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Cable Update (GBPUSD)

  • #117,741
  • Feb 4, 2009 4:04am Feb 4, 2009 4:04am
  •  Trader#C67F
  • | Status: Unregistered Trader
Quoting magicfx
i went short - down 20 pips at the moment

think it may stay in that channel - will wait and see
went short also... but at 4404
  • #117,742
  • Feb 4, 2009 4:05am Feb 4, 2009 4:05am
Quoting magicfx
i went short - down 20 pips at the moment

think it may stay in that channel - will wait and see
same here..its playing down n up..no clear direction for now..but who knows...
money is for living
  • #117,743
  • Feb 4, 2009 4:05am Feb 4, 2009 4:05am
Quoting nAVIN2007
yes im beginning to think the only reason why we cant is because brokers want to make life as hard as possible for us..
I have an account with Thinkorswim. I use the platform for 10 minute charts.
  • #117,744
  • Feb 4, 2009 4:10am Feb 4, 2009 4:10am
morning everyone!

I should have stayed in bed. I cant see any good risk to reward ratio trades here at all!

were still being contained by the downward trendline but this is getting a good testing and could break so I wouldnt want to short that anymore, although that would still be my preference.

It also looks like were still in an uptrend, my 1hr chart is looking extremely confused
  • #117,745
  • Feb 4, 2009 4:10am Feb 4, 2009 4:10am
Be careful now..with UK showing a favorable Services PMI

Nothing will happen until USA's ADP report submits results.
if ADP shows a favorable number..we may witness a Bullish rally..
if we see dissmal numbers for ADP...we may see small Bearish moves
the rest is vague to me..

Not worth scalping and risk getting caught in a mild run.
Not until numbers are out in 3.5 hours.
any trading right now is guess work..and chance...good luck
  • #117,746
  • Feb 4, 2009 4:12am Feb 4, 2009 4:12am
  •  Trader#C67F
  • | Status: Unregistered Trader
took my profits... gonna walk away for now... market too flat for me to agonize...

happy pippin' all
  • #117,747
  • Feb 4, 2009 4:14am Feb 4, 2009 4:14am
Quoting JammerJams
I have seen some brokers do some nasty things over the years...

Their job is to turn customers. A broker knows the numbers well..It has already factored in that over 80% of traders loose..and so they hedge on this.

A winning trader cost them money.

"food for thought"
yes i never realised that brokers wanted us to lose, the fact that they hedge against us explains why...very sad
  • #117,748
  • Feb 4, 2009 4:16am Feb 4, 2009 4:16am
Quoting daffy
well, there's also the possibility that noone has told them we want it. on the face of it, it is an odd request.
id be surprised its a flaw in the platform...i know plenty of people to request it be sorted, and still nothing is done
  • #117,749
  • Feb 4, 2009 4:18am Feb 4, 2009 4:18am
Quoting JammerJams
For those interested...there is a tight consolidation.

but showing a preference to the upward trend line

This is going to act like a spring shortly...news will just unleash it.

Rate cut and ADP Payroll will affect each other...

G/U
Consideration: Bad Payroll numbers and 1.0 rate cut: Strong Bearish
Neutral Payroll and .5 rate cut: Not much change
Payroll numbers Improve and .5 rate cut: Strong Bullish

I would like to see your views on the options presented...

factors to consider: 1. (.5) is already factored in
2. No rate cut is always...
I am in the bear camp. I think numbers will come out bad. Also, there is a possibility that a more than expected rate cut will happen. This is based on the jawboning by Blanchflower when he said that the BOE must step up rate cut pace.
  • #117,750
  • Feb 4, 2009 4:21am Feb 4, 2009 4:21am
, let's see...
Attached Image (click to enlarge)
Click to Enlarge Name: 04022009.gif Size: 57 KB
  • #117,751
  • Feb 4, 2009 4:22am Feb 4, 2009 4:22am
Quoting Ipips
I am in the bear camp. I think numbers will come out bad. Also, there is a possibility that a more than expected rate cut will happen. This is based on the jawboning by Blanchflower when he said that the BOE must step up rate cut pace.
I will not trade until facts are out. Assuming is the little death in this business

All I want is a clear trend with news favoring this trend...and continued support...oh what a wish!

But ever since November..we are seeing a wave of indecision and confusion.
like trying to fish in a row boat out at sea during a typhoon!
  • #117,752
  • Feb 4, 2009 4:27am Feb 4, 2009 4:27am
closed out all my positions...im out now guys..happy pippins all...gud luck n trade well bros n sista
money is for living
  • #117,753
  • Feb 4, 2009 4:28am Feb 4, 2009 4:28am
Quoting PipLand
morning everyone!

I should have stayed in bed. I cant see any good risk to reward ratio trades here at all!

were still being contained by the downward trendline but this is getting a good testing and could break so I wouldnt want to short that anymore, although that would still be my preference.

It also looks like were still in an uptrend, my 1hr chart is looking extremely confused
thats exactly why i decided to adapt this style of trading where i hold the position for a while....i can only imagine exiting yesterday and finding it impossible to enter again without incurring loss.

the number of folk in here getting killed must be huge its looking incredible random noise right now
  • #117,754
  • Feb 4, 2009 4:28am Feb 4, 2009 4:28am
why fo i still feel that she will go down?
  • #117,755
  • Feb 4, 2009 4:33am Feb 4, 2009 4:33am
Quoting PipLand
morning everyone!

I should have stayed in bed. I cant see any good risk to reward ratio trades here at all!

were still being contained by the downward trendline but this is getting a good testing and could break so I wouldnt want to short that anymore, although that would still be my preference.

It also looks like were still in an uptrend, my 1hr chart is looking extremely confused
wouldnt expect anything else ahead of big news, BOE, ECB tomorrow, then non farm friday, would expect things to get back to normal next week
Trading is 80% Emotional, 20% Technical
  • #117,756
  • Feb 4, 2009 4:36am Feb 4, 2009 4:36am
Quoting fx local
wouldnt expect anything else ahead of big news, BOE, ECB tomorrow, then non farm friday, would expect things to get back to normal next week
yo bro...hope u doing well brother
good fortune to u this year bro!
  • #117,757
  • Feb 4, 2009 4:37am Feb 4, 2009 4:37am
Quoting nAVIN2007
thats exactly why i decided to adapt this style of trading where i hold the position for a while....i can only imagine exiting yesterday and finding it impossible to enter again without incurring loss.

the number of folk in here getting killed must be huge its looking incredible random noise right now
Yeah thats how I used to trade and with good results and less stress lol!

But the last couple of months ive been having even better success trading intraday. The last couple of days have been challenging though I cant seem to find good opportunities and im looking everywhere, under rocks etc lol

I'll see what happens when these numbers come out. The problem Im having this week is I normally have a bias on direction, then wait for my entry. But im very neutral on direction at the moment we could be on the beginnings of a reversal or we could tank past 1.35, so thats whats causing me problems at the moment.
  • #117,758
  • Feb 4, 2009 4:40am Feb 4, 2009 4:40am
Quoting fx local
wouldnt expect anything else ahead of big news, BOE, ECB tomorrow, then non farm friday, would expect things to get back to normal next week
Yeah I wont be about next week so your all gonna have to grab some pips for me.

Im hoping to grab some tomorrow after the rate decision we should get at least some action then!
  • #117,759
  • Feb 4, 2009 4:43am Feb 4, 2009 4:43am
Quoting nAVIN2007
thats exactly why i decided to adapt this style of trading where i hold the position for a while....i can only imagine exiting yesterday and finding it impossible to enter again without incurring loss.

the number of folk in here getting killed must be huge its looking incredible random noise right now
With you on this one my friend

Are you looking at the 4HR EUR/GBP by any chance ? Reference the weekly chart and the round number that it is at too . . . Food for thought

Quoting PipLand
I cant seem to find good opportunities and im looking everywhere, under rocks etc lol
Lol I am with you on this, only one trade on cable this week. That massive 1HR Hammer that you might remember at 1.42 looked good for .5% on monday but lucky enough it didn't trigger
  • #117,760
  • Feb 4, 2009 4:44am Feb 4, 2009 4:44am
Quoting nAVIN2007
yo bro...hope u doing well brother
good fortune to u this year bro!
thanks buddy, u to also bro
Trading is 80% Emotional, 20% Technical
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