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Cable Update (GBPUSD)

  • #117,501
  • Feb 3, 2009 3:09pm Feb 3, 2009 3:09pm
Quoting golatigo
we'll i'm short from 4474 - guess we're on the same bus
I'm in good company then! Didn't see her flying off the handle like this last night.
Just digging in the trenches like everyone else!
  • #117,502
  • Feb 3, 2009 3:09pm Feb 3, 2009 3:09pm
Quoting jack.canadia
Never buy into resistance or after a period of buying in the context of an overall downtrend ...
yes i understand this but this is not trading, its gambling..
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  • #117,503
  • Feb 3, 2009 3:12pm Feb 3, 2009 3:12pm
Quoting eohater


I'm short now at 4480, covered at +2 in the event she wants to spike up again, I'll short her again higher up.
And we ride together once again.I went short at 14436 with one lot and at 14480 with another.
  • #117,504
  • Feb 3, 2009 3:13pm Feb 3, 2009 3:13pm
Quoting nAVIN2007
yes i understand this but this is not trading, its gambling..
I don't feel my trade is a gamble. I have a trendline on the daily that I'm playing this off of. Could it continue up, yes by all means it could, but I would rather short her here than go long. Also, we did not break 4500 today, which keeps me in the short bus.
Just digging in the trenches like everyone else!
  • #117,505
  • Feb 3, 2009 3:15pm Feb 3, 2009 3:15pm
h1 closed out of steeper trend channel to top side. Cud head towards top of less steep trend channel around 4800.
Also with the not buyin into resistance etc, ul notice price has already been up here, so it removed some supply.
  • #117,506
  • Feb 3, 2009 3:16pm Feb 3, 2009 3:16pm
Quoting eohater
I don't feel my trade is a gamble. I have a trendline on the daily that I'm playing this off of. Could it continue up, yes by all means it could, but I would rather short her here than go long. Also, we did not break 4500 today, which keeps me in the short bus.
Agree
I also put a stop at break-even - so if it does go back up - no harm done
  • #117,507
  • Feb 3, 2009 3:17pm Feb 3, 2009 3:17pm
Quoting eohater
I don't feel my trade is a gamble. I have a trendline on the daily that I'm playing this off of. Could it continue up, yes by all means it could, but I would rather short her here than go long. Also, we did not break 4500 today, which keeps me in the short bus.
i always knew u had reasons bro!
it could go down, i just didnt think the close on 15m was quite as low as id have wanted it..Id myself not go long here either..so i can see why u went short as i know u play it both ways
  • #117,508
  • Feb 3, 2009 3:17pm Feb 3, 2009 3:17pm
Quoting nAVIN2007
yes i understand this but this is not trading, its gambling..
it's not gambling if you have good money management .. this is a prime area to short! ask a professional, he will tell youu . . .
  • #117,509
  • Feb 3, 2009 3:18pm Feb 3, 2009 3:18pm
There's a consecutive matching lows on usd/chf H4 chart, anybody see the reason why not to trade this one?

edit: Woops the wrong thread
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  • #117,510
  • Feb 3, 2009 3:22pm Feb 3, 2009 3:22pm
Quoting nAVIN2007
yes i understand this but this is not trading, its gambling..
And that area is minor compared to the 4480/4500 ... i did what i dont usually do and thats take a trade without a 1-2-3 formation off the high, so yes in my case i am gambling

if i am wrong, along with others in here, its a 20 pip lesson learned .. this same style of trading caught me about 75% of the move we had starting sunday ..
  • #117,511
  • Feb 3, 2009 3:22pm Feb 3, 2009 3:22pm
im short at 4463 i wish go down!!
where in the target?!
  • #117,512
  • Feb 3, 2009 3:27pm Feb 3, 2009 3:27pm
Quoting jack.canadia
And that area is minor compared to the 4480/4500 ... i did what i dont usually do and thats take a trade without a 1-2-3 formation off the high, so yes in my case i am gambling

if i am wrong, along with others in here, its a 20 pip lesson learned .. this same style of trading caught me about 75% of the move we had starting sunday ..
hope it works out for u....
  • #117,513
  • Feb 3, 2009 3:27pm Feb 3, 2009 3:27pm
1.4330 looks reasonable
  • #117,514
  • Feb 3, 2009 3:28pm Feb 3, 2009 3:28pm
Quoting jack.canadia
1.4330 looks reasonable
1.44 i reckon then up im thinking
  • #117,515
  • Feb 3, 2009 3:37pm Feb 3, 2009 3:37pm
Quoting nAVIN2007
1.44 i reckon then up im thinking
You wouldn't believe me if I said even further down.
Just digging in the trenches like everyone else!
  • #117,516
  • Feb 3, 2009 3:41pm Feb 3, 2009 3:41pm
Quoting eohater
You wouldn't believe me if I said even further down.
to be honest bro! i would man arguement for both upside and downside as well...i am against the trend here..

i just dont see a signal to sell where im seeing a reversal but what do i know
Attached Image (click to enlarge)
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  • #117,517
  • Feb 3, 2009 3:43pm Feb 3, 2009 3:43pm
Quoting eohater
You wouldn't believe me if I said even further down.
lol pretty believable.What are you targetting bro.I would start getting light around the 15min 50ma
  • #117,518
  • Feb 3, 2009 3:45pm Feb 3, 2009 3:45pm
Quoting trader2160
lol pretty believable.What are you targetting bro.I would start getting light around the 15min 50ma
I will take partial profit at the 15m 50ema. We need to get under the 15m 50ema
Just digging in the trenches like everyone else!
  • #117,519
  • Feb 3, 2009 3:52pm Feb 3, 2009 3:52pm
theres a tug of war happenning in this area
  • #117,520
  • Feb 3, 2009 3:54pm Feb 3, 2009 3:54pm
I said earlier that it could go to 1.4478 now I see it could go even higher to 1.4506 and then to 1.46 so be careful with your shorts I 'll wait for better set up
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