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Cable Update (GBPUSD)

  • #116,321
  • Jan 29, 2009 2:28pm Jan 29, 2009 2:28pm
Hmm. Looks poised to try for a third time to break through 4400, which is looking more and more likely. Switched my mind up from being short after this latest price action.
There's always money in the banana stand.
  • #116,322
  • Jan 29, 2009 2:34pm Jan 29, 2009 2:34pm
Quoting eohater
Did you get any of it?
sorry was checking out eu thread

Yeah got 175pips on the up lost 20pips on a short and long for another 80pips
  • #116,323
  • Jan 29, 2009 2:35pm Jan 29, 2009 2:35pm
.....who knows? hope my SL at 4450 will give me a cover!
  • #116,324
  • Jan 29, 2009 2:37pm Jan 29, 2009 2:37pm
Quoting eohater
Did you get any of it?
did you catch it too?
  • #116,325
  • Jan 29, 2009 2:39pm Jan 29, 2009 2:39pm
Quoting PipLand
did you catch it too?
No, I didn't get any of the upwards rise. I was pulled away, then went to bed. I wish I would have!!
Just digging in the trenches like everyone else!
  • #116,326
  • Jan 29, 2009 2:51pm Jan 29, 2009 2:51pm
Quoting eohater
No, I didn't get any of the upwards rise. I was pulled away, then went to bed. I wish I would have!!
ahh sorry to hear that im sure you'll get your fair share tomomorrow!!
  • #116,327
  • Jan 29, 2009 2:54pm Jan 29, 2009 2:54pm
I am stuck with a long at 4365 since morning, any advice?

Thanks in advance.
  • #116,328
  • Jan 29, 2009 2:55pm Jan 29, 2009 2:55pm
Quoting PipLand
ahh sorry to hear that im sure you'll get your fair share tomomorrow!!
I've been in bonus round since Tuesday. No worries for me!
Just digging in the trenches like everyone else!
  • #116,329
  • Jan 29, 2009 3:13pm Jan 29, 2009 3:13pm
Quoting sbhaumik
I am stuck with a long at 4365 since morning, any advice?

Thanks in advance.
It all depends on your money management and level of risk, so only you can judge that aspect. Personally I expect this to retest the highs, unlikely to happen until the asian session now or tomorrow.

People at the moment are quite divided over direction as we are still not completely clear of the trendline heading down. When peoples day candles close this might go down a bit more before going up, thats just my view it could tumble all the way down
  • #116,330
  • Jan 29, 2009 3:14pm Jan 29, 2009 3:14pm
Quoting eohater
I've been in bonus round since Tuesday. No worries for me!
cool same here had a very nice start to the week, allowed me to take a little time off too hope next week is good too so i get some spending money for holiday
  • #116,331
  • Jan 29, 2009 3:18pm Jan 29, 2009 3:18pm
I received this 10 minutes ago it may be of some use

Short positions below 1.4375 with targets @ 1.423 & 1.4165

Above 1.4375 look for further upside with 1.447 & 1.455 as targets.

the RSI has banged against a major resistance around 70% and is reversing down.
  • #116,332
  • Jan 29, 2009 3:22pm Jan 29, 2009 3:22pm
Quoting PipLand
cool same here had a very nice start to the week, allowed me to take a little time off too hope next week is good too so i get some spending money for holiday
I have one more day to collect on my loan I made at the first of the month. If I don't finish collecting it by tomorrow's close, I'm raising the interest rate.
Just digging in the trenches like everyone else!
  • #116,333
  • Jan 29, 2009 3:27pm Jan 29, 2009 3:27pm
Quoting eohater
I have one more day to collect on my loan I made at the first of the month. If I don't finish collecting it by tomorrow's close, I'm raising the interest rate.
EO, are you expecting another bounce off the 50 sma in the 15 min?
  • #116,334
  • Jan 29, 2009 3:29pm Jan 29, 2009 3:29pm
Quoting eohater
I have one more day to collect on my loan I made at the first of the month. If I don't finish collecting it by tomorrow's close, I'm raising the interest rate.
Im sure you'll do it no problem!
  • #116,335
  • Jan 29, 2009 3:30pm Jan 29, 2009 3:30pm
Quoting MarkyBoy
EO, are you expecting another bounce off the 50 sma in the 15 min?
I dont think anything will bounce much this time of day
  • #116,336
  • Jan 29, 2009 3:31pm Jan 29, 2009 3:31pm
Quoting MarkyBoy
EO, are you expecting another bounce off the 50 sma in the 15 min?
Use the 50ema more than the 50sma. I use the 50sma for it's crossing with the 35sma. I expect we'll get some sort of a bounce, but the last 1h candle closed is nice to short. Caused me to get out of my longs and go short. Here's what I'm looking for, a close below the 15m 50ema, an upward movement and confirm she's not going to go back across, and then down periscope. We need to get below the 15m 50ema to support our shorts. The daily candle is shaping up to be bearish. So, I'm not looking to play a long off the 15m 50ema, I'm looking for confirmation she's going down.
Just digging in the trenches like everyone else!
  • #116,337
  • Jan 29, 2009 3:35pm Jan 29, 2009 3:35pm
Quoting eohater
Use the 50ema more than the 50sma. I use the 50sma for it's crossing with the 35sma. I expect we'll get some sort of a bounce, but the last 1h candle closed is nice to short. Caused me to get out of my longs and go short. Here's what I'm looking for, a close below the 15m 50ema, an upward movement and confirm she's not going to go back across, and then down periscope. We need to get below the 15m 50ema to support our shorts. The daily candle is shaping up to be bearish. So, I'm not looking to play a long off the 15m 50ema, I'm looking for confirmation...
Ok, thanks - I wish I'd stuck with your advice around this time yesterday and stayed short off the bounce - I ended up getting swayed by all the talk on the forum about longs and got out - then woke up to find it had tanked by 200 pips!!!!!
  • #116,338
  • Jan 29, 2009 3:36pm Jan 29, 2009 3:36pm
Quoting PipLand
Im sure you'll do it no problem!
It's no problem if I get it or not. Sooner or later I will get it back. The longer it's out though, the higher the interest builds on it.
Just digging in the trenches like everyone else!
  • #116,339
  • Jan 29, 2009 3:36pm Jan 29, 2009 3:36pm
im thinking short bias but im quite concerned about the short body on monthly..
today we broke the low and high of previous day and ended up in the middle, this is by no means clear cut

i reckon 70:30 short direction bias ( me thinks)
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  • #116,340
  • Jan 29, 2009 3:42pm Jan 29, 2009 3:42pm
Quoting MarkyBoy
Ok, thanks - I wish I'd stuck with your advice around this time yesterday and stayed short off the bounce - I ended up getting swayed by all the talk on the forum about longs and got out - then woke up to find it had tanked by 200 pips!!!!!
This is exactly why you need to be confident with your trades and your system. If your system contradicts others, don't fret, it's your system. Use good MM and you'll be fine. If it helps you feel better, I closed my shorts out too soon as well. I closed mine out early though cause I wasn't going to be able to watch the trade and manage it.
Just digging in the trenches like everyone else!
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