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Cable Update (GBPUSD)

  • #9,481
  • Mar 29, 2007 10:58pm Mar 29, 2007 10:58pm
Lol yeah, the price has come off the 655 high so hard it could swing right back round. The markets can act like a petulant child sometimes and standing strong can be difficult.

Note that yesterday Cable had two distinct ranges and oscillated with a high frequency inside them. Despite calling the two bottoms and top with fair accuracy my trades were 0, -6 and +6 for the day, imagine the day I would have had if I waited for the range breakouts!

Price is hovering around the 640 zone. 15M chart RSI just touched Overbought, Stoch just left OB zone which suggests a move down but this move off the highs could be it. Hourly, breakout above triangle and 100SMA but stoch is approaching OB. I'm not closing this trade until it hits my predefined SL at 609 since the market has constantly mocked me by retesting highs/lows after my exit.
  • #9,482
  • Mar 29, 2007 11:04pm Mar 29, 2007 11:04pm
OK, I have a new All Time Number 1 Ridiculous, Farcical move!
  • #9,483
  • Mar 29, 2007 11:05pm Mar 29, 2007 11:05pm
Quote
Price is hovering around the 640 zone. 15M chart RSI just touched Overbought, Stoch just left OB zone which suggests a move down but this move off the highs could be it. Hourly, breakout above triangle and 100SMA but stoch is approaching OB. I'm not closing this trade until it hits my predefined SL at 609 since the market has constantly mocked me by retesting highs/lows after my exit.


Yeah I am with ya, I could have stopped at breakeven or even a few points profit all throughout the day, but this trade has hung around so long doing nothing I am just going to wait on the S/L or TP.

If the 1.9615 holds, the news in the morning is US Negative and Britan doesn't bomb Iran for the next 10 hours you should be good.
  • #9,484
  • Mar 29, 2007 11:07pm Mar 29, 2007 11:07pm
Yeah as I was typing it took a dive, but hell it has been doing that all day, so nothing new their for me. If it breaks the fortified 15 and stays their for a more than 5 minutes I might perk up.
  • #9,485
  • Mar 29, 2007 11:10pm Mar 29, 2007 11:10pm
Since this is just a demo account and I'm beyond caring I've moved my stop to 596 and calling it a night. I might as well give it a little breathing room, my entry is only 6 pips from that 615 barrier so excersing a wide stop might be ok.
  • #9,486
  • Mar 30, 2007 1:59am Mar 30, 2007 1:59am
Quoting forexnovice
Me long on AUD/USD frm 8050 with TP 8085 & SL 8020
i did ok with my au trade.

not as good as you, but viably positive.
BAM BAM BOOM! -bravado
  • #9,487
  • Mar 30, 2007 2:07am Mar 30, 2007 2:07am
Quoting stickyweb
Hang in there - Aussie has no backbone & it's sure to topple soon - This recent rise broke a lovely pennant on the 4H so I guess we should have seen it coming!
the plan here is to sell at the best price. i can see au heading higher, or dropping from the range. just going to have to wait, or perhaps i'll miss the move.

i got out by averaging out my losses (shorted twice the lot at the top) with profits. (again i do not recommend doing this to anyone).

i can get away with it cause i'm that special.
BAM BAM BOOM! -bravado
  • #9,488
  • Mar 30, 2007 2:10am Mar 30, 2007 2:10am
Quoting golatigo
i thought this thread was for and about gbp-usd
cable might reach 2.000.. which is higher then whatever prev.

audusd us already there.

i'm practicing.
BAM BAM BOOM! -bravado
  • #9,489
  • Mar 30, 2007 2:13am Mar 30, 2007 2:13am
Quoting bravado
i did ok with my au trade.

not as good as you, but viably positive.
Glad 2 hear that! Keep up the good work pal

I did well on long & short on AUD/USD but performed miserably on my cable long....well u lose some..u gain some....thats the way forex is...
  • #9,490
  • Mar 30, 2007 2:17am Mar 30, 2007 2:17am
Quoting cesarnc
Damn GU trading within a never seen 30 pips range...

bravado is going to be furious today...
nice calls on uj a day back. it headed north just like you said.
BAM BAM BOOM! -bravado
  • #9,491
  • Mar 30, 2007 2:31am Mar 30, 2007 2:31am
Quoting forexnovice
Glad 2 hear that! Keep up the good work pal

I did well on long & short on AUD/USD but performed miserably on my cable long....well u lose some..u gain some....thats the way forex is...
i'm not your pal.
BAM BAM BOOM! -bravado
  • #9,492
  • Mar 30, 2007 2:34am Mar 30, 2007 2:34am
Quoting bravado
i'm not your pal.
Do let me know how I must address YOUR HIGHNESS?
  • #9,493
  • Mar 30, 2007 2:54am Mar 30, 2007 2:54am
Quoting bravado
i can get away with it cause i'm that special.
Finally the markets are beginning to bend to your will - I'm riding Cable down & waiting for Aussie to follow!
  • #9,494
  • Mar 30, 2007 3:04am Mar 30, 2007 3:04am
wow.... great movement..

+100pips ... I'm out

  • #9,495
  • Mar 30, 2007 3:09am Mar 30, 2007 3:09am
Quoting bravado
nice calls on uj a day back. it headed north just like you said.
Tks... but the killing was GJ... Got 250 out of 300 pips move... 90 on UJ... Dragged my account out of the hole
  • #9,496
  • Mar 30, 2007 3:15am Mar 30, 2007 3:15am
looking for long now
  • #9,497
  • Mar 30, 2007 3:17am Mar 30, 2007 3:17am
Quoting pablorpl
looking for long now
Yes.. looks like London inverting Frankfurt kind of situation....
  • #9,498
  • Mar 30, 2007 3:19am Mar 30, 2007 3:19am
Already long, but small lot size, still got other pair's open trades.
Tra-X
  • #9,499
  • Mar 30, 2007 3:29am Mar 30, 2007 3:29am
Quoting Traex
Already long, but small lot size, still got other pair's open trades.
What trades you have traex?

I TPed all my yens yesterday.

Awaiting confirmation in the M5 now... Bounce off Mid BB for continuation or crossing it back up.
  • #9,500
  • Mar 30, 2007 3:40am Mar 30, 2007 3:40am
Quoting cesarnc
What trades you have traex?

I TPed all my yens yesterday.

Awaiting confirmation in the M5 now... Bounce off Mid BB for continuation or crossing it back up.
Hi cesar,

I am having a blast with gj! Just wanted to let you know...

Thanks for encouraging me to go back to it.
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