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Cable Update (GBPUSD)

  • #123,341
  • Feb 25, 2009 8:42am Feb 25, 2009 8:42am
Quoting uut
now who is holding on longs?
Hit long at 1.4304...

Might be a little premature, but looking at a possible completion of bull flag on EG, and a grand fall on GU, I figured I would try for a GBP soft hedge....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #123,342
  • Feb 25, 2009 8:44am Feb 25, 2009 8:44am
There is also a potential Evening Star on the Daily Cable.

J
Attached Image (click to enlarge)
Click to Enlarge Name: gues.gif Size: 29 KB
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #123,343
  • Feb 25, 2009 8:46am Feb 25, 2009 8:46am
Yea, that is why I still got 1/2 of mine rolling downhill on cable

Quoting Magix
Hit long at 1.4304...

Might be a little premature, but looking at a possible completion of bull flag on EG, and a grand fall on GU, I figured I would try for a GBP soft hedge....
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #123,344
  • Feb 25, 2009 8:48am Feb 25, 2009 8:48am
Can you provide me with details about your idea of trading the daily ?

Quoting AJspeed
Chart the pair, trade the system and stay with the trend of the moment and you will be fine. Don't try to trade a mini account with under $10,000 in it and stick with the Daily timeframe. If you have less than that then trade a micro account, the bottom line is trade off the daily. And if anyone thinks they don't have the assets to trade the Daily, then contact me and I will show you how to do it. All that other crap you really dont need.

AJ
  • #123,345
  • Feb 25, 2009 8:51am Feb 25, 2009 8:51am
I am thinking we may have a small retrace here and maybe a run down to 4200 before a major retrace. News at ten will redirect also. Gonna hang with this for now and catch the news and see what it does however, when trading the daily, I don't care much about the news since I ride the waves anyway and that is an advantage of trading the daily.
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #123,346
  • Feb 25, 2009 8:52am Feb 25, 2009 8:52am
Quoting malcolmb14
no it has to go to 1.4800 ....

have not seen Ameritirni on here this week .... but he will owe me a donut ..lol

can anyone see the cup and handle that I am seeing ..... 1.5000 test ?


Attachment

No donut for you.
  • #123,347
  • Feb 25, 2009 8:54am Feb 25, 2009 8:54am
Quoting AmeriTrini
No donut for you.
good to see u bro..hope its all going well
  • #123,348
  • Feb 25, 2009 8:59am Feb 25, 2009 8:59am
Quoting alcando
I think nav is saying, there is a pool of blood lying there from this cable drop...
good morning boys..but not my blood...but well assumed from all that chatter... well lessons learned hope most didnt hurt too badly...
  • #123,349
  • Feb 25, 2009 8:59am Feb 25, 2009 8:59am
Call your broker and tell them to switch you to a micro account. ( You can still trade mini's with a micro if you want). If your broker don't do micros the get a real broker. Its simple really when you trade .010 micro lots and need a 500 pips stop on the Daily it only amounts to $50. You don't sweat trades anymore and you ride the waves. My trading improved 100% when I went to a micro. You trade the daily without noise and stick to basic fundementals, trendlines, wedges and channels and stuff and TRADE WITH THE TREND. You will be fine. I will be starting a new thread trading long term majors so just look for it Sunday night.

Quoting krkvak
Can you provide me with details about your idea of trading the daily ?
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #123,350
  • Feb 25, 2009 9:01am Feb 25, 2009 9:01am
My Daily Chart is showing a Major drop is on the way.

We have now hit the top of the Daily Trend line at 1.4600 and hasn't been broken so 1.40 and 1.36 could be the next target.
Attached Image (click to enlarge)
Click to Enlarge Name: daily gbp 25th Feb 09.gif Size: 20 KB
  • #123,351
  • Feb 25, 2009 9:01am Feb 25, 2009 9:01am
Quoting AJspeed
Call your broker and tell them to switch you to a micro account. ( You can still trade mini's with a micro if you want). If your broker don't do micros the get a real broker. Its simple really when you trade .010 micro lots and need a 500 pips stop on the Daily it only amounts to $50. You don't sweat trades anymore and you ride the waves. My trading improved 100% when I went to a micro. You trade the daily without noise and stick to basic fundementals, trendlines, wedges and channels and stuff and TRADE WITH THE TREND. You will be fine. I...
are u really finding that trendlines work cause in my experience when i use them i get burnt..
  • #123,352
  • Feb 25, 2009 9:03am Feb 25, 2009 9:03am
For your amusement

http://news.bbc.co.uk/1/hi/business/7909627.stm

Can you imagine how big the spike would have been if that order had gone through?
  • #123,353
  • Feb 25, 2009 9:06am Feb 25, 2009 9:06am
look at that move . . .
where will it stop?
  • #123,354
  • Feb 25, 2009 9:07am Feb 25, 2009 9:07am
Quoting AmeriTrini
No donut for you.
too early..but that one made me laugh a healthy bit.

well..long predictors do have a bit of pain today...
I'm just sad I did not keep my short longer then I see it now...

oh well...I guess Obamas speech was a real barn burner last night...and todays followup may be in similar fashion...

best thing to do is hold off on long gents..and wait for actual upward movement...hmmm

remember...this pair does not have to follow any type of rules...never has and well..you know..
  • #123,355
  • Feb 25, 2009 9:09am Feb 25, 2009 9:09am
Quoting nAVIN2007
good to see u bro..hope its all going well
Yes, Nav everything is good buddy. I hope your trading is coming along nicely!!!
  • #123,356
  • Feb 25, 2009 9:09am Feb 25, 2009 9:09am
If they are drawn right by using 3 points touch method and use some common sense along with it. And stay on the Daily.

Quoting nAVIN2007
are u really finding that trendlines work cause in my experience when i use them i get burnt..
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #123,357
  • Feb 25, 2009 9:10am Feb 25, 2009 9:10am
oh well that trade killed me..i totally got it wrong now with hindsight it looked obvious to fall...yesterday on dailly we got a inside bar and today there we have a bearish outside bar

at least i was on demo
  • #123,358
  • Feb 25, 2009 9:11am Feb 25, 2009 9:11am
Quoting AmeriTrini
Yes, Nav everything is good buddy. I hope your trading is coming along nicely!!!

im ok bro, trading has improved so long as i dont try and scalp
  • #123,359
  • Feb 25, 2009 9:11am Feb 25, 2009 9:11am
Nice drop Moved sl +150 @ 4400.
The cci is in the oversold now. More drop expected Will be looking to add once a candle closes below my sma.
Good luck
Thank You
  • #123,360
  • Feb 25, 2009 9:13am Feb 25, 2009 9:13am
i hope u will like it????????????????/




Quoting JammerJams
good morning boys..but not my blood...but well assumed from all that chatter... well lessons learned hope most didnt hurt too badly...
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