price. Any longs here and my SL would be below 3625.
targeting what rate?
Keep It Simple Stupid
  • #114,395
  • Jan 23, 2009 2:43am Jan 23, 2009 2:43am
Fiber trading below 1.29, E/G trading above 1.94...

Does not look good for sterling...
  • #114,396
  • Jan 23, 2009 2:44am Jan 23, 2009 2:44am
Food for thought. I read earlier this week on the thread, that last time price successfully broke past 3680, she stayed below it for 55 weeks. The area we are in right now is the completion of a retracement. In my eyes, the long term trend for cable is just now becoming short. Before, this last week, long term view for me was still long.
Just digging in the trenches like everyone else!
  • #114,397
  • Jan 23, 2009 2:45am Jan 23, 2009 2:45am
Quoting eohater
Nothing at all wrong with your style. Every trade needs to breathe, no doubt about it! Key is that your making money! ATM, your short looks good. Don't forget to take profit along the way.
Remember, the pips aren't yours until the position is closed. I personally prefer to bank at least some pips along the way. Remember you can always add to or open a new position if the opportunity presents itself.
  • #114,398
  • Jan 23, 2009 2:47am Jan 23, 2009 2:47am
Quoting Alastair
targeting what rate?
This is what I'm looking at. We still have a bullish daily candle that is still in play. The low on that candle was 3623 for me. I'm looking for my 4h candle, which closes in 15m to close flat and close to but NOT below the 3623 area, I'll go long, TIGHT SL and target back to the top. She could take me out without a doubt. TP points would be along the way. May TP would be for me on the 15m 50ema. I'll take half of my position off there and keep my position covered ASAP.
Just digging in the trenches like everyone else!
  • #114,399
  • Jan 23, 2009 2:48am Jan 23, 2009 2:48am
Quoting SmoothTrader
Remember, the pips aren't yours until the position is closed. I personally prefer to bank at least some pips along the way. Remember you can always add to or open a new position if the opportunity presents itself.

Exactly! Get paid for your work. I know some who only add to wining positions.
Just digging in the trenches like everyone else!
  • #114,400
  • Jan 23, 2009 2:48am Jan 23, 2009 2:48am
is it possible to 1.3525 or 1.3441 level until over candle 4H over touching down on stochacstic level ? I used 5-3-3 and 14-3-3 oscillator
The Ottelo way's find the mutual system to wins
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