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Cable Update (GBPUSD)

  • #8,841
  • Mar 22, 2007 9:28am Mar 22, 2007 9:28am
Quoting leelee75k
also looking for cable long below 9660

learning to be patient is the hardest thing for me. Trying very hard not to pull the trigger and get into a bad trade.
Thy will be done
  • #8,842
  • Mar 22, 2007 9:35am Mar 22, 2007 9:35am
thanks detail

but I would prefer getting into the short before I get the long

  • #8,843
  • Mar 22, 2007 9:41am Mar 22, 2007 9:41am
Quoting goonergonebad
No Cesar, had a bad knock to the confidence day yesterday (AM - GMT) and I am finding today just a hard day to read. Not certain on scalping opportunities and in my limited FIBO ability am unable to determine a clear direction for a longer trade position.

Sorry again if I pissed people off.
Today is a hard and lousy day. NYC not showing up is weird. Not retracing some of the move of last two days is weird. Holding 4hr and daily overbought is weird...

Now, all them together is "bullish" to me. all charts can easily recover from overbought without big move down. In this case we may have SEVERAL HOURS of this damn choppy market until something comes up...

No one has the guts to buy at 9703 for hours. But there are still big dip buyers just ahead of 9666 for this whole session.

Nothing today has inspired profit taking of 500 pips move... This has to means something...

I'm no adding or TPing. Just watching. Patience is the word for today...
  • #8,844
  • Mar 22, 2007 9:57am Mar 22, 2007 9:57am
Quoting cesarnc
Today is a hard and lousy day. NYC not showing up is weird. Not retracing some of the move of last two days is weird. Holding 4hr and daily overbought is weird...

Now, all them together is "bullish" to me. all charts can easily recover from overbought without big move down. In this case we may have SEVERAL HOURS of this damn choppy market until something comes up...

No one has the guts to buy at 9703 for hours. But there are still big dip buyers just ahead of 9666 for this whole session.

Nothing today has inspired profit taking of 500 pips move... This has to means something...

I'm no adding or TPing. Just watching. Patience is the word for today...
Thx, I feel better already... Just placed 100 lot order long at 9667. If only...
  • #8,845
  • Mar 22, 2007 10:08am Mar 22, 2007 10:08am
100 lots.

while I realize the benefits of large lots and small movements and well big movements too, I prefer to deal with smaller increments that add up to my goal. That way I have wiggle room and can usually average myself back into the game without getting wiped out.

not questioning your strategy or style or anything, you obviously have more to play with and bigger potential for bigger gains. Hope you rake it in if it happens.
  • #8,846
  • Mar 22, 2007 10:18am Mar 22, 2007 10:18am
Quoting goonergonebad
Thx, I feel better already... Just placed 100 lot order long at 9667. If only...
with 100 lots I'd TP at 9668 and would call it a week
  • #8,847
  • Mar 22, 2007 10:21am Mar 22, 2007 10:21am
Quoting cesarnc
with 100 lots I'd TP at 9668 and would call it a week
I hear ya! Geez, how do you justify your R:R on a 100 lot trade!
  • #8,848
  • Mar 22, 2007 10:26am Mar 22, 2007 10:26am
Took profit at 9675 for 45 pips at 10 lots. Now watch, I close my short and the bottom will fall out and price will sink 100 pips. Never fails!
  • #8,849
  • Mar 22, 2007 10:27am Mar 22, 2007 10:27am
Quoting IN-N-OUT
Took profit at 9675 for 45 pips at 10 lots. Now watch, I close my short and the bottom will fall out and price will sink 100 pips. Never fails!
It would be the best!
Tra-X
  • #8,850
  • Mar 22, 2007 10:30am Mar 22, 2007 10:30am
Haha, I closed my short from 9697 as well, also at 9675! Great minds think a like, huh?

Yeah, I'll be watching it as well to see. There's a fair bit of short term resistance around that 9672 mark but if she breaks it, look out!

I wouldn't be surprised though, as I do see short term USD strength in the cards. Already up nicely on my USDCAD and USDCHF trades as a result...
  • #8,851
  • Mar 22, 2007 10:32am Mar 22, 2007 10:32am
Now watch price crash through the bottom of the box! I have a breakout entry resting there. But still, it never fails ; )
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  • #8,852
  • Edited 10:51am Mar 22, 2007 10:33am | Edited 10:51am
Quoting ~Shard~
I hear ya! Geez, how do you justify your R:R on a 100 lot trade!
The quantity of lots is irrelevant... because the profit depends of equity.

If you have an account with 1.000.000 USD of balance, then 100 (standard) lots is the 10%.

The pips is a good measurement of quality trades
  • #8,853
  • Mar 22, 2007 10:37am Mar 22, 2007 10:37am
Quoting pablorpl
The quantity of lots is irrelevant... because the profit depends of equity.

If you have a account with 1.000.000 USD balance then 100 (standard) lots is the 10%.

The pips is a good measurement of quality trades
Yeah, quite true - I guess it's just more of the psychological factor than anything in that case... at least it would be for me...
  • #8,854
  • Mar 22, 2007 11:00am Mar 22, 2007 11:00am
Quoting cesarnc
Today is a hard and lousy day. NYC not showing up is weird. Not retracing some of the move of last two days is weird. Holding 4hr and daily overbought is weird...

Now, all them together is "bullish" to me. all charts can easily recover from overbought without big move down. In this case we may have SEVERAL HOURS of this damn choppy market until something comes up...

No one has the guts to buy at 9703 for hours. But there are still big dip buyers just ahead of 9666 for this whole session.

Nothing today has inspired profit taking of 500 pips move... This has to means something...

I'm no adding or TPing. Just watching. Patience is the word for today...
I think this sideway market will last until NY tomorrow or even into next week (unlikely). The big traders are all waiting for someone else to make a move.

It looks like there is just accumulation on dips right now. Any news might be a catalyst for a move up, whether good or bad.
  • #8,855
  • Mar 22, 2007 11:27am Mar 22, 2007 11:27am
one stupid coment then i go an a bike at 5 Celsius....when i come to bad on friday (that is tomorow if i am right), i dont think i am gona wake up till sunday 12:00 local... ...have fun....
its just money
  • #8,856
  • Mar 22, 2007 11:32am Mar 22, 2007 11:32am
And there she goes!!! Damn!
  • #8,857
  • Mar 22, 2007 11:38am Mar 22, 2007 11:38am
Quoting IN-N-OUT
And there she goes!!! Damn!
Good call, too bad we're on the sidelines! The signs were definitely there. When you get so many people and sources being short-term bullish and saying "1.9777 and 1.9900 is next!!!" you can't be surprised when something like this happens...
  • #8,858
  • Mar 22, 2007 11:40am Mar 22, 2007 11:40am
Quoting IN-N-OUT
Took profit at 9675 for 45 pips at 10 lots. Now watch, I close my short and the bottom will fall out and price will sink 100 pips. Never fails!
LOL down 40 pips in a couple of minutes....someone likes the dollar.....if it was just cable it could have been HC loading up with another billion shorts!
Trading Levels with WRBs
  • #8,859
  • Mar 22, 2007 11:42am Mar 22, 2007 11:42am
Quoting IN-N-OUT
And there she goes!!! Damn!
Tra-X
  • #8,860
  • Mar 22, 2007 11:52am Mar 22, 2007 11:52am
bought at 32, looking for a quick 20 pips and i'm out

wasn't even paying attention, turned around and saw this...

could go further down, so i'm scalping at the moment.

oh and I bought my 3rd euro long
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