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Cable Update (GBPUSD)

  • #117,981
  • Feb 4, 2009 11:05am Feb 4, 2009 11:05am
Quoting eohater
I agree, I took the break and the short. She had broken out of her range which is why I took the break, not because she broke 4500. My long price was at 4461 TP at 4560 and went short back at 4560. The 15m chart shows the breakout on the range and retest to confirm the move very clearly.
Sweet Trade EO
  • #117,982
  • Feb 4, 2009 11:06am Feb 4, 2009 11:06am
Quoting eohater
All of us on the short bus, get ready for a bounce here around 444x -442x area
What was your entry bro.
  • #117,983
  • Feb 4, 2009 11:06am Feb 4, 2009 11:06am
Quoting eohater
Becareful here! I recommend you get your position covered. I'm flat now ATM, my daily quota has been hit and well exceeded and I'll reassess later for a new position.
Yup. Just closed out my positions.
  • #117,984
  • Feb 4, 2009 11:07am Feb 4, 2009 11:07am
Quoting onsfx
Sweet Trade EO
Thank you! Days like today are fun! Since yesterday's close of the US Session, I've bagged over 300 pips. Can't beat that in a days work.
Just digging in the trenches like everyone else!
  • #117,985
  • Feb 4, 2009 11:07am Feb 4, 2009 11:07am
Quoting Ipips
Bullish candle on the 10 min chart. We will have some more upside.
its definately a hectic time to trade that is for sure
  • #117,986
  • Feb 4, 2009 11:08am Feb 4, 2009 11:08am
Quoting trader2160
What was your entry bro.
4560 on my short.
Just digging in the trenches like everyone else!
  • #117,987
  • Feb 4, 2009 11:09am Feb 4, 2009 11:09am
Quoting Ipips
Hope you guys were not caught in the short covering rally. Never trust the breakout..
hi there. could you just explain what you mean by the the word 'covering' in this context...? thanks a lot.
  • #117,988
  • Feb 4, 2009 11:09am Feb 4, 2009 11:09am
Quoting eohater
Becareful here! I recommend you get your position covered. I'm flat now ATM, my daily quota has been hit and well exceeded and I'll reassess later for a new position.

man u are one hell of a trader bro! i hope it comes with time
  • #117,989
  • Feb 4, 2009 11:10am Feb 4, 2009 11:10am
Got out of my two longs finally with a net of +2. Whew.

Quoting Ipips
Yup. Just closed out my positions.
Prices are never too high to begin buying or too low to begin selling.
  • #117,990
  • Feb 4, 2009 11:13am Feb 4, 2009 11:13am
Quoting linleysound
hi there. could you just explain what you mean by the the word 'covering' in this context...? thanks a lot.
Well, 1.4500 was a key level for traders. It served as key resistance over the past few weeks. Those who were bearish would have probably set their stop at a level at or above 1.4500. As the price shot up from a breakout, stops were triggered and they piled up, shooting the price even more. In addition, some traders may have added to their longs on a breakout.

Take note that this only applies to a breakout. It very likely could get back up to 1.4500 and resume it's uptrend.
  • #117,991
  • Feb 4, 2009 11:14am Feb 4, 2009 11:14am
Quoting thehenryfam
Got out of my two longs finally with a net of +2. Whew.
dont kill yurself for 2 pips bro!!
  • #117,992
  • Feb 4, 2009 11:15am Feb 4, 2009 11:15am
Quoting Ipips
Well, 1.4500 was a key level for traders. It served as key resistance over the past few weeks. Those who were bearish would have probably set their stop at a level at or above 1.4500. As the price shot up from a breakout, stops were triggered and they piled up, shooting the price even more. In addition, some traders may have added to their longs on a breakout.

Take note that this only applies to a breakout. It very likely could get back up to 1.4500 and resume it's uptrend.
  • #117,993
  • Feb 4, 2009 11:16am Feb 4, 2009 11:16am
Quoting AmeriTrini
I dont think so, traders who took the long off the 4500 break had 75 pips in profit..........
  • #117,994
  • Feb 4, 2009 11:18am Feb 4, 2009 11:18am
Quoting eohater
4560 on my short.
where do you see this going?
  • #117,995
  • Feb 4, 2009 11:21am Feb 4, 2009 11:21am
Quoting Ipips
Well, 1.4500 was a key level for traders. It served as key resistance over the past few weeks. Those who were bearish would have probably set their stop at a level at or above 1.4500. As the price shot up from a breakout, stops were triggered and they piled up, shooting the price even more. In addition, some traders may have added to their longs on a breakout.

Take note that this only applies to a breakout. It very likely could get back up to 1.4500 and resume it's uptrend.

thanks for the helpful explanation sir
  • #117,996
  • Feb 4, 2009 11:24am Feb 4, 2009 11:24am
Quoting nAVIN2007
man u are one hell of a trader bro! i hope it comes with time
Thanks bro!
Just digging in the trenches like everyone else!
  • #117,997
  • Feb 4, 2009 11:24am Feb 4, 2009 11:24am
Quoting eohater
Thank you! Days like today are fun! Since yesterday's close of the US Session, I've bagged over 300 pips. Can't beat that in a days work.


Gotta love those false breakouts that alot of folks go long on. Shorts where the trade. Now i think she breaks up for a time.


By the way Pipland and others I said on page 7827 not to trade the break of 4500. More than 24 hours ago. What say you now?
  • #117,998
  • Feb 4, 2009 11:25am Feb 4, 2009 11:25am
Bullish formation on the 10 min chart. If this 10 min candle closes above 1.45, we'll probably see it going much higher..
Attached Image (click to enlarge)
Click to Enlarge Name: 2-5-2009 1-23-23 AM.jpg Size: 218 KB
  • #117,999
  • Feb 4, 2009 11:25am Feb 4, 2009 11:25am
Quoting trader2160
where do you see this going?
Down, down, down.

I don't know to be honest. I wouldn't be surprised to see us close the day with in indecisive candle and continue to range until tomorrow.
Just digging in the trenches like everyone else!
  • #118,000
  • Feb 4, 2009 11:31am Feb 4, 2009 11:31am
No close above 1.4500.. I'm out
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