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Cable Update (GBPUSD)

  • #117,861
  • Feb 4, 2009 7:40am Feb 4, 2009 7:40am
Quoting Bullfx
I read in some newspaper that UK will lost about 1.7 billion USD due to this Snow storm

http://vnexpress.net/Files/Subject/3B/A0/AE/C4/sn11.jpg
Yeah London is paralysed when it snows, I took the day off like most people in London on Monday, was good fun for me but not for the economy lol
  • #117,862
  • Feb 4, 2009 7:42am Feb 4, 2009 7:42am
Shorted at 1.4466. Ugly looking top on 10 min charts.
  • #117,863
  • Feb 4, 2009 7:43am Feb 4, 2009 7:43am
i moved my stop up as well..
Attached Image (click to enlarge)
Click to Enlarge Name: cable30mr.gif Size: 24 KB
  • #117,864
  • Feb 4, 2009 7:44am Feb 4, 2009 7:44am
Draw a horizontal trend line at 4472 and you will see the brick wall it must break thru to higher. Critical resistance point and it has failed twice already today. That is line in the sand for continuation. She test and fails again with 1 hr showing trade signal expect her to test and break 4410. I am with dollar shorts and expect a break on next test. ISM at 10am could be trigger because most fundamental news triggers technical indicators
  • #117,865
  • Feb 4, 2009 7:48am Feb 4, 2009 7:48am
......
Attached Image (click to enlarge)
Click to Enlarge Name: cable30mr.gif Size: 24 KB
  • #117,866
  • Feb 4, 2009 7:51am Feb 4, 2009 7:51am
It's a war right here and see who wins i am in the battle
  • #117,867
  • Feb 4, 2009 7:52am Feb 4, 2009 7:52am
Quoting Bullfx
I read in some newspaper that UK will lost about 1.7 billion USD due to this heviest Snow storm in 18 years because staff, workers can not go to work. Airport, railway, road have to stop operation. Snow storm is forecast to continue in next days and may add to loss of 5 billions USD. Thousands of schools and buses also stop ... . Red bus in Germany have to stop for the first time in last ... 100 year.

http://vnexpress.net/Files/Subject/3B/A0/AE/C4/sn11.jpg
Railway full of 10 cm snow
yes the snow fall was amazing..i still havent left my home because of it
  • #117,868
  • Feb 4, 2009 7:52am Feb 4, 2009 7:52am
Watch accelerated move by triggering stops to cover when break 1.45
  • #117,869
  • Feb 4, 2009 7:53am Feb 4, 2009 7:53am
Quoting Ipips
Shorted at 1.4466. Ugly looking top on 10 min charts.
Escaped with 1 pip profit. Phew!!!!
  • #117,870
  • Feb 4, 2009 7:53am Feb 4, 2009 7:53am
Quoting sofia101
Same here
I agree as well...

US is the bell-weather indicator for how Europe will be doing in the future...

a better then expected report for US will give UK hope of a turn in the economy...

so I am viewing G/U Bullish at this time...but not entering a trade until it settles down a little..creating an upward trendline..
  • #117,871
  • Feb 4, 2009 7:54am Feb 4, 2009 7:54am
Abuawad, this could be the 1H candle you're looking to close above your two red lines...
  • #117,872
  • Feb 4, 2009 7:54am Feb 4, 2009 7:54am
Quoting Gonzo
Thanks, as I said I'm learning and getting there. I'm kicking myself for this 'reaction trade', I'd just come back from an hour away to see those posts, done well on dummy trading so far. So again, thanks for posts and to others I didn't mention.
sorry 2 heard ur comment before...all of us here still learning becoz forex can turn opposite with what u saw at chat....so a lot of friend here discuss what market goes on....every one try 2 make profit....so may be somebody saw what we not saw....live trading very different from demo but if u cant profit in demo...i think in live u 100% more difficult...sorry 2 say but its true...every one whos loss know what i say....like me
  • #117,873
  • Feb 4, 2009 7:55am Feb 4, 2009 7:55am
stack at 4520. Must clear 4510 to be true break out. If she goes will stack to increase return. Clear sailing on break.
  • #117,874
  • Feb 4, 2009 7:58am Feb 4, 2009 7:58am
[FONT='Arial','sans-serif']A PYRAMID or STACK TRADE is similar to trend trade, while stacking at different break points, with 4:1 Leverage on entry, 2:1 Leverage on break point, and 1:1 Leverage, to create pyramid, while looking for a target. This trade requires good risk management, discipline, and patience, in order for market to hit target. It keeps your initial entry well below market, controlling your risk by adjusting stop to original entry which eliminates risk on that position and looks to maximize return for next directional break within trend channel. This trade reduces your downside to a minimum due to partial entry while at the same time maximizing your return and rewarding you for correct trend identified.[/font]
  • #117,875
  • Feb 4, 2009 8:00am Feb 4, 2009 8:00am
Quoting Professor4x
Watch accelerated move by triggering stops to cover when break 1.45
1.4500 is a very key level. There may also be a flood of sell orders at 1.4500. Could spike above 1.45 triggering some stops and then fall back down. Wait for confirmation.. Don't be trapped in that trade. It could be the highest or lowest price you're buying or selling the sterling for the following days.
  • #117,876
  • Feb 4, 2009 8:00am Feb 4, 2009 8:00am
failed to break so news will be trigger. Have to expect worse news and it should stay between 1.45 and 1.4410 until than so have to be patienced.
  • #117,877
  • Feb 4, 2009 8:02am Feb 4, 2009 8:02am
Quoting Ipips
1.4500 is a very key level. There may also be a flood of sell orders at 1.4500. Could spike above 1.45 triggering some stops and then fall back down. Wait for confirmation.. Don't be trapped in that trade. It could be the highest or lowest price you're buying or selling the sterling for the following days.
Good advise wait for the retest before going long
  • #117,878
  • Feb 4, 2009 8:02am Feb 4, 2009 8:02am
Quoting Ipips
1.4500 is a very key level. There may also be a flood of sell orders at 1.4500. Could spike above 1.45 triggering some stops and then fall back down. Wait for confirmation.. Don't be trapped in that trade. It could be the highest or lowest price you're buying or selling the sterling for the following days.
Very good advice, never good to buy on first break let her retrace and most times will get better entry on same side. Try not to get excited and wait on her.
  • #117,879
  • Feb 4, 2009 8:03am Feb 4, 2009 8:03am
Quoting Ipips
Abuawad, this could be the 1H candle you're looking to close above your two red lines...
can't say yes or no it's on the fibo van line till now.
  • #117,880
  • Feb 4, 2009 8:03am Feb 4, 2009 8:03am
out of interest how many are short in here?

25%, 50%, 75% of people
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