Cable Update (GBPUSD) | Page 6240 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #124,781
  • Mar 4, 2009 5:42pm Mar 4, 2009 5:42pm
Hi Magix
How are you? What is your take on EU/GBP I think that would a good pair to trade after tomorrows rate announcements and it will decide the momentum for GBP/$ maybe
Seems like tomorrow it can breakout daily chart in a kind of narrow range/triangle maybe upside move?
Ontarian?

Thankx in advance


Quoting Magix
Waiting for direction here...

Hate to get trapped on a headfake, low volume, easy traps..

I don't believe that any position right now would not gain some profit, but best wait and maximize the plays...
BANDA333
  • #124,782
  • Mar 4, 2009 5:44pm Mar 4, 2009 5:44pm
I take short with BE SL+

Cu in next 4 hour...

Attached Image (click to enlarge)
Click to Enlarge Name: supersignal.gif Size: 26 KB
  • #124,783
  • Mar 4, 2009 6:18pm Mar 4, 2009 6:18pm
Quoting BANDA
Hi Magix
How are you? What is your take on EU/GBP I think that would a good pair to trade after tomorrows rate announcements and it will decide the momentum for GBP/$ maybe

Ontarian?

Thankx in advance
Calgarian...

I have mixed indicators on EG as of current, long range says improving but has dropped some value over the last couple days, maybe already adjusted for the rate cut??

As has been stated here before, and much the same with stocks, somebody already knows the news, the prices are already set to reflect and only the daytraders have a short spike on direction which typically corrects and continues on as was.

AS far as trading goes...

The problem with EG is direction....it can range play until complete turn around and leave you trapped in loss. The wrong side of this one can easily turn into a loss or forever hold. This is why I choose to only use it as a strength indicator. Playing EJ and cable gives me the best of both worlds (a strong runner in both directions), EU will run much the same as EJ but with a lot shorter range and has the same napping habit as cable, can go to sleep in a range long enough to flatten out the indicators and turn on ya when ya least expect.

Coming from the world of penny plays, my standard play time is max 90 minutes. There's always profit on a chart and I like to protect my gains.

My longer holds have netted me this week around 220 pips - 2 day hold. My fire sale plays at eod today was close to 180, took about 45 mins.

I have taken my basic scalp charts and time trader and tried to adapt it into a longer outlook....on the days to hours I can be correct, but when these turn on you, having a look @ a sea of red isn't too appealing to me, even knowing that the short range of plays we have will typically correct and turn me green in a day if not a matter of hours....there is always a profitable position.

I play off of a 5 min chart, and watch my plays dilligently. I may not get the mass 2-300 pip scores on any single trade but the ranges I play don't often trap me.

As things go, I am probably one of the greenest forex traders on this board, and following me is a good way to lose money fast. I can post what I am looking for and targets based on a short term chart, but when the plays happen, my house could be on fire and I won't take eyes from my terminal....you will only see my post after exit. I think the one thing people on this board don't take into consideration is the time frame and play range of each other trader. Where some have the patients of saints, others like me rapid fire trading, end of day, not sure if the pair gained or lost because it really doesn't matter.

Short version of the above...

**shrugs shoulders**
I dunno man, your guess is as good as mine.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #124,784
  • Mar 4, 2009 6:28pm Mar 4, 2009 6:28pm
Quoting biax
I take short with BE SL+

Cu in next 4 hour...
Agree with you...my 4hr says bout the same.
Attached Image (click to enlarge)
Click to Enlarge Name: gu4h.JPG Size: 88 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #124,785
  • Mar 4, 2009 6:42pm Mar 4, 2009 6:42pm
Hey Buddy
Thank you very much for the reply. I am in agreement with you. EU/JPY is a very good pair. I am going to spend less time on GBP/$ and concentrate on EU/JPY . GBP/JPY and GBP/CHF also good but when loose you can loose big time with them. Currently I am trying recover from a USD/CAD trade but my GBP/$ going fine.......
Thank you
You must be having lot of snow eh?


Quoting Magix
Calgarian...

I have mixed indicators on EG as of current, long range says improving but has dropped some value over the last couple days, maybe already adjusted for the rate cut??

As has been stated here before, and much the same with stocks, somebody already knows the news, the prices are already set to reflect and only the daytraders have a short spike on direction which typically corrects and continues on as was.

AS far as trading goes...

The problem with EG is direction....it can range play until complete turn around and leave you trapped...
BANDA333
  • #124,786
  • Mar 4, 2009 6:44pm Mar 4, 2009 6:44pm
Quoting Magix
Calgarian...

I have mixed indicators on EG as of current, long range says improving but has dropped some value over the last couple days, maybe already adjusted for the rate cut??
......................................................

Excellent post and beautiful English. Any time I have made money on a long play, it has been by luck more than anything else.

Even nipping out to the dentist today cost me money - a whisker streaked up to my stop loss and triggered it and streaked back again in 0.0000001 nano seconds . Hate leaving a trade running. Luckily, I only put a s/l on part of the position

I think thats just my broker trying to get jailed by messing with me at a time of a very thin market. Hope he has a whistle blower in his office and he is reading this. That streak wont show on other people's charts I bet.
Paranoia ? No they do that - and that cat over there is looking at me really evil too...what's it planning ?
  • #124,787
  • Mar 4, 2009 6:50pm Mar 4, 2009 6:50pm
Quoting BANDA
You must be having lot of snow eh?
Prior to this year, with business I was putting on 4-6000 km/mo. Now that I live @ my pc and laptop, really not much of a concern for me. The cold outside gets the beer to a perfect temp faster than the fridge.

Always a silver lining....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #124,788
  • Mar 4, 2009 6:54pm Mar 4, 2009 6:54pm
Quoting Magix
Always a silver lining....
Like watching your mother in law driving over a cliff in your new car
  • #124,789
  • Mar 4, 2009 6:56pm Mar 4, 2009 6:56pm
Quoting allserene
I think thats just my broker trying to get jailed by messing with me at a time of a very thin market. Hope he has a whistle blower in his office and he is reading this. That streak wont show on other people's charts I bet.
Paranoia ? No they do that - and that cat over there is looking at me really evil too...what's it planning ?
I use a meta demo account for charting, the charts with my broker suck hard! I have been tripped out by having my s/l at the absolute pinnacle of the play, it doesn't show on the chart, but my stops tripped anyways...

I also notice a price difference, sometimes upto 5 pips from my broker to the charts I use. Some difference in a fast market is understandable, but have had regular to slim trading and seen this....Chart hits target, broker waits until I exit to correct.

I have felt like calling them and telling them to STAY OUT OF MY HEAD, but realize this might ride a little too close to the edge..

Always amused by your posts, filling the time with a quick quip beats the hell out of staring at a stalled play.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #124,790
  • Mar 4, 2009 6:58pm Mar 4, 2009 6:58pm
Quoting allserene
Like watching your mother in law driving over a cliff in your new car
I shit you not...

Step mothers dog just fell off a cliff last week...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #124,791
  • Mar 4, 2009 7:03pm Mar 4, 2009 7:03pm
Quoting Magix
I shit you not...

Step mothers dog just fell off a cliff last week...
has it hit bottom yet ? we have some bugger-off cliffs in washington state

I have heard of the stock market falling off a cliff but never a woofer

did it slip or was it pushed ?

Tell me it's ok and there is a happy ending....
  • #124,792
  • Mar 4, 2009 7:06pm Mar 4, 2009 7:06pm
my part short is working nicely - nice action for this time of day

hope the overnight long crew don't look at this point
  • #124,793
  • Mar 4, 2009 7:06pm Mar 4, 2009 7:06pm
Quoting allserene
has it hit bottom yet ? we have some bugger-off cliffs in washington state

I have heard of the stock market falling off a cliff but never a woofer

did it slip or was it pushed ?

Tell me it's ok and there is a happy ending....
New property in Mexico. Dog was blind. Before they could tie him up or tend to him, he wandered over to a cliff off the back side of the property and plunged to his death.

Happy ending...Hrmm...Guess they can take regular a regular flight home in the spring not having to worry about a pet carrier....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #124,794
  • Mar 4, 2009 7:13pm Mar 4, 2009 7:13pm
I took a long, 1.4150, SL 1.4090. TP 1.4250 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #124,795
  • Mar 4, 2009 7:17pm Mar 4, 2009 7:17pm
Evenining guys hows it going. Check out the nikkei its absolutly soaring! Im surprised it hasnt sent cable up!
  • #124,796
  • Mar 4, 2009 7:18pm Mar 4, 2009 7:18pm
Quoting manize
I took a long, 1.4150, SL 1.4090. TP 1.4250 !

I think ya gunna do well on the TP, but on the hourly, my charts say you might get tripped on this little pullback we seeing....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #124,797
  • Mar 4, 2009 7:20pm Mar 4, 2009 7:20pm
Quoting Magix
New property in Mexico. Dog was blind. Before they could tie him up or tend to him, he wandered over to a cliff off the back side of the property and plunged to his death.

Happy ending...Hrmm...Guess they can take regular a regular flight home in the spring not having to worry about a pet carrier....
Heck !

yep when they get blind and skinny they are checking out....
Freddy Mercury went the same way...

Havent got a handle on shares futures yet but if they are down, then the asian session could wallop cable... i will just leave this small short running for now
  • #124,798
  • Mar 4, 2009 7:24pm Mar 4, 2009 7:24pm
Quoting allserene
Heck !
... i will just leave this small short running for now
With you there brother...
Don't think the hourly chart bodes well for longs as of right now, bound to change in the long run, but will plays em as I sees em.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #124,799
  • Mar 4, 2009 7:29pm Mar 4, 2009 7:29pm
Quoting allserene
Heck !

yep when they get blind and skinny they are checking out....
Freddy Mercury went the same way...

Havent got a handle on shares futures yet but if they are down, then the asian session could wallop cable... i will just leave this small short running for now

im talking to myself here and i sound like that guy from cnbc you posted yesterday "I dont understand it", "I dont understand it"

the nikkei is sky high and counting and cable is falling. Im short on cable so I should be happy but im left scratching my head, will cable really test the lows with stocks going up? Or is it going to bounce into the sky any minute??
  • #124,800
  • Mar 4, 2009 7:30pm Mar 4, 2009 7:30pm
http://www.forexfactory.com/news.php?do=news&id=156236

This review is making sense to me. good chance we are going down further.

270 traders viewing now