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Cable Update (GBPUSD)

  • #124,881
  • Mar 5, 2009 3:11am Mar 5, 2009 3:11am
Quoting laromanell
Guys, everyone is talking here that cable will go south today shortly, but what facts do you have on hands to claim that? Your expectations, or the fact that everyone is calling usd a safe heaven? or maybe that majority of people saying that it's gonna drop? or a long term down trend for cable? what else? it didn't break 1.4230 yet? or maybe 1.4300?
The thing is it has broken 1.4150-80 barrier, the daily close was bullish, last 4h close was bullish too. news are only coming, and they may direct cable in either direction. So trade what is in the...
Hold your very safe posistion ! I didn't hold because I took a long at the high level !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #124,882
  • Mar 5, 2009 3:13am Mar 5, 2009 3:13am
Quoting Forbes55
I also hate news
my order was closed by trailing stop, damn it, I ddin't want to close short now I need it will rise for 20 pips and I will short it again by more lot
i had to go out with just 10pips before the news..staying in a tit corner..will stay out till the effect of the news fades out.
  • #124,883
  • Mar 5, 2009 3:17am Mar 5, 2009 3:17am
Quoting wormboy
lol. stop biggin it up, that was posted yesterday.
I'm just teasing
Probability Professor
  • #124,884
  • Mar 5, 2009 3:18am Mar 5, 2009 3:18am
Quoting mnassir
Hi manize,

Can you share the system with me?
I adopt Master Abuawad system, and under learning process currently. You can learn step by step here

http://www.forexfactory.com/showthread.php?t=155771
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #124,885
  • Mar 5, 2009 3:21am Mar 5, 2009 3:21am
it's going down and I missed the action because damn trailing stop
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  • #124,886
  • Mar 5, 2009 3:23am Mar 5, 2009 3:23am
Quoting manize
Hold your very safe posistion ! I didn't hold because I took a long at the high level !
Thanks, manize. I already took out half of my position several hours ago @ 1.4180, and put the rest to +50 @ 1.4080. Probably I'll add some more if cable clearly breaks 1.4230 level, targeting 1.4350. However, may cable touch 1.4370 I have a short order pending for it with sl @ 1.4550.
I just wanted to say everyone, don't follow the hype that others see...forget your feelings that are based on what you heard. Trade what is in the charts and what you clearly see.
  • #124,887
  • Mar 5, 2009 3:24am Mar 5, 2009 3:24am
Quoting Forbes55
it's going down and I missed the action because damn trailing stop
Its not down yet gotta break this damn trendline!!
  • #124,888
  • Mar 5, 2009 3:25am Mar 5, 2009 3:25am
Quoting PipLand
yeah no point spoiling the weekend lol, so if i dont get it today will wait until Monday. I also want to see whats happening with the dollar it seems to be weakening generally and if that thing is getting ready to unwind then you gotta be carefull of any USD Pair!
Pip, if you see usdx chart, it is getting stronger. I'm not so sure whether GU will go long or maybe what other people predict is true. However, it won't let me simply follow what people say. Let's see the rate and unemployment rate then i can decide
  • #124,889
  • Mar 5, 2009 3:26am Mar 5, 2009 3:26am
I rarely pick out trades off hourly chart. Hang on where's gammase? I think this is a good area to short
There you go, just threw a spanner in your works before the announcement.
Good luck growing back those hair old guys. Lol. I'm sitting on my hands atm.
Attached Image (click to enlarge)
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Thank You
  • #124,890
  • Mar 5, 2009 3:27am Mar 5, 2009 3:27am
Quoting PipLand
Its not down yet gotta break this damn trendline!!
yea it is down and I missed this damn action from 4225 because tight trailing stop
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  • #124,891
  • Mar 5, 2009 3:28am Mar 5, 2009 3:28am
ooops. There she goes
Thank You
  • #124,892
  • Mar 5, 2009 3:28am Mar 5, 2009 3:28am
Quoting laromanell
Guys, everyone is talking here that cable will go south today shortly, but what facts do you have on hands to claim that? Your expectations, or the fact that everyone is calling usd a safe heaven? or maybe that majority of people saying that it's gonna drop? or a long term down trend for cable? what else? it didn't break 1.4230 yet? or maybe 1.4300?
The thing is it has broken 1.4150-80 barrier, the daily close was bullish, last 4h close was bullish too. news are only coming, and they may direct cable in either direction. So trade what is in the...
That was some nice trading! congrats on your pips!

Theres no proof this will go down and your right to trade what your charts are showing you!

I think this will go down now because risk aversion is coming back into play today, for a moment i didnt think it was going to happen and resitance would be broken but there you go thats the benefits of good risk to reward ratio from buy at support and selling at resistance.

But we still gotta break the trend line first an dlots of support to get through before i start counting my chickens!
  • #124,893
  • Mar 5, 2009 3:29am Mar 5, 2009 3:29am
Quoting wormboy
I rarely pick out trades off hourly chart. Hang on where's gammase? I think this is a good area to short
There you go, just threw a spanner in your works before the announcement.
Good luck growing back those hair old guys. Lol. I'm sitting on my hands atm.
I even see it falling till level 4030 till closing today market
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  • #124,894
  • Mar 5, 2009 3:30am Mar 5, 2009 3:30am
Quoting wormboy
ooops. There she goes
I told you before action started but everybode was scared to sell it from top
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  • #124,895
  • Mar 5, 2009 3:31am Mar 5, 2009 3:31am
Quoting Forbes55
it's going down and I missed the action because damn trailing stop
Be cool man, I did as well maybe even much more than you, but as long as get green pips it is good to increase the account balance !
The art of trading forex is not always gaining huge pips !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #124,896
  • Mar 5, 2009 3:32am Mar 5, 2009 3:32am
Quoting Galation
I'm just teasing
All good my friend
Thank You
  • #124,897
  • Mar 5, 2009 3:33am Mar 5, 2009 3:33am
Guys, there is a lot of talk about shorting this beast after the rates decision but if you look back at the last 2 UK rate cuts there has been a significant up tick immediately after the rates decision. Both the Jan and Feb decision are posted below.

Considering that the rates are forecast to be cut to a very low 0.5% and the likelihood of further cuts is extremely slim, a cut to 0.5% is the worst case scenario and already factored in. There is even the probability that they do not cut this month. Either way I see a play similar to the previous months with a Cable bull move ahead.

We may well see a drop ahead of the time but a climb after the decision is highly probable imho.

Of course PA will dictate.
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Ride the Bulls bearback!
  • #124,898
  • Mar 5, 2009 3:34am Mar 5, 2009 3:34am
Quoting Forbes55
I even see it falling till level 4030 till closing today market
Yeah 4030 is about the bottom of the channel so thats do-able i'll close it out there if it gets there, sorry you missed it mate, but its still got a lot of suport to get through
  • #124,899
  • Mar 5, 2009 3:36am Mar 5, 2009 3:36am
Quoting Forbes55
I told you before action started but everybode was scared to sell it from top
I'm not scared of anything! GRRRRR!
small joke. anyway, my trades from friday just got closed about an hour ago.
I am in no hurry to position myself just yet, especially not before those big announcements and data releases.
So did you went for it from the top?
Thank You
  • #124,900
  • Mar 5, 2009 3:36am Mar 5, 2009 3:36am
Quoting manize
Be cool man, I did as well maybe even much more than you, but as long as get green pips it is good to increase the account balance !
The art of trading forex is not always gaining huge pips !
I just missed action easy 300$ and I can't be cool at all
thats was damn nice place to short by big lot from my 4226 and I used trailing stop 20 pips and it returned to close my order and went fall
That's just unfair!
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